Day Ahead

Tuesday, August 20, 2013, Marketing Communication Opening Call The FTSE is seen opening down around 30 points on the open today UK Corporate Announcements Persimmon announces an H1 pre-tax profit of £132.9m up from £96.5m on revenues of £899.9m from £96.5m John Wood Group reports H1 revenues from continuing operations of $3447m from $3346m and an EBITA of $243.2m from $205m and anticipates the full year will be in line Cairn Energy details an after tax six month loss of $219m from the profit of 437.1m James Fisher announces it is buying Osiris for £3.25m and details that H2 trading has been as expected and H1 adjusted pre-tax profit came in at £19.4m from £16.9m John Menzies reports an H1 underlying revenue of £997m and a pre-tax profit of £22.8m and states that the core markets remain tough but that it is well positioned to progress Glencore Xstrata reports an H1 adjusted net income of $2.04bn ahead of the forecasts of $1.87bn seen on revenues of $121.4bn down 2%, and takes a $7.7bn goodwill impairment charge on the Xstrata acquisition UK News RBS is seen announcing its decision on its branch network sale or flotation as early as this week Blackstone has reportedly sold its its 50% stake in the Broadgate office complex for £1.7bn reportedly to an SWF The Telegraph writes on how Rich Ricci formerly of Barclays is thought to be one of the investors behind plans for a new European stock exchange The Guardian details that UK financial companies have increased the base salaries of their ‘star performers’ by 20%, sidestepping the EU bonus cap The BBC highlights a new survey which suggests that male bonuses on average are double those paid to women The Competition Commission states that Cineworld may need to sell cinemas in three regions, after its completed acquisition of City Screen Limited The winner of the funniest joke at the Edinburgh Fringe has been awarded to Rob Auton’s: "I heard a rumour that Cadbury is bringing out an oriental chocolate bar. Could be a Chinese Wispa." Other contenders were Liam Williams - "The universe implodes. No matter." and Tim Vine - "My friend told me he was going to a fancy dress party as an Italian island. I said to him Don't be Sicily." The UK sells £1.75bn in 2019 bonds at 10:30 UK Analyst Changes Compass Group Raised to 'Outperform' at RBC Capital Vedanta Cut To Neutral Vs Buy At Bofaml UK Insider Buying None Detailed UK Insider Selling Jarvis Securities Plc, (JIM),  insider(s) sold 435000 shares, £4 FTSE 100 Movers Major European Companies Reporting BHP Billiton PLC, R, 2.454,  Cairn Energy PLC, S1, -0.1,  CRH PLC, S1, -0.019,  Glencore Xstrata PLC, S1, 0.15,  John Wood Group PLC, S1, 0.467,  Lindt & Spruengli AG, S1, 0,  Persimmon PLC, S1, 0.328,  Topdanmark A/S, Q2, 2.559 European Market Summary Spain sells 6 and 12 month bills at 10:30 and the ESM sells up to €1.5bn in Bills at 12:30 Global Market Footprint Major US Stock Movers After Hours Urban Outfitters gained 5% as it announced Q2 comparable sales gained 9% LightInTheBox slumped 34% after it reported Q3 revenues well under the expectations S&P 500 Companies Reporting Analog Devices Inc, Q3, 0.544,  Best Buy Co Inc, Q2, 0.119,  Home Depot Inc/The, Q2, 1.208,  Intuit Inc, Q4, 0.019,  JC Penney Co Inc, Q2, -1.074,  Medtronic Inc, Q1, 0.881,  TJX Cos Inc, Q2, 0.633 US Market News The WSJ writes that the US Justice Department is investigating allegations that JP Morgan manipulated US energy markets The paper also suggest that Cummins Inc is due to announce today that it has signed an agreement to supply Nissan Motor with diesel engines Twenty First Century Fox has increased its legal costs budget by $110m as cases around illegal reporting tactics at News Corp continue to mount Eisai is in the news as it takes the unusual step of suing the US FDA for failing to sign off on its epilepsy drug fast enough Amazon.com website in the US suffered an outage of around half an hour yesterday, which comes on top of the recent outage at Google Today's Bloomberg Social Velocity Alerts, (BSV) Lightinthebox Holding Co Ltd (Litb) Overnight Market News The Indian rupee has continued the recent falls and falls a further 1% and down to fresh record lows, and the Indian 10 year bond yield is up 25bps to 9.49% the highest level for over a decade The Jakarta Stock Exchange Composite has dropped over 10% in the past three days, down over 5% today, the largest four day drop since the height of the financial crisis in 2008, on increasing concerns that capital outflows are accelerating, and the rupiah fell 2% to lows last seen in 2009 As capital increasingly returns back to the US on the expectations of US Fed Tapering, starting to reverse the significant outflows to emerging markets seen with QE Everbright Securities came off 10% as it details the issues that led to the flash spike in the Shanghai Exchange last week Economic Data Due 13:30 US July Chicago Fed Nat Activity, 0.13 previous Economic Events No Major Events Detailed UK Rightmove 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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