Additional European Equity News

Accor (AC FP) – Co. raises its FY23 RevPar to the range of +15-20% (prev. 5-9% Y/Y). CEO said the group should be able to return around EUR 3bln to investors between 2023-27. (Newswires)

Bayer (BAYN GY) - Co. has started the Phase 3 studies with novel contrast agent Gadoquatrane. (Newswires) 

GSK (GSK LN) - FDA fast-track for Gonorrhoea vaccine candidate. (Newswires)

JD Sports (JD/ LN) – Co. notes further positive trading and reiterates guidance. Moderation in growth was in line with management expectations. (Newswires)

Prosus (PRX NA) - FY (USD): Revenue 31.4bln (prev. 33.4bln), Profit 3.6bln (prev. 5.1bln), Headline Earnings USD 2.7bln (prev. 3.8bln); Delivers against strategic objectives and is on track to achieve profitability target. Expects margin improvement of 6% in H2 and has increased confidence in achieving its H1 2025 profit ambition, while continuing to deliver high growth. Naspers and the Co. get approval to remove cross-holding structure. (Newswires)

Severn Trent (SVT LN)/ United Utilities (UU/ LN) - UK regulators have given greenlight to the GBP 2.2bln water infrastructure scheme, which will tackle issues such as storm overflows. (Newswires) 

Essity (ESSITYB SS) downgraded to Neutral from Outperform at BNP Paribas

Dechra Pharmaceuticals (DPH LN) downgraded to Hold from Buy at Stifel

NN Group (NN NA) upgraded to Buy from Hold at Deutsche Bank

UBS (UBS SW) resumed with Equal weight at Morgan Stanley.

27 Jun 2023 - 07:40- EquitiesResearch Sheet- Source: Newsquawk