Additional European Equity News

AstraZeneca (AZN LN) - AstraZeneca and Daiichi Sankyo's Enhertu (trastuzumab deruxtecan) has been recommended for approval in the European Union (EU) as a monotherapy for the treatment of adult patients with unresectable or metastatic HER2-positive (immunohistochemistry [IHC] 3+) solid tumours who have received prior treatment and who have no satisfactory treatment options. (AstraZeneca) Ferrari (RACE IM) - Co. unveils Ferrari Luce, its first fully electric car, priced at EUR 550,000 including taxes. (Ferrari) Shares -5% in pre-market tradeKingfisher (KGF LN) - Q1 Trading Update (GBP): Revenue 3.30bln (exp. 3.30bln, +1.4% Y/Y), affirms Y 2026/27 guidance, sees adj. PBT between 565-625mln and FCF between 450-510mln. Confirms GBP 300mln share buyback ongoing. (Kingfisher)Nordex Group (NDX1 GY) - Co. gains new 110MW order from Eksim Enerji in Turkiye. (Nordex) Relx (REL LN) - Co. initiates GBP 150mln share buyback programme. (Relx)Ryanair (RYA ID) - Co. announces that it had repaid its only outstanding bond, leaving it effectively debt-free for the first time since the Co. was listed in 1997. (Ryanair)Saint Gobain (SGO FP) - Co. signed an agreement with Ecco Group for the sale of its Tiles Distribution business in the Nordics; no terms disclosed. (Saint Gobain)Serco (SRP LN) - Serco secures GBP 270mln contract from Norfolk and Norwich University Hospital. (Serco)   Gerresheimer (GXI GY) downgraded to Hold from Buy at JefferiesQinetiq (QQ/ LN) upgraded to Buy from Hold at Peel HuntPershing Square (PSH LN) initiated with a Hold at JefferiesRichemont (CFR SW) upgraded to Buy from Neutral at ESNTaylor Wimpey (TW/ LN) downgraded to Sell from Neutral at Goldman Sachs