ML
SAINSBURY – SAINSBURY, ASDA AGREE MERGER TERMS, VALUING ASDA @GBP7.3B(300)+10%
IRV - Results look more or less in line with no change to Oct update(111).+3/5%
WPP – Flat organic sales growth in Q1 better than expectations c-1% (1200)+3/5%
DEUTSCHE TELEKOM – T-Mobile US to buy Sprint for USD26.5bn in stock (15)....+3%
RIB – STILL SEES FY REV. EU117M TO EU127M; FY EBITDA EU33M TO EU43M (21.1)..+2%
ACCOR – Acquires Movenpick Hotels & Resorts for 560M CHF (46)...............u/c
AIR FRANCE – KLM Head says that Air France strike “disastrous”, Les Echos(8)u/c
DBK – Said to plan Postbank integration by end of May: Handelsblatt (11.5)..u/c
NORDEX – CFO sees German market demand growing afain in 2020: BZ (9.5)......u/c
TIT – Say report on CEO Genish ready to quit is misleading (0.82)...........u/c
SEBA SS – 1Q NET INCOME SEK4.0B, EST4.24B; CET1 RATIO 19%, EST18.9% (85.5)..-1%CS
Accor +0.5% AccorHotels signs agreement with Mövenpick Holding
Amer Sports +1% Acquired Peak Performance AB, approx. EUR 255m
Eurofins +2% Acquires Covance Food Solutions for $670m
GVC M/P CS INITIATE with NEUTRAL (Near term risks)
Luxottica -0.5-1% Q1 sales light, Net sales 1% miss, confirms outlook
Miners M/P Copper +0.40%, Brent -0.55%, Iron Ore closed, China closed
Mondi M/P Agreement to acquire 100% NPP
Morrison -3% Following news Sainsbury and Asda to merge
Oils UNCH The US rig count increased by 8 to 1021. Brent -55bps
Sabadell -1% Software glitch keeps TSB online users stranded
Sainsbury +7-10% Agrees terms with Asda to merge
SEB -2% Pre-tax profit 4% below cons, CET1 10bp beat
Tesco -3-4% Following news Sainsbury and Asda to merge
WPP +1-2% LFL revs up 0.8%, outlook unchanged