Day Ahead

Friday, January 11, 2013, Marketing Communication Cantor Opening Call The FTSE is called to open up 10-15 points UK Corporate Announcements Tullow Oil states that production averaged at 79.2b/d in 2012 and sees 2013 up to 86-92k b/d Laird states that it is well placed to meet the full year expectations Mecom states that the full year is expected to be in line with guidance Aga Rangemaster announces that the year finished well and sees full year profit ahead of last year Theo Fennell states that it remains in offer talks with Eme with and warns that it had a disappointing Christmas with a lack of footfall and sees its full year results materially below expectations Moneysupermarket states that trading in Q4 has been satisfactory Stanley Gibbons announces that full year profitability will be in line with the expectations UK Market News Academetrics states that UK house prices may gain moderately in 2013 The Times writes that the Germans have told the UK that there will be no new deal on Europe Chemring will be eyed after press details market talk of possible M&A activity The Telegraph writes that pressure has been building on two senior executives at RBS to step down and pay back as much as £15m over the alleged Libor manipulations at the bank, while the bank also is reportedly looking to help fund half of its Libor regulated penalty from the 2012 bonus pool of its investment bankers The FT details how hostile takeovers have fallen to a decade low The UK is due to sell £2.5bn in Bills at 11:10 UK Analyst Upgrades Bunzl Raised To Neutral From Sell At Goldman Morrison Reinstated Buy at BofAML Tesco Reinstated Neutral at BofAML UK Analyst Cuts Associated British Foods Cut To Neutral Vs Buy At Bofaml BHP Billiton (London Listed) Cut From Neutral At Bofaml International Personal Finance Cut To Hold Vs Buy At Berenberg Sainsbury Reinstated Underperform at BofAML UK Insider Buying None Detailed UK Insider Selling None Detailed FTSE 100 Movers Major European Companies Reporting None Detailed European Market Summary The EU’s competition chief states that UPS’ planned purchase of TNT poses serious competition problems that are not easy to resolve The European Parliament’s chief negotiator has stated that lawmakers will not ‘cave in’ to pressure from governments to scrap a proposed ban on bankers getting bonuses worth more than double their salaries Italy sells up to €3.5bn in Bonds at 11:00 Major US Stock Movers After Hours Infosys the US and Indian listed IT group has gained 10% after hours, as it lifts its sales forecasts to at least 407bn rupees Volt Information comes off 2% as it announces it was settling with the SEC over allegations that it misstated its revenues S&P 500 Companies Reporting Walgreen Co, Q1, 0.684 US Market News American Express announces it is to make an additional 5,400 in job cuts, and take $600m in charges The US defence sector is in focus as The Pentagon states that it was authorising steps which would include freezing civilian hiring The EU’s Almunia has stated that it was his ‘conviction’ that Google was diverting search traffic to its own services, and indicates the search engine giant needs to do more to avoid additional investigations Filings show that Bill Gross lifted holdings of US Treasuries to 26% in December, the highest level since July and mortgages remain his largest holding at 44% and focuses on the shorter end that is more supported by the ongoing central bank policies Overnight Market News Japanese markets gained after the yen has weakened on the government detailing additional stimulus measures, spending an additional $116bn to drive the recovery in the economy The Bank of Korea has left its interest rates unchanged at 2.75% as expected China’s inflation has moved up to a seventh month highs to 2.5% and ahead of the forecasts, as the colder winter forced up the price of vegetables, this increased in inflation lowers the outlook for additional policy loosening, which caused some selling equity markets Economic Data Due 00:01 UK December GfK Consumer Confidence, -26 exp. -22 previous 09:30 UK Q3 GDP, 1.0% exp. 1.0% previous 13:30 US November Personal Income, 0.3% exp. 0.0% previous 13:30 US November Durable Goods Orders, 1.0% exp. 0.0% previous 14:45 US Uni. of Michigan Confidence, 75.0 exp. 74..5 previous Economic Events EU-Russia Summit in Brussels US Monthly Budget Statement 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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