ML
* BAML GLOBAL INDUSTRIALS CONFERENCE DAY 4 - Siemens in focus................
* GOLD FIELDS - Raises 2.5bn Rand, places 38.9m shrs; BAML sole bookrunner...
* GRANGES - Orkla selling 11.9m shrs @ SEK 69/shr; Carnegie/SEB on deal......
* CAPIO - Apex EU/France selling 18m shrs @ SEK 42/shr; JPM/SEB on deal......
DNO - Net 2P reserves at YE15 were 392 MMboe, a 13% decrease v BAML -20%..+2%
BT - Simon Lowth to replace Tony Chanmugam as New Finance Chief; Sky......+2%
GRANDCITY - Good. FFO1/shr EUR 0.89 is inline, NAV strong at EUR 14.95..+1-2%
FERRAGAMO - EBITDA 4% beat but guide on call was cautious start of yr.....+1%
AIR FRANCE - Receives 4 offers for Servair, spec worth c.EUR 480m; Echos..+1%
VOLVO - Industrivärlden (with Cevian) putting pressure on chairman........+1%
D. WOHNEN - FY15 inline, NAV/shr EUR 23.0. FY16 guidance is stable......+0.5%
RICHEMONT - Bernard Fornas to retire as Co-CEO as of end of March.......+0.5%
HANNOVER RE - We UPGRADE to Neutral, PO €109 (now rated same as MUV2)...+0.5%
MUNICH RE - We DOWNGRADE to Neutral, PO €198 (now rated same as HNR1)...-0.5%
DUNELM - We DOWNGRADE to Neutral, PO 980p. Slower pace of store rollout...-1%
SUNRISE - Freenet AG buys 23.83% stake in co from CVC for CHF 72.95/shr...-1%
GENERALI - Op profit 3% miss, div inline & solvency II better at 202%...-1-2%
BKG - FY to be top end. 4% drop in reservations the main negative.........-2%
CS
Assa Abloy +1% Garthwaite flags in strategy note, broker u/g away
Berkeley Grp -2% FY #s top of range, but broader commentary cautious
BT +1% Simon Lowth to Succeed Chanmugam as Finance Director
Deutsche W M/P NAV at EU23.01 vs 17.86 last year, broadly inline
Freenet -3% Freenet Buys 10.7m Shrs of Sunrise Comms at Chf72.95
Generali -2% Solvency better, however net is an 8% miss
Grand City +2-3% NAV climbs to EU13.46 per share ahead of CS 13.10
JC Dec -1-2% Exterion Wins GBP2bn Tube Ad Contract, Beating JCDecaux
Santander +1% Santander to Improve 2016 Div/Shr by 5%
SAP +0.5% ADBE: Reports Q1 $0.66 v $0.60e, R$1.38B v $1.33Be
Savaltore +1-2% 3% EBITDA beat and >30% SI should see the stock better
Sunrise com +8-10% Freenet Buys 10.7m Shrs of Sunrise Comms at Chf72.95
U-Blox -2-3% Sales light, EBIT light, divi ahead, guidance light
MainFirst Pre Mkt Indications
*AIR FRANCE-Examining offers for Servair Catering Unit - Echos......+1%
*RICHEMONT-Cutting jobs & Co-CEO Fornas to retire...................-0.5%
*BSCH-To improve 2016 Divi/Share by 5% says Expansion...............+0.5%
*FREENET-Buys 23.8% stake in Sunrise Comms,Sees Ebitda up €10m......-1.5%
*THYSSEN-Revamps Inds Solutions Unit says Handelsblatt..............U/C
*FERRAGAMO-FY Ebitda 324m(313),Ebit 265m(255),NI 173m(164.4)........+2%
*BILFINGER-Building unit sale said to draw EQT,Triton & JLL.........+0.25%
*D/WOHNEN-FFO 303m(310),Ebit 2.19b(2.19),NI 1.16b(1.5)..............-0.5%
*GENERALI-FY OP 4.79b(4.97),NI 2.03b(2.25),Divi 72c(70).............-1%
*GRAND CITY PROPS-Ebitda 177m(170),FFO 127.9m(126.12),FFO 89c(82)...+0.5%
*MAX AUTO-Sales 383.8m(368.75),Ebit 24.8m(19),FY16 looks ok.........+1.5%
*JC DECAUX-Loses out on London Underground contract worth £2bln.....-1%
*TIT-FY Net Loss worse than Feb guidance,no comment on Inwit........-1%
BERKELEY GRP - fwd sales in excess of £3bn,current year at top-end.........+5%
ROBINSON - revs +4% £29.1m,Madrox bix outperforms,debt lower,divi raised...+2%
CAPITAL & REG - acquires third property in Hemel Hempstead for £7.8m......UNCH
CERILLION - first day of dealings,ticker CER,Shore Cap broker and Nomad....MKT
VOLUTION - revs +9%,PBT +14.9% £14.6m,strong cash flow,inline..............+1%
CONCURRENT TECH - sales +33.6% £17m,PBT +58.8% £2.7m,sees strong H1 in 2016+2%
M&C SAATCHI - record results,rev +6% £179m,PBT +17%,divi +15%,gd outlook.+1.5%
IDEAGEN - strong momentum continues,EBITDA significantly ahead of prev yr..+2%
AB FOODS - talks continuing on pot. acquisition for Illovo Sugar..........UNCH
HOME RETAIL - PUSU deadline 5pmm today..............................