BofAML EMEA Indications:
OSRAM - Beat. Sales 2% ahead of cons, EBITDA 22% ahead. FY guide reit'd (31)+3%
WIRECARD - Raises forecast, exp EUR760-810m range v prev EUR740-800m (137)+2-3%
TRAVIS PERKINS - Strong start to the year with 7.3% LFL sales growth (1432).+2%
LUNDBECK - 4% rev beat, 2% EBIT beat and 5% EPS beat.Upgraded rev guide(296)+2%
COMMERZBANK - Revs beat street by 1%, NII by 4%, operating profit 12% (7.9).+2%
SIEMENS - Beat. Seeing earnings upgrades again & transformation afoot(106.7)+2%
INFORMA - Resume coverage with a BUY rating and add to EUROPE 1 list (767.6)+1%
ORANGE - Small deal in cybersecurity. Buying SecureLink on a €515m EV (14.1)+1%
MORPHOSYS - Nos inline/touch ahead, guide reit'd, drug commentary ok (91.4).+1%
SCHAEFFLER - Beat on an aggressively managed down cons. EBIT 2% ahead (7.4).+1%
IMPERIAL BRANDS - Mixed.Vols worse -6.9% v -5.8% but op profit 1% beat(2350)+1%
POSTE IT - Small beat with EBIT 2% & net profit 5% ahead of cons ests (9.51)+1%
W.KLUWER - Solid with +4% org sales growth, inline with FY18 exit rate(61)+0.5%
MINERS - Copper +0.5%, Iron Ore fut unch w/ BHP OZ -0.54% and RIO OZ -0.09%.u/c
AHOLD - Sales slightly below, 1% miss with LFL at -2.3% v cons flat (21.22).u/c
NORMA - Inline with prelim nos. Guide confirmed to be at the lower end(40.9)u/c
OUTOKUMPU - Sells real estate in Germany for EUR90mn. To complete in Q3 (3).u/c
TELEFONICA - Announces the sale of 11 data centers for EU550m, inline (7.22)u/c
SAINSBURY - BAML DOWNGRADE to NEUTRAL, resetting our price obj to 235p (212)-1%
D.LINE - GWP 2% below BAML forecast due to Commercial. Targets reit'd (3174)-1%
T.ITALIA -Brazil slightly weaker on revs w/ service rev growth 2% light(0.5)-1%
ITV - Rev touch ahead, ad guidance inline, leaving a lot to do in H2 (130)-1-2%
STOREBRAND - PTP missed v exp due to lower insurance.Solvency inline (71).-1-2%
SHI - Puts in a 15% decline in LFLs in UK but offset by decent margin(141)-1-2%
MUNICH RE - Net profit inline, op profit EUR875m v EUR993m consensus (206.3)-2%
APERAM - Q1 EBITDA EUR81mn, -43% YoY, -6% v BAML est, -8% v consensus (25.1)-2%
VESTAS - Revs inline, EBIT miss, orders ahead and guidance reiterated(570.5)-3%
FERROVIAL - Surprise 345m provision for USA contstruction projects (20.9).-3-4%