Additional European Equity News

888 (888 LN) – GB Gambling commission has concluding its review on Co., without imposing any license conditions. (Newswires)

Andritz (ANDR BB) – To supply a pressurised refining system for production of sustainable insulation to Switzerland. New production line is scheduled to commence operations in Q3’25. (Newswires)

Aston Martin (AML LN) - Reportedly to name Bentley CEO Hallmark as the new leader, via FT. (FT)

Boliden (BOL SS) – total impact on Co’s op. profit in Q1’24 estimated to be approx. SEK 500mln; SEK 200mln is due to reduced production and SEK 300mln to delayed customer deliveries. Some impact on production. (Newswires)

Darktrace (DARK LN) - KKR Dark Aggregator sold its 2.5% stake in Darktrace at GBP 4.25/shr. (Newswires)

Frasers (FRAS LN) – Discloses 9.14% (prev. 8.94%) stake in Horny (HRN LN) as at March 20. (Newswires) 

Galderma (GALD SW) - CFO says they have a theoretical IPO opening price of CHF 60/shr. (Newswires)

Gatwick Airport – Reportedly intends to pay a dividend for the first time since 2018, dividend expected in 2024 and would pay out to the likes of Vinci (DG FP), via FT citing the Co. (FT)

JD Wetherspoon’s (JDW LN) – HY (GBP): Sales 991mln, +8.2% Y/Y. Board has not recommended the payment of a final dividend. 7 weeks to 17th March: LFL sales +5.8%. (Newswires)

Novartis (NOVN SW) - Disappointed with the draft recommendation of the Canadian expert committee issued by Cadth for Leqvio. (Newswires)

Orpea (ORP FP) - Completes the reverse share split. (Newswires)

Phoenix (PHX LN) – FY23 (GBP): Total Cash Generation 2.02bln, Recommending Div/shr 26.65p, +2.5% (total dividend 52.65p). Target 900mln adj. Op. Profit in 2026. (Newswires)

Saga (SAGA LN) – Co. has reportedly set an April deadline for prospective buyers to submit indicative offers relating to its ocean cruise operation, via Sky News citing sources. (Sky News)

Santander (SAN SM) – Confirms it is on track to meet 2024 targets. Expects over EUR 6bln of dividends/buybacks against 2024 results. (Newswires)

Schibsted (SCHA LN) – Proposes capital return package of NOK 24bln to shareholders. Said to receive NOK 29bln of cash proceeds after closing of Adevinta offer. Capital return to shareholders will be implemented also through multi-year share buyback programme of approx. NOK 4bln. (Newswires)

Siemens (SIE GY) – Announces that OBB has ordered an additional 19 trains. (Newswires)

Tod's (TOD IM) - CONSOB has given approval to the offer document submitted by LVMH (MC FP) to purchase 36% and delist it. (Newswires)

Vodafone (VOD LN) – UK CMA says the Vodafone deal with CK Hutchinson’s (0001 HK) Three could lead to higher prices for customers and affect investment in UK mobile networks. Cos have five working days to respond with meaningful solutions, or the deal will be referred to a Phase 2 investigation. (CMA)

Banco BPM (BAMI IM) – Fitch has upgraded the Co’s ratings by one notch. (Newswires)

Wienerberger (WIE AV) upgraded to Buy from Neutral at Citi

22 Mar 2024 - 07:10- EquitiesResearch Sheet- Source: Newsquawk