Day Ahead

Should the UK leave the EU? Join this debate to help inform your view for 2013 Monday, December 17, 2012, Marketing Communication Cantor Opening Call The FTSE is seen starting the week around unchanged UK Corporate Announcements Aggreko announces a full year profit of £365m but states that it is hard to give a definitive view for 2013 due to the uncertain economic environment Hunting states that it is trading in line with the expectations for the full year UK Market News Cookson announces that its shares have been cancelled and that it has become a wholly owned unit of Vesuvius (VSVS) Morgan Stanley suggests that UK banking dividends will remain constrained and that external capital raising is unlikely in 2013 AstraZeneca has won a court case blocking the sale of generic versions of its blockbuster Crestor drug until 2016 Morgan Stanley suggests that UK banking dividends will remain constrained and that external capital raising is unlikely Bloomberg details how the international markets seem to have lost some confidence in the rating agencies, as it details that global bond markets moved in the opposite direction from what ratings agencies suggested in 53% of the 23 downgrades in 2012, from the longer term average of 47% The Telegraph suggests that Trafigura the oil trading group may look for a possible IPO in 2013, the firm currently is most well known as being part of a Twitter libel campaign in 2012 where the social media technology allowed posters to break the court orders on the reporting of a toxic oil spill The paper also writes that creditors in Comet are expected to see a return of around 34p in the pound French press suggests that Vincent Bollore has sold much of his stake in Aegis to Chinese based Dentsu, with a capital gain of around €450m FTSE 100 Movers UK Analyst Upgrades National Express Group Raised to Outperform at RBC Capital Unilever Raised To Neutral Vs Underperform At Credit Suisse UK Analyst Cuts Betfair Cut To Underweight From Neutral At Jpmorgan UK Insider Buying None Detailed UK Insider Selling None Detailed Major European Companies Reporting None Detailed European Market Summary Merkel has warned that Eurozone nations still need to do more on cost cutting, as she states that Europe will have to ‘work very hard’ to maintain the most generous welfare system in the world Croatia may look for increased cooperation with the IMF after S&P cuts its debt to junk, and Moody’s extends its review for downgrade on Sicily While the head of Italy’s central bank states that Rome will not be forced to seek help from the ECB KPN announces that it has scrapped its dividend in order to help finance the purchase of additional mobile phone spectrum France sells up to €6bn in bills today Major US Stock Movers After Hours There were no major movers after hours S&P 500 Companies Reporting None Detailed US Market News Citigroup details that it cuts its stance on Apple to Hold from Buy and sees a new trading range between $575-675 Sources suggest that Seaworld Parks is close to filing for an IPO Barron’s details that analysts on average see the S&P 500 up 10% in 2013 The paper also details how an analysts at Barclays feels that Johnson & Johnson could gained by 20% next year The paper also writes on talk that Apple should consider buying back as much as $50bn of its own stock Overnight Market News As expected Shinzo Abe has won the Japanese general election giving his new party the political mandate to push through his plans for additional monetary stimulus as he secured 294 of the 480 lower house seats and with the coalition partner should now be able to push through much needed reforms Local press details that he also needs to repair relations with China Economic Data Due 00:01 UK December Rightmove House Prices, -2.6% previous 13:30 US December Empire Manufacturing, -0.50 exp. -5.22 previous Economic Events WTO Dispute Settlement Body Meets US Empire Manufacturing Contact Us For Spread Bet Sales:- 0044 (0) 207 894 8800 For CFD Sales/Traders:- 0044 (0) 207 894 8883 Email:- sales@cantorcapital.com Footnotes All times given are BST Cantor Call, as at 7:15am S&P Companies Reporting: (BMO) - Before Market Open (AMC) - After Market Close Analyst Changes, as at 6:45am Insider Deals data compiled from Director/PDMR Shareholding forms published in the past 24 hours (ex weekends). 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