TheChek News Flow

Arkema +3-5% Not to exercising option to increase Acrylic Acid capacity

Ashtead +1-2% Peer United Rentals +3.5% vs Europe close

BT +2-3% Q3 Sales GBP 4.6bln est GBP 4.5bln, EE to be retained

GSK M/P P&G may be interested in GSK's consumer healthcare division

Hibernia M/P CS reinstate with NEUTRAL (Valuation)

IHG M/P Preparing to return £700m to shareholders via share buyback

Julius Baer -1% EPS and Net a small miss, AUM and Net new Money better

Luxottica -2% Q4 sales 4% miss, CEO has resigned

Miners -1% Copper -1.20%, Brent +0.25%, Iron Ore -1.65%, China -2.19%

Oils UNCH Rig count lower on Friday 619 from 637. WTI -45bps to $33

Rolls Royce +1% Wins Norwegian order worth $2.7BLN

Ryanair +4-5% Q3 revenues inline, reiterates FY guidance

Siltronic +1-2% Numbers inline, optimism that Q2 will see demand pick up

Telenor M/P Announced today that they are buying 95% of Tapad for $360m

Vallourec -5% To raise €1bn new equity, c.€445m to be subscribed by mkt

Zoopla +1-2% Names Andy Botha as CFO


Barcap UK:

BT +4% Rev +2.5%,EBITDA +1.5%,FCF +ve &KPI Good,Net Fibre adds +250k v220k
ROLLS ROY +2% £1.9b Norwegian Air deal:on top of last wks Airbus engine order
IHG +2% Sun Times:Could announce $1b buyback next week,instead of acqn
ASHTEAD +2% United Rentals +5% in US>+3% after UK close
BOWLEVEN +1% Update on pot asset acqn:Not pursuing 2 onshore assets in Tanzania

RYANAIR +2% Net €103mv€118m:Rev IL,av fares -1%,costs -1%>€800m buyback.Reit FY
GAMESA +2% Confirmed talks with Siemens>no decisions made
JULIUS B -2% Op Nos light(Rev -3%,Costs +2%)>Net prof +4%,helped by lower tax
LUXOTTICA -5% CEO leaving after 18mths>Chairman to take over:scepticism by SHs


ShoreCap:
INTERCONT' HOTELS - said to be lining a return of £700m to shareholders......+2%

HOME RETAIL - SBRY said to have to up bid to around 160-65p,deadline tomorrow+1%

MORRISONS - annouces a further round of price cuts on over 1,000 products...UNCH

BT - strong Q3 revs +3% £4.6bn,PBT+14% £928m,500k Openreach additions........+2%

JAMES HALSTEAD - turnover increased,adverse ccy hit of 10-15%,profits inline.-1%

MICHELMERSH BRICK - stronger pricing sees FY profits slightly ahead..........+3%

RM - revs -12% £178m,oper.pft -1.8%,divi +25%,UK Education sector subdued....-3%

ERGOMED - rev growth of 25%,value of contracts rises to £28m,well placed.....+1%

CONVIVIALITY - revs +38% £252m,PBT +19%,LfL's imnprove,trading inline.......UNCH

ROLLS-ROYCE - Wins Norwegian order worth $2.7b...............................+1%

CROSSRIDER - FY rev expected $85m.2016 revs&earnings to be ahead.CEO resigns.MKT


Mainfirst:
*VALLOUREC-Cap increase €1b,Govt & Nippon Steel in,clse 2 Mills..........-4%

*BAER-FY Net 701m(722.7),Div 1(1),Op Inc 2.69b(2.73),AUM 300b(296).......-1.8%

*ALSTOM-Seeks grth by Organic means and acquistions - Figaro.............+0.5%

*LUXOTTICA-FY Sales 8.84b(8.94),Q4 Sales 2.02b(2.1),Khan 2 leave.........-2%

*RYANAIR-Net 102.7m(118.2),Rev 1.33b(1.33),B/Back 800m,Reits o/lk........+2%

*AIR FRANCE-Fuel bill may fall $2bln in '16,Union talks stopped..........+0.5%

*MONTE PASCHI-Post Italiane may be interested in BMPS - Denied...........+1%

*ARCELORMITTAL-Eyes sale of some US Long Steel Mills - Platts............+1%

*VW-Not under pressure to sell truck business - Reuters..................+0.5%

*BOUYGUES-Govt wants 2 keep Orange b/stake,says B/Tel price 2 high.......-0.5%

*RR-Said to win $2.7b Norwegian Air Contract says Telegraph..............+1%

*EURAZEO-In talks with Les Petits Chaperons Rouges sales €140m...........U/C

*CS/BARCLAYS-Exp to settle with SEC on dark pools,combined $154m.........U/C

*FRAPORT-CEO says Russian passenger drop affects Antalya,Greece ok.......U/C

*SARTORIUS-Sales 1.115b(1.12),Ebitda 263.2m(262.8),Margin 23.6%(23.5)....+1%

*SILTRONIC-Sales 215m(208),Ebitda 23m(22.3),Margin 10.7%(10.7)...........+0.75%

*DEUT BANK-Investots push to replace Chairman Achleitner - HB............+0.5%

*BANKIA-Net Profit 185m vs est 134.2m,CET1 12.3%,Bad Loans 10.8%.........+3%


JPM:
BAER PBT -7% below cons, Revs 3% light. -2%

BANKIA Mixed set of numbers, NII +2% ahead but total revs 3% lighter. -1%

BT/ Q3 financials and KPIs ahead. FY revenue outlook upgraded. +1%

IHG Press talking about £700m cash return. +2%

IMT Further bid spec in the weekend press. +1%

JUST EAT Competitor downgrade to SELL. -2%

LUXOTTICA CO-CEO Khan resigns, numbers weak. -5%

RYANAIR Q3 numbers light vs consensus, announces buyback. -1%

TELEFONICA UK regulator calls for blocking of O2/3. -2%

UNICREDIT CEO comments FY results good, to be in line/ above expectation. +3%

COMMERZ Indications:

BAS +0.6% Socgen raises to Buy (Hold9 – PT €76 (84) DEQ –0.8% UBS cuts to Sell (Neutral) – PT €36 (42) DLG +0.1% Sees more potential takeover candidates FRA –0.1% CEO sees downed Russian jet impacting own results

GWI1 -0.6% FY 2016 retail sales likely to rise by 2.0% according to HDE IFX +1.5% UBS raises to Buy (Neutral) – PT 14 (13) KCO +0.3% Vallourec (suspended - cap inc) plans to cut europ capacity by 50% LHA +0.4% Ryanair Q3 results a slight miss, share buyback worth €800mn SIE +0.2% Nomura raises to Buy (Neutral) – PT €102(96)