Additional European Equity News

AB Foods (ABF LN) – Q3 trading update (GBP): Revenue 4.73bln (+16% Y/Y). Retail Sales 1.998bln (+13% Y/Y). Based on current trading conditions. Co. expects adj. operating profit to now be moderately ahead of last year. Co. has seen strong constant currency sales growth in grocery and ingredients. Primark has continued to trade in line with Co. expectations, growing 13% in the quarter. (Newswires)

Aston Martin (AML LN) - The Co. and Mercedes Benz (MBG GY) announces amendment and restatement of strategic co-operation agreement. Separately, Co. is is to continue long-term strategic co-operation. Has intention to form strategic supply agreement with Lucid Group (LCID). Aston Martin is to issue 28.4mln shares to Lucid with up to USD 323mln cash payment. (Newswires)

Atlas Copco (ATCO SS) - Facilities will be expanded by around 20k square meters and are expected to be in full use by end of 2025. (Newswires)

Casino (CO FP) - Co. says EBITDA should grow again in H2 2023 based on a continuation of good trends in Monoprix, Franprix, and CDiscount, alongside a progressive improvement in DCF EBITDA. Co. says debt deal is to require over EUR 900mln equity boost to implement plan. (Newswires) 

Cineworld (CINE LN) – Offers a Chapter 11 update: proposed restructuring will involve the release of around USD 4.5bln of the group’s funded indebtedness. The proposed restructuring will not provide for recovery for holders of Co’s existing equity interest. The proposed restructuring involves the execution of rights offering to raise proceeds of USD 800mln and provision of USD 1.46bln in new financing. (Newswires)

Deutsche Bank (DBK GY) - Co. tells investors some of their Russian shares are missing. (Newswires)

Euronext (ENX FP) - Sells 11.1% stake in LCH SA to LCH Group Holding Limited for EUR 111mln. (Newswires)

GSK (GSK LN) - Japan’s Ministry of Health, Labour and Welfare approves Shingrix for the prevention of shingles in at-risk adults aged 18 and over. (GSK)

Renault (RNO FP) - Alpine Racing Ltd speeds up its development and attracts EUR 200mln from a group of 5 investors, including Ryan Reynolds and Redbird Capital. (Newswires / FT)

SES Imagotag (SESL FP) - Refutes in strongest possible terms each of the allegations made in the Gotham City Short Report. (Newswires)

Siemens Energy (ENR GY) - Buyout firms abandoned talks before plunge, according to Bloomberg. (Newswires)

Aryzta (ARYN SW) initiated with Buy at Stifel

Endesa (ELE SM) upgraded to Equal Weight from Underweight at Morgan Stanley

Siemens Energy (ENR GY) downgraded to Neutral from Buy at Citigroup

26 Jun 2023 - 07:34- Research Sheet- Source: Newsquawk