Additional European Equity News
Covestro (1COV GY) - ADNOC is said to be inching towards an improved offer for Covestro after finding potential ways to resolve the impasse, according to Bloomberg sources. (Newswires)
Eni (ENI IM) - Considers minority stake sale or ipo for its Enilive unit, according to Las Stampas. Sources add that the Co. has asked Mediobanca and JP Morgan to test interest, which could value the unit for up to EUR 10bln.
Georg Fischer (FI SW) - Announces withdrawal of share capital increase due to volunatary recommended public cash tender offer for all shares in Finland based Uponor. (Newswires)
Rheinmetall (RHM GY) – Co. is to supply Skyranger air defence systems in a contract worth a figure in the mid-three-digit million-euro range, with delivery commencing in 2026. (Rheinmetall)
Shell (SHEL LN) – Almost a third of Co’s Q4 2023 profit came from USD 2.4bln Shell LNG trading, with strong demand cited, according to Reuters sources. (Newswires)
UniCredit (UCG IM), MedioBanca (MB IM), Generali (G IM) – Italian press, without citing sources, suggested a large investment bank is preparing a feasibility study on a potential merger between the Cos, whereby UniCredit would buy Mediobanca and Generali’s main shareholdings via a stock-for-stock takeover. (Il Foglio)
BNP Paribas (BNP FP) upgraded to Buy from Hold at Berenberg
Credit Agricole (ACA FP) downgraded to Sell from Hold at Berenberg
Demant (DEMANT DC) downgraded to Hold from Buy at Deutsche Bank
Handelsbanken (SHBA SS) downgraded to Hold from Buy at HSBC
LondonMetric (LMP LN) upgraded to Buy from Neutral at Kempen
ISS (ISS DC) downgraded to Hold from Buy at Nordea
Knorr-Bremse (KBX GY) upgraded to Outperform from Neutral at BNP Paribas
SEB (SEBA SS) downgraded to Hold from Buy at HSBC
Tritax Big Box (BBOX LN) downgraded to Neutral from Buy at Kempen
23 Feb 2024 - 07:29- EquitiesEconomic Commentary- Source: Newsquawk
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