RBC PRE-MKT INDICATIONS:
*AUTOS: -1% TOYOTA (-2.26%) post weak earnings, GEELY (-3.61%).
*BELLWAY: +1% trading update, H1 housing completions +6.5%, FY volume growth 5%.
*BNP: -1% Q4 net miss, CET1 ratio in line, IB better, French retail banking weak.
*BP: -3% Q4 net income $400M v $567.7M cons, Macondo '17 payment guid higher.
*CAIXABANK: -2% placing of CRITERIA CIXA 5.3% stake @ €3.36 per share.
*FIRSTGROUP: 0% Q3 trading in line, FY outlook confirmed.
*GEA GROUP: +2% Q4 orders 3% ahead, op results broadly in line, outlook in line.
*HANNOVER RUE: +2% '16 net income beat €1.17B v €1.07B consensus.
*HMB: +1% positive read from GAP (+2.36%) after hours on better sales data.
*MUNICH RE: +1% Q4 preliminary earnings miss €0.5B v €0.625B consensus, div ahead.
*NESTE: +1% Q4 rev beat €3.42B v €3.02B consensus, dividend ahead.
*PANDORA: -2% Q4 sales in line, Q1 cautious, FY'17 guidance conservative.
*RENTOKIL: +1% acquired ALLGOOD PEST in US, $26M revs.
*SHANKS GROUP: 0% Q3 trading in line with H1, Commercial Division performed well.
*SPEEDY HIRE: +2% Q4 group LFL +10.6%, recovery plan on track, upgrading FY guidance.
*STATOIL: -3% Q4 results miss, lower production & higher exploration write-offs.
*TALANX: +2% FY net income ahead €900M v FY'15 €734M, dividend ahead.
ML calls
ST MODWEN - EPRA NAV +3.2% v +2.1% from May. Strong perf in resi biz (338)..+5%
FIRSTGROUP - Beats across the group. CEO expects good progress for yr (107).+3%
DCC - Q3 op profit strongly ahead of '16. Making an acq in Norway (6550)....+3%
GEA - Q4 3% miss but solid guide & buyback likely to support stock (38)...+2-3%
NESTE - 4Q rev EU3.42b v est EU3.02b, adj net EU228m v EU197m est (33.56)...+2%
RENTOKIL - Announce a small acqusition of Allgood Pest Solutions (236.1)....+2%
KLEPIERRE - Net current cash flow per shr +6.8%, ahead of guidance (35.4)...+1%
BELLWAY - Completions up 6.5% to 4,462, with a margin of 'around 22%' (2540)+1%
HANNOVER RE - Surprise positive pre-announcement. NI €1.17bn v €950m (103)..+1%
MINERS - Copper u/c, Iron Ore fut +3% with BHP OZ +0.19%, RIO OZ +0.4%....+0.5%
PLAYTECH - Buys Eyecon for Total Consideration of GBP50m. Small +ve (880).+0.5%
UBS - We UPGRADE to Neutral, taking our PO to CHF 17. Sector weak (15.82)...u/c
MUNICH RE - Modest miss with v high Q4 combined ratio will weigh (173.2)..-1-2%
STATOIL - Mixed. EBIT weak on intl. Cashflow also looks light to us (153.7).-2%
BP - Miss on NI, $400m v $570m. Expect higher prodn YoY for '17 (464)....-2-3%
BNP - Revs & capital inline but big (21%) miss in domestic retail (58.2)....-3%
PANDORA - Inline. LFL stable but FY guidance more conservative v cons (845).-4%
CS
AMS -1-2% Q4 in line, Q1 guidance disappointing
Bellway +2% Customer demand continues to be robust, help to buy
strong
BNP -1-2% Net EU1.44B est EU1.63B, div slightly light
BP -1-2% Bottom Line $400m vs street at $540m, downstream weak
Cramo -3% 4Q sales EU192.9m vs est. EU197.5m
Daimler +0.5% China Heavy Duty truck sales jumped +122% y/y
Daetwyler -1% FY16 EBIT 1% light, net profit impacted by one off
DCC +1-2% Trading inline with expectations
First Grp M/P North America benefitting from fx, FY unchanged
Fiat M/P Investigation results sent to the Paris prosecutor
Gea Group +2-3% 3% beat on orders, buyback for as much as Eu450m
Hannover Re +1% Net profit 1.17bn cons at 1.1bn, raised guidance last
week
Klepierre +1-2% Scandinavia and Spain better, net cash better
Miners UNCH Copper -0.20%, Brent -0.60%, Iron Ore +3.40%, China
-0.40%
Munich Re -1-2% Q4 Net at 500m cons 600m, Op profit 800m cons 918m
Neste M/P 4q Op profit 262mln cons 265mln
Oerlikon M/P Investing CHf55m in a new US production centre
Pandora +3% FY16 EBITDA DK7.92bn vs cons DK7.90bn, guidance fine
Playtech M/P Acquisition of Eyecon for £50m
Plus500 M/P Revs slightly ahead $327.9m vs cons $323.54
Rentokil M/P Acquisition - Allgood Services of Georgia
Sanoma -1-2% Q4 numbers inline BUT DIVIDEND SLIGHTLY LIGHT
Statoil -2-3% Bottom line 1664m vs 1869 cons, capex guidance higher
UK Hbuilders +1-2% Government pledging to fix Britain's broken housing
market
Volvo +0.5% China Heavy Duty truck sales jumped +122% y/y
Volkswagen +0.5% China Heavy Duty truck sales jumped +122% y/y
MF
*BNP-Q4 Net 1.55b(1.63),Lifts Divi to €2.7,pledges higher p/out..........-2%
*HANNOVER RE-2016 Ebit 1.69b(1.601),Net 1.17b,Gross Prem 16.4b...........+1%
*AMS-FY Sales 549.9m(547.2),Ebit 97.1m(95.9),NP 102.9m(93.4),o/lk poor...-1%
*PRISA-Blackstone interested in Prisa's Santillana - El Conf'd...........+0.5%
*STATOIL-Net -$40m(618),Divi 22c(22),Adj Operating Pft $1.66b............-2%
*DEUT TELEKOM-Seeks to divest its Romanian Unit(9m t/o €718m)............-0.5%
*GAS NATS-To run strategic review of Italian Assets woth €700m...........+0.25%
*METRO-Shareholders agree to split as CEO promises faster action.........-2%
*GEA-Q4 Ord Intake 1.223b(1.17).Sales 1.293b(1.31),Ebitda 214m(196)......+2%
*MUNICH RE-NI 500m(630),OP 800m(927.6),Gross Prems 12.1b(12.22)..........-1%
*PANDORA-FY16 Rev 20.3b(20.3),Ebitda 7.92b(7.9),Divi 9,B/B 1.8b..........+2%
*TALANX-Sees '17 Net around 800m(845),FY Net above 900m(857).............+1.5%
*DAETWYLER-FY Ebit 146m(147.7),NP 57.6m(74.3),FY17 Margin 11-14%(13.8)...+1%
*JENOPTIK-Rev 685m(691),Ebit 68m(66),Margin <10%(9.6),o/lk better........+1%
*KLEPIERRE-FY Net current cash flow €2.31,Divi 1.82......................+1%