Cyrrus (Cyrrus)
Markets  |  August 29, 2012 10:13:55

Joint Stock breakfast 29.08 - Election surveys in Germany, results, macro


Overview of the main events for Wednesday, the 29th August 2012

USA  

Without direction, low volumes  

ASIA  

Mixed Trading  

EUROPE 

Electoral research in Germany  

SUPERSPAD  

Fortuna 1H, Nike, Molycorp

COMMODITIES

Stocks to API

Upcoming Events

14:30 U.S. Q2 GDP
14:30 U.S. Personal Consumption
16:00 U.S. home sales under negotiation
16:30 Oil stocks according to API
20:00 Fed's Beige Book

11:00 Italian auction 9 billion 181d vouchers

USA

  • ongoing correction
  • expectations Bernanke's speech in Jackson Hole (tomorrow)
  • volumes are still below average (26% below the three-month average)

ASIA

  • Asian markets today, as the U.S. yesterday, lacked a clear direction and ranged from moderate gains (Japan) to moderate losses (China).

EUROPE

The political balance of power in Germany:

  • Support for Merkel's CDU is at four-year highs
  • Increased by 3 percentage points to 39%
  • Opposition SDP lost 1 percentage point to 26%, Greens 12%, 7%, and Pirates FDP coalition to 5%
  • Next year's parliamentary elections in Germany

X Merkel meeting Monti

  • From 14:15 in Berlin

SUPERSPAD

Fortuna 1H:

  • The increase staked through organizing EURO 2012 and lottery
  • Stronger GW mainly work good first quarter, the second quarter reduced margins due to high GW wins on Euro and provide various bonuses to entice new players
  • EBITDA dropped due to a new tax in the Czech Republic and the greater the loss of lottery
  • Then I estimated at 2.5 billion, eventually it was 3.261 billion
  • Net profit is very weak, if in 2H should be so low dividend will be EUR only from .15 to .19 (vs. € 0.23 this year), ie the dividend yield only 4-5,2%
  • All major indicators slightly below consensus

(EUR million)

1H 2012

1H2012e CYRRUS

Market consensus

1H 2011

y / y

Staked

229072

226300

225210

209022

9.6%

Gross Win

55131

55929

55930

47857

15.2%

Revenues

48041

50554

48810

41895

14.7%

EBITDA

10139

10612

11690

11890

-14.7%

Operating profit

8,403

8,892

9,910

10396

-19.2%

Net profit

5,619

6,913

7,750

8,629

-34.9%

Nike:

  • According to analyst firm Stifel Financial Corp. rose Nike's market share during school clothes shopping
  • Did a survey in 100 stores, 83 of them confirmed that most products sold Nike (last year it was 74)
  • At the same time confirm the price target to 104 USD
  • Shares respond 2.5% increase

Molycorp:

  • +13% After it announced that it began to extract and separate the precious metals from its Mountain Pass project in California
  • According to the head of mining companies plan to concentrate this year 200 the next year, twice
  • In addition, the CEO commented, market development, said that after a long period of decline in the prices of precious metals saw some signs of stabilization, although it is too early yet according to him talk about the change of the trend
  • At these prices, however, sees "solid" demand for certain metals

COMMODITIES

Oil reserves by API:

  • Grow by 5.5 million barrels
  • Brent crude oil prices currently on the value of $ 112.30 / barrel, WTI crude oil price on the value of $ 95.87 / barrel
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Akciová snídaně 29.8. - volební průzkumy v Německu, výsledky, makro

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