ML
ZODIAC - Q3 sales beat and guidance maintained for op profit. SI 6.5%.....+5%
INDITEX - Solid. EBITDA +1% ahead driven by top line with revs +17%.......+2%
JIMMY CHOO - Trading update inline but stock -15% in last 2 months......+1-2%
AIRBUS - Found temp solution to replace defective part of engine; Echos.+1-2%
UK MINERS - Copper +0.6%, Gold +0.2%, Iron Ore fut unch with BHP OZ -1.1%.+1%
INFINEON - +ve on Auto demand as Chin Poon suggests orders full until YE..+1%
OXIG - FY inline with EPS ahead at 49.2 v bbg cons 48.6. Net debt better..+1%
SCHNEIDER - Aveva terminates takeover talks with Schneider Electric.......+1%
SAS - Says reached wage agreement with Swedish pilot union. Ends strike.+0.5%
GALAPAGOS - R&D in US today. Of note 2 early stage drugs get through PI...u/c
TELENOR - First operator to remove EU roaming fees for Swedish customers..u/c
H&M - May sales +9% cFX, an improvement on 5% in Apr, v bbg cons +10.8%..u/c
ERICSSON - Dagbaldet now reporting 25k job reductions & divestment of biz.u/c
ABB - Said to consider rival bid if solicited by Kuka according to WSJ..-0.5%
YARA - We DOWNGRADE to Underperform, PO NOK 250 on deteriorating earnings.-1%
BERKELEY - PBT inline & on target for '18 BUT reservations -20% in 5mnths.-3%
AVEVA - Ends talks with Schneider. Think will trade back to Tues level....-8%
RBC PRE-MARKET INDICATIONS:
*ABB: 0% WSJ reports may consider rival KUKA bid.
*AVEVA: -4% terminate takeover talks with SCHNEIDER.
*BERKLEY GROUP: +1% Strong FY16 PBT ahead of guidance that was raised in March.
*H&M: -3% MAY sales up 9% versus estimated 11%, under pressure for Q2 results.
*INDITEX: +3% LFL sales +11% versus estimated +9%, above forecasts.
*JIMMY CHOO: +2% on track to deliver margin improvement, good start to 2016.
*RECKITTS: 0% rumours of PERRIGO (+9.6%) bid over night.
*SCHNEIDER: 0% AVEVA terminate takeover talks.
*WOLSELEY: 0% Census Bureau shows building material growth -3.6% in MAY.
*ZODIAC: +2% Q3 sales ahead of expectations, outlook cautious.
CS:
ABB unch Would consider making a rival bid for KUKA
Airbus M/P Co to deliver French Defense Ministry ninth A400M
Astra Zen +0.5% Farxiga gets tougher FDA warnings. (kidney treatment)
Autos +1% Decent bounce in Chinese peers Guangzhou (+3.7%)
Aveva -8-9%
CSFB pre mkt Termination of discussions with Schneider Electric SE
Berkeley grp -5% All inline, but outlook very cautious
Cosmo Pharma +2% Says Eleview has been granted the CE mark for mkting in EU
FCC +1% Inversora Carso exercises option to buy 9.45m FCC share
Iberdrola -1% IBE & RDS faces fine in US related to mkt manipulation
Inditex +1% Q1 revs 4.88 vs 4.84, EBITDA 955m vs. 942m
H&M unch Numbers look light but stock on 3 year lows
Jimmy Choo +3% Made a good start to the year, trding inline
Kuka +2-3% Midea Offer for Kuka Shares to Begin Tomorrow (€115/sh)
Luxottica +2-3% CS initiated with O/P on valuation
Michelin unch May tyre data a touch soft, European volumes -2%
Miners +1% Metals holding up, Aussie names +1%
Oils unch API surprisingly negative, ADRs added 50bps
OVS -1% Results mixed, sales a little disappointing
Oxford instr M/P FY revs £361.4m is slightly ahead, OUTLOOK INLINE
Royal Dutch -0.5% IBE & RDS faces fine in US related to mkt manipulation
Restaur grp M/P New CFO from Monarch travel group
Rheinmetall -1% Subsidiary said to be hacked by Chinese
Schneider +2% Schneider/Aveva terminate talks
VW +1% Said to Plan Merging Components Units, Weigh Asset Sale
Zodiac +3-5% No incremental negs, revs 5% ahead of consensus exp