Additional European Equity News

Assa Abloy (ASSAB SS) - Acquires Invue in the US; will be accretive to EPS from the start. (Newswires) 

Banca Monte Dei Paschi (BMPS IM) - Co's bid for MedioBanca (MB IM) has not been agreed, but is not unexpected by MedioBanaca, via Reuters citing sources. Board to meet in the next few days to discuss the offer. (Newswires)

Burberry (BRBY LN) - Q3 Trading Update: LFL Revenue -4% Y/Y (co. consensus -12% Y/Y); says now more likely our H2 results broadly offset H1 adj. op. loss. By region comp sales (Y/Y): APAC -9%, EMEIA -2%, Americas +4%. 2025: Wholesale rev. is expected to decline by around 35% in FY25. Sees restructuring charge of around GBP 20mln in FY25. (Newswires)  

Pernod Ricard (RI FP) - India's antitrust watchdog is reportedly seeking additional information and documents from authorities in the probe on Pernod Ricard, via Reuters citing sources. (Newswires)

Rolls Royce (RR/ LN) - Awarded GBP 9bln contract from UK MoD for nuclear reactors. (Newswires) 

Severn Trent (SVT LN) - Trading Update: Expects to perform in line with guidance for FY; FY25/26 dividend anticipated to be 126.02p. (Newswires) 

Tobacco Names - Hong Kong is reportedly to look at banning the possession of e-cigarette cartridges in public, via SCMP. (Newswires)

Air Liquide (AI FP) upgraded to Buy from Hold at Redburn

Air France (AF FP) downgraded to Hold from Buy at Stifel 

Eurofins Scientific (ERF FP) downgraded to Equal Weight from Overweight at Barclays 

Ryanair (RYA ID) downgraded to Hold from Buy at Stifel 

SES (SESG SW) downgraded to Equal Weight from Overweight at Barclays 

IAG (IAG LN) upgraded to Buy from Hold at Stifel

WPP (WPP LN) upgraded to Buy from Hold at Kepler