Additional European Equity News

AstraZeneca (AZN LN) – Voydeya has been recommended for EU approval. (Newswires)

Banco BPM (BAMI IM) - CONSOB is looking into trades last month, as Il Sole 24 reports that 25% of the banks capital was traded in January. (Newswires)

Bunzl (BNZL LN) – FY (GBP): Revenue 11.79bln (exp. 11.85bln), adj. EBIT 944mln (exp. 865mln), adj. EPS 1.91 (exp. 1.82). To acquire an 80% stake in Nisbets & associated entities for a consideration of 339mln. (Newswires)

Capricorn Energy (CNE LN) – Continues to hold constructive talks with the Egyptian General Petroleum Co. (Newswires)

Euronav (EURN BB) – Order for two dual-fuel tankers. Takes the total contract backlog to USD 1.9bln. (Newswires)

GSK (GSK LN) – Positive headline results from Eagle-1 phase III trial for Gepotidacin in uncomplicated urogenital gonorrhoea. (Newswires)

Hammerson (HMSO LN) - Co. has sold Union Square to Lone Star Real Estate for GBP 111mln cash, concluding the GBP 500mln non-core disposal programme. (Newswires) 

Moncler (MONC IM) - Rivetti family to become direct shareholders in the Co., via Il Corriere della Sera. (Newswires)

Santander (SAN SM) - Co. has reportedly decided to reject three EUR 650-700mln offers for its mortgage portfolio of Santander Consumer Finance, via El Confidencial citing sources. (Newswires)

Stellantis (STLAM IM/ STLAP FP) - Co. said reached it a multi-billion-EUR frame agreement with leasing firm Ayvens to sell up to 500k vehicles across Europe over the next three years, according to Reuters. (Reuters)

Snam (SRG IM) - Co. will begin work on the Adriatic Line gas pipeline by May, via Il Messaggero citing the CEO. (Newswires)

Tele2 (TEL2B SS) – Kinnevik (KINVB SS) has agreed to sell its entire shareholding in Tele2 to investment vehicle controlled by Iliad (ILD FP) and NJJ, for SEK 13bln. (Newswires)

UK Housebuilding – CMA has found concerns in the housebuilding market. Planning system and limitations of speculative private development have seen too few homes constructed. Launching an investigation into Barratt Development (BDEV LN), Bellway (BWY LN), Berkeley (BKG LN), Bloor Homes, Persimmon (PSN LN), Redrow (RDW LN), Taylor Wimpey (TW LN) & Vistry (VTY LN). (CMA)

Wincanton (WIN LN) - CEVA has lifted its cash offer to GBP 4.80/shr for each scheme shares. Wincanton says the bidder has not provided them with any formal proposal relating to a possible offer, incl. price and terms. (Newswires)

Asos (ASC LN) downgraded to Hold from Buy at ScoGen

BASF (BAS GY) upgraded to Buy from Hold at Stifel Nicolaus

Halma (HLMA LN) downgraded to Hold from Buy at HSBC

Hiscox (HSX LN) upgraded to Buy from Add at Peel Hunt

Imerys (NK FP) downgraded to Neutral from Outperform at Exane BNP

Lufthansa (LHA GY) downgraded to Equalweight from Overweight at Barclays

Nestle (NESN SW) downgraded to Hold from Buy at Stifel Nicolaus

Swiss Life (SLHN SW) downgraded to Hold from Buy at Vonotobel 

26 Feb 2024 - 07:33- Research Sheet- Source: Newsquawk