Additional European Equity News

AstraZeneca (AZN LN) – Vaxzevria showed no increased incidence of thrombosis with thrombocytopenia following a second dose. No specific risk factors of definitive cause of TTS following the COVID-19 vaccine have been identified. (Newswires)

ASM International (ASM NA) – Q2 net EUR 108.4mmln vs prev. EUR 74.1mln. Revenue EUR 411.7mln vs exp. EUR 405mln. Co. has stared a EUR 100mln share buyback programme. Gross margin 48.1% vs prev. 48.3%. (Newswires)

Aston Martin (AML LN) - Q2 revenue GBP 274mlb vs exp. GBP 247mln. Adj. EBITDA GBP 28.1mln vs prev. GBP -50.9mln. (Newswires) 

Barclays (BARC LN) - Q2 CIB revenue GBP 2.98bln vs exp. GBP 3.04bln. Total income GBP 5.42bln vs exp. GBP 5.32bln. CET1 ratio 15.1% vs exp. 14.8%. CET1 ratio is to remain above target range of 12-14%. Co. expects to deliver ROTE above 10%. Co. is to initiate a share buyback scheme of up to GBP 500mln. Co. announces an interim dividend of GBP 0.02/shr. Co. reports a credit impairment release of GBP 797mln. (Newswires)

Bureau Veritas (BVI FP) - H1 revenue EUR 2,42bln vs prev. EUR 2.2bln. Adj. operating profit EUR 378.2mln vs prev. EUR 215mln. Co. raises FY21 revenue guidance. (Newswires) 

British American Tobacco (BATS LN) - H1 adj. operating profit GBP 5.34bln vs exp. GBP 5.2bln. Revenue GBP 12.2bln vs exp. GBP 12.0bln. HY cigarette and THP volume share +20bps. H1 adj, underlying dilute share GBP 1.675/shr. (Newswires)

Deutsche Boerse (DB1 GY) - Q2 revenue EUR 881.7mln vs exp. EUR 876mln. EPS EUR 1.69 vs prev EUR 1.40. Adj. EBITDA EUR 518mln vs prev. EUR 440.7mln. Co. affirms its guidance. (Newswires) 

Elior (ELIOR FP) – Q3 revenue EUR 914mln vs prev. EUR 672mln. Organic revenue +39.2% YY. (Newswires)

Equinor (EQNR NO) – Q2 revenue USD 17.5bln vs prev. USD 17.6bln QQ. Adj. operating profit USD 4.64bln vs prev. USD 0.4bln QQ. Net USD 1.58bln vs prev. USD 650bln. Co. has stated the first tranche of its USD 300mln share buyback scheme. (Newswires)

Fresnillo (FRES LN) – Q2 attributable production: gold 200.2k/oz, -12.3%; silver 14.9mln/oz, +17.9% QQ. Remain on target to hit FY21 targets and production guidance for the period is unchanged. Assessing any potential impact that could result from the implementation of a new law restricting its ability to subcontract labour in Mexico. (Newswires)

ITV (ITV LN) – H1 total external revenue GBP 1.54bln vs prev. GBP 1.21bln, ITV Studios revenue GBP 0.8bln vs prev. GBP 0.6bln. Adj. EBITA GBP 327mln vs prev. GBP 165mln. Remain optimistic about the future. Intend to recommence a progressive dividend policy based on a notional dividend of GBP 0.05/shr, first dividend would be expected to be GBP 0.033/shr final dividend for FY21. (Newswires)

Klepierre (LI FP) – H1 revenue EUR 475mln vs prev. EUR 616mln, net cash flow EUR 248mlnv s prev. EUR 453mln. Confirms Fy21 targets for net cash flow. Not possible to assess the potential impact of new COVID-19 measures on shopping centres in H2. (Newswires)

MAN SE (MAN GY) - H1 revenue EUR 6.4bln vs prev. EUR 4.7bln. (Newswires) 

Metro (B4B GY) - Q3 EBITDA EUR 310mln vs prev. EUR 175mln. LFL revenue +15% YY. Co. raises FY revenue and EBITDA outlook. (Newswires) 

Metro Bank (MTRO LN) – H1 pretax GBP -138mln; underlying pretax GBP -110mln vs prev. GBP -88.4mln. Underlying NII GBP 133.6mln, relatively unchanged. Outlook for H2 will depend on the recovery pace. Do not anticipate a need to issue debt capital in H2. (Newswires)

Nexans (NEX FP) - H1 EBITDA EUR 222mln vs exp. EUR 211mln. Revenue EUR 3.11bln vs exp. EUR 3.0bln. Co. raises FY21 ROCE guidance. (Newswires) 

Red Electrica (REE SM) – Q2 revenue EUR 975.9mln vs prev. EUR 977.9mln. Net EUR 177.1mln vs prev. EUR 159.1mln. EBITDA EUR 771.3mln vs prev. EUR 766.2mln. (Newswires)

Rio Tinto (RIO LN) – H1 net USD 12.31bln vs exp. USD 12.1bln, underlying earnings USD 12.1bln vs prev. USD 4.7bln. Propose an interim dividend of USD 5.61/shr, representing 75% of underlying earnings. Expect to be in a position to pay fully franked dividends for the foreseeable future. (Newswires)

Scor (SCR FP)– Q2 net EUR 335mln vs exp. EUR 100mln. Gross Written Premiums (GWP) 4.32bln vs exp. EUR 4.0bln. (Newswires)  

Shell (RDSA LN) – To acquire Inspire Energy Capital. (Newswires)

Siltronic (WAF GY) - H1 EBITDA EUR 108mln vs prev. EUR 100.4mln. Revenue EUR 341.1mln vs prev. EUR 323mln YY. CEO notes that demand is increasing in all corners of its markets. (Newswires) 

Smufit Kappa (SKG ID) - Q2 revenue EUR 4.68bln vs prev. EUR 4.20bln. EBITDA EUR 781mln vs prev. EUR 735mln. EPS EUR 1.2 vs prev. EUR 1.17. (Newswires)  

St James' Place (STJ LN) - Q2 net inflows of GBP 5.5bln. (Newswires) 

Subsea 7 (SUBC NO) - Q2 revenue USD 1.2bln vs prev. USD 0.75bln. Co. affirms FY21 EBITDA guidance. (Newswires) 

Telefonica Deutschland (O2D GY) – H1 revenue +2.9% YY to EUR 3.74bln. Adj. OIBDA +8.2% YY to EUR 1.17bln. (Newswires)

Telecom Italia (TIT IM) - Q2 Adj, EBITDA EUR 1.6bln vs exp. EUR 1.66bln. Revenue EUR 3.82bln vs exp. EUR 3.75bln.  (Newswires) 

Traton (8TRA GY) - Unit sales +30% YY. H1 sales revenue on level with pre-pandemic levels. Incoming orders around 42% higher than in the same period in 2019. (Newswires) 

Vossloh (VOS GY) – H1 EBIT EUR 42.4mln vs prelim. EUR 42.2mln. Revenue EUR 462.6mln vs prelim. 462.6mln. (Newswires) 

FLUTTER ENTERTAINMENT (FLTR LN) UPGRADED TO BUY FROM REDUCE AT PEEL HUNT

RIO TINTO (RIO LN) MAINTAINED WITH OVERWEIGHT AT JPMORGAN

TRATON (8TRA GY) INITIATED WITH BUY AT BANKHAUS METZLER

28 Jul 2021 - 07:48- Research Sheet- Source: Newsquawk