Day Ahead

Cantor Opening Call The FTSE is seen opening around unchanged today

UK Corporate Announcements Standard Chartered states it has shown a strong performance in Q3, but stays cautious on the macro economic outlook BP announces a Q3 pre-tax profit of $5.43bn up from $5.04bn and lifts its quarterly dividend by 12.5% to 9cents Imperial Tobacco reports a full year adjusted operating profit of £3.16bn against forecasts of around £3.2bn seen, on full year revenues of £28.6bn Stagecoach announces that its profitability has been good and its maintains its profit targets Wolfson Electronics announces Q3 revenues of $53m from $40.4m and states that strong revenue momentum continues into Q4, but sees persistent macro-economic headwinds Lonmin falls in South African trading as it sees debt rising significantly in coming months and that it could breach covenants under the existing facility terms, as the Platinum resource group continues its under-performance to the wider sector Regus announces that Q3 has been in line TT Electronics announces that it has seen a softening of order intakes, and now warns that it is lowering its full year outlook

UK Market News The Independent details how UK shoppers took an extra £1.2bn in personal loans and credit card debt in September, mortgage lending increased and loans for house purchases gained over 50,000 for the first time since May Bloomberg suggests that with its results due tomorrow Barclays is expected to announced Q3 pre-tax profit of £1.67bn up around 25% In the UK papers Informa and Abbot Group are the centre of separate M&A talk The German finance minister feels the need to state that Britain was sorely needed in the EU Premier Foods announces that it has sold its Pickles unit to Mizkan for £92.5m The UK sells £1.5bn in 2015 bonds at 10:30

UK Analyst Upgrades Marks & Spencer Raised To Buy From Hold At Socgen Direct Line Rated New Outperform At Credit Suisse; Pt 225P Rightmove Rated New Buy At Citi, Pt 2,050P

UK Analyst Cuts Marks & Spencer Cut To Underweight From Equalweight At Barclays

UK Insider Buying Astrazeneca Plc, (AZN), 1 insider(s) bought 275 shares, £28.76 Pathfinder Minerals Plc, (PFP), 1 insider(s) bought 1,000,000 shares, £0.02 UBM Plc, (UBM), 1 insider(s) bought 200,000 shares, £6.75

UK Insider Selling Amiad Water Systems Ltd, (AFS), 1 insider(s) sold 20,000 shares, £3.04

Major European Companies Reporting Bayer AG, Q3, 1.143,  Bolsas y Mercados Espanoles SA, Q3, 0.378,  BP PLC, Q3, 0.217,  Danske Bank A/S, Q3, 1.504,  Deutsche Bank AG, Q3, 0.819,  Eni SpA, Q3, 0.432,  Erste Group Bank AG, Q3, 0.412,  Ferrovial SA, Q3, 0.19,  Fiat SpA, Q3, 0.13,  Geberit AG, Q3, 3.23,  Hugo Boss AG, Q3, 1.784,  Imperial Tobacco Group PLC, R, 1.993,  MAN SE, Q3, 1.014,  Metro AG, Q3, 0.523,  Nokian Renkaat OYJ, Q3, 0.548,  Software AG, Q3, 0.442,  Swedish Match AB, Q3, 3.766,  UBS AG, Q3, 0.294,  YIT OYJ, Q3, 0.309

European Market Summary Telefonica announces the IPO price of its German unit at €5.6, placed with institutional investors UBS detailed that it is looking to cut 10,000 jobs, and retreat from the capital intensive trading business Deutsche Bank is expected to announce Q3 pre-tax profit of around €1.06bn up 13% Italy is due to sell up to €7bn in Bonds at 11:00

Major US Stock Movers After Hours None Detailed

S&P 500 Companies Reporting Allergan Inc/United States, Q3, 1.037,  Archer-Daniels-Midland Co, Q1, 0.473,  Automatic Data Processing Inc, Q1, 0.625,  Avon Products Inc, Q3, 0.226,  Cardinal Health Inc, Q1, 0.794,  CBRE Group Inc, Q3, 0.33,  Cummins Inc, Q3, 1.834,  DaVita Inc, Q3, 1.552,  Ecolab Inc, Q3, 0.869,  Electronic Arts Inc, Q2, 0.103,  Entergy Corp, Q3, 2.003,  Fiserv Inc, Q3, 1.274,  Ford Motor Co, Q3, 0.301,  Genworth Financial Inc, Q3, 0.192,  HCP Inc, Q3, 0.692,  JDS Uniphase Corp, Q1, 0.12,  Johnson Controls Inc, Q4, 0.753,  Kimco Realty Corp, Q3, 0.308,  L-3 Communications Holdings Inc, Q3, 1.853,  MetroPCS Communications Inc, Q3, 0.264,  NiSource Inc, Q3, 0.052,  ONEOK Inc, Q3, 0.323,  Pentair Ltd, Q3, 0.629,  Pfizer Inc, Q3, 0.525,  Pitney Bowes Inc, Q3, 0.478,  QEP Resources Inc, Q3, 0.351,  Seagate Technology PLC, Q1, 1.665,  TripAdvisor Inc, Q3, 0.419,  United States Steel Corp, Q3, -0.002,  Valero Energy Corp, Q3, 1.787,  Waste Management Inc, Q3, 0.599,  Western Union Co/The, Q3, 0.449,  Williams Cos Inc/The, Q3, 0.266

US Market News Hurricane Sandy remains the dominant story today as the US markets were mostly closed yesterday and the storm system disrupts travel in the region and also impacts on the final last few days of Presidential campaigning NYSE Euronext confirms that it US markets will remain closed for today, with US equity trading now closed for two days in a row, the first time for more than a century The Carlyle Group announces a £1bn planned development on the London South Bank for a new 48 storey skyscraper and 500 luxury apartments Apple announces a couple of senior executive changes, with the departure of mobile head of software amongst those leaving, with analysts citing the recent bad press over its iPhone mapping service Baidu announces that the macro situation is not as healthy as last year and states that its transition to mobile search was well under way and announces a Q3 revenues just under the forecasts and also guided lower for Q4

Overnight Market News The Reserve Bank of India has cut its full year growth forecasts to 5.8%, and sees inflation of 7.5% and maintains its benchmark interest rate at 7.5%, but cuts the lenders reserve requirements, adding around 175bn rupees into the system The Bank of Japan has also left its rate unchanged and increases its asset purchase fund to 66tn yen, in line with the expectations Hitachi has agreed to buy the UK Horizon nuclear project from the previous German owners for £700m, ahead of interest from Westinghouse, while France’s top regulator states that the safety failings seen in the nuclear industry in Japan ahead of the Fukushima disaster are being played out in other countries Shanghai Securities News suggests that regulators are looking at easing limitations on foreign investment in Chinese commodity futures firms Sharp continues its volatile trading, up 8% yesterday on vague talk that it is looking to form a partnership deal with Apple, Google or Microsoft

Major Global IPOs Due Today Shanghai Fosun Pharmaceutical Group Co Ltd, (2196), 336.07m, HKD 11.8 Southcross Energy Partners LP, (SXE), 9m, USD 19 - 21 Telefonica Deutschland Holding AG, (O2D), 225m, EUR 5.25 - 6.5 Zespol Elektrowni Patnow Adamow Konin SA, (3555945Z), 26.013m, PLN 26.2

FX Summary The Canadian dollar has dropped back under parity as the risk appetite continues to dampen in the near term

Commodity Summary Oil prices have stayed relatively muted despite refineries in the US east coast shutting down production, as the storm system while bad so far appears to be causing less damage to infrastructure than the very worst of forecasts

Economic Data Due 10:00 Eurozone October Consumer Confidence, -25.6 exp. -25.6 previous 11:00 UK October CBI Reported Sales, 8 exp. 6 previous 14:00 US October Consumer Confidence, 73.0 exp. 70.3 previous

Contact Us For Sales/Traders:- 0044 (0) 207 894 8883

Footnotes All times given are BST Cantor Call, as at 07:15 S&P Companies Reporting, (BMO) - Before Market Open, (AMC) - After Market Close Analyst Changes, as at 06:45 Insider Deals data compiled from Director/PDMR Shareholding forms published in the past 24 hours (ex weekends). Major European Companies defined as those companies in the STOXX Europe 600 Index FTSE 100 Movers, Blue >0.25%, Green <0.25%, Red <-0.25%, Font size dependent on percentage size of move

Disclaimer This report is issued by Cantor Fitzgerald Europe, which is authorised and regulated by the Financial Services Authority.  This report is prepared and distributed for information purposes only.  This report may contain information obtained by Cantor Fitzgerald Europe from third parties; the source of information will usually be disclosed.  Cantor Fitzgerald Europe makes no representation and gives no warranty as to the accuracy or completeness of the contents of this report.  Any person placing reliance upon this report does so at his own risk.  Cantor Fitzgerald Europe, its officers, employees, affiliates and shareholders shall not be liable to any person in any way whatsoever for any losses, costs or claims howsoever arising from any inaccuracies or omissions in this report or any reliance on this report. This report should not be considered to be a solicitation nor the offer of advice for the purposes of the sale or purchase of any security, investment or derivative.  The information contained in this report is not intended to form the basis of any investment decision and should not be considered a recommendation by Cantor Fitzgerald Europe or any other person in relation to any of the companies, stock, commodities, currencies or other markets referred to in this report. The information contained in this report has not been verified by Cantor Fitzgerald Europe and Cantor Fitzgerald Europe undertakes no obligation to provide recipients of this report with any additional information or any update to or correction of the information contained in this report. Cantor Fitzgerald Europe is authorised and regulated by the Financial Services Authority (“FSA”) under firm reference number 149380.

Risk Warning Trading CFDs carries a high level of risk to your capital and is not suitable for all customers. Furthermore, margined products use leverage to increase the level of exposure to the product, and as a result your losses may substantially exceed your initial deposit and require you to make additional deposits at short notice. Prior to trading leveraged CFDs, you should carefully consider your investment objectives, experience and risk appetite and should not invest money that you cannot afford to lose. You should ensure you fully understand the risks and seek independent financial advice if in doubt.

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Day Ahead

Cantor Opening Call The FTSE is seen opening around unchanged today

UK Corporate Announcements Standard Chartered states it has shown a strong performance in Q3, but stays cautious on the macro economic outlook BP announces a Q3 pre-tax profit of $5.43bn up from $5.04bn and lifts its quarterly dividend by 12.5% to 9cents Imperial Tobacco reports a full year adjusted operating profit of £3.16bn against forecasts of around £3.2bn seen, on full year revenues of £28.6bn Stagecoach announces that its profitability has been good and its maintains its profit targets Wolfson Electronics announces Q3 revenues of $53m from $40.4m and states that strong revenue momentum continues into Q4, but sees persistent macro-economic headwinds Lonmin falls in South African trading as it sees debt rising significantly in coming months and that it could breach covenants under the existing facility terms, as the Platinum resource group continues its under-performance to the wider sector Regus announces that Q3 has been in line TT Electronics announces that it has seen a softening of order intakes, and now warns that it is lowering its full year outlook

UK Market News The Independent details how UK shoppers took an extra £1.2bn in personal loans and credit card debt in September, mortgage lending increased and loans for house purchases gained over 50,000 for the first time since May Bloomberg suggests that with its results due tomorrow Barclays is expected to announced Q3 pre-tax profit of £1.67bn up around 25% In the UK papers Informa and Abbot Group are the centre of separate M&A talk The German finance minister feels the need to state that Britain was sorely needed in the EU Premier Foods announces that it has sold its Pickles unit to Mizkan for £92.5m The UK sells £1.5bn in 2015 bonds at 10:30

UK Analyst Upgrades Marks & Spencer Raised To Buy From Hold At Socgen Direct Line Rated New Outperform At Credit Suisse; Pt 225P Rightmove Rated New Buy At Citi, Pt 2,050P

UK Analyst Cuts Marks & Spencer Cut To Underweight From Equalweight At Barclays

UK Insider Buying Astrazeneca Plc, (AZN), 1 insider(s) bought 275 shares, £28.76 Pathfinder Minerals Plc, (PFP), 1 insider(s) bought 1,000,000 shares, £0.02 UBM Plc, (UBM), 1 insider(s) bought 200,000 shares, £6.75

UK Insider Selling Amiad Water Systems Ltd, (AFS), 1 insider(s) sold 20,000 shares, £3.04

Major European Companies Reporting Bayer AG, Q3, 1.143,  Bolsas y Mercados Espanoles SA, Q3, 0.378,  BP PLC, Q3, 0.217,  Danske Bank A/S, Q3, 1.504,  Deutsche Bank AG, Q3, 0.819,  Eni SpA, Q3, 0.432,  Erste Group Bank AG, Q3, 0.412,  Ferrovial SA, Q3, 0.19,  Fiat SpA, Q3, 0.13,  Geberit AG, Q3, 3.23,  Hugo Boss AG, Q3, 1.784,  Imperial Tobacco Group PLC, R, 1.993,  MAN SE, Q3, 1.014,  Metro AG, Q3, 0.523,  Nokian Renkaat OYJ, Q3, 0.548,  Software AG, Q3, 0.442,  Swedish Match AB, Q3, 3.766,  UBS AG, Q3, 0.294,  YIT OYJ, Q3, 0.309

European Market Summary Telefonica announces the IPO price of its German unit at €5.6, placed with institutional investors UBS detailed that it is looking to cut 10,000 jobs, and retreat from the capital intensive trading business Deutsche Bank is expected to announce Q3 pre-tax profit of around €1.06bn up 13% Italy is due to sell up to €7bn in Bonds at 11:00

Major US Stock Movers After Hours None Detailed

S&P 500 Companies Reporting Allergan Inc/United States, Q3, 1.037,  Archer-Daniels-Midland Co, Q1, 0.473,  Automatic Data Processing Inc, Q1, 0.625,  Avon Products Inc, Q3, 0.226,  Cardinal Health Inc, Q1, 0.794,  CBRE Group Inc, Q3, 0.33,  Cummins Inc, Q3, 1.834,  DaVita Inc, Q3, 1.552,  Ecolab Inc, Q3, 0.869,  Electronic Arts Inc, Q2, 0.103,  Entergy Corp, Q3, 2.003,  Fiserv Inc, Q3, 1.274,  Ford Motor Co, Q3, 0.301,  Genworth Financial Inc, Q3, 0.192,  HCP Inc, Q3, 0.692,  JDS Uniphase Corp, Q1, 0.12,  Johnson Controls Inc, Q4, 0.753,  Kimco Realty Corp, Q3, 0.308,  L-3 Communications Holdings Inc, Q3, 1.853,  MetroPCS Communications Inc, Q3, 0.264,  NiSource Inc, Q3, 0.052,  ONEOK Inc, Q3, 0.323,  Pentair Ltd, Q3, 0.629,  Pfizer Inc, Q3, 0.525,  Pitney Bowes Inc, Q3, 0.478,  QEP Resources Inc, Q3, 0.351,  Seagate Technology PLC, Q1, 1.665,  TripAdvisor Inc, Q3, 0.419,  United States Steel Corp, Q3, -0.002,  Valero Energy Corp, Q3, 1.787,  Waste Management Inc, Q3, 0.599,  Western Union Co/The, Q3, 0.449,  Williams Cos Inc/The, Q3, 0.266

US Market News Hurricane Sandy remains the dominant story today as the US markets were mostly closed yesterday and the storm system disrupts travel in the region and also impacts on the final last few days of Presidential campaigning NYSE Euronext confirms that it US markets will remain closed for today, with US equity trading now closed for two days in a row, the first time for more than a century The Carlyle Group announces a £1bn planned development on the London South Bank for a new 48 storey skyscraper and 500 luxury apartments Apple announces a couple of senior executive changes, with the departure of mobile head of software amongst those leaving, with analysts citing the recent bad press over its iPhone mapping service Baidu announces that the macro situation is not as healthy as last year and states that its transition to mobile search was well under way and announces a Q3 revenues just under the forecasts and also guided lower for Q4

Overnight Market News The Reserve Bank of India has cut its full year growth forecasts to 5.8%, and sees inflation of 7.5% and maintains its benchmark interest rate at 7.5%, but cuts the lenders reserve requirements, adding around 175bn rupees into the system The Bank of Japan has also left its rate unchanged and increases its asset purchase fund to 66tn yen, in line with the expectations Hitachi has agreed to buy the UK Horizon nuclear project from the previous German owners for £700m, ahead of interest from Westinghouse, while France’s top regulator states that the safety failings seen in the nuclear industry in Japan ahead of the Fukushima disaster are being played out in other countries Shanghai Securities News suggests that regulators are looking at easing limitations on foreign investment in Chinese commodity futures firms Sharp continues its volatile trading, up 8% yesterday on vague talk that it is looking to form a partnership deal with Apple, Google or Microsoft

Major Global IPOs Due Today Shanghai Fosun Pharmaceutical Group Co Ltd, (2196), 336.07m, HKD 11.8 Southcross Energy Partners LP, (SXE), 9m, USD 19 - 21 Telefonica Deutschland Holding AG, (O2D), 225m, EUR 5.25 - 6.5 Zespol Elektrowni Patnow Adamow Konin SA, (3555945Z), 26.013m, PLN 26.2

FX Summary The Canadian dollar has dropped back under parity as the risk appetite continues to dampen in the near term

Commodity Summary Oil prices have stayed relatively muted despite refineries in the US east coast shutting down production, as the storm system while bad so far appears to be causing less damage to infrastructure than the very worst of forecasts

Economic Data Due 10:00 Eurozone October Consumer Confidence, -25.6 exp. -25.6 previous 11:00 UK October CBI Reported Sales, 8 exp. 6 previous 14:00 US October Consumer Confidence, 73.0 exp. 70.3 previous

Contact Us For Sales/Traders:- 0044 (0) 207 894 8883

Footnotes All times given are BST Cantor Call, as at 07:15 S&P Companies Reporting, (BMO) - Before Market Open, (AMC) - After Market Close Analyst Changes, as at 06:45 Insider Deals data compiled from Director/PDMR Shareholding forms published in the past 24 hours (ex weekends). Major European Companies defined as those companies in the STOXX Europe 600 Index FTSE 100 Movers, Blue >0.25%, Green <0.25%, Red <-0.25%, Font size dependent on percentage size of move

Disclaimer This report is issued by Cantor Fitzgerald Europe, which is authorised and regulated by the Financial Services Authority.  This report is prepared and distributed for information purposes only.  This report may contain information obtained by Cantor Fitzgerald Europe from third parties; the source of information will usually be disclosed.  Cantor Fitzgerald Europe makes no representation and gives no warranty as to the accuracy or completeness of the contents of this report.  Any person placing reliance upon this report does so at his own risk.  Cantor Fitzgerald Europe, its officers, employees, affiliates and shareholders shall not be liable to any person in any way whatsoever for any losses, costs or claims howsoever arising from any inaccuracies or omissions in this report or any reliance on this report. This report should not be considered to be a solicitation nor the offer of advice for the purposes of the sale or purchase of any security, investment or derivative.  The information contained in this report is not intended to form the basis of any investment decision and should not be considered a recommendation by Cantor Fitzgerald Europe or any other person in relation to any of the companies, stock, commodities, currencies or other markets referred to in this report. The information contained in this report has not been verified by Cantor Fitzgerald Europe and Cantor Fitzgerald Europe undertakes no obligation to provide recipients of this report with any additional information or any update to or correction of the information contained in this report. Cantor Fitzgerald Europe is authorised and regulated by the Financial Services Authority (“FSA”) under firm reference number 149380.

Risk Warning Trading CFDs carries a high level of risk to your capital and is not suitable for all customers. Furthermore, margined products use leverage to increase the level of exposure to the product, and as a result your losses may substantially exceed your initial deposit and require you to make additional deposits at short notice. Prior to trading leveraged CFDs, you should carefully consider your investment objectives, experience and risk appetite and should not invest money that you cannot afford to lose. You should ensure you fully understand the risks and seek independent financial advice if in doubt.

Click for more »

Week Ahead

Monday, October 29, 2012 UK Reporting:- Arm Holdings Plc, ARM, (SM), City Of London Investment Tr, CTY, (SM), Glaxosmithkline Plc, GSK, (Pr), Perform Group Plc, PER, (R), Perform Group Plc, PER, (R), Perform Group Plc, PER, (R), Perform Group Plc, PER, (R) S&P 500 Reporting:- Anadarko Petroleum Corp, Q3, 0.753,  Flowserve Corp, Q3, 2.061,  FMC Corp, Q3, 0.776,  Harris Corp, Q1, 1.123,  Leggett & Platt Inc, Q3, 0.382,  Life Technologies Corp, Q3, 0.888,  Loews Corp, Q3, 0.715,  Masco Corp, Q3, 0.12,  PG&E Corp, Q3, 0.883,  Plum Creek Timber Co Inc, Q3, 0.365 Euro Stoxx 600 Reporting:- Assa Abloy AB, Q3, 3.623,  Cofinimmo, Q3, 1.757,  Deutsche Boerse AG, Q3, 0.89,  Distribuidora Internacional de Alimentacion SA, Q3, 0.071,  Galp Energia SGPS SA, Q3, 0.127,  GEA Group AG, Q3, 0.47,  Linde AG, Q3, 1.877,  QIAGEN NV, Q3, 0.246,  Sydbank A/S, Q3, 3.162,  TNT Express NV, Q3, 0.069 Economic Data:- 00:01 UK October Hometrack m/m, -0.1%, -0.1% previous 12:30 US September Personal Income, 0.4% exp. 0.1% previous Economic Events:- Bank of England's Haldane speaks in London IPO:- CEZ Electro Bulgaria AD-Sofia, (1CZ), 0.0017m, BGN 8.66 GLG Income Opportunities Fund, (0601469D), 5m, CAD 10

Tuesday, October 30, 2012 UK Reporting:- Amec Plc, AMEC, (SM), Aquarius Platinum Ltd, AQP, (R), Arm Holdings Plc, ARM, (SM), Astrazeneca Plc, AZN, (Pr), Bp Plc, BP, (R), Bp Plc, BP, e, (CC), Euromoney Instl Investor Plc, ERM, (Pr), Euromoney Instl Investor Plc, ERM, (Pr), Imperial Tobacco Group Plc, IMT, (R), Imperial Tobacco Group Plc, IMT, e, (CC), Laird Plc, LRD, (R), Royal Bank Of Scotland Group, RBS, (Pr), Standard Chartered Plc, STAN, (R), Standard Chartered Plc, STAN, (R), Ubm Plc, UBM, (SM), Wolfson Microelectronics Plc, WLF, (R), Wolfson Microelectronics Plc, WLF, e, (CC) S&P 500 Reporting:- Allergan Inc/United States, Q3, 1.037,  Archer-Daniels-Midland Co, Q1, 0.473,  Automatic Data Processing Inc, Q1, 0.625,  Avon Products Inc, Q3, 0.226,  Cardinal Health Inc, Q1, 0.794,  CBRE Group Inc, Q3, 0.33,  Cummins Inc, Q3, 1.834,  DaVita Inc, Q3, 1.552,  Ecolab Inc, Q3, 0.869,  Electronic Arts Inc, Q2, 0.103,  Entergy Corp, Q3, 2.003,  Fiserv Inc, Q3, 1.274,  Ford Motor Co, Q3, 0.301,  Genworth Financial Inc, Q3, 0.192,  HCP Inc, Q3, 0.692,  JDS Uniphase Corp, Q1, 0.12,  Johnson Controls Inc, Q4, 0.753,  Kimco Realty Corp, Q3, 0.308,  L-3 Communications Holdings Inc, Q3, 1.853,  MetroPCS Communications Inc, Q3, 0.264,  NiSource Inc, Q3, 0.052,  ONEOK Inc, Q3, 0.323,  Pentair Ltd, Q3, 0.629,  Pfizer Inc, Q3, 0.525,  Pitney Bowes Inc, Q3, 0.478,  QEP Resources Inc, Q3, 0.351,  Seagate Technology PLC, Q1, 1.665,  TripAdvisor Inc, Q3, 0.419,  United States Steel Corp, Q3, -0.002,  Valero Energy Corp, Q3, 1.787,  Waste Management Inc, Q3, 0.599,  Western Union Co/The, Q3, 0.449,  Williams Cos Inc/The, Q3, 0.266 Euro Stoxx 600 Reporting:- Bayer AG, Q3, 1.143,  Bolsas y Mercados Espanoles SA, Q3, 0.378,  BP PLC, Q3, 0.217,  Danske Bank A/S, Q3, 1.504,  Deutsche Bank AG, Q3, 0.819,  Eni SpA, Q3, 0.432,  Erste Group Bank AG, Q3, 0.412,  Ferrovial SA, Q3, 0.19,  Fiat SpA, Q3, 0.13,  Geberit AG, Q3, 3.23,  Hugo Boss AG, Q3, 1.784,  Imperial Tobacco Group PLC, R, 1.993,  MAN SE, Q3, 1.014,  Metro AG, Q3, 0.523,  Nokian Renkaat OYJ, Q3, 0.548,  Software AG, Q3, 0.442,  Swedish Match AB, Q3, 3.766,  UBS AG, Q3, 0.294,  YIT OYJ, Q3, 0.309 Economic Data:- 10:00 Eurozone October Consumer Confidence, -25.6 exp. -25.6 previous 11:00 UK October CBI Reported Sales, 8 exp. 6 previous 14:00 US October Consumer Confidence, 73.0 exp. 70.3 previous Economic Events:- Monti speaks in Rome IPO:- Shanghai Fosun Pharmaceutical Group Co Ltd, (2196), 336.07m, HKD 11.8 Southcross Energy Partners LP, (SXE), 9m, USD 19 - 21 Telefonica Deutschland Holding AG, (O2D), 225m, EUR 5.25 - 6.5 Zespol Elektrowni Patnow Adamow Konin SA, (3555945Z), 26.013m, PLN 26.2

Wednesday, October 31, 2012 UK Reporting:- Anglo Pacific Group Plc, APF, e, (CC), Anglo Pacific Group Plc, APF, (R), Antofagasta Plc, ANTO, (R), Arm Holdings Plc, ARM, (SM), Ashmore Group Plc, ASHM, (SM), Barclays Plc, BARC, (R), Barclays Plc, BARC, (R), Barclays Plc, BARC, (R), Braemar Shipping Services Pl, BMS, (R), F&C Asset Management Plc, FCAM, (R), Glaxosmithkline Plc, GSK, (R), Glaxosmithkline Plc, GSK, e, (CC), Lamprell Plc, LAM, (R), Mondi Plc, MNDI, (R), Mondi Plc, MNDI, (R), Next Plc, NXT, (R), Pacific Horizon Inv Tr Plc, PHI, (SM), Phoenix Group Holdings, PHNX, (R), Phoenix Group Holdings, PHNX, (R), St James'S Place Plc, STJ, (R), Standard Life Plc, SL, (R), Standard Life Plc, SL, (R), Volex Plc, VLX, (R), Volex Plc, VLX, e, (CC) S&P 500 Reporting:- Allstate Corp/The, Q3, 1.133,  American Tower Corp, Q3, 0.74,  BMC Software Inc, Q2, 0.872,  BorgWarner Inc, Q3, 1.191,  Cameron International Corp, Q3, 0.883,  Clorox Co/The, Q1, 0.956,  Eaton Corp, Q3, 1.088,  Exelon Corp, Q3, 0.718,  First Solar Inc, Q3, 1.075,  Harman International Industries Inc, Q1, 0.784,  Hess Corp, Q3, 1.186,  Iron Mountain Inc, Q3, 0.352,  Mastercard Inc, Q3, 5.904,  McGraw-Hill Cos Inc/The, Q3, 1.306,  MetLife Inc, Q3, 1.282,  Murphy Oil Corp, Q3, 1.198,  NRG Energy Inc, Q3, 0.442,  Phillips 66, Q3, 2.357,  Pioneer Natural Resources Co, Q3, 0.97,  Quanta Services Inc, Q3, 0.387,  Ralph Lauren Corp, Q2, 2.143,  Rowan Cos Plc, Q3, 0.479,  SCANA Corp, Q3, 0.886,  Sealed Air Corp, Q3, 0.31,  Southern Co/The, Q3, 1.129,  Tesoro Corp, Q3, 2.327,  Time Warner Cable Inc, Q3, 1.426,  Unum Group, Q3, 0.765,  Visa Inc, Q4, 1.495,  Wisconsin Energy Corp, Q3, 0.575 Euro Stoxx 600 Reporting:- Abertis Infraestructuras SA, Q3, 0.28,  Air France-KLM, Q3, 0.495,  Anheuser-Busch InBev NV, Q3, 1.205,  ArcelorMittal, Q3, -0.122,  Banco Bilbao Vizcaya Argentaria SA, Q3, 0.1,  Barclays PLC, Q3, 0.078,  Chr Hansen Holding A/S, R, 0.937,  Clariant AG, Q3, 0.275,  Continental AG, Q3, 2.354,  Deutsche Lufthansa AG, Q3, 0.73,  Ebro Foods SA, Q3, 0.23,  Fiat Industrial SpA, Q3, 0.32,  Fresenius Medical Care AG & Co KGaA, Q3, 0.724,  Fresenius SE & Co KGaA, Q3, 1.378,  GlaxoSmithKline PLC, Q3, 0.283,  Grifols SA, Q3, 0.23,  Lundin Petroleum AB, Q3, 0.145,  Novo Nordisk A/S, Q3, 9.429,  Orkla ASA, Q3, 0.823,  Pohjola Bank PLC, Q3, 0.186,  Sika AG, Q3, 0,  Total SA, Q3, 1.358 FTSE 100 Ex dividends (net): Intertek Group PLC, ITRK, (13), ITV PLC, ITV, (.80) Estimated FTSE 100 Dividend Impact: 0.2 points FTSE 250 Ex dividends (net): Booker Group PLC, BOK, (.38),  Howden Joinery Group PLC, HWDN, (.30),  Laird PLC, LRD, (3.40),  Provident Financial PLC, PFG, (28.80) FTSE Small Share Ex dividends (net): Bloomsbury Publishing PLC, BMY, (.94),  City Natural Resources High Yield Trust PLC, CYN, (.86),  Development Securities PLC, DSC, (2.40),  Hilton Food Group Ltd, HFG, (3.40),  JPMorgan Claverhouse Investment Trust PLC, JCH, (3.50),  JPMorgan Global Emerging Markets Income Trust Plc, JEMI, (2.15),  Lookers PLC, LOOK, (.80),  Schroder Real Estate Investment Trust Ltd, SREI, (.88) Economic Data: 00:01 UK October GfK Consumer Confidence, -28 exp. -28 previous 10:00 Eurozone October CPI, 2.5% exp. 2.7% previous 13:45 US October Chicago Purchasing Manager, 51.0 exp. 49.7 previous Economic Events:- Taylor Testifies to UK Banking Standards Panel IPO:- Matrix 2012 Enhanced Short Duration National and Quebec Flow Through LP, (0611974D), 2.5m, CAD 10 Pegasus Enterntainment Holdings Ltd, (8039), 100m, HKD 0.8 - 1

Thursday, November 1, 2012 UK Reporting:- Arm Holdings Plc, ARM, (SM), Avocet Mining Plc, AVM, (R), Avocet Mining Plc, AVM, e, (CC), Bg Group Plc, BG, e, (CC), Bg Group Plc, BG, (R), British Sky Broadcasting Gro, BSY, (R), British Sky Broadcasting Gro, BSY, e, (CC), British Sky Broadcasting Gro, BSY, (SM), British Sky Broadcasting Gro, BSY, e, (CC), Bt Group Plc, BT/A, e, (CC), Bt Group Plc, BT/A, (R), Croda International Plc, CRDA, (R), Glaxosmithkline Plc, GSK, (Pr), Glaxosmithkline Plc, GSK, (Pr), Glencore International Plc, GLEN, (R), Henderson Group Plc, HGG, (R), Legal & General Group Plc, LGEN, (R), Legal & General Group Plc, LGEN, (R), Lloyds Banking Group Plc, LLOY, (R), Lloyds Banking Group Plc, LLOY, (R), Lloyds Banking Group Plc, LLOY, (R), Royal Dutch Shell Plc-A Shs, RDSA, (R), Royal Dutch Shell Plc-A Shs, RDSA, e, (CC), Smith & Nephew Plc, SN, (R), Smith & Nephew Plc, SN, e, (CC) S&P 500 Reporting:- AGL Resources Inc, Q3, 0.213,  American International Group Inc, Q3, 0.874,  AmerisourceBergen Corp, Q4, 0.679,  Apache Corp, Q3, 2.244,  Apartment Investment & Management Co, Q3, 0.429,  Cablevision Systems Corp, Q3, 0.161,  Chesapeake Energy Corp, Q3, 0.103,  Cigna Corp, Q3, 1.359,  Edison International, Q3, 1,  Ensco PLC, Q3, 1.296,  Estee Lauder Cos Inc/The, Q1, 0.768,  Exxon Mobil Corp, Q3, 1.964,  FirstEnergy Corp, Q3, 1.06,  Fluor Corp, Q3, 0.965,  Hartford Financial Services Group Inc, Q3, 0.831,  Invesco Ltd, Q3, 0.445,  Kellogg Co, Q3, 0.807,  Lincoln National Corp, Q3, 1.033,  Marathon Petroleum Corp, Q3, 3.233,  Newmont Mining Corp, Q3, 0.904,  priceline.com Inc, Q3, 11.829,  Public Service Enterprise Group Inc, Q3, 0.72,  Republic Services Inc, Q3, 0.487,  RR Donnelley & Sons Co, Q3, 0.444,  Scripps Networks Interactive Inc, Q3, 0.744,  Southwestern Energy Co, Q3, 0.328,  Spectra Energy Corp, Q3, 0.307,  Starbucks Corp, Q4, 0.448,  TECO Energy Inc, Q3, 0.378,  Teradata Corp, Q3, 0.665,  Vornado Realty Trust, Q3, 1.16,  Watson Pharmaceuticals Inc, Q3, 1.285,  WPX Energy Inc, Q3, -0.026,  Xylem Inc/NY, Q3, 0.433 Euro Stoxx 600 Reporting:- BG Group PLC, Q3, 0.329,  British Sky Broadcasting Group PLC, Q1, 0.13,  BT Group PLC, S1, 0,  Croda International PLC, Q3, 0,  Lloyds Banking Group PLC, Q3, 0.008,  Royal Dutch Shell PLC, Q3, 1.007,  Smith & Nephew PLC, Q3, 0.163,  TDC A/S, Q3, 0.971,  TGS Nopec Geophysical Co ASA, Q3, 0.699,  Wereldhave NV, Q3, 0.96 Economic Data:- 09:30 UK October PMI Manufacturing, 48.0 exp. 48.4 previous 12:30 US Non Farm productivity 1.5% exp. 2.2% previous 12:30 US Initial Jobless Claims, 370k exp. 369k previous 14:00 US October Manufacturing ISM, 51.2 exp. 51.5 previous Economic Events:- IMF Briefing IPO:- Timbercreek US Multi-Residential Opportunity Fund #1, (0601530D), 2.2444m, CAD 10 Delek Logistics Partners LP, (DKL), 8m, USD 19 - 21 Restoration Hardware Holdings Inc, (0097613Z), 5.16433m, USD 22 - 24 Singulex Inc, (SGLX), 4.375m, USD 15 - 17 Taylor & Martin Group Inc, (TMG), 15m, USD 10 - 12

Friday, November 2nd, 2012 UK Reporting:- Admiral Group Plc, ADM, (R), Admiral Group Plc, ADM, (R), Arm Holdings Plc, ARM, (SM), Bwin.Party Digital Entertain, BPTY, (R), Bwin.Party Digital Entertain, BPTY, (R), Emblaze Ltd, BLZ, e, (R), Genesis Emerging Markets, GSS, (SM), Glaxosmithkline Plc, GSK, (Oth), Meggitt Plc, MGGT, (R), Millennium & Copthorne Hotel, MLC, (R), Royal Bank Of Scotland Group, RBS, (R), Royal Bank Of Scotland Group, RBS, (R), Royal Bank Of Scotland Group, RBS, (R), Royal Bank Of Scotland Group, RBS, (R), Spirent Communications Plc, SPT, e, (R) S&P 500 Reporting:- Beam Inc, Q3, 0.548,  Chevron Corp, Q3, 2.846,  Consolidated Edison Inc, Q3, 1.377,  Monster Beverage Corp, Q3, 0.55,  Pinnacle West Capital Corp, Q3, 2.246,  PPL Corp, Q3, 0.668,  Titanium Metals Corp, Q3, 0.172,  Vulcan Materials Co, Q3, 0.155 Euro Stoxx 600 Reporting:- Aker Solutions ASA, Q3, 1.946,  Alcatel-Lucent/France, Q3, -0.029,  Beiersdorf AG, Q3, 0.486,  Royal Bank of Scotland Group PLC, Q3, 0.031,  Spirent Communications PLC, Q3, 0.036 Economic Data:- 09:00 Eurozone October PMI Manufacturing, 45.3 exp. 45.3 previous 12:30 US Change in Non Farm Payrolls, 125k exp. 114k previous 14:00 US September Factory Orders, 4.6% exp. -5.2% previous Economic Events:- Bank of Japan Meeting Minutes IPO:- Express Transindo Utama Tbk PT, (TAXI), 1051.28m, IDR 560 Reminder:- US Daylight Saving ends over the weekend

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Cantor Day Ahead

Cantor Opening Call The FTSE is seen starting the day up around 20 points

UK Corporate Announcements Home Retail announces H1 sales of £2.53bn down 1% and states that a review identifies it needs to invest in its Argos unit and targets £4.5bn of Argos sales by full year 2018 and continues to plan cautiously National Express states that the outlook for 2013 remains challenging but that it remains on target to meet its forecasts British American Tobacco reports nine month revenues of £517bn up 4% and sees another solid year of good earnings growth despite the challenging market conditions and volumes being under pressure Punch Taverns announces a full year EBITDA of £238m from £258m and states that its restructuring will deliver investor value

UK Market News UK business press details on how Mervyn King indicated yesterday that the Bank of England tactics were starting to lose traction, and on the quite rapid market sell-off yesterday which saw the market give back the recent weeks gains and as the market continues to struggle to push back up through the psychologically important 6,000 area The FT writes on how some major shareholders in Trinity Mirror are calling for an investigation into alleged phone hacking at its titles BHP Billiton is reportedly considering the sale of its Pinto Valley Copper Mine in Arizona

UK Analyst Upgrades Eurotunnel Pt Raised 1% To Eu7.5 At Exane; Kept At Outperform G4S Raised To Outperform From Sector Perform At Rbc Capital

UK Analyst Cuts Aggreko Cut to Outperform from Top Pick at RBC Capital Wpp Removed From Ubs’S Most Preferred List Wpp Cut To Neutral Vs Buy At Ubs

UK Insider Buying None Detailed

UK Insider Selling None Detailed

Major European Companies Reporting SAP, Elan, Puma, Iberdrola, Storebrand, Volvo, Volkswagen

European Market Summary Draghi is due to update German lawmakers in Berlin on the ongoing eurozone issues Greece stays high on the agenda as the coalition fails to get full backing on planned austerity measures as two junior parties in the coalition opposed the planned labour reforms The French government is reportedly close to finalising a deal to support Peugeot by providing up to €7bn of guarantees Brussels has now scrapped plans to introduce a law that would have forced all publicly traded companies to have at least 40% women on their boards SAP announces Q3 software revenues of €1.03bn ahead of estimates of €980m seen Germany is due to sell €4bn in 10 year bonds this morning

Major US Stock Movers After Hours Netflix fell over 19% after hours as it announced that it was cutting its full year forecasts for domestic growth and saw larger losses from international expansions RF Micro Devices gained 12% as it announced a Q3 EPS of 3c well ahead of the forecasts Facebook also gained over 10% after hours as it manages to shake off some of the post IPO gloom by reporting better than expected numbers, buoyed by mobile revenues Zynga detailed that it is to cut 5% of its workforce and close down support on 13 of its older game titles and gained 3% after hours

US Market News The quite rapid sell-off yesterday is being labelled as some profit taking following the start of the US corporate reporting season, which so far has under-whelmed, on some wider market nervousness ahead of the Fed rate decision due this evening Apple launched its Mini iPad yesterday with analysts concerned that the pricing leaves it vulnerable to the rival offerings Ex Goldman director Gupta is due to hear his sentence on the insider trading case today Bloomberg’s Chart of the Day highlights how personal sales of 3D printers have grown 35,000% since 2007, as the hi tech gear now costs less than $5,000

Overnight Market News LG Electronics the second largest mobile phone maker in South Korea announces a return to profit in Q3, buoyed by higher local demand The founder of Billabong has survived a move to drop him from the board after he rejected a takeover bid from TPG Capital at $4/share, Billabong traded in Sydney at 84.5 cents overnight Huawei has offered Australian authorities access to its code and equipment and states that concerns over possible security threats were distorted

Major Global IPOs Due Today Blackrock North American, 100m Shares, GBP £1.00 Wolfpack Gold Corp, 16.67m CAD0.6

FX Summary The Bank of China suggests that the surging dollar in Singapore could prevent the state from becoming an alternative to Hong Kong for yuan deposits The Hong Kong Monetary Authority sold its own currency for the second time this week as it looks to halt the appreciation to the upper limit of its 29 year peg to the US dollar

Commodity Summary Gold stayed strong yesterday amid the wider market nervousness and on renewed safe haven buying ahead of the Fed rate announcement this evening

Economic Data Due 09:00 Germany October IFO Business Climate, 101.6 exp. 101.4 prev. 15:00 US September New Home Sales, 385k exp. 373k previous 19:15 US FOMC Rate Decision, 0.25% unchanged expected

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