Additional European Equity News

BP (BP/ LN) - Q3 (USD): EPS 0.19 (exp. 0.24), Net Income 4.858bln (prev. 4.059 YY) Capex -3.6bln, Adj. Net Profit 3.29bln (exp. 4.05bln), Operating cash flow 8.75bln (exp. 8.49bln); Announces further USD 1.5bln share buyback. (Newswires)

Carlsberg (CARLB DC) – Q3 (DKK): Revenue 20.3bln (exp. 20.4bln), Beer Sales Volume 29mln/HL (exp. 35.7mln/HL). Maintain earnings guidance for the FY despite out recent decision to further increase commercial investments in the remainder of the year to support growth priorities. Weak macro environment in SE Asia is likely to continue to impact the beer market negatively. New quarterly share buyback programme launches today, amounting to DKK 1bln. (Newswires)

Coca Cola (CCH LN) - Q3: Revenue +15.3%, Net Sales revenue/case +12.9%. Reiterates FY guidance. Well placed for mid-term targets. (Newswires)

Deliveroo (ROO LN) - Purchase of 192mln ordinary shares to complete today at a strike price of GBP 1.30, total cost of 250mln. (Newswires)

Prysmian (PRY IM) - Signed a deal worth EUR 900mln for Clean Path energy project in New York. (Newswires)

Renault (RNO FP) - Co. and CICC to set up investment fund in China to focus on new energy industry, via Cailianshe. (Newswires)

Stellantis (STLAM IM/STALP FP) – Q3 (EUR): Revenue 45.1bln (exp. 43.7bln), Consolidated Shipments +7% Y/Y, reflecting improved volume and consistent pricing and partially offset by FX market. Saw net revenue hit of circa. 3bln from work stoppages through October compared to planned production. Expects to complete announced EUR 1.5bln buyback during Q4. (Newswires)

Spectris (SXS LN) - Q3 Trading Update: LFL Sales +11%. (Newswires) 

Siemens (SIE GY) – Co. and Microsoft to work together on AI project to raise productive for customers. (Newswires)

Telecom Italia (TIT IM) - Consob is monitoring bids for the landline grid, via Il Sole 24 Ore. (Newswires)

Uniper (UN01 GY) – 9-month (EUR): Recorded circa. EUR 2bln of cumulative PBT on gas replacement procurement, Net Income 9.8bln. CFO: Results and outlook are “literally extraordinary”, do not expect to see earnings figures of this magnitude in the next few years. (Newswires)

Unilever (ULVR LN) - Resolution 2 re. remuneration report did not pass AGM. As such, board has decided to freeze CEO pay for the next two years. (Newswires)

Vodafone (VOD LN) - Zegona to purchase Vodafone Spain for EUR 5bln. (Newswires)

Amplifon (AMP IM) reiterated with Overweight at Barclays 

Elisa (ELISA FH) reiterated with Equal Weight at Morgan Stanley 

Getinge (GETIB SS) reiterated with Equal Weight at Morgan Stanley 

Pearson (PSON LN) reiterated with Equal Weight at Barclays 

Moncler (MONC IM) reiterated with Overweight at Barclays 

31 Oct 2023 - 07:25- EquitiesResearch Sheet- Source: Newsquawk