Day Ahead

Thursday, January 31, 2013, Marketing Communication Cantor Opening Call The FTSE is seen opening down around 15 points this morning UK Corporate Announcements BSkyB announces H1 revenues of £3.53bn up 5% and an adjusted operating profit of £647m ahead of the expectations of around £636m seen Lonmin details that Q2 was proceeding well and with the positive momentum seen in Q1 SSE states that it remains on track to achieve its operation and investment objectives Investec announces total operating income has gained 1% from previous year Shell reports Q4 profit of $5.6bn, from $4.8bn, but just under the forecasts of around $6.2bn seen, and that the economic outlook remains uncertain, Exxon and Chevron are due to update tomorrow Diageo reports H1 EBIT of £2.029bn, largely in line and confirms its medium term guidance AstraZeneca announces Q4 EPS ex items of $1.56, ahead of the forecasts of $1.33 seen, on revenues of $28bn also ahead, and that no share repurchases will take place in 2013 Mitchells & Butlers states that the economic conditions remain challenging but remains confident that it will perform well in the year ahead Babcock states that the market conditions remain positive UK Market News UK Mortgage lending in December was at its strongest for 11 months, up to 55,785k new mortgages The Telegraph suggests that the UK government is to pull a 2nd rail franchise bidding contest extending the current contract to current operator first group, FirstGroup confirms today that the First Great Western Franchise will continue beyond its current March end date, with a 28 week extension Kenneth Clarke has stated that an exit of the EU would be fatal Lord Lawson has stated that consultants who advise on bankers’ pay make prostitutes look respectable UK Analyst Upgrades Lonmin Raised To Overweight From Neutral At Jpmorgan Soco Raised To Buy Vs Hold At Numis UK Analyst Cuts Imagination Raised To Overweight Vs Equalweight: Carphone Warehouse Cut From Equalweight At Morgan Stanley Carphone Warehouse Cut To Underweight At Morgan Stanley Debenhams Cut To Equalweight Vs Overweight At Morgan Stanley Greene King Cut To Neutral Vs Buy At Goldman Home Retail Cut To Equalweight Vs Overweight At Morgan Stanley UK Insider Buying Chemring Group Plc, (CHG), 1 insider(s) bought 20000 shares, £2.82 UK Insider Selling Kcom Group Plc, (KCOM), 1 insider(s) sold 500000 shares, £0.73 Pennon Group Plc, (PNN),  insider(s) sold 5000 shares, £7.07 FTSE 100 Movers Major European Companies Reporting Amer Sports Oyj, R, 0.707,  AstraZeneca PLC, R, 6.202,  Atlas Copco AB, R, 11.433,  Banco Santander SA, R, 0.414,  British Sky Broadcasting Group PLC, S1, 0.275,  Deutsche Bank AG, R, 3.518,  Diageo PLC, S1, 0.597,  Fiat Industrial SpA, R, 0.755,  Fortum OYJ, R, 1.285,  Infineon Technologies AG, Q1, 0.025,  Klepierre, R, 1.965,  Konecranes OYJ, R, 1.593,  LVMH Moet Hennessy Louis Vuitton SA, R, 7.204,  Novo Nordisk A/S, R, 38.053,  Royal Dutch Shell PLC, R, 4.202,  Skandinaviska Enskilda Banken AB, R, 5.37,  Telefonaktiebolaget LM Ericsson, R, 3.492,  TeliaSonera AB, R, 4.253,  UPM-Kymmene OYJ, R, 0.659 European Market Summary Deutsche Bank today announces a Q4 net loss of €2.17bn against expectations of a €311m loss as it increases capital levels and cuts staffing levels Major US Stock Movers After Hours Facebook announces net income fell 79% to $64m in the last quarter after higher spending, with revenues up 40% to $1.59bn, the stock came off 3.5% on the news Skyworks, the Apple parts supplier, gained 13% after hours as it announces Q1 results ahead of thee forecasts and also lifts its forecasts for Q2 JDS Uniphase gained 7.7% in late trading as it announced revenues ahead of the forecasts Fusion-io was the leading faller off 24% as the data storage maker lowered its outlook for Q3 S&P 500 Companies Reporting Aetna Inc, Q4, 0.945,  Altria Group Inc, Q4, 0.545,  AutoNation Inc, Q4, 0.642,  Ball Corp, Q4, 0.655,  Bemis Co Inc, Q4, 0.496,  Cameron International Corp, Q4, 0.954,  CH Robinson Worldwide Inc, Q4, 0.7,  Chubb Corp/The, Q4, -0.457,  Colgate-Palmolive Co, Q4, 1.395,  CONSOL Energy Inc, Q4, 0.231,  CR Bard Inc, Q4, 1.67,  Dominion Resources Inc/VA, Q4, 0.692,  Dow Chemical Co/The, Q4, 0.341,  Eastman Chemical Co, Q4, 1.19,  Harman International Industries Inc, Q2, 0.89,  Helmerich & Payne Inc, Q1, 1.292,  Hershey Co/The, Q4, 0.751,  Invesco Ltd, Q4, 0.473,  Mastercard Inc, Q4, 4.827,  McKesson Corp, Q3, 1.631,  Mead Johnson Nutrition Co, Q4, 0.677,  NASDAQ OMX Group Inc/The, Q4, 0.609,  Occidental Petroleum Corp, Q4, 1.66,  PACCAR Inc, Q4, 0.681,  PerkinElmer Inc, Q4, 0.654,  Pitney Bowes Inc, Q4, 0.515,  Principal Financial Group Inc, Q4, 0.736,  PulteGroup Inc, Q4, 0.317,  Ryder System Inc, Q4, 1.102,  Sherwin-Williams Co/The, Q4, 1.16,  Thermo Fisher Scientific Inc, Q4, 1.281,  Time Warner Cable Inc, Q4, 1.551,  United Parcel Service Inc, Q4, 1.376,  Viacom Inc, Q1, 0.911,  Whirlpool Corp, Q4, 2.248,  Xcel Energy Inc, Q4, 0.28,  Zimmer Holdings Inc, Q4, 1.496 US Market News The US Commerce Dept details that US defence purchases fell 22% in Q4, and contributed to the economy slipping by 0.1% in the quarter Research in Motion’s shares have continued the recent losses, coming off 12%, as it latest phone launch under whelms investors Overnight Market News Honda announces that it is cutting its full year net income forecasts to 370bn yen from 375bn yen Nintendo fell 5% yesterday as it details it was seeing a consumer shift away from gaming consoles to smartphones Sinochem agrees to take a 40% stake in a Texas Oil acreage for $500m from Pioneer Natural Resources Economic Data Due 00:01 UK January Consumer Confidence, -29 exp. -29 previous 07:00 UK January Nationwide House Prices, -0.1% previous 10:00 Eurozone January CPI Estimates, 2.3% exp. 2.2% previous 13:30 US December Personal Income, 0.8% exp. 0.6% previous 13:30 US Initial Jobless Claims, 355k exp. 330k previous 14:45 US January Chicago Purchasing Manager, 51.0 exp. 51.6 previous Economic Events IMF News Conference EU Foreign Ministers Meeting in Brussels US Personal Income 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). 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 Regulatory Disclaimer This market commentary note (“note”) has been issued by Cantor Fitzgerald Europe (“CFE”), which is authorised and regulated by the Financial Services Authority (“FSA”). This note is defined by the FSA as a marketing communication. This note has been prepared and distributed for information purposes only and represents the personal views and opinions of the sender. This note is not “investment research”, a “research recommendation” or a product of the Research Department. Please be aware that the CFE Research Department may issue a formal recommendation and target price on the stocks mentioned, which may differ from the opinion given here.  This note may contain information obtained by CFE from third parties; the source of information will usually be disclosed.  CFE makes no representation and gives no warranty as to the accuracy or completeness of the contents of this note. Any person placing reliance upon this note does so at their own risk. Investors should consider this note as only a single factor in making their investment decision. The investment discussed in this note may be unsuitable for investors depending on their specific investment objectives and financial position. CFE, its officers, employees and affiliates 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 note or any reliance on this note. The recipient is strongly recommended to see independent legal, tax and financial advice. Past performance is not necessarily a guide to future performance. Income from investments may fluctuate The price or value of the investments to which this note relates; either directly or indirectly, may fall or rise against the interest of investors. This note should not be considered to be a solicitation nor an offer of advice for the purposes of the sale or purchase of any security, investment or derivative.  The information contained in this note is not intended to form the basis of any investment decision and should not be considered a recommendation by CFE or any other person in relation to any of the companies, stock, commodities, currencies or other markets mentioned / referred to in this note. All the information contained herein is based upon information available to the public and has been obtained from sources believed to be reliable. However, the information contained in this note has not been verified by CFE and CFE undertakes no obligation to provide recipients of this note with any additional information or any update to or correction of the information contained in this note. This note is provided by CFE and may be forwarded unamended and in its entirety. This note may not be used in whole or in part to create any other work. All rights reserved. Cantor Index is a trading name of (CFE). CFE is authorised and regulated by the FSA under Firm Reference Number 149380.   CFE - FSA Register Information: http://www.fsa.gov.uk/register/firmBasicDetails.do?sid=61341 Registered in England No. 02505767 Registered Address: 17 Crosswall, London, EC3N 2LB 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. 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. You should ensure you fully understand the risks and seek independent financial advice if in doubt. CFE provides an execution only service and does not offer investment advice. These products are not intended for people under the age of 18 or for US residents. The distribution of this note in other jurisdictions may be restricted by law and persons into whose possession this note comes should inform themselves about and observe any such restrictions. By accepting this note you agree to be bound by the foregoing instructions.

Click for more »

Day Ahead

Wednesday, January 30, 2013, Marketing Communication Cantor Opening Call The FTSE is seen opening down around 5 points this morning UK Corporate Announcements Imperial Tobacco states that it stays confident on its strategic focus and that the macro economic environment remains challenging Polymetal details that Q4 sales gained 5% to $571m United Utilities states that it is trading in line and stays confident on its prospects Renishaw announces H1 adjusted operating profit of £42.3m up 42% and lifts its dividend buoyed by growth in China Safestore announces that its CFO resigns and details a full year pre-tax loss of £19.5m from a profit of £8.5m  and sees a challenging year ahead UK Market News India’s Finance Minister states that he hopes the $2.6bn tax dispute with Vodafone could get resolved in talks this week The FT writes that RBS is winding down its M&A business after attempts to spin off the unit failed FTSE 100 Dividends:- None Scheduled FTSE 250 Dividends:- Bankers Investment Trust PLC/The, BNKR, (3.43),  Fenner PLC, FENR, (7),  Merchants Trust PLC/The, MRCH, (5.80),  Pennon Group PLC, PNN, (8.76) FTSE Small Share:- BlackRock Frontiers Investment Trust PLC, BRFI, ($0.026),  City Natural Resources High Yield Trust PLC, CYN, (.86) UK Analyst Upgrades Imagination Raised To Overweight Vs Equalweight: Morgan Stanley Wpp Pt Raised To 1,150P Vs 800P At Jefferies UK Analyst Cuts None Detailed UK Insider Buying Experian Plc, (EXPN), 1 insider(s) bought 20000 shares, £10.84 Easyjet Plc, (EZJ), 1 insider(s) bought 1066 shares, £9.3 UK Insider Selling Kcom Group Plc, (KCOM), 1 insider(s) sold 500000 shares, £0.74 Pennon Group Plc, (PNN),  insider(s) sold 5000 shares, £7.07 FTSE 100 Movers Major European Companies Reporting Coloplast A/S, Q1, 3.026,  Fiat SpA, R, 0.311,  Hennes & Mauritz AB, R, 10.155,  NCC AB, R, 14.967,  Nordea Bank AB, R, 0.751,  Roche Holding AG, R, 13.683,  Scania AB, R, 8.238,  SKF AB, R, 10.18,  STMicroelectronics NV, R, -0.229,  Swedbank AB, R, 12.246,  Unibail-Rodamco SE, R, 9.451,  Zardoya Otis SA, R, 0.489 European Market Summary GfK states that it has taken provisions of various suspected Turkish irregularities reportedly where its Turkish subsidiary may have collaborated to defraud GfK through tax and social security avoidance schemes over several years Europe’s leading trade official has become more terse with Chinese officials stating that Europe needs a larger share of the Chinese market in telecoms equipment Swiss banks have reportedly lifted the cost for holding physical gold by 20% Germany sells €1bn in 30 year notes at 11:30 Major US Stock Movers After Hours Amazon gained after hours as it announces Q4 operating profit ahead of the forecasts although revenues slightly missed, it gained a solid 8% after hours as it detailed that gross margins had improved to 24.1% from 20.7% S&P 500 Companies Reporting ADT Corp/The, Q1, 0.43,  Ameriprise Financial Inc, Q4, 1.47,  AvalonBay Communities Inc, Q4, 1.392,  Avery Dennison Corp, Q4, 0.486,  Boeing Co/The, Q4, 1.186,  Citrix Systems Inc, Q4, 0.841,  ConocoPhillips, Q4, 1.414,  Electronic Arts Inc, Q3, 0.561,  Hess Corp, Q4, 1.253,  Hudson City Bancorp Inc, Q4, 0.119,  JDS Uniphase Corp, Q2, 0.139,  L-3 Communications Holdings Inc, Q4, 2.121,  Marathon Petroleum Corp, Q4, 2.074,  MeadWestvaco Corp, Q4, 0.181,  Murphy Oil Corp, Q4, 1.344,  Northrop Grumman Corp, Q4, 1.736,  Owens-Illinois Inc, Q4, 0.365,  Phillips 66, Q4, 1.664,  QUALCOMM Inc, Q1, 1.125,  Rockwell Automation Inc, Q1, 1.254,  Southern Co/The, Q4, 0.39,  Wisconsin Energy Corp, Q4, 0.42 US Market News Sources suggest that the CEO at Chesapeake was forced out by Carl Icahn, Aubrey McClendon co-founded the company, the stock fell over 43% last year, the stock gained 9% after hours on the news Michael Dell is reportedly heading up a move to increase his 15% stake in Dell above 50% and to take the company private The CEO of Pfizer announces that it is looking at the possibility of splitting its branded medicines and generic products into separate businesses The US Senate has now backed Kerry to replace Hilary Clinton as Secretary of State Data out suggests that individual investors have been buying the market as $6.8bn moved into equity mutual funds in the first three weeks of 2013, the largest influx since 2001 US house prices have gained at the fastest rate since 2006 Google is reportedly close to allowing paid content to be shown through its YouTube service Overnight Market News Residents in Beijing have been told for the second day to stay indoors due to high levels of smog Economic Data Due 10:00 Eurozone January Consumer Confidence, -23.9 exp. -23.9 previous 13:30 US Q4 GDP 1.2% exp. 3.1% previous 19:15 US FOMC Rate Decision 0.25% exp. 0.25% previous Economic Events Monti speaks in Brussels US Interest Rates 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). 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 Regulatory Disclaimer This market commentary note (“note”) has been issued by Cantor Fitzgerald Europe (“CFE”), which is authorised and regulated by the Financial Services Authority (“FSA”). This note is defined by the FSA as a marketing communication. This note has been prepared and distributed for information purposes only and represents the personal views and opinions of the sender. This note is not “investment research”, a “research recommendation” or a product of the Research Department. Please be aware that the CFE Research Department may issue a formal recommendation and target price on the stocks mentioned, which may differ from the opinion given here.  This note may contain information obtained by CFE from third parties; the source of information will usually be disclosed.  CFE makes no representation and gives no warranty as to the accuracy or completeness of the contents of this note. Any person placing reliance upon this note does so at their own risk. Investors should consider this note as only a single factor in making their investment decision. The investment discussed in this note may be unsuitable for investors depending on their specific investment objectives and financial position. CFE, its officers, employees and affiliates 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 note or any reliance on this note. The recipient is strongly recommended to see independent legal, tax and financial advice. Past performance is not necessarily a guide to future performance. Income from investments may fluctuate The price or value of the investments to which this note relates; either directly or indirectly, may fall or rise against the interest of investors. This note should not be considered to be a solicitation nor an offer of advice for the purposes of the sale or purchase of any security, investment or derivative.  The information contained in this note is not intended to form the basis of any investment decision and should not be considered a recommendation by CFE or any other person in relation to any of the companies, stock, commodities, currencies or other markets mentioned / referred to in this note. All the information contained herein is based upon information available to the public and has been obtained from sources believed to be reliable. However, the information contained in this note has not been verified by CFE and CFE undertakes no obligation to provide recipients of this note with any additional information or any update to or correction of the information contained in this note. This note is provided by CFE and may be forwarded unamended and in its entirety. This note may not be used in whole or in part to create any other work. All rights reserved. Cantor Index is a trading name of (CFE). CFE is authorised and regulated by the FSA under Firm Reference Number 149380.   CFE - FSA Register Information: http://www.fsa.gov.uk/register/firmBasicDetails.do?sid=61341 Registered in England No. 02505767 Registered Address: 17 Crosswall, London, EC3N 2LB 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. 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. You should ensure you fully understand the risks and seek independent financial advice if in doubt. CFE provides an execution only service and does not offer investment advice. These products are not intended for people under the age of 18 or for US residents. The distribution of this note in other jurisdictions may be restricted by law and persons into whose possession this note comes should inform themselves about and observe any such restrictions. By accepting this note you agree to be bound by the foregoing instructions.

Click for more »

Gold Technical Analysis

Tuesday, January 29, 2013, Marketing Communication Gold, Monthly Please click on the graph above to open a larger image The monthly timescale naturally takes the long term view so the commentary in this section will only be updated as and when market events dictate. So regular readers of this report will only need to read the monthly and weekly sections on a relatively infrequent basis. However we include all the information to give new readers the full picture. The Monthly graph above shows the stellar performance of Gold over the past 25 years. From lows of under $300, at the start of the millennium, up to the highs above $1,900 posted late last year. This graph is all the more extraordinary as this is on a semi-log scale, which gives percentage gains the same scale on the Y axis. Detailing how the cumulative gains posted in recent years have kept pace with the early gains posted 2000-2002, and even accelerated higher, red lines. It has hard to imagine the longer term bulls getting too concerned while the price action remains well above major support areas. Leaving a positive long term outlook, with only a break under the 2012 lows negating this optimistic stance. Gold, Weekly Please click on the graph above to open a larger image The situation on the Weekly chart will also take some time to change greatly, so the text below may remain broadly same week to week unless major levels are broken. As with the monthly chart we will update the graph each week, and post all the text so that new readers will have all the information to hand. Over the Weekly timescale things are a little more interesting, on this graph we have thrown up a potential Elliot Wave Count. Elliot Waves can at times offer extremely attractive risk/reward forecasts, but due to the numerous ways any graph can be described with Elliott Waves we tend to stick with only the most basic of wave counts and stay away from the more complex wave formations. The moves from the 2008 lows do appear to be an impulse leg higher, from an ABC correction. Wave 3 of this impulse itself sub divides into an impulse wave, red letters, and the recent much publicised descending triangle pattern, red lines, could be described as a simple ABC correction. From this bullish leg. As a result a simplistic Elliot Count is seeing the recent price action as Waves 1 & 2 in a larger bullish leg higher. In order to negate this optimistic view Gold needs to drop back under the 2012 lows at 1500. As mentioned above Elliott Waves counts can be ambiguous, however interpretations from them are not, so while the count above is only one version it does help add some importance to the 2012 lows around $1500. In summary then the medium term confidence looks set to remain strong while this key support area holds. Gold, Daily Please click on the graph above to open a larger image Drilling down to the Daily chart we can see how following the sell-off through to May the price had rallied back to the February 2012 highs, a full 100% retracement. Since then it has posted a bearish trading range, red region, after a negative RSI divergence was posted, yellow lines. The recent price action has found some support the 50% area calculated from this move, and also has found support off the more medium term bullish trend line, lower black line. So in the near term gold has found support from major retracement and trend support areas, but it remains within a bearish phase, red region. Moves through the $1700 area needed to create more definitive buy on strength signals, while any failure to hold above the 50% level, and the medium term support, could quickly see losses down to the lower retracement zone and back down to the January lows. Current levels could be attractive for the short term buyers, expecting the 50% level to hold, with initial targets at $1700, but due to the bearish trend this would be attempting to forecast the end of the near term trading range, The more straightforward trade is to wait until the price moves to an extreme of this current trend. Then either buying on the strength that would occur on a break higher, or simply sell into the strength expecting the bearish trend to continue. Leaving a trading buy seen tempting for the active, while the more steadfast are expected to stand aside for now and buying on any strength through $1700. Contact Us For Spread Bet Sales:- 0044 (0) 207 894 8800 For CFD Sales/Traders:- 0044 (0) 207 894 8883 Email:- sales@cantorcapital.com Graphs Depending on your email settings the images contained in this note may not be downloaded correctly on the first viewing. To view a web version please click here, Web version. Graph images are created on Bloomberg, and remain under copyright to Bloomberg. Unsubscribing From E-mails If you would like to be removed from all Cantor Capital Commentary e-mails then please click on the ‘Update Preferences’ link on the header, or the ‘Edit your subscription’ link on the footer and select the ‘Unsubscribe’ link at the bottom of this page that appears. This will remove your e-mail from all Cantor Capital Commentary distribution lists. Regulatory Disclaimer This market commentary note (“note”) has been issued by Cantor Fitzgerald Europe (“CFE”), which is authorised and regulated by the Financial Services Authority (“FSA”). This note is defined by the FSA as a marketing communication. This note has been prepared and distributed for information purposes only and represents the personal views and opinions of the sender. This note is not “investment research”, a “research recommendation” or a product of the Research Department. Please be aware that the CFE Research Department may issue a formal recommendation and target price on the stocks mentioned, which may differ from the opinion given here.  This note may contain information obtained by CFE from third parties; the source of information will usually be disclosed.  CFE makes no representation and gives no warranty as to the accuracy or completeness of the contents of this note. Any person placing reliance upon this note does so at their own risk. Investors should consider this note as only a single factor in making their investment decision. The investment discussed in this note may be unsuitable for investors depending on their specific investment objectives and financial position. CFE, its officers, employees and affiliates 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 note or any reliance on this note. The recipient is strongly recommended to see independent legal, tax and financial advice. Past performance is not necessarily a guide to future performance. Income from investments may fluctuate The price or value of the investments to which this note relates; either directly or indirectly, may fall or rise against the interest of investors. This note should not be considered to be a solicitation nor an offer of advice for the purposes of the sale or purchase of any security, investment or derivative.  The information contained in this note is not intended to form the basis of any investment decision and should not be considered a recommendation by CFE or any other person in relation to any of the companies, stock, commodities, currencies or other markets mentioned / referred to in this note. All the information contained herein is based upon information available to the public and has been obtained from sources believed to be reliable. However, the information contained in this note has not been verified by CFE and CFE undertakes no obligation to provide recipients of this note with any additional information or any update to or correction of the information contained in this note. This note is provided by CFE and may be forwarded unamended and in its entirety. This note may not be used in whole or in part to create any other work. All rights reserved. Cantor Index is a trading name of (CFE). CFE is authorised and regulated by the FSA under Firm Reference Number 149380.   CFE - FSA Register Information: http://www.fsa.gov.uk/register/firmBasicDetails.do?sid=61341 Registered in England No. 02505767 Registered Address: 17 Crosswall, London, EC3N 2LB 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. 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. You should ensure you fully understand the risks and seek independent financial advice if in doubt. CFE provides an execution only service and does not offer investment advice. These products are not intended for people under the age of 18 or for US residents. The distribution of this note in other jurisdictions may be restricted by law and persons into whose possession this note comes should inform themselves about and observe any such restrictions. By accepting this note you agree to be bound by the foregoing instructions.

Click for more »

Day Ahead

Tuesday, January 29, 2013, Marketing Communication Cantor Opening Call The FTSE is seen opening up around 5-10 points higher today UK Corporate Announcements National Grid confirms its full year outlook as it sees a continued solid performance British Land details UK occupancy of 97.7% and that 62% of office developments have been pre-let, under offer PZ Cussons announces H1 revenues gained 0.2% to £414m and an adjusted EPS of 7.03p and that overall trading was in line Carpetright maintains its full year guidance as it announces Q3 sales which just beats the expectations Anglo American announces that it takes a $4bn charge from its Minas-Rio project UK Market News Press suggests that RBS is attempting to ‘claw back’ the shares award to Hourican, and reportedly the bank is close to a rate-rigging settlement, thought to be around £400m to US regulators and £100m to the FSA MPC Member David Miles states that he expects the growth in the UK economy to pick up but to remain under its normal cruising speed Cityam suggests that 3I is in talks to sell its 23% stake in Hyperion UK Analyst Upgrades Buy ARM, Positioned for Another Strong Year in 2013, BofA Says Glaxo Raised To Overweight From Equalweight At Barclays Invensys Pt Raised 4% To 350P At Exane; Kept At Neutral Investec Raised To Overweight At Morgan Stanley UK Analyst Cuts Carphone Warehouse Cut From Equalweight At Morgan Stanley Carphone Warehouse Cut To Underweight At Morgan Stanley Debenhams Cut To Equalweight Vs Overweight At Morgan Stanley Greene King Cut To Neutral Vs Buy At Goldman UK Insider Buying None Detailed UK Insider Selling None Detailed FTSE 100 Movers Major European Companies Reporting Investor AB, R, 10.455,  Koninklijke Philips Electronics NV, R, 1.156,  QIAGEN NV, Q4, 0.305,  Sandvik AB, R, 7.643,  Software AG, R, 2.119 European Market Summary Fiat is reportedly planning to launch an Alfa Romeo SUV in 2015 The ECB is seen rejecting an Irish plan to fund the rescue of Anglo Irish Bank for at least 15 years Italy sells €8.5bn in bills at €11:00 Moody’s announces that it keep its negative outlook on the Irish banking system Major US Stock Movers After Hours Yahoo gained 1.5% in late trading as it came in ahead of the forecasts on search demand VM Ware was the major faller off over 14% as it announces results under the forecasts and sees the macroeconomic headwinds continuing S&P 500 Companies Reporting ACE Ltd, Q4, 1.284,  Amazon.com Inc, Q4, 0.263,  Boston Properties Inc, Q4, 1.238,  Boston Scientific Corp, Q4, 0.11,  Broadcom Corp, Q4, 0.735,  Corning Inc, Q4, 0.324,  Danaher Corp, Q4, 0.856,  DR Horton Inc, Q1, 0.141,  Eli Lilly & Co, Q4, 0.788,  EMC Corp/MA, Q4, 0.523,  Ford Motor Co, Q4, 0.256,  Harley-Davidson Inc, Q4, 0.314,  Harris Corp, Q2, 1.194,  Illinois Tool Works Inc, Q4, 0.899,  International Paper Co, Q4, 0.648,  NextEra Energy Inc, Q4, 0.96,  Nucor Corp, Q4, 0.302,  Peabody Energy Corp, Q4, 0.264,  Pentair Ltd, Q4, 0.442,  Pfizer Inc, Q4, 0.442,  Robert Half International Inc, Q4, 0.408,  T Rowe Price Group Inc, Q4, 0.889,  Tyco International Ltd, Q1, 0.394,  United States Steel Corp, Q4, -0.768,  Valero Energy Corp, Q4, 1.19 US Market News Moody’s has cut its rating on six of the larger banks in Canada, over concerns on rising consumer debt and high house prices A Bloomberg survey has estimates that Bernanke’s latest round of bond buying will top $1.14tn before Q1 2014, at a rate of $40bn/month on mortgage bonds and $45bn/month of Treasuries Local press suggests that Legg Mason could pick a CEO tomorrow Overnight Market News India’s central bank has cut its benchmark repo rate to 7.75% from 8% and cuts the reserve ratio to 4% from 4.25% Beijing has urged its residents to stay indoors in order to avoid exposure to serious levels of air pollution Toyota has regained the top spot in the industry, selling 9.75m vehicles in 2012 The Shanghai Stock Index is now up 20% from the December lows, into bull market territory under some market classifications Economic Data Due 15:00 US January Consumer Confidence, 64.0 exp. 65.1 previous Economic Events EU's Barroso Speaks US Consumer Confidence 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). 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 Regulatory Disclaimer This market commentary note (“note”) has been issued by Cantor Fitzgerald Europe (“CFE”), which is authorised and regulated by the Financial Services Authority (“FSA”). This note is defined by the FSA as a marketing communication. This note has been prepared and distributed for information purposes only and represents the personal views and opinions of the sender. This note is not “investment research”, a “research recommendation” or a product of the Research Department. Please be aware that the CFE Research Department may issue a formal recommendation and target price on the stocks mentioned, which may differ from the opinion given here.  This note may contain information obtained by CFE from third parties; the source of information will usually be disclosed.  CFE makes no representation and gives no warranty as to the accuracy or completeness of the contents of this note. Any person placing reliance upon this note does so at their own risk. Investors should consider this note as only a single factor in making their investment decision. The investment discussed in this note may be unsuitable for investors depending on their specific investment objectives and financial position. CFE, its officers, employees and affiliates 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 note or any reliance on this note. The recipient is strongly recommended to see independent legal, tax and financial advice. Past performance is not necessarily a guide to future performance. Income from investments may fluctuate The price or value of the investments to which this note relates; either directly or indirectly, may fall or rise against the interest of investors. This note should not be considered to be a solicitation nor an offer of advice for the purposes of the sale or purchase of any security, investment or derivative.  The information contained in this note is not intended to form the basis of any investment decision and should not be considered a recommendation by CFE or any other person in relation to any of the companies, stock, commodities, currencies or other markets mentioned / referred to in this note. All the information contained herein is based upon information available to the public and has been obtained from sources believed to be reliable. However, the information contained in this note has not been verified by CFE and CFE undertakes no obligation to provide recipients of this note with any additional information or any update to or correction of the information contained in this note. This note is provided by CFE and may be forwarded unamended and in its entirety. This note may not be used in whole or in part to create any other work. All rights reserved. Cantor Index is a trading name of (CFE). CFE is authorised and regulated by the FSA under Firm Reference Number 149380.   CFE - FSA Register Information: http://www.fsa.gov.uk/register/firmBasicDetails.do?sid=61341 Registered in England No. 02505767 Registered Address: 17 Crosswall, London, EC3N 2LB 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. 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. You should ensure you fully understand the risks and seek independent financial advice if in doubt. CFE provides an execution only service and does not offer investment advice. These products are not intended for people under the age of 18 or for US residents. The distribution of this note in other jurisdictions may be restricted by law and persons into whose possession this note comes should inform themselves about and observe any such restrictions. By accepting this note you agree to be bound by the foregoing instructions. Download Graphs Depending on your email settings the images contained in this mail may not be downloaded correctly on the first viewing. If so please click here "Web version" to view a web version of this e-mail. Unsubscribing from E-mail Subscriptions If you would like to be removed from all Cantor Capital Commentary notes then please click on the ‘Update Preferences’ link on the header, or the ‘Edit your subscription’ link on the footer and select the ‘Unsubscribe’ link at the bottom of this page that appears. This will remove your e-mail from all Cantor Capital Commentary note distribution lists.

Click for more »