BofAML EMEA Indications
VOLVO - Very strong with EBIT 16% ahead, truck orders a 13% beat (121.3).+7-10%
SANDVIK - Very strong. 2% sales beat & 11% EBIT beat. Short int: 5% (122).+3-4%
SIEMENS - Raising guidance by 6-7% at EPS & 50bps at margin level (120.8)...+3%
FERRAGAMO - Strong. Sales +1% cFX v -2.5% cons due to China and US (25.2)...+3%
LOW & BONAR - Reads well. V much a niche biz now with £230m mkt cap (71)..+2-3%
CENTAMIN - FY16 fins beat on lower costs, div surprises to upside (161)...+2-3%
TALK TALK - Short term impact on Q3 net perf as exp.Harding steps down (160)+2%
BBVA - High quality beat with 4Q net EU678m vs est of EU520m (6.4)..........+2%
MICHELIN - Michelin North Am announces broad price increases of +8% (101).+1-2%
KPN - Revs 0.3% below & EBITDA 1.2% beat.Sees EBITDA inline with '16 (2.7)+1-2%
SEB - 1% NII beat. Strong quarter to support continued re-rating (99.25)....+1%
SKF - Positive read across from Siemens, Volvo & Paccar o/n & today (178)...+1%
MINERS - Copper +0.2%,IO closed,Gold -0.4%; BHP OZ +1.65%,RIO OZ +0.54%...+0.5%
DIPLOMA - CMD is today. No trading statement out along with it (1020).....+0.5%
DIXONS - Non impacting. Sir Charles Dunstone stepping down as Chairman (316)u/c
LUNDIN - Inline with EBITDA US$318mn v US$307mn. No new guidance (188.6)...u/c
MONDI - CEO retires and current CEO Europe & Intl biz takes over (1751) ....u/c
AKZO - Negative. Huntsman has had a fire at a TIO2 plant Pori Pori (62.1)...-1%
ROCHE - H2 sales flat v cons, op profit -2.4% & EPS -2% v cons (230.67).....-1%
NESTE - We reinstate with an Underperform rating & a PO of EUR 27 (31.9)....-1%
ELUX - 4% EBIT miss & more or less unch outlook will read negatively (228)..-2%
MF
*ROCHE-FY Sales 50.6b(50.7),Div 8.2(8.5),2017 Sales Low-To-MSD.........-0.25%
*SIEMENS-2017 EPS Raised to 7.2-7.7(6.8-7.2),Margins Raised............+4%
*SEB-NI 4.24b(4.1),NII 4.8b(4.74),Fee Inc 4.61b(4.34),Prov down........+2%
*KPN-Q4 Rev 1.7b(1.7),Ebitda 606m(596),Sees '17 Ebitda flat............U/C
*BBVA-Q4 Net 678m(520),Div 13c,CET1 Fully Loaded 10.9%.................+2%
*FERRAGAMO-FY Sales 1.44b(1.42),Asia Pac,NA & Europe all good..........+2%
*BOUYGUES-Cellnex to buy 3,000 Towers for €800m says Expansion.........+0.5%
*VOLVO-Sales 82.6b(78),FY Div 3.25(3),Order intake +10%................+4%
*LONZA-ABB of 5m shares,priced at 173,raising CHF865m..................-2%
*AXEL SPRINGER-ABB 1.84m shares,priced at 47.65,oversubscribed.........-2%
*BAER-FY Op Inc 2.85b(2.79),Pft 706m(675),AuM 336b(222),Div 1.2........+1.5%
*TRELLEBORG-OP 841m(881.9),Net Sales 7.43b(7.46),Rev Grth -4%..........-0.5%
*SILTRONIC-Q4 Prelim Rev 246m(232.4),Ebitda 50m(37.7),Margin better....+2%
*WACKER CHEMIE-Q4 Sales 1.35b(1.4),Ebitda 270m(237),Margin 20%(16.9)...-0.4%
*SUEDZUCKER-Offers 1.32m shares in Agrana at €100 vs cls €119.3........U/C
*ELECTROLUX-Q4 OP 1.62b(1.75),Sales 32.1b(33.3),Div 7.5,ORG -3%........-1%
*SANDVIK-Q4 Rev 21.8b(21.3),OP 3.28b(3.04),Orders 22b(20.4),Div 2.75...+2%
*EDF-To cut more jobs than planned to 2019 says Le Figaro..............+1%
CS
AMS +1-2% Positive read from Apple numbers, +2.5% post market
BBVA +1-2% 4Q net EU678M est EU520M, capital down 10bps to 10.9%
Cellnex +3% Agreement with Bouygues for 3,000 Towers
Daimler +1-2% Positive read from Volvo numbers
Dialog Semi +1-2% Positive read from Apple numbers, +2.5% post market
Electrolux -3-4% Q4 net sales 4% miss, op profit 7.5% miss
Ferragamo +2-3% 2016 sales 1% beat, retail sales inline, wholesale better
Imagine Tech +1-2% Positive read from Apple numbers, +2.5% post market
Julius Baer +2% adjusted net profit 2% ahead, AUM increased to CHF336bn
KPN +1% 4Q Adj. EBITDA beats ests, revenue matches views
Lundin +1-2% Revs 385.9m cons 380.4m, continue to see prod increasing
Miners +0.5% Copper +0.30%, Brent -1.60%, Iron Ore CLOSED, China CLOSED
Novozymes +2-3% CS DOUBLE UPGRADE to OUTPERFORM (Risk reward)
Rieter -2% FY Revenue 0.5% ahead, order intake 5% light
Roche UNCH FY Sales CHF 50.6bln est CHF 50.7bln
Sandvik +4% 8% op profit beat, SMS orders return to growth
SEB +2-3% Head-line profit beat consensus by 6%, trading driven
Siemens +4-5% Lifts FY outlook on solid Q1, driven by Renewables/Digital
Siltronic +3-5% Q4 sales 7.5% ahead, EBITDA 25% ahead
Swedbank -2% Negative article discuss ING potential fine of SEK4bn
Talktalk +7-10% Reiterated FY EBITDA range, CEO to step down
Trelleborg -1% Q4 sales SK7.43b vs cons SK7.46b
Volvo +7-10% Q4 net sales 6% beat, Q4 orders 13% beat
Volkswagen +1-2% Positive read from Volvo numbers
Wacker Chem UNCH Q4 clean EBITDA inline. 257m CSe 260m
Shore
AG BARR - H2 strengthened,LfL's seen +1.5%,margins in line,to meet FY expec.+1%
TALKTALK - Reiterating strong Ebitda growth.Short term hit on Q3 as expec...-1%
32RED - Yr net gaming rev+28%.Strong current trading +21%...................+2%
TELFORD - Buys building on Cambridge Heath road for 30.2m...................+2%
LOW&BONAR - Fy rev 400m.Div +7.9%.Confident business outlook................+1%
CENTAMIN - FY production above revised guidance.............................+3%
EPWIN - grp profits in line,strong cash generation,input costs rising.......-1%
MENZIES - reaches agreement with the CMA completes acquisition of ASIG....+0.5%
ZOOPLA - issues 20.9m shares (5% share capital) at 365p.....................MKT
PHARMA - Trump pledges to cut length of time for regulatory approval........+2%