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FC: EU AND UK COMPANY STOCKS OPENING CALLS Aug 22, 2017at 07:42AM

Bofa-ML:
CAIRN – Increase 2C recoverable oil resources by 19% to 563m barrels (179)+3-4%
PERSIMMON – Gross margin up 360bp in H1 and volumes increased 7.7% (2600).+2%
BILLITON – +1.2% in OZ, FY17 results inline at EBITDA and divi level (1393).+2%
ANTOFAGASTA – EBITDA US$1.08b, inline with BAML, small beat v cons ests(965)+1%
MINERS – Copper +0.1%, Iron Ore fut -0.4% with BHP OZ +1.1% & RIO OZ +1%..+1%
SWISS LIFE – We UPGRADE to Neutral. Divi growth can follow B/S recovery(350)+1%
SPORTS DIRECT – Increasing Debenhams position. Inline with strategy (406.7).u/c
BANKIA – Spanish Govt has hired Nomura for Bankia sale; EL Economista (4.1).u/c
RICHEMONT – July export data +4.3% inc. cFX impact +6.5% v June +11.5% (82).u/c
SWATCH – July export data +4.3% inc. cFX impact +6.5% v June +11.5% (370).-0.5%
PERNOD – We DOWNGRADE to Neutral from Buy, reducing our ests by 4-6% (116)-1-2%
PROVIDENT FIN – Sees wider loss, ends interim divi & CEO steps down (1300).-25%
CS:
Antofagasta +2% EBITDA beat. Debt better, divi payout inline
Bankia M/P Spanish Govt Hires Nomura for Bankia Sale: EL Economista
Bakkafrost +2% Headline numbers a beat and keeps harvest guidance
BHP Billiton UNCH EBITDA in-line; EPS miss on higher net interest
Cape M/P Numbers inline, but all about the Altrad offer
Cairn Energy +3% Positive Senegal field update
Huber & Suh UNCH EBIT 10% light, orders strong, margins and guidance weak
Miners -0.5% Copper -0.05%, Brent +0.10%, Iron Ore -0.90%, China +0.40%
Persimmon +2-3% Operating margin 27.6% vs prev expectatrions of 25.7%
Provident Fin -20% Profit warning – CCD weak, Withdrawing the interim divi
Richemont +0.5-1% Watch exports continue their recovery rising +3.6% y/y
Royal Uni +1-2% H1 Revenue inline, EBIT 2% ahead, guidance mixed
Swatch +0.5-1% Watch exports continue their recovery rising +3.6% y/y
Commerz:
AB1 +1.2% Air Berlin CEO says there’s ‘no substantial’ Woehrl bid
AIR +1.5% Airbus replaces K+S on Bankhaus Lampe Alpha List
BDT -1.5% Mainfirst cuts to Underperform (Neutral) – PT €65 (85)
SAZ -0.3% Lampe and Independent Research cut to Sell
SDF +1.1% Airbus replaces K+S on Bankhaus Lampe Alpha List
TTR1 +4.0% Upgrades FY forecast after gains in H1 profit
TUI1 +0.3% TUI’s Air Berlin interest confined to safeguarding its own staff
LHA +0.7% Air Berlin CEO says there’s ‘no substantial’ Woehrl bid
ZO1 +0.1% Q2 profit below, higher logistic costs and competition
Macquarie:
* Anto’s- Solid set of no’s with EBITDA of $1.08bn beating our est’s by 4% and consensus by 3%. +2%
* Billiton BLT- Missed on no’s, in talks on US Shale Asset sale. +1-2%
* Cairn Energy CNE-Kraken commenced production, Catcher scheduled for first oil later in year. Senegal reserves up to ~563m barrels from 475m. +2%
* Petrofac PFC- Sells its 50% stake in Petro-SPM to Schlumberger. +1-2%
* Persimmon PSN- H1 PTP up 30% to £457.4m, Strong outlook statement. Will continue to return cash to shareholders. +2-3%
* Provident Financial PFG- Another Profit Warning, pre-exceptional loss of the business now likely to be £80m-120m. Withdrawing Interim Dividend & FY dividend unlikely, CEO stepping down. A mess, -20%+
* Secure Trust STB-Group PBT of £13.9m, pleased with 2017 performance. Unch/small up
* Wood Grp WG/- FY Outlook unchanged, expects stronger H2; Dividend up 3%. Unaoil investigation largely complete with no indication payments were made for corrupt purposes. +1-2%
Mainfirst:
*AIR BERLIN-CEO Says there’s ‘No Substantial’ Woehrl Bid: HB……..-2%
*BHP-Plans to Sell U.S. Onshore Assets; FY17 Profit, Div. Miss……+1%
*QIAGEN-In clinical genomics in Colorectal Cancer Monitor pact……+0.25%
*FERROVIAL-To bid for Westchester Airport Concession-Economista…..U/C
*GLENCORE-In talks to sell stake in Mototolo to Amplats-BD……….+1%
*BOSSARD-H1 Sales known,Raises FY guidance 770-780m vs 750-760m…..+2%
*HUBER & SUHNER-Orders 425m(396),Sales 411m(393),FY Margin l/end….+0.5%
*ORIOR-H1 Sales 281m(inline),Ebitda 27.7m(26.8),Upbeat on FY……..+1%
*TECHNOTRANS-Q2 Rev 50.4m(50.4),Ebit 4.1m(4.1),FY Rev/Ebit raised…+3%
*ZOOPLUS-Q2 Sales 260m(260),EBT 1.7m(2.5),FY Guidance inline……..-1%
*BILFINGER-Wins nuclear waste order worth €30m,Short Int 21.9%……+0.5%
*RICHEMONT/SWATCH-Swiss Watch Exports+3.6% in July-Customs Office…+0.5%
*VA-Q-TEC-H1 Rev 22.5m,Ebitda 4.2m,very strong prod bizz(SI 1.3%)…-0.5%