BAML
AVIVA - Raises pay-out ratio target to 55-60% of operating EPS by 2020 (514)+3%
AVIVA - Raises pay-out ratio target to 55-60% of operating EPS by 2020 (514)+3%
MARSTONS - Fine with FY revs 3% better although pretax 50bps lighter (107)+1-2%
BAE - Pension top up is not as big as expected, £15m v BAML £50m (552.2)..+1-2%
C.SUISSE - Has set itself a new reported RoTE target of 11-12% by 2020e (17)+1%
REPSOL - Board will consider doing a share buyback; Bloomberg reports (15.6)+1%
H&M - Chairman sees misconception on company digitization; DI (195.77)....+0.5%
OSRAM - Raised its divi proposal for FY17 to EUR1.11/shr from EUR1.1 (71).+0.5%
NOKIA - Has denied its in acquisition talks with Juniper Networks (4.21)....u/c
GRAINGER - NNAV up 5.6%, adj earnings +40%.Efficiencies coming through (286)u/c
GO AHEAD - Mgmt; Overall trading has been inline with expectations (1600)...u/c
NORSK - Aluminium: Alcoa -4.76% and Century Aluminum -11.25% will weigh (59)-1%
NN - Targets 5-7% op profit growth, div payout slightly below our ests (35).-2%
GREENE KING - First half challenging with eating frequency down 13% (523.8).-3%
LAMPRELL - Warning. Sees FY17 earnings materially below current ests (52.5)-25%
RBC
*AIRBUS: 0% LA TRIBUNE: CTO Eremenko said to leave AIR.
*AIRBUS: 0% LA TRIBUNE: CTO Eremenko said to leave AIR.
*ALTICE: -1% buyback suspended, as expected.
*AVIVA: +1% raises pay-out ratio target to 55-60% of OPER EPS by '20.
*BAE SYSTEMS: +1% completes revised UK pension funding pact.
*CREDIT SUISSE: +1% Q4'17 weak on CM, FY'18 targets largely affirmed.
*DAILY MAIL: -2% FY'17 revenue miss, numbers light.
*ELEKTA: +2% Q2'17 net sales beat.
*ENQUEST: +1% operational update solid, Kraken continues to improve.
*GENMAB: +2% gets $20M milestone from JANSSEN, FY'17 guidance boosted.
*GO-AHEAD: 0% trading update in line, regional bus revenues flat YoY.
*GRAINGER: +1% FY'17 profits +2%, dividend better, net rental income +8%.
*GREENE KING: +2% H1'17 numbers solid, cost cuts on track, better than expected.
*NOKIA: 0% denies in acquisition talks with JUNIPER NETWORKS.
*NN GROUP: +2% targets cost reduction of €350M by '20, dividend policy unchanged.
*OSRAM: +1% proposing higher dividend @ AGM.
*PAYPOINT: +1% H1'17 numbers solid, FY'17 outlook reiterated.
*REPSOL: 0% considering share buyback programme.
*TP ICAP: 0% announced acquisition of COEX PARTNERS, ahead of CMD.
*WIZZ: +1% secured all take-off and landing slots @ Luton from MONARCH.
MainFirst
*CS-Aims to pay 50% of Net in b/backs,divs,CET1 12-15%(>13%).........+1.5%
*CS-Aims to pay 50% of Net in b/backs,divs,CET1 12-15%(>13%).........+1.5%
*SIEMENS-Healthcare listing planned for H1 2018,worth €40bln.........+0.5%
*AIRBUS-CTO Paul Eremenko is said to leave company - La Tribune......U/C
*IBERDROLA-Weighs seeking regulator opinion on Gamesa-Expansion......U/C
*NOKIA-Says its not in talks or preparing an offer for Juniper.......+0.5%
*FUCHS-Buys lubricants bizz from Lubasyst, small deal, overall +ve.....+0.5%
*ELEKTA-Net Sales 2.8b(2.65),OP 365m(304.3),Ebita 509m(433)..........+3%
*NOVARTIS-Positive results from Strive study & +ve Cosentyx news.....+0.5%
*MAERSK-Transformation will take 3-5 yrs - CEO tells Borsen..........U/C
*HOCHTIEF-Leighton Asia JV wins construction deal in HK A$273m.......+0.5%
*SAP-Read across from Workday, stk -4% a/hrs, following Q3 no's........+0.5%
*MEYER BURGER-Sees strong order momentum ahead of today's Tech Day...+0.5%
*VW-Diess +ve on electrification plans & confirming cultural change..+0.5%
Macquarie
UK:
Macquarie
UK:
* AA- Homeserve buys it’s Home Emergency Operations Unit, no No’s. (Telegraph) +1%
* Aviva- Upgrading Cash Flow & Growth tgts, has £3bn of excess to deploy in 2018 &2019. +2%
* Jackpot Joy- Placing of 5.56m shs at 802p by MACQ, Call for further details.
* Lamprell – Another Profit warning. EBITDA materially below expectations due to incremental costs incurred on its East Anglia One offshore windfarm project. -10%
* Oils- OPEC meeting in Vienna today to discuss whether to extend cuts. Likely announcement 4pm UK time.
* Petrofac- Small positive read across from the SBM settlement of Unaoil legacy issue. +1%
* TCAP- Buys Coex Partners for £7.1m. Unch
EURO:
* Credit Suisse- Remains committed to 2018 tgt, upgrading ROTE tgt got 2019 to 10-11%. +1-2%
* Repsol- Considering Buyback in Feb 2018. +1%
* SBM Offshore- Agrees with DoJ to pay $238m for legacy issues. +1-2%
CS
Aviva +1% Investor day, raising its payout target range
BAE Systems +1% Reduced pensions deficit
Daily Mail -3% FY revs GBP1.56B est GBP1.67B
Euronext +1-2% Will acquire the Irish Stock Exchange (ISE) for €137m
Euronav M/P Sold the Suezmax Cap Georges for USD 9.3 million
Go Ahead +1% Full year expectations unchanged in bus and rail
Grainger M/P 3.8% lfl rental growth, stamp duty change should be helpful
Greene King +1-2% Consumers tightening belts, Pub Partners/Brewing ahead
Marstons +1-2% Revs £992m vs cons £959m, pretax inline
Meyer Burger R Statement out ahead of Technology Day
Miners -0.5% Copper +0.05%, Brent +0.40%, Iron Ore +1.55%, China -1.10%
Norsk Hydro -1% CMD inline, Aluminium names weaker in the US over night
Nokia M/P CNBC - Nokia reportedly is in talks to buy Juniper
NN Group -1% CMD - no change to profit growth targets
Paypoint M/P 1H18 Results In-Line. Progressing as Guided
Prudential -1-2% Asian Insurers weaker. AIA/China Pacific/Ping An -3-4.5%
Siemens M/P Confirmed plans to list Healthineers in Frankfurt in 1H18
TP Icap M/P Capital markets update inline