Day Ahead

Thursday, July 25, 2013, Marketing Communication Opening Call The FTSE is seen starting the day around unchanged UK Corporate Announcements BT reports a Q1 adjusted EBITDA of £1.44bn largely in line, on revenues of £4.5bn just ahead Rolls Royce announces an H1 adjusted pre-tax profit of £840m, just ahead of the estimates, on revenues of £7.3bn and maintains its full year guidance Capita announces H1 revenues of £1.81bn and an underlying operating profit of £226.8m from £214m and its full year organic growth expectations is for at least 8% SSE states that it has posted a solid performance in operations and investments, and that its dividend increase will be greater than RPI Inflation Mitchells & Butlers details 9 week LFL sales gained 2% and states that it remains on track to meet its full year targets Travis Perkins announces 6 month revenues of £2.45bn and stays confident of sales growth and improved returns and details that its CEO is to retire Reed Elsevier reports an H1 underlying operating profit of £870m up 6% on revenues of £3.03bn and plans to buy back £300m of stock in 2013 Bodycote announces H1 revenues gained 5% to £316.5m and an H1 basic EPS of 18.9p De La Rue states that trading has been in line with board expectations and sees the ‘usual weighting’ towards H2 Unilever announces Q2 underlying sales growth of 5%, just under the forecasts, and states that it remains focussed on achieving profitable volume growth UK News High Frequency trading stays in focus as UK MP’s have now called for a Transaction Tax in the sector GlaxoSmithKline is expected to pay around $229m to settle Avandia suits in the US, while its CEO states that the London headquarters knew nothing of the alleged cash and sexual favours bribery scandal in China RBS has been fined £5.6m for failing to properly report on a third of its investment banking deals over a five year period The Independent suggests that a £10bn London IPO of Everything Everywhere could occur as early as this year UK Analyst Changes Arm Removed From Ubs’S European Key Call List Az Electronic Materials Cut To Hold Vs Buy At Deutsche Bank UK Insider Buying Faroe Petroleum Plc, (FPM), 5 insider(s) bought 41434 shares, £1.14 Pressure Technologies P, (PRES), 1 insider(s) bought 18000 shares, £2.18 Quintain Estates & Dev P, (QED), 2 insider(s) bought 50000 shares, £0.88 Scancell Holdings Plc, (SCLP), 2 insider(s) bought 75000 shares, £0.32 UK Insider Selling Accsys Technologies Plc, (AXS),  insider(s) sold 449686 shares, £0.12 Topps Tiles Plc, (TPT),  insider(s) sold 17872 shares, £0.86 FTSE 100 Movers Major European Companies Reporting ABB Ltd, Q2, 0.361,  Acciona SA, S1, 0,  Aixtron SE, Q2, -0.111,  Amer Sports Oyj, Q2, -0.117,  Banco de Sabadell SA, S1, 0,  Bankia SA, S1, 0,  Bankinter SA, S1, 0,  BASF SE, Q2, 1.517,  BT Group PLC, Q1, 0.055,  Cap Gemini SA, S1, 1.265,  Capita PLC, S1, 0.251,  Casino Guichard Perrachon SA, S1, 1.75,  Cie Generale des Etablissements Michelin, S1, 3.3,  Credit Suisse Group AG, Q2, 0.666,  Dassault Systemes SA, S1, 0,  Deutsche Boerse AG, Q2, 0.963,  EDP - Energias de Portugal SA, Q2, 0.085,  Ferrovial SA, S1, 0,  Givaudan SA, S1, 33.267,  GlaxoSmithKline PLC, Q2, 0.263,  Groupe Eurotunnel SA, S1, 0,  Howden Joinery Group PLC, S1, 0.043,  Kering, S1, 4.352,  Lonza Group AG, S1, 2.23,  Luxottica Group SpA, S1, 0.79,  LVMH Moet Hennessy Louis Vuitton SA, S1, 3.332,  Mapfre SA, S1, 0,  Metso OYJ, Q2, 0.691,  Nutreco NV, S1, 0.835,  Orange SA, S1, 0.62,  Petroleum Geo-Services ASA, Q2, 0.321,  Randstad Holding NV, S1, 0,  Reed Elsevier NV, S1, 0.45,  Reed Elsevier PLC, S1, 0.256,  Renault SA, S1, 2.75,  Repsol SA, Q2, 0.343,  Roche Holding AG, S1, 7.477,  Rolls-Royce Holdings PLC, S1, 0.309,  SEB SA, S1, 4.1,  Shire PLC, S1, 0,  Software AG, Q2, 0.352,  Statoil ASA, Q2, 3.736,  Technip SA, S1, 0,  Telefonica SA, S1, 0,  Telenet Group Holding NV, S1, 0,  Terna Rete Elettrica Nazionale SpA, S1, 0,  Travis Perkins PLC, S1, 0.406,  Unilever NV, S1, 0.799,  Unilever PLC, S1, 0.799,  Wincor Nixdorf AG, Q3, 0.563 European Market Summary A train derailment in northwest Spain has killed at least 70 people Dolce & Gabbana have ruled out an IPO but the founding pair do remain open to a possible private sale Global Market Footprint Major US Stock Movers After Hours Facebook gained a hefty 17% after hours as it announces that revenues from mobile ads looks set to surpass PC revenues TripAdvisor gained 15% as it announced Q2 EPS and revenues well ahead of the forecasts, the news buoyed others in the sector, such as Expedia Baidu moved up 14% in late trading as its net earnings came in ahead of the expectations buoyed by ad revenues from increased mobile use Seqeunom came off 33% as it announces a Q2 EPS loss of 27c wider than the forecasts Crocs also posted sizeable falls, off 19% as it also announced Q2 revenues well under the forecasts S&P 500 Companies Reporting 3M Co, Q2, 1.706,  Actavis Inc, Q2, 1.989,  Airgas Inc, Q1, 1.146,  Alexion Pharmaceuticals Inc, Q2, 0.679,  Amazon.com Inc, Q2, 0.064,  American Electric Power Co Inc, Q2, 0.803,  Ball Corp, Q2, 0.843,  Bemis Co Inc, Q2, 0.595,  Biogen Idec Inc, Q2, 1.926,  BorgWarner Inc, Q2, 1.403,  Boston Scientific Corp, Q2, 0.094,  Bristol-Myers Squibb Co, Q2, 0.441,  Cameron International Corp, Q2, 0.777,  CBRE Group Inc, Q2, 0.338,  Celgene Corp, Q2, 1.438,  Cerner Corp, Q2, 0.34,  Chubb Corp/The, Q2, 1.395,  Cincinnati Financial Corp, Q2, 0.396,  Cliffs Natural Resources Inc, Q2, 0.636,  CMS Energy Corp, Q2, 0.333,  Coca-Cola Enterprises Inc, Q2, 0.759,  Colgate-Palmolive Co, Q2, 0.701,  CONSOL Energy Inc, Q2, 0.16,  Diamond Offshore Drilling Inc, Q2, 1.243,  Dow Chemical Co/The, Q2, 0.622,  DR Horton Inc, Q3, 0.34,  Edwards Lifesciences Corp, Q2, 0.76,  EQT Corp, Q2, 0.548,  Expedia Inc, Q2, 0.814,  FLIR Systems Inc, Q2, 0.361,  General Motors Co, Q2, 0.764,  Gilead Sciences Inc, Q2, 0.5,  Harley-Davidson Inc, Q2, 1.166,  Hershey Co/The, Q2, 0.707,  International Paper Co, Q2, 0.559,  KLA-Tencor Corp, Q4, 0.777,  L-3 Communications Holdings Inc, Q2, 1.926,  Legg Mason Inc, Q1, 0.403,  Leggett & Platt Inc, Q2, 0.44,  Lorillard Inc, Q2, 0.801,  McGraw Hill Financial Inc, Q2, 0.816,  McKesson Corp, Q1, 1.713,  Mead Johnson Nutrition Co, Q2, 0.835,  Newmont Mining Corp, Q2, 0.414,  Noble Energy Inc, Q2, 0.742,  Precision Castparts Corp, Q1, 2.904,  Principal Financial Group Inc, Q2, 0.818,  PulteGroup Inc, Q2, 0.299,  Raytheon Co, Q2, 1.3,  Republic Services Inc, Q2, 0.497,  Southwest Airlines Co, Q2, 0.389,  Starbucks Corp, Q3, 0.532,  Starwood Hotels & Resorts Worldwide Inc, Q2, 0.728,  VeriSign Inc, Q2, 0.548,  Xerox Corp, Q2, 0.241,  Zimmer Holdings Inc, Q2, 1.442 US Market News Wall Street banks are reportedly debating on whether to suspends doing business with SAC Capital Advisors if the hedge fund is indeed charged by the US authorities Michael Dell has lifted his takeover bid for Dell to $13.75 and the shareholder vote on the proposal has been moved to August 2 The CEO of Go Daddy Operating Co states that the web hosting company may consider an IPO as early as next year Overnight Market News Bo Xilai the former Chinese Politburo member has been charged with bribery, and abuse of power Chinese premier Li Keqiang has stated that the nation will speed railway construction, focusing on central and western regions South Korean GDP gained 1.1% in Q2, up from the 0.8% growth seen in Q1 and the strongest growth for two years Top FX The Brazilian real continues its falls against the dollar as its main trading partner China continues to slowdown and also as the BRIC nations story continues to reverse from the highs of 2011, where the real was above 0.65, currently it is trading under 0.45 Top Commodity Palm Oil prices have dropped to lows not seen since 2009 as global stockpiles are seen gaining 21% to 9.5m tons by the end of 2013-2014 Economic Data Due 09:00 Eurozone June M3, 3.0% exp. 2.9% previous 09:30 UK G2 GDP, 0.5% exp. 0.3% previous 13:30 US Initial Jobless Claims, 334k previous 13:30 US June Durable Goods Orders, 1.0% exp. 3.6% previous Economic Events No Major Events Detailed UK GDP 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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