(Photo credits: Adobe Stock – )
PARIS, April 13 (Reuters) – The stocks to follow on Wednesday on the Paris stock exchange and in Europe:
* LVMH LVMH.PA reported quarterly sales of EUR 18 billion on Tuesday evening, an organic growth of 23% compared to the same period last year, thanks in part to a 30% increase in turnover of the Fashion & Leather Goods division. The world’s number one luxury brand says it is both “vigilant and confident” in light of the geopolitical context and a still “disturbed” health situation. nL5N2WA4SC
* RENAULT RENA.PA – The project to split the car group’s electrical activities aims to give them better visibility and could be accompanied by a separate mention, CEO Luca de Meo said on Tuesday. nL5N2WA4V9
* STELLANTIS STLA.PA STLA.MI announced on Wednesday its intention to combine its financial services activities in China into an auto finance company in which it would be the sole shareholder.
* EDF EDF.PA – The Ministry of Economy and the Elysée are considering nationalization again, followed by a sale of renewable energy activities to refocus the group on nuclear energy and dams, BFM Business reported Wednesday citing several sources in near the public authorities.
* TELECOM ITALIA TLIT.MI – Iliad, the group founded by Xavier Niel, owner of Free, is interested in Telecom Italia’s consumer services business in Italy, several daily newspapers reported Wednesday. Iliad and TIM were not immediately available for comment on the information.
* TESCO TSCO.L warned on Wednesday that its current fiscal year profit could fall due to the worsening economic situation and the impact of inflation on household purchasing power, after a 35.8% increase in its adjusted operating profit about 2021-2022.
* ATLANTIA ATL.MI – The Benetton family and US private equity group Blackstone BX.N are working on an offer to buy Atlantia at a premium of approximately 30% to the average price of the past six months and would make their proposals during the Today we learned from three sources familiar with the matter.
* GLAXOSMITHKLINE GSK.L has announced that it has completed the acquisition of US laboratory Sierra Oncology SRRA.O based on a valuation of USD 1.9 billion (EUR 1.75 billion).
* CREDIT SUISSE CSGN.S – The investment advisory firm ISS has recommended that the bank’s shareholders vote against executive discharge for fiscal year 2020 management, as Glass Lewis had done before.
* BARRY CALLEBAUT BARN.S – The Swiss chocolate giant confirmed its medium-term forecasts on Wednesday as it released higher half-year results.
