Additional European Equity News

Airbus (AIR FP) - Co. has enlisted Northrop Grumman (NOC) to improve its bid for a role in the GBP 6bln programme to construct new UK communication satellites. (FT)

BBVA (BBVA SM)/Santander (SAN SM) - The ECB is reportedly looking at different measures which put the capital ratios of the Cos under stress; for Santander, this will result in an increase of capital requirements which will be announced at end-2023, via El Confidencial citing sources. (EL Confidencial) 

Chip Names - Pragmatic Semiconductor is reportedly close to finalising a GBP 200mln injection from numerous backers, would value the Co. at GBP 500mln, via Sky News citing sources. (Sky News)

Fingerprint Cards (FINGB SS) - Co. has extended its collaboration with Infineon (IFX GY), becoming a premium partner. (GlobeNewswire)

Flight Names - Cost of renting new aircraft has surpassed pre-COVID levels. (FT)

Getinge (GETIB SS) - Q3 (SEK): EPS 2.66 (exp. 1.97), adj. EBITA 1.1bln (exp. 1.12bln), Gross Profit 3.89bln. Unchanged outlook. (Newswires)

Icade (ICAD FP) - Trading Update (EUR): end-September Revenue 1.02bln (prev. 0.97bln), Cash Position 1.25bln. Continuing its strategic analysis, finalising new plan which will be announced early-2024. Outlook: special dividend of a minimum 2.54/shr in 2024. (Newswires)

Indivior (INDV LN) - Settles antitrust multi-district litigation with Direct Purchasers for USD 385mln; taking a charge of USD 228mln in Q3, which represents the additional amount above the remaining USD 157mln of provisions. (Newswires)

MedioBanca (MB IM) - Delfin has a long-term commitment as an investor in the Co., via Il Sole 24 citing the Chairman. (Newswires)

Rolls-Royce (RR/ LN) - Co. is facing a potential GBP 350mln+ legal claim from investors who are seeking compensation after 2017 bribery allegations impacted the Co's share price. (Telegraph)

Telecom Italia (TIT IM) - Italian audit court has reportedly expressed criticism over the Treasury's intentions to join with KKR in their approach for the Co's grid, via Reuters citing a document which says additional information would be needed to justify the investments sustainability. The remarks are non-binding and do not prevent the Treasury from moving forward. Separately, board is to meet on November 3d to evaluate the bids form KKR with a formal meeting again on the 5th. (Newswires)

Telefonica (TEF SM) - Telefonica Espana expects to present a voluntary redundancy plan for as many as 5k employees to the union before November 8th, via Expansion. (Newswires)

UniCredit (UCG IM) - Merger of UniCredit Romania and Alpha Bank Romania, merger will have an impact on the CET1 ratio of the Co. by around 15bp. (Newswires)

Commerzbank (CBK GY) maintained with Buy at Warburg Research

Duerr (DUE GY) downgraded to Hold from Buy at Deutsche Bank

Tullow Oil (TLW LN) upgraded to Hold from Underperform at Jefferies

Yara (YAR NO) downgraded to Hold from Buy at Nordea

23 Oct 2023 - 07:15- Research Sheet- Source: Newsquawk