BofAML EMEA Indications:
VONOVIA - V good update. Sees FY FFO per shr EU2.26, 5% ahead of cons (46.1)+3%
AXEL SPRINGER - EBITDA 2% ahead but Jobs & Real Estate org growth weak (51).+3%
DSM - Solid. EBITDA 412 v 397 cons. Raise guidance for full year ests (101).+2%
SIEMENS GAM - Q2 rev beat cons by 4%, EBIT by 11%. Margins 60bps ahead(15.8)+2%
ARKEMA - Beat by 1.4% on EBITDA driven by margins (17bps ahead) v con (88)+1-2%
INBEV - Mixed. Beat on org top line/EBITDA but EPS miss. FY guide unch (79).+1%
INFINEON - 2Q revs +1.1% ahead of co cons. EPS 24c v 22c. FY guide u/c(20.6)+1%
AIRBUS - +ve. IndiGo in talks for a "large" order according to press (120.9)+1%
ALSTOM - Mixed but orders strong and cash return looks inline with cons(39).+1%
SIEMENS - Added to EUROPE 1 (BAML best ideas) list into CMD on Wed (105.65).+1%
EVONIK - EBITDA 539 V 532 cons. Outlook for sales/ebitda to be stable (26)+0.5%
T.ITALIA - New CFO, Giovanni Ronca,prev coHead of UCG commercial bank(0.5)+0.5%
MINERS - Iron ore squeeze offsets trade unrest. OZ parities are unchanged...u/c
RPC - China approvals received for deal. We await Russia & Mexico now (790).u/c
ESSILORLUX - Revs +3.7% cFX. Q1 at bottom end of FY guide. FY reit'd (107.3)u/c
BT - Note considering press discussion over divi cut at the weekend (224.2).-1%
BMW - PBT €762m v €1.8b but driven by €1.4b provision. Sales inline (73.3)..-1%
ALSTRIA OFFICE - FFO/share EUR0.16 v cons EUR0.167. Leasing mkt strong(13.8)-1%
HENKEL - Weak. Q1 OSG +0.7% v +1.8% cons driven by beauty. Reit FY guide(89)-2%
PANDORA - Messy. Sales 1% below, total LfL sales growth -10% v -12% (262).-2-3%
SOLVAY - Miss. Lower FY guide, Q1 is EBITDA 571 v 567 cons. FCF v weak (100)-3%
G4S - Garda World, no intention to make an offer. Screens as v crowded (199)-8%