Vodafone Share News (VOD)

City sources predict the FTSE 100 will open 28 points up from yesterday's close of 5,779 as markets give a generally positive response to Spain's austerity budget.Spain has pushed through €40bn of new austerity measures, despite violent protests across the country. Premier Mariano Rajoy has put a hold on public pay in 2013 for the third year in a row. The agriculture ministry and culture expenses will see a 30% reduction in budget, and the defence budget will be chopped by 15%. The new cuts are on top of a €62bn squeeze already in the pipeline. Even so, the centre of attention today will be the release of the results of the Spanish bank stress tests, this afternoon, towards 15:00. As well, ratings agency Moody's is expected to conclude its review for a possible further downgrade of Spain. We recall that Moody's downgraded Spain's government bond rating from A3 to Baa3 on 13 June. consumer price data for September is slated for release at 10:00.Investors are also facing a barrage of 'first-tier' economic data expected out Stateside. More important, and back in the UK, the GfK´s latest reading for its gauge of consumer confidence increased by one point in September to -28 (consensus: -28). ONS will publish its index of services data at 09:30.Pubs owner Mitchells and Butlers said like-for-like (LFL) sales increased 3% in the nine weeks to September 15th as the Olympic and Paralympic Games had little impact on overall sales. Total LFL sales for the 51 weeks to September rose 2.1% with food sales up 2.9% and drink sales up 1.4%.Multi-national design and engineering consultancy Hyder said it now expects first half pre-tax profit to be well ahead of previous forecasts, buoyed by the timing of performance bonuses earned in Australia. Intermediate Capital Group, the specialist investment firm and asset manager, saw assets under management rise to €12bn as at September 27th from €11.8bn as at July 9th. The group added that its investment company portfolio was "resilient with low level of realisations".Vodafone has seen its price target slashed at Goldman Sachs, to 227p from 233p. Analysts at HSBC have upgraded their view on shares of Tesco to overweight. JH