ML
* ABERTIS - Placing of $900m, priced EUR 11.75. UBS/JPM/BAML bookrunners.....
MCCARTHY & STONE - Reassuring statement. Mindful of EU referendum impact+5-7%
SOPHOS - Q1 billings ahead with LfL growth exp in range of 20%-23% YoY....+5%
COBHAM - Positive hire. Appoint David Mellors from QinetiQ as new CFO.....+5%
GREENE KING - EBIT 0.5% & EPS 3% ahead of BAML, recent trading solid....+3-4%
DIXONS - PBT £447m v £445-450m. £30m incremental EBITDA in 2017/18......+2-3%
STAGECOACH - Messy. '16 inline but disposal of retail ops of Megabus....+2-3%
KBC - We UPGRADE to Buy, PO EUR 55.8. Will turn into great capital story..+2%
CRED AG - We U/G to Neutral, PO EUR8.9. Drag on earnings partly priced in.+2%
HOMESERVE - Continues to trade inline. Profits will benefit from FX.......+2%
BURBERRY - We UPGRADE to Buy, PO 1250. Supported by FX tailwind. SI 9%....+2%
RECKITTS - Restarts share buyback, to buy 5m shrs between 29 Jun & 31 Aug.+1%
UK MINERS - Copper -0.15%, Iron Ore -0.56%, Gold +0.36% & BHP OZ +2%......+1%
DANONE - Venture Cap arm takes min stake in Michel et Augustin. No fins...+1%
ITV - Press spec that Liberty Global may try to buy the co; London Times..+1%
BUNZL - Inline. Rev growth +9% inc org +0%. M&A pipeline remain active....+1%
ABN AMRO - We DOWNGRADE to Neutral, PO EUR17.3 despite 6.4% div yield 17E.u/c
ADIDAS - NKE US -4% aft hrs on future orders below exp (+11% v +13%e)..u/c-1%
BRAMMER - Warning. H1 PBT now expected to be £5m vs BBG FY exp £28.6m.-25-50%
CS:
Adidas UNCH Nike -6% after hours on deceleration in North America
Adidas UNCH Nike -6% after hours on deceleration in North America
Alstom +2% Hitachi and Alstom win Italy train order
Amec M/P Contract win from the UK Ministry of Defence
Asos M/P CMD - no new financial news out
Bunzl M/P Growth inline, a couple of small acquisitions
Dixons M/P PBT and dividend inline, LFL already known
Electrocomp -1% CS DOWNGRADE to NEUTRAL (Valuation)
Gam +3% To buy Cantab Capital for $217m, they have AUM of $4b
Geberit M/P Is selling the Koralle Group to AFG Arbonia-Forster
Greene King +3-5% Revs inline, Co highlight a strong start to the year
Helvetia M/P CEO Stefan Loacker is stepping down
Intesa +2-3% Mr Renzi wants to use State Aid to buy bad loans from banks
ITV +2% Times & FT mention potential M&A
Miners +1% Copper -0.15%, Brent +2.10%, Iron Ore -0.35%, China +0.39%
Oils +1-2% API Crude inventories -3.86m barrels, Brent +2.1% to $48.8
SAP +2% Added to the CS European & Global FOCUS LIST
Snam +2% CMD - proposes a share buyback programme for max EU500m
Stagecoach M/P Numbers slightly light but keep guidance
Stagecoach M/P Numbers slightly light but keep guidance
Unicredit +2-3% Mr Renzi wants to use State Aid to buy bad loans from banks
Mainfirst:
*SNAM-Approves spinoff of Gas Dist,to keep 13.5% stake in newco...+2%
Mainfirst:
*SNAM-Approves spinoff of Gas Dist,to keep 13.5% stake in newco...+2%
*ABERTIS-OHL sells 7% stake,priced at €11.75 vs clse €12.895......-5%
*GEBERIT-Sells Koralle Group to AFG Arbonia-Forster-Holdings......+1.5%
*GAM-Buys Cantab Capital for $217m + d/consideration(AUM $4B).....+1.5%
*HELVETIA-Grp CEO Loacker steps down,replaced by Philip Gmur......U/C
*ADIDAS-Read across from Nike Q4 Rev inline,future orders weak....+0.5%
RBC:
*ABERTIS: -7% OHL sold 69.3M ABERTIS in placing at 11.75.
RBC:
*ABERTIS: -7% OHL sold 69.3M ABERTIS in placing at 11.75.
*ADIDAS: +1% NIKE read through, NIKE -4% on weak no.s, market share loss.
*ANGLO: +2% disposal of BRAZIL phosphates/niobium business, miners +2%.
*BUNZL: -2% H1 trading update inline, FX pressure, no margin/outlook.
*COBHAM: +2% appoints new CFO DAVID MELLORS from QINETIQ.
*DIXONS: +3% FY +5%, net debt better, positive on connected world services.
*ECM: -2% warning from BRAMMER in UK/Europe, MAY weakness continues.
*G.KING: +2% FY revenue in line, strong start to 2016. Synergies ahead.
*HOMESERVE: +2% continues to trade in line, 5 new affinity partnerships.
*ITV: +3% FT article speculating merger talk.
*SNAM: +2% positive strategic plan, dividend boosts and buy-back.
*STAGECOACH: +1% FY results broadly in line, tad weak trading result.
*TUI/TC: -1% ISTANBUL terrorist attacks may have negative implication.
*VEOLIA: +1% contract extension, plans to cut approx. 430 jobs in FRANCE