Day Ahead

Wednesday, January 9, 2013, Marketing Communication Cantor Opening Call The FTSE is called to open up around 10 points higher this morning UK Corporate Announcements Sainsbury announces Q3 total sales gained 3.9%, +0.9% ex fuel, largely in line and states that the challenging economic backdrop is to persist Galliford Try states that it remains on track to meet its full year expectations and that half year profit is ahead of its targets Greggs details that it sees its full year results broadly in line, and that the tough trading conditions have continued into 2013 Ted Baker states that it sees its full year pre-tax profit in line with the expectations Restaurant Group announces it plans to open 28-35 new sites in 2013 as 2012 LFL sales gained 4.5% with revenues up 9% Centamin announces full year production of 262.9 oz ahead of the forecasts of 250k seen, and up 30% Aviva details it sold its Delta Lloyd offering at €12.65/share, as it sells its 19.4% stake, with gross cash proceeds of £353m UK Market News The FT writes on how UK business leaders have warned David Cameron that he risks damaging the economy by taking Britain out of the EU if he does plan a renegotiation of membership Schroders details that it had dropped PWC as its auditor after 50 years and switches over to KPMG Shire’s CEO has stated that he is increasingly confident of double digit full year earnings growth and on meeting current consensus earnings expectations for 2013 FTSE 100 Dividends:- British Land, BLND, (6.6 gross) FTSE 250 Dividends:- Firstgroup PLC, FGP, (7.62),  Foreign & Colonial Investment Trust PLC, FRCL, (2),  Paragon Group of Cos PLC, PAG, (4.50),  Workspace Group PLC, WKP, (3.22 gross) FTSE Small Share:- Edinburgh Worldwide Investment Trust PLC, EWI, (1.50),  European Investment Trust PLC, EUT, (12),  European Investment Trust PLC, EUT, (4),  Majedie Investments PLC, MAJE, (6.30),  Smiths News PLC, NWS, (5.80),  Spirit Pub Co PLC, SPRT, (1.30),  Volex PLC, VLX, (.02) UK Analyst Upgrades Amec Raised To Buy From Neutral At Goldman Balfour Beatty Raised To Buy Vs Neutral At Bofaml GKN Raised To Buy Vs Neutral At Bofaml Lloyds Raised To Buy Vs Neutral At Ubs LXB Retail Cut To Neutral From Overweight At Jpmorgan Meggitt Raised To Buy Vs Neutral At Bofaml Robert Walters Pt Raised To 175P Vs 150P At Berenberg UK Analyst Cuts Derwent London Cut To Neutral From Overweight At Jpmorgan Europe Oil Services Cut To Neutral Vs Attractive At Goldman Petrofac Cut To Neutral From Buy At Goldman Rentokil Initial Cut To Sector Perform Vs Top Pick At Rbc Spectris Cut To Neutral Vs Buy At Citi UBM Exits Conviction Buy List At Goldman, Stays Buy UK Insider Buying None Detailed UK Insider Selling None Detailed FTSE 100 Movers Major European Companies Reporting None Detailed European Market Summary The FT writes that senior telecoms executives are discussing setting up a possible pan European infrastructure network to unite the current fragmented nature of the markets Bayer stats that it no longer plans to sell its diabetes unit, while Sanofi’s CEO flags up that it is targeting bolt-on acquisitions in the price range of €1-2bn Major US Stock Movers After Hours Global Payments saw some decent buying in late trading after an upgrade from JPMorgan, and gained 3% after hours S&P 500 Companies Reporting Constellation Brands Inc, Q3, 0.551 US Market News Clearwire announces that it has received an unsolicited offer from Dish at $3.30/share, it has already agreed to a buyout from its majority shareholder Sprint Nextel As feared it has been confirmed that Hugo Chavez is to ill to be able to attend his own swearing in for his new term as presidency, as he has asked for more time to recover from cancer surgery, yesterday its Supreme Court rejected a request requiring National Assembly President Diosdado Cabello to take power as a caretaker The Bank of Canada announces that as part of its search for a new governor it will accept applications from Canadian nationals, as its head is set to move over to the Bank of England this summer JP Morgan’s CEO Jamie Dimon has stated that some of the senior executives ‘acted like children’ in handling the ‘whale’ losses of 2012 and that some people attempted to personally take advantage of the event, and were willing to hurt the company in the process Apple CEO Tim Cook has made his second visit to China in 10 months as it looks to halt the recent decline in its share of the smartphone market Coco-Cola and Pepsico may be eyed after a report from the National Institute of Health finds that regular drinkers of diet sodas have a 30% higher risk of suffering from depression Traders will hope that Alcoa yesterday set the tone for the upcoming reporting season as it announces Q4 sales ahead of the forecasts and at higher than expected average selling prices Overnight Market News UBS has upgraded its stance on Macquarie Group to buy from neutral but does suggest the group would gain from selling, or closing, its underwriting and loss making securities businesses Ping an Insurance came off 2% overnight after reports that Chinese regulators may yet block the planned 15.6% purchase by Charoen Pokphand Panasonic still Japan’s largest consumer electronics maker states that it is in talks on closing some of its units, as it moves towards its second consecutive annual loss Economic Data Due 00:01 UK BRC Shop Price Index, 1.5% previous 09:30 UK November Visible Trade Balance, -£9,000 exp. Economic Events EU - Van Rompuy meets Irish officials in Dublin UK Trade Balance 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 Fitzgerald Europe is authorised and regulated by the FSA under Firm Reference Number 149380. Cantor Fitzgerald Europe - 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.