Day Ahead

Tuesday, March 12, 2013, Marketing Communication

Cantor Opening Call The FTSE is seen opening around unchanged on the open today

UK Corporate Announcements Antofagasta announces full year net sales of $6.74bn from $6.08bn, with net profit down 17%, citing costs and impairment charges, but lifts its dividend payment Inchcape reports a full year pre-tax profit of £251.5m just ahead of the estimates of £248m on revenues of £6.1bn largely in line, and sees exciting growth prospects in emerging markets and states it sees a gradual recovery in the UK car industry in 2013 IG Group reports Q3 revenues gained 18% to £88.6m stronger than its guidance, and that operating costs had been ‘held in check’ and states that it is well positioned for growth Imagination Technologies states that royalty revenues are strong and in line with the expectations SDL states that the pipeline is strong and was giving confidence for 2013 as it details a full year pre-tax profit of £27.4m down 19% with revenues up 185 to £269.3m Computacenter announces a full year pre-tax profit of £71.3m on revenues of £2.91bn just under the estimates of £2.95bn and plans to return up to £75m Fresnillo states that it is to continue to focus on costs as it announces 2012 revenues of $2.16bn and an attributable profit of $736.09m

UK Market News Reuters suggests that RBS is looking at the possible listing of its business lending unit The RICS survey has house prices down again in February, while the FT suggests that a group of private equity companies are interested in Commerzbank’s UK property Lloyds Banking Group is to sell its 20% stake in St James Place HP states that UK SFO is looking into Autonomy

UK Analyst Changes Cobham Pt Raised To 195P Vs 175P At Morgan Stanley Icap Cut To Sell Vs Neutral At Ubs Tullett Prebon Cut To Sell Vs Neutral At Ubs

UK Insider Buying West African Minerals C, (WAFM), 1 insider(s) bought 500000 shares, £0.54 Energy Technique Plc, (ETQ), 1 insider(s) bought 50000 shares, £0.47 Goldplat Plc, (GDP), 1 insider(s) bought 145084 shares, £0.1 Acal Plc, (ACL), 1 insider(s) bought 4000 shares, £2.4

UK Insider Selling Hargreaves Lansdown Pl, (HL/), 1 insider(s) sold 333333 shares, £8.81

FTSE 100 Movers

Major European Companies Reporting Aryzta AG, S1, 1.51,  Enel Green Power SpA, R, 0.089,  Exor SpA, R, 2.875,  GEA Group AG, R, 1.665,  Helvetia Holding AG, R, 38.614,  Pirelli & C. SpA, R, 0.847

European Market Summary Greece remains locked in talks with international creditors about reducing the government workforce by enough to keep bailout funds flowing Italy’s central bank has asked some of its larger banks to increase their bad loans provisions by around €21bn Germany sells €1bn in bonds at 11:30 and Italy sells €7.75bn in 365 day bills, and Spain sells bills at 10:30

Major US Stock Movers After Hours IRobot gained 9% after hours as it lifts its Q1 forecasts and details that its CFO has quit Verifone announces that its CEO has quit, as it misses Q2 estimates, and the stock gained 6% on the news Yum Brands detailed that Q1 comparable sales fell in China fell 20%, less than the forecasts of 24.7%, and it gained 6% on the news Lakeland Industries was the major faller off 23% as it is in talks with lenders on a potential default

S&P 500 Companies Reporting Urban Outfitters, Q4, 0.573

US Market News Apple is now expected to detail what it plans to do with its cash hoard of $137bn by next month, with analysts stating that with a straight forward buy back there would seem to be a natural floor on the share price John Paulson is reportedly; looking at a possible move to Puerto Rico where a new law would remove taxes on gains from the $9.5bn he invested in his own hedge funds BlueCrest Capital Management the $35bn hedge fund started by Michael Platt states the it is planning a return to stocks and is to start hiring stock traders Mexico is seen overhauling its telecom industry by introducing new proposals to limit the control of Carlos Slim and Televisa

Overnight Market News Sources suggest that John Phizackerley has left Nomura Holdings as CEO of Europe, Africa and the Middle East Chinese authorities continue to check water quality levels in Shanghai after 3000 pig carcasses were found in the river

Economic Data Due 07:00 Germany January Trade Balance, £15.1bn exp. £12.0bn previous

Economic Events EU Foreign Ministers meet in Brussels

German 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 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.