Additional European Equity News

Asos (ASC LN) – Earl, the head of Shadowfall, has reportedly built a short position in the Co. worth circa. GBP 4mln. (Sunday Times)

Banco de Sabadell (SAB SM) - S&P reaffirms rating at BBB; upgrades outlook to "positive" from "stable". (Newswires) 

Big Tech - UK is reportedly set to legislate to create new regulator to tackle Big Tech, the new regulator will reportedly target a small number of tech companies generating at least GBP 25bln in global turnover, or GBP 1bn in the UK, according to FT. (FT)

Bollore (BOL FP) – Q1 (EUR): Revenue 4.43bln, -11%; Bollore Energy 712mln, -16% due to lower volumes sold and a decline in oil product prices. (Newswires)

BP (BP/ LN) - Norway's oil fund is to vote against a resolution calling on BP to adopt tougher climate targets. (Newswires) 

Chip names - Softbank’s Arm will reportedly team up with manufacturing partners to develop the new semiconductor. Sources via FT describe it as the most advanced chipmaking effort the firm has ever embarked upon. (FT)

GAM Holdings (GAM SW) – Update: Briefly delaying FY results until 4th May, as advanced discussions are underway regarding Co’s strategic options. Including discussions with Liontrust Asset Management about a combination. End-December 2022: AUM CHF 75bln, Investment Management CHF 23bln, Fund 51.8bln. (Newswires)

German Stocks - Public sector workers in Germany have agreed on a wage deal with employers, according to ministers cited by Reuters. The agreement encompasses around 2.5mln workers, according to Reuters. (Newswires) 

HSBC (HSBA LN) - HSBC shareholders should vote against the Asia spinoff plan, according to proxy advisor ISS. (Newswires)

Icade (ICAD FP) – Update (EUR): end-March Revenue 286mln (prev. 324mln), FY22 dividend of 4.33/shr. Confirms FY23 guidance, as announced in February. (Newswires)

Ipsen (IPN FP) – Silvestri appointed as EVP, CMO and Head of Global Medical Affairs. (Newswires)

Orpea (ORP FP) – Response to the request made to board by shareholders: Board considers that the convening of a GM is not in the interest of the Co. Continue to ensure that each of the next steps in financial restructuring occur with full legal compliance. Continues to pursue objectives outlined in the restructuring plan and implement the refoundation plan. (Business Wire)

Pearson (PSON LN) – ISS and Glass Lewis have recommended investors vote against the Co’s remuneration package at the 28th April AGM. (Newswires)

Sanofi (SAN FP) - Sanofi has announced the launch of AVAXIM Junior in the UK, an inactive hepatitis A vaccine indicated for use in children aged 12 months to 15 years inclusive. (businesswire) 

Swiss Ex-Divs - Nestle (NESN SW) and Lindt & Sprüngli (LISN SW) will be trading without entitlement to its latest dividend payout. (Newswires)

UK Energy Suppliers - Energy regulator Ofgem could introduce the charge on energy bills by October to reimburse companies for rising levels of customer debt, according to The Times. (Times) 

UK Housing - House price growth slumps to just 0.2% in April, says Rightmove, adding just GBP 890 in a month despite uptick in buyer demand. Annual growth has slowed to 1.7%, down from 3% the previous month . (ThisIsMoney)

Vivendi (VIV FP) – Q1 (EUR): Revenue 2.29bln (exp. 2.29bln), growth across all Canal+ business and particularly Studiocanal +13.6% YY, driven by the success of several films. Agreement signed with IMI for the sale of 100% of Editis. Results allow Co. to look forward with confidence. (Newswires)

Antofagasta (ANTO LN) upgraded to Hold from Reduce at Peel Hunt

DNB (DNB NO) downgraded to Neutral from Buy at Citi

Elisa (ELISA FH) downgraded to Reduce from Hold at HSBC 

24 Apr 2023 - 07:24- EquitiesResearch Sheet- Source: Newsquawk