Additional European Equity News

3i (III LN) - Shadowfall Capital and Research reportedly has a multi-million GBP short position against the Co, suggesting Co’s Action unit is overvalued, according to CityAM. (CityAM)

Aston Martin (AML LN) - Update FY guidance, profit warning: FY adj. EBITDA now exp. to be slightly below FY23; No long expecting to achieve positive FCF in H2'24. FY24 Wholesale volumes now expected to decline by high single digit percentage vs FY23; cites supply chain disruptions and weakness in China. (Newswires) 

Azimut (AMZ LN) - Co. announced a strategic growth partnership with Oaktree; Oaktree to invest AUD 240mln in AZ NGA. (Newswires) 

Entain (ENT LN) - Stella David succeeds Barry Gibson as Chair of Entain board. (Newswires) 

French stocks - PM Barnier said is considering a temporary increase in corporate tax for the country's biggest companies, via Le Monde. (Le Monde)

Renault (RNO FP)/Stellantis (STLAM IM STLAP FP) - Rumours of a merger between Renault and Stellantis are returning, whilst there are also talks of a three-way pact with BMW (BMW GY); a joint meeting set for October 15th, according to Italian press. (Il Sole)

Rightmove (RMV LN) - Issued a statement in the rejection of REA's (REA AT) offer; board unanimously rejects latest proposal. Says latest proposal remains unattractive and continues to materially undervalue the Co. (Newswires) 

Vodafone (VOD LN) - Updates on Vodafone / Three merger; says Vodafone shareholder approval no longer required. (Newswires) 

Weir (WIER LN) - Awarded GBP 25mln contract in Morocco. (Newswires)

UBS (UBSG SW) - UBS exec is seeking the recovery of billions of dollars lent by Greensill, following its implosion, according to the FT citing sources. (FT) 

General Motors (GM) - Cautious mention in Barron's; the newspaper said Wall Street is becoming increasingly worried about GM's future; as global automakers prepare to report September sales on October 1st, concerns are rising that GM's stock may soon stagnate alongside its competitors.

Hella (HLE GY) downgraded to Reduce from Hold at HSBC

Nexi (NEXI IM) downgraded to Underweight from Equal Weight at Barclays

Smiths (SMIN LN) downgraded to Equal Weight from Overweight at Barclays 

30 Sep 2024 - 07:30- EquitiesResearch Sheet- Source: Newsquawk