Additional European Equity News

A2A (A2 IM) - Chair said it is unlikely that Milan and Brescia will reduce their joint stake below 50%, via Il Sole 24. (Newswires)

Alstom (ALO FP) - Reportedly looking into the sales of activities with sources adding that two subsidiaries are being targeted namely the US and China, with an objective on ER 1bln. Article adds that a "capital increase appears inevitable". Regarding the US unit, Co. paid EUR 600mln for it with turnover of ciirca. EUR 350mln, a figure which now reportedly stands at EUR 200mln and as such a resale is not expected to see much more than EUR 500mln. (BFM)

Boliden (BOL SS) – Sees lower than expected Q4 copper output at the Aitik mine, for 2023 seen at just over 9mln/T vs the 11mln/T that can be expected in normal conditions. Seasonal and unfavourable weather conditions impact in November; production in affected mill line has stopped, expected to restart in December. Guidance for copper and gold content not affected by production disruptions. (Newswires)

Casino (CO FP) - Kretinsky has reportedly pushed the Co. to sell its largest stores, via FT citing sources. (FT)

Deliveroo (ROO LN) - Affirms FY23 outlook. On track to deliver adj. EBITDA margin of 4%+ by 2026. (Newswires) 

Hargreaves Lansdown (HL/ LN) - Appoints Alison Platt as Chair, effective 2024. (Newswires) 

Holcim (HOLN SW) - Enters three-year global strategic partnership with International Union for the Conservation of Nature. (Newswires) 

Harbour Energy (HBR LN) - 9M Trading Update: Production 189k boe/d (prev. 207k boe/d Y/Y). Reiterates guidance. (Newswires) 

Mapfre (MAP SM) - Solvency position remains within the tolerance range established by the Co. (Newswires)

Pennon Group (PNN LN) - Our underlying results for group for FY expected to be H2. Operating costs in H2'24 are anticipated to reduce with power costs falling. Looking beyond 24/25 expects overall revenue to increase.

Phillips (PHIA NA) - FDA has alerted about an emerging safety issue involving the DreamStation 2 CPAP machine for sleep apnea. (Newswires)

Telecom Italia (TIT IM) - Vivendi (VIV FP) is reportedly pressing ahead with plans to challenge the Cos decision to sell its fixed line grid to KKR, via Reuters citing sources. (Newswires)

TotalEnergies (TTE FP) - Acquires minority stake in Xlinks Morcoo-UK power plant. (Newswires) 

UK CMA, Groceries Sector (autumn update): Some branded suppliers have pushed up prices by more than their costs increased, but in most cases, shoppers can find cheaper alternatives. CMA to examine further whether ineffective competition in the baby formula market could be leading to parents paying higher prices. CMA to launch review of loyalty scheme pricing by supermarkets, considering its impact on consumers and competition in the groceries sector. (CMA)

Rockwool (ROCKB DC) initiated with Buy at Kepler Cheuvreux

Rockwool (ROCKB DC) initiated with Buy at DNB Markets

Rio Tinto (RIO LN) upgraded to Buy from Hold at Liberum Capital 

29 Nov 2023 - 07:05- EquitiesResearch Sheet- Source: Newsquawk