Additional European Equity News

3i (III LN) - LFL sales growth +6.9% Y/Y and net new store openings of 111 are on track. (Newswires) 

AB Foods (ABF LN) - On its Sugar business, says, high rainfall has caused a slow start to processing season in Africa, but guidance is overall unchanged. (Newswires) 

Balfour Beatty (BBY LN) - Secured GBP 883mln NZT contract. (Newswires) 

Credit Agricole (ACA FP) - Credit Agricole staff have questioned management over the bank’s 2024 decision to acquire a 7% stake in Worldline, amid ongoing fraud allegations at the payments firm. Employee representatives reportedly emailed executives seeking clarity on whether adequate due diligence was performed.

European Retailers - European retail is now the most distressed sector, surpassing industrials and real estate, due to weak discretionary spending, margin pressure, and tighter credit. Distress in retail and consumer goods has surged rapidly, reaching its highest level since 2009, according to Weil, Gotshal & Manges’ latest European Distress Index. 

Eurozone Banks - The EU agreed on rules to simplify winding down smaller failing lenders, allowing them access to deposit guarantee funds to bolster loss-absorption buffers without forcing depositors to bear losses, aiming to better integrate member states’ banking sectors.

Fincantieri (FCT IM) - EUR 700mln order for new combat ships. (Newswires)

H&M (HMB SS) - Q2 (SEK): Op Profit 5.9bln (exp. 5.8bln), Revenue 56.7bln (exp. 57.1bln), Sales in local currencies +1%; June: Sales increase of 3% Y/Y. (Newswires) 

Obesity Drugs - The UK is investigating a possible genetic link between obesity drugs like Wegovy (NVO) and Zepbound (LLY) and acute pancreatitis, urging patients with pancreas inflammation after taking these drugs to undergo testing. The drug regulator and Genomics England aim to identify genetic vulnerability to this serious side effect. (Newswires) 

Mercedes-Benz (MBG) - Mercedes-Benz revealed the AMG GT XX electric hypercar concept, its first on a new EV sports-car platform, ahead of a key summer launch. The vehicle showcases technology set for road use in 2026, signalling the automaker’s deeper push into next-gen electric performance models. (Bloomberg) 

Serco (SRP LN) - Trading Update H1 (GBP): Revenue 2.4bln. Maintains FY guidance. Appoints Keith Williams as board Chair. (Newswires) 

Shell (SHEL LN) - Says it has no intention of making an offer for BP (BP/ LN), via Bloomberg. (Bloomberg)

Fuchs (FPE3 GY) initiated with Buy at Jefferies

Proximus (PROX BB) initiated with Buy at Berenberg

Valeo (VLO FP) upgraded to Overweight from Underweight at Morgan Stanley

26 Jun 2025 - 07:06- EquitiesEU Research- Source: Newsquawk