BAML Indications:
ATLAS COPCO - We UPGRADE to Buy.Best positioned machinery name for IIoT(321)+1%
EXOR - We UPGRADE to Buy from Neutral rating, with a new PO of EUR62 (52.1).+1%
AIR FRANCE - Traffic increased by 3.4% and load factor improved by 1.5% (13)+1%
MINERS - Brent +0.8%, Copper unch and in OZ o/n: RIO -0.2% & BHP unch.......u/c
BRITISH LAND - £300mn 12 yr bond @ 2.375% - their avg cost is circa 3% (601)u/c
AHOLD - Management changes announced in Europe, won't move the dial (15.3)..u/c
EXPERIAN - Equifax hackers have accessed details of 143m US consumers (1505)-1%
AKZO - Cuts 2017 EBIT growth view; CFO is on leave on health growth (77)..-2-3%
GREENE KING - Soft update. Trading has weakened in H2, LFL sales -1.2 (635).-4%
Investec
UK
• BERENDSEN-Last day of dealings...........................................unch
• BRITISH LAND-Maiden £300m unsecured sterling bond. In line...............unch
• CAPE-Altrad offer (265p/sh) unconditional in all respects................unch
• DAIRY CREST-Pension update.Reduces cash contributions by £12m(2 yrs)......+1%
• DIAGEO-£1.5bn buy back starts today(announced in July)...................unch
• GREENE KING-Update. Trading since Juply has been weak.....................-5%
• NAHL GRP-Refinanced banking facilities. In line..........................unch
• RBS-CEO Ross McEwan a contender form CEO at Commowealth Bank of Aus(FT)..unch
• SAFESTYLE-Update.Another WARNING as order intake below forecasts.........-25%
• SANNE GRP-Multiple looks too rich despite growth prospects(Times).........-1%
• VODAFONE-To hire UBS,Deutsche for IPO of Vodafone New Zealand(Bloomberg).unch
Europe
• AIR FRANCE-Aug passengers +1.6%, load factor +1.5%........................U/
• AKZO-p/warning,to miss ebit gth targets.Will bid spec come back?..........-5
• NATIXIS-to buy remaining 40% of BPCE for €272m, earnings accretive........+1
• RUBIS-H1 ebit +10% YoY, sees profit growth sustained in H2................+1
• SAP-sees mkt cap 'not far off' €300bn by 2020. Bullish!...................+1
• TAKEAWAY.COM-Prime Ventures selling down via abb, deal size got cut.......-7
• UBS-sells stake in j/venture to HNA. Paid around €135m for it in 2007.....U/
• VIVENDI-said near deal with regulator over MEDIASET control...............U/
• VW-team working on non-core sales,mass mkt merger unlikely soon(WSJ)....-0.5
CS
Akzo Nobel -2-3% Co cuts 2017 EBIT growth to less than €100m
AMS AG -1% New Iphone suffering from production glitches (WSJ)
Banks -0.5% Further tightening in US and EU yields overnight
Burberry +1% CS u/g to o/p - management changes drive brand turnaround
Dairy Crest +1-2% Cash pension contributions cut by ~GBP12m Next 2 Yrs
Experian -2% Equifax hackers access details of 143m US consumers
Greene King -3-5% First 18 weeks lfl -1.2% against a market which was -0.7%
Just Eat +1-2% CS reit buy - Co only scratching the surface of potential
Miners unch Iron Ore -80 bps, Copper +20 bps. Sector marginal O/P in Oz
Munich re -1% US peers down a further 7% on hurricane damage estimates
Siltronic +1-2% Peer GLOBAL WAFERS (6488 TT) trading +5.1%
Swiss Re -1% US peers down a further 7% on hurricane damage estimates
VW +0.5% Co is working on deals for non-core assets (WSJ)
MainFirst Pre Mkt Indications
*AKZO NOBEL-Cuts Ebit Growth,CEO on leave due 2 health reasons.......-5%
*ROCHE-Reports progress in Biomarker science in cancer...............+0.5%
*RUBIS-H1 Rev 1.82b(1.82),Ebit 177m(177),NI 139m(118),o/l inline.....+0.5%
*VIVENDI-Near to deal to cut Mediaset stake,owns 28.8% - Rtrs........+1%
*VW-Eyes sale of assets accounting for 20% of revs says WSJ..........+0.5%
*INGENICO-Read across from Verifone(-5% a/h),Q3 Margin/EPS weak......-1%
*DEL HERO-TAKEAWAY.COM ABB of 4.5m shs cut to 2.5m,priced at €37.....-1%
*AIR FRANCE-Aug Passengers Capacity +1.6%,Grp Traffic +3.4%..........+0.5%
*SAP-CEO sees co not far off €300b mkt cap by 2020 - WIWO............+0.5%
*AMS/DIALOG-New iPhone may be delayed,due to production glitches.....-1%