CS
Alfa Laval +3-5% Q4 net sales 5.5% beat, orders 6% beat
Autos -0.5% Weaker in Asia - MITSUBISHI -4.1%, MAZDA -3.8%, HONDA -2.8%
Britvic +1-2% Group revenue 4.3% ahead of last year
Com Hem -1% 4Q revs inline, EBITDA 1.7% beat, stocks hasd a good run
Deut Bank +1% Reached agreement on Russian operations, penalty of $425m
Galp +1-2% Solid trading statement, upstream exit rate better
Gemalto +0.5% Awarded a multi-year contract from Swedish Tax Agency
Givaudan -3% EBITDA 481 vs 513, Div at the low end of the range
Greencore +2-3% LFL sales +9.1% in Q1, confident of delivering FY
H&M +4-5% Q4 Pre tax SEK 7.41b est SEK 7.04b, margin better
Luxottica +1-2% Q4 sales inline with expectations, 2017 started well
Miners -0.5% Copper +0.70%, Brent -0.30%, Iron Ore CLOSED, China CLOSED
Ocado +2-3% EBITDA a miss, revs inline, op profit slightly better
Randgold -1% CS DOWNGRADE to NEUTRAL (Valuation)
Repsol +0.5% Trading update slightly light, FCF and net debt better
Royal Dutch +1-2% To sell package of UK North Sea assets to Chrysaor
Saipem -1-2% Peer Chiyoda profit warning relating to UK subsea entity
Seadrill -10%+ Restructuring update, clearly difficult
Severn Trent +0.5% Upgrading outcome delivery incentive, confirms expectations
SSE M/P numbers and guidance inline, CS is corp broker
Subsea -1-2% Peer Chiyoda profit warning relating to UK subsea entity
TechnipFMC -1-2% Peer Chiyoda profit warning relating to UK subsea entity
Tele Austria +1% Q4 Revenues +1.6% y/y, guidance slightly better
Tods +2-3% CS DOUBLE UPGRADE to OUTPERFORM (Trough margin)
RBC INDICATIONS:
RBC INDICATIONS:
EURO STOXX +9bps FTSE FUTURE +16bps
*ALFA LAVAL: +3% Q4 net sales beat, 5% adjusted EBIT beat, marine margin guidance poor.
*BRITVIC: +1% Q1 trading solid, sales in constant currency +4.3%, good performance.
*COM HEM: +1% Q4 revs in line, underling EBITDA slightly ahead, '17 guidance in line.
*CYBG: -1% core SME loan growth negative, '17 guidance unchanged.
*SANONE: +1% positive read from YAKULT (+7%), they own 20% on good Q3 numbers.
*DBK: +2% to pay $425M settle with NY DFS, FCA fined £163M for money laundering.
*FIAT: -2% Brazil car sales -15% YoY in JAN v -10% in December.
*GALP: +1% Q4 trading update confirms volume growth on track, prod increased.
*GIVAUDAN: -4% H2 underlying earnings miss, EBITDA 6% below consensus.
*H&M: +5% Q4 PTP 5% beat & EPS 8% beat, January trading in line.
*LUXOTTICA: +1% Q4 retail net sales €2.14B, wholesale weaker.
*OCADO: +1% FY core earnings +3.3%, EBITDA tad light.
*POLYMETAL: 0% purchased the 25% minority stake in its TARUTIN copper deposit.
*REPSOL: -1% Q4 production slightly light, refining margin increased.
*SANNE: +3% US performance better, lower interests costs and tax rate, better EPS.
*SHELL: +2% sell package North Sea assets & sells 22% stake in Thailand Bongkot field.
*SSE: 0% div continue to increase in line with inflation, reiterates guidance.
*UCG: -2% FY'16 net loss expected to be €1B worse than initial guidance.
*WOOD GROUP: +1% secured new 5-year contract with HESS in Malaysia.
MainFirst Pre Mkt Indications
*UNICREDIT-Additional Neg.1-offs amount to about €1b,Net -€11.8b.........-2%
*DBK-Pays $425m to settle NY probe over Russian m/laundering.............+1%
*GEMALTO-To supply Digital Identity Solution 4 Swedish Tax Agency........+0.5%
*VOLVO-Gained Europe Heavy Trucks Market share in 2016 - DI..............+0.5%
*GIVAUDAN-FY Sales 4.66b(4.69),Ebitda 1.13b(1.15),Div 56(58).............-3%
*SCA-Skandia & Folksam interested in SCA's forest division - DI..........+0.5%
*NORDEA-Plans to end Equity Ops in Finland says Kauppalehti..............U/C
*DUFRY-Extends World Duty Free concession at Jersey Airport 10yr.........+0.5%
*TLG IMMOB-Selling 6.7m new shs,via JPM & UBS(fund real est acq).........-0.5%
*ALFA LAVAL-Net Sales 9.90b(9.38),Div 4.25(4),Savings SK500mln...........+3%
*LHA-Wants lower ticket prices,also no major delays from labor talks.....-0.5%
*CENTROTEC-FY Sales 575m(569.5),Ebit upper end.FY17 Sales ok,Ebit lite...+0.5%
*COMDIRECT-FY N/Int 118.9m(119.3),Fee Inc 215.4m(212.3),Net 92.5m(89.2)..+0.5%
*GFK-FY16 Sales 1.48b(1.492),Sees difficult enviroment in 2017...........-0.5%
*LUXOTTICA-Net Sales 2.14b(2.137),First few weeks of 2017 started well...+1%
*H&M-Q4 PT 7.41b(7.04),NI 5.91b(5.46),Gross Margin 57%(56.6),New tgts...+3%
MS Pre Open Indications
ALFA SS +3-4%
BVIC LN +1-2%
COMH SS +1%
CYBG LN -1%
DBK GY +4%
GIVN VX -2-3%
HMB SS +2-3%
LUX IM UNCH/+1%
OCDO LN +2-4%
RDSA LN +1%
SSE LN +1%
SVT LN +1%
TEVA IT -10%
TLG GY -3%
ZAL GY +1%
Shore
CARPETRIGHT - recent LfL sales +6.8%,comfortable with FY profit range.......+2%
SSE - re-its FY g'dance,divi to rise in line with RPI.......................-1%
STRIDE GAMING - trading in line,organic growth encouraging,well placed......UNCH
JOULES - grp revs +16.2% £81.4m,PBT +19.9%,margins +101bps,trading in line...+2%
CARCLO - H2 trading remains strong and in line,debt in line,positive outlook.+1%
BRITVIC - Strong start to year.Says confident of meeting estimates..........+1%
GREENCORE - Confident 2017 to meet market expectations......................UNCH
OCADO - Fy ptp +21.8%.Gross retail sales+13.6%.Active customers +13.9%.......+1%
EARTHPORT - Sees H1 rev 14.3m.Gross margin 70%.Cash balance 11.4m..........UNCH
CYBG - Q1 in line,mortgage book +4.4%,CET1 rose to 12.8%,FY17 g'dance unch..UNCH
INTERMEDIATE CAP - Q3 in line,AuM +3% €22.6bn,mkt conditions favour position.+1%
SEVERN TRENT - Q3 trading in line,ODI rewards ahead of prev g'dance.........UNCH
SCS GROUP - in line,LfL +2.7%,against tough comp's for remainder of yr.....UNCH
CONVIVIALITY - correction H1 EPS,7.2p not 9.2p,no affect on profit in period.-1%