Additional European Equity News

3i (III LN) - Q3 Trading Update: Performance remains strong, seeing attractive growth opportunities in growth. (Newswires) 

Ericsson (ERICB SS) – Two 7yr funding agreements with the EIB for EUR 420mln. (Newswires)

Equinor (EQNR NO) - To take full ownership in Empire Wind through a swap transaction with BP in the US. (Newswires) 

Deutsche Telekom (DTE GY) - Shares seen -1.7% in pre-market trade as a read-across from T-Mobile US earnings. T-Mobile US Inc (TMUS) - Q4 2023 (USD): EPS 1.67 (exp. 1.90), Revenue 20.48bln (exp. 19.64bln). (Newswires)

Fortum (FORTUM FH) - Starts talks on job cuts in some units. (Newswires) 

Orion (ORNBV FH) - Additional ODM-208/MK-5684 Phase 2 data presented. (Newswires) 

Sanofi (SAN FP) – US FDA has approved the use of Dupixent for allergic inflammation of the oesophagus in those aged 1-11. (Newswires)

Superdry (SDRY LN) – H1 (GBP): PBT 3mln (prev. -17mln). Expects FY profitability to be impacted by weaker trading. Christmas trading proved challenging, do not expect market conditions to improve in the near-term. Exists a material uncertainty related to the going concern. (Newswires)

Signify (LIGHT NA) - CEO says Co. is to cut 1k jobs as part of restructuring plans. (Newswires) 

Telia (TELIA SS) - CEO says tough time in TV and media businesses in advertising market. (Newswires) 

WH Smith (SMWH LN) – 20-week Trading Update: Revenue +8% Y/Y. Continue to see improved passenger numbers across the UK. On track to open 15 stores each year over the medium term. (Newswires)

Whitbread (WTB LN) - Extends GBP 300mln buyback to April 24th 2024. (Newswires) 

European Luxury upgraded to Overweight at Barclays

European Utilities downgraded to Marketweight at Barclays

IHG (IHG LN) downgraded to Sell from Hold at Deutsche Bank

26 Jan 2024 - 07:05- EquitiesResearch Sheet- Source: Newsquawk