|
For more research & Technical Analysis from Cantor Index click here to register. UK Corporate Announcements Next announces H1 pre-tax profit of £251m just ahead of the analysts estimates on revenues of £1.64bn and states that it made a better than expected start to the year and maintains its full year targets Kier Group states that it expects trading conditions to remain demanding, as it announces a full year pre-tax profit of £70m in line with the forecasts Home Retail states that it stays confident its profit will be in line with the expectations, as it details Q2 sales of £366m, and Argos sales of £867m and that full year profit will depend on Christmas at Argos Premier Farnell announces Q2 revenues of £238m and a pre-tax profit of £18.4m down 20% Imagination Technology states that it stays confident on continued progress ahead as its momentum has continued Darty announces that all markets have remained challenging and that it will announce the results of its review in December and that its CEO is to leave Dunelm announces full year sales of £603.7m and an operating profit of £95.2m and proposes further capital returns of £65m |
|
UK Market News The FTSE Quarterly Review Committee confirmed yesterday evening that Ashmore and ICAPare to leave the FTSE 100, to be replaced by Melrose and Wood Group, with LSE, Aegis, Travis Perkins, Inmarsat, Tui Travel and Informa on the reserve list, changes will be made to the index on the close Friday 21, September Amongst UK stocks BAE Systems stays the major story after it gained strongly yesterday on the proposed tie up with EADS, with a put up, or shut up deadline of October 10 The Telegraph highlights how former HBOS director Peter Cummings has been banned from working in the city for life, and fined £500,000, for his role in the banks near collapse While the incoming chief of Barclays has called on regulators to end ‘unfair’ free banking UK sells £3.5bn in Bonds at 10:30 |
|
UK Analyst Upgrades Centamin Raised To Buy Vs Neutral At Citi Glanbia Rated New ‘Buy’ at Jefferies Signet Jewelers Rated New Buy At Citi, Pt $60 WPP Raised To Hold From Underperform At Jefferies |
|
UK Analyst Cuts BAE Cut At Socgen On Earnings, Announced Before EADS Deal |
|
UK Insider Buying Burberry Group Plc, (BRBY), 7 insider(s) bought 84,031 shares, £10.91 Barratt Developments P, (BDEV), 1 insider(s) bought 20,000 shares, £1.61 Tribal Group Plc, (TRB), 2 insider(s) bought 151,364 shares, £0.92 |
|
UK Insider Selling Centrica Plc, (CNA), insider(s) sold 23,487 shares, £3.3 Hays Plc, (HAS), 1 insider(s) sold 11,088 shares, £0.78 Jardine Lloyd Thompson, (JLT), 1 insider(s) sold 40,262 shares, £7.47 Pennon Group Plc, (PNN), insider(s) sold 5,000 shares, £7.28 |
|
European Market Summary Sources suggest that France is putting some pressure on Spain to ignore threats from German lawmakers and request formal aid from the EU The Irish Times states that the state is unlikely to meet the bank deal deadline Talanx, Germany’s third largest insurer, announces that it has cancelled its planned €700m IPO, citing weak demand and that it would not sell at just any price Italy sells up to €6bn in bonds at 10:00 |
|
S&P 500 Ex Dividends (gross):- Dr Pepper Snapple Group Inc, DPS, (.34), DTE Energy Co, DTE, (.62), Hess Corp, HES, (.10), HJ Heinz Co, HNZ, (.515), Huntington Bancshares Inc/OH, HBAN, (.04), Mead Johnson Nutrition Co, MJN, (.30), Merck & Co Inc, MRK, (.42), Range Resources Corp, RRC, (.04), Thermo Fisher Scientific Inc, TMO, (.13) |
|
Major US Stock Movers After Hours HFF Inc gained 3% in late trading as it was announced it was moving into the S&P Smallcap 600 |
|
US Market News Apple will dominate the tone early in the session as its share price moves will be closely watched following the launch of the taller, thinner iPhone 5 yesterday, which could become the fastest selling technology gadget in history This afternoon the emphasis will shift to the Fed rate announcement with an unchanged stance expected, the major focus will be on Bernanke’s press conference at 19:15 as the markets awaits any detail on possible QEIII Manhattan vacancy rates in August moved up to the highest level for three years as higher prices crimps demand US authorities now suggest that the US ambassador killed in Libya may have died as a result of a pre-planned terrorist attack |
|
Overnight Market News Former China central bank governor has stated that the yuan would probably move to a fully convertible currency by 2015 The official Xinhua news agency has stated that the talked about ‘massive’ stimulus measures would hurt long term growth and that the government hesitation in making such bold moves was pragmatic Nissan’s CEO has stated that the group is preparing for a mediocre few years ahead in its European markets but does not expect any kind of Armageddon The world is unsure of the whereabouts, or state of health, of the man who was tipped to become arguably the second most powerful man on earth, vice president Xi Jinping is yet to publicly appear for over a week, with just rumours left to fill the vacuum, doing immense damage to the reputation of Chinese diplomacy |
|
FX Summary New Zealand’s central bank has left rates unchanged at 2.5%, in line with the consensus The Bank of Korea has left interest rates unchanged at 3% also in line The dollar is still down towards four month lows against the euro today ahead of the Fed rate announcement due this afternoon |
|
Commodity Summary Corn prices came off 0.6% as the US Dept. of Agriculture lifts its estimates of US and world inventories, as users have switched to alternatives in recent weeks after the drought conditions in much of the US mid west |
|
Economic Data Due 13:30 US August PPI, 1.0% exp. 0.3% previous 13:30 US Initial Jobless Claims, 370k exp. 365 previous 17:30 US FOMC Rate Decision, 0.25% unchanged exp. |
|
Economic Events Hollande speaks at LH Forum World Bank Global Financial Position Report 19:15 Ben Bernanke Press Conference
|