Additional European Equity Stories

CHR Hansen (CHR DC) - Q2 (EUR): Revenue 304mln (exp. 283mln), Organic Growth 14% (exp. 7.8%), Net Income 58.5mln (exp. 54mln). Adj. 2021/22 outlook amid the current geopolitical/inflationary situation, now expect organic growth 7-11% (prev. 5-8%), EBIT ex-items 26-27% (prev. 27-28%). (Newswires)

Diageo (DGE LN) - Launched and priced EUR and GBP bonds. (Newswires)

Generali (G IM) - Insurance watchdog has not discovered any evidence meriting the commencement of a probe into rebel investors. (Newswires)

Imperial Brands (IMB LN) - FY outlook is in-line with the 15th March revised guidance. NGP trials are making progress, will provide an update at interim results. H1 adj. group operating profit ahead YY. Negotiations are ongoing with a 3rd party re. an orderly transfer of Russian assets/operations. (Newswires)

Mapfre (MAP SM)/Santander (SAN SM) - European Commission has reportedly approved the Cos JV as a financial lending institute for reverse mortgages. (Expansion)

Mercedes-Benz Group (MBG GY) - CEO says they will be speeding up their climate change goals, aiming to build energy independence this decade. The ability to source 15/20% of energy would be a "big step". (Newswires)

Redrow (RDW LN) - Signing up to the Building Safety Pledge, will be remediating all buildings they were involved with for 30 years. Existing provision for fire safety in high rises is GBP 36mln, believe an additional GBP 164mln is required due to the pledge. (Newswires)

Saint Gobain (SGO LN) - Sold its Polish distribution unit, Tadmar. (Newswires)

Saipem (SPM IM) - Secured a new offshore drilling contract worth in excess of USD 400mln, work scheduled to commence in April 2022. (Newswires)

Ubisoft (UBI FP) - Announced that the ongoing development of "Tom Clancy's Ghost Recon Breakpoint" is ending. (Ubisoft)

ADP (ADP FP) downgraded to sell from neutral at Goldman Sachs

DNB (DNB NO) upgraded to Buy from Hold at Pareto

Fraport (FRA GY) upgraded to Buy from Neutral at Goldman Sachs

Vopak (VPK NA) downgraded to Underperform from Neutral at Oddo Securities

06 Apr 2022 - 07:10- EquitiesResearch Sheet- Source: Newsquawk