Day Ahead

Wednesday, July 3, 2013, Marketing Communication Opening Call The FTSE is seen opening down around 30 points UK Corporate Announcements Tullow Oil states it sees H1 revenues at around $1.25bn and tightens its full year output guidance to 86-90 boepd Carillion reports that H1 trading has been in line and sees H2 revenues as gaining in line with the forecasts Domino’s Pizza details UK comp sales gained 6.4% in H1 and states that it was pleased with its total results in the half Begbies Traynor announces a full year adjusted pre-tax profit of £6.7m on revenues of £51.1m Perfrom Group announces a placing to raise around £120m UK News The BRC has May overall shop prices down by the most since February 2007 S&P has cut its rating on Barclays, Deutsche Bank and Credit Suisse from A+ to A, citing new business rules and ‘uncertain market conditions’ Carphone Warehouse is seen selling 42.1m shares at £2.44, a stake of some 7.5%, against the close of £2.51, on behalf of Best Buy Ofcom announces that it is planning to cut phone line switching fees to £10-15 and would reduce the minimum contract lengths to make switching easier, to boost broadband competition ITV will be eyed after reports that Bertelsmann may target it, or UBM, in a hunt for assets Ocado’s chief states that he expects further high street closures, and urged rivals, such as Philip Green,  to stop complaining and that more traditional shops needed to close RBS appoints former BofE deputy governor Andrew Large to lead its review of its lending to small businesses FTSE 100 Dividends: British Land Co PLC, BLND, (6.6g),  Babcock International Group PLC, BAB, (20),  Burberry Group PLC, BRBY, (21) FTSE 100 Estimated Dividend Impact: 0.9 points FTSE 250 Dividends: Cranswick PLC, CWK, (20.60),  De La Rue PLC, DLAR, (28.20),  Halfords Group PLC, HFD, (9.10),  Homeserve PLC, HSV, (7.67),  ITE Group PLC, ITE, (2.30),  Paragon Group of Cos PLC, PAG, (2.40),  TalkTalk Telecom Group PLC, TALK, (6.95) FTSE Small Share: Dunedin Smaller Companies Investment Trust PLC, DNDL, (2.05),  E2V Technologies PLC, E2V, (2.80),  Helical Bar PLC, HLCL, (3.70),  Lowland Investment Company PLC, LWI, (8.50),  Martin Currie Pacific Trust PLC, MCP, (6.50),  Martin Currie Portfolio Investment Trust PLC, MNP, (.90), Sepura PLC, SEPU, (1.17),  Shanks Group PLC, SKS, (2.35),  Shires Income PLC, SHRS, (3),  Troy Income & Growth Trust PLC, TIGT, (.525) UK Analyst Changes Arm Added To Ubs’S European Key Call List Arm Raised To Buy Vs Neutral At Ubs Aveva Named A Most Preferred Stock At Citi, Replaces Fenner Betfair, Bellway Added To Citi’S Key Buys Homeserve Named Least Preferred Stock, Replaces Renishaw: Citi Lse Resumed Overweight At Morgan Stanley, Pt 1,570P Randgold Resources Raised To Neutral Vs Sell At Citi Rbs Removed From Ubs’S European Key Call List William Hill, Sig Cut From Citi’S Key Buys UK Insider Buying Brown (N) Group Plc, (BWNG), 1 insider(s) bought 827 shares, £4.78 Camco Clean Energy Plc, (CCE), 1 insider(s) bought 2500000 shares, £0.02 Densitron Technologie, (DSN), 1 insider(s) bought 77612 shares, £0.06 Falkland Islands Hldn, (FKL), 1 insider(s) bought 5000 shares, £3.7 Immunodiagnostic Syst, (IDH), 2 insider(s) bought 6219 shares, £4.51 Internetq Plc, (INTQ), 1 insider(s) bought 4000 shares, £3.06 Legal & General Group, (LGEN), 5 insider(s) bought 9054 shares, £1.74 National Grid Plc, (NG/), 1 insider(s) bought 12000 shares, £7.51 Pan European Terminal, (PAN), 1 insider(s) bought 50000 shares, £0.2 Rws Holdings Plc, (RWS), 1 insider(s) bought 1380 shares, £7.2 Vianet Group Plc, (VNET), 1 insider(s) bought 3000 shares, £0.74 UK Insider Selling Intl Consolidated Airli, (IAG),  insider(s) sold 87311 shares, £2.65 Invensys Plc, (ISYS), 1 insider(s) sold 10485 shares, £4.12 Lxb Retail Properties, (LXB),  insider(s) sold 468750 shares, £1.15 Rpc Group Plc, (RPC),  insider(s) sold 78126 shares, £4.05 FTSE 100 Movers Major European Companies Reporting Barclays PLC,  C&C Group PLC,  Carillion PLC,  Chr Hansen Holding A/S,  Chr Hansen Holding A/S,  Finmeccanica SpA,  Home Retail Group PLC,  International Consolidated Airlines Group SA,  Tullow Oil PLC,  Tullow Oil PLC,  Voestalpine AG,  William Hill PLC European Market Summary Portuguese yields have moved higher as its PM states that he will not resign following the resignation of a key coalition partner Ulster Bank announces that it is to cut an additional 1,800 jobs Sources suggest that Liberty Global is unlikely to lift its offer for Kabel Deutschland after Vodafone’s moves Germany sells €4bn in bonds at 11:30 Global Market Footprint Major US Stock Movers After Hours None Detailed S&P 500 Companies Reporting None Detailed US Market News The US markets close early today ahead of the Independence Day holiday tomorrow Prudential Financial the second largest US life insurer is challenging its status that it poses a potential risk to the financial system, a status which triggers an additional round of supervision and regulation Pimco details how investors pulled out almost $10bn from its Total Return Fund in the past month, following the statements from the Fed, leaving the world’s largest mutual fund with around $268bn in assets Overnight Market News China National Petroleum Corp is to take a stake in Kazakhstan’s Kashagan oilfield in a $5bn deal Chinese markets came off overnight, led by banks and industrials, with the likes of ICBC down 2% Three former Olympus executives have been sentenced for their role in the accounting scandal, with the ex Chairman receiving a 3 year suspended sentence Top FX The Winkevosses are back in the news as they attempt to list a $20m Bitcoin ETF, but they are expected to have a tough time persuading the regulators to allow an ETF to track a virtual asset Top Commodity WTI Crude prices have moved back above $100 on the ongoing tensions in Egypt, for the first time in 2013 Economic Data Due 09:00 Eurozone June PMI, 48.6 exp. 48.6 previous 09:30 UK June PMI Services, 55.0 exp. 54.9 previous 13:30 US May Trade Balance, -$40.2bn exp. -$40.3bn previous 13:30 US Initial Jobless Claims, 345k exp. 346k previous 15:00 US June Non Manufacturing ISM, 54.2 exp. 53.7 previous Economic Events None Detailed US Trade Balance 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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