Additional European Equity News

Akzo Nobel (AKZA NA) - Announced the next step to reduce costs; aim to be finalised by end-2025; plan includes reduction of around 2k positions globally. (Newswires) 

Baywa (BYW6 GY) - First draft of restructuring; considers a number of operating-level cost cutting measures and expects an agreement can be reached. Shares indicated +8%

British Land (BLND LN) - Appointed Kelly Cleveland as Head of Real Estate and Investment. (Newswires) 

Barclays (BARC LN) - Shares placed in Duneim (DNLM LN) at GBP 11.40/shr. (Newswires) 

Credit Agricole (ACA FP) - Co. is said to be in advanced talks to invest in Guangzhou Automobile Group (2238 HK) Co.’s financial leasing unit, according to Bloomberg citing sources. The bank plans to buy 50% of the leasing unit via a capital increase, to tap into the Chinese EV market. (Bloomberg)

GSK (GSK LN) - Positive EU Opinion for GSK liquid Menveo vaccine. (Newswires) 

Johnson Matthey (JMAT LN) - Commences second tranche of GBP 250mln share buyback. (Newswires) 

Rasberry Pi (RPI LN) - H1 (USD): Revenue 144mln (prev. 89.3mln Y/Y), Gross Profit 34.2mln (prev. 23.2mln Y/Y). Higher unit volumes anticipated for H2, supported by new product launches. Maintains FY guidance. (Newswires) 

Legrand (LR FP) - 2030 targets Revenue of EUR 12-15bln; EUR 5bln dedicated for acquisitions of companies. (Newswires) 

LondonMetric Property (LMP LN) - Appointed Darren Richards as CIO. (Newswires) 

Smiths (SMIN LN) - FY (GBP): Revenue 3.13bln (exp. 3.14bln). Reaffirms medium-term targets. FY25: Expects organic rev. growth of 4-6%. (Newswires) 

Tui (TUI1 GY) - Set to deliver a strong FY24 in line with expectations. Markets + airline remains well ahead with Bookings2 +6%. Promising start to winter 24/25 as consumers continue to prioritise spending for leisure experience. (Newswires)  

Nordex (NDX1 GY) - To supply 41 turbines for 148MW wind farm in Poland. (Newswires) 

SBB (SBBB SS) - SBB unit Sveafastigheter intends to list on the Nasdaq First North Premier Growth Market in Stockholm. (Newswires) 

24 Sep 2024 - 06:54- Research Sheet- Source: Newsquawk