Additional European Equity News

Adidas (ADS GY) – Celebrity Bella Hadid has reportedly hired lawyers to sue Adidas accusing them of a damaging campaign related to the 1972 Munich Massacre, according to TMZ citing unverified sources. (TMZ)

BT (BT/ LN) - Altice (ATUS) took out a GBP 1.5bln margin loan against its BT stake. Reports suggest Altice may be forced to sell its stake in BT due to growing debt concerns and credit rating downgrades. (CityAM). Separately, Co. has been fined GBP 17.5mln for 999 call-handling failures. (Newswires)

Entain (ENT LN) - Appointment of CEO Gavin Isaacs. (Newswires) 

FTSE 100 - Large index firms are said to be lobbying for a push to make shareholder registers fully digital. (FT)

Galp (GALP PL) - Q2 (EUR): Adj. EBITDA 849mln (prev. 916mln Y/Y), Adj. Net Profit 299mln (prev. 258mln Y/Y). Sees FY24 OCF above 2bln (prev. guided "around" 2bln). (Newswires) 

Leonardo (LDO IM) - Global combat air programme partners unveil new concept model of next gen combat aircraft. (Newswires) 

Luxury Sector - Dolce & Gabbana reportedly ready to consider an IPO, according to reports citing its CEO. (Newswires) 

Ocado (OCDO LN) - Kroger roll out of new tech enhancements; Kroger to implement Ocado's latest technologies across CFCs. (Newswires) 

Rentokil Initial (RTO LN) – Former BT boss has reportedly been eyeing a bid to take over Rentokil, according to the Times. (Times)

UniCredit (UCG IM) – Co. aims to cut staff and send some employees into early retirement, via Il Messaggero. (Il Messaggero)

Vodafone (VOD LN) - Sells a further 10% stake in Vantage Towers for EUR 1.3bln; net proceeds now EUR 6.6bln. (Newswires) 

Vivendi (VIV FP) - Presented to supervisory board update of split project; Havas would be listed as a Dutch public limited company. Canal+ would be listed on the LSE. Decision could be taken at the end of Oct 2024. (Newswires) 

Zurich Insurance (ZURN SW) – Co. is studying a potential deal with FinecoBank (FBK IM), according to Il Messaggero. (Il Messaggero)

Barry Callebaut (BARN SW) upgraded to Buy from Neutral at Citi 

Evolution (EVO SS) downgraded to Equal Weight from Overweight at Morgan Stanley

22 Jul 2024 - 07:28- EquitiesResearch Sheet- Source: Newsquawk