BofAML
* ALSTRIA - Oaktree Capital places 10.7m shrs @ EUR 12.20/shr; JP sole.......
HOCHSCHILD - Q2 prodn of 10.2Moz silver equivalent, +28% QoQ & +67% YoY+7-10%
WEIR - Should rally on the back of Komatsu to acquire Joy Global deal.....+3%
ASHTEAD - URI (+9% aft-hrs) revised rental outlook up from -3-4% to -2-3%.+3%
BRITVIC - Sales 5% ahead of BAML, Org Sales growth of -0.7% v us -0.6%..+2-3%
DRILLISCH - Pre-release. Good KPIs, no financials, guidance confirmed...+2-3%
METSO - Strong. Orders €761m are a 2% beat. Sales €671m 1% below cons...+2-3%
TEMENOS - Q2 revenues 153.8m (vs C142) and licences 47.8m (vsC39.8).....+2-3%
UNILEVER - 2Q/1H first take reassuringly +ve. Op margin +50bps v +30bps...+2%
NORSK HYDRO - Big beat. EBIT 20% ahead of cons driven by metal division...+2%
PGS - Beat with Rev of USD183m, 5% ahead whilst EBITDA of 69m, 32% ahead..+2%
ACTELION - Positive. Sales +4%, core earnings +4.6% and EPS +10% v cons.+1-2%
HERMES - Guides that H1 EBIT margin will be 1% higher than last year....+1-2%
UNIBAIL - Shopping centre LFL income 3.8%, consistent with the prior yr.+1-2%
WERELDHAVE - Inline with direct result per share €1.77. FY guidance reit+1-2%
ABB - Positive. Strong margins 12.7% v 11.9% cons & stable China.SI 2.7%+1-2%
PUBLICIS - Q2 org growth +2.7% v +1.7% cons, driven by digital act......+1-2%
MINERS - Copper +0.45%, Iron Ore +2% with BHP OZ -0.1%, RIO OZ +1.35%.....+1%
DAIMLER - Beat as per pre-announcement, new details on cash look solid....+1%
AO WORLD - Operations on track to meet prior FY guidance. Stock been weak.+1%
CLOSE BROS - Slight beat. Book growth a couple of percent better than BAML+1%
ROCHE - Sales flat, core op profit +4% v cons and Core EPS +4% v cons.....u/c
SWATCH - Op profit CHF353, -54%, mid-point of guidance provided last week.u/c
OMV - Vols and margins inline, but refinery utilisation rate much lower...u/c
SSE - Main message all unchanged since FY results in May. EPS guide same..u/c
YARA - EPS miss. Q2 EPS 6.4 v 6.7 cons. Energy costs revised up in H2.....u/c
TELE2 - Mixed. Group revs +1.4% beat, EBITDA -2.2% miss on higher costs...u/c
HALMA - Progress inline so nothing too surprising, expect a FX tailwind...u/c
BABCOCK - Good start to the yr, trading looks inline with expectations....u/c
LAND - Divi +9.9% for the yr. Highlighting conservatively positioned BS...-1%
SWEDBANK - Loan losses and capital offset by the pre provision beat.....-1-2%
DASSAULT SY - Mixed. Q3 rev inline, 2.3% beat at EBIT. Guidance reit'd..-1-2%
SKF - Miss. Q2 org growth -4% v -3.2% cons and adj profit is 6% light...-1-2%
ICP - Looks ok but asset gathering slowing slightly. Had decent bounce..-1-2%
DAILY MAIL - Underlying Q3 rev growth for the quarter of 1% on last yr....-2%
WILLIAM HILL - CEO Henderson steps down, CFO to act as interim CEO......-2-3%
RYANAIR - Negative read over from LHA warning and EZJ disappointment....-3-4%
EASYJET - Yields -7.5% for the Qtr vs cons -5%. Expect cons to fall more..-5%
LUFTHANSA - Warning. Expect cons d/gs of c.14%. Short interest at 16%...-7-8%
CS
ABB +1% 8% op profit beat, but orders light
Actelion +2% H1 sales 2% beat, guidance raised
Air France -3-4% Negative read from Lufthansa profit warning
Akzo Nobel -1-2% CS dowwngrade to NEUTRAL (Underlying volume growth)
AO World +1% UK Business has performed well, on track with L/T strategy
Ashtead +3% Peer United Rentals +8% after-hours on good numbers
Atlas Copco +1-2% Positive read - Komatsu to acquire JOY GLOBAL for $28.3
Babcock M/P AGM trading update inline with market expectations
Britvic +1% Q3 revs £346.3m vs cons 343.8m, outlook inline
Daily Mail +1-2% Outlook for full year in line with current estimates
Daimler M/P No's inline with pre-release - Q2 revenues 1% miss
Danske Bank UNCH Q2 net 1.5% light, NII is 3% above, CET1 15.8% 50bps light
Dassault Avi M/P No's mixed, confirms 2016 guidance
Drillisch +3% Budget subscriber adds 238k
Easyjet -5-7% Revenues per seat -7.5% YOY, No guidance for FY2016
ENI -1% Positive update on arbitration against GasTerra
Galenica R To Buy Relypsa For $1.53b
Hermes +4-5% Sales in stores +8% in Q2 (CSe +6%)
Howden Join +1-2% LFL revenues +5.2% for the first 4 weeks of period
ICP M/P Trading update inline with market expectations
Land Secs -1% AGM statement cautious, business uncertainty to persist
Leonteq +2-3% Revenues inline, net a decent beat
Lufthansa -5-10% Profit warning -increasing political/economic uncertainties
LVMH +1% Said to be in talks to sell DKNY and DKI brands
Millicom -2-3% Sales $1.57b vs cons $1.58b, lowers FY capex guidance
Miners +1% Copper +0.30%, Brent +0.55%, Iron Ore +1.90%, China +0.94%
Metso +4-5% Q2 Net sales 1.5% miss, EBITA 16% beat
Norsk Hydro +3-4% CS double upgrade to OUTPERFORM and positive numbers
Prem Foods -1% Q1 group sales +1.9% but more own label than branded
Publicis +1% H1 Rev EU 4.75b est EU 4.72b
Rieter +3-4% H1 sales 2% ahead, order inrate 11% ahead, outlook inline
Roche UNCH H1 Sales CHF 25b est CHF 24.8b, confirms outlook
Sandvik +1-2% Positive read - Komatsu to acquire JOY GLOBAL for $28.3
SKF -2-3% Q2 net sales 2% miss, op profit 12% miss
South32 +1% Production numbers inline with market expectations
SSAB -1% Numbers mixed but outlook for 2016 unchanged
SSE M/P Numbers inline with market expectations
Swatch +2% H1 inline with pre-release
Swedbank -1-2% 3% beat at bottom line, CET1 at 23% looks 80bps light
Tate & Lyle +2-3% 1Q profit ahead, debt lower
Tele2 +2% Revenues and EBITDA a small beat
Technip +1% Awarded MSA for SCT&E LNG’s Monkey Island project
Temenos +3% EBIT ahead of cons, expects high-end of the 2016 guidance
Thule +1% Sales SEK1.8b vs cons 1.77b
United Utils -1% CS downgrade to NEUTRAL (No upside without M&A)
Unibail +1-2% NAV 189 vs CS at 189.83, France has performed well
Unilever +1% 2Q Underlying Sales Growth 4.7%; Est. 4.5%
Will Hill -2% CEO Henderson stepping down, CFO to be interim CEO
Yara -1-2% Adj Ebitda 3,936 vs CS at 4,033, Benefit from gas prices
Zooplus +1% Sales 221.m vs cons 213.33m
MF
*ABB-Sales 8.68b(8.82),Ebita 1.106b(1.02),Margin +100bp's............U/C
*LUFTHANSA-Cuts f/c for FY Adj Ebit to below prior yr,H1 raised......-5%
*ACTELION-Rev 1.18b(1.16),EPS 4.05(3.9),Uptravi FY est raised........+1.5%
*NORSKE HYDRO-Rev 20.4b(19.9),Net Inc 1.95b(1.32),Ebit 1.62b.........+2%
*SWATCH-Sales 3.72b(3.86),OP 353m(543),Co sees stronger H2...........+0.5%
*KORIAN-Rev 1.47b(1.465),Confirms 2016 sales targets.................+1%
*TEMENOS-Rev 153.8m(142.3),Ebit 38.7m(35),EPS 42c(37.5),o/l +ve......+3%
*DASSAULT SYSTEM-Sales 754m(752),EPS 57c(565),Q3 ok,buys CST.........+0.5%
*SWEDBANK-NI 6.27b(5.53),Net Com Inc 2.8b(2.76),NLL 538m(340)........+1%
*DANSKE-NII 5.5b(5.3),Inc 11.54b(11.3),Net 4.26b(4.32),CET 15.8%.....-1%
*DAIMLER-Ebit 3.97b(3.4),Rev 38.6b(38.9),Confirms guidance...........+1%
*LEONTEQ-Op Inc 119.3m(117.5),Ebt 38.4m(31.7),Exp 80.9m(86.3)........+1%
*RIETER-Sales 436.9m(434.4),Ebit 15.7m(19.3),FY Sales/Pft down.......+1%
*TELE2-Sales 6.67b(6.59),Ebitda 1.09b(1.11),Keeps FY outlook.........-1%
*PUBLICIS-Rev 4.75b(4.72),Net 381m(396),Sees no Brexit impact........+2%
*RIETER-Orders 501.7m(457),Sales 436.9m(438),Ebit 15.7m(19.5)........+1%
*ROCHE-Sales 25b(24.8),EPS 7.74(7.64),OP 9.85b(9.47),o/l ok..........+1%
*ADVA OPTICAL-Rev 157.2m(150.7),Net 9.81m(4.83),Q3 Rev looks +ve.....+5%
*KRONES-Sales 788.2m(797),Net 36m(40),Orders 780m(781),o/l ok........-2%
*ZOOPLUS-Sales 221m(213.3),Sales driven by segment feed +35%.........+2%
*SKF-Sales 18.4b(18.7),OP 1.88b(2.13),Q3 demand lower vs Q2..........-2%
*MEDA-Sales 5.02b(5.06),Ebitda 1.58b(1.66),Mylan bid EU approved.....-0.5%
*UNILEVER-Sales Grth 4.7%(4.5),Vol Grth 1.8%(2.4),Rev 26.3b(26.6)....+1%
*YARA-Ebitda 3.96b(4.17),Net 3.07b(3.09),Ebitda 3.96b,EPS 11.23......-2%
*EASYJET-Q3 Rev 1.196b(1.22),Load Factor 92%,passengers 20.2m........-6%
*METSO-Sales 671m(681),Order Intake 761m,Ebita 77m,mining stable.....+2%