ML
** Day 1 of BAML BUSINESS SERVICES, LEISURE & TRANSPORT conference...........
* BRAVIDA - Bain Capital selling 20m shrs @ ; MS/Nordea joint bookrunners....
KUKA - Midea to offer EU 115 per Kuka share in cash, already own 10%.....+30%
FIAT - Chinese partner, GAC might consider buying majority stake of Fiat..+5%
DELTA LLOYD - Solvency ratio 154% should be enough to reassure the market.+5%
BURBERRY - FY16 PBT -10% is inline. Cost savings higher than expected...+2-3%
SSP - Good. Margin ahead +50bps v BAML +30bps, momentum & outlook strong+2-3%
ORIFLAME - Q1 EBITDA 5% beat at EUR 27.7m v 26.4m cons. Positive into Q2..+2%
G4S - Local media suggests making progress with sale of its Israel bus....+2%
DASSAULT AVIATION - We INITIATE with a Buy rating, PO €1,225 (20% upside).+1%
NOVARTIS - Phase 3 trial of LEE011 in breast cancer meets endpoint......+0.5%
MARSTONS - Inline, trading solid. 1H16 EBIT £70.5mn. Outlook in inline..+0.5%
GALLIFORD TRY - Building division wins 2 new contracts worth GBP 102m.....u/c
RATHBONE BROS - FUM reach £29.3b and fee income £37.7m, +8.3% YoY.........u/c
PERNOD - Confirms sale of the Paddy Irish Whiskey brand to Sazerac. No #s.u/c
SSE - PTP £1513m v £1512m. EPS 119.5p at top end of guidance. DPS 89.4p...u/c
UBM - Performing inline with f/c's. No detail apart from warranty claim.-0.5%
PHILIPS - Small +ive. Lighting IPO said to be covered on full deal size.-0.5%
SAFRAN - Said accepting bids for Morpho Unit according to Le Figaro.....-0.5%
CARLSBERG - Chairman says that brewer will remain independent; FT.......-0.5%
UK MINERS - Copper -1%, Iron Ore -1.8% with BHP OZ +1.5%, RIO OZ unch.....-1%
ARM - Announces the acquisition of Apical (computer vision) for $350m.....-1%
FRAPORT - CEO Schulte says EasyJet seeking slots. Maintains FY EBITDA f/c.-1%
SONOVA - FY EBITDA 430.6 v 437.6 cons. Expects EBITDA to rise 3-7% in LC-2-3%
WINDELN - Warning. Cut FY16 outlook implying c.14% cut to cons rev ests..-15%
shore
MARSHALLS - UK revs +1%,well placed to deliver on targets,+tive outlook....UNCH
PATISSERIE - Strong H1,revs +14.4% £50m,PBT +20.6% £8.4m,sees FY inline.....+1%
PLAYTECH - daily avg revs inline,healthy M&A pipeline,confident outlook....UNCH
JOHNSTON PRESS - grp revs -13.7%,ad revs -16.9%,saw improvement in April...UNCH
SSP - LfL sales +3.3%,oper.pft +28% £30.9m,margins +50bps,H2 starts inline..+2%
SABMILLER - Fy ptp $4.07b(Est$4.58B).Fy divi 122c.Strong underlying growth..-1%
BURBERRY - Fy pbt 416m.Revs 2.5b.Divi 26.8p.Environment remained challenging+2%
COUNTRYSIDE - H1 revs 312.8m.Firmly on track to deliver 2016 expectations...+1%
MARSTONS - H1 ptp +11.8%.Int divi 2.6p.Says fy plans on track...............+1%
SAFECHARGE - AGM,Says Q1 rev and gross profit ahead of budget...............+1%
RATHBONE - FuM +0.3% £29.2bn,acquired inflows of £134m,fee income +8.3%....UNCH
CS
Airbus M/P QATAR ceo saying walked away from 1st A320 neo delivery
AsraZeneca -1-2% Co says Lynparza didn't meet goal in Gastric Cancer
Burberry -2-3% £100m cost savings, £150m buyback, outlook cautious
Flug Wien M/P Q1 revenues, EBIT and EBITDA inline
Galliford Try M/P 2 contract wins totalling £102m
Genmab +0.5% Arzerra Expanded Use Gets Priority Review by FDA
Kuka +30%+ Midea offers to buy remaining shares at EU115, 36% premium
Leasinvest RE M/P Q1 net rental income and EPRA NAV inline, confirms FY
Marshalls UNCH No's inline, remians well palced to deliver initiatives
Marstons +1-2% PBT 33.1m vs cons 32.53m, revs 428.7m vs cons 418.5m
Miners -1% Copper -1.20%, Brent +0.05%, Iron Ore -1.55%, China -1.43%
Novartis +0.5% Says LEE011 in Breast Cancer meets primary endpoint
Oriflame M/P 1Q sales 305.8m cons 294.714m
Playtech M/P AGM statement and outlook inline with expectations
SAB Miller R Company reports numbers today
Sonova R Sales Chf2071.9 cons Chf2098, Proposed divi of CHF 2.10
Skyepharma M/P No's inline, expect strong growth in revenues for FY
SSP Group M/P LFL sales +3.3% maybe slightly light, outlook inline
SSE +2-3% Numbers inline but guidance very strong
UBM M/P AGM, Outlook for FY unchanged. Performed inline