Barclays (GBp 223 ; -6.93% ; BARC ; BARC.L)
On Tuesday, Barclays is expected to deliver 1H pre-tax profit of around £2.7B, compared to £2.1B a year earlier. Recently, the bank may consider setting up £500M UK infrastructure fund, according to Times' report. Earlier, the bank's price target was cut to 320p from 350p at Exane BNP Paribas (the "outperform rating unchanged). From a technical view, the stock is still capped by a declining 50-day moving average. Even though a ST technical rebound cannot be ruled out, its extent should be limited below 250p.
Porsche Pref (EUR 53.68 ; -6.32% ; PAH3 ; PSHG_p.DE)
On Wednesday, Porsche Automobil Holding may announce its 1H11 results. The same period last year, the Co posted net income of E957M. Earlier, the European car manufacturer said June sales up nearly 30% YoY to 10,677 vehicles. From a chartist view, the share price is pulling back to its support area around E50, which should be tested in the coming days before any further upsides to E60 and E65.
Rio Tinto (GBp 4300 ; -2.75% ; RIO ; RIO.L)
On Thursday, Rio Tinto, the international mining giant, could post 1H net profit of around $8.7B compared with $5.8B a year ago. Earlier, the Co reported 2Q global iron ore production up 12% YoY to 49M tons attributable (62M tons on a 100% basis) and forecast FY iron ore production to be over 240M tons (on a 100% basis). Technically, the stock remains within the MT trading range between 4000p and 4600p, and may re-test the upper boundary at first after a ST pause.
Kraft Foods (USD 34.38 ; -2.96% ; KFT ; KFT.N)
On the same day in the US, Kraft Foods, a food and beverage company, is expected to unveil 2Q EPS of appx. $0.58 compared to $0.6 last year on sales of $13.1B vs $12.2B. Recently, the Co announced Michael A. Clarke, Executive Vice President and President, Kraft Foods Europe, will leave the company in mid-August, and will be replaced by Timothy P. Cofer. Graphically, the stock price has just broken below a MT rising support, and is now under pressure below $35. Hence, a new pullback seems more likely towards $33.
Procter & Gamble (USD 61.49 ; -4.3% ; PG ; PG.N)
On Friday, Procter & Gamble, the worldwide consumer products manufacturer, may report 4Q EPS of $0.82 compared with $0.71 a year ago on sales of $20.6B vs $18.9B. Earlier, the Co was downgraded to "hold" from "buy" at Jefferies. From a technical point of view, the stock price extended its loss last week and also broke below its previous support at $62.5. Nevertheless, the technical indicators are deeply "oversold", calling for a limited technical rebound towards $63.
Selection of those events which may affect the stock prices of international Large Caps