CS
Adidas +3-5% Q2 Sales +19% vs CS at +15%, increased guidance
Air France +7-10% Delta/China Eastern to buy 10%, numbers good too
Air Liquide +0.5% Adj EBIT 1656 vs CS at 1662, guidance unchanged
Altice +0.5% Adj EBITDA beats est, revs slightly light
Amundi UNCH Net outflow a miss, net profit a decent beat
Bank of Ire UNCH PBT 9% ahead of CSe, NII 2% light vs CS
Barclays +1% FICC -15% qoq, CET1 at 13.1% cons 12.8%
BBVA +0.5% Q2 net 7% ahead, Revs 2% ahead of cons
BNP +3% 20% Net beat versus consensus, CET1 inline
BT Group +1% 1% EBITDA beat, confirms outlook
Bureau Veri M/P Q2 EBITA inline at €359m vs cons €358m, reiterated FY
CaixaBank +2% Q2 17 net profit of Eu436m cons Eu367m, CET1 at 11.5%
Cellnex +1% Revs inline, EBITDA slightly light, agreement with Bouygues
CGG +5% Revs 26% ahead, EBITDA 64% beat
Cofinimmo M/P H1 adj eps €3.25 vs cons €3.23, EPS €6.49 vs cons €6.59
EDF -1% H1 EBITDA at 7bn looks 1% light vs bbg cons, confirms 2017
EDP +1% H1 EBITDA 1.9bn vs 1.89 cons, net 5% beat vs cons
Engie +2% H1 EBITDA 3% ahead of consensus, Guidance confirmed
Enel +1% Net income slightly better, confirmed 2017 guidance
ENI +1% No's better, Beat driven by downstream, upstream miss
Essilor -2% 1H revs inline, cut FY rev growth TGT
Euronext +2-3% Q2 17 EBITDA 5% ahead of cons, revs better
Eutelsat +2% Revenues in line. EBITDA ~1% ahead, guidance better
Ferrovial +1% Sales 6.06bln cons 5.92bln , EBITDA 469mln cons 460mln
Fiat UNCH Said to win EPA approval for selling 2017 diesel vehicles
Flow Traders +2% Q2 Net trading income (NTI) to Eu46.7m (cons. Eu46.9m)
Forbo M/P H1 Revenues inline, Guidance for the FY 2017 is confirmed
IMI +2% Sales 1.5% ahead, op profit 4% miss
Indra -1% Revs inline €1.38b cons €1.382b, net €38m cons €45.1m
IAG +5% Q2 adj op prof €805m vs cons 746m, positive outlook
Italgas +0.5% H1 EBITDA looks 2% ahead, net 1% ahead
JMAT M/P Trading inline with expectations. Reiterated guidance
Kering -1% H1 revs 1% beat, op income 3% beat
Linde R 1H revs EU8.65B, outlook for 2017 confirmed
Logista M/P Numbers inline with market expectations
L'Oreal -1-2% LFL sales growth 4.3% est 4.7%, 1H op pft E2.53B,est E2.58B
Luxottica -2% Negative read from Essilor who cut its FY rev growth target
Morg Adv +1-2% 1h revs 518.9m cons 512m, op profit 61.6m cons 56.6m
MTU Aero +3-5% Adj EBIT ahead, increasing rev guidance
Miners -2% Copper -0.70%, Brent +0.30%, Iron Ore +0.70%, China +0.10%
Prudential UNCH Positive read from AIA numbers
Proximus -2-3% 2Q Adj EBITDA meets ests, forecasts maintained
Rai Way +1% Revs inline, net ahead
Rightmove M/P H1 Revenues 0.5% ahead, Underlying op profit 1.2% ahead
Rotork -2% CEO Peter France resigns
Renault -1-2% Revs inline, op profit 1.5% miss
Safran -1% H1 adjusted net EU 1.61b, Confirms outlook for full year
Saipem +1-2% Awarded offshore contract worth $900m
Saltzgitter -2% Prereleased Q2, slight miss, guidance upped but still below
St Gobain UNCH 1H sales inline with cons, Ebitda 2.07bln cons 2.16bln
Securitas -2% Q2 organic growth +3% cons +3.4%, EBITA light
Tele Italy +2% Q2 Rev EU 5bln est EU 4.9bln, De Puyfontaine Interim CEO
Teleperf +1-2% Q2 in line, guidance refined slightly higherUBM plc
UBM +2-3% H1 Revs GBP 448.4mln est GBP 443mln, FY Outlook confirmed
UBS -2-3% PBT inline, beat in WM offset by a modest miss in the IB
VINCI M/P EBIT slightly better, 1% miss on EPS, outlook reiterated
Wacker Chem -1% No's inline, Guidance raised but to where cons is
Wolters Klu +1% Increased share buyback by EU100m, reiterates FY
Investec calls
• BARCLAYS-H1-#'s not great, lots of 1 offs.PPI worse. IB soft..............-1%
• BT-in line nos,broadband net adds 19k vs 29k lst Q BUT dwn big vs 76k a Y.-2%
• EQUINITI-in line w/ exp, and FY guidance affirmed, O/P decent recently....-1%
• ESSENTRA-H1.#'s decline continues(expected)CEO trying to stabilise........-2%
• FAROE PETROL-Acuires further interest in UK Blane Field for $5.25m.......unch
• FORTERRA-Aqcuires Bison Manufacturing for £20m............................+1%
• GLENCORE-Agrees to buy 49% interest in Hunter from Yancaol................-1%
• IAG-H1.Strong Update, at current FX lvls expects O/P double dig % imp yoy.+3%
• IGAS-Caudrilla set to drill fracking well in lancashire...................+3%
• IMI-H1.#'s ahead, sees FY 'modestly' above current market exp's...........+2%
• JOHNSON MATTHEY-Q1.Trading in line, reits FY guidance....................unch
• LAIRD-H1.#'s I/L.Connected vehicles Strong, cash flow weak...............+1%
• MORGAN ADV.-H1.#'s in line, see momentum improving into H2..............+1-2%
• RIGHTMOVE-H1.#'s I/L,visibility improving.Confident of meeting FY exp's..unch
• UBM-H1.Rev a sml beat. No chgnage to FY outlook.........................+1-2%
• WORKSPACE-Raises £200m in in 8&10 yr loan notes..........................unch
MainFirst Pre Mkt Indications
*KERING-Rev 7.3b(7.22),Op Inc 1.27b(1.23),Gucci L-F-L 39.3%(30%).....+3%
*RENAULT-H1 Net 2.416b(2.08),Lifts Russia/Brazil est,reits FY........-2%
*CS-Rev 5.21b(5.27),NI 303m(294.2),WM PT 378m,GM PT 300m.SI 1.8%.....+2%
*BNP-NI 2.4b(1.91),FICC Rev -16%,GM Rev 1.52b,LLP 662m,SI 0.9%.......+1%
*UBS-Net 1.17b(800.3),Op Inc 7.27b(7.25),WM NNM 13.7b,SI 0.5%........+1%
*ADIDAS-Raises f/c for 2017,NI 1.36-1.39B(1.2-1.225) - 8%/9% U/G.....+4%
*SAFRAN-NI 1.61b(1.4),Rev 8.38b(8.12),FCF 666m,SI 1.38%..............-1%
*VINCI-Rev 18.51b(18.4),NI 1.03b(1.05),OP 1.9b(1.89),Reit FY.........-1%
*AIR LIQUIDE-Rev 10.29b(10.3),Net 928m(946),upbeat on Airgas deal....0.5%
*EURONEXT-Q2 Rev 137.3m(133),Ebitda 79.2m(74),NI 54m(50).............+1%
*EUTELSAT-FY Rev 1.477b(1.47),Net 351.8m(332),Confirms targets.......+2%
*CAIXABANK-NI 436m(365.9),NII 1.2b(1.19),CET 11.5%,B/Loans 6.5%......+2%
*AIRFRANCE-Q2 Rev 6.61b(6.53),jv with Delta/China Eastern,Virgin.....+1%
*LINDE-H1 Rev 8.65b(8.7),OP 2.12b,Sees FY Rev Grth -3% to +3%........-0.5%
*ITALGAS-Net 140m(136.3),Ebitda 390m(384.2),Rev 565m(562.8)..........+2%
*BUREAU VERITAS-H1 Rev 2.36b(2.35),OP 359m(354),Net 188m(194.5)......+2%
*ENI-Q2 Net 463m(287.9),Op Cash Flow 2.28b,Production 1.77m..........+1%
*ST GOBAIN-H1 Sales 20.5b(20.5),OP Inc 1.47b(1.5),O/Sales +3.5%......U/C
*BBVA-NI 1.11b(1.04),CET1 11.1%,Bad Loans Ratio 4.8%.................+1%
*EDP-Net Inc 450m(427),Ebitda 1.90b(1.908),Net Debt 18.89b June......+1%
*ENEL-Ebitda 7.53b(7.64),NI 1.81b(1.78),Rev 36.3b(37.4)..............-0.5%
*TELEPERFORMANCE-Rev 2.08b(2.06),Net 116m(127),L-F-L Rev Grth 7%.....+0.5%
*LAGARDERE-Rev 3.31b(3.26),NI 29m(47.35),Ebit 136m(125.5)............+3%
*VISCOFAN-Rev 390.3m(389),NI66.2m(67.93),Ebitda 116.6m(111.75).......+0.5%
*FERROVIAL-Sales 6.06b(5.92),Net 240m(156),Ebitda 469m(460)..........+2%
*L'OREAL-Rev 13.4b(13.8),OP 2.53b(2.58),L-F-L Grth 4.3%(4.7).........-2%
*IAG-Q2 Rev 5.95b(5.78),OP 805m(746.7),Sees ticket Rev up H2.........+3%