Day Ahead

Wednesday, March 6, 2013, Marketing Communication Cantor Opening Call The FTSE is seen opening around unchanged today after the Dow grabs the headlines yesterday by posting a fresh all time highs UK Corporate Announcements Admiral announces full year revenues of £2.22bn up 1% and a group pre-tax profit of £345m up 15% Legal & General reports a full year operating profit of £801m from £721m and lifts its dividend 20% to 7.65p share and states that the sluggish economy has had a minimal impact Melrose Industries details a full year pre-tax profit of £214.3m on revenues of £1.55bn, in line with the forecasts Lookers announces it expects to continue grow its business in 2013 and that the short term market conditions remain challenging International Personal Finance announces a full year pre-tax profit of £90.3m from £100.3m on revenues of £651m from £649m EasyJet details 12 month load factor in February of 88.2% from 87.8% with 4.11m passengers from 3.97m Dignity reports a full year pre-tax profit of £45.5m up from £40.3m and keeps its full year expectations unchanged, on revenues of £229m just ahead of the forecasts UK Market News The BRC has UK February food inflation down to a 5 month low Tesco announces it is to launch Clubcard TV where members of its Clubcard loyalty scheme can log in to a free internet TV service and watch television shows and movies tailored to the family, with targeted brand advertising based on users shopping habits The FSA has stated that it was slow on the Libor scandal London Capital Group has fallen back towards its all time lows as City Index announced yesterday it has no intention to make an offer, following similar statements made by Cantor Fitzgerald Europe and Gain Capital in recent days and LCG state that they no longer are in discussions with any party The confirmation will come this evening, however Easyjet is expected to be confirmed as a new entrant in the FTSE 100, replacing Intu Properties, also London Stock Exchange may have just moved enough yesterday to also qualify for automatic promotion, at the expense of Kazakhmys The UK government is expected to announce a crackdown on payday loan companies, but is expected to hold back on capping loan charges Regus’ chief is in the news as he publicly states that Marissa Meyer was ‘absolutely wrong’ to tell her home workers to return to the office, and that it was a backwards step Bowleven states that its IM-5 well significantly exceeds the expectations African Barrick Gold announces that its CFO is to resign FTSE 100 Dividends: BHP Billiton PLC, BLT, ($0.57),  CRH PLC, CRH, (€0.44),  Rio Tinto PLC, RIO, (60.34),  Shire PLC, SHP, (9.39),  TUI Travel PLC, TT/, (8.30) FTSE 250 Dividends: BlackRock World Mining Trust PLC, BRWM, (14),  Brewin Dolphin Holdings PLC, BRW, (3.60),  Direct Line Insurance Group PLC, DLG, (8),  Domino Printing Sciences PLC, DNO, (13.39),  Hays PLC, HAS, (.83),  Jupiter Fund Management PLC, JUP, (6.30),  Kier Group PLC, KIE, (21.50),  Murray Income Trust PLC, MUT, (7),  Oxford Instruments PLC, OXIG, (3.05),  Personal Assets Trust PLC/Fund, PNL, (140),  Renishaw PLC, RSW, (11.33),  Spirent Communications PLC, SPT, (1.21),  St Modwen Properties PLC, SMP, (2.42) FTSE Small Share: Centaur Media PLC, CAU, (.825),  Darty Plc, DRTY, (€0.00875),  Henderson Asian Growth Trust PLC, HAGT, (3.25),  Henderson Diversified Income Ltd, HDIV, (n/a),  Henderson Global Trust PLC/Fund, HGL, (2.50),  IRP Property Investments Ltd, IRP, (1.80),  JPMorgan European Investment Trust PLC, JETG, (1.15),  JPMorgan European Investment Trust PLC, JETI, (1.25),  JPMorgan Mid Cap Investment Trust PLC, JMF, (5.50),  Lavendon Group PLC, LVD, (2),  Primary Health Properties PLC, PHP, (9.50),  Ricardo PLC, RCDO, (4),  Ruffer Investment Company Ltd, RICA, (1.60),  Scottish American Investment Co PLC/fund, SCAM, (2.50),  Securities Trust of Scotland PLC, STS, (1.15),  SVM Global Fund PLC, SVG, (2),  Town Centre Securities PLC, TCSC, (7.34) UK Analyst Changes Anglo American Cut To Reduce Vs Neutral At Nomura Avocet Raised To Buy At Liberum Bunzl Raised To Neutral Vs Sell At Ubs Capita Pt Raised To 955P Vs 870P At Berenberg; Kept At Buy Gkn Raised To Neutral Vs Sell At Goldman Home Retail Cut To Neutral Vs Buy At Ubs Old Mutual Cut To Neutral Vs Buy At Ubs Taylor Wimpey Cut To Sell Vs Neutral At Citi Ubm Pt Raised To 835P Vs 670P At Berenberg; Kept At Buy William Hill Pt Raised To 460P Vs 410P At Morgan Stanley UK Insider Buying Jupiter Fund Managemen, (JUP), 1 insider(s) bought 3422 shares, £3.32 Lloyds Banking Group P, (LLOY), 1 insider(s) bought 80000 shares, £0.52 Ricardo Plc, (RCDO), 1 insider(s) bought 5000 shares, £3.97 Robert Walters Plc, (RWA), 1 insider(s) bought 10000 shares, £2.12 Tristel Plc, (TSTL), 1 insider(s) bought 6567 shares, £0.22 UK Insider Selling Guinness Peat Group Pl, (GPG), 1 insider(s) sold 5000000 shares, £0.33 Jupiter Fund Managemen, (JUP),  insider(s) sold 149729 shares, £3.31 Lavendon Group Plc, (LVD), 1 insider(s) sold 56983 shares, £1.74 Lxb Retail Properties, (LXB), 1 insider(s) sold 350000 shares, £1.18 Rolls-Royce Holdings P, (RR/),  insider(s) sold 68231 shares, £10.29 Sse Plc, (SSE), 1 insider(s) sold 15562 shares, £14.63 Tate & Lyle Plc, (TATE), 1 insider(s) sold 12100 shares, £8.18 Travis Perkins Plc, (TPK), 2 insider(s) sold 34856 shares, £12.8 FTSE 100 Movers Major European Companies Reporting Admiral Group PLC, R, 0.909,  Axel Springer AG, R, 2.538,  Henkel AG & Co KGaA, R, 3.672,  Legal & General Group PLC, R, 0.141,  Melrose Industries PLC, R, 0.16,  Ophir Energy PLC, R, -0.169,  SCOR SE, R, 2.24,  Valiant Holding, R, 7.28,  Verbund AG, R, 1.177Ashtead 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 Ikea is reportedly looking to launch its own range of budget hotels across Europe The EU Finance ministers have backed plans for a curb on banker bonuses as the UK manages to negotiate only minor amendments in a last minute deal The Belgian Finance Minister resigned late yesterday over the handling of a bank securities deal Fiat’s chief has urged the end to the ‘oppressive’ European austerity Germany sells €4bn in notes at 11:30 Major US Stock Movers After Hours Harvest Natural Resources gained 8% after hours, it has most of its principal operation in Venezuela and Russia, and rallied on the news of the death of Hugo Chavez Stereotaxis gained 12% as it announces that its CEO is to leave and that it is also in talks over product rights HealthSouth came off 9% as it announces that 4 hospitals have received subpoenas S&P 500 Companies Reporting Brown-Forman Corp, Q3, 0.699,  PetSmart Inc, Q4, 1.204,  Staples Inc, Q4, 0.446 US Market News The Dow will be the major focus ahead as it posted a fresh all time high yesterday at 14253, the highest close on the S&P was 1549 in 2007, it closed yesterday at 1539 The WSJ details that the US has now passed Saudi Arabia as the world’s largest producer of oil The FT suggests that the FBI and SEC are looking into allegations of possible market price manipulations by computerised traders Hugo Chavez has died following complications from his recent cancer surgery Overnight Market News Local press suggests that the Shanghai Futures Exchange could start after hours trading by the end of the year Sharp announces that it is to sell shares to Samsung for 10.4bn yen, ($105) as Samsung takes a stake in the loss making electronics maker Economic Data Due 10:00 Eurozone Q4 GDP, -0.6% exp. -0.6% previous 15:00 Bank of Canada Rate Announcement, 1.0% exp., 1.0% previous 15:00 US January Factory Orders, -2.2% exp. 1.8% previous Economic Events 09:45 Mervyn King and Andrew Bailey Speak in Parliament 19:00 US Federal Reserve Releases Beige Book Eurozone GDP 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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