Day Ahead

Wednesday, April 10, 2013, Marketing Communication Cantor Opening Call The FTSE is seen opening around unchanged on the open today UK Corporate Announcements WS Atkins states that it has traded well overall in Q4 and now expects to report its full year ahead of the market expectations Dunelm Group announces Q3 LFL sales gained 5.2% well ahead of the 3.3% expected but states it sees LFL sales growth harder to achieve for the rest of the year Halfords states it sees a pre-tax profit of £68-72m forthe full year, with 11 week group revenues up 1.7% Vedanta Resources reports full year oil and gas production gained 19% UK Market News The newly formed FCA is to investigate the technology failures at RBS which caused disruption to payments of its customers, particularly at its Ulster Bank unit in the summer last year ASDA announces that it has recalled some budget corned beef lines after low levels  of veterinary medicine ‘bute’ was found, in lines which had previously been found to contain some horsemeat FTSE 100 Dividends: GKN PLC, GKN, (4.80),  IMI PLC, IMI, (20.70) FTSE 250 Dividends: Amlin PLC, AML, (16.50),  BBA Aviation PLC, BBA, ($0.1045),  Berendsen PLC, BRSN, (17.50),  Bodycote PLC, BOY, (8.30),  Dialight PLC, DIA, (9.50),  F&C Commercial Property Trust Ltd, FCPT, (n/a),  Filtrona PLC, FLTR, (8.60),  Herald Investment Trust PLC, HRI, (1),  James Fisher & Sons PLC, FSJ, (11.83),  JPMorgan American Investment Trust PLC, JAM, (7.50),  Merchants Trust PLC/The, MRCH, (5.80),  Rotork PLC, ROR, (26.60),  RPS Group PLC, RPS, (3.34),  Savills PLC, SVS, (6),  Savills PLC, SVS, (6.70),  St James's Place PLC, STJ, (6.39),  Ultra Electronics Holdings PLC, ULE, (27.80) FTSE Small Share Dividends: Charles Taylor PLC, CTR, (6.75),  Chesnara PLC, CSN, (11.25),  Edinburgh UK Tracker Trust PLC, EUK, (6.85),  Henderson High Income Trust PLC, HHI, (2.075),  LSL Property Services PLC, LSL, (6.40),  Manchester & London Investment Trust PLC, MNL, (5.50),  Middlefield Canadian Income PCC, MCT, (1.25),  Schroder Oriental Income Fund Ltd, SOI, (2.95g),  St Ives PLC, SIV, (2) UK Analyst Changes Az Electronic Raised To Buy Vs Neutral At Ubs Easyjet Raised To Buy Vs Neutral At Citi Spaceandpeople Pt Raised To 140P Vs 110P At Cantor; Kept At Buy UK Insider Buying Heavitree Brewery Plc, (HVTA), 2 insider(s) bought 8974 shares, £1.75 Micro Focus Internatio, (MCRO), 1 insider(s) bought 8000 shares, £6.53 Mulberry Group Plc, (MUL), 1 insider(s) bought 5000 shares, £9.75 Rolls-Royce Holdings P, (RR/), 6 insider(s) bought 1012 shares, £10.92 Soco International Plc, (SIA), 1 insider(s) bought 3057 shares, £3.75 Stagecoach Group Plc, (SGC), 1 insider(s) bought 3849 shares, £2.96 Stv Group Plc, (STVG), 1 insider(s) bought 8490 shares, £1.35 Tristel Plc, (TSTL), 4 insider(s) bought 371410 shares, £0.2 Vesuvius Plc, (VSVS), 1 insider(s) bought 7812 shares, £3.38 Vitec Group Plc/The, (VTC), 1 insider(s) bought 25000 shares, £6.35 UK Insider Selling Amec Plc, (AMEC),  insider(s) sold 61515 shares, £10.52 Atkins (Ws) Plc, (ATK), 1 insider(s) sold 3206 shares, £8.78 Beazley Plc, (BEZ), 1 insider(s) sold 29600 shares, £2.1 Brooks Macdonald Grou, (BRK), 1 insider(s) sold 4054 shares, £14.3 Bunzl Plc, (BNZL), 4 insider(s) sold 149422 shares, £12.83 Micro Focus Internatio, (MCRO), 1 insider(s) sold 8000 shares, £6.53 Rathbone Brothers Plc, (RAT), 1 insider(s) sold 2000 shares, £14.66 Raven Russia Ltd, (RUS),  insider(s) sold 785000 shares, £0.7 Stv Group Plc, (STVG), 2 insider(s) sold 17743 shares, £1.33 Weir Group Plc/The, (WEIR), 1 insider(s) sold 1000 shares, £22.78 FTSE 100 Movers Major European Companies Reporting Gerresheimer AG, Q1, 0.35,  Vedanta Resources PLC, R, 1.394 European Market Summary Repsol is in the news as it spills 6, 600 gallons of oil at the Colville River in Alaska Norway’s central bank chief stated that it avoided the fate of other commodity economies due to its predictable monetary policy and its SWF that invests its energy wealth offshore George Soros has again urged Germany to allow Eurobonds Major US Stock Movers After Hours Health Management came off 11% as it announced Q1 results under the forecasts Seachange also slipped 10% as it reported Q1 operating EPS under the estimates PriceSmart moved up 4% in late trading as it reported a quarterly EPS of 82c against forecasts of 77c seen S&P 500 Companies Reporting Bed Bath & Beyond Inc, Q4, 1.681,  CarMax Inc, Q4, 0.455,  Constellation Brands Inc, Q4, 0.447,  Family Dollar Stores Inc, Q2, 1.22,  Fastenal Co, Q1, 0.37 US Market News The Dow nudged up to fresh all time highs yesterday Herbalife announces that KPMG is to resign as its auditor after the chief of its Loas Angeles practice was found guilty of insider trading, with reports that the SEC is to look further into KPMG’s role Bill Gross has lifted the holdings of Treasuries at Pimco to the highest level since July last year, up to 33%, up from 28%, and has cuts its mortgage holdings to 33% from 36% The EU has started an antitrust investigation into Mastercard on fears some of its interbank fees are anticompetitive Overnight Market News Fitch has cut the debt rating of China to A+ from AA- citing the increasing debt issues, and the first rating agency cut since 1999 BHP states that it sees China growth trending down towards 6% after two years US hedge fund Hayman Advisors suggest that the recent Japanese bondholder reaction to the additional round of stimulus could be followed by a broader selloff, as prices moved to a record high in recent days Chinese exports to Hong Kong have gained 92.9% in a year continuing concerns on the reliability of general export data, on fears companies file false customs declarations Reuters writes on how the Karachi Stock Exchange has been buoyed by the governments amnesty on ‘Black money’ where the government allows previously undisclosed assets to be freely invested on the exchange Malaysia sets its General Election date for May 5th FX News Australia’s Treasurer states that the Aussie dollar continues to ‘defy gravity’ as it has gained 43% over the past four years and forces the government to back away from previous pledges to return the budget to surplus Top Commodity News Bloomberg details how a furnished two bedroom apartment in Port Headland, Australia, the largest bulk export terminal on Australia’s north western coast rents for close to a three bedroom penthouse in Manhattan as the local real estate market has gained 20% a year for the past decade buoyed by the mining industry demand Economic Data Due 19:00 US March Monthly Budget Statement Economic Events IMF's Lagarade speaks at Economic Club in New York 19:00 US Fed Meeting Minutes President Obama sends 2014 Budget to Congress US March Monthly Budget Statement CFD Sales/Traders 0044 (0) 207 894 8883 cfdsales@cantor.com Equity Spread Bet Sales 0044 (0) 207 894 8800 sales@cantorcapital.com Footnotes Cantor Call, as at 6:45am Analyst Changes, as at 6:30am 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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