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UK Corporate Announcements
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Debenhams announces it sees a full year pre-tax profit in line with the expectations, and that its strategy is starting to work and that its modernised stores are performing well, and its profit is ahead of last year JD Sports reports an H1 adjusted pre-tax profit of £556m up 26.4% and a pre-tax profit of £2.9m from £20.1m Galliford Try announces full year revenues of £1.5bn and a full year pre-tax profit of £63.1m from £35.1m |
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UK Market News The FT suggests that Airbus has been touted as a possible name for any combination of EADS and BAE Systems, although a French minister has stated that a lot of questions remain on any deal Cable & Wireless has reportedly started talks to sell its group of remote island networks for as much as $1bn Lonmin’s talks with striking South African miners are still ‘far apart’ according to a government mediator |
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UK Analyst Upgrades Unilever Plc Rated New Buy At Berenberg; Pt Gbp27.00 Unilever Nv Raised To Buy From Hold At Berenberg |
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UK Analyst Cuts Aegis Cut To Neutral From Buy At Nomura Aviva Cut To Hold Vs Buy At Deutsche Bank Dunelm Cut To Hold Vs Buy At Deutsche Bank Electrocomponents Cut To Underperform Vs Sector Perform At Rbc |
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UK Insider Buying Computacenter Plc, (CCC), 1 insider(s) bought 20,000 shares, £4.02 Sig Plc, (SHI), 1 insider(s) bought 116 shares, £1.07 |
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UK Insider Selling British Land Co Plc, (BLND), insider(s) sold 30,000 shares, £1.38 Legal & General Group, (LGEN), insider(s) sold 124,954 shares, £2.57 Premier Oil Plc, (PMO), 1 insider(s) sold 149,303 shares, £3.83 |
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European Market Summary The Irish Times suggests that the government could issue 40 year bonds to save state billions tied up in Anglo Irish Bank ECB governing council member Coene has stated that rising bond yields may yet force Spain to ask for formal aid and submit to the ECB’s conditions for granting it Spain is due to sell 12 and 18 month bills today, while the EFSF is to sell up to €2bn in bills The trial of the former UBS rogue trader continues and details show how he lost over £125,000 with his own account at IG Index, an account he held outside of the banks rules The FT writes that as much as $64bn is seen exiting Swiss banks as international authorities increase the pressure on tax evasion |
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S&P 500 Companies Reporting FedEx Corp, Q1, 1.407 S&P 500 Ex Dividends (gross):- International Game Technology, IGT, (.06), Safeway Inc, SWY, (.175), Tiffany & Co, TIF, (.32), Total System Services Inc, TSS, (.10), Xcel Energy Inc, XEL, (.27) |
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Major US Stock Movers After Hours OxiGene gained a hefty 45% after hours as it announces it had been given the approval for a special protocol assessment on its thyroid cancer treatment HNI fell around 10% after hours as it details softer demand on office furniture Advanced Micro Devices also came off over 10% as it announces that its CFO is to leave to seek other opportunities OCZ Technology also came off around 8% as its CEO announces that he has quit |
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US Market News Apple’s shares gained to over $700 in after-hours trading, up to a fresh record as the initial iPhone sales numbers have met the high expectations, the stock is now up over 70% this year Peregrine Financial’s CEO remains behind bars while the judge evaluates the flight risk over releasing him ahead of his trial, where he has already pleaded guilty to fraud |
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Overnight Market News US based Dole Foods announces it is to sell assets to Itochu for $1.65bn in cash Anti Japanese protests in China have gathered pace as the arguments over the disputed islands continues to impact upon the $340bn in trade between the two nations, September 18th is also the anniversary of Japanese occupation of parts of mainland China in 1931 |
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FX Summary The Sri Lankan Central bank has left rates unchanged The Aussie dollar has weakened a touch after the release of the RBA meeting minutes, as they cited how officials were concerned that the strong currency could damage the economy, increasing talk of possible rate cuts ahead Moody’s has cut its ratings outlook on Argentina to negative from stable |
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Commodity Summary Oil posted some quite sharp falls intraday yesterday, around 2.4%, leading some to even suggest a major ‘fat finger’ event had occurred somewhere to trigger the selling, although the exchanges have played down the talk, leaving rumours on a possible strategic reserve release the major factor Fortescue Metals gained yesterday after it secured $4.5bn in new loans, reducing fears that it would need to sell assets, or undertake a capital raising Bloomberg details how Gold prices in recent months have continued a historically high correlation with inflation expectations, and a recent spike in inflation expectations is suggesting gold is due a move back to its all time highs, with moves to $2,000 |
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Economic Data Due 09:30 UK August CPI, 0.5% exp. 0.1% previous 10:00 German September ZEW Survey -20 exp. -25.5 previous For more interesting research & professional Technical Analysis from Cantor Index click here to register for free. |