Day Ahead

Monday, July 15, 2013, Marketing Communication Opening Call The FTSE is called to open up around 20 points on the open UK Corporate Announcements Sthree announces H1 pre-tax profit fell 28.3% to £6.7m while revenues gained 4.8% to £291m and states that global economic conditions are still fragile UK News BP states that US law firms were reaping a ‘bonanza’ on the ongoing oil spill claims AstraZeneca announces that its CFO is to leave at the end of October to join BG Rightmove has UK House asking prices have gained to a record, up 0.3% in July, to an average of £253,658, buoyed by London, and now sees full year prices gaining 4% from its previous 2% forecast Cobham announces that it takes full ownership of its helicopter services joint venture, involving a cash consideration of £74m London  Metric announces it pays £61.8m for Argos and WH Smith Retail distribution warehouses in Bedford and Birmingham The CEO of M&S states that its new clothing range is a step in the right direction The FT suggests that AG Barr, the Irn Bru maker is looking at a possible move for GlaxkoSmithKline’s Lucozade and Ribena brands after merger talks with Britvic fell apart The boss of Morrison’s has stated that the company was prepared to pay an online sales tax on its new internet delivery business if the government was to look at the ‘massive disadvantage’ that the traditional high street faces against web based retailers The Bank of England Quarterly Inflation Report is due at 10:30 UK Analyst Changes Aggreko Plc Cut To Sector Perform Vs Outperform At Rbc Mondi Cut To Underperform Vs Neutral At Bofaml Tullow Oil Cut To Hold Vs Buy At Socgen UK Insider Buying Associated British Foo, (ABF), 1 insider(s) bought 500 shares, £19.02 Avanti Communications, (AVN), 1 insider(s) bought 15000 shares, £1.67 Mission Marketing Gro, (TMMG), 1 insider(s) bought 120000 shares, £0.24 Next Fifteen Communica, (NFC), 1 insider(s) bought 45629 shares, £0.88 President Energy Plc, (PPC), 1 insider(s) bought 3400000 shares, £0.16 Tesco Plc, (TSCO), 1 insider(s) bought 25000 shares, £3.52 Treatt Plc, (TET), 1 insider(s) bought 10552 shares, £5.78 UK Insider Selling Advanced Computer Soft, (ASW),  insider(s) sold 350000 shares, £0.88 Tesco Plc, (TSCO),  insider(s) sold 107363 shares, £3.51 FTSE 100 Movers Major European Companies Reporting Kuehne + Nagel International AG, Q2, 1.269,  Skandinaviska Enskilda Banken AB, Q2, 1.453 European Market Summary France has had its ratings cut to AA+ from AAA by Fitch with a stable outlook Merkel discusses a touch new proposal, which would require internet companies to fully disclose what information they have collected and who they have made it available to German press suggests that the chairman of UBS has spoken to the German government about acquiring its stake in Commerzbank France sells €8bn in Bills at 14:50 Global Market Footprint Major US Stock Movers After Hours AT&T announces that it is to buy Leap Wireless for $15/share in cash, Leap closed on Friday at $8.00, and is already seen putting pressure on the remaining smaller rivals to look for a partner to pair up S&P 500 Companies Reporting Cintas Corp, Q4, 0.701,  Citigroup Inc, Q2, 1.174 US Market News The latest Comscore ranking has Google leading US web searches with a 66.7% market share The Sunday Times suggests that General Electric is considering a £3.5bn counter bid for Invensys Apple is reportedly 'aggresively' hiring for its iWatch development Barron’s highlights analysts that see a potential 40% upside in Entegris as it could continue to see strong demand growth for its semiconductors The paper also flags up concerns that MercadoLibre could slump by 50% or more once markets realise that much of its revenue growth was due to the use of ‘official' Argentine and Venezuela exchange rates, which are significantly overvaluing the actual values Overnight Market News Moody’s downgrades its outlook on the Singapore Banking System to negative China’s growth has slowed with GDP gaining 7.5% in the quarter to end June, largely in line, and down from the 7.7% in Q1 Bloomberg details that while China has gained through the list of the world’s largest economies in the past twenty years the MSCI China Index has gained just 14% since 1993, against 452% in the S&P 500 and 322% in the MSCI Emerging Markets Index, as the markets remain largely domestic Hong Kong is considering putting limits on the purchases of Infant milk as Chinese mainland visitors continue to buy in bulk after quality scares on mainland produced formula Top FX The China Daily writes an editorial on how the US is engineering its monetary and exchange policy to suit its needs, and that this was causing inflation in emerging market economies Economic Data Due 00:01 UK July Rightmove House Prices, 1.2% previous 13:30 US June Advance Retail Sales, 0.7% exp. 0.6% previous Economic Events No Major Events Scheduled US Advance Retail Sales CFD Sales/Traders 0044 (0) 207 894 8883 cfdsales@cantor.com 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