BOFA-ML
REMY: Org Sales +7.4% vs 4.3%, strong growth in Americas (77.26)............+3%
William Hill: Amaya and William Hill will no longer pursue merger (310.99)..+2%
BELLWAY: PBT of £498m vs consensus of £469m, outlook statement +ve (2300)..+2%
LADBROKES: Digital rev growth +48% vs c.20%, Retail in line (140)...........+2%
POLY: 42% QOQ increase in gold-equivalent production (857.5)..............+1.5%
ASOS: FY constant currency revenue grew 26% vs cons of 24% (5380)...........+1%
ASTRAZENECA: successfully re-filed ZS-9 for hyperkalaemia w FDA (5024.24)...+1%
ENAGAS: 9m results in line,EBITDA €643mn vs BofAML €663mn (25.51).........-.50%
DANONE: 3Q16 Sales miss, Volumes -.7% vs +.4% cons, guide confirmed (62.54).-2%
BURBERRY: Revs in line, wholesale revs -14% cFX, we D/G to neutral (1465)...-2%
RYANNAIR: Cutting guide on FX, reduced FY Net Profit guide by 5% (11.55)..-2.5%
BUREAU VERITAS: Full year guide downgraded to slightly negative (17.85).....-3%
Kuehne&Nagel: Group EBIT c.-12% miss, Net Profit c.-9% miss (133.09)........-3%
CONTINENTAL AG: cut '16 outlook on antitrust cases in carpart unit (170.05).-3%
StreetAccount Summary - European pre-market trading update
StreetAccount notes that the pre-market levels mentioned are taken from various market sources
StreetAccount notes that the pre-market levels mentioned are taken from various market sources
- Trading Higher
- +2% to +5% COMH.SS (Com Hem) -- earnings, dividend better than expected
- +2% to +3% BWY.LN (Bellway) -- earnings, ups dividend
- +2% to +3% RCO.FP (Remy Cointreau) -- Q2 sales
- +2% to +3% WMH.LN (William Hill) -- withdraws from talks to merge with Amaya (AYA.CN)
- +3% AZA.SS (Avanza Bank Holding) -- earnings
- +1% to +2% ELUX.B.SS (Electrolux) -- AHAM 6 data
- +1% to +2% HAS.LN (Hays Plc) -- Q1 LFL Net Fee Growth +3% vs consensus +2%
- +1% to +2% LAD.LN (Ladbrokes) -- trading update
- +1% to +2% CNCT.LN (Connect Group Plc) -- earnings
- +1% to +1.5% POLY.LN (Polymetal International) -- production report
- +0.5% to +1% ATLN.SW (Actelion) -- in discussions to find a partner for antimalarial compound
- +0.2% to +0.3% SOON.SW (Sonova) -- investor day
- Mixed
- -4% to +1% ASC.LN (Asos) -- earnings
- Trading Lower
- -3% to -5% RY4C.ID (Ryanair Holdings) -- profit warning
- -3.5% to -4% SZU.GR (Suedzucker) -- Kepler Cheuvreux downgrade
- -3% to -4% BVI.FP (Bureau Veritas) -- profit warning
- -0.5% to -1% SGSN.SW (SGS) -- BVI.FP sympathy
- -2.5% to -3% KNIN.SW (Kuehne & Nagel) -- earnings
- -2% to -3% BRBY.LN (Burberry) -- H1 sales softer than expected
- -1% to -5% CON.GR (Continental) -- profit warning
- -1% to -2% BN.FP (Groupe Danone) -- Q3 sales
CS
Asos -3-4% FY inline, margin guidance may disappoint
Asos -3-4% FY inline, margin guidance may disappoint
Autos UNCH Ford To idle four factories due to slowing demand
Bellway +2-3% FY16 operating profit 492mln vs CS at 490mln
Bureau Veritas -3-4% Q3 light and 2016 revised slightly lower
Burberry -2 1H revs, 2Q retail comp sales in line with estimates
Com Hem +2% EBITDA 4% beat, Q3 revenue inline, divi to increase
Connect Grp +1% FY revs inline, adjusted profit 2% ahead
Continental -4-5% Cuts its 2016 profitability forecast
Danone -1% LFL sales growth 2.1% vs Est. 2.4%
Electrolux +1-2% September shipments of white goods climbed 6.9%
Hays +1-2% 1Q net fees increase YoY, Australia better
K&N -2% Q3 net 6% light, net sales 11% light
Ladbrokes +1-2% 3Q supportive of its full year expectations
Miners +0.5-1% Copper +0.40%, Brent +0.90%, Iron Ore +0.35%, China +0.50%
Oils +0.5% Brent +90bps to $51.8, WTI +1.15% to $50.25
Pernod +1% Positive read from Remy numbers
Remy +2-3% Q2 sales 3% ahead, organic growth 7.4% vs cons 4.3%
Royal Dutch -0.5% Boardroom clash complicates exit from partnership in Japan
Ryanair -3-5% Cuts FY17 net profit guidance 5%
Volkswagen UNCH US state of Missouri sued VW over diesel emissions
Will Hill +2-3% Amaya and William Hill will no longer pursue merger
Investec
* B VERITAS-weak Q3, cuts FY sales & margin ests.'unfavourable conditions'...-3%
* B VERITAS-weak Q3, cuts FY sales & margin ests.'unfavourable conditions'...-3%
* COM HEM-Q3 rev in line, ebitda 3% beat, lowers capex, big div increase.....+3%
* CONTI-cuts FY16 ebit guidance by 10% on warranty, antitrust charges........-3%
* DANONE-Q3 lfl +2.1%(est +2.4%), overall sales in line, confirms FY f/cast..-1%
* K&N-Q3 net misses by 9%, ebit also weak. Not seen any guidance change......-3%
* REMY-Q2 org sales +7.4% (est +4.3%), 'remarkable growth' in US.............+3%
* SGS-seen lower on read from BVI FP warning...............................-1.5%
* SONOVA-investor & analyst day today, will present new products.............+1%
Other
* AIRLINES-watch for read from RYANAIR cutting guidance.
* HALDEX-CEO resigns(joins Indutrade). Watch for impact on potential t/over.
* EU Co's reporting later/after close: GETINGE, ACCOR
* US Co's reporting (selected) : Omnicom,BlackRock,J&J,P Morris,GS,Intel,Yahoo!
UK
* ASOS-FY.Rev i/l,Profit small beat. Margins stable.+ve o/look.d/g's likely.....-2%
* AVON RUBBER-Update. Trading in line, FY on track. Appoints new FD(ex CHG LN).unch
* BELLWAY-FY.Rev inline, PTP & Div ahead.LT outlook remains +ve.............+2-3%
* BURBERRY-Q2.#'s in line, cost savings on track. No chg to FY PTP views....unch
* CLINIGEN-Launches Japanese Business to strengthen Asian presence..........+1/2%
* CONNECT GRP-FY. #'s in line. Positive outlook stmtn........................+1/2%
* DIAGEO-Hosting Asia Pac conf.call at 13:00 today........................ .unch
* DIGITAL BARRIERS-Agrees new 2 yr. £10m revolving credit facility..........unch
* HAYS-Q1.Solid trading, UK weak (well flagged)+ve o/look(Americas&Aus)....+1-2%
* LADBROKES-Q3.Trading in line, FY on track. Coral deal close to completion...+2%
* MARSHALL MOTORS-Trading remains in line(stmnt after yday’s weakness,-7%)....+3%
* UTILITYWISE-FY. #'s & div a small beat. Names new CFO.....................+1-2%
* WILLIAM HILL-No longer pursuing all share merger with Amaya...............+1%
MainFirst
*CONTI-Sees Auto Grp Ebit Lower Y/Y,expects Q4 back above <9%........-3%
*CONTI-Sees Auto Grp Ebit Lower Y/Y,expects Q4 back above <9%........-3%
*K&N-Q3 Ebit 223m(252),Ebitda 270m(298),Conf call 2pm CET............-3%
*BASF-2 employees dead & 2 missing, prosecutors will investigate......U/C
*CBK-To cut 8,450 jobs in Germany out of a planned 9,600-B/Z.........+0.25%
*DANONE-Q3 l-f-l +2.1%(2.4),Sales 5.54b(5.55),Diary ++2.2%(2.5%).....-2%
*B/VERITAS-Q3 Sales 1.136b(1.14),Cuts 2016 Targets, Sale low end......-4%
*REMY-Q2 Sales 294.8m(284.2),L&S +10%(5%),Organic Sales 9.3%(6)......+3%
*LHA-not only interested in parts of Air Berlin but also Condor......+0.5%
*BURBERRY-Rev £1.16b(1.17),Retail £859m(858),Retail 2%(2)............-2%
*WILLIAM HILL-Will not pursue merger talks with Amaya................+2%
*RYANAIR-Cuts FY17 by 5%,Fares -10%(-9%),Load Factor 1% better.......-3%
MS
Pre-Open Indications:
ASC LN -1-2%
ASOS FY REV GBP 1.44B VS BLOOMBERG CONS GBP 1.44B,SEES MARGINS BROADLY STABLE
BN FP -1-2%
Q3 LFL 2.1% vs 2.2% CONS. MAINTAIN GUIDANCE BUT KEY IS THAT LOW END OF 3-5% OR IN LINE WITH CONS AT 3.4%. CALL AT 8AM MAY TELL US MORE RE Q4.
BRBY LN -2-3%
LFL +2% INLINE, BUT MISSES WHISPER NUMBERS & HIGH EXPECTATIONS GIVEN RUN & LVMH. FX BENEFIT LARGELY EXPECTED & PRICED IN.
BVI FP -3-5%
BUREAU VERITAS CUTS 2016 TARGETS,CITES UNFAVORABLE MARKETS,3Q SALES EU1.136B,DOWN LFL 1.0%HAD SEEN SALES UP AT LOW END OF +1%-3% RANGE
BWY LN +3%
BELLWAY FY PRETAX GBP497.9M VS BLOOMBERG ESTIMATES GBP 469.1M,OUTLOOK POSITIVE,SUPPORTED BY STRONG DEMAND
COMH SS +3/4%
COM HEM 3Q REV SK1.31 VS BLOOMBERG EST SK 1.31 BLN,3Q UNDERLYING EBITDA SK642 MLN VS BLOOMBERG EST 622 MLN,SIGNIFICANTLY INCREASE DIVIDEND IN 2017 TO SK 4.0/SHR
CON GY -3%
CUTS GUIDANCE BY 12%, MOSTLY DUE TO ONE OFF ON WARRANTIES/ANTITRUST ISSUES DATING PRE-2010, THOUGH STILL UNCERTAINTY.. STOCK HAS DERATED INTO THIS
ELUXB SS +1-2%
SEPT AHAM6 DATA STRONG, +6.9%, YTD +3.6%. WILL BE TAKEN WELL DESPITE POTENTIAL Q MARK OVER PRICING
ENG SM +0.5%
WEAK NOS AT OPERATING LEVEL MAINLY DUE TO HIGHER OPEX, NET IN LINE, CONF CALL AT 09:00CET
EZJ LN -2-3%
NEGATIVE READACROSS FROM RYA WARNING, BUT PARTLY PRICED IN
HAS LN UNCH/+1%
HAYS REPORTS TOTAL GROWTH OF 3%
IAG LN -4-5%
NEGATIVE READACROSS FROM RYA WARNING AND ONLY AIRLINE NOT TO COMMENT YET ON CCY (REPORT OCT. 28)
POLY LN REST
REIT'S FY COST & VOLUME GUIDANCE, GOLD +40bps THIS MORN
RCO FP +3-5%
REMY COINTREAU 2Q SALES RISE ORGANIC 9.3% VS BLOOMBERG EST 6.0%,2Q SALES EU 294.8M VS BLOOMBERG CON EU284.2M
RYA ID -3-5%
LOWERING FY17 GUIDANCE BY 5%, CONSENSUS PARTLY MOVED ALREADY, VISIBILITY REMAINS POOR
Shore Cap
MOTOR INSURERS - ABI sees insurance premiums +10% in the past year.........UNCH
BELLWAY - record yr,revs +26.9% £2.24bn,profits +34.3%,oper.margin +160bps..+2%
BURBERRY - revs -4% £1.16bn,wholesale revs -14%,FY PBT expec remain unch....-1%
ASOS - revs +26% £1.44bn,profit +26% £722m,reads in line at best............-2%
DOTDIGITAL - turnover +26%,EBITDA +17%,sees rev growth in Q1 over 20%.....+tive
WILLIAM HILL - Op pft to be top end of range. Calls off Amaya merger.........+2%
RYANAIR - Cuts fy guidance 5%.Cites fall of sterling post Brexit referendum.-5%
HAYS - Q1 net fees +3%.Says new financial year has started well.............+2%
MARSHALL MOTOR - Reiterates outlook for FY..................................+1%
LADBROKES - Says Q3 supportive of its full year expectations................+1%
CONNECT - revs +1.7%,PBT +7.4%,strong cash generation, confident outlook.....+2%
ACCESSO TECH - signs three year LoQueue solution contract at Sydney park..+0.5%
RBC
ASOS -2% Pretax profit small miss, margins stable, travel & arrive
ASOS -2% Pretax profit small miss, margins stable, travel & arrive
BELLWAY +3% FY pretax beat, operating profit ahead, raising dividend
BURBERRY -3% Q2 sales inline, Retail flat, travel & arrive
B.VERITAS -3% Q3 organic growth -1% v -0.6% expected, cutting FY targets
DANONE -2% Q3 LFL +2.1% v +2.4% expected, vol growth weak, medical better.
COINTREAU +3% Q2 beat, LFL +7.4% v +4.3% expected, spirits strong
CONTINENTAL -5% Warning on anti-trust/warranty issues, ADR (-3%), FY16 downgrade
ENAGAS -1% Q3'16 small miss with EBIT/EBITDA below, net income ahead
HAYS +2% Q1 net fee growth ahead +3% v +2% expected, Europe growth ahead
K & NAGEL -2% Q3 EBIT miss, Hanjin disruption, Air ahead, expect downgrades
HUGO BOSS -1% Weak read from BURBERRY after wholesale miss
POLYMETAL +1% Q3 production +4% on Svetloye ramp, guidance reiterated
RYANAIR -3% 2017 guidance cut but not as much as EASYJET, sterling headwinds
SKY -1% NETFLIX (+20%) strong after hours, overseas subscriber adds +'ve
WILLIAM H. +1% AMAYA and WILLIAM HILL merger end, buyback restart & +'ve earn.
Julius Baer
SMI +0.2%
SMI +0.2%
ATLN +0.6%
KNIN -2.8%
KUDN +0.7%
Tradegate
SZU -2.7%
HELLA +1.7%
BN -2%
CRH +1.6%
EZY +1.8%
MHG +1.4%
RYA -3.5%
RKH +8.8%
RB/ +1.1%