Additional European Equity News

Alstom (ALO FP) - Co. wins a EUR 300mln contract to equip 2 RER lines in the Ile-de-France region with the latest Nexteo signals technology. (Newswires)  

Britvic (BVIC LN) – FY23 (GBP): Adj. EBIT 218mln +5.9%, Revenue 1.75bln +6.6%. FY dividend +6.2% at 30.8p. (Newswires)

Cellnex (CLNX SM) - CEO says they could resurrect the German GD Towers offer when the time is correct. Considering full disposal of Australian and Ireland units. Consolidation among the largest European tower operators in the next two-three years if market conditions allow. (Newswires)

CRH (CRH LN) - To divest Lime operations in Europe. (Newswires) 

Genus (GNS LN) – Trading Update: Group Adj. PBT is currently expected to be in-line with market expectations for FY24, with phasing expected to be second-half weighted. (Newswires)

ICAP (ICP LN) - Co. is to join the FTSE 100 in December, according to the indicative FTSE Russel change.

Johnson Matthey (JMAT LN) – H1 (GBP): Revenue 6.5bln, Net 63mln, EBIT 136mln, PBT 82mln. Approved an interim dividend of 0.22/shr. (Newswires)

Kingfisher (KGF LN) – Q3 Trading Update (GBP): Revenue 3.2bln (exp. 3.32bln), LFL -3.9%Y/Y (exp. -1.96bln Y/Y). Sees continuation of Q3 trends into Q4, sales in 3 weeks to November 18th -3.4% Y/Y. Cuts FY23/24 Adj. PBT 560mln (prev. guidance 590mln). (Newswires) 

Rotork (ROR LN) – Trading Update: Continued order momentum FY expectation confirmed. (Newswires)

Rio Tinto (RIO LN) - Rio Tinto settles a 2017 SEC lawsuit regarding RTCM impairment disclosure, pays a USD 28mln fine. The company, without admitting guilt, agrees to hire a consultant for compliance. Former CEO Tom Albanese settles, paying a USD 50k penalty. With this settlement, all investigations of Rio Tinto regarding this matter have been finalised. (Newswires) 

Sage Group (SGE LN) – FY23 (GBP): Adj. EPS 32.3p (prev. 26.4p Y/Y), EBITDA 553mln (prev. 477mln Y/Y). Commencing a share buyback for up to GBP 250mln, between 22nd November and 23rd April. (Newswires)

Severn Trent (SVT LN) – H1 (GBP): Revenue 1.17bln (exp. 1.15bln), PBT 71mln (exp. 106mln}), adj. EPS 0.297. No alterations to FY guidance. Increases capital programme, on track to deliver circa. 1bln in the FY. (Newswires)

Smith+Nephew (SN/ LN) – To pay an initial cash consideration of USD 180mln at closing and up to 150mln more contingent on financial performance, in relation to the definitive agreement to acquire Cartiheal. (Newswires)

ABN Amro (ABN NA) downgraded to Underperform from Market Performa at Keefe Bruyette

Glencore (GLEN LN) downgraded to Hold at Liberum

Verbund (VER AV) downgraded to Sell from Neutral at Citi 

22 Nov 2023 - 07:20- EquitiesEconomic Commentary- Source: Newsquawk