Additional European Equity News

JD Wetherspoon (JDW LN) - Trading Update in 25 weeks to 19 Jan 2025: LFL Sales +5.1% Y/Y; Total Sales +4% YTD. Confident of a reasonable outcome for the year. (Newswires) 

easyJet (EZJ LN) - Q1 (GBP): Passenger Revenue 1.26bln, +11% Y/Y; Q2 underlying rev trends are mostly lower Q/Q. H1 underlying winter losses exp. to reduce when adjusted for the timing of Easter and a prior year release of aged balances. Q2 underlying unit rev. trends are mostly lower than Q1. Outlook FY25: Positive outlook for FY25, consistent with consensus and on track to achieve medium term PBT targets. (Newswires) 

EssilorLuxottica SA (EL FP) / Meta Platforms (META) - Meta Platforms is enhancing its smart glasses and exploring new wearables, including Oakley-branded glasses for athletes, Bloomberg reports. The company is also developing high-end AR glasses and working on smartwatches and earbuds, aiming to integrate more AI features. (Bloomberg)

Intermediate Capital Group (ICG LN) - Quarterly AuM of USD 107bln; investment environment remains in line with recent quarters. Europe is expected to be activated and fee-earning by March 2025. (Newswires)  

Santander (SAN SM) - UK Chancellor Reeves, when asked about UK bank ring-fencing, says we "always keep an open mind". (Bloomberg)

SNAM (SRG IM) - 2025-2029 Plan: Total investments of EUR 12.4bln for the period. Sees Adj. EPS at 4.6%; dividend policy +4% yearly and max payout of 80%. (Newswires) 

Schaeffler AG (SHA GY) - FY24 (EUR): Revenue 18.2bln (prev. 16.3bln Y/Y), EBIT margin 4.5% (prev. guided 5-8%). (Newswires)

Universal Music Group (UMG NA) - Shareholders said to seek EUR 177mln in sale. 

Adidas (ADS GY) reiterated with Buy at UBS 

Big Yellow Group (BYG LN) upgraded to Buy from Hold at Berenberg

BMW (BMW GY) upgraded to Buy from Hold at Berenberg

Carrefour (CA FP) downgraded to Underperform from Neutral at BNP Paribas 

Dassault Systemes (DSY FP) initiated with Outperform at Santander

Halma (HLMA LN) upgraded to Buy from Hold at Berenberg

Mercedes Benz (MBG GY) downgraded to Hold from Buy at Berenberg 

Porsche SE (PAH3 GY) downgraded to Hold from Buy at Berenberg

Renault (RNO FP) assumed with Hold at Deutsche Bank 

Vinci (DG FP) assumed with Buy at Stifel 

22 Jan 2025 - 07:10- ForexEU Research- Source: Newsquawk