Day Ahead

Tuesday, July 2, 2013, Marketing Communication Opening Call The FTSE is called to open around unchanged this morning UK Corporate Announcements Persimmon announces H1 revenues gained 12% to £900m with average selling price up to £179.2k from £171.2k and H1 completions gained 7% Anite reports full year EBITDA of £40.5m on revenues of £132.5m and a pre-tax profit of £34.3m with sales up 8% Ocado Group details H1 revenues of £355m up 15.6% and an H1 pre-tax loss of £3.8m largely in line with the forecasts and states the environment remains challenging St Modwen reports an H1 pre-tax profit of £38.8m up 11% and states that it had an excellent start to the year N Brown states that it stays confident on the full year and details 17 week total revenues gained 8% National Express announces core revenues gained 3% in H1 and that it continues to make strong progress John Menzies states that H1 magazine sales have been weak, but does maintain its full year outlook Thornton’s lifts its full year targets as it sees added profit potential to be realised UK News RBS is planning a possible £500m flotation of Arrow Global Royal Mail’s union has rejected an 8.6% pay rise as ‘misleading and unacceptable’ The BCC states that Carney needs to focus on increasing bank lending in order to help Britain’s recovery The CEO of the South African Chamber of Mines states that well over 50% of South African gold and platinum operations are loss making and that the country cannot afford a wave of workplace disorder Whitbread announces a new concept for its hotels business, ‘Hub by Premier Inn’ planning 40 hotels by 2018, with the new hubs to have 25% lower build and operating costs The UK sells £3.5bn in 2023 Bonds at 10:30 UK Analyst Changes Drax Raised To Neutral Vs Underweight At Jpmorgan Rexam Raised To Buy Vs Hold At Jefferies Speedy Hire Rated New Outperform At Rbc, Pt 70P Wincanton Cut To Underweight Vs Neutral At Jpmorgan UK Insider Buying Assoc British Engineer, (ASBE), 1 insider(s) bought 40500 shares, £1.22 Bwin.Party Digital Ent, (BPTY), 1 insider(s) bought 150000 shares, £1.14 Camco Clean Energy Plc, (CCE), 1 insider(s) bought 3003985 shares, £0.02 Falkland Islands Hldn, (FKL), 1 insider(s) bought 10000 shares, £3.65 Hiscox Ltd, (HSX), 2 insider(s) bought 7661 shares, £5.56 Hydrodec Group Plc, (HYR), 1 insider(s) bought 750000 shares, £0.1 Imagination Tech Grou, (IMG), 1 insider(s) bought 5000 shares, £2.82 Iofina Plc, (IOF), 1 insider(s) bought 20000 shares, £1.5 Johnston Press Plc, (JPR), 7 insider(s) bought 175745 shares, £0.17 M P Evans Group Plc, (MPE), 1 insider(s) bought 5000 shares, £5.3 Magnolia Petroleum Pl, (MAGP), 3 insider(s) bought 835000 shares, £0.02 Pendragon Plc, (PDG), 1 insider(s) bought 200000 shares, £0.24 Polymetal Internation, (POLY), 1 insider(s) bought 7185 shares, £4.54 Rexam Plc, (REX), 1 insider(s) bought 2500 shares, £4.77 Segro Plc, (SGRO), 1 insider(s) bought 3580 shares, £2.79 Tandem Group Plc, (TND), 2 insider(s) bought 19035 shares, £0.94 UK Insider Selling Bank Of Georgia Holding, (BGEO),  insider(s) sold 7458 shares, £16.3 FTSE 100 Movers Major European Companies Reporting Alstom SA,  ICADE,  Investec PLC,  Neopost SA,  OC Oerlikon Corp AG,  Persimmon PLC European Market Summary The Telegraph highlights how EU authorities have accused the larger investment banks of abusing their position to exclude competitors in credit derivatives Unemployment across Europe hit a fresh record in May, as the percentage of youth employment continues to suffer the most Egypt’s military yesterday afternoon gave the government 48 hours to find a political solution to the ongoing crisis German based Dialog Semiconductor announces it is to $345m to buy iWatt Inc the digital power management integrated circuit maker Global Market Footprint Major US Stock Movers After Hours Zynga gained as it announced Don Mattrick, the former Microsoft executive, as its new CEO Nielsen gained 6% as S&P announced it will enter its S&P 500 as Sprint leaves the index as part of the Softbank deal Hudson Technologies fell 27% after hours as it announces as it reported Q2 numbers well under the consensus S&P 500 Companies Reporting Constellation Brands Inc, Ford Motor Co, Constellation Brands Inc, General Motors Co US Market News President Obama is working hard to limit the growing crisis over the EU ‘outrage’ over bugging claims Bloomberg details that Barclays and Citigroup, amongst others see the US unemployment rate dropping to 7% as early as this year, ahead of the 2014 target initially given by Bernanke when he stated that asset purchases could stop around the middle of 2014 when joblessness ‘would likely be in the vicinity of 7%’ Bristol Myers Squib has been cut to A- by Fitch Overnight Market News As expected the RBA has left rates unchanged, in line with the 25 of 28 economists polled, but states that the exchange rate may depreciate in future meetings The China Cement Association has created a plan to consolidate the top 10 producers to have a 60% share of the domestic market by 2020 Top FX The dollar is up near a one month high against the euro as the FX rate continues to price in QE tapering Economic Data Due 09:30 UK June PMI Construction, 51.4 exp. 50.8 previous 15:00 US May Factory Orders, 2.0% exp. 1.0% previous Economic Events Fed's Dudley Speaks on Economy US Factory Orders 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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