Additional European Equity News

ABB (ABBN SW) – Said it was aware of an IT security incident that impacted certain ABB systems and the incident has been successfully contained. (Newswires)

Aviva (AV/ LN) - Q1 2023 (GBP): General Insurance GWP +11% Y/Y, Protection & Health Sales +11% Y/Y, Workplace Net flows +25% Y/Y, Co. notes of continued growth momentum across the Group. Strong and resilient capital position, with share buyback nearing its completion. Co said it is on track to meet or exceed Group targets. (Aviva)

Banks - UK's Competition and Market Authority says CMA has provisionally found Citi (C), Deutsche Bank (DBK GY), Morgan Stanley (JPM), HSBC (HSBA LN), and RBC to break competition law on UK bonds in 2009-2013; fine may be imposed. Deutsche Bank may not be fined. (Newswires) 

Brunello Cucinelli (BC FP) – Has agreed to sell stake in in Italy yarn factory Cariaggi Lanificio to Chanel. (Newswires)

Diasorin (DIA IM) – CEO says over half of the Co. revenue derives from the US, sales in 2022 reached EUR 1.3bln, +10%; company looking at growth in US and Chinese markets. (II Sole 24 Ore)

Enel (ENEL IM) – Environment groups ClientEarth and WWF Italy have called on Enel to clarify its stance over the building of a new gas power station in the south of the country. (Newswires)

Legrand (LR FP) – Announced a sustainability-linked bond issue of EUR 700mln, with a 6-year maturity and annual coupon of 3.5%. (Newswires)

Lufthansa (LHA GY) – Italy’s government will reach a deal with the Co. for the sale of a 40% stake in the state-owned airline on Thursday or Friday. (II Sole 24 Ore / La Stampa)

Marks & Spencer (MKS LN) - FY 2022 (GBP): Revenue 11.9bln (prev. 10.9bln). Adj. Pretax 482mln (prev. 522.9mln). Clothing & Home sales up 11.5%; Store sales up 14.9%, online up 4.8%; Strong growth in Click & Collect. Co. plan to restore dividend in FY24. (Marks & Spencer)

Pirelli (PIRC IM) - The Italian government is said to be keeping an eye on Sinochem's role in Pirelli's shareholders' pact, according to reports citing Italian press. (Newswires) 

Publicis (PUB FP) – Sapient will acquire Publicis Sapient AI Labs, in a parentship between Publicis Sapient, Elder Research and Tquila. (Newswires)

SSE (SSE LN) - FY 2022 (GBP) - Revenue 12.5bln (prev. 8.70bln Y/Y). Adj. pre-tax 2.15bln (prev. 3.48bln). EBITDA 3.38bln (prev. 2.25bln). (Newswires) 

Tullow Oil (TLW LN) - Co. affirms its FY23 total oil and gas production guidance. (Newswires) 

24 May 2023 - 07:41- Research Sheet- Source: Newswires

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