What to Watch in The Day Ahead; Friday, June 13

Thu Jun 12, 2014 2:40pm EDT

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(The Day Ahead is an email and PDF publication that includes the day's major stories and events, analyses and other features. To receive The Day Ahead, Eikon users can register at . Thomson One users can register at RT/DAY/US. All times in ET/GMT) U.S. producer prices likely edged up just 0.1 percent last month, both overall and excluding food and energy. That would suggest inflation pressures remain in check, even though the year-on-year readings are seen accelerating. Excluding food and energy, the index is seen edging up 0.1 percent after rising 0.5 percent in April. (0830/1230) Oil and natural gas company Memorial Resource Development is expected to raise about $648 million by offering 36 million shares at $16-$18 per share. At the top end of the expected price range, Memorial Resource would be valued at about $3.5 billion. Spanish renewable energy and engineering firm Abengoa's U.S. subsidiary, Abengoa Yield, is expected to raise as much as $624 million by offering 23.1 million shares at $25-$27 per share. At the top end of the expected price range, Abengoa Yield would be valued at about $2.2 billion. Chinese jobs website operator Zhaopin is expected to offer about 5.61 million American Depositary Shares in an initial public offering with each ADS priced at $13.50. About 79 percent of Zhaopin shares is held by SEEK International Investments Pty Ltd, controlled by SEEK Ltd, which provides online employment advertising, training courses and invests in online employment marketplaces. Statistics Canada's report on April factory sales is expected to show a 0.4 percent increase from March. The data should help shed light on the non-energy export sector, which is still struggling despite strengthening demand from the United States. (0830/1230) Brazil's central bank is expected to release the IBC-Br index of economic activity, a monthly proxy for gross domestic product data. (0730/1130) Meanwhile Peru's central bank is expected to decide whether to hold the interest rate steady at 4 percent for the seventh month in a row. On May 5, the president of the central bank said monetary policy would likely be left unchanged in the months ahead. (1900/2300) Separately, Argentina is due to release May consumer inflation data. Private estimates tend to come in two to three times higher than the widely discredited official data. (1500/1900) (Compiled by Sourav Bose in Bangalore)

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