ML
DEBENHAMS - Q1 LFL sales +1.9% v -0.1% est, 1-2% cons u/gs, stock on 8x..+10%
UK MAIL - Solid performance in peak Xmas period, enough given weakness....+4%
MORRISONS - 9wk LFL ex-fuel +0.2% v -2% est, +ve comments on net debt...+3-4%
SIKA - Sales in line, increases longer term targets, all solid............+2%
BRUNELLO - Solid, revs a 2% beat, guides to DD growth in 2016 v 10.5% MLe.+2%
BIG YELLOW - good progress on occupancy and rent psf YoY................+1-2%
EDENRED - To form venture w/ Embratec in expense mgmt, 2% accretive in 16.+1%
AO WORLD - Trading in line with prior views, should see relief............+1%
SAP - Stronger revs in Q4 (5.6% beat) & guidance but margins light........+1%
GPOR - Strong lettings in 9 months YTD, and interest continues to build...+1%
GREGGS - Total sales +5.2%, FY expected to be in line w prev expectations.+1%
DIRECT LINE - Numbers re impact from strike in line, should see relief....+1%
RENTOKIL - Q4 in line with expectations, reassurance strategy on track....u/c
METRO - Q1 org topline +0.1% v +0.8% est,reits FY tgts but Q1 = 60% of FY.u/c
JUST EAT - Short order update, LFL 46% which is -1% on the quarter........u/c
CAP GEMINI - To record one off non-cash profit of EUR 520m in 2015........u/c
SCHAEFFLER - Press spec owners open to additional stock sales.............u/c
ASML - We roll over onto Europe 1, extending term by another 12m..........u/c
SAGA - Supportive IMS, tax gain and possible release of capital...........u/c
FERROVIAL - Wins EUR 324m high speed railway contract in California.......u/c
SHIRE - Weakness persisted slightly post US close, parity 3877p vs 3925p-0.5%
AIRBUS - Press says to deliver 45 A350s in 2016, may disappoint...........-1%
PETROFAC - news from Ithaca points to 6-12 wk delays at Greater Stella....-1%
HAYS - -ve read from very weak MPI LN Q4, HAS report tomorrow...........-1-2%
M. PAGE - Org growth 5.3% v 10.2% exp, extrapolate 16 implies 5-10% d/gs..-4%
CS
Airbus +1% Delivered 14 A350s in 2015 Vs Target 15, La Tribune
AO World +2% UK business continued to grow, strong Black Friday
Autos -1% China Auto Sales 18% yoy for Dec, CS was on 20-21%
Cap Gem +1% Amendment to accounting
Cineworld +1% Anticipates 2015 profitability inline
Big Yellow +1-2% LFL revenue growth of 10%, earnings guidance inline
BMW -1-2% Biggest exposed to China, negative China autos sales
Brunello +1-2% Released last night, positive outlook for 2016
Bureau Ver +1% CS upgrade to OUTPERFORM (Trading at 13% discount)
Debenhams +5-10% 19-week LFL sales +1.9% vs est -0.1%
Direct Line +1-2% Update on 15 weather events, losses slightly less
Edenred +1% Combine their Expense Management assets in a joint-venture
Grafton UNCH Conditions were broadly positive, maintains guidance
Greggs M/P FY results inline with market expectations
Just Eat +1-2% FY total orders +57% and 46% on LFL basis
Ladbrokes +1% CS upgrade to NEUTRAL (Cost synergies)
Mcbride +2-3% Reads well, H1 trading will show further progress
Metro +1% Q1 sales EU 17.1b est EU 17.1b, confirms forecasts
Michael Page -5% Q4 135.6m cons 142m, growth 5.3% v cons 10%
Miners -1% Copper -0.35%, Brent -3.85%, Iron Ore -1.80%, China +1.02%
Morrison +5-7% LFL sales better, net debt guidance raised
Oils -1-2% Oil hit hard overnight, -3.85%, heading towards $30/barrel
Peugeot UNCH FY Global sales 2.973m vs CSe 2.921m
Rentokil M/P Announced a series of acquisitions
Rockwool +2-3% Sees upward adjustment of 2015 EBIT
SAP +1-2% Preannounced Q4, software rev's better E5.38b; est. E5.13b
SGS +1% CS upgrade to OUTPERFORM (Margin Opportunity)
Sika +1% Q4 earnings inline, expects EBIT margin of 12-14%, was >10%
Shire -1% ADR 1% weaker overnight, expect to see that in Europe
Will Hill +1% CS upgrade to OUTPERFORM (Balance sheet + cash return)
MF
*AIRBUS-Delivered 14 A350's tgt 15,Zodiac supply issues.Press......-0.5%
*SAP-Rev 6.35b(6.04),OP 2.28b(2.26),Cloud Rev 5.38b(5.13)..........+1%
*PORSCHE-Predicts slower 2016 sales growth after Macan boost.......U/C
*VW-CEO says €6.7b provs for recalls will cover all costs..........+0.5%
*CBK-To shrink Financial Institutions Unit: Handelsblatt...........-0.5%
*SIKA-FY Sales grth CHF5.49B(5.47),co lifts 2018 targets...........+1.8%
*EDENRED-Accelerates development in exp mgmt,jv with Embratec......+0.5%
*METRO-Sales 17.1b(17.1),confirms 2015/16 f/casts,Christmas good...+1%
*TECHNIP-Agrees to buy minority stake in Vallourec's Serimax.......U/C
*CAPGEM-To record estimated €520m Non-Cash income in 2015..........+1%
*CROPENERGIES-Sales 558m,OP 63m,FY o/l +ve at Ebitda & OP level....+1%
*CONTI-no plans for major acq'S in '16,no hope for Brazil rebound..-0.75%
*CUCINELLI-2015 Rev €414m,spring/summer collection +ve,si 17%......+2%
*BOSSARD-FY Sales 656.3(648),Asia bizz looks good,China flat.......U/C
*SUEDZUCKER-Read across from Cropenergies owns 68.7%...............+0.5%
*SAP-Rev 6.35b(6.04),OP 2.28b(2.26),Cloud Rev 5.38b(5.13)..........+1%
*PORSCHE-Predicts slower 2016 sales growth after Macan boost.......U/C
*VW-CEO says €6.7b provs for recalls will cover all costs..........+0.5%
*CBK-To shrink Financial Institutions Unit: Handelsblatt...........-0.5%
*SIKA-FY Sales grth CHF5.49B(5.47),co lifts 2018 targets...........+1.8%
*EDENRED-Accelerates development in exp mgmt,jv with Embratec......+0.5%
*METRO-Sales 17.1b(17.1),confirms 2015/16 f/casts,Christmas good...+1%
*TECHNIP-Agrees to buy minority stake in Vallourec's Serimax.......U/C
*CAPGEM-To record estimated €520m Non-Cash income in 2015..........+1%
*CROPENERGIES-Sales 558m,OP 63m,FY o/l +ve at Ebitda & OP level....+1%
*CONTI-no plans for major acq'S in '16,no hope for Brazil rebound..-0.75%
*CUCINELLI-2015 Rev €414m,spring/summer collection +ve,si 17%......+2%
*BOSSARD-FY Sales 656.3(648),Asia bizz looks good,China flat.......U/C
*SUEDZUCKER-Read across from Cropenergies owns 68.7%...............+0.5%