ML
STAN CHART - Barclays said to explore a potential merger with them (798)..+3-5%
BRITVIC - Revs 2% ahead, EBITDA GBP80.5m with margin at 11% v BAML 9.3%(774)+2%
BARCLAYS - Said to explore a potential merger with StanChart; FT report(215)+2%
GREAT PORTLAND - 845p NAV is +5.8%, underlying valuations are +2.9% (689.8).+2%
BAER - Better than exp with AuM 1% ahead & net inflows of 5-6% ahead too(64)+2%
MONDI - +ve read. Burgo & Lecta both to increase CWF and UWF prices (2086)+0.5%
SEVERN TRENT - Inline. U/lying EPS 2% ahead of cons / PBIT is inline(2070)+0.5%
IGG - Trading update looks in line ahead of capital markets day today (885).u/c
BOVIS - Trading update looks fine. No new news on anything unexpected (1291)u/c
SAGE - Competitor Intu printed strong FQ3 results and guided up FQ4 (678.8).u/c
MINERS - Copper -0.7%, Iron Ore fut -1% with BHP OZ +0.4% & RIO OZ +0.14%...-1%
RIO - Spec that Rio is ready to accept a $3.5bn Grasberg exit deal (4370.9).-1%
WPP - Sentiment -ve. Loses $400m HSBC media duties to PHD (Omnicom) (1332.8)-2%
MARKS & SPENCER - Pretax profit ok but margins weak and clothing poor(291)-2-3%
MS
COMPANY INDICATION COMMENT
BAER SW UNCH IMS SHOWS GROWTH TRENDS CONTINUE & DELIVERY ON COSTS - CET1 LIGHT @ 13.3% -20BPS (QoQ)
BARC LN +2% SAID TO BE EXPLORING POTENTIAL MERGER WITH STAN.CHART (CS, DBK & DBS ALSO MENTIONED)
BVIC LN +1% REVS +4.5%, STRONG GROWTH IN Q2. TOO EARLY TO ASSESS IMPACT OF SOFT DRINK TAX LEVY
MKS LN +5% WILL SQUEEZE TODAY WITH 17% SHORT BASE AS COMPANY MAINTAINS FY GUIDANCE & DIVIDEND
PFV GY +1% FY18 OUTLOOK SLIGHTLY POSITIVE
STAN LN +3% SAID TO BE EXPLORING POTENTIAL MERGER WITH BARCLAYS
SVT LN UNCH SMALL EPS BEAT, DIVI IN LINE, £100m FURTHER COST SAVINGS TO BE RE-INVESTED
RBC
*BABCOCK: -1% FY'18 results in line, outlook measured.
*BARCLAYS: -1% FT: Looking at potential mergers with banks including STAN.
*BOVIS HOMES: 0% trading in line, continues to see good demand for new homes.
*BRITVIC: +2% H1 results in line to touch better, FY'18 outlook in line, strong into.
*FAROE PETROLEUM: 0% commits to Brasse East Well in North Sea.
*JULIUS BAYER: +1% 4-month interim in line to touch better, AUM ahead.
*M&S: +1% FY results headline better on PBT, Food light but margin better.
*RIO TINTO: -1% confirmed in talks with Indonesia, $3.5B the figure cited.
*SEVERN TRENT: 0% FY'18 EPS ahead, numbers in line.
*STANDARD CHARTERED: +2% FT: Looking at potential mergers with banks including STAN.
*WPP: -1% WSJ: OMNICOM said to win HSBC Global Media buying account.
*ZPG: +1% H1 earnings touch better, higher revenue growth
Macq Indications:
* Barclays- Said to be exploring merger with Standard Chartered (FT). +3%
* Bovis- Solid trading update; cash return inline. Unch
* Britvic- Rev’s up 4.5%, Strong growth in Q2. Too early to assess impact of soft drink tax levy. +1%
* Great Portland- EPRA NAV up 5.8% to 845p, confident outlook. Unch
* IG Group- Reassuring trading update, FY net Rev expected c.£565m (v sml beat), stock has travelled well into this update. Unch
* M&S- 4Q LFL clothing-and-home unit sales -3.4% (cons. -1.3%); 4Q -0.6% LFL food sales (cons. +1%); FY underlying pretax profit £580.9m (cons. GBP568m). -3%
* Miners- Oil -1.7% from our close yesterday, taking all commod’s lower. -1%
* Rio’s- Press reports suggesting a potential sale of Grasberg to PT Indonesia Asahan Aluminium for US$3.5bn. AU Line unch vs our close.
* Severn Trent- Good results. beat at operating profit and EPS level, RORE up to 11.5% real, and ODIs are a big beat - now at 2.3%. Unch
* Softcat- Strong trading update; Will deliver FY results above expectations. +5%
* Stan Chartered- Said to be exploring merger with Barclays. (FT). +3%
* Wood Group- Wins Biotech Facility contract until 2020. +0.5%
* WPP- HSBC has moved its global media account to Omnicom from flagging WPP, following a review. -1-2%
* Zalando- No1 shareholder Kinnevik says Zalando core name for them, AGM Today. +1%
CS
Babcock +1% Revs 5.36bln cons 5.37bln PBT 512.5mln cons 5104.3mln
Barclays -1-2% Barclays has explored potential merger of Stan Char, FT
Bovis M/P Market conditions remain robust, on track to deliver
Britvic +1-2% 1H revs 733.2mln vs cons 721.4mln EPS 21.2p vs cons 19.3p
Cosmo -25% Receives CRL from FDA regarding Methylene Blue MMX NDA
IG Group M/P Trading update ahead of CMD inline
Julius Baer +1-2% IMS - AUM CHF401bn cons CHF399bn, gross margin ahead
Lem Holding +1% FY17 Turnover 1% ahead, FY EBIT 1% ahead, outlook inline
M&S +1-2% PBT beat, margin guidance better
Miners -0.5% Copper -0.55%, Brent -1.60%, Iron Ore -1.10%, China -0.80%
Mittal -0.5% Trump Is Targeting 10% Cut in EU Steel, Aluminum Exports
Oils -1% US API -1.3m barrels vs est -2.8m. Brent 1.6% to $79.05
Rio M/P Ready to accept a $3.5 billion deal with Indonesia
Severn Trent +0.5% FY revs GBP1.69B est GBP1.73B, Op profit inline
Softcat +2-3% Strong update - Maintained the momentum
SSAB -0.5% Trump Is Targeting 10% Cut in EU Steel, Aluminum Exports
Stan Char +4-5% Barclays has explored a potential merger, FT
Thyssen -0.5% Trump Is Targeting 10% Cut in EU Steel, Aluminum Exports
UBS +0.5% Positive read from Julius Baer numbers
Vedanta -0.5% Numbers inline with previous report
WPP -1% HSBC moves Global Media account to Omnicom's PHD, WSJ