CS
Air France +1% Load factor +1.3ppt to 90.2%, comments on pricing helpful
Autos +0.5% China July sales up +5.5% y/y according to PCA
Alstria +1% FFO and EAT ahead of cons, raised FY17 sales target
Asos M/P Agreement to open new US fulfilment centre
Bellway +1-2% Vols better, op margin guidance inline, outlook confident
Bpost M/P 2Q revs 5% light, domestic mail volume -6.7%
CNH Ind +0.5% Deere sees Brazil ag machine sales rising more than +10%
Deut Post +1% Q2 EBIT €841m vs CS ests €828m, confirm FY forecast
Dong +2% Disposal at better price than expected. Raised guidance
Europcar -2% US peer Avis -10% on missed earnings and guidance
Euronext +1% EURONEXT to Renew Agreement for Derivs Clearing with LCH
Jungheinrich +1% Q2 Sales EU843m vs cons EU833m, Raises Forecast
Galenica +2% H1 Sales 1% ahead, EBIT 12% ahead, confirms FY outlook
IHG M/P EBIT $365m vs CS ests $366m, RevPAR growth better
IWG -2-3% Group revenue inline, gross profit margin disappointing
LSE +1% EURONEXT to Renew Agreement for Derivs Clearing with LCH
Miners -2-3% Copper -0.15%, Brent +1.10%, Iron Ore -2.10%, China UNCH
Nokian Tyres +5% Blowout Q2 figs with 5% rev beat and 9% op profit beat
Oerlikon M/P EBITDA 3.5% ahead, order intake better, confirms FY
Paddy Power -1% Australia stakes growth weaker, gaming revenue worse
Pandora -3-5% 2Q revenue DKK4.83b, est. DKK4.91b, Keeps FY outlook
Pets at Home +1% Q1 revs £256.5m, FY rev cons £872m, keep FY guidance
Rotork -3% Orders better, op prof a 5.6% miss, margins lower
Sixt -2% US peer Avis -10% on missed earnings and guidance
Stan Life R AUM GBP361.9B, op profit GBP362M
Ublox M/P Bosch/Geo++/Mitsubishi Elec/ublox announce joint venture
UK Staffers +1-2% UK Job market continues to confound expectations"
Uniper +3% H1 adj EBIT looks 10% ahead of cons, divi better
Vifor +2% EBITDA 22% ahead, FY guidance raised
Worldpay R Positive talks are continuing with Vantiv
RBC PRE-MKT INDICATIONS
*AEGON: +1% announces disposal of UNIROBE for €295M.
*AIR FRANCE: +1% July traffic data solid, demand +4.6%, load factor 89.9%.
*ASOS: +1% signed an agreement to open a new warehouse in US.
*BELLWAY: +1% trading update in line, cash ahead, FY outlook confirmed.
*BPOST: -1% Q2 EBITDA light, transactional mail volumes -11%.
*CLINIGEN: +3% awarded EC approval for Caridoxane drug. *DEUTSCHE POST: +2% Q2 3% EBIT beat, mail volumes better, organic growth ahead. *DONG ENERGY: +3% form 50/50 partnership with GIP to build offshore wind farm.
*EURONEXT: 0% renews derivatives pact with LCH, ends ICE deal. *FIRESTONE DIA.: -5% optimise mine plan at Liqhobong, production guidance downgrade.
*FORBO: -2% placing 63,000 shares @ 1450.
*IHG: -2% H1 revenue light, interim dividend ahead & confident of FY outlook.
*IWG: 0% Q1 numbers in line, anticipates strong cash generation in H2. *MEREO BIO: +1% interim results in line, cash a touch better. *NOKIAN TYRES: +5% Q2 profit beat, improving Russian demand, FY profit forecasts lifted.
*OERLIKON: +2% Q2 order in take better, FY guidance confirmed.
*PANDORA: -5% Q2 revenues light, EBITDA 7% miss, FY guidance maintained.
*PETS: +2% Q1 LFL sales +2.7%, FY outlook in with forecasts.
*RATIONAL: -3% H1 sales in line, raising sales rev growth goal.
*ROTORK: 0% H1 revenues in line, FY forecasts remain unchanged.
*SCHAEFFLER: 0% Q2 numbers in line, FY forecasts confirmed. *STANDARD LIFE: +1% H1 op profit 3% ahead, beat driven by India, numbers in line. *TP ICAP: +1% H1 revenues £925M, cost improvement plan launched.
*UNIPER: +3% H1 results strong, EBIT guidance top end, dividend increase. *VIFOR PHARMA: +2% H1 sales miss but increasing FY guidance.
Shore
INTERCONTINENTAL-H1 op pft $370m(Est$362.5m).Confident in 2017 outlook......-1%
BELLWAY-Fy completions+11%.Order book+16%.Fy op margin rising to 22%........+2%
PETS AT HOME-Q1 lfl sales+2.7%.Outlook for year in line with forecasts......+1%
MORGAN SINDALL-H1 revs 1.31b.H1 ptp 23.7m.Interim divi 16p +23%.............+1%
STAND LIFE-H1 op pft 362m.Divi 7p.AUM 361.9m.H1 net outflows 3.7b...........-1%
POLYPIPE-Hi op pft 38.9.Sees Fy in line with forecasts.....................UNCH
SIG-H1 revs 1.38b.Adj ptp 38.3m.Divi 1.25p.Views unchanged for fy...........+1%
ROTORK-Expects H2 margins to be ahead of H1.Fy views remain unchanged.......+1%
PADDY POWER-H1 ebitda 220m.Divi 65p.Sees Fy ebitda between 445 and 465m.....-1%
PAYSAFE-H1 rev $538.7m and Eitda of $169.2m no guidance as bid situation ..UNCH
TP ICAP-Revs in line margin 9.3% sees extra Brexit costs ...................-1%
WORLDPAY/VANITY takeover date 11 Aug can be extended if offer made.........UNCH
Exane Indications
Air France +2%
Buzzi Unicem -0.5%
Deutsche Post +2%
Dong Energy +2%
IHG -2%
Nokian Renkaat +4-5%
Pandora -4%
Paysafe +1%
Rotork -1-2%
Schaeffler u/c
Standard Life -1%
Telecom Italia -1%
Uniper +2%
Vivendi +1%
Worldpay u/c
MainFirst Pre Mkt Indications
*BPOST-Rev 699.6m(737.8),Ebitda 159.3m(159.5),Net 99.7m(90.8)......-2%
*OERLIKON-Q2 Sales 689m(665.8),Ebitda 92m(87),short int 5.2%.......+2.5%
*DEUT POST-Q2 NI 602m(595),Rev 14.81b(15.09),Ebit 841m(827)........+0.5%
*NOKIAN-OP 94.1m(86.5),Sales 393m(376),Sees FY Sales/OP +10%(5%)...+3%
*SIEMENS-Mulls addl job cuts in Power Plant Unit-Handelsblatt......U/C
*GECINA-Gets French Antitrust approval for t/o with Eurosic........U/C
*PANDORA-Q2 Rev 4.83b(4.91),NI 1.1b(1.23),FY Rev DK23-24b(23.09)...-5%
*PORSCHE-Mulls not offering next Cayenne in diesel says FAZ........+0.5%
*VIFOR-H1 Sales 626m(647),Ebit 62m(52),Raises FY o/lk,SI 16%.......+1.75%
*GALENICA-H1 Sales 1.59b(1.57),Ebit 72m(69),NP 58m(52),Reits FY....+1%
*SWISSQUOTE-H1 Rev 91m(81.8),NP 18m(11.4),NNM 1.5b,upbeat on H2....+2%
*ALSTRIA OFFICE-Q2 Rev 47.9m(48),FFO U 28.7m,Raises o/l inline.....-1.5%
*HAMBORNER REIT-Q2 Rental Inc 21.1m(18.3),guidance inline..........+0.5%
*JUNGHEINRICH-Q2 Sales 843m(832),Ebit 67.3m(66),Net 45.9m(44)......+1%
*RATIONAL-Rev 165.4m(164),Ebit 39.7m(47),guidance already raised...-3%
*UNIPER-Ebit 930m(956),NI 967m(849),FY Ebit 1-1.2b(1.15),Div up....+2%
*SANOFI-Aims to get next approved PD-1 for first line lung cancer..+0.5%