Additional European Equity News

BT (BT/A LN) – Co. has installed McKinsey partner to head a new strategy unit. (FT)

Hipgnosis (SONG LN) – Blackstone is considering plans for a GBP 1.2bln takeover bid for the Co, according to Sky News. Later, the Co. noted that the proposal is at a value that it would be minded to recommend to its shareholders. (Sky News)

IDS (IDS LN) – Top investors at the Co. have called Kretinsky’s latest offer as a “corporate predator”, with the bid significantly undervaluing he Co. (Telegraph)

Defence/Oil Names - There was a lack of any major geopolitical escalation over the weekend. Crude oil futures were subdued overnight. (Newsquawk)

Ocado (OCDO LN) – Co. has discussed with investors the possibility of moving its listing from London to New York, though this moved has been under scrutiny by investors, according to City AM. (City AM)

TotalEnergies (TTE FP) - Commences Marsa LNG project in Oman. (Newswires) 

Tesco (TSCO LN) - Announces commencement of its buy back of shares with an aggregate market value of up to GBP 1bln by April 2025. (Newswires)  

Worldline (WLN FP) – Announces composition of BoD which will be proposed at the next AGM on June 13th. (Newswires)

Unilever (ULVR LN) – Co. has struggled to find a big buyer for its ice cream businesses, and a GBP 15bln valuation for ice cream operations is touted to be unreasonable, according to City officials cited by The Telegraph. (The Telegraph)

UK Tobacco Names / Vape – Co. behind popular vape brand Elfbar has said it is “well-equipped” to survive the UK disposable vape ban, via BBC. (BBC)

UK Housing – First time buyers are facing the toughest conditions in 70yrs to buy a home, according to Building Societies Association, cited by BBC. (BBC)

UBS (UBSG SW) - The Swiss National Bank is raising the minimum reserve requirement for domestic banks from 2.5% to 4%, and to this end is amending the National Bank Ordinance as of 1 July 2024; will not affect the current monetary policy stance. (Newswires)

Volkswagen (VOW3 GY) - Between 2010 and 2014, Chinese attackers repeatedly gained access to Volkswagen's computers and siphoned off company knowledge, according to reports. (Der Spiegel) 

Royal Unibrew (RBEW DC) upgraded to Buy from Hold at Danske Bank

Prysmian (PRY IM) initiated with Hold at Jefferies

Nexans (NEX FP) initiated with Buy at Jefferies

22 Apr 2024 - 07:49- EquitiesResearch Sheet- Source: Newsquawk