BAML
ACTELION - +9% on US close; spec JNJ bid raised to >$250. No update (214.2).+5%
ACTELION - +9% on US close; spec JNJ bid raised to >$250. No update (214.2).+5%
BURBERRY - Reportedly rejected multiple takeover offers from Coach (1470p)..+4%
AIXTRON - Obama blocked the acquisition of the US biz by Grand Chip (3.95)..+3%
HANSTEEN - Good letting progress post Brexit, cont to reduce vacancy (107)..+1%
NORWEGIAN AIR - Wins approval to expand flights to U.S Using Irish sub (262)+1%
BASF - We DOUBLE UPGRADE to Buy, taking our PO to €97 from €60 (€81.4)....+0.5%
MINERS - Copper +1.4%, Iron ore +4.6% with BHP OZ +0.6% and RIO OZ +1%......u/c
LANXESS - We UPGRADE to Buy, PO €70 from €49. Bullish on diversified (€57.8)u/c
RYANAIR - Nov traffic stats: +15% on volume and +2% on load factor (€13.82).u/c
INMARSAT - We roll back onto our Europe 1 list (best ideas) as BUY (703p)...u/c
ARKEMA - We reinstate coverage with a BUY rating and PO of €105 (€90.05)....u/c
COVESTRO - We UPGRADE to Buy, PO €70 from €44. Bullish diversified (€59.55).u/c
ST MODWEN - Nine Elms interest on site sale. Commercial still robust (280.9)u/c
ITV - Sunday Telegraph talking down ITV bid spec over the weekend (165.2)...-1%
RBS - FT; shareholder settlement uncertainty on '08 rights issue (190.5)..-1-2%
EVONIK - We DOWNGRADE to Neutral; PO €28 from €31. Outlook weak for N&C (25)-2%
GIVAUDAN - We DOWNGRADE to Neutral; turning more cautious cons chems (1754).-2%
EDF - Spec may cut div payout to 50% to conserve cash v BAML at 60% (€9.6)..-2%
AKZO - We DOWNGRADE to Underperform, reducing our PO to €56 from €60 (56.4).-2%
SYMRISE - We DOWNGRADE to Underperform. More cautious on cons chems (€55.2)-2%
UNICREDIT - Amundi said to be in the lead to buy co's Pioneer biz (1.98)....-5%
ITALIAN BANKS - No vote wins, 59-41. Renzi set to resign this afternoon.....-5%
RBC
ACTELION +7% Speculation after hours of J&J bid increase north of $250/shr
ACTELION +7% Speculation after hours of J&J bid increase north of $250/shr
AIXTRON +2% Obama confirms he is blocking Chinese takeover of US unit.
BURBERRY +1% FT report company rebuffed takeover approach from COACH in summer
BMPS -20% Poor take-up of Debt/Equity swap, €1bln v €1.5-2bln expectation
BTG +3% Inclusion of treatment w/ pneumrx coils for management Copd.
DT BANK -2% To pay $60m to settle gold price lawsuit
FERRARI +2% Chinese dealers sold 3-months of cars in a day to beat sales tax
IAG -1% US D.O.T. grants foreign air carrier permit to Norwegian air.
RENAULT +1% NISSAN Nov car sales +10.7% and weaker Euro should help.
UNA/D.TEL +1% Both included in Barrons top 10 stocks picks globally for 2017
Macquarie
* Genel GENL- Receives full Tawke payment for September. +1%
* Genel GENL- Receives full Tawke payment for September. +1%
*IAG- Norwegian Air Shuttle to increase Trans-Atlantic flights by 50% in 2017. -1%
* Purple Bricks PURP-Revenues grew 159% to £18.7m, confident outlook for future. Unch
* RBS- Reached settlement with 3 of 5 shareholder groups regarding the Shareholder Rights Litigation group (77% by value) Provisioned £800m -1%
* St Modwen SMP-Portfolio continued to trade well, expects H2 performance to be broadly inline. Unch
* Bookies: Stewart Kenny, Co-founder of Paddy Power writes an article to Irish Govt lobbying against FOBT’s (The Times). PPB, LCL, WMH all -2%
MainFirst
*AIXTRON-Obama blocks Chinese takeover of Aixtron (Confirmed).......+2%
*AIXTRON-Obama blocks Chinese takeover of Aixtron (Confirmed).......+2%
*ENGIE-US says Engie Unit violated Power Mkt Manipulation rules.....-0.5%
*NOVARTIS-CEO rules out counterbid for Actelion- SonntagsBlick.......+0.5%
*BURBERRY-Rejects multiple takeover offers from Coach(Comb $20b)....+1%
*BPOST-Intends to submit PostNL offer memo to AFM by 30th Jan.......U/C
*ACTELION-J&J's increased offer for Actelion to be north of $250....+7%
*HELLA-Read across from Panasonic buying ZKW for €834m..............+1%
*RYANAIR-Nov Passengers 8.8m,Load Factor 95%,Trafic +15%............+1%
*CS-To cut as many as 1,300 Swiss jobs - SamS reports...............-0.5%
Investec
UK
UK
* ANGLO-PIC to drop platinum spin off calls (S.Telegraph)...................+1%
* BOOHOO-Press reports is looking to acquire Nasty Gal Inc(US).............unch
* BURBERRY-Has said to have rejected approaches from Coach(FT)............+2-3%
* CAMBIAN-Sells adult service business for £377m cash.....................+5-7%
* ITV-Liberty Global "enough to do" without bidding for ITV(S.Telegraph)...-1/2%
* PURPLEBRICKS-H1. Rev ahead on increasing mkt spend. Confident outlook.....unch
* ROYAL MAIL-Seeks Private Company to run Public Pension(S.Telegraph)......unch
* RYANAIR-Stats. LF 95%(vs 93%) Traffic +15% vs '15.........................+1%
* ST.MODWEN-Q4.Expects performance in 2H to be broadly in line with 1H....unch
* TARSUS-Acq's of Connect($44m)Raising £24m at 235p(closed 248p)............-2%
* WANDISCO-Appoints new NED and SVP of Finance to be new CFO...............unch
* WIZZAIR-Stats.LF +1.1%, passengers +19.1% YoY. Launches Wizz Go...........+1%
Euro
* ACTELION-J&Jtlks said progress, offer seen >$250...........................+7%
* AIXTRON-Obama backs CFIUS to block US sale, Spec Sits comment follows.
* CSGN-to cut up to 1300 jobs (SaS).........................................-1%
* DBK-to pay $60m gold price fix fine.......................................-2%
* ENGIE- US says Engie unit violated mkt manipulation rules.................-1%
* INTERTRUST-Parvus raises stake above 5%...................................+1%
* NOKIA-pushed in Barron’s article today..................................+0.5%
* REPSOL-sells Indonesian LNG plant for $313m...............................U/C
* TOMTOM-plans major reorganisation of consumer unit........................+1%
* UNICREDIT-starts talks w/AMUNDI on Pioneer sale. Sector weak on referendum.-??
* ZALANDO-plans entry into cosmetics and personal care(EaS)...............+0.5%
* IAG-Traffic Stats due later
CS
Actelion +3% J&J’s Raised Offer for Actelion said north of $250/Shr, BB
Banks -2-3% Negative readfrom Renzi losing referendum
Burberry UNCH Rejected multiple takeover approaches from Coach, FT
Italy Banks -5-6% Renzi the lost the referendum as 59% voted 'NO'
Miners +0.5-1% Copper +1.50%, Brent -0.10%, Iron Ore +5.55%, China -1.85%
Oils UNCH US rig count +4, Brent -10bps to $54.1, WTI -40bps to $51.1
Prudential +0.5% Has begun a review of its £45bn pension liabilities biz
RBS M/P Settles 77% of 2008 shareholder rights issue litigation
Ryanair M/P Solid traffic stats Load factor +2% at 95% and Traffic 15%
TradeGate
DBK -2%
DBK -2%
ISP -7.7%
GLE -1.3%
BMPS -11%
RWE -1.4%
ENEL -1.5%
CBK -1.4%
DB1 -1.2%
PSM +0.5%
TLX -2.4%
ZAL -1.6%
SZG -1.6%
COV1 +3.1%
AIXT +2.5%
Julius Baer
ATLN +7.2%
Julius Baer
ATLN +7.2%
CSGN -1.7%
UBSG -1.8%