ML
PETRA DIAMONDS - Recovery of a 121.26 ct White Diamond at Cullinan........+3%
TDC - Sales of Swedish biz to Tele2. Proceeds likely used to deleverage.+2-3%
ALTICE - Revamps managementt, Drahi stays in control; Le Figaro.........+1-2%
AXA - New 5yr strategic plan looks broadly inline. At top end of BAML ests+1%
DIALOG - Senti +ve. Largan's pipeline remains steady for next 2 months....+1%
WHITBREAD - Relied. Premier Inn RevPAR weak but not as bad as feared......+1%
ICAP - We UPGRADE to Buy, PO 500p. Trading under 15x Mar18 ests post split+1%
CS - CEO said to tell staff its wrong to expect additional capital raise+0.5%
SAGA - Makes statement ahead of AGM. On track to achieve its '17 targets..u/c
KUKA - Investor Loh (currently holds 8.5%) rules out counterbid for Kuka..u/c
SPORTS DIRECT - In talks with Modells for joint Sports Authority store bidu/c
SIG PLC - Nothing done. SIG SHI refinancing of £130m placement notes......u/c
RICHEMONT - Value of wristwatches -21.3% in May aft adjusting for FX......-1%
TELE2 - Buys TDC Swedish biz for SEK 2.9bn. To undertake 3bn rights issue.-1%
SWATCH - Negative. Value of wristwatches -21.3% in May aft adj for FX.....-1%
UK MINERS - Copper -0.7%, Iron Ore -0.4% with BHP OZ -1%, RIO OZ -1.5%..-1-2%
JUST EAT - CFO stepping down end of Sep, to be replaced by Paul Harrison-1-2%
BHP - Nothing done. FY16 Met Coal target raised, thermal guidance trimmed.-2%
PETROFAC - Inline. Backlog down to US$19b and net debt increase the focus.-2%
GLENCORE - Said to have pulled out of Anglo American sale of coal assets..-2%
NORDEA - Press report capital shortfall. Denied by co. FSA reviewing....-1-2%
IMI - Negative read across from Senior warning on weakness in US market.-1-2%
KION - Agrees to buy Dematic for $2.1bn. Plans to fund with bridge loan.-2-3%
CHEMRING - Warning. FY16 anticipated to be slightly below market exp......-5%
SENIOR - Warning on weakness in US. H1 margins to be lower than exp....-8-10%
CS
AXA -1-2% Seeks cumulated EU28-EU32b OCF, cons more like 34bn
Anima unch Pop Milan overhang story, but U/G'd away
Berkeley Grp M/P (bbg) home sales in London's best districts at 10 yr lows
Kuka M/P Investor Loh (holding 8.5%) rules out counterbid for Kuka
Miners -1% Aussie names opened on highs and gave back 1-1.5% since
Oils -0.5-1% Oil ADRs sold off into the US close c.75bps
Richemont -1% Swiss exports fell further 10% in May, inline with April
Saga M/P Trading update reads inline, on-track to achieve FY target
Sanatnder -1% Oi bankruptcy filing to weigh heavily on banks’ provisions
Santhera +0.5% EMA has validated Marketing for Raxone
Senior -3-5% Flexonics division reads poor, Q2 remains challenging
Stada M/P Hired banks to assist in maintaining independence
Stock Spir +1% Debt high than cons, but co announced a special divi of 10p
Swatch -1% Swiss exports fell further 10% in May, inline with April
Tele2 -2% Tele2 acquires TDC Sweden. Enterprise Value of SEK2.9b.
TDC +2% Tele2 acquires TDC Sweden. Enterprise Value of SEK2.9b.
VW -1% Evidence of addn class actions and co defends exec pay
Whitbread +1% Premier Inn & Costa lfl's better, confident of progress