Day Ahead

Wednesday, July 31, 2013, Marketing Communication Opening Call The FTSE is seen opening up around 10 points higher today UK Corporate Announcements Diageo details a full year operating profit of £3.53bn, in line, on net sales of £11.43bn and recommends a 9% increase in its final dividend Taylor Wimpey reports an H1 pre-tax profit of £109m from £76.7m on revenues of £1bn from £906m Tullow Oil announces H1 results largely in line with the forecasts, with H1 sales up 15% to $1.35bn and states it has found enough oil in Kenya to start developing fields British American Tobacco announces an H1 adjusted operating profit of £2.94bn, largely in line, with cigarette volumes down 3.4% Moneysupermarket.com reports a 6m adjusted EBITDA of £39.9m on revenues of £112.3m and states that it stays confident on its long term prospects WS Atkins states that its European business has had a steady start to the year, and is trading in line Diageo details a full year operating growth of 8% and net sales growth of 5% Centrica states that it remains on track to meet its full year earnings targets despite the challenging market conditions Rightmove announces H1 revenues gained 16% to £67.2m and an underlying operating profit of £49m up 15% Millenium & Copthorne states that trading overall is in line but stays cautious on the outlook for hospitality markets St James Place reports an H1 pre-tax profit of £90.1m and an NAV of 165.8p with funds managed up to £39.9bn UK News The Telegraph writes on how three of the UK’s leading economists feel that the UK economy is close to 'escape velocity' BT is seen planning to split its BT Retail division as part of a restructuring, as it looks to increase focus on competitors such as BSkyB The Times writes on how Whitehall officials believe that a Cabinet Office inquiry into the former senior management of the SFO was deliberately misled BP details that it has now allocated virtually all of the $20bn compensation fund for Deepwater Horizon, increasing concerns that future profits may yet be impacted UK Analyst Changes Aberdeen Asset Management Raised To Buy Vs Hold At Socgen Barclays Cut To Hold Vs Buy At Socgen Bp Pt Cut To 530P Vs 540P At Bofaml; Kept At Buy Gkn Plc Raised To Overweight Vs Neutral At Jpmorgan Gkn Pt Raised To 370P Vs 350P At Bofaml; Kept At Buy Next Cut To Hold Vs Buy At Deutsche Bank Sthree Plc Cut To Sector Perform Vs Outperform At Rbc Telecity Cut To Neutral Vs Buy At Ubs UK Insider Buying Wolseley Plc, (WOS), 1 insider(s) bought 3250 shares, £31.5 Wincanton Plc, (WIN), 1 insider(s) bought 25000 shares, £0.74 UK Insider Selling Domino's Pizza Group P, (DOM),  insider(s) sold 70000 shares, £5.78 Hogg Robinson Group P, (HRG),  insider(s) sold 2701750 shares, £0.7 Reckitt Benckiser Grou, (RB/),  insider(s) sold 345 shares, £46.99 FTSE 100 Movers Major European Companies Reporting Banco Comercial Portugues SA, S1, 0,  Danone SA, S1, 1.479,  Distribuidora Internacional de Alimentacion SA, S1, 0,  Galp Energia SGPS SA, S1, 0,  Hammerson PLC, S1, 0.117,  Intertek Group PLC, S1, 0.629,  JCDecaux SA, S1, 0.38,  Reckitt Benckiser Group PLC, S1, 1.184,  Ryanair Holdings PLC, Q1, 0.061,  Sika AG, S1, 54.65,  TNT Express NV, Q2, 0.077 European Market Summary Alcatel-Lucent is selling a small stake of itself to Qualcomm as it looks to attract new technology investors to lift its R&D development The EU yesterday agreed to give Peugeot Citroen’s in house banking arm a financial guarantee from the French state Germany sells €2bn in Bonds at 11:30 Global Market Footprint Major US Stock Movers After Hours Cubist Pharm. announces it is buying Trius Therapeutics for $13.50, around $700m in cash, with Trius up 17% after hours on the news Jive Software fell 17.5% as it announces full year revenues of $144-146m, under the forecasts as it also detailed a wider than expected Q3 EPS S&P 500 Companies Reporting Anadarko Petroleum Corp, Q2, 0.905,  Eastman Chemical Co, Q2, 1.634,  Express Scripts Holding Co, Q2, 1.103,  FMC Corp, Q2, 0.94,  Franklin Resources Inc, Q3, 0.848,  Hartford Financial Services Group Inc, Q2, 0.71,  Jacobs Engineering Group Inc, Q3, 0.841,  Loews Corp, Q2, 0.73,  Masco Corp, Q2, 0.198,  Northeast Utilities, Q2, 0.519,  Plum Creek Timber Co Inc, Q2, 0.234,  Roper Industries Inc, Q2, 1.297,  Simon Property Group Inc, Q2, 2.07,  XL Group PLC, Q2, 0.611 US Market News US regulators continue to make arrests around its investigations into SAC Capital, as another outside analyst has been accused of passing illegal tips to SAC, Sandeep Aggarwal formerly a technology stock analyst at Collins Stewart Chevron has seen organising a senior legal team to target Steven Donziger who won an $18bn case over oil spills in jungle in Ecuador, but Chevron now alleges that he manipulated evidence and bribed judges The NY Times details how after a successful court ruling US government authorities can now extract historical location data from mobile phones without a search warrant Overnight Market News Bloomberg details how only Greece’s stock market has fallen by more than the Shanghai Composite Index, as it still trades 43% off its al time highs as the government continues in its efforts to rein in the £1.6tn lending boom seen in 2009 HTC has traded lower as it warns that it may make an operating loss in the current quarter, its first ever, it dropped 7% overnight Top FX The pound continues its recent slide on the expectation that the Bank of England tomorrow will continue to state that it prefers additional stimulus Bloomberg details the increasing practice of ‘Scraping’ in Venezuela where international travellers have their credit card swiped locally to receive dollars, charged at the official rate of 6.3 bolivars/dollar. But can then sell the dollars at the street rate, illegally, at 29 to 1 Top Commodity Potash is the leading commodity story after Uralkali pulls out of one of the larger cartels in the sector, as it alleges others in the partnership of violating an agreement Economic Data Due 09:30 UK June Mortgage Approvals, 59.2k exp. 58.2k previous 15:00 US June Pending Home Sales m/m, -1.2% exp. 6.7% previous Economic Events No Major Events Detailed UK Mortgage Approvals 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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