Additional European Equity News

Antofagasta (ANTO LN) – Q2 copper production 178.4k/T, gold production 61.4k/oz, +3.9%. FY copper production guidance is unchanged at 730-760k/T vs exp. 740k/T. CapEx for FY is expected to be in-line with the initially guided USD 1.6bln. Los Pelambres and Centinela sites have performed strongly in H1. (Newswires)

Atlantia (ATL IM) – The hearing to decide on a trial regarding the Genoa bridge collapse will commence on September 15th, according to Corriere della Sera. (Newswires)

Enel (ENEL IM) - Enel Finance International has repurchased bonds for aggregate nominal value of USD 6bln. (Newswires) 

Hochschild (HOC LN) – Q2 production 53.4k/oz of gold and 3.1mln/oz of silver. On target to deliver overall FY21 production goals. (Newswires)

Iberdrola (IBE SM) - Q2 net income EUR 1.32bln vs exp. EUR 447.6mln. EBITDA EUR 2.63bln vs exp. EUR 2.63bln. Revenue EUR 8.66bln. (Newswires) 

Mediobanca (MB IM) - Italy's Caltagirone reportedly raises stake in the Co. to 5% from 2.88%, according to reports. (Newswires) 

Next (NXT LN) - Sales during the last eleven weeks have been materially above forecasts, and thus the Co. raises FY21 profit guidance. Sales in the period (vs 2019) came in at +18.6% vs exp. +3%. Co. plans to distribute surplus cash via a special dividend. Co. does not expect sales to continue at these exceptionally strong levels but the outlook remains more optimistic. Co. sees full price sales growth for the remainder of 2021 at 6% vs prev. view of 3%. (Newswires)

Rio Tinto (RIO LN) – Richard’s Bay Minerals has closed one of its four furnaces, due to a depletion of available feedstock at the site. All operations at the site remain halted until further notice. (Newswires)

Royal Mail (RMG LN) - Q1 group revenue +12.5% YY. Co. maintains guidance. General Logistics Systems revenue growth is expected to slow during the year. Co. continues to expect month-to-month fluctuations in parcel volumes. (Newswires)

Saab (SAABB SS) - Q2 order bookings SEK 10.13bln vs prev. SEK 8.736bln. Sales SEK 1.196bln vs prev. SEK 1.004bln. Co. sees organic sales around 10% vs prev. 5%. (Newswires) 

Swedish Orphan Biovitrum (SOBI SS) – Q2 revenue SEK 3.2bln vs exp. SEK 2.9bln. FY21 outlook is unchanged. (Newswires)

COMPASS GROUP (CPG LN) UPGRADED TO BUY FROM HOLD AT JEFFERIES

21 Jul 2021 - 07:27- MetalsResearch Sheet- Source: Newsquawk