Day Ahead

Tuesday, August 6, 2013, Marketing Communication Opening Call The FTSE is seen opening down around 20 points today UK Corporate Announcements BBA Aviation details an H1 pre-tax profit of $63.2m on revenues of $1.11bn from $1.09bn stating they results were strong given the broadly flat markets Rotork reports H1 revenues of £276.1m up 12.3% and an adjusted EPS of 57.6p InterContinental Hotels reports H1 revenues of $936m up $878m and an operating profit of $338m and stays confident on its outlook Meggitt reports an H1 underlying pre-tax profit of £182.4m from £170.1m on revenues of £810.1m from £776m and states that it has the capacity to grow in core markets with acquisitions SDL announces H1 revenues of £131m and states that its transformation program remains on track but that investments were taking longer to come through than anticipated Greggs announces H1 group sales of £363m up 3.4% and states t expects full year profits to come in around £3m under the expectations T Clarke announces an adjusted operating profit of £800,000, on revenues of £114.7m 888 Holdings states that Q3 has begun in line with the expectations, as it details Q2 revenues gained to $97m from $92m UK News BP is back in the news after a trainee reportedly inadvertently blew the whistle on the internal practices undertaken to manipulate gas prices Bank of Scotland has been fined £75k for repeatedly faxing bank statements, payslips and other sensitive documents to wrong numbers The UK sells £4.5bn in bonds at 10:30 UK Analyst Changes Buy Rio Tinto, Offers Attractive Value With Yield Support: UBS HSBC Cut to 'Overweight' at Citic Securities Intertek Group Raised To Sector Perform Vs Underperform At Rbc Moneysupermarket.Com Cut To Neutral Vs Buy At Ubs Segro Cut To Neutral Vs Buy At Ubs Sirius Minerals Cut To Underperform Vs Buy At Jefferies Unilever Cut To Neutral Vs Overweight At Jpmorgan UK Insider Buying Intu Properties Plc, (INTU), 1 insider(s) bought 6000 shares, £3.33 F&C Asset Management P, (FCAM), 1 insider(s) bought 10000 shares, £1 Colt Group Sa, (COLT), 1 insider(s) bought 10000 shares, £1.02 UK Insider Selling Domino's Pizza Group P, (DOM),  insider(s) sold 5410179 shares, £5.7 Kcom Group Plc, (KCOM),  insider(s) sold 930000 shares, £0.84 Gable Holdings Inc, (GAH),  insider(s) sold 500000 shares, £0.54 Atkins (Ws) Plc, (ATK), 1 insider(s) sold 10000 shares, £11.54 Brammer Plc, (BRAM), 1 insider(s) sold 24277 shares, £4.15 Rathbone Brothers Plc, (RAT), 1 insider(s) sold 5000 shares, £16.35 FTSE 100 Movers Major European Companies Reporting Credit Agricole SA, S1, 0.52,  Davide Campari-Milano SpA, S1, 0,  Deutsche Post AG, Q2, 0.306,  Fresnillo PLC, S1, 0.315,  InterContinental Hotels Group PLC, S1, 0.64,  Koninklijke DSM NV, S1, 1.56,  Lanxess AG, Q2, 0.47,  Legal & General Group PLC, S1, 0.073,  Meggitt PLC, S1, 0.171,  Merck KGaA, Q2, 2.225,  Muenchener Rueckversicherungs AG, Q2, 3.1,  Natixis, S1, 0,  OC Oerlikon Corp AG, S1, 0,  Porsche Automobil Holding SE, S1, 0,  Rotork PLC, S1, 0,  Sky Deutschland AG, Q2, -0.009,  Standard Chartered PLC, S1, 1.157,  UniCredit SpA, S1, 0,  UPM-Kymmene OYJ, Q2, 0.17 European Market Summary Credit Agricole was due to report earnings today but that accidentally published the details early on its website, it details how its profitability gained significantly after the successful sale of its unprofitable Greek unit Greece sells €625m in Bills at 11:00 and the ESM sells up to €3bn in Bills at 12:30 Global Market Footprint Major US Stock Movers After Hours The Washington Post gained 5% as the CEO of Amazon, Jeff Bezos, agrees to buy the struggling paper for $250m, the NY Times also gained 2% after hours on the news Responsys gained 10% after hours as the company announced Q2 revenues up 25% and boosts its full year targets, with positive newsflow also causing Bloomberg Social Velocity Alerts to be triggered, BSV (Go) Bloomberg Social Velocity monitors the total mentions of a stock on Social Media, and then alerts when volumes have moved outside ‘normal’ thresholds, from today a list of the days Bloomberg Velocity Alerts will be included on this note American Eagle fell 17% as it reports a Q2 EPS under half of the consensus citing the ‘highly promotional retail environment’ S&P 500 Companies Reporting CF Industries Holdings Inc, Q2, 7.614,  CH Robinson Worldwide Inc, Q2, 0.736,  Cognizant Technology Solutions Corp, Q2, 0.973,  Computer Sciences Corp, Q1, 0.653,  CVS Caremark Corp, Q2, 0.96,  DaVita HealthCare Partners Inc, Q2, 1.84,  Denbury Resources Inc, Q2, 0.356,  Dominion Resources Inc/VA, Q2, 0.648,  Emerson Electric Co, Q3, 0.982,  EOG Resources Inc, Q2, 1.727,  First Solar Inc, Q2, 0.566,  FirstEnergy Corp, Q2, 0.538,  Fossil Group Inc, Q2, 0.929,  Harman International Industries Inc, Q4, 0.857,  Health Care REIT Inc, Q2, 0.916,  IntercontinentalExchange Inc, Q2, 2.129,  International Flavors & Fragrances Inc, Q2, 1.184,  Marathon Oil Corp, Q2, 0.708,  Molson Coors Brewing Co, Q2, 1.395,  Parker Hannifin Corp, Q4, 1.964,  Regeneron Pharmaceuticals Inc, Q2, 1.745,  Rowan Cos Plc, Q2, 0.554,  Sempra Energy, Q2, 1.283,  Spectra Energy Corp, Q2, 0.319,  Tenet Healthcare Corp, Q2, 0.708,  Twenty-First Century Fox Inc, Q4, 0.346,  Walt Disney Co/The, Q3, 1.016,  Zoetis Inc, Q2, 0.356 US Market News IBM details that it is requiring the majority of its US employees in its hardware unit to take a week off with reduced pay, as it looks to cut costs as demand has softened for server products The WSJ suggests that Neiman Marcus the specialty apparel chain, has hired Credit Suisse and JP Morgan as lead underwriters for a planned IPO, after it spent the last few weeks looking for an SWF buyer The paper also writes that the FBI has discovered vulnerabilities in the governments system for preventing ‘market-moving’ economic reports from being leaked to traders ahead of public release Bloomberg Social Velocity Alerts, BSV Google Inc (GOOG) Michael Kors Holdings Ltd (KORS) Inovio Pharmaceuticals Inc (INO) Sony Corp (SNE) Overnight Market News Daniel Loeb has stated that he is disappointed with Sony’s decision not to move on a possible spinoff and IPO of its Entertainment unit, but states that he still seeks an ongoing dialogue The Reserve Bank of Australia cuts its rate to a record of 2.5%, in line with forecasts, and states that the Aussie dollar stays high despite the 15% falls since April Bloomberg highlights how investors looking for diversification in Hong Kong have been moving into the local taxi market, the cost of a license with a taxi topped $987,600 in June, up over 80% since 2009, increasing fears of another asset bubble Top FX The Indian rupee has now fallen to a record low of 61.265 against the dollar Top Commodity The Cook Islands is hoping to become one of the richest countries in the world, on a per capita basis, as it tests technology to send robots to the sea floor to collect highly sought after minerals Economic Data Due 09:30 UK June Industrial Production m/m, 0.5% exp. 0.0% previous 09:30 UK June Manufacturing Production y/y, 0.7% exp. -0.8% previous 13:30 US June Trade Balance, -$43.5bn exp. -$45.0bn previous Economic Events Fed's Evans Speaks in Chicago US Manufacturing Production 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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