ML
LIBERBANK - Caixbank, Sabadell have both looked at Liberbank;Expansion (0.8)+5%
THYSSEN - Thyssen, Tata are said to agree on European steel venture (26)....+3%
UNICAJA - CaixaBank, Sabadell looking at Liberbank, Unicaja;Expansion (1.3).+3%
KINGFISHER - 1H French retail profit beats ests GBP174m v GBP173m (303.8).+2-3%
BABCOCK - Inline. Stock has been weak of late on accounting concerns (820)+2-3%
DOMINOS - Announce a shr buyback programme to repurchase £15m of shares(278)+1%
ELUX - AHAM6 +2.5% for August, could see some relief today but small (282)+0.5%
SHIRE - And Shionogi report positive topline results for Intuniv (3831.5)...u/c
NOVARTIS - Not material. Gets EC approval for Rydapt for 2 cancer indics(83)u/c
HEIDELBERG - Agrees to buy assets of Italy's Cementir for EV of €315m (83.3)u/c
SABADELL - Caixbank, Sabadell have looked at Liberbank; Expansion reports(2)-1%
MINERS - Copper +0.25%, Iron Ore fut unch with BHP OZ -0.57% & RIO OZ -1%...-1%
CAIXABANK - Caixbank,Sabadell have looked at Liberbank ;Expansion reports(4)-1%
AIRBUS - 'Getting tighter' to hit guidance; CEO confirms in Les Echos (73)..-1%
INDITEX - Net income 3% miss v cons & gross margins down 92bps in Q2 (32).-1-2%
DIAGEO - Reit FY guide; mid single digit top line growth & op margin(2459)-1-2%
CAIRN - Final hearing for Cairn India tax dispute now set for Aug '18 (177).-2%
MITIE - Mixed.Strategic progress being made but higher costs the issue (250)-3%
Macq UK Indications: * Atlantis Resources ARL- Interims all inline, Meygen Project on track. Unch
* Babcock BAB- Trading inline with prior forecasts, FY Outlook unchanged. +1%
* Cairn CNE- Final hearing for Indian tax dispute to be August 2018. Unch
* Diageo DGE- No change to FY18 Guidance but FY18 growth will be H2 weighted & H1 margins weaker due to higher marketing investment. -1%
* Housebuilders- U.K. house prices fell for a fifth month in August according to Acadata. -0.5%
* Kingfisher KGF- UK, Ireland & France No’s inline, comfortable with FY Profit Views, although remain cautious on H2 backdrop in the UK & France. +0.5%
* Mitie MTO- Strategic Restructuring progress on track, expects group Rev’s to be better than expected 4% ahead of prior year. +1-2%
* Ryanair RYA- Pilots reject Bonus Offer (Irish Independent). -0.5%
* Babcock BAB- Trading inline with prior forecasts, FY Outlook unchanged. +1%
* Cairn CNE- Final hearing for Indian tax dispute to be August 2018. Unch
* Diageo DGE- No change to FY18 Guidance but FY18 growth will be H2 weighted & H1 margins weaker due to higher marketing investment. -1%
* Housebuilders- U.K. house prices fell for a fifth month in August according to Acadata. -0.5%
* Kingfisher KGF- UK, Ireland & France No’s inline, comfortable with FY Profit Views, although remain cautious on H2 backdrop in the UK & France. +0.5%
* Mitie MTO- Strategic Restructuring progress on track, expects group Rev’s to be better than expected 4% ahead of prior year. +1-2%
* Ryanair RYA- Pilots reject Bonus Offer (Irish Independent). -0.5%
Exane Indications
Airbus -1%
Alten -2-3%
Babcock +2%
Buzzi +2%
Deutsche Telekom +1%
Diageo -1%
GSK +0.5%
Heidelberg +2%
Inditex -2-3%
Kingfisher +2-3%
Luxottica -1%
Novartis u/c
Shire u/c
Soitec +3%
thyssenkrupp +3-4%
CS
Airbus -1% Negative comments from Commercial Aircraft CEO on delivery
Babcock M/P Trading update inline with market expectations
Diageo -1-2% Negative margin improvement & sales growth comments
Electrolux M/P AHAM data - US shipments of home appliances fell -0.3% y/y
Inditex -1-2% Slightly light H1 EBIT EU 1.74bln est EU 1.78bln.
IWG M/P CMD - Focus on business strategy and operations
Kingfisher +2% PBT ahead, comfortable with FY profits
Miners +0.5% Copper +0.30%, Brent -0.10%, Iron Ore +0.40%, China +0.33%
Novartis M/P Rydapt receives European Commissions approval
Suez -1% CS DOWNGRADE to UNDERPERFORM (Margins + tax rate)
Thyssen +3-5% Memorandom of understanding signed with Tata
Investec UK & Euro Pre Mkt Indications
UK
* BABCOCK-Update.Reassuringly in line. Reit's FY guidance(-15% ytd).........+2%
* BTG-Ordered to pay $55.8m(+fees) to Wellstat.May appeal ruling............-2%
* CAIRN-Update on Indian Tax. Nothing material.............................unch
* CAMBIAN-H1.Trading in line, reinstated dividend (expected)...............unch
* DIAGEO-Update ahead of AGM. Maintains overall performance for FY..........-1%
* DOMINO PIZZA-Starts share buy back today (upto £15m shares)..............unch
* IGAS-H1.Production & cash guidance lowered................................-5%
* IWG-Hosting CMD today (CEO,CFO & COO attending)..........................unch
* KINGFISHER-H1.#'s I/L.Remains comfortable with FY,despite cautious o/look.+2%
* MITIE-PreClose.Rev better but ddebt up and lost top 20 contract...........-3%
Euro
* AIRBUS-getting tighter to hit A320neo target says CEO (Echos).............-1%
* CAP GEM-plans additional €400m buyback....................................+1%
* D POST-FedEx cut f/casts on cyber-attack, u/lying performance ok..........-1%
* FORTUM-halts Finnish nuclear reactor after failure........................-2%
* HEIDELBERG CEMENT-buys Italy assets of Cemtir, EV €315m...................+1%
* INDITEX-H1 rev in line, profit small miss on lower gross margin...........-2%
* KEUHNE & NAGEL-Cap Mkts Day-CEO speaking at 9:30
* MEDIOBANCA-may put GENERALI holding in new unit,sell minority stake(Sole).+1%
* SAP-Adobe fell 3.6% on slowing cloud rev gth..............................-1%
* THYSSEN-finally signs deal with Tata on European steel jv.................+5%
* NB We have HEINEKEN in presenting to sales today at midday.
UK
* BABCOCK-Update.Reassuringly in line. Reit's FY guidance(-15% ytd).........+2%
* BTG-Ordered to pay $55.8m(+fees) to Wellstat.May appeal ruling............-2%
* CAIRN-Update on Indian Tax. Nothing material.............................unch
* CAMBIAN-H1.Trading in line, reinstated dividend (expected)...............unch
* DIAGEO-Update ahead of AGM. Maintains overall performance for FY..........-1%
* DOMINO PIZZA-Starts share buy back today (upto £15m shares)..............unch
* IGAS-H1.Production & cash guidance lowered................................-5%
* IWG-Hosting CMD today (CEO,CFO & COO attending)..........................unch
* KINGFISHER-H1.#'s I/L.Remains comfortable with FY,despite cautious o/look.+2%
* MITIE-PreClose.Rev better but ddebt up and lost top 20 contract...........-3%
Euro
* AIRBUS-getting tighter to hit A320neo target says CEO (Echos).............-1%
* CAP GEM-plans additional €400m buyback....................................+1%
* D POST-FedEx cut f/casts on cyber-attack, u/lying performance ok..........-1%
* FORTUM-halts Finnish nuclear reactor after failure........................-2%
* HEIDELBERG CEMENT-buys Italy assets of Cemtir, EV €315m...................+1%
* INDITEX-H1 rev in line, profit small miss on lower gross margin...........-2%
* KEUHNE & NAGEL-Cap Mkts Day-CEO speaking at 9:30
* MEDIOBANCA-may put GENERALI holding in new unit,sell minority stake(Sole).+1%
* SAP-Adobe fell 3.6% on slowing cloud rev gth..............................-1%
* THYSSEN-finally signs deal with Tata on European steel jv.................+5%
* NB We have HEINEKEN in presenting to sales today at midday.