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For more interesting research & professional Technical Analysis from Cantor Index click here to register for free. UK Corporate Announcements Halfords announces group Q2 retail gained 4.3% and that it has a good pipeline of new centres Victrex states that the positive trend growth in H1 has continued in H2 Carillion states that it is well placed to achieve its medium term targets Ted Baker reports H1 revenues of £118.6m up 15.4% and states that it was performing well in the uncertain trading environment |
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UK Market News The Bank of England rate announcement at 12:00 will be the major focus of attention for UK markets today, followed by the 12:45 ECB rate announcement Sources suggest that Unilever may be looking to sell off its Skippy peanut butter brand, and could be worth as much as $400m FirstGroup is reportedly looking at possible legal action over the costs involved in the government U-turn on the West Coast rail franchise BG confirms that it is to sell its majority stake in Gujarat Gas for around $470m |
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UK Analyst Upgrades De La Rue Raised to Overweight from Neutral at JPMorgan Firstgroup Raised To Neutral From Sell At Ubs Tate & Lyle Raised To Outperform Vs Neutral At Credit Suisse |
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UK Analyst Cuts N Brown Cut To Underperform From Neutral At Exane Pennon Group Pt Cut 7% To 700P At Exane; Kept At Underperform Sportingbet Cut to Hold from Buy at Deutsche Bank Tesco Pt Cut 8% To 300P At Exane; Kept At Underperform |
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UK Insider Selling Bhp Billiton Plc, (BLT), 3 insider(s) sold 136,985 shares, £19.63 Diageo Plc, (DGE), insider(s) sold 1,633 shares, £17.59 |
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Major European Companies Reporting Gerresheimer AG, Q3, 0.703 |
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European Market Summary The ECB is seen leaving rates unchanged, and the governor of the Bank of Spain is due to speak in parliament today Turkey has responded with artillery fire after Syrian shelling has killed 5 people As part of its spending cuts Telefonica is seen selling off its corporate Gulfstream jets and it has confirmed that it does plan an IPO of its German unit Lagarde has stated that she does not think that the euro area will ‘implode’ in response to a question from a journalist Spain is due to sell up to €4bn in bonds at 09:30 |
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S&P 500 Companies Reporting S&P 500 Ex Dividends (gross):- Campbell Soup Co, CPB, (.29), Eaton Corp, ETN, (.38) |
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Major US Stock Movers After Hours Nuvasive fell over 23% after hours as it announces a lower Q3 profit than the expectations Avery Dennison fell 4% as it detailed it has now terminated talks to sell some of its operations with 3M after antitrust concerns Applied Materials announces it is cutting up to 9% of its staff worldwide |
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US Market News The early polls suggest Romney was the gainer from yesterday televised political debates Nasdaq confirms that it has been forced to cancel a number of trades after a ‘trading glitch’ caused the share price in Kraft Foods to gain 30% yesterday at one stage yesterday Berry Plastics is seen pricing its IPO at the lower end of the marketed range HP is in the news for the wrong reasons as its share price falls to a fresh nine year lows as Meg Whitman gave a disappointing view on its medium term outlook Elliot Capital the hedge fund has seized an Argentinean listed vessel in Ghana as part of its efforts to sue Argentina for the recovery of losses from its default in 2001 Some gasoline stations in Los Angeles have started to close pumps due to supply shortages which have pushed wholesale fuel prices to record highs |
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Overnight Market News The FT writes that Singapore is seen putting increasing pressure on Standard Chartered to place more independent directors to its board Australian retail sales fell by more than expected in August after weaker demand in household goods more than offset gains made in department stores |
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Major Global IPOs Due Today Dave & Buster’s Entertainment Inc, (PLAY), 7.6923m, USD 12 – 14 Dundee Industrial Real Estate Investment Trust, (0590454D), 15.5m, CAD 10 Fleetmatics Group Ltd, (FLTX), 7.8125m, USD 15 – 17 |
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FX Summary The collapse in the rial has created fresh rioting in Tehran it has now fallen around 66% against the dollar in the past year The yen has softened a touch as the safe haven status appears less attractive as traders continue to price in a co-ordinated move by central banks to stimulate the economy |
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Commodity Summary National Australia Bank states that gold prices are likely to remain high in the near term as the climate of uncertainty will keep demand high Bloomberg suggests that the four year falls in coal prices may be close to an end as coal producers have been seen cutting output, ahead of the key buying period in the Northern hemisphere Crude in New York has traded down to $90/barrel today |
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Economic Data Due 12:00 UK Bank of England Rate Announcement, 0.5% Unchanged exp. 12:45 ECB Rate Announcement, 0.75% Unchanged exp. 13:30 US Weekly Initial Jobless Claims, 365k exp. 359k exp. 15:00 US August Factory Orders, -0.2.5% exp. 2.8% previous 19:00 US Fed Meeting Minutes |
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Economic Events Merkel Speaks in Berlin IMF Holds News Briefing
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