Additional European Equity News

Anglo American (AAL LN) - Q3 copper output -5.3% Y/Y to 157k tonnes. Co. is broadly on track to deliver FY production guidance. (Newswires)

Aroundtown (AT1 GY)/ TLG Immobilien (TLG GY) – Aroundtown has decided on launch of public delisting tender offer to the holders of TLG Immobilien, offering EUR 31.67 for each TLG share tendered. Offer will not include any closing conditions. Aroundtown already owns circa. 80% of TLG. (Newswires) TLG closed at EUR 27.50 on Wednesday

Babcock (BAB LN) - H1 revenue GBP 2.23bln vs prev. GBP 2.11bln. Co. maintains FY outlook. Co. has completed the sale of Fraser-Nash for GBP 290mln in cash. (Newswires) 

Barclays (BARC LN) - Q3 corporate and investment banking (CIB) revenue GBP 3.13bln vs exp. GBP 2.86bln. Total Income GBP 5.47bln vs exp. GBP 5.30bln. CE1 ratio 15.4% vs exp. 14.9%. Co. has affirm mid-term targets. Co. is well positioned for a rising rate environment, and continues to see strong UK mortgage and deposit volumes. Net credit impairment release of GBP 600mln Q3 YTD driven by an improved macroeconomic outlook and benign credit performance. Impairment run rate is expected to remain below historical levels in the coming quarters. FY21 costs (ex-structural costs) expected to be around GBP 12bln. (Newswires)

Bankinter (BKT SM) - Q3 adj. net EUR 110.4mln vs prev. EUR 110.9mln. NII EUR 315.7mln vs prev. EUR 314.5mln. (Newswires) 

BMW (BMW GY)/ Audi (NSU GY)/ Daimler (DAI GY) - The German auto industry wants to list the "Here" map service on the stock exchange, potentially via a SPAC. (Handelsblatt)

Eurofins (ERF FP) - Q3 revenue EUR 1.63bln vs prev. EUR 1.42bln. Co. raises FY outlook. (Newswires) 

Getlink (GET FP) – Q3 revenue EUR 223mln, -13% YY; Eurotunnel revenue EUR 190mln, -15% YY. (Newswires)

Hermes (RMS FP) – Q3 revenue EUR 2.37bln vs prev. EUR 1.80bln, approaching end-2021 with confidence. Confirms medium-term targets. No impact, thus far, from the redistribution of Chinese wealth, CFO remarks. Taking all measures to ensure stores are stocked for end-2021 in-spite of lower stock levels. (Newswires)

Ipsen (IPN FP) - Q3 revenue +15% Y/Y. Co raises FY revenue growth outlook to 11% from 8%. (Newswires) 

Pernod Ricard (RI FP) – Q1 net sales EUR 2.72bln vs prev. EUR 2.24bln +20% vs exp. +15.7%; expect good sales growth to continue through FY22 albeit with a moderation vs Q1. Seeing robust demand and strong shipments going into the holiday season. CEO adds that demand during China’s mid-autumn festival was good, inventory level in the region is healthy. (Newswires)

Jyske Bank (JYSK DC) - 9M net DKK 2.4bln vs prev. DKK 696mln. Co. upgrades FY 21 net and pretax guidance. (Newswires) 

Just Eat Takeaway.com (JET LN) – Capital markets day: reiterates FY guidance, there will be no new disclosures on current trading conditions. Gross transaction volume to grow by mid-teens percentage points YY in 2022 and looks for in excess of EUR 30bln of such volume to be added in the next five-years. Altering its reporting structure, to provide investors with greater clarity of underlying business performance across different regions. (Newswires)

Rexel (RXL FP) - Q3 revenue EUR 3.56bln vs exp. EUR 3.65bln. Co. notes that all units are performing at above-crisis levels. (Newswires)

Rentokil (RTO LN) - Q3 revenue GBP 761.3mln vs prev. GBP 754.6mln. (Newswires)  

St James Place (STJ LN) – Q3 gross inflows GBP 4.32bln, record funds under management of GBP 148bln. Expect FY gross inflow growth of circa. 25%. (Newswires)

Unilever (ULVR LN) – Q3 revenue EUR 13.5bln vs prev. EUR 12.9bln, underlying sales growth (USG) 2.5% vs exp. 2.59%, underlying volume -1.5% vs exp. 0.46%. Quarterly dividend of EUR 0.4268/shr, ongoing buyback programme to conclude by end-2021. Unit breakdown: Beauty & Personal Care EUR 5.7bln, USG +2.5%; Home Care EUR 2.7bln, USG +1.4%; Foods & Refreshment EUR 5.1bln, USG +3.0%. (Newswires)

Volvo (VOLVB SS) - Q2 revenue SEK 85.23bln vs exp. SEK 85bln. Adj. operating profit SEK 9.40bln vs exp. SEK 8.87bln. Co. cuts FY21 North American and European heavy truck orders guidance. (Newswires) 

RICHEMONTE (CFR SW) UPGRADED TO BUY FROM HOLS AT HSBC

YARA (YAR NO) UPGRADED TO BUY FROM HOLD AT NORDEA

21 Oct 2021 - 07:07- EquitiesResearch Sheet- Source: Newsquawk