ML
HEINEKEN: 1Q volumes strong, org beer volume +7% vs 2.4% cons.............+3%
WTB: Accor's UK revpar should help Whitbread today........................+2%
GENMAB: U/G guidance, projecting US revs of $400m-$450m vs 250-300 prev...+1%
TLSN: Revs 1.8% miss, but EBITDA 3% beat and '16 guidance raised..........+1%
ABB: Orders and profits beat consensus, Revenues in line..................+1%
VOD: We U/G to Buy, growth acceleration ahead, 3% upside to EBITDA........+1%
MONY: Revs +9%,insurance momentum improved,strong growth in credit cards..+1%
SYNGENTA: Q1 sales flat in local currency, down 7% in USD................unch
ARM: 1Q16 revenues 2% ahead, EPS 1% ahead of consensus...................unch
GKN: Group revs £2,179mn, +1% organic, in-line with cons £2,168mn........unch
BLT: inline w our forecasts, 4% cut to iron ore guidance expected.........-1%
ACCOR:1Q16 Group RevPAR +0.4% in line driven by France -2.5% v BofA -4%...-1%
HOCHSCHILD: Q1 production in line, Net Debt slightly better...............-1%
ASML: Q1 revs €1.3bn, EBIT €231m in-line, Q2 guide +1% ahead of cons......-2%
BUNZL: Q1 IMS inline, though lack of new bolt-on M&A might disappointment.-2%
HANDELSBANKEN: Net Income miss (4.04bn vs 4.18bn). Fee Income fell 6%.....-3%
ZODIAC: 1H results, big miss on op profit & further risks from FAA recall.-5%
CS
ABB +1% Op profit 5% beat, orders better, USD50m one off
Accor +2-3% 1Q revs slightly light, Jin Jiang's stake risen to 14.98%
Arm +1-2% Q1 Rev 276.4 mln est 272.6mln
ASML -1-2% 2Q rev outlook beats ests, gross margin light
Autos -1% Mitsubishi motors -18%, improper fuel economy tests
Banco Sab M/P CS reinstate with NEUTRAL (Valuation)
BHP Billiton -2% FY16 prod inline, expectations met in all key businesses
Brown Group -1% FY revs 1.5% beat, challenging mkt conditions
Bunzl M/P H1 underlying revs flat YoY
Gam -3-4% AuM Chf67.3b (CSe 70.8b), cautious on outlook
Genmab M/P Updates financial guidance inline with market
GKN M/P Statement inline with market expectations
Heineken +2-3% Beer volumes strong +7% est +2.4%
Hochschild M/P On track to achieve its full year production target
Miners -1% Copper -0.25%, Brent -2.45%, Iron Ore +0.65%, China -4.01%
Moneysuper M/P Trading inline, confident of meeting its FY outlook
Novozymes -1% Co keeps guidance for the FY, cuts EBIT growth
Oil -2% Oil lower o/n, Brent -2.45% to $42.95, WTI -2.9% to $39.9
Paddy Power -2% CS reinstate with UNDERPERFORM (Cost synergies poor)
Punch Tav +2% LFL Net income growth of 1.6%, disposals ahead of target
Repsol -2-3% CaixaBank may sell stake for BPI deal
Rentokil +1-2% Org growth in Q1 was 2.8% (vs 1.8% last year)
SAP M/P No's inline with pre-announce, re-iterates 2016 forecast
SHB -2% Adj Net 4% miss, NII 1% light, fees 4% below
TeliaSonera +2-3% Numbers better and raises profit outlook
Telefonica -1-2% CaixaBank may sell stake for BPI dea
Temenos +2% Sales up 24% yoy, management confirmed its 2015 outlook
Trav Perk +2% Q1 LFL 4.2% mkt around 3.5-4%
Virgin Money M/P Short trading statement inline with expectations
Zodiac -3% H1 revs inline, op income looks light
MF
ABB-Ebita 943m(865),Sales 7.903b(7.98),co sights slow China...........+1.3%
*SYNGENTA-Sales 3.74b(3.72),EMEA 1.75B(1.77),NA 986m(996),FCF '16 1b+..-0.5%
*ASML-Rev 1.33b(1.32),Net 198m(184),GM 42.6%(42.6),Q2 GM 42%(46%)......-2%
*ZODIAC-Rev 2.489b,Net 48.9m,Sees +ve vol effect in H2.................-5%
*SARTORIUS-Rev 301.9m(299),Ebitda 72.3m(71.13),NP 29.3m,FY ok..........+1%
*GAM-AUM CHF114.7b(117.8),H1 performance fees lower vs last yr.........-1.5%
*GENMAB-Raises 2016 f/casts as Darzalex drives sales...................+1%
*TEMENOS-Rev 129.4m(124.2),Lic Rev 26.9m(24),Ebit 22.2m(19.8)..........+1%
*SAP-Finals Op CF 2.48b,confirms FY guidance Rev 2.95-3.05b............+1%
*VONTOBEL-Q1 update client assets CHF142.3b,Q1 weaker lower activity...-1%
*FIELMANN-PT 54.1m,External Sales 372.1m,Cons Sales 316.4m.............-4%
*NOVOZYMES-Rev 3.61b(3.61),Ebit 950m(976),Net 745m(729),PT 955m(938)...+1%
*HEINEKEN-Cons Beer Vol 43.5(41.5),Org Beer Vol +7%(2.4),$ & € +ve.....+2%
*ACCOR-Rev 1.16b(1.19),LFL Sales +1.9%(0.3),Revpar Grth 0.4%...........+2%
*TELIA-Sales 20.4b(20.8),Ebitda 6.22b(6.01),Raises FY guidance.........+1%
*SVENSKA H/BK-Net Inc 4.04b(4.18),NII 6.8B(6.85b),FCI 2.17b(2.27)......-2%
Investec
* ABB-Q1 ebitda $943m Vs est $865m, cautious o'look re fx & oil..............+2%
* ACCOR-Q1 lfl sales +1.9%(est +0.3%),overall good start.....................+1%
* ASML-Q2 sales ahead at €1.7bn Vs €1.65bn, Q2 margin guidance light.........-1%
* CARLSBERG- +ve read from HEIA results, we traded 250k y’day, ongoing flow..+1%
* GAM-Q1 AUM falls 4%, sees lower H1 performance fees........................-1%
* GENMAB-raises FY guidance on Darzalex royalties............................+5%
* HEINEKEN-Q1 org beer vols +7%(est +2.4%),looks blowout but keeps guidance..+3%
* NOVOZYMES-Q1 rev in line,net btr. FY sales lwrd on FX,unch on org basis....-1%
* SAP-Q1 confirms pre announced data, confirms guidance......................+1%
* SARTORIUS-Q1 sales and ebitda look small beat, confirms guidance...........+1%
* SHB-Q1 net misses by 3.5%, fees & comms 4% light, CETR1 ratio ok...........-2%
* SYNGENTA-Q1 in line,ChemChina deal complete by yr end(in line)............unch
* TELIA-Q1 sales in line, ebitda 3% ahead, raises FY ebitda guidance.........+2%
* TEMENOS-Q1 looks solid, confirms guidance, hear -ve broker comment away....+1%
* VOPAK-AGM today, confirms outlook, shares volatile last few days...........U/C
* ZODIAC AERO-H1 miss, keeps guidance(mkt won't believe), hit 3% into close..-5%
* ARM HDGS-Q1.Sales ahead, PTP a miss.See FY rev in line.Weak into stmtn...+2%
* BHP Billiton - Q3 In line.Cuts Iron Ore g'nce. Sector Strong ..................+2%
* BUNZL-Q1.Rev +13%,Trends similar to H2 '15. In line with exp's.
.........unch
* ENTEQ-Update. In line with exp's. Chairman stepping down in Sept........unch
* GB GROUP.PreClose.Inc's FY adj. op. pft g'nce to £13.4m.CEO to retire....+2%
* GKN-Q1.Rev +12%, margins lowers. O/look mixed............................-1%
* MONEYS'MKT-Q1.Rev +9%.Confident in meeting FY exp's......................+1%
* N BROWN-FY.FY in-line,trading since year-end subdued.....................-2%
* PUNCH TAVERNS-H1,in-line with management exp's,disposals prog' ahead.....+1%
* RENTOKIL-Q1.Integration of Steritech going well.Conf FY will be i/l.....unch
* TRAVIS PERKINS-Q1, in-line, LFL sales growth of 4.2%.....................+1%
* VIRGIN MONEY-Q1.In-line with est's.Investor meeting today(credit cards).unch