ML
SAB MILLER - Extension on merger to November 4th, as per spec yday.......RSTR
SAB MILLER - Extension on merger to November 4th, as per spec yday.......RSTR
ROCKET - HelloFresh planning IPO, c. 20% of Rocket's NAV.................+10%
ENQUEST - confirm first oil at Alma/Galia in north sea, relief.........+5-10%
BT - UK's CMA gives provisional approval for BT's bid for EE..............+4%
ENI - Sells 12.5% stake in SPM to Italy's FSI, SPM to repay debt........+3-4%
SAIPEM - ENI sells 12.5% of co to FSI, rights issue announced for Q1 '16..+3%
HEINEKEN - Organic growth +7.5% v +4% cons, FX the -ve but reit guidance+2-3%
DSV - Sales a miss bnubt profit beats and co raises FY guidance...........+2%
UCB - Sales 3% ahead of cons, CNV franchise all ahead of expectations...+1-2%
DAILY MAIL - proposed sale of 38.7% equity stake in Local World Holdings+1-2%
BATS - Revenue Growth +4.2% vs Cons +3.1%, volumes better than est......+1-2%
K.WILSON - purchasing 9 offices let to the Italian govt for €186m.........+1%
TELENOR - EBITDA a 4.5% beat adj for subsids that have reported, solid....+1%
IHG - WSJ says Chinese bidders want Starwood hotels, HOT/HLT report today.+1%
PETRA DIAMONDS - Production run rating at 25% of our FY16E estimate.......+1%
MEDIOBANCA - Q3 revs and NII in line, net income beat on lower provisions.+1%
NEXT - Brand sales +7.3% v +6% cons, retail solid & directory much better.+1%
GAMESA - Wins a contract to supply 78 MW in New York......................+1%
BWIN - Total Revs -8% in the 9 months to Sept 30, deal on track.........+0.5%
EDP RENOVAVEIS - Numbers look in line with ests, little to move dial......u/c
RED ELECTRICA - Numbers look in line with ests, little to move dial.......u/c
SKANSKA - All in line with recent warning on US business..................u/c
TELIASONERA - Sees many bidders for Eurasia assets, DI reports............u/c
SOFTWARE AG - Confirms Q3 results post warning mid Oct, FCF +16% YoY......u/c
LINDE - Overall in line, FY guidance re-iterated, should be enough........u/c
DIALOG - Q3 revs, EBIT and EPS in line with pre-announcement, as is guide.u/c
GRAINGER - small regional PRS acquisition, £10.4m, 6.7% yield.............u/c
SNAM - Q3 EBITDA in line with ests at EUR 647m, sees demand in line w/ 14.u/c
STOREBRAND - Headline miss driven by marketrs, solvency also weak.........-1%
NUMERICABLE - Revs in line with capex 5.5% below est, guidance in line....-1%
MORRISONS - We DOWNGRADE to Neutral, PO to 190p from 235p...............-1-2%
ALTICE - Revs a 1.5% miss and EBITDA 0.5% light, poor rel to sector.....-1-2%
NN GROUP - Spec court no longer to rule on a woekerpolis case for NN....-1-2%
GEA - Orders -11.9% v -8% cons, EBIT 6% light, at lows and shorts rising..-2%
STATOIL - Q3 EBIT 5% light, net a big miss on impairment, $1bn capex cuts.-3%
LLOYDS - 9m underlying PBT 3% weaker than est due to lower other income...-3%
ULE/COB/SNR - -ve read from MGGT warning, none have reported yet..........-3%
MEGGITT - Expects FY15 profit meaningfully below cons, Q3 -1% organic.-10-15%
CS
Alten M/P No's inline, confirms tgt for org rev growth improvement
Altice -2% Q3 revenues inline, prime focus is op plans and US biz
Antofagasta -4% Production miss. Downgrade guidance.
BATS +1-2% Volumes and pricing strong
Barclays M/P Appointment of James E Staley as Group CEO
BT +2-3% Bid for EE likely to win regulatory approval
BWIN Party +2-3% Q3 revenues +9%, first time positive since Q2 2012
C&C M/P H1 sales 4% miss, Op profit 3% beat, Scotland/Ireland
Cobham -3-5% Read across from Meggitt profit warning
DSV +1-2% Q3 op profit 4% ahead of CS, op profit guidance higher
GEA Group -2-3% Q3 sales 3% miss, EBITDA inline, EBIT 2% miss
Healthcare +0.5% Strong in the US last night post earnings PFE,BMY,MRK
Heineken +1-2% Q3 sales beat analyst estimates due to weather
IHG +2% Chinese firms were seeking approval to buy Starwood (WSJ)
Leoni +1% CS upgrade to OUTPERFORM (Op execution offers upside)
Lloyds -2-3% Underlying profit light, CET1 at 13.7% vs 13.9%
Linde -1% Q3 op profit/cash flow slightly weaker, outlook unchanged
Marine Har M/P Q3 EBIT inline, revenues 5% beat
Mediobanca +0.5% Q1 revs inline, net income 5% beat
Meggitt -15%+ Profit warning, outlook meaningfully below consensus
Miners M/P Copper -0.55%, Brent +0.25%, Iron Ore -2.00%, China -1.14%
Next +1-2% Q3 Total Next Brand Sales rise 7.3% est 6.4%
Nexity M/P 9m revenues inline, confirms FY outlook
Numericable -1% 3Q revs inline, EBITDA 1% light, FY EBITDA slightly ahead
Red Elec M/P Q3 EBITDA and net inline, fully regulated util
Rocket Int +5-7% Announces plans for IPO of Fresh Food unit
Royal Dutch +1% $2bn writedown on Carmon Creek, showing Capital discipline
SEB SA +3-5% Q3 sales inline, raises 2015 objectives
Senior -2-3% Read across from Meggitt profit warning
Snam M/P Q3 EBITDA inline with Bloomberg cons, fully regulated util
Software M/P No's inline with pre-release on Oct 13th, confirms Q3
Stan Life +1% Flows solid helped by UK retail, AUM flat QoQ
Statoil -2-3% 3Q15: miss, better capex profile but the market was there
UCB +3-4% 9m revs 1% beat, raises FY forecasts
Unibail -1% No's inline, reiterates EPS target, disposals weaker
Telenor -1-2% Q3 sales NOK 31.8bln est NOK 31.6bln, lowers FY guidance
Ultra Elecs -2-3% Read across from Meggitt profit warning
MF
*GEA-Sales 1.11b(1.15),Ebit 122.6m(125),Ebitda 144m(142.9),Ord 4.52b..-1% *SKANSKA-Rev 37.3b(42.3),PT 774m(839),Good opps in all mkts...........-2%
*SEB-Q3 Sales 1.3b(1.128),Organic Grth 7%(6),Ebita 115m(105m).........+1% *MEDIOBANCA-Rev 507.1m(507.4),LLP 115.4m(123.3),NI 244.3m(232.6)......+1% *ENI-Sells 12.5% stake in Saipem to FSI(price 7.4-8.83),w/e spec......+0.5% *UCB-9m Rev 2.864b(2.84),Raises FY Pft f/c for Core APS/Ebitda........+1% *M/HARVEST-Rev 6.9b(6.6),Ebitda 1.04b(1.02),Ebit 720m(735)............+2% *STATOIL-NI 3.7b(5.1),Pft 16.7b(17.9),Divi 22c(22),Capex $16.5b.......-2% *TELENOR-Rev 31.8b(31.6),Ebitda 11.8b(11.4),Ebit 6.6b(7.1)............+1% *DSV-Rev 12.5b(13.2),PT 773m(748),OP 851m(820),FY GP/OP raised........+1% *LINDE-Rev 4.52b(4.56),Ebit 508m(547.7),OP 1.03b(1.05),NI 281m(317)...-2.5% *ELMOS-Cuts guidance,Sales 54.6m(55.77),Ebit 7.1m(6.1),Net 4.7m(4.6)..-10% *RED ELECTRICA-Net 139.96m(137),Ebitda 348.2m(346),Elections 20/12....+1% *SNAM-Rev 911m(891),Ebitda 674m(674),NI 276m(271),Co expects grth.....+1% *SOFTWARE-Confirms Prelims/updated FY15 guidance,NI 44.8m,Ebit 66.8m..-0.5% *HEINEKEN-Rev 5.51b(5.32),Org Beer grth 5.4%(2.6),Rev Grth 7.5%(3.9)..+3% *ABERTIS-Rev 3.32m(3.34),Ebitda 2.12b(2.16),Net 1.79b(1.85),SI 12%....-2%
Investec
UK
* ANTO another cut to FY production guidance, down to 635kt (from 665k)......-3%
* BATS 9m rev growth 4.2% Vs 3.1%, sees Q4 moderate, been strong into......-0.5%
* BT CMA provisionally approves EE purchase..................................+1%
* BWIN.PARTY trading update, confident o'look, sees completion early '16.....+1%
* DAILY MAIL-Proposed sale of LWH stake to Trinity Mirror for £73m........+1/2%
* ENQUEST-Pumps first oil from Alma/Galia Well.In line......................unch
* GLAXO numbers due today at midday
* LLOYDS 8% miss Vs cons, key weakness is in "Other Income", disappointing...-2%
* MEGGITT warns - says Q3 trading below expectations......................-7%/8%
* NEXT Q3 ims, directory weaker +6.2% v 11% est, sees FY broadly in line.....-1%
* PETRA slightly more +ve thna expected PETRA update.........................+3%
* REDEFINE FY #'s in line. Focus on consolidating recent acq's.............unch
* SHELL $2bn write down as shelves Carmon creek (Canada oil sands)...........-1%
* SAB MILLER/ABI INBEV request deadline extension, granted til 4th Nov.......+2%
* STANDARD LIFE Q3 +2% to £301.9bn, net inflows of £2.4bn, in line..........unch
* TELECITY Q3 trading update, fy guidance unch, confirms deal timings.......unch
* TRINITY MIRROR-Acquires remaining stake in LWH.Placing 22.4m shs @ 158p
UK
* ANTO another cut to FY production guidance, down to 635kt (from 665k)......-3%
* BATS 9m rev growth 4.2% Vs 3.1%, sees Q4 moderate, been strong into......-0.5%
* BT CMA provisionally approves EE purchase..................................+1%
* BWIN.PARTY trading update, confident o'look, sees completion early '16.....+1%
* DAILY MAIL-Proposed sale of LWH stake to Trinity Mirror for £73m........+1/2%
* ENQUEST-Pumps first oil from Alma/Galia Well.In line......................unch
* GLAXO numbers due today at midday
* LLOYDS 8% miss Vs cons, key weakness is in "Other Income", disappointing...-2%
* MEGGITT warns - says Q3 trading below expectations......................-7%/8%
* NEXT Q3 ims, directory weaker +6.2% v 11% est, sees FY broadly in line.....-1%
* PETRA slightly more +ve thna expected PETRA update.........................+3%
* REDEFINE FY #'s in line. Focus on consolidating recent acq's.............unch
* SHELL $2bn write down as shelves Carmon creek (Canada oil sands)...........-1%
* SAB MILLER/ABI INBEV request deadline extension, granted til 4th Nov.......+2%
* STANDARD LIFE Q3 +2% to £301.9bn, net inflows of £2.4bn, in line..........unch
* TELECITY Q3 trading update, fy guidance unch, confirms deal timings.......unch
* TRINITY MIRROR-Acquires remaining stake in LWH.Placing 22.4m shs @ 158p
INVESTEC EURO
* ABINBEV-confirms 1 week extension to SABMILLER bid deadline...............+1%
* ALTICE-Q3 ebitda and rev broadly in line, Portugal savings ahead of plan..+2%
* DSV-Q3 rev 5.5% miss but ptp 3% ahead, raises FY profit outlook...........+1%
* HEINEKEN-Q3 beat mostly one offs, stops buyback after recent aqns.........+1%
* LINDE-Q3 rev & op profit in line, confirms f/casts. Comment to follow.....-1%
* MEDIOBANCA-Q1 net 5% ahead, rev in line, net boosted by Pirelli sale......+1%
* NOVARTIS-to pay $390m to settle US kickback lawsuit.......................U/C
* NUMERICABLE-Q3 in line, sees FY ebitda at least €3.85bn vs cons €3.73bn...+2%
* ROCKET INTERNET-plans HelloFresh unit ipo.................................+5%
* SAIPEM-capital raise/refinancing/ENI sell down all as expected/rumoured....??
* SKANSKA-Q3 rev 12% miss, ptp 8% miss. Seeing good opportunities???........-3%
* SNAM-Q3 rev 2% ahead, ebitda in line, Italy gas demand flat YoY...........U/C
* SOFTWARE-Q3 numbers and guidance pre-announced, nothing new...............U/C
* STATOIL-Q3 ebit 5% ahead,net hit by tax,lowers capex, we see small d/g....-2%
* TELENOR-Q3 sales/ebitda small ahead. FY rev and margin guidance low end...-3%
* UCB-9m rev in line, sees FY rev top end, ebitda €800m vs €710-740m prev...+2%
* UNIBAIL-9m rev +2.1% YoY, keeps f/casts, strong ahead of results..........-1%
* ABINBEV-confirms 1 week extension to SABMILLER bid deadline...............+1%
* ALTICE-Q3 ebitda and rev broadly in line, Portugal savings ahead of plan..+2%
* DSV-Q3 rev 5.5% miss but ptp 3% ahead, raises FY profit outlook...........+1%
* HEINEKEN-Q3 beat mostly one offs, stops buyback after recent aqns.........+1%
* LINDE-Q3 rev & op profit in line, confirms f/casts. Comment to follow.....-1%
* MEDIOBANCA-Q1 net 5% ahead, rev in line, net boosted by Pirelli sale......+1%
* NOVARTIS-to pay $390m to settle US kickback lawsuit.......................U/C
* NUMERICABLE-Q3 in line, sees FY ebitda at least €3.85bn vs cons €3.73bn...+2%
* ROCKET INTERNET-plans HelloFresh unit ipo.................................+5%
* SAIPEM-capital raise/refinancing/ENI sell down all as expected/rumoured....??
* SKANSKA-Q3 rev 12% miss, ptp 8% miss. Seeing good opportunities???........-3%
* SNAM-Q3 rev 2% ahead, ebitda in line, Italy gas demand flat YoY...........U/C
* SOFTWARE-Q3 numbers and guidance pre-announced, nothing new...............U/C
* STATOIL-Q3 ebit 5% ahead,net hit by tax,lowers capex, we see small d/g....-2%
* TELENOR-Q3 sales/ebitda small ahead. FY rev and margin guidance low end...-3%
* UCB-9m rev in line, sees FY rev top end, ebitda €800m vs €710-740m prev...+2%
* UNIBAIL-9m rev +2.1% YoY, keeps f/casts, strong ahead of results..........-1%