Day Ahead

Tuesday, July 16, 2013, Marketing Communication Opening Call The FTSE is called to open up 5-10 points today UK Corporate Announcements Computacenter states that the UK business was performing in line but sees a further deterioration in its French business Michael Page announces a Q2 gross profit of £135.2m down 2% and states that it saw an overall robust performance in Q2 amidst the challenging market conditions BTG states that trading overall has been in line with the forecasts and states that it made good operational progress Rio Tinto details quarterly iron ore output gained 7% and lifts its copper target Ricardo states that it sees its full year profit coming in ahead of the current market expectations UK News The Guardian has the Conservatives and Labour both at 36% of the vote in the latest Polls as UKIP has fallen back in the numbers The paper also writes on how Chinese authorities have accused Glaxo of behaving like a criminal godfather in bribing local doctors with cash and sexual favours in return for them using Glaxo’s drugs Vodafone reportedly is looking to complete on the Kabel deal as early as October Firestone Diamonds announces it is to place 198.5m shares at 2p/share to raise $6m The Telegraph details how two former brokers at RP Martin are the latest to have been charged over Libor fixing The European Banking Authority details that that more than 2,400 workers in the city in 2011 were paid more than €1m, more than three times the rest of the EU combined UK Analyst Changes Britvic Resumed At Buy At Nomura; Pt 580P C&C Group Cut To Hold Vs Buy At Berenberg Centrica Raised To Equalweight Vs Underweight At Barclays Dixons Retail Raised To Buy Vs Neutral At Nomura Home Retail Raised To Buy Vs Neutral At Nomura Johnson Matthey Rated New Hold At Berenberg; Pt 2,800P Kingfisher Raised To Neutral Vs Reduce At Nomura Mondi Rated New Neutral At Ubs, Pt 143 Rand UK Insider Buying Associated British Food, (ABF), 1 insider(s) bought 500 shares, £18.92 Avanti Communications G, (AVN), 1 insider(s) bought 5000 shares, £1.68 Next Fifteen Communicat, (NFC), 1 insider(s) bought 45629 shares, £0.88 Sig Plc, (SHI), 2 insider(s) bought 142 shares, £1.75 UK Insider Selling Advanced Computer Soft, (ASW),  insider(s) sold 300000 shares, £0.87 FTSE 100 Movers Major European Companies Reporting Castellum AB, Q2, 1.688,  Gjensidige Forsikring ASA, Q2, 1.655,  SKF AB, Q2, 2.659,  Swedbank AB, Q2, 3.116 European Market Summary The European Financial Stability Facility has been cut to AA+ from AAA by Fitch Telecom Italia has put spinoff plans on hold, while Deutsche Telekom states that it was keeping its options open on its EE joint venture with Orange, including a sale or IPO European Car sales have fallen 6.3% in June to stand at the lowest level since 1996 Spain sells 6 month and 12 month bills at 10:30, while Greece sells €1.25bn in 91 day Bills at 11:00 Global Market Footprint Major US Stock Movers After Hours NQ Mobile increases its forecasts, and details it is to buy the rest of Beijing NationSky and gained 8% after hours on the news Heidrick & Struggles fell 11% as its CEO stands down and it announces that following a strategic review it opts for a standalone strategy Joe’s Jeans came off 11% as it announces Q2 numbers and also details that it is to buy Hudson Clothing for $97.6m S&P 500 Companies Reporting Charles Schwab Corp/The, Q2, 0.186,  Coca-Cola Co/The, Q2, 0.63,  Comerica Inc, Q2, 0.7,  CSX Corp, Q2, 0.471,  Goldman Sachs Group Inc/The, Q2, 2.881,  Johnson & Johnson, Q2, 1.388,  Mosaic Co/The, Q4, 1.128,  Yahoo! Inc, Q2, 0.297 US Market News Citigroup announced a 42% increase in quarterly profits yesterday boosting the confidence in the US reporting season which increasingly winds into gear over the next few days Third Point Reinsurance has filed for a US IPO, a founding shareholder  is Third Point LLC founder and hedge fund manger Daniel Loeb The WSJ writes that the larger publicly traded home builders have been seen ‘snapping up’ privately held companies that survived the credit slump but that are struggling to find fresh financing Overnight Market News Baidu agrees to buy all of 91 Wireless, the app store, for $1.9bn Anglogold Ashanti announces that it has cut its full year output targets and also writes down the value of its assets by as much as $2.6bn The RBI announced it it is to lift its interest rates as it looks to support the rupee which fell to a record low, the rupee gained 1.3% today, leaving Russia as the only remaining BRIC nation not to have tightened its financial system Christie’s announces that it plans its first major sale in India this year, signalling the increasing affluence in the region Top FX The Bank of Japan releases minutes from its last meeting tomorrow, and is expected to suggest that it will continue with monetary easing, while the US is seen increasingly scaling back Economic Data Due 09:30 UK June PPI Output, 0.1% exp. 0.0% previous 09:30 UK June CPI m/m, -0.1% exp. 0.2% previous 10:00 Eurozone June CPI m/m, 0.1% exp. 0.1% previous 10:00 Eurozone July ZEW Survey, 30.6 previous 13:30 US June CPI, 0.3% exp. 0.1% previous 14:15 US June Industrial Production, 0.3% exp. 0.0% previous 14:15 US June Capacity Utilisation, 77.7% exp. 77.6% previous Economic Events Bank of England's Fisher Speaks in London US CPI 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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