Day Ahead

Friday, February 22, 2013, Marketing Communication Cantor Opening Call The FTSE is seen opening up around 25-30 points today, recouping some of yesterday’s moves UK Corporate Announcements Millenium & Copthorne announces full year pre-tax profit of £171m down 11.4% and details that revpar gained 3.9% over the period Armour Group states that the new financial year has started well Theo Fennel states that it remains in offer talks with EME UK Market News The UK Treasury Select Committee states that banks should have to pay much larger fines if they fail to co-operate with investigations The Bank of England’s Miles is in the press as he states that the bank should probably loosen policy to boost growth, and that QE could be raised by £175bn The Times suggest that fuel prices look set to move to record levels by Easter Bumi shareholders voted against Rothschild yesterday and may now separate itself off from the Bakrie family Mace the company behind the building of The Shard has been chosen to manage a £780m project to build the world’s largest tower in Saudi Arabia EBay’s PayPal unit is to launch its own chip and pin card reader to UK small business this year as it looks to get into the market ahead of interest from Square Inc and Intuit Inc Onexim sells 37.8% of Polyus Gold for $3.6bn The UK sells £2bn in bills at 11:10 UK Analyst Changes Antofagasta Raised To Outperform Vs Underperform At Rbc Csr Pt Raised 21% To 410P At Barclays, Stays Equalweight Drax Cut To Neutral Vs Buy At Goldman Fresnillo Rated New Sell At Socgen, Pt 1,200P Interserve Cut To Add Vs Buy At Westhouse UK Insider Buying Conygar Investment Co, (CIC), 1 insider(s) bought 40000 shares, £1.05 Green Compliance Plc, (GCO), 1 insider(s) bought 500000 shares, £0.02 UK Insider Selling Bank Of Georgia Holdin, (BGEO),  insider(s) sold 32727 shares, £13.87 Brammer Plc, (BRAM), 1 insider(s) sold 5500 shares, £3.4 Fidessa Group Plc, (FDSA), 1 insider(s) sold 1050 shares, £19.47 Fortune Oil Plc, (FTO), 1 insider(s) sold 478338 shares, £0.1 Lo-Q Plc, (LOQ), 3 insider(s) sold 330000 shares, £5 Rathbone Brothers Plc, (RAT), 2 insider(s) sold 17727 shares, £13.98 Reckitt Benckiser Grou, (RB/), 1 insider(s) sold 430 shares, £46.1 Rio Tinto Plc, (RIO),  insider(s) sold 11246 shares, £36.9 Synergy Health Plc, (SYR), 1 insider(s) sold 19493 shares, £10.2 FTSE 100 Movers Major European Companies Reporting Acciona SA, R, 2.741,  Air France-KLM, R, -2.32,  AP Moeller - Maersk A/S, R, 4189.68,  CNP Assurances, R, 1.571,  Fuchs Petrolub AG, R, 2.88,  Gecina SA, R, 4.923,  SES SA, R, 1.477,  Valeo SA, R, 4.957 European Market Summary Finmeccanica has delayed its 2012 full year results stating that it wanted to review the eventual effects of ‘important structural initiatives’ France is to freeze spending on higher education, research and defence in order to meet EU deficit targets this year The FT suggests that Bankia today is expected to announce the largest corporate loss in Spanish history Major US Stock Movers After Hours HP stated that PC deterioration has been worse than expected and that it is ready to ‘go after’ Dell’s customers during its LBO, but still gained 6% after hours, and announces Q1 revenues of $28.36bn ahead of the forecasts AIG gained as it detailed decent quarterly results and its CEO states that its dividend will depend on its ratings S&P 500 Companies Reporting Abercrombie & Fitch Co, Q4, 1.957,  Interpublic Group of Cos Inc/The, Q4, 0.521,  Monster Beverage Corp, Q4, 0.415,  Pinnacle West Capital Corp, Q4, 0.166,  Quanta Services Inc, Q4, 0.399,  Washington Post Co/The, Q4, 0 US Market News The VIX has closed up at its highest level for 2013 Ben Bernanke stated to bankers in recent days that the risks of the Fed creating asset bubbles was minimal KKR announces a $3.68bn move for Gardner Denver the industrial equipment maker, Gardner gained 5% after hours on the news Overnight Market News Singapore announced overnight that Q4 GDP gained 3.3% well ahead of the 2% expected Billabong takes a record loss of $583m as it writes down the value of its main brand, the stock fell 5% on the news and it remains the target of a couple of bids Japanese billionaire Kazuo Okada announces he has quite the board at Wynn Resorts ahead of a shareholder meeting tomorrow where he was expected to be ousted, after allegations he made illegal payments Economic Data Due 07:00 German GDP -0.6% previous 09:00 German February IFO Business Climate Economic Events EC Releases Economic Growth Forecasts German IFO Contact Us For Spread Bet Sales:- 0044 (0) 207 894 8800 For CFD Sales/Traders:- 0044 (0) 207 894 8883 Email:- sales@cantorcapital.com Commentary Is Changing Client Access:- From March 1st, CFE active clients will continue to receive our timely notes Free Access:- From March 1st, non CFE clients will receive delayed notes To continue accessing our timely commentary please contact us to open and fund a CFD or Spread Betting account Footnotes Cantor Call, as at 7:00am Analyst Changes, as at 6:45am Times given are UK Local Time, (GMT or GMT +1 during BST) 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% > -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”). Cantor Index is a trading name of CFE. 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. 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.