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Traders Thread - Thursday 24th April (ALLD)     

Crocodile - 24 Apr 2003 01:09

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Gold

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fpDJIA.gqplus?511 marketwatch-ss.img?symb=SP500 fpNASDAQ.gqplus?183

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S&P &Futures (Click for latest)

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 Pre Market Futures (7:30)
FTSE + 2
TechMark + 1
DAX + 4

Hang Seng -96

Chart

Nikkei+48

Chart

 DOW - 46
S&P - 7
Nasdaq - 4.3
News Headlines:   

Better  than expected earnings helped the US  indexes all finish in the blue yet again. Siemens like many other companies at the moment reported positive news with business says they were ontrack for 2003 earnings targets after posting a drop in second quarter profits and sales. The FTSE is expected to open flat but should soon slip into negative territory with weak US futures following the "Beige Book" report showing a flaky US economy with a drip in retail sales during the Iraq war.

Persimmon says they build only a very small proportion of its homes within the M25. In the North we are seeing increased demand with further price growth. The forward sales will ensure that our first half expectations are met and have 170 million of sales value already contracted or reserved for the second half of the current year.

Allied Domecq:  Beats profits forecasts, they reported a two percent rise in half-year profits and said it was on track to meet current market expectations. They reported pre-tax profits of 256 million pounds for the six-month compared to forecasts of 240-254 million pounds.

BP, SHEL OPEC prepared on Wednesday to cut back excess oil supply and shore up falling prices ahead of the return of Iraqi exports to the world market.

Peacock may have to guide forecasts higher after a period of "stellar" sales growth

 

Calendar

All GMT

 ukf.gifUnited Kingdom (F)inals (I)nterim usf.gifUnited States (Click Flag) euro.gifEurope & World

Thu 24th April

Allied Domecq (I) DFS Furniture Company (I)

Aviva, Egg  trading update.

Colt Q!.  Abbey National , Barclays , BP are due to hold annual shareholder meetings.

March prov M4/M4 lending (0930 ) March CML mortgage (0930 ) March BBA & BSA lending figures (0930) BCC quarterly economic survey (1100)

Amazon, MGM, Nortel

13.30 March durable goods orders 13.30 March durable goods orders ex transport 13.30 Initial jobless claims w/e 19/4  

08.00 Italy Feb retail sales 08.30 Italy Apr business sentiment 13.30 ECB meeting concludes
Good Trading!   David@FTSEDOW.com    www.FTSEDOW.com

Bloomberg TV          

Pivot Calulator
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Insider trader - 24 Apr 2003 09:04 - 3 of 3

Morning Croc. This table indicates how broker recommendations for key FTSE 100 companies have changed in the last 24 hours. It details how great the rating change has been and reasons for this change. The consensus recommendation gives a numerical rating where 1=Buy, 2=Outperform, 3=Hold, 4=Underperform and 5=Sell.
 22nd Apr23rd AprChangeConsensus RatingBroker Change
Allied Domecq2.612.83arrowdown.gif-8.4%HoldAhead of tomorrow's interim results HSBC reiterates "reduce" rating as it believes the risks are on the downside, while DKW says "buy" but continues to prefer rival, Pernod Ricard
AstraZeneca2.432.44arrowdown.gif-0.4%OutperformRating moves slightly ahead of Q1 figures out next week and on positive Q1 figures from US peer Eli Lilly
BHP Billiton2.452.5arrowdown.gif-2.0%OutperformQ3 trading report reveals a weak performance in oil and gas and a stronger than expected performance from mining assets, prompting a "reduce" rating from Investec
Friends Provident2.732.81arrowdown.gif-2.9%HoldLehman initiates coverage with an "underweight" rating, as it believes that, without a recovery in equity markets, FP will find it tough to compete in the UK market
GlaxoSmithKline2.92.92arrowdown.gif-0.7%HoldRating slips as BSCH and CDC Ixis reduce full year forecasts ahead of next week's Q1 results
Legal & General2.572.63arrowdown.gif-2.3%HoldLehman initiates coverage with "underweight" rating, as the broker fears LGEN will use its capital strength to support an unsustainable dividend payment
Reuters3.63.60.0%UnderperformShares lift as the UK market, European media sector and the investment banking community rise. However in spite of being one of the main risers on the FTSE today its rating sticks
Sage2.973arrowdown.gif-1.0%HoldUBS downgrades to "neutral" as the broker highlights the negative underlying license momentum and the unimpressive organic growth rate of 2-3%
Scottish & Newcastle2.963arrowdown.gif-1.4%BuySmith Barney points out that fears of a dividend cut will continue to hang on the shares until the cut is announced or until substantial cash flow improvements are seen
WPP3.043.040.0%HoldWilliams says "hold" ahead of WPP's Q1 revenue figures on Friday. The broker expects revenue to be slightly down but the outlook to be brighter as improvements are seen in advertising market, but it adds the group will remain vulnerable to company specific problems
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