Day Ahead

Friday, July 26, 2013, Marketing Communication Opening Call The FTSE Is seen opening around 20 points higher today UK Corporate Announcements Homeserve states that trading weighed towards H2 and that it remains on track to deliver strong full year operating growth Anglo American reports an H1 adjusted EPS of 98c against forecasts of 90c seen and states that prices for products continues to be supported by supply constraints BSkyB reports full year revenues of £7.2bn and an adjusted operating profit of £1.33bn up 9% and details it is to buy back a further £500m shares and states it expects the consumer environment to remain challenging BG Group announces a Q2 profit of $986m, down 3%, with production down 2% in line with the forecasts United Utilities states that current trading is in line and that it expects to post a good full year performance Pearson announces H1 revenues of £2.76bn just ahead, and confirms its full year targets Spectris reports an H1 adjusted operating profit of £566m from £570m, on sales of £570m largely in line Kcom states that trading remains in line with estimates UK News BT is in the news as senior executives have labelled the Public Account Committee as ‘farcical’  and more focused on attracting publicity than getting to the ‘underlying truth’ The Guardian details how the Church of England has a financial investment in one of the main financial backers of Wonga, the payday company the Church has stated it would ‘compete out of existence’ The UK sells £2bn in bills at 12:20 UK Analyst Changes African Minerals Cut To Neutral Buy At Goldman Csr Cut To Hold Vs Buy At Berenberg Travis Perkins Cut To Neutral Vs Buy At Citi UK Insider Buying Chemring Group Plc, (CHG), 1 insider(s) bought 50000 shares, £3.01 Croda International Pl, (CRDA), 1 insider(s) bought 2000 shares, £24.25 Europa Oil & Gas Holdin, (EOG), 1 insider(s) bought 73960 shares, £0.09 Scientific Digital Imag, (SDI), 1 insider(s) bought 100000 shares, £0.17 UK Insider Selling None Detailed FTSE 100 Movers Major European Companies Reporting Abertis Infraestructuras SA, S1, 0,  Air France-KLM, S1, 0,  Anglo American PLC, S1, 0.888,  Banco Espirito Santo SA, S1, 0,  Banco Popular Espanol SA, S1, 0.05,  Belgacom SA, S1, 0,  BG Group PLC, Q2, 0.277,  British Sky Broadcasting Group PLC, R, 0.578,  CaixaBank, S1, 0,  CNP Assurances, S1, 0,  Ebro Foods SA, S1, 0,  Lafarge SA, S1, 0.165,  Pearson PLC, S1, 0.103,  Red Electrica Corp SA, S1, 0,  Rexel SA, S1, 0,  Safran SA, S1, 1.017,  SES SA, S1, 0,  Spectris PLC, S1, 0,  Total SA, S1, 0,  Total SA, Q2, 1.197,  YIT OYJ, Q2, 0.293 European Market Summary UBS agrees to pay $885m to settle a US securities suit Vivendi sells a $8.17bn controlling stake in Activision to a group led by Activision management Italy sells €3bn in Zero bonds at 11:00 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 AbbVie Inc, Q2, 0.788,  Aon PLC, Q2, 1.103,  DTE Energy Co, Q2, 0.783,  Helmerich & Payne Inc, Q3, 1.34,  LyondellBasell Industries NV, Q2, 1.63,  Newell Rubbermaid Inc, Q2, 0.488,  Stanley Black & Decker Inc, Q2, 1.194,  Tyco International Ltd, Q3, 0.477,  Ventas Inc, Q2, 1.017,  Weyerhaeuser Co, Q2, 0.3 US Market News Halliburton agrees to plead guilty to destroying gulf oil spill evidence as it also details it is to buy back up to $3.3bn of its shares US press suggests that US authorities will attempt to recover hundreds of millions of dollars from SAC Capital Advisors representing the funds it allegedly made from illegal trading, Steven Cohen may well avoid jail but is expected to lose considerable amounts of his personal fortune Overnight Market News The Nikkei has come off over 2% overnight as the yen strengthens and as the reporting season has so far produced mixed results Toyota announces that its total global sales in H1 fell 1.25 to 4.91m, with GM out selling the group in Q2 China details that it is to cut its manufacturing capacity as it orders more than 1,400 companies in 19 industries to cut excess excess production capacity this year as it looks to more stable and slower, sustainable economic growth Samsung announced quarterly results under the forecasts as it details net income of 7.58tn won, around $7bn and under the forecasts of 8tn won seen, as purchases of its high end devices reaches saturation, while television demand stalls Top FX The British pound has dropped down to a weekly low against the euro following yesterday’s announcement on UK GDP, as expectations stay low that UK QE will end sooner rather than later 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 14:55 US July University of Michigan Confidence, 84.0 exp. 83.9 previous Economic Events No Major Events Detailed University of Michigan 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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