Additional European Equity News

Barratt Developments (BDEV LN) - Chairman John Allan is to step down on June 30th. (Newswires) 

BT (BT/A LN) - Altice UK has acquired a further 650mln shares in BT, raising the stake to around 24.5%. Altice UK confirmed it does not intend to make an offer for BT. (Newswires) Shares seen +2%

Credit Suisse (CSGN SW) – A derivatives committee on Monday that a bankruptcy credit event had not occurred in relation to Credit Suisse, quashing investors efforts to trigger a payout on credit insurance linked to the Co., according to reports. (Newswires)

Drax (DRX LN) - Co. said adj. EBITDA expectations remain in line with analyst estimates, and targets returns significantly above Co's cost of capital. (Newswires) Shares seen +2%

Fresnillo (FRES LN) – AGM Statement, Chairman: “… we have seen reform to the Mining Law in Mexico, though our preliminary analysis indicates there is no material impact for Fresnillo.” Additionally, “… confident that we will maintain the steady progress of the last 12 months.”. (Newswires)

ITV (ITV LN) – Investment in PitPat, adding it to its media for equity portfolio. (Newswires)

Shell (SHEL LN) – Has cut crude oi imports at its Singapore refinery this month and is relying on smaller tankers, according to the government notices and shipping data. (Newswires)

Swiss RE (SREN SW) – Has decided to leave the Net-Zero Insurance Alliance, without providing a reason for their decision. (Newswires)

Telecom Italia (TIT IM) – Cassa Depositi e Prestiti and Macquarie (MQG AC) are expected to respond on Tuesday to the Co. request for clarifications regarding their joint bid for the phone groups landline grid. (Newswires)

Tullow Oil (TLW LN) – Co’s working interest in Blocks 10BB, 13T and 10BA in south Lockichar is to increase from 50% to 100%. (Newswires)

23 May 2023 - 07:05- EquitiesResearch Sheet- Source: Newsquawk