Additional European Equity News

Bunzl (BMZL LN) - Trading Statement: Continued margin growth drives profit upgrade for FY, expects to deliver robust revenue growth in 2024. Rev in H1 exp. to decrease by 3%. (Newswires) 

Enagas (ENG SM) - Agreed to sell its stake in Soto La Marina for around USD 15mln (Newswires) 

Eiffage (FGR FP) - Eiffage partners with Google (GOOG) Cloud to innovate and accelerate its AI strategy. (Newswires) 

Haleon (HLN LN) - Co. has sold its nicotine replacement therapy business for GBP 500mln, as its continues to cut its debt, according to The Times. (The Times)

H&M (HMB SS) - Q2 (SEK): Sales 59.60bln (Exp. 59.63bln), EPS 3.11 (exp. 3.24), Op. Profit 7.09bln (exp. 7.37bln). Says sales for June 2024 are expected to decrease by 6% vs June 2023. Says well on its way to achieving long term goals. (Newswires)

Nokia (NOKIA FH) - Entered into agreement with French state re. the sale of leading submarine networks business, for enterprise value of around EUR 350mln. Nokia will retain a 20% shareholding until targeted exit. (Newswires) 

Proximus (PROX BB) - Microsoft (MSFT) and Co. sign a new partnership for collaboration on digital communications and cloud. (Newswires) 

Segro (SGRO LN) - Acquired EUR 222mln of logistics units in the Netherlands. (Newswires) 

Stellantis (STLAM IM/STLAP FP) - completion of the second trance of 2024 share buyback program. (Newswires) 

Regeneron Pharmaceuticals (REGN), Sanofi (SAN FP) - Regeneron and Sanofi announced positive Phase 3 trial results for Dupixent in children aged 1-11 with eosinophilic esophagitis. The study showed significant improvements with Dupixent compared to placebo, supporting FDA approval and EMA review for this age group.

Smurfit Kappa (SKG LN) - All outstanding regulatory clearances for combination with Westrock Co. have now been obtained. (Newswires) 

Watches of Switzerland (WOSG LN) - FY (GBP): Revenue 1.53bln (exp. 1.57bln), Adj. EBITDA 179mln (exp. 196mln), Adj. EBIT 135mln (exp. 142.2mln). (Newswires) 

Dassault Systems (DSY  FP) downgraded to Hold from Buy at Deutsche Bank

Gecina (GFC FP) downgraded to Hold from Buy at Deutsche Bank

Kering (KER FP) upgraded at BofA

Klepierre (LI FP) downgraded to Hold from Buy at Deutsche Bank

Tag (TEG GY) upgraded to Buy from Hold at Deutsche Bank

Unibail-Rodamco-Westfield (URW NA) upgraded to Buy from Hold at Deutsche Bank

27 Jun 2024 - 07:02- EquitiesResearch Sheet- Source: Newsquawk