Additional European Equity News

AstraZeneca (AZN LN) – Co. sets ambition to deliver USD 80bln total revenue by 2030 and sustained growth post 2030. Co. is to launch 20 new medicines expected by 2030. AstraZeneca will maintain its strategic commitment to R&D while focusing on productivity. Co. said beyond 2026, core operating margin will be influenced by portfolio evolution. (Newswires)

Beazley (BEZ LN) - Barbara Plucnar Jensen has been appointed to board replacing Sally Lake. (Newswires) 

Entain (ENT LN) - Capital Allocation Update: Conclusion of a strategic review by board's capital allocation committee of Entain's portfolio of markets, brand and verticals. Considers selling non-core Georgian brand Crystalbet. Brazil shows strong double digit growth revenue in Q2. (Newswires) 

Fresnillo (FRES LN) - AGM statement: Global geopolitical events have created strains in supply chain and driven higher costs Co. said it has also been affected by changing government policies in Mexico. (Newswires) 

GSK (GSK LN) - GSK's depemokimab cut asthma attacks in Phase III SWIFT trials, according to Bloomberg. (Newswires)

Kingfisher (KGF LN) – Q1 Trading Update: Trading in line with expectations and FY guidance unchanged. Q1 sales 3.3bln, Total Sales +0.3%. Q2 Trading to date in line with underlying Q1 trends, LFL -2.5%. FY outlook affirmed. (Newswires)

Pennon Group (PNN LN) - FY24 (GBP) - Adjusted revenue 907.8mln (exp. 884mln). Net Income -8.5mln (exp. +18mln). Adjusted EPS 0.062 (exp. 0.070). Pennon expects 2024/25 organic revenue growth to be driven by inflationary tariff increases and growth in non-household retail businesses. (Newswires)

SSP (SSPG LN) – HY24 Update: Rev. 1.51bln, pretax profit 13mln, Declared an interim dividend of 1.2p/shr. Demand for travel will remain resilient. Well positioned to deliver assumptions for FY24. (Newswires)

Smiths (SMIN LN) – Trading Update: Q3 Organic Revenue +7.7%. “This strong growth was delivered against a record nine-month FY2023 comparator of +13.4%.” (Smiths)

Saipem (SPM IM) - Three new contracts awarded for Kaminho project for total USD 3.7bln. (Newswires)

Sydbank (SYDB DC) - To acquire Coop Bank; prelim purchase price calculated at DKK 345mln. (Newswires) 

Telefonica (TEF SM) - The Spanish Government has acquired a 10% stake in the Co. (EUR 2.3bln), which it had set out to buy in December.  (Newswires) 

TotalEnergies (TTE FP) - Co. launches Kaminho deepwater project. (Newswires) 

Ferrovial (FER SM) initiated with Buy at Citi 

21 May 2024 - 07:02- EquitiesResearch Sheet- Source: Newsquawk