Market news round up, upgrades & downgrades courtesy of Cantor Index
|
For more research & Technical Analysis from Cantor Index click here to register. UK Corporate Announcements Glencore details that it continues to diligently look to its own growth pipeline as it details H1 sales of $108bn ahead of forecasts of around $95bn seen Persimmon announces an H1 net profit of £68.4m from £77.5m on revenues of £806m from £712m with an NAV of £6.25 up 4% and states it is to return up to £1.9bn to shareholders John Wood Group states that it maintained its momentum over the six months to end June, with revenues of $3.3bn up 36% James Fisher states that trading has been in line with the expectations Johnson Press states that it still sees 2012 in line with its forecasts as it reports an H1 adjusted EPS of 2.09p Afren details H1 revenue of $771m from $161m and a pre-tax profit of $103m from $44m and states that it remains on track to meet its full year guidance Lok’n Store states that trading has been in line with the expectations Severfield announcees that it sees a challenging half ahead, as it announces H1 revenues of £135m and a profit of £2.3m from £4m |
|
UK Market News Bloomberg highlights how the BBA is increasingly coming under pressure to become more open, currently the representatives of the world’s largest banks meet ‘at an undisclosed location’ to review LIBOR, no minutes are published and it does not identify who attends. Stating it would not want members to be lobbied, while critics suggest that the BofE MPC seems to manage TNK BP stays in the news as it alleges that a former logistics manager took $13m in bribes to award contracts Tesco could face a fine after a raid by authorities in a facility in Croydon earlier in the year found numerous breaches of visa rules, and that arrests were made, and that many face deportation Barclays announces that it is in discussions with ABSA to combine their African operations Ofcom details today that it is to allow Everything Everywhere to deliver 4G services over its existing 1800mhz spectrum The Edinburgh fringe details its Top 10 one liners this year, with Rob Beckett’s ‘You know you’re working class when your TV is bigger than your book case’ one of those making the list |
|
UK Analyst Upgrades Burberry Removed As Least Preferred Luxury Goods Stock At Citi Chemring Pt Raised To 430P From 360P At Citi Kingspan Raised To Buy From Neutral At Ubs Reed Elsevier Pt Raised To 670P Vs 605P At Citi, Stays Buy Weir Rated New Buy at Deutsche Bank; PT 2,150p |
|
UK Analyst Cuts Amlin Cut To Underperform From Neutral At Bofa Travis Perkins Cut To Sell From Hold At Berenberg |
|
UK Insider Buying Centamin Plc, (CEY), 1 insider(s) bought 30,000 shares, £0.74 Hill & Smith Holdings P, (HILS), 1 insider(s) bought 6,500 shares, £3.34 |
|
UK Insider Selling Hill & Smith Holdings P, (HILS), 1 insider(s) sold 3,902 shares, £3.21 |
|
Major European Companies Reporting Afren PLC, S1, 0.1, Coca Cola Hellenic Bottling Co SA, Q2, 0.373, Glencore International PLC, S1, 0.21, John Wood Group PLC, S1, 0.372, Lindt & Spruengli AG, S1, 16.5, Persimmon PLC, S1, 0.219, Straumann Holding AG, S1, 3, Topdanmark A/S, Q2, 20.956, Wienerberger AG, Q2, 0.233 |
|
European Market Summary Chinese wine makers have officially petitioned authorities alleging European winemakers are dumping product onto the Chinese market Moody’s states that peripheral nations in the eurozone are at best half way through the required changes Spain is due to sell 12 and 18 month bills today and the EFSF is due to sell up to €1.5bn in 182 day bills |
|
S&P 500 Companies Reporting Analog Devices Inc, Q3, 0.563, Best Buy Co Inc, Q2, 0.314, Dell Inc, Q2, 0.454, Intuit Inc, Q4, 0.061, Medtronic Inc, Q1, 0.852 S&P 500 Ex Dividends (gross):- Applied Materials Inc, AMAT, (.09), Allergan Inc/United States, AGN, (.05), Marriott International Inc/DE, MAR, (.13), Wyndham Worldwide Corp, WYN, (.23), Zions Bancorporation, ZION, (.01), Ltd Brands Inc, LTD, (.25), Ltd Brands Inc, LTD, (1) |
|
Major US Stock Movers After Hours Dreamworks gained over 4% as it announces a 5 year distribution pact with 20th Century Immuncellular fell over 14% in late trading as it announces that its CEO has stepped down |
|
US Market News Apple continues its share price gains and posted a fresh milestone yesterday, where in intraday trading the company became the world’s most valuable company ever, larger than Microsoft was at its peak, with a market cap of $665bn, Apple currently gains around 70% of its profits from the iPhone While the likes of Facebook and Groupon stays in the news as their share prices continue to fall, with Groupon yesterday down to a fresh all time low Aetna announces a $5.6bn deal for Coventry Health as consolidation in the sector continues as the Baby Boomers move into retirement, with Moody’s stating that it will review its long term debt ratings as a result of the deal Whitman Capital’s Doug Whitman has been found guilty of insider trading An official has stated that Belize will be unable to make a bond payment today The VIX gained a touch yesterday up 4.2% to 14.02 but remains at historically low levels, keeping contrarians nervous of a stock market falls ahead JetBlue responds to talk and states that it has no interest in a merger with AMR Corp’s American Airlines unit Best Buy has seemingly rejected moves from its founder Richard Schulze as it has appointed a new CEO, Hubert Joly, Schulze is attempting with private equity partners to buy his old business for $9.5bn and stated he was shocked by the appointment US press highlights how US venture capitalist Peter Thiel has sold most of his stake in Facebook, he was one of the early investors, with $500k back in 2004, and has sold most of his stake for proceeds of around $1bn |
|
Overnight Market News Hong Kong states that as UK authorities are looking at Libor, it will need to look at its ‘sister rate’ Hibor, the Hong Kong interbank offered rate Asian markets have moved up to three month highs as confidence continues to build that EU leaders have done enough to stall the euro break up concerns for the moment, and ahead of more planned meetings amongst EU leaders this week CNOOC announces H1 net profit of $5bn (31.8bn yuan) under the forecasts as the largest Chinese offshore oil and gas explorer was impacted by the closure of its largest domestic offshore oilfield Noble Group, the largest listed commodity supplier, flags up its interest in the US market, stating that it was difficult to be the supplier and partner of choice for China without having significant organisation assets in the US
|
|
FX Summary The euro has continued to hold up well, ahead of Juncker’s meeting in Greece tomorrow to discuss Greek efforts to extend the fiscal ‘adjustment’ program The Canadian dollar has moved to near three month highs as the outlook on the eurozone and therefore the global economy continues to lift |
|
Commodity Summary Soybean futures have climbed up to a fresh record, after having gained 41% this year Bloomberg details that Indonesia has idled around 70% of its tin smelting capacity this year as prices have fallen over 30% in 2012, Indonesia usually accounts for around 40% of global exports |
|
Economic Data Due 09:30 UK July PSNCR, £3.0bn previous 11:00 UK CBI Trends, -8 exp. -6 previous |
Comments (0)