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Day Ahead

Tuesday, 18 December 2012


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Tuesday, December 18, 2012, Marketing Communication
Cantor Opening Call
  • The FTSE is seen up around 25 points higher this morning
Cantor Capital Graphs
UK Corporate Announcements
  • Morgan Sindall states that it is trading in line with the board’s expectations
  • Skyepharma also announces that it is trading in line with the forecasts
  • Unite Group details that it remains well placed for the future
  • Kellar Group announces that its full year guidance is unchanged from November
UK Market News
  • The news flow stays light as the markets continue the traditional wind down into the holiday period
  • The Times writes on how the coalition government is continuing to lose some support, while UKIP gains, and Cameron responds to the move by stating that he can imagine a scenario where the UK would leave the EU, but stressed that a withdrawal was not his preference
  • The Competition Commission states that Rank Group may need to sell assets and that the Rank Gala merger may damage competition in 6 areas
  • Glaxo has secured NICE backing for its Revolade treatment after making a discount reversing the 2010 decision that it was too costly
FTSE 100 Movers
FTSE 100 Movers Image
UK Analyst Upgrades
  • Borders And Southern Raised To Buy Vs Neutral At Goldman
  • Cairn Energy Raised To Buy Vs Neutral At Ubs
UK Analyst Cuts
  • Aggreko PT Cut to 2,100p from 2,500p at RBC Capital
  • Direct Line Group Rated New Sell at Berenberg; PT 174p
  • Falkland Oil Cut To Neutral Vs Buy At Goldman
  • Genel Energy Cut To Neutral Vs Buy At Ubs
  • Global Energy Development Cut To Neutral Vs Buy At Goldman
UK Insider Buying
  • None Detailed
UK Insider Selling
  • Prudential Plc, (PRU), 1 insider(s) sold 93333 shares, £8.8
Major European Companies Reporting
  • None Detailed
European Market Summary
  • 09:30 this morning Sweden’s Riksbank announces its interest rate decision where rates are expected to be cut 25bp to 1%
  • UBS stays in focus as it is expected to detail its settlement on Libor manipulation allegations this week
  • Greece sells €1bn in 91 day bills at 11:00, and Spain sells 3-6 month bills at 10:30
Major US Stock Movers After Hours
  • Diamond Foods came off 1.1% after hours as it announces a Q1 EPS in line, but with sales missing the forecasts
S&P 500 Companies Reporting
  • Oracle Corp, Q2, 0.61
US Market News
  • President Obama continues to edge towards a deal to avoid the fiscal cliff as he makes a new budget offer that would lift taxes by $1.2tn and cut $1.22tn in federal spending
  • Knight Capital reportedly is close to a decision on the takeover approaches
  • The co founder of Level Global Investors and a former Diamondback Capital management portfolio manager have been found guilty of insider trading, and could face as much as 20 years in jail, with sentencing due in 2013
  • Morgan Stanley has been fined $5m by US regulators as they rule that investment bankers still have undue influence on analysts, citing the Facebook IPO
Overnight Market News
  • India’s RBA has kept its key benchmark interest rate unchanged at 8% and states its policy has to increasingly shift towards growth
  • The Japanese regulator has reportedly joined the probe into RBS and allegations of manipulating interest rates
  • Samsung has won its order denying Apple’s request for a US sales ban
Economic Data Due
  • 09:30 UK November PPI Output, nsa, 0.2% exp. 0.1% previous
  • 13:30 US Q3 Current Account, -$103.1bn exp. -$117.4bn previous
Economic Events
  • None Detailed
US CPI
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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).
  • 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
  • This note is compiled using information / charts from financial data providers such as Bloomberg and Reuters, as well as from the general financial / business media
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Risk WarningFull Risk Warning

Spread Bets are leveraged products placing your capital at risk. Losses can quickly exceed your initial deposit and thus require you to make additional deposits at short notice to maintain your positions. Leveraged products are not suitable for all customers. Please ensure you understand the risks involved before opening an account. Cantor Index provides an execution only service and does not offer investment advice. You should ensure you fully understand the risks and seek independent financial advice if necessary. These products are not intended for people under the age of 18 or for US residents.