Additional European Equity News

Allfunds – Revised price guidance for their IPO to EUR 11.25-11.50 with books oversubscribed at this range, books close Thursday at 13:00BST. (Newswires) Initial price range was EUR 10.50-12.00, the top-end of which would have given a market cap of circa EUR 7.6bln.

Antofagasta (ANTO LN) – Q1 copper production in-line with guidance at 183k/T, -5.7% YY. FY guidance is unchanged at 730-760k/T of copper. H2 production expected to be better than H1. Further reduced onsite workforce. (Newswires)

ASM (ASM NA) - Q1 revenue +14% Y/Y to EUR 394mln.Q1 new orders +8% Y/Y. 2021 is expected to develop into another year of solid growth for ASM. (Newswires)

Atos (ATOS FP) - US district court reduced jury's USD 855mln damages award to USD 570mln and denied Cognizant and Trizetto's request for an additional USD 75mln in pre-judgement interest. (Newswires) 

Bunzl (BNZL LN) – Revenue in Q1 +5.4%. Guidance reiterated. Recent acquisitions will assist performance for FY21. European markets continue to be impacted by COVID-19 restrictions. (Newswires)

Castellum (CAST SS) – To undertake share repurchases, which can occur between April 21st and the next AGM on multiple occasions if required. (Newswires)

Delivery Hero (DHER GY) - Uber (UBER) is said to plan a launch of UberEats in Germany, according to reports. (FT)

Eiffage (FGR FP) - Q1 APRR revenue -6% to EUR 531.6mln. (Newswires) 

Heineken (HEIA NA) - Q1 net profit EUR 168mln vs prev. EUR 94mln. Total beer volume 50.3mhl vs Co. exp. 55.2mhl. Outlook remains unchanged. Co. expects market conditions to gradually improve into H2, contingent on the vaccine rollout. (Newswires)

Hochschild (HOC LN) – Q1 attributable production of 52.8k/oz gold, 2.8mln/oz silver. On track for overall production target of 360-372l/oz of gold and 31-32mln/oz silver. (Newswires)

Kier Group (KIE LN) - HY group revenue GBP 1.6bln vs prev. GBP 1.9bln Y/Y. Co. reports increased order book of GBP 8bln, covering 62% of HY forecast revenues. Co. proposed equity an raise in the range of GBP 190-240mln, expected in the coming weeks. (Newswires)  

Leonardo (LDO IM) - Co. has expanded its naval electronics offer with the acquisition of 30% of GEM Elettronica. (Newswires)

Plus 500 (PLUS LN) – To acquire Cunningham Commodities membership interest for USD 30mln, will be earnings accretive in year-1. (Newswires)

Roche (ROG SW) - Co. is to start Phase III tests on COVID pill in the coming weeks. Estimates CHF 4.6bln impact from biosimilars over the course of 2021, seeling more Jerceptin, Avastin and Rituxan in China in spite of competition. (Newswires)

Scout24 (G24 GY) - Co. said around 11.4mln shares have been tendered to Scout24 under its public repurchase offer. (Newswires) 

AIR FRANCE-KLM (AF FP) UPGRADED TO HOLD FROM REDUCE AT HSBC 

ENI (ENI IM) INITIATED WITH BUY AT DEUTSCHE BANK

MAERSK (MAERSKB DC) DOWNGRADED TO HOLD FROM BUY AT SEB ENSKILDA

POST ITALIANE (PST IM) INTIATED WITH BUY AT HSBC

TOTAL (FP FP) INITITATED WITH BUY AT DEUTSCHE BANK

WACKER CHEMIE (WCH GY) DOWNGRADED TO ADD FROM BUY AT BAADER HELVEA

21 Apr 2021 - 07:26- EquitiesResearch Sheet- Source: Newsquawk