Additional European Equity News

Abrdn (ABDN LN) – Q3 Trading Update (GBP): AUMA 507bln, 2% YTD. (Newswires)

Anglo American (AAL LN) Production report Q3'24; guidance unchanged, copper & diamond output down

Beiersdorf (BEI GY) - 9-month (EUR): 7.5bln, +6.5%. Confirms FY Outlook. CEO: does not expect a China recovery in Q4. (Newswires)

Barclays (BARC LN) Q3 (GBP) PBT 2.2bln (exp. 1.88bln), Investment banking revenue 2.85bln (exp. 2.85bln), NII 3.31bln (exp. 3.11bln). Co says is on track to deliver against 2024 & 2026 targets

Bunzl (BNZL LN) - Q3 Trading Update Revenue +5.4% Y/Y. (Newswires) 

Bankinter (BKT SM) – Q3 (EUR): Net Profit 258mln (prev. 267mln Y/Y). (Newswires)

Eni (ENI IM) – KKR has purchased a 25% stake in Enilive for just under EUR 3bln. (Newswires)

Evolution AB (EBOG SS) - Q3 (EUR): Revenue 579mln (prev. 452mln), EBITDA 415mln (prev. 318mln), Profit 328mln (prev. 272mln). CEO "We anticipate an improved situation gradually during 2025". (Evolution)

Equinor (EQNR NO) – CEO, post-earnings, says the Orsted (ORSTED DC) investment is a counter-cyclical move. (Newswires)

FTSE 100 ex-dividend – BAE Systems (BA/ LN) will trade without entitlement to its latest dividend. (Newswires)

Fraser (FRAS LN) – Open letter to Boohoo (BOO LN) board. Proposes solution to “leadership crisis” to restore value for all shareholders. (Newswires)

GSK (GSK LN) – New positive Arexvy data in younger adults at risk. (Newswires)

Hermes (RMS FP) Q3 (EUR): Sales 3.70bln, +11.3 Y/Y (exp. 10.5%); Asia-Pac Sales (ex-Japan) 1.59bln, +1% (exp. +4.8%). Co. says APAC (ex-Japan) region is growing in Q3 despite downturn in traffic in Greater China since the end of Chinese new year

Inchcape (INCH LN) - FY24 Outlook maintained. (Newswires)

Indivior (INDV LN) - Reiterates the guidance from early-October. (Newswires)

Ipsos (IPS FP) – Q3 (EUR): Revenue 591mln, +0.5%. Slowdown in activity amid a more difficult business climate. Strategic review underway, new plans will be announced before summer-2025. (Newswires)

LSE (LSEG LN) – Q3 Trading Update (GBP): Total Income 2.2bln (exp. 2.08bln). Confident of continued growth into 2025. (Newswires)

Metso (METSO FH) – Q3 (EUR): Sales 1.16bln (exp. 1.123bln), Orders 1.22bln (exp. 1.27bln), adj. EBITA 196mln (exp. 197mln). Lower order intake in the prior periods resulted in a decline in group sales. Expect stable market activity, in the short term. Expect activity relating to copper to gradually improve. (Newswires)

MTU Aero (MTX GY) – FY Outlook (EUR): Revenue 7.3-7.5bln (exp. 7.36bln), adj. EBIT >1bln (exp. 0.98bln). Largest increase expected to be seen in the commercial series business. (Newswires)

Telecom Italia (TIT IM) – Exec has been suspended amid private corruption probe. (Newswires)

Neste (NESTE FH) – Q3 (EUR): Revenue 5.6bln (exp. 4.9bln), adj. EPS 0.02 (exp. 0.10), EBITDA 293mln (exp. 331mln). Voluntary SAF demand has, thus far, not been realised as expected. Performance in the current market is unsatisfactory, will be increasing focus on operational execution and capital discipline. (Newswires)

Relx (REL LN) – Reaffirms FY outlook. Underlying rev. growth YTD +7%. (Newswires) 

Renault (RNO FP) - CFO says the market is likely to be flat in Europe for 2025, he expects to Renault slightly outperform market (Newswires)

Sobi (SOB FH) – Q3 (SEK): Revenue 6.8bln (exp. 5.9bln). (Newswires)

Symrise (SY1 GY) - Q3: Sales +10.2%, continuing the "strong, profitable growth course". FY Guidance: sales target of 7%

Travis Perkins (TPK LN) – Q3 (GBP): Revenue -5.7%, driven by merchanting segment. FY adj. Op. profit exp. t be around 135mln. (Newswires)

Tietoevry (TIETO FH) – Q3 (EUR): Revenue 655mln (exp. 663mln), EPS 0.32 (exp. 0.32), EBIT 63mln (exp. 59mln). CEO: continue to operate in a lower-demand market, expect the market to remain soft for the remainder of the year and continue into 2025. (Newswires)

Unilever (ULVR LN) – Q3 (EUR): Sales 15.2bln (exp. 15.1bln), flat Y/Y, adj. growth of 4.5%: Beauty 3.2bln, +5.5% Y/Y; Personal Care 3.4bln, -5.7%; Home Care 3.0bln, -2.9%; Nutrition 3.2bln, -1.5%; Ice Cream 2.4bln, +8.1%. FY24 Outlook unchanged. Productivity programme and separation of Ice Cream are on track. (Unilever)

24 Oct 2024 - 07:10- EquitiesResearch Sheet- Source: Newswires