Additional European Equity News

Air France (AF FP) - Confirms in talks with Air Europa on a commercial operation. (Newswires) Follows reports that the Air Europa is in talks to sell a stake to Air France

easyJet (EZJ LN) - FY (GBP): Revenue 9.31bln (exp. 9.33bln), EBIT 0.6bln (exp. 0.63bln). Expects to reduce winter losses with a significant improvement in Q1. Holidays customers planned to grow by 25% in FY25. (Newswires)

Ektab (EKTAB SS) - Q2 (SEK): Revenue 4.34bln (exp. 4.46bln), EPS 0.63 (exp. 0.82). (Newswires)

Ferrari (RACE IM)/Stellantis (STLAM IM/STLAP FP) - Italian police have searched the offices of some legal firms as part of a tax fraud investigation, Chair Elkann is one of those. (Newswires)

GSK (GSK LN) - Liquid meningitis vaccine has received EU authorisation. (Newswires)

JD Sports (JD/ LN) - Completes the previously announced acquisition of Courir. (Newswires)

Johnson Matthey (JMAT LN) - H1 (GBP): Revenue 5.63bln (prev. 6.5bln), Operating Profit 575mln (prev. 136mln), PBT 554mln (prev. 82mln). Full year outlook maintained, with performance more weighted to the second half driven by greater benefits from transformation and a stronger performance in PGM Services. (Newswires)

Just Eat (JET LN) - Co. has requested it be delisted from the LSE. The last date of trading of the Shares on the LSE will be 24 December 2024. Primary listing will be Euronext Amsterdam. (LSEG)

Lundbeck (LUNB DC) - Initiates a phase III trial with amlenetug for the treatment of Multiple System Atrophy; builds on the encouraging results of the AMULET phase II trial showing consistent trend towards amlenetug slowing clinical progression in MSA patients despite the primary endpoint not meeting statistical significance and follows discussions with health authorities. (Newswires)

Nationwide Building Society (NBS LN) - Following the Acquisition of Virgin Money, recorded a gain of GBP 2.3bln as value of net assets acquired. Gain provides significant headroom. Economic outlook remains uncertain. (Newswires)

Norsk Hydro (NHY NO) - Launching a new improvement programme to deliver NOK 6.5bln of improvements by 2030. (Newswires)

Pennon Group (PNN LN) - H1 (GBP): adj. Revenue 527mln (exp. 534mln), Net -30mln (exp. -9mln), adj. EPS -0.066. Guidance: outlook for SWW Revenue sees a continuation of lower customer demand. (Newswires)

Recordati (REC IM) - Main shareholder is in contact with other Italian firms over a possible sale. (Newswires)

SBB (SBB SS) - Q3 (SEK): Rental Income 805mln (prev. 1.19bln), Result -2bln (prev. -2.47bln), LTV 62% (prev. 52%). Over Q4 will see either unchanged or rising property values, will continue to see the trend in 2025. (Newswires)

Volkswagen (VOW3 GY) - Co. and SAIC agree to sell their Xianjiang plant, via Reuters citing sources. To extend their partnership to 2040. To jointly roll out 18 new models by 2030. (Newswires)

Aston Martin (AML LN) upgraded to Neutral from Underperform at Oddo Securities

BooHoo (BOO LN) downgraded to Hold from Buy at Jefferies

Coca-Cola (CCH LN) upgraded to Overweight from Neutral at JPMorgan

Direct Line (DLG LN) upgraded to Outperform from Neutral at BNP Paribas

Henkel (HEN3 GY) upgraded to Overweight from Neutral at JPMorgan

Lonza (LON SW) initiated with Buy at Redburn Atlantic

TotalEnergies (TTE FP) downgraded to Neutral from Outperform at BNP Paribas

Segro (SGRO LN) downgraded to Equalweight from Overweight at Barclays

Puig (PUIG SM) initiated with Overweight at Barclays

27 Nov 2024 - 07:10- EquitiesResearch Sheet- Source: Newsquawk