ML
* LSE/DB1 - ICE said to explore rival bid for LSE to thwart D. Boerse....RSTR
ROTORK - FY15 small beat and order in-take “less bad” in Q4,4% short base.+5%
JUST EAT - FY EBITDA a 3$ beat and EBITDA guidance implies 8% u/gs........+5%
ZALANDO - EBIT a beat v BAML and guides to top end for revs, looks solid+3-4%
DIRECT LINE - PBT of £192.5m vs cons for 2H of £135.9m, comb ratio driver.+3%
SWISS LIFE - Net profit 6% ahead driven by savings,div CHF 8.5 v 8.26 est.+2%
TULLETS - Revs in Line , PBT and EPS small better than cons.............+1-2%
HELICAL BAR - Good progress on developments. Sales continue at Barts SQ.+1-2%
ACCIONA - Net at EUR 207m bang in line, EUR 2.5 div v cons at 2, u/g away.+1%
KLOECKNER - Numbers bang in line with pre-release, no -ve surprises.......+1%
GEORG FISCHER - FY EBIT a 5% beat and div CHF 18 v 17 est, guides in line.+1%
SMIN - small positive from triennial review of UK pension scheme.........u/c
TAYLOR WIMPEY - Results 1% better than est, dividend as expected..........u/c
PSP SWISS PROPS - EPRA NAV a small beat and small div increase reassuring.u/c
GLENCORE - Underlying EBIT a 13% miss v cons, net debt touch higher.......u/c
ELEMENTIS - Sales 2% light v cons and EBIT a 3.5% miss, 8p special div....u/c
RANDGOLD - We DOWNGRADE to Neutral, PO to 6,700p from 6,600p..............-1%
ASHTEAD - Q3 results in line, guides lower on capex but no cons upgrades-1-2%
MONY - FY revs in line, op prft looks better at £80.5m as does EPS........-1%
FRESNILLO - FY15 EBITDA a 7% miss v cons, 2% when adj for non-cash items..-2%
OERLIKON - FY sales in line but EBITDA lower & net loss higher, CEO exits.-2%
ACERINOX - FY EBITDA 1% light, net debt materially higher, weak outlook.-2-3%
BARCLAYS - Adj PBT £5.4bn v 5.77bn est, capital better but cuts 16/17 div.-3%
IPSEN - Q4 small beat but 2016 margin guidance implies 5% downgrades......-3%
CS
Acciona UNCH 2015 Net Income inline, EBITDA inline, revenues small miss
Acerinox -3% EBITDA €42m cons €45m, outlook looks slightly light
Ashtead -2-3% Q3 EPS is a 4% beat, capex guidance worse
Aviva +1% Osborne under pressure to soften plans for pensions reform
Barclays -2% Messy numbers, dividend cut
Burberry UNCH Vague bid spec in the FT
Centrica +1% Additional capacity for winter 2017/2018, was 2018/2019
Deut Boerse -1-2% ICE Said to Explore Bid for LSE to Thwart Deutsche Boerse
Direct Line +1% Numbers slightly ahead of market expectations
Drax +5% Additional capacity for winter 2017/2018, was 2018/2019
GAM Holding -3-5% PBT a beat, big net new money miss
Georg Fis +1-2% Sales inline, EBIT and dividend small ahead
Glencore +1-2% EBITDA $8.7bn cons $8.7bn, aiming for lower net debt
Indra -2-3% Revenues c1% light, adj EBIT inline, outlook conservative
Ipsen -1-2% Sales beat, costs higher, dividend flat
Jardine Lloyd -2% Revenues inline at 1.16b cons 1.17b, commentary cuatious
Kloeckner M/P EBITDA €11m vs CS ests €10m, net debt reduction better
LSE +5-7% ICE Said to Explore Bid for LSE to Thwart Deutsche Boerse
Moneysuper +1% Profits 1% ahead, EPS a small beat, outlook better
Miners M/P Copper -0.25%, Brent -0.45%, Iron Ore +2.70%, China +1.59%
Oerlikon +5-7% New CEO, implementing new strategy, outlook reads fine
Philips +1-2% Chinese investor GO Scale said to bid for Philips Lighting
PSP +1% FY rental income 275mln vs cons 279.4mln, guidance inline
Regus M/P Revs 1927m cs 1954m, debt a little higher, outlook inline
Rotork +2-3% FY revenues 2% beat, operating profit 2% beat
Santander -1% Announced USD1.8bn writedown
SSE +2% Additional capacity for winter 2017/2018, was 2018/2019
Stan Life +1% Osborne under pressure to soften plans for pensions reform
St James +1% Osborne under pressure to soften plans for pensions reform
Taylor Wimp M/P FY earnings inline, maintains previous cap return guidance
Ubisoft +3-5% Vivendi says it owns 15.66% of Ubisoft, vs 11.5%
Umicore -2% Loses first round in BASF patent fights over batteries
Weir +1-2% Possible U.S. parties interested in bidding. FT
MainFirst Pre Mkt Indications...
*DB1-ICE said to explore rival bid for LSE(+5%),wait till March.....-1.6%
*BMW-Mood in China more stable,sees SD sales grth,adding dealers....+0.5%
*VW-Mueller says in constructive talks with US,+ve f/b China/Germ...+1%
*VIVENDI-Raises offer for Gameloft to €7.2(6) & Ubisoft stake.......unch
*SWISS LIFE-Prems 18.9b(19.2),NP 878m(846),Divi 8.8(8)..............+2%
*OCERLIKON-Net -418m(-336),Sales 2.67b(2.7),CEO leaves +ve news.....-2.4%
*KLOECKNER-Q4 Rev 6.44b(6.4),Ebitda 2m(-2),NI -263m(-246),O/L ok....+3%
*ATLANTIA-Weighting sale of 30% stake in Autostrade Unit-Sole.......+0.5%
*FISHER-FY Sales 3.64b(3.65),Ebit 296m(282),Net 198m(187),o/l ok....+0.5%
*GAM-FY Op Inc 600.6m(584),Net 158.4m(146.2),AUM 119b(121.8)........unch
*PSP-FY Rental 275.1m(276.1),Net 187.7m(177.8),Div 3.3(3.25)........unch
*DIC-FY Rent 136.7m(134),FFO 47.9m,Pft 20.7m,FY16 Rent 100m.........+3.4%
*ZALANDO-Rev 2.96b(2.964),Ebit 107.5(105.96),Guidance look ok.......+2.5%