ML
BT - Orange selling 133m shrs (1.3%), BT to buyback £200m @ placement price..
SERCO - Signs £1.5b contract in Australia for the New Grafton Centre (119)..+1%
PROSIEBEN - +ve; Announces sales of Etraveli to CVC capital partners (37.7).+1%
N BROWN - Grp revs +5.6% driven by ladieswear. Online revs +16% too (288)...+1%
EON - We UPGRADE to Buy.Has flexibility to increase div payout to 70-80% (9)+1%
NOVARTIS - Positive PIII data reported for RTH258, the dry eyes drug (80)...+1%
DASSAULT - Announces the acquisition of Outscale. No terms disclosed (83.4).u/c
MINERS - Oil -0.4%, Copper -0.3%, Iron Ore futs -0.3%, BHP 0.1%,RIO -0.4%.-0.5%
DKSH - We D/G to Neutral post strong run. 3rd consecutive beat unlikely (81)-1%
TULLOW - CFO resigns due to ill health having taken leave of absence (157)..-1%
WOLSELEY - Trading profit 12% below BAML on lower margin but FY inline(4738)-3%
IWG - CEO Dixon sells 3% stake at 345.1p v 359.5p close. Retains 25.2% (349)-3%
CASTELLUM - AP2 sells 13.2m shares at SEK 126/shr, circa 5.5% discount (128)-4%
Citi:
UK
UK
* Aggreko - Oz subsid gets Rio's A$100m Amrun Power Station contract +2%
* BT - Orange to cut 4% BT stake with stock/convertible sales -2%
* N Brown - fy guid unch,closing 5 stores at cost of £10-14m unch
* Wolseley - Q3 revs in line,sees fy trading profit in line with views -2%
* Tullow - cfo Springett resigns,replaced by interim cfo Wood unch
* Interserve- co wins £265m account extension +1%
* Barclays - SFO charges ex ceo Varley for fraud re:Qatar probe unch
* BT - Orange to cut 4% BT stake with stock/convertible sales -2%
* N Brown - fy guid unch,closing 5 stores at cost of £10-14m unch
* Wolseley - Q3 revs in line,sees fy trading profit in line with views -2%
* Tullow - cfo Springett resigns,replaced by interim cfo Wood unch
* Interserve- co wins £265m account extension +1%
* Barclays - SFO charges ex ceo Varley for fraud re:Qatar probe unch
EU
* Orange - co cuts a third of its 4% stake in BT +1%
* Pl Omnium - placement of €500m euro bond issue -1%
* Ipsen - IRC confirmd primary enpoint for renal cell carcinoma +1%
* Kloeckner - US peer Reliance Steel cuts Q2 profit fcast,down 7% a.h. -1%
* Pl Omnium - placement of €500m euro bond issue -1%
* Ipsen - IRC confirmd primary enpoint for renal cell carcinoma +1%
* Kloeckner - US peer Reliance Steel cuts Q2 profit fcast,down 7% a.h. -1%
CS:
DKSH -2-3% CS DOWNGRADE to NEUTRAL (weak market conditions)
DKSH -2-3% CS DOWNGRADE to NEUTRAL (weak market conditions)
Implenia +1% Wins Order for Geneva Project Worth Around CHF300m
Miners -0.5% Copper -0.55%, Brent -1.10%, Iron Ore -1.00%, China UNCH
Mittal -1-2% Peer Reliance Steel -6% after hours as Cuts 2Q EPS
Modern Times M/P To acquire Kongregate
N Brown M/P Last 13 weeks lfl +5.6%, online increasing, guidance unch
Novartis +1-2% RTH258 reached primary efficacy endpoint. (eye treatment)
Serco M/P Signs £1.5bn contract for NGCC, already known
SGS M/P Acquisition of Harrison Research Laboratories (USA)
Tullow M/P CFO has resigned ue to ill-health
Ultra Elecs M/P Awarded $18m contract for an integrated security system
Wolseley -1% Revs 4.27bln vs cons 4.3bln, expects FY to be inline
Commerz:
BNN +4.8% DBK starts with Buy, PT €28
EVT +0.7% Evotek to invest in Facio Therapies to support FSHD Therapy
KCO unch Reliance Steel have cut their Q2 EPS 4cast, shares off 7% after hrs
LIN +0.2% Sinopec & Linde form JV to produce industrial gases in Ningbo
MUV2 +0.4% DBK raised to Hold (vs Sell)
OSR +0.7% Lampe raised to Buy (vs Hold)
PSM +0.4% sells Etraveli to CVC Capital Partners
RHM -0.9% Mainfirst cuts to Neutral (vs Outperform), PT €65
SNG -1.6% Singulus receives prepayment in single digit mln range
WDI +0.1% m-payment cooperation in 10 markets with VEON (235mln customers)
Mainfirst:
Commerz:
BNN +4.8% DBK starts with Buy, PT €28
EVT +0.7% Evotek to invest in Facio Therapies to support FSHD Therapy
KCO unch Reliance Steel have cut their Q2 EPS 4cast, shares off 7% after hrs
LIN +0.2% Sinopec & Linde form JV to produce industrial gases in Ningbo
MUV2 +0.4% DBK raised to Hold (vs Sell)
OSR +0.7% Lampe raised to Buy (vs Hold)
PSM +0.4% sells Etraveli to CVC Capital Partners
RHM -0.9% Mainfirst cuts to Neutral (vs Outperform), PT €65
SNG -1.6% Singulus receives prepayment in single digit mln range
WDI +0.1% m-payment cooperation in 10 markets with VEON (235mln customers)
Mainfirst:
*THYSSEN-Elevators doing well in US,while China is firmer-CEO.......+0.5%
*ORANGE-Reduces stake in BT from 4%(133m shs),via Exane,BNP,JPM.....+0.5%
*NOVARTIS-RTH258 reaches primary efficacy endpoint($465m sales '21).+0.5%
*JC DECAUX-Wins contract at Guanghoz airport,Rev €50m a year........+0.5%
*LUFTHANSA-German Govt sees hurdles for Air Berlin aid - Press......+0.5%
*NESTLE-Invests in US Online meal subscrition service Freshly.......+0.25%
*DASSAULT SYSTEMS-Acquires majority stake in Outscale,no terms......+0.25%
*WIRECARD-Forms global partnership with Veon........................+0.25%
*HAWESKO-After 5 months well on track to achieve FY targets.........+2%
*BAYER-Minor -ve read across from Novartis RTH258 news(eye drug)....-0.5%
*KERING-St Laurent sees €2blnannual sales in mid-term(CMD yest).....+0.5%
*PRO7-Sells Etraveli to CVC for $508m,contins Travel bizz review....+0.5%
ShoreCap:
BARCLAYS - SFO charges four individuals, inc ex-CEO John Varley..............MKT
WOLSELEY - Q3 rev +16.7% £4.27bn,LfL +6.6%,trading profit +9.5%,FY in line.-0.5%
ULTRA ELECTRONIC - wins security system contract from Intl client worth $18m.+1%
TULLOW OIL - CFO resigns due to ill-health..................................UNCH
INTERSERVE - awarded 2-yr defense bases contract extension worth £265m.....+0.5%
NWF - FY trading in line & ahead of prev yr,Feeds division improved in H2...UNCH
INSPIRED ENERGY - continues to trade in line,order book grows to £31.5m......+2%
N.BROWN - Excellent start to yr.no change to our top of range expectations...+1%
RWS - H1 sales 76.6.Pbt 19.4m.Int divi +13% to 1.3p..........................+2%
SERCO - Est value of prison contract win AUD2.6b over 20 years...............+1%
MORGAN SINDALL - two-yr extension to W.Midland reinstatement works worth £60m+1%
RBC:
*ASSURA: -2% placing of 164M shares @ 58-60p.
RBC:
*ASSURA: -2% placing of 164M shares @ 58-60p.
*BARCLAYS: -1% SFO charges BARC & four individuals in Qatar case.
*BT/: -1% ORA sells shares.
*CASTELLUM: -3% AP2 sells 13.2M shares @ SEK126 per share.
*CNE: 0% Mexico license win.
*EDF: 0% fire at Bugey nuclear plant extinguished.
*FPM: +1% trading update, operations in line, cash beat, FY'17 guidance unch.
*GLEN: 0% Harris Associates has gone above 5% holding.
*IWG: -5% CEO Dixon sold 27M shares @ 345p, still holds 25%.
*KERING: +1% well-attended CMD yesterday positive on YSL.
*NOVARTIS: +1% RTH258 met endpoints in late-stage trials.
*ORANGE: 0% sells 133M BT/ shares @ 288p.
*SERCO: +1% £1.5B contract win to operate Oz largest prison over 20 years.
*SHAWBROOK: 0% Marlin Bidco says offer extended to July 10th.
*TLW: 0% board changes, CFO to resign due to ill-health.
*WOLSELY: -2% Q3 numbers mixed, margin light, UK restructuring on track.
Investec:
UK
* ASSURA-9.9% placing (164m shs) via ABB, to fund near term pipeline.......-2-3%
* BT-Orange sells 133m shs @ 288Pp,BT buys 69m for EBT.(closed 289.7p).......-1%
* CAIRN ENERGY-Secures interest in 2 licenses in Mexico.....................unch
* FAROE PETROL.-Update. Production sml beat. rest reads in line..............+1%
* GLENCORE-Harris Associates holding now through 5%.........................+½%
* INTERSERVE-Wins £265m (2yrs) contract with UK Armed forces.................+2%
* IWG-Mark Dixon sells another 27.3m shs(345.1p)Recent bid spec..............-5%
* N BROWN-Update.Rev +10.2%.Trading on track.Closing 5 loss making stores....+1%
* RWS HDG-Update.Strong current trading.Recent LUZ acq's performing well.....+2%
* SERCO-Signs £1.5bn (20 yr) contract with NGCC in NSW (Aus)................+1%
* TULLOW OIL-CFO resigns due to recent ill health...........................unch
* ULTRA ELEC-Wins $18m surveillance contract................................+½%
* WOLSELEY-Q3.Trading in line,US looks strong.Reits FY g'ance.(+2.5% yday)..unch
EU
* ALTICE-to carry out US ipo pricing on Weds (Echos).........................U/C
* FORTUM-Hafslund rejects offer,signicicantly u/values co. Fortum owns 36%..+2%
* KERING- YSL brand sees €2bn annual sales in medium term....................+1%
* NOVARTIS-reports positive results from new eye drug trials...............+0.5%
* ORANGE-sells 133m BT shares (1/3 holding),also issues CB into BT shares....+2%
* THYSSEN-interview w/CEO, elevators doing well in US, China firmer..........+1%
* VIVENDI-said to appeal regulator ruling on TIT and MEDIASET stakes(FT).....U/C
Numis:
* ACCSYS TECHNOLOGY +1%: FY numbers slightly ahead EBIT loss -E3.9m (NSe -E5.1m). Tricoya expansion project on track for completion end of CY17.
* CAIRN ENERGY: mkt, Secures 2 new licences in Gulf of Mexico.
* FAROE PETROLEUM: +1%, AGM statement shows strong prod averaging 15,100 beopd and cash increased to £113.8m
* IWG -3% CEO Dixon sold 27.3m shares @ 345.1p (Closed 359.5p)
* MORSES CLUB mkt trading update all in line
* RWS +1-2% Small Headline beat, EPS forecasts up 2-3%, shares have performed well – we go to HOLD fm ADD tgt 375p
* SERCO +2% Signs £1.5bn Aussie Prison contract – over 20 years – They were announced preferred bidder in March but up on the headline
* SHAWBROOK Marlin Bidco offer declared unconditional
* TULLOW OIL: mtk, CFO Ian Springett takes extended leave to undergo medical treatment.
* WOLSELEY -1%: Q3 numbers, revs in line EBIT slighlty below our f/cs at £254m (NSe £275m). Main driver US lfl +8.5% (+6.7% in Q2) FY viewed in-line.