ML
* SAIPEM - Rights terms out, 22 new for every old at EUR 0.362...............
BMPS - Co says do not need cap increase, bringing forward numbers.....+10-15%
TODS - Q4 sales 6% ahead on wholesale expansion, SSSG -6%, 13% short base.+5%
SPANISH BANKS - Spec Abengoa to accepts EUR 160m credit facility..........+3%
OXFORD INSTS - Still expects to meet FY guide, very low expectations....+3-4%
EIFFAGE - Solid Q4 traffic stats, Q4 vols +2.9% v +2% est.................+3%
DELHAIZE - As per Ahold, US LFL in line, underlying solid, FY EBIT ahead..+3%
SPECTRIS - Positive read from Oxford instruments, missed yday's rally...+2-3%
GAMESA - Norges discloses 3% stake, becomes 2nd largest holder, Expansion.+2%
SANDVIK - New CFO announces, ex-ELUX, 10% short interest..................+2%
WORKSPACE - rental growth +2.3% in the quarter (total and LfL), solid..+1-2%
CLOSE BROS - Mkt conditions tough but remains confident in FY...........+1-2%
SAP - Margin weakness a one off but FCF a 14% miss, guidance 2-3% ahead.+1-2%
HAMMERSON - To buy Birmingham shopping centre for £335m, expected.........+1%
ELECTROLUX - CFO leaves for SANDVIK, to remain with co for 6 months.......u/c
ABERTIS - Buys rest of Chilean highway Autopista Central for $1.03bn......-1%
PHILIPS - Go Scale capital terminates Lumileds talks, in talks w others...-2%
BILLERUD - Production disruptions in Q4 of approx. SEK 245m, big miss.....-4%
CS
Abertis +2% To pay E948m to buy the remaining 50% of Autopista Central
Basilea M/P Says GlaxoSmithKline Halts U.S. Alitretinoin Program
Close Bro's M/P Banking division positive, outlook cautious
Computercen M/P Numbers inline with the Board's expectations for 2015
Coltene +3% CS double upgrade to OUTPERFORM (Risk/reward improved)
Daetwyler +1-2% FY revs 1% light, FY EBIT margin inline
Delhaize +1% Q4 revs E6.32b vs. E6.30b, confident of maintaining sales
Electrolux -2% CFO leaves to join Sandvik
Hammerson M/P Exchanged contract to acquire Grand Central shopping centre
Interrol +2% New orders rose to a record of 385.1mln, EBITDA 7% beat
Miners +2% Copper +0.85%, Brent +7.4%, Iron Ore +0.15%, China +1.30%
Oils +3% Oil on the move and back above $30. WTI +5% and Brent +6.5%
Oxford Inst M/P Growing order book, confident on meeting FY expectations
Philips -3-4% Lumileds Sale terminated due to U.S. regulator
Safran +2% French army order wrth EUR350m - Le Monde
Sandvik +3-4% CFO leaves from Electrolux to join Sandvik
SAP +2-3% Raises rev,operating profit forecast for next year
Tods +3% 4Q sales 8% above mkt expectations, short interest is 17%
Workspace +1% Total rent roll up 2.3% in 3Q, up 16.4% in 9M from March 31
Investec
UK
* CLOSE BROS-Update.In line, but market remains difficult..................unch
* COMPUTACENTER-PreClose.In line despite £3m FX headwind.Cash ahead.........+2%
* HAMMERSON-To Buy Grand Central SC (brimingham) for £335m..................+1%
* OXFORD INSTRU.-Nao Tech ahead, Industrial weak. Overall in line..........+1/2%
* WORKSPACE-Q3. Good levels of rent continue. Well positioned...............+2%
* WPP-Acquires Conrad Caine (Germany)......................................+1/2%
Euro
* AIRBUS-may u/perform on -ve read from Boeing results/outlook last night...U/C
* CASINO-tycoons compete for SE Asia assets(Vietnam unit $800m,Thai >$3bn)..+2%
* CTT-to increase prices by 1.3% from 1st Feb. We think this is low end.....U/C
* DELHAIZE-Q4 rev small ahead,Belgium lfl sales strong,op prof €870m(€861m).+2%
* ELUX-CFO resigns, foillows CEO departure. Can’t be big surprise...........+1%
* FINMECCANICA-CEO speaking at event in Rome, reassuring comments...........+2%
* PHILIPS-Lumileds jv sale tlks terminated due to lack of US approval.......-3%
* SAFRAN-said to get order for 14 drones from Govt(Monde). Broker u/g away..+2%
* SAP-already pre announced, raises 2017 op prof guidance by around 3%......+3%
* TODS-Q4 sales €250m(€232m),w/sale sales ahead,retail worse,u/grade away...+3%
UK
* CLOSE BROS-Update.In line, but market remains difficult..................unch
* COMPUTACENTER-PreClose.In line despite £3m FX headwind.Cash ahead.........+2%
* HAMMERSON-To Buy Grand Central SC (brimingham) for £335m..................+1%
* OXFORD INSTRU.-Nao Tech ahead, Industrial weak. Overall in line..........+1/2%
* WORKSPACE-Q3. Good levels of rent continue. Well positioned...............+2%
* WPP-Acquires Conrad Caine (Germany)......................................+1/2%
Euro
* AIRBUS-may u/perform on -ve read from Boeing results/outlook last night...U/C
* CASINO-tycoons compete for SE Asia assets(Vietnam unit $800m,Thai >$3bn)..+2%
* CTT-to increase prices by 1.3% from 1st Feb. We think this is low end.....U/C
* DELHAIZE-Q4 rev small ahead,Belgium lfl sales strong,op prof €870m(€861m).+2%
* ELUX-CFO resigns, foillows CEO departure. Can’t be big surprise...........+1%
* FINMECCANICA-CEO speaking at event in Rome, reassuring comments...........+2%
* PHILIPS-Lumileds jv sale tlks terminated due to lack of US approval.......-3%
* SAFRAN-said to get order for 14 drones from Govt(Monde). Broker u/g away..+2%
* SAP-already pre announced, raises 2017 op prof guidance by around 3%......+3%
* TODS-Q4 sales €250m(€232m),w/sale sales ahead,retail worse,u/grade away...+3%
Shore Calls
CLOSE BROS - loan book +4.9%,Wins finding it tough,AuM reduced to £9.4%.....-2%
RECORD - AuM +0.4% £53.5m,saw some negative hedging on the Aussie $.........-1%
CRANEWARE - continues to perform strongly,sales +15%,EBITDA +10%,gd outlook.+2%
OXFORD INST. - mixed bag,trading inline,NanoTech ok,industrials difficult...-1%
WORKSPACE - rent roll +2.3%,LfL +2.3%,uptick in occupancy...................+1%
COMPUTACENTER - sees PBT inline despite ccy hit of £3m,gd european growth..UNCH
HAMMERSON - To buy Birmingham shopping Centre for 335m......................+1%
WPP - Possible acquisition of Conrad Caine in Germany.......................+1%
CHARACTER GRP - solid Christmas,sales +6%,on track to meet mkt expec........+2%
MARKET TECH - joins main mkt 27/1,not raising funds on admission............+1%
RBS/LLOYDS - Osborne to shelve sell-off before budget on mkt downturn......UNCH
CLOSE BROS - loan book +4.9%,Wins finding it tough,AuM reduced to £9.4%.....-2%
RECORD - AuM +0.4% £53.5m,saw some negative hedging on the Aussie $.........-1%
CRANEWARE - continues to perform strongly,sales +15%,EBITDA +10%,gd outlook.+2%
OXFORD INST. - mixed bag,trading inline,NanoTech ok,industrials difficult...-1%
WORKSPACE - rent roll +2.3%,LfL +2.3%,uptick in occupancy...................+1%
COMPUTACENTER - sees PBT inline despite ccy hit of £3m,gd european growth..UNCH
HAMMERSON - To buy Birmingham shopping Centre for 335m......................+1%
WPP - Possible acquisition of Conrad Caine in Germany.......................+1%
CHARACTER GRP - solid Christmas,sales +6%,on track to meet mkt expec........+2%
MARKET TECH - joins main mkt 27/1,not raising funds on admission............+1%
RBS/LLOYDS - Osborne to shelve sell-off before budget on mkt downturn......UNCH
MainFirst Pre Mkt Indications
*SAP-Raises Rev,OP f/casts for next yr,Reits '16 o/l from 12/1.......+2%
*DELHAIZE-Rev 6.32b(6.27),Bel 5.1%(3.5),US 2.3%(2.5),€ 7.8%(3.7).....+2%
*PHILIPS/GO SCALE-Consortium terminate Lumileds takeover.............-4%
*ABERTIS-Pays $1.03b to buy rest of Chilean Highway..................+1%
*TOD'S-Sales 250m(232),Constant FX +1.8%(0.6),short Int 19%..........+10%
*BSCH-To plan investment in Masters's Digital Asset-No Fins..........+1%
*CASINO-Seeking bids for Thai,Vietnam units by 5th Feb-$3.8b.........+1%
*INTERROLL-Orders 385.1m(390),Sales 360.8m(364),NP 29m(27.3).........+2%
*DIALOG/AMS-Maxim guidance 3% lite,Stk +3% a/hrs,weakness exp........+2%
*ELECTROLUX-CFO resigns to pursue external opportunity...............-1%
*AHOLD-Read across from Delhaize numbers this morning................+1%
*AIRBUS-Boeing -1.5% a/hrs as cuts 747 production as de
*SAP-Raises Rev,OP f/casts for next yr,Reits '16 o/l from 12/1.......+2%
*DELHAIZE-Rev 6.32b(6.27),Bel 5.1%(3.5),US 2.3%(2.5),€ 7.8%(3.7).....+2%
*PHILIPS/GO SCALE-Consortium terminate Lumileds takeover.............-4%
*ABERTIS-Pays $1.03b to buy rest of Chilean Highway..................+1%
*TOD'S-Sales 250m(232),Constant FX +1.8%(0.6),short Int 19%..........+10%
*BSCH-To plan investment in Masters's Digital Asset-No Fins..........+1%
*CASINO-Seeking bids for Thai,Vietnam units by 5th Feb-$3.8b.........+1%
*INTERROLL-Orders 385.1m(390),Sales 360.8m(364),NP 29m(27.3).........+2%
*DIALOG/AMS-Maxim guidance 3% lite,Stk +3% a/hrs,weakness exp........+2%
*ELECTROLUX-CFO resigns to pursue external opportunity...............-1%
*AHOLD-Read across from Delhaize numbers this morning................+1%
*AIRBUS-Boeing -1.5% a/hrs as cuts 747 production as de