European Morning Research Summary

Barclays' morning summary provides updates on European equities, highlighting significant order misses at Elekta and potential M&A activity involving Commerzbank.

Key Takeaways

• 1.Elekta AB faces a 'significant order and revenue miss' for Q4, with management citing US reimbursement challenges and softer demand in China.
• 2.Commerzbank shareholders see favorable risk/reward driven by potential bid improvements from UniCredit (UCG) or strong standalone execution.
• 3.GSK's Hep B data (Bepi) shows a 19% cure rate, which Barclays considers approvable and in line with market expectations, though commercial uptake remains debated.

Table of Contents

• Summary of Changes
• Company Research
• Industry Research
• Publications Summary
• Consumer
• Financial Services
• Healthcare
• Industrials
• Internet & Media
• Power & Utilities
• Retail
• Technology
• Analyst(s) Certification(s)
• Important Disclosures

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