Day Ahead

Tuesday, March 5, 2013, Marketing Communication Cantor Opening Call The FTSE is seen opening up around 30 points higher this morning UK Corporate Announcements Michael Page states that it sees another challenging year in 2013 and that it remains well positioned as it details a full year pre-tax profit of £57m down 33.8% Meggitt details a full year pre-tax profit of ££362.8m ahead of the estimates of £334m seen, on revenues of £1.61bn Serco Group states that it stays confident of further growth and continued resilience as it reports a 2012 operating profit of £287m up 8% on revenues of £4.91bn and states that it expects the US to remain very challenging in the short term Regus states that trading for the year was in line with the expectations, as it announces a full year pre-tax operating profit of £90.2m John Wood Group announces an adjusted full year pre-tax profit of $362m from $254m on revenues of $6.82bn and forecasts progress across its division in 2013 Ashtead reports a Q3 pre-tax profit of £53.8m from £20.6m on revenues of £333.9m from £271m and also lifts its full year profit targets Glencore announces a full year adjusted net profit of $3.06bn against the estimates of $3.14bn and states that it sees a global recovery under way, and sets an April 16 deadline for the merger completion with Xstrata Pace announces full year revenues of $2.4bn up 4.1% and an adjusted EBITA of $158.1m up 12% Xstrata announces a full year adjusted net income of $3.65bn, against forecasts of around $3.49bn seen, on revenues of $31.6bn down 7% and its CEO states that he was handing over a strong growth legacy Moneysupermarket details full year revenues of £204m from £181m and just ahead of the forecasts and keeps its full year targets unchanged Jardine Lloyd Thomas announces a full year pre-tax profit of £156.8m Rotork announces full year revenues gained 14.3% to £511.7m up 14.3% and stays confident on its prospects UK Market News Pearson’s CEO has reportedly told staff that there will be fewer jobs in the US and UK as the group focuses on emerging markets The FTSE Quarterly Review Committee will meet tomorrow evening and will use today’s closing prices for their calculations, currently EasyJet looks set to be promoted into the bluechip and replace John Wood Group, and follow the likes of Tui Travel which moved into the FTSE 100 in December Rolls Royce is in focus today as the BBC detailed yesterday that it announced £1.4bn in pre-tax profit in 2012 but paid no corporation tax Countrywide has set its IPO range between £2.60-3.50 10:30 UK to sell £4bn in Bonds UK Analyst Changes Debenhams Cut To Neutral Vs Buy At Citi Debenhams PT Reduced to 80p vs 95p at Cantor Fitzgerald Dewhurst PT Set at 380p at Cantor Fitzgerald; Kept at Buy Hilton Food Cut To Hold Vs Add At Numis Intertek PT Raised to 3,350p vs 2,750p at Cantor Fitzgerald Man Group Cut To Underperform Vs Hold At Jefferies Millennium & Copthorne Cut to Neutral vs Overweight at JPMorgan Rentokil Cut To Neutral Vs Outperform At Credit Suisse Wpp Cut To Sell Vs Hold At Berenberg UK Insider Buying Dialight Plc, (DIA), 2 insider(s) bought 3000 shares, £12.42 Genel Energy Plc, (GENL), 1 insider(s) bought 30100 shares, £7.72 Guinness Peat Group Pl, (GPG), 1 insider(s) bought 150000 shares, £0.33 Pan African Resources, (PAF), 2 insider(s) bought 225000 shares, £0.16 Ricardo Plc, (RCDO), 1 insider(s) bought 5000 shares, £3.97 Robert Walters Plc, (RWA), 1 insider(s) bought 10000 shares, £2.13 Shaftesbury Plc, (SHB), 1 insider(s) bought 8000 shares, £5.81 Tristel Plc, (TSTL), 1 insider(s) bought 6567 shares, £0.23 UK Insider Selling Bunzl Plc, (BNZL),  insider(s) sold 33677 shares, £12.66 Capita Plc, (CPI), 1 insider(s) sold 15940 shares, £8.44 Gulf Keystone Petroleu, (GKP),  insider(s) sold 1268219 shares, £1.88 Lancashire Holdings Lt, (LRE), 1 insider(s) sold 44975 shares, £9.17 Lavendon Group Plc, (LVD), 1 insider(s) sold 56983 shares, £1.75 Rolls-Royce Holdings P, (RR/), 3 insider(s) sold 290650 shares, £10.17 Sse Plc, (SSE), 1 insider(s) sold 15562 shares, £14.63 FTSE 100 Movers Major European Companies Reporting Ashtead Group PLC, Q3, 0.042,  ASM International NV, R, 0.662,  Beiersdorf AG, R, 2.131,  Deutsche Post AG, R, 1.273,  EDP - Energias de Portugal SA, R, 0.285,  Elekta AB, Q3, 1.083,  GAM Holding AG, R, 0.87,  Glencore International PLC, R, 0.475,  Groupe Bruxelles Lambert SA, R, 4.153,  Jardine Lloyd Thompson Group PLC, R, 0.49,  John Wood Group PLC, R, 0.839,  Meggitt PLC, R, 0.343,  Michael Page International PLC, R, 0.139,  OC Oerlikon Corp AG, R, 0.674,  Paddy Power PLC, R, 2.476,  Pargesa Holding SA, R, 3.905,  Rotork PLC, R, 1.101,  RWE AG, R, 4.076,  Serco Group PLC, R, 0.406,  Standard Chartered PLC, R, 2.15,  Topdanmark A/S, R, 129.933,  Xstrata PLC, R, 1.163 European Market Summary Euro area ‘Troika’ bailout negotiators head to Cyprus today to continue their rescue talks, while EU finance ministers yesterday suggested possible looser budget policies after the Italian and Greek elections indicate that while the stronger option is preferred it cannot be implemented without an effective government The Telegraph suggest that talks between the UK government and EDF Energy on the building of a new nuclear plant in the UK could fall apart within the next few weeks as arguments remain on the amount of subsidies EU Economic and Monetary Affairs Commissioner states that EU finance ministers next month could commit to giving Ireland and Portugal more time to repay its loans Latvia has now officially applied to enter the Eurozone, looking to become the 18th country to adopt the euro Ireland is looking to gain support from the other EU nations today for draft rules on bank capital requirements,  including those on bonuses opposed by the UK, as EU-27 Finance Ministers meet again today Greece sells €875m in bills at 11:00 and the ESM sells €2bn in bills at 12:30 Major US Stock Movers After Hours Compuware gained 5% after reports that it is attracting private equity interest American Apparel gained 15% after hours as it announced Q4 revenues of $173m, largely in line but also lifts its full year outlook S&P 500 Companies Reporting None Detailed US Market News Tribune is reportedly looking to sell all of its newspaper titles in a single deal Fitch has amended its rating on California to positive from stable Lockheed Martin has regained a $1.38bn contract from the US Navy for two more steel monohull combat ships, and ahead of rival interest from Raytheon and Boeing Citigroup suggests that the global watch market in 2013 is worth $60bn and that a possible iWatch from Apple could generate more profits than the much hyped Apple television While The Independent newspaper writes that Warren Buffet has advised Apple’s Tim Cook to ignore calls from the likes of David Einhorn to return some of its $137bn cash pile Overnight Market News The Australian Central Bank as expected has left interest rates unchanged at 3% Chinese premier Jiabao states that the country lacks a sustainable growth model and faces mounting social problems in his final report to the National People’s Congress Economic Data Due 09:00 Eurozone February PMI Services, 47.3 exp. 47.3 previous 09:30 UK February PMI Services, 51.3 exp. 51.5 previous 10:00 Eurozone January Retail Sales, 0.2% exp. -0.8% previous 15:00 US February Non Manufacturing ISM, 55.0 exp. 55.2 previous Economic Events EU-27 Finance Ministers Meet in Brussels Eurozone January Retail Sales 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). 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