Additional European Equity News

Commerzbank (CBK GY), UniCredit (UCG IM) - Commerzbank has been in contact with German regulator BaFin about UniCredit's recent disclosures about the take-up of its tender offer, according to Reuters sources. (Reuters)

Lloyds (LLOY LN) - Co. affirms its 2026 NII beyond GBP 14.9bln, reflecting a Q1 upgrade from higher rates. Q2-to-date lending growth is expected to continue and expects quarterly sequential NIM increases to continue through 2026. (Newswires)

Mitie Group (MTO LN) - FY 2025/26 (GBP): Revenue 5.62bln (exp. 5.65bln, prev. 5.08bln Y/Y), Operating Profit before Other Items 264mln (prev. 234mln Y/Y), Total Order Book 16.3bln (prev. 15.4bln Y/Y), launches new GBP 60mln share buyback programme. Confident in delivering FY25-27 strategic plan. (Mitie Group)

Peab (PEABB SS) - Co. has been awarded a SEK 252mln contract to build a new wastewater treatment plant in Vemdalen. (Peab)

Pirelli (PIRC IM) - Grizzly outlines that they believe the Co's secret dependence and close relationship to Russia is a threat to national security, (Grizzly)

Sweco (SWECB SS) - Co. has been awarded a SEK 440mln contract from the Swedish Transport Administration for a new railway. (Sweco)

UMG (UMG NA)/Pershing Square (PSH LN) - Pershing Square looking to offload 4.7% stake in UMG, looking to sell 80.6mln shares in a range of EUR17.66-18.62/shr. (Bloomberg) UMG called to open lower in excess of 6%. 

Autotrader (AUTO LN) initiated with Buy at Goldman Sachs

Smith & Nephew (SN/ LN) downgraded to Hold from Buy at Kepler Cheuvreux