Day Ahead

Thursday, July 18, 2013, Marketing Communication Opening Call The FTSE is called to open around unchanged on the day UK Corporate Announcements Sports Direct announces full year revenues of £2.2bn largely in line, and a full year underlying pre-tax profit of £208.1m and labels it as a record breaking year London Stock Exchange announces revenues gained 39% from last year, and that it has made a positive start to the new year, and details that Ian Axe is leave his role as CEO of its LCH.Clearnet unit following the takeover Hilton Foods states that it has made good progress and that its performance has been in line with the boards expectations, and that it is exploring growth opportunities Optos states that it remains on track to meet its full year estimates, as it details its CFO steps down UK News The governing body of the IMF has backed George Osborne’s austerity push, ahead of some of its staff that have publicly suggested more relaxed fiscal policies, but does state the recovery is ‘slow and fragile’ Glaxo’s Finance Director in China has been banned from leaving the country as the recent moves by China on corporate bribery continues UK Analyst Changes Amlin Raised To Market Perform Vs Underperform At Kbw Easyjet Raised To Overweight Vs Underweight At Jpmorgan Man Group Cut to 'Underperform' at RBC Capital Ryanair Raised To Overweight Vs Underweight At Jpmorgan Sainsbury, Petsmart Added To Ubs’S Global Top 40 Stock List Smiths Group Cut To Neutral Vs Overweight At Jpmorgan Tate & Lyle Cut To Hold Vs Buy At Socgen Vodafone Removed From Ubs’S Global Top 40 Stock List UK Insider Buying Great Eastern Energ-Gd, (GEEC), 1 insider(s) bought 5000 shares, £2.4 Hansard Global Plc, (HSD), 1 insider(s) bought 11050 shares, £1.23 Wynnstay Properties Pl, (WSP), 1 insider(s) bought 9412 shares, £2.75 UK Insider Selling Finsbury Food Group Pl, (FIF),  insider(s) sold 6500000 shares, £0.54 FTSE 100 Movers Major European Companies Reporting Actelion Ltd, Q2, 0.86,  Akzo Nobel NV, S1, 1.62,  Alfa Laval AB, Q2, 1.876,  Atlas Copco AB, Q2, 2.627,  Investor AB, Q2, 0.4,  Modern Times Group AB, Q2, 5.497,  Nokia OYJ, Q2, -0.018,  Norsk Hydro ASA, Q2, 0.131,  Orkla ASA, Q2, 0.766,  SAP AG, Q2, 0.755,  Skanska AB, Q2, 2.128,  Svenska Cellulosa AB, Q2, 1.874,  Swedish Match AB, Q2, 3.549,  Tele2 AB, Q2, 0.952,  Telefonaktiebolaget LM Ericsson, Q2, 0.918,  Wartsila OYJ Abp, Q2, 0.457,  Ziggo NV, Q2, 0.33 European Market Summary The Greek parliament yesterday voted through the additional austerity measures required to release the next tranche of rescue funds The EU authorities stated yesterday that the remedies proposed by Google were not enough to ease antitrust concerns and stated that the company needs to do more Ericsson announces Q2 sales short of the forecasts citing Huawei competition and announces a Q2 operating profit of Sek2.47bn under forecasts of Sek4.86bn seen Spain sells Bonds at 10:30, while France sells bonds at 10:50 Global Market Footprint Major US Stock Movers After Hours SanDisk gained 6.3% after hours as it lifts its full year forecasts for full year revenues Jakks Pacific fell 22% after hours as it announces a full year EPS loss of $2.56 Intel dropped around 3% in late trading as it announced that it was cutting its full year sales forecasts IBM however gained 2% as it lifted its full year forecasts after reporting Q2 numbers just ahead EBay dropped 6% as it reported a Q2 EPS largely in line, but guided lower for Q3, citing slower growth in Europe and Korea S&P 500 Companies Reporting Advanced Micro Devices Inc, Q2, -0.124,  Amphenol Corp, Q2, 0.939,  AutoNation Inc, Q2, 0.723,  Baxter International Inc, Q2, 1.131,  BB&T Corp, Q2, 0.738,  BlackRock Inc, Q2, 3.83,  Capital One Financial Corp, Q2, 1.706,  Chipotle Mexican Grill Inc, Q2, 2.794,  Danaher Corp, Q2, 0.85,  Dover Corp, Q2, 1.298,  Fifth Third Bancorp, Q2, 0.421,  Genuine Parts Co, Q2, 1.213,  Google Inc, Q2, 10.833,  Huntington Bancshares Inc/OH, Q2, 0.161,  Intuitive Surgical Inc, Q2, 4.078,  Johnson Controls Inc, Q3, 0.75,  KeyCorp, Q2, 0.202,  Microsoft Corp, Q4, 0.733,  Morgan Stanley, Q2, 0.432,  Nucor Corp, Q2, 0.315,  People's United Financial Inc, Q2, 0.189,  Philip Morris International Inc, Q2, 1.411,  PPG Industries Inc, Q2, 2.345,  Quest Diagnostics Inc, Q2, 1.092,  Safeway Inc, Q2, 0.505,  Sherwin-Williams Co/The, Q2, 2.579,  Snap-on Inc, Q2, 1.45,  Stryker Corp, Q2, 1.028,  Union Pacific Corp, Q2, 2.354,  UnitedHealth Group Inc, Q2, 1.259,  Verizon Communications Inc, Q2, 0.728 US Market News Bernanke stated in his testimony to the House Financial Services Committee that the planned asset purchases ‘are by no means on a preset course’ stating that the speed of tapering would be dependent on the economy Muddy Waters stated publicly yesterday that it was short American Tower Corp, stating it was worth 40% lower than current prices, however the note failed to cause the moves seen in previous Muddy Water reports, and the stock closed just a touch lower on the day The US press suggests that JP Morgan may have agreed to the largest ever settlement to the Federal Energy Regulatory Commission over allegations it manipulated the electricity market Moody’s has cut its rating on Chicago to A3 from Aa3 Overnight Market News Chinese house prices gained in 69 cities in June, matching the moves posted in May Zong Qinghou the richest man in China has stated that he expects the nation’s growth to ease further in H2, and suggests that taxes should be cut and monopolies broken up Alibaba is in the news as its chief states that the 1989 crackdown on protestors in Tiananmen Square was ‘the most correct decision’ at the time Top FX The Canadian dollar slipped as its new central bank governor stated that the economy has significant slack and inflation remains muted, lowering the outlook for interest rate increases Economic Data Due 09:30 UK June Retail Sales ex Fuel, 0.2% exp. 2.1% previous 13:30 US Initial Jobless Claims, 360k previous 15:00 US June Leading Indicators, 0.3% exp. 0.1% previous Economic Events G20 Finance Ministers and Central Bank deputies meeting US Initial Jobless 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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