BofAML EMEA Indications
SWATCH - Swiss watch export data -5.4%, cFX 8.2% & 14.28% adj for days (398)+2%
GREENCORE - Results inline & outlook reassuring. Stock has been weak (232)..+2%
RICHEMONT - Swiss export data -5.4%, cFX 8.2% & 14.28% adj for days (82.9)..+2%
SEVERN TRENT - Ahead at EBIT/EPS and £100m new cost savings announced (2473)+1%
VIVENDI - CEO says the co could float a minority stake in Universal (19.2)..+1%
PARAGON - PBT 1% ahead of BAML & bad debts £2.3m better. Income inline (476)+1%
MERLIN PROPS - We UPGRADE to Neutral, with new PO of EU11.60/ share (11)..+0.5%
BIG YELLOW - FY rev/pretax inline. Trading been small better than exp (798).u/c
ROCHE - Gets FDA approval for Actemra/Roactemra. Won't move dial today (267)u/c
ASSURA - 21% increase in investment property, 7.6% growth in EPRA NAV (59)..u/c
ASTRAZENECA - Co says diabetes drug meets primary safety objective (5130)...u/c
ELECTROCOMPONENTS - FY pretax a 1% beat but may struggle to kick on (538.5).u/c
AVEVA - FY results look bang inline with ests. Won't move the dial (2043)...u/c
VIENNA INS - Results inline with combined ratio of 96.9% v 97.3% cons (24.5)u/c
MINERS - Copper -0.35%, Iron Ore fut -1.8% & BHP OZ -1.26%, RIO OZ -0.44%.-0.5%
SHAFTESBURY - NAV +2.7% to 912p net of 24p refin effects, EPS +12.3% (957)-0.5%
HISPANIA - We DOWNGRADE to U/P. Valn analysis suggest price is too full (14)-1%
IP GROUP - Raising capital but are also bidding for Touchstone Group (140)..-2%
Investec
Euro
* EURONEXT-buys Fastmatch to expand into global FX, earnings enhancing......+2%
* KLEPIERRE-buys shopping mall in Murcia for €233m.......................+0.5%
* RICHEMONT-Swiss watch exports -5.7% April(-1.9% adj) vs +7.5% in March....-1%
* ROCHE-gets FDA approval for Actemra/RoActemra...........................+1.5%
* SWATCH-Swiss watch exports -5.7% April (-1.9% adj) vs +7.5% in March......-1%
* VIVENDI-could float Universal Music stake, no immediate plans-CEO(WSJ)....+1%
* VW-to spend €10bn on improving combustion engines efficiency.............U/C
Other news
* EMAK-Yama sold 10% stake at €1.71 (closed €1.849), now owns 65.1%
* KION-places 9.3m new shares (8.55%) at €64.83
* MEDICOVER-starts trading today, priced SEK56(range SEK49-63) mkt cap SEK7.5bn
* SRP GROUPE-Accel sells 2.835m shares (8.3%) at €25 (closed €26.20)
* VOLVO-Cap Mkts Day
UK
* ABERDEEN/S.LIFE-CMA launches Phase 1 merger inquiry(deadline 18/7).......unch
* ANGLO'S-Said to receive new bid for its New Largo project(Bloomberg).....-½%
* ASSURA-FY-NAV +7.6%,EPS +20%,strong pipeline,9.8% divi increase...........+2%
* AVEVA-FY-Inline,strong cash gener'n.Confident on strategy delivery.......unch
* AVON RUBBER-Wins contract to supply 37k FM50 respirators.No £ mentioned..+½%
* BT-Facing potential tax bill of £232m in Brazil (FT)....................-½%
* BIG YELLOW-FY-LFL occupancy +2.8%,+11% EPS,FCF +10%,current trading ahead.+1%
* CRANSWICK-FY-Rev/PBT ahead, margin light.Circa 5% EPS/PBT upgrade........+2%
* DE LA RUE-FY-EPS 7.1% ahead,debt i/l,div maintained,cotton price headwind.+2%
* EASYHOTEL-H1 small ahead Board exp's,strong like for like rev' perf'......+1%
* ELECTROCOMPS-FY-Rev/PTP beat est's, FY div +4.8%, +tive outlook..........+2%
* ENT.ONE-FY-TV/Family strong,Film flat yoy,debt rises,3% FY18/19 D/G......-2%
* GEM DIAMONDS-Q1.Recovers 98.2 ct diamond.Prod behind,hoping to catch up...+2%
* HOMESERVE-FY-Rev beats,Op prof +22%,div +20%,rapid N.Amer' expansion......+3%
* JUST EAT-STM Fidecs sells 17m shs at 600p (closed 613p)...................-1%
* PARAGON-H1.#'s in line.Buy to let pipeline & lending volumes v strong.....+2%
* PREMIER VET-H1.Reassuringly in line(post recent upodate)No chg to FY......+1%
* SCAPA GROUP-FY.Rev sml beat.Div +14%. Swiss facility closed (i/l).........+1%
* SEVERN TRENT-FY.Rev ahead of est.upgrades dividend policy (RPI +4%).......+2%
* SHAFTESBURY-H1.#'s ahead.West End properties 'resilient'..................+1%
* STOCK SPIRITS-Update.Trading broadly i/l. Poland remains an issues........-1%
* TOPPS TILES-H1.Sees weaker H2,FY PTP to be at bottom end of range.........-5%
* UDG HC-H1.Strong #'s, increases guidance for FY.........................+1-2%
Macq UK Indications:
* Anglo American AAL- Receives a bid for New Largo project in South Africa. Unch
* Gem Diamonds GEMD-Recovers 98.42 Carat Stone at Letseng Mine, will be sold in June. +2%
* Just Eat JE/-Largest shareholder STM Fidecs places 17m shs at 600p, 90 day lock up (613p close). -1%
* NEX Group NXG- Co. will unveil its year-long project to restructure post-trading division on Tuesday (FT) .+1%
* Paragon PAG-Numbers inline with est’s, buy-to-let pipeline exceeding expectations. +3%
* Severn Trent SVT- Big beat at EPS & upgrades Dividend policy. +3%
* Shaftesbury SHB- West End trading well, Net property income up 4%. +1%
* Stock Spirits STCK-Trading inline, FY Expectations remain unchanged. Unch
RBC PRE-MKT INDICATIONS
*AAL: 0% received bid for New Largo project in SA, small positive.
*BIG YELLOW: +3% trading better than expected, occupancy over 80% this summer.
*ECM: +2% FY revenue beat, EPS on track, upbeat outlook.
*ETO: +1% FY revenue beat, dividend better, growth targets on track.
*FRESNILLO: 0% on track to achieve FY'17 production guidance in AGM statement.
*GEMD: +1% Q1'17 IMS mixed, costs poor, better stone recovery & sales.
*GREENCORE: 0% H1'17 revenues in line, confident in FY'17 expectations.
*HOMESERVE: +2% FY results in line with April guidance, UK & US strong.
*JUST EAT: -2% placing of 15M shared @ 600p per share.
*PARAGON: +1% H1 numbers small miss, lending volumes exceeding expectations.
*NOSTRUM: +1% Q1'17 revenues beat, strong set of numbers.
*SEVERN TRENT: +3% FY revenue beat, dividend policy upgraded.
*SHAFTESBURY: +1% H1 net property income £43.8M, dividend better.
*SPORTS DIRECT: +1% increase stake in FINISH LINE from 9.2% to 13.6%.
*SOUND ENERGY: +1% increase in discovered resource estimate for Tendrara Discovery.
*TOPPS TILES: -1% 26 weeks ended 1st April rev -1.3%, LFL -1.9%.
*UHR/CFR: -1% Swiss Watch Exports for April -5.7% v +7.5% in March.
CSFB
Anglo Am M/P Received a bid for its New Largo project in South Africa
Bakkafrost -2-3% Q1 EBIT light and harvest guidance reduced
Clariant -1-2% Huntsman closed down 2.1%
Electrocomp M/P FY Revenues 1.5% ahead, PBT 1% ahead
Euronext +1% To Buy FastMatch for Initial $153m
Forterra M/P FY expexctations remain unchanged
Homeserve +1-2% FY revs 1.5% ahead, PBT inline, dividend better
Lem Holdings +1-2% Q4 sales 1% ahead, EBIT 2.5% ahead
Miners -0.5% Copper -0.15%, Brent -0.75%, Iron Ore -1.40%, China +0.20%
Richemont +0.5-1% Swiss watch exports -5.7% y/y on three fewer working days
Severn Trent +2% EBIT 2% ahead, increased the divi guidance
Shaftsbury M/P NAV slightly light vs CS est, commentary good
Swatch +0.5-1% Swiss watch exports -5.7% y/y on three fewer working days
TGS +2% Ups investment guidance to $260m from $220m
UCB M/P CS DOWNGRADE to NEUTRAL (CV concerns from Evenity)