Additional European Equity News

Banco BPM (BAMI IM) - The bid from UniCredit (UCG IM) has reportedly "upset" the Banco BPM HQ due to the "almost offensive" offer price, via Il Sole 24 citing sources; furthermore, Credit Agricole (ACA FP) has reportedly increased its stake to 19% (prev. 9.2%) in Banco BPM via equity swap agreements. (Il Sole 24/Newswires)

Compass Group (CPG LN) - FY (USD): Revenue 42bln (exp. 45.2bln), adj. EPS 1.195 (exp. 1.33). FY25 organic revenue >7.5%. (Newswires)

Universal Music Group (UMG NA) - Drake is suing UMG over allegations that it, in partnership with Spotify, artificially inflated the popularity of Kendrick Lamar's song "Not Like Us" using bots and payola. UMG denied the claims, asserting ethical marketing practices and that fans choose the music they enjoy. (Newswires)

Amundi (AMUN FP) downgraded to Neutral from Outperform at BNP

Avolta (AVOL SW) downgraded to Underweight from Overweight at Barclays

Givaudan (GIVN SW) upgraded to Add from Reduce at Baader Helvea

H&M (HMB SS) downgraded to Sectorperform from Outperform at RBC

Next (NXT LN) upgraded to Outperform from Sectorperform at RBC

Puig (PUIG SM) initiated with Buy at Citi

Smiths Group (SMIN LN) initiated with Buy at Kepler Cheuvreux

Stora Enso (STERV FH) downgraded to Equalweight from Overweight at Morgan Stanley