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For more research & Technical Analysis from Cantor Index click here to register. UK Corporate Announcements Rank reports a full year revenues of £572m from £556m and an operating profit of £65.5m from £62.9m Pennon announces that its performance has been in line with its expectations Innovation Group states that trading has continued positively Melrose announces a recommended offer to merge with Petroceltic, valued at C165m where it will hold 46% of the new company, conditional on market approval AEA Technology announces that trading has been in line |
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UK Market News Lonmin stays in the news as local gangs operating under the two rival unions continue to clash with police, with the events now gaining widespread international coverage as reports suggest up to 30 people may have now died Wal-Mart’s ASDA has criticised some of its local competitors for the use of vouchers to boost sales The Telegraph suggests that Travelodge today will announce plans to cut 10% of its hotels as part of a deal to write off around £700m of debt The UK is due to sell £3bn in bills at 11:10 |
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UK Analyst Upgrades Elementis Rated New Buy, Pt 260P At Berenberg Laird Raised To Buy Vs Neutral At Ubs National Grid Pt Raised To Gbp595 Vs Gbp575 At Berenberg Reckitt Benckiser Pt Raised To 4,100P Vs 3,900P At Nomura |
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UK Analyst Cuts Afren Cut To Neutral Vs Buy At Goldman Borders & Southern Cut To Neutral Vs Buy At Goldman Enrc Pt Cut To 400P Vs 500P At Nomura, Stays Reduce Enrc Pt Cut To 400P Vs 500P At Nomura, Stays Reduce Firstgroup Cut To Sell Vs Hold At Deutsche Bank Genel Cut To Neutral Vs Buy At Goldman Jkx Oil & Gas Cut To Neutral Vs Buy At Goldman Kazakhmys Pt Cut To 925P Vs 1,050P At Nomura, Stays Neutral Max Petroleum Cut To Neutral Vs Buy At Goldman Petra Diamonds Cut To Neutral Vs Buy At Goldman Premier Oil Cut To Equalweight Vs Overweight At Morgan Stanley Travis Perkins Cut To Neutral Vs Outperform At Credit Suisse |
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UK Insider Buying Ladbrokes Plc, (LAD), 1 insider(s) bought 5,900 shares, £1.68 Speedy Hire Plc, (SDY), 1 insider(s) bought 498 shares, £0.26 Sig Plc, (SHI), 1 insider(s) bought 130 shares, £0.96 |
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UK Insider Selling Marks & Spencer Group, (MKS), 1 insider(s) sold 244,867 shares, £3.58 |
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Major European Companies Reporting Swiss Life Holding AG, S1, 0, Ratos AB, Q2, 0, Valiant Holding, S1, 0, PSP Swiss Property AG, S1, 0 |
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European Market Summary Heineken is reportedly in talks with Fraser & Neave over a higher offer for Asia Pacific Breweries Merkel has stated that she backs Draghi’s on conditions for ECB help, while Swedish banks are in the news after the government states that its rules are out of date and too lax, allowing banks to hide mortgage assets risks While Finland’s Finance Minister states that the country is preparing for a Greek exit of the euro |
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S&P 500 Companies Reporting JM Smucker Co/The, Q1, 0.994, Salesforce.com Inc, Q2, 0.388 S&P 500 Ex Dividends (gross):- AmerisourceBergen Corp, ABC, (.13) |
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Major US Stock Movers After Hours Marvell Technology the chip maker fell 8% after hours as it announced Q3 numbers under the forecasts on slowing PC demand, and as key customers such as research in Motion continue to lose market share Aeropostale fell 7% after hours as it announces Q2 earnings and guides lower on Q3 stating that back to school sales had been weak |
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US Market News The S&P 500 yesterday moved up to its highest levels since April and continues its apparent march to fresh highs for the year, which would also be highs for the past five years, while an S&P index on homebuilders has already moved to highs not seen since 2008 Facebook shares are in the news as they hit a fresh low following its IPO, on nervousness surrounding a key lockup period for insiders expires The UN peacekeeping chief has ended its monitoring mission in Damascus stating that the government and the rebels had chosen the path of war |
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Overnight Market News The China Banking Regulatory Commission has reportedly told lenders that they should demand additional collateral or instruct developers to sell stakes if the banks feel they will have difficultly repaying loans, and that they should push developers to make faster home sales |
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FX Summary The Chilean central bank left its key interest rate unchanged at 5%, while Moody’s lifts its outlook on Peru to Baa2 up one notch with a positive outlook The aussie has come off a little after the Treasury states that it is overvalued increasing expectations of possible monetary easing ahead |
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Commodity Summary Cotton prices have come off 67% from the highs in March 2011, and the lower prices are seen denting crops in Australia as farmers are less inclined to plant and harvest the crops, Australia this year is expected to be the world’s second largest exporter While the FT details how Argentinean wheat farmers have planted their smallest crop based on lad area for over 100 years, over concerns on the dry conditions The US is reportedly studying the option of releasing its strategic oil reserves |
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Economic Data Due 09:00 Eurozone June ECB Eurozone Current Account, -€2.5bn previous 14:55 US August Uni. of Michigan Confidence, 72.2 exp. 72.3 previous 15:00 US July Leading Indicators 0.2% exp. -0.3% previous For more research & Technical Analysis from Cantor Index click here to register. |