Additional European Equity News

Airbus (AIR FP)/BAE Systems (BAE LN)/Leonardo (LDO IM) – UK MoD is to spend GBP 405mln on upgrading a missile system which is currently in used by the Royal Navy in the Red Sea. (Newswires)

Assa Abloy (ASSAB SS) – Acquires Integrated Warehouse Solutions, will be accretive to EPS from the start. (Newswires)

BP (BP/ LN) - Positive mention in Barron's; the newspaper said BP stock had been ignored for too long, and it was now time to buy. (Newswires) 

Compass Group (CPG LN) - Announces acquisition of CH&Co. Proposed deal for an initial EV of GBP 475mln, for an additional earn out over two years following closing, dependant on profit growth of business. (Newswires) Follows earlier reports that the deal would be worth "more than GBP 400mln" 

CD Projekt (CDR PW) – CEO Badowski said they aim to commence the production phase of the Witcher game this year, looking to have around 400 individuals working on the project by mid-2024. A Cyberpunk sequel, codename “Orion”, is in the conceptual phase; anticipate having around 80 individuals working on this by end-2024 and that multi-player elements are being considered. (Newswires)

Fastighets AB Balder (BALDB SS) - Sells 151k sqm of building rights in Kalastaden for SEK 1.0bln together with Serneke. (Newswires) 

Renault (RNO FP) - Appoints Martin Thomas as CEO of Mobilze Financial Services, via GlobalNewswire (GlobalNewswire)

Moncler (MONC IM) – Temasek is to become a direct shareholder in the Co., following the conclusion of an investment deal with Double R. (Newswires)

S4 Capital (SFOR LN) - Confirms that trading in Q4 was in-line with expectations. Not expecting a macro improvement in 2024, client caution on marketing spending likely to persist. (Newswires)

Snam (SRG IM) – Enagas (ENG SM) and National Gas have reportedly expressed an interest in Snam’s 23% stake in Interconnector, via Corriere della Sera. (Newswires)

Commerzbank (CBK GY) downgraded to Underperform at BofA

Segro (SGRO LN) upgraded to Buy from Neutral at Citi 

Sweco (SWECB SS) downgraded to Hold from Buy at Kepler Cheuvreuzx

22 Jan 2024 - 07:05- EquitiesEconomic Commentary- Source: Newsquawk