UK markets expected to rebound today.

UK markets are expected to rebound today with the MPC last night attempting to end speculation of a rates hike reaffirming its intent to hold rates until unemployment reaches 7%.  European market sentiment could also provide a boost after German Chancellor Angela Merkel announced her policy on Europe would not change after being elected to her third term.

New members to the FTSE 100 are hoping to bounce back after disappointing debuts from Coca Cola HBC and Sports Direct.   A possible spanner in the works today could be Ed Miliband’s announcement of plans to raise corporation tax should Labour win the 2015 election; benefits to small businesses are the main selling point.

Uncertainty about Fed policy is causing volatility in the markets after senior member William Dudley played down the prospect of tapering claiming the US economy is still not capable of being self-sustaining.  This uncertainty caused Copper to drop 0.7% and pushed the Nikkei down 0.1%, expect further volatility later today when Fed member George speaks.

Risers:

Euromoney Institutional Investor, up 6.5%

The international online information and events group have announced they expect adjusted profit before tax for the year to be not less than £114 million, up from £107 million a year earlier. The pre-close trading update shows that advertising revenues returned to growth for the first time in two years.

Close Brothers, up 2.7%

The financial services group posts a rise in full year pre-tax operating profit and raising its full year dividend by 7%. They said they remain well positioned for the current financial year after the restructuring drive is now paying off.

Dunedin Enterprise Investment, up 3%

DNE plans to return £5.5 million pounds to shareholders via a tender offer for up to 1.16 million ordinary shares at 475p via Cantor Fitzgerald. Shares react higher as they turn to shareholders for approval for the tender offer.

Ferrum Crescent, up 42%

The iron ore developer has signed a $13.5 million investment agreement with Anwar Asian Investment to facilitate the completion of the company’s bankable feasibility study at the Moonlight Iron Ore project in Northern South Africa. The main transaction will be completed in tranches with the first US$1m being paid before the end of November and the remaining in the first quarter of 2014.

Pure Water, up 27%

The silicon wafer reclaim services company expects its pre-tax profit for the year ended June 30^th to be significantly ahead of current market expectations. The company has continued to experience high levels of demand for its wafer recycling services.

Fallers:

Shire, down 2.8%

Shares in Shire continue to slump for a second day, leading the FTSE 100 decliners after US prescription data showed slowing sales of its flagship ADHD drug Vyvanse. Deutsche Bank have announced the decline in sales would mean the Vyvanse brand would unlikely meet full-year sales expectations.

Amec, down 1.6%

Amec was today downgraded to neutral with the price target lowed to 1145p from 1200p at UBS. UBS state "While we like the asset-light business model, we worry about the underlying slowdown in activity in Amec's end markets,", They announced underlying earnings momentum, excluding the effect of acquisitions, is likely to turn negative in the near term triggering the downgrade.

Premier Foods, down 2%

Shares in Premier Foods sink after they announced the departure of chief financial officer Mark Moran, sending its shares down 8 percent on the open as uncertainty about the company’s efforts to improve its performance surfaced. Moran joined the group in 2011 to help steer it through the first phases of a turnaround, including a major refinancing in early 2012.

Augean, down 11%

The provider of specialist waste management service posted a 66.9% rise in pre-tax profit during the half year-end but announced an underperforming Waste Network division is expected to adversely impact full year forecast. Augean has revealed plans to sell its underperforming waste network division but said its interim results reflected “sustained progress” in key sectors.

DDD Group, down 16%

The 3D solutions company said it has adjusting down its forecasts for 2013 due to greater than expected decline in PC market shipments and the timing of the introduction of the next generation 3D tablets. They announced a swing to a loss in the first half despite signing a number of major deals