ML
* PETROFAC - Noryala sells 5m shares, $67m; UBS sole bookrunner..............
OLD MUTUAL - Confirms will split into 4 parts, AOP 1% ahead, div inline.+4-5%
SPIE - EBITDA inline, div 0.5/shr. Guides '16 EBITA 3% ahead of cons....+2-3%
SODEXO - To replace ALO in CAC 40 on 18th MAR, 2.55m shrs to buy, 3.5adv..+2%
B.CUCINELLI - EBITDA inline, div EU0.13/shr, sees double digit growth '16.+2%
ROCHE - Positive read from Sanofi data, drug would compete with Actemra.+1-2%
DEUTSCHE - Spec in talks with JPM/GS & Citi to sell c.€1tn of swas book...+1%
ORANGE/BOUYGUES - Xavier Niel says high probability deal will go through..+1%
FINMECCANICA - CEO saying in FT results will be good with nice surprises..+1%
SANOFI - Sarilumab data out in RA, concerns on neutropenia side effects...u/c
MARKS & SPENCER - We DOWNGRADE to Underperform, PO cut to 385p from 480p..-1%
ALSTOM - SW FP to replace in CAC 40 on 18th MAR, 4m shrs to sell, 1.15 adv-2%
JDW - Inline but flags cost pressure. Cons sees 6% EBIT decline in 2H.....-2%
COMPUTACENTER - FY15 inline, EPS small beat but div light at 21.4p v 22.3p-3%
CS:
Autos M/P China names trading +3% following chatter of more stimulus
Autos M/P China names trading +3% following chatter of more stimulus
Banks +2-3% ECB package positive for near term sentiment
Brunello +2-3% EBITDA inline, net income inline, commentary reads well
Computacenter M/P Pre-tax profit £86.9m (cons 85.6m), good cash generation
Dialog sem +1-2% Apple is expected to unveil 4-inch iPhone and updated iPad
Flughafen +1-2% Revs inline, EBITDA ahead, divi 15 + spec divi of 16
JD Wethers +2-3% Revs inline, divi inline, LFL +2.9%, outlook reasonable
Miners +2% LME Metals all up c.1%, US peers strong overnight
Oils +1% WTI +3.5% from our close
Old Mutual +4% Co has announced the break-up of the group into 4 grps
Parmalat -5% Revs light, EBITDA light, Divi light, guidance light
Renault unch CS D/G to NEUTRAL on valuation
SAF Holland +1-2% FY sales inline, ebit €94m small ahead, guidance light
Spie M/P Net debt slightly better and guidance in line
Sthree M/P UK contract all performing well. Energy still poor
Swatch -1% Investor day mixed, -ve EU, +ve Asia, FX still an issue
Numis:
* AMEC FOSTER WHEELER -1%; Avoid - Bad news is out there, but no catalyst for progress, Times
Numis:
* AMEC FOSTER WHEELER -1%; Avoid - Bad news is out there, but no catalyst for progress, Times
* AVANTI COMMS +2%; Wins first order Hylas 4 Capacity
* AVIVA +1%; Times says Buy, Telegraph says Hold.
* CAMBIAN -20%; Results will be “slightly” below guidance, temporary waiver with banks
* COMPUTACENTER mkt; Numbers inline, sees year of further progress
* EQUINITI +1%; BUY, value emerges, Investors Chronicle
* G4S mkt; Sell - exposed to looming debt deadlines – Telegraph (-15% last 2 days)
* JD WETHERSPOONS mkt; Interims in line, usual Tim Martin comments
* MARSHALLS +3%; Finals, nos small beat, very +VE outlook
* OILS +1-2%; Brent $40.79 vs LDN close $39.85, WTI $38.70 vs $37.25, US names strong after $ depreciation and EIA data suggestion US gasoline consumption set for 4th weekly gain to highest levels since September. UK names had agressive sell-off into close.
* OLD MUTUAL +3%; PTP £1.7bn, to separate EM, Wealth, Nedbank and Asset management by end 2018
* PARTNERSHIP ASSURANCE +1%; PBT £49.8m, sees merger complete by early April
* PETROFAC +2%; Develops 'Duty Holder' model for N. Sea Anasuria JV FPSO management. Initially a 5yr contract for $250m and 65 jobs.
* SAFESTORE +2%; Agreed option to buy Space Maker the 9th largest self storage portfolio in UK. £43.0m initial consideration + £1.4m deferred. Funded from existing debt facilities. NIY of 8.7%
* SHAWBROOK +1%; BUY, tapping into the SME credit gap, Investors Chronicle
* STHREE +2%; No’s inline, UK weak vs strong Europe/US, outlook mixed, been weak
* WHITBREAD +1%; BUY, looks attractive as long term potential, Investors Chronicle
Mainfirst:
*OLD MUT-To separate EM,Wealth,Nedbank and Asset Mgmt Units......+1.5%
Mainfirst:
*OLD MUT-To separate EM,Wealth,Nedbank and Asset Mgmt Units......+1.5%
*NESTLE-In talks with Nerios over sale of Quezac - Figaro........+0.5%
*SODEXHO-To replace Alstom in CAC40 says Les Echos...............+0.5%
*EDF-French Auditor says finances are fragile - Le Monde.........-0.5%
*AIRBUS-Head Bregier sees no slow down in air traffic,exps grth..+0.5%
*ZURICH AIRPORTS-Ebit 274.6m(265.3),Ebitda 502.8m(490.5),Div 15..+1%
*CARREFOUR-Says it is not in talks to invest in Victory(Israel)..+1%
*DBK-JPM,GS,Citi may buy DBK's swaps book,two-thirds sold........+1%
*INDITEX-Plans to open first store in Vietnam this year..........U/C
*CUCINELLI-FY Ebitda 69.1m(69.1),Net Inc 33m(33.05),Divi 13c.....+1%
*SAF HOLLAND-Sales 243.2m(250),Ebit 20.4m(18.8),outlook 2016 ok..+2.7%
ShoreCap:
JD WETHERSPOON - rev +6.2% LfL +2.9%,sees slightly more favourable H2.......UNCH
ShoreCap:
JD WETHERSPOON - rev +6.2% LfL +2.9%,sees slightly more favourable H2.......UNCH
STHREE - pft +10% YoY,strong continent,signs of slowing UK,remains confident.-1%
COMPUTACENTER - sees a more challenging UK,sees H1 profit below expec........-5%
CIRCASSIA - encouraging future outlook for portfolio,losses widen to £50m....-1%
JUST RETIREMENT - H1 op pft 65.2m.New Biz sales +50%.Merger on track........UNCH
PARTNERSHIP - Fy op pfts 40m.Sees merger complete early April...............UNCH
OLD MUTUAL - To Separate EM, Wealth, Nedbank, Asset Mgmt Units...............+3%
MARSHALLS - Says trading conditions positive.2016 started well...............+2%
PETROFAC - appointed duty holder for Anasuria,contract worth $250m...........+2%
CAMBIAN - sees FY slightly lower than g'dance,in breach of convenants.......-10%