CS
ABB +1-2% ABB will sell its HV Cables division to NKT
Autoliv -1% Takata said to receive five bids, with AUTOLIV among them
Banks +2% BoJ did not cut rates, Japanese banks +7%
Eurofin +2-3% Company raises 16 revs 2.9bln vs con s 2.76bln
Imp Tobac -1-2% CS D/G to N - Difficult to see revenue growth
Inditex +1% H1 sales beat, net better, margin inline
Oils +2% Crude +1% overnight after API showing supply drop
Miners M/P US miners flat, Rebar -70bps, Shcomp +15bps
RBS unch Santander Ends Talks With RBS to Buy Williams & Glyn (FT)
Saga +2-3% Quality beat, no brexit impact, guidance solid
Santander +2-3% Ends Talks With RBS to Buy Williams & Glyn (FT)
Swisscom +0.5-1% Says Guidance Unchanged Despite Drop in Swiss Business
COMMERZ
BAYN +0.6% Monsanto termination fee under Bayer merger agreement $1.85bn
DPW +1.1% Fedex Q1 beat, outlook solid at the EPS level, however x-read limited
EVT +3.6% And Bayer partner to develop treatments for kidney diseases
JEN -3.4% CEO Michael Mertin won’t extend contract beyond 2017
UN01 –0.3% Investec starts with Buy – PT €12
SAP +0.4% Adobe's Q3 + incr Q4 EPS guid slightly above cons; we see ltd x-read
SEN +1.8% MS raises to Overweight (Equalweight) – PT €18
SWVK –4.4% Oddo Seydler cuts to Neutral – PT €5
SY1 +0.3% Expands board; Jean-Yves Parisot to head Diana/Nutrition
SZU +0.8% Nestle seeks €50m from sugar companies on price fixing
VOW3 +0.8% Truck unit to expand global presence after Navistar deal
RBC
*ABB: +1% selling cables business to NKT Cables for €836M enterprise value.
*ACCOR: 0% REUTERS article negative on French hotel bookings for Aug.
*AMERISUR: +3% expected to spend $52M in capex, 2017 guidance increased substantially.
*DASSAULT: +2% positive read from ADOBE (+5.15%) after hours on earnings.
*DBK: 0% underperform on HOENIG data, leverage ratio weak.
*DIAGEO: +2% trading update, confident achieving mid-single digit top line growth.
*DPW: +2% positive read from FEDEX (+3%) after hours on strong numbers.
*IMAGINATION: -1% concerns on iPhone 7 glitches, Asia suppliers underperform.
*INDITEX: +2% H1 sales impressive 11% v 8.7% consensus, sales & gross margin better.
*METSO: 0% to consolidate US Pennsylvania locations to one facility at York.
*SPH: 0% H1 revenue in line, on track to meet 40% FY sales growth guidance.
*TDC: +2% PRESS reports company hires JPM & MS in defence of APOLLO bid.
MAINFIRST:
*NESTLE-Seeks €50m from sugar co's on price fixing-Susddeutsche.....+0.25%
*INDITEX-Ebitda 2.11b(2.12),Sales 10.47b(10.4),Net 1.26b(1.24)......+1%
*BSCH-Ends talks with RBS to buy Williams & Glyn - FT...............U/C
*VIVENDI-CEO says intention isn't to launch Telecom Italia t/o......U/C
*BAER-Adding headcount in HK,Singapore in a big way,Acq's China.....+0.25%
*SEMPERIT-Says 2016 results will be well below results in 2015......-10%
*ENI-Delays plans for sale of domestic retail bizz worth $3.4b......-1%
*ALTICE-Said to delay SFR stake purchase by about two weeks.........-0.5%
*AUTOLIV-Along with others have bid for Takata(air bags)............U/C
*EUROFINS-Raises '16 pft objectives,FY Adj Ebitda 480m(460m prev)...+3%
*ZURICH INS-Combines Corporate & Commercial Ins into new unit.......+0.5%
*DEUT POST-Read across from FedEx stock +2.9% a/hrs,strong Q1.......+1%
*ABB-Sells Cable Bizz to NRT Cables for €836m ent.value,clse Q1.....+0.5%