Day Ahead

Wednesday, July 10, 2013, Marketing Communication Opening Call The FTSE is called down around 30 points lower this morning as the fairly slow summer news period continues UK Corporate Announcements Burberry  confirms its previous guidance, as it details Q1 retail revenues of £339m, ahead of the forecasts of £316m seen Barratt announces average homes prices of £221k with private home completions up 16.1% with 13,663 completions Booker states that it remains on track to meet its full year expectations Bwin warns that its revenues performance from April has been softer the expected and states that its cost reduction initiatives remain on track Halfords announces Q1 LFL revenues gained 8.8% well ahead of the estimates and states that it was due to a better performance in all areas ICAP states that it has made an encouraging start to the year, and confirms its outlook, and that revenues were 2% ahead of last year, and that it had a mixed performance overall UK News The UK Treasury announced yesterday that NYSE Euronext is to take over the running of Libor FTSE 100 Dividends: Vedanta, VED, ($0.37) FTSE 100 Estimated Dividend Impact: Less than 0.5 points FTSE 250 Dividends: Caledonia Investments PLC/fund, CLDN, (34.30),  Domino Printing Sciences PLC, DNO, (7.60),  F&C Commercial Property Trust Ltd, FCPT, (0.5g),  Foreign & Colonial Investment Trust PLC, FRCL, (2.10),  Merchants Trust PLC/The, MRCH, (5.90),  Monks Investment Trust PLC/Fund, MNKS, (3.45),  Murray International Trust PLC, MYI, (9.50),  NB Global Floating Rate Income Fund Ltd, NBLS, (1.11),  Workspace Group PLC, WKP, (6.45g) FTSE Small Share: Hyder Consulting PLC, HYC, (8),  Impax Asian Environmental Markets PLC, IAEM, (1.15),  Middlefield Canadian Income PCC, MCT, (1.25),  Safestore Holdings PLC, SAFE, (1.85g),  Schroder UK Growth Fund PLC, SDU, (2.25),  Vp PLC, VP/, (9) UK Analyst Changes Micro Focus Cut To Equalweight Vs Overweight At Barclays Sig Cut To Hold Vs Buy At Jefferies UK Insider Buying Assoc British Engineer, (ASBE), 1 insider(s) bought 5000 shares, £1.22 Capita Plc, (CPI), 1 insider(s) bought 15 shares, £10.36 Castings Plc, (CGS), 1 insider(s) bought 25000 shares, £3.93 Hardide Plc, (HDD), 2 insider(s) bought 1509434 shares, £0.01 Hayward Tyler Group P, (HAYT), 1 insider(s) bought 36000 shares, £0.28 Panmure Gordon & Co P, (PMR), 1 insider(s) bought 20000 shares, £1.35 Pittards Plc, (PTD), 1 insider(s) bought 200000 shares, £0.02 Rolls-Royce Holdings P, (RR/), 6 insider(s) bought 918 shares, £12.06 Westside Investments P, (WST), 5 insider(s) bought 500000 shares, £0 UK Insider Selling Brown (N) Group Plc, (BWNG),  insider(s) sold 97688 shares, £4.9 Paypoint Plc, (PAY),  insider(s) sold 12000 shares, £10.65 Spaceandpeople Plc, (SAL),  insider(s) sold 100000 shares, £0.95 FTSE 100 Movers Major European Companies Reporting Gerresheimer AG, Q2, 0.601,  Tryg A/S, S1, 15.7 European Market Summary S&P has dropped its credit rating on Italy to BBB from BBB+, while Latvia has been raised to BBB+ from BBB as it has been approved to join the euro, with coins to be issued January 1st, 2014 Local reports suggest that Fiat is threatening to move its Alfa Romeo models out of Italy as part of a Labor dispute The EU dispute with Russian ‘recycling’ fee on car imports from the EU has gone to the WTO Italy sells €9.5bn in Bills at 11:00 and Germany sells €5bn in bonds at 11:30 Global Market Footprint Major US Stock Movers After Hours Ascent Forms gained 22.8% after hours as it announced it has formed a Chinese based joint venture with Suqian Nu Skin gained 11% in late trading as it announced Q2 EPS of $1.20 well ahead of the forecasts, citing sales growth in China S&P 500 Companies Reporting Chevron Corp, Q2, 3.017,  Family Dollar Stores Inc, Q3, 1.029,  Fastenal Co, Q2, 0.406,  Yum! Brands Inc, Q2, 0.538 US Market News The IMF has cut its 2013 US growth forecasts to 1.7% from 1.9% in April and cuts the global growth forecasts to 3.1% from 3.3% and states that downside risks still dominate Kroger the US grocery store chain announces it is paying $2.5bn to buy Harris Teeter Supermarkets to strengthen its position in the southeast US News Corp is in the news as Rupert Murdoch has been recalled to face UK MPs after the recently released tape of a conversation he had with journalists talking about the corrupt payments practices of the industry AIG and GE Capital have been rated as systemically important by the US and will now face harsher regulatory oversight FedEx gained 4% yesterday reportedly due to talk that William Ackman’s Pershing Square may be taking a look at the logistics group Overnight Market News Chinese export fell 3.1% from last year, the largest drop since the start of the financial crisis, and well under the forecasts Top FX The pound has dropped down to $1.4822, the lowest level since June 2010 Economic Data Due 15:00 US May Wholesale Inventories, 0.3% exp. 0.2% previous Economic Events Fed FOMC Meeting Minutes US Wholesale Inventories CFD Sales/Traders 0044 (0) 207 894 8883 cfdsales@cantor.com Equity Spread Bet Sales 0044 (0) 207 894 8800 sales@cantorcapital.com Footnotes FTSE 100 Call as at 6:45am Analyst Changes, as at 6:30am Times given are UK Local Time, (GMT or GMT +1 during BST) Insider Deals data compiled from Director/PDMR Shareholding forms published in the past 24 hours (ex weekends). 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