Additional European Equity Stories

Ashmore (ASH LN) – Q3 Update (USD): AUM 78bln (prev. 87bln), due to net outflows of 3.7bln and negative investment performance of 5.0bln. Investment performance, in absolute terms, was positive in equities and alternatives, negative in fixed income themes. (Ashmore)

Boliden (BOL SS) - Signed a EUR 850mln RCF agreement. (Newswires) 

Hays (HAS LN) - Co. notes of a record quarter. Quarterly fees +32%, Perm+48% and Temp +21%, aided by continued margin growth. Co. reiterated guidance. (Newswires)

Hermes (RMS FP) Q1 (EUR): Revenue 2.77bln (exp. 2.41bln). Sales at constant FX 27.1% (exp. 15.4%). Co. raises prices. (Newswires)

Iberdrola (IBE SM) – Q1 electricity production -0.9%. (Newswires)

Publicis (PUB FP) - Q1 (EUR): Net 2.80bln (prev. 2.39bln). Co. notes of a solid liquidity position at the end of Q1 at EUR 5.0bln. Co. expects a very solid Q2. Co. confirms guidance. (Newswires)

National Grid (NG/ LN) - Co. expects FY underlying EPS to be modestly higher than the guidance provided on Nov 18th. Co. now expects the sale of Rhode island unit in Q1 this FY. (Newswires)

Nordex (NDX GY) - Co. has received an order for 29.5MW from Finland. (Newswires)

Novartis (NOVN SW) - Sandoz launches generic brimonidine tartrate/timolol maleate eyedrop in US for patients with ocular hypertension, expanding leading ophthalmic portfolio. (Sandoz)

Swiss Re (SREN SW) - Co. maintained a strong capital position throughout 2021. (Newswires) 

Tenarois (TEN IM) – Co is to suspend sales to and purchases from Russia. (Newswires)

TotalEnergies (TTE FP) – Co. and Eneos are to study sustainable aviation fuel production at the Eneos Negishi refinery. (Newswires)

Voestalpine (VOE AV) - Co. has sold its majority stake in Voestalpine Texas to ArcelorMittal (MT NA). Accounting profit from transaction is to be around EUR 280mln. (Newswires)

Wizz Air (WIZZ LN) – Expects a reported FY22 net loss of EUR 632-652mln, Q4 operating loss expected in the range of EUR 190-210mln. FY23 focus will be on maximising revenue and returning to pre-COVID production levels. (Newswires)

Adyen (ADYEN NA) initiated with Overweight at Piper Sandler

Nexans (NEX FP) downgraded to Neutral from Outperform at Oddo Securities

Repsol (REP SM) upgraded to Buy from Neutral at Goldman Sachs

Somfy (SO FP) downgraded to Neutral from Outperform at Oddo Securities

14 Apr 2022 - 07:33- EquitiesResearch Sheet- Source: Newsquawk