MainFirst Pre Mkt Indications
*SWISS RE-FY NI 331m(287),Gross Written Prem 34.78b,ROE +1%..........+1.5% *AIR FRANCE-Trading +ve trends,Labour no guidance,Costs ok...........+0.5% *ADP-FY Rev 3.62b(3.5),Ebitda 1.57b(1.53),NI 571m(499),o/l ok........+1% *SIKA-FY OP 896.3m(892.7),NI 649m(645),Sales 6.25b(6.19),Div 111.....U/C *ST GOBAIN-Sales 40.81b(40.59),Op Inc 3.03b(3.02),Ebitda 4.23b.......+1% *R/KLIN-FY Ebitda 98m(100),Rev 1.21b(1.21),c/cutting working.........+0.5% *TIT/CANAL PLUS-Content accord may fall through says Sole............-0.5% *H&M-Opens three outlet stores in Sweden to sell excess stock........-0.5% *VALEO-FY Sales 18.6b(18.71),Net Inc 1b(1),OP Margin i/l with 17.....-3% *XING-FY Sales 184.9m(184.5),Ebitda 58.4m(58.5),No o/l,Div 1.68......-0.5% *SES-FY Net 596m(462),Proposes Div of 80c,Sees Ebitda margin 64%.....-2% *IAG-FY Rev 20.2b(22.97),OP 3.02b(3.05),Exps improved OP for 2019....-1%
RBC
*ADP: -1% FY'17 numbers in line, '18 passenger guidance light.
*EDF: -1% Reuters reporting some weldings @ Flamanville substandard.
*IAG: -1% Q4'17 revenues light, operating profit 1% miss.
*RBS: -2% FY'17 numbers touch light, rate of cost cutting reduced materially.
*RIGHTMOVE: +1% FY'17 revenue in line, outlook remains positive.
*STANDARD LIFE: +2% to sell insurance unit to PHOENIX for £3.24B.
*SWISS RE: +1% FY'17 earnings solid, dividend ahead, positive on capital.
*TAKEAWAY: 0% acquires BGmenu in Bulgaria, Oliviera in Romania.
*WILLIAM HILL: 0% FY'17 revenues in line, to pay £6.2M in settlement.
CS
ADP R FY revs EU3.62B est EU3.50B
Aviva +1% Announces sale of life insurance/pensions joint ventures
IAG +1% EBIT €3015m vs cons €3046m, Q4 pricing better
Inficon -1% US peer UNIVERSAL DISPLAY -14% on soft growth guidance
Lancashire +2% CS UPGRADE to NEUTRAL (Valuation)
Miners M/P Copper UNCH, Brent +0.10%, Iron Ore -1.10%, China +0.25%
Pearson +1-2% Fy Operating profit GBP 576mln est GBP 562.9m, EPS ahead
Phoenix +2% SLA to sell insurance business to Phoenix for £3.24bn
Rightmove M/P FY Op profit 184.4mln cons 183.6mln
RBS -1-2% 3% underling miss, restructuring charge increased
Shire +4-5% FDA accepts BLA and grants priority review for Lanadelumab
Sika M/P Numbers inline with pre-announce
St Gobain M/P FY sales 40.81bln vs cons 40.59bln, Op income/EBITDA inline
Stan Life +3-4% SLA to sell insurance business to Phoenix for £3.24bn
Swiss Re R 2017 net income $331m, est. $287m
Tenaris +1-2% CS UPGRADE to OUTPERFORM (Balance sheet/oil price)
Valeo -4-5% FY numbers inline, guidance disappointing
VAT -1% US peer UNIVERSAL DISPLAY -14% on soft growth guidance
Will Hill M/P Numbers inline with pre-announce