Day Ahead

Thursday, April 18, 2013, Marketing Communication Cantor Opening Call The FTSE is seen opening up around 10 points higher today UK Corporate Announcements Diageo reports Q3 organic net sales gained 4%, just under the forecasts of 5% seen, Debenhams announces H1 LFL sales gained 3.1% and a pre-tax profit of £120.3m GKN states that trading remains in line with its February prediction, as it details Q1 sales of £1.89bn from £1.74bn and that the restructuring charges are now ‘largely behind us’ Persimmon reports total forward sales of £1.38bn up 11% and states that it was encouraged by the UK budget measures to help housing Fresnillo announces that the outlook for the precious metals market remains challenging, and expects to meet its full year gold production targets Rexam reports that overall results have been in line with its expectations and that it is on track to meet its ROCE targets SABMiller announces Q4 organic lager volume gained 4%, ahead of the estimates of 2.5% seen with full year group revenues up 7% Devro stays confident on its growth targets and maintains its full year targets African Barrick Gold states that it has made a good start to 2013 UK Market News The G20 Finance Ministers meet in Washington today ahead of the IMF spring meeting, as the IMF states again that loose monetary policy could lead to credit bubbles and another global financial crisis and that the global economy faces a chronic crisis if reforms were not completed The SFO has demanded additional documents firm the law firms representing ENRC The UK sells £2.25bn in bonds at 10:30, Bank of Canada’s Carney is due to give an interview in Washington at 17:00 UK Analyst Changes Big Yellow Raised To Equalweight Vs Underweight: Morgan Stanley Csr Cut To Hold At Liberum Ds Smith Removed From Ubs’S Most Preferred List Smurfit Kappa Added To Ubs’S Most Preferred List William Hill Raised To Neutral Vs Underperform At Exane UK Insider Buying Greene King Plc, (GNK), 1 insider(s) bought 2000 shares, £6.7 Interquest Group Plc, (ITQ), 1 insider(s) bought 32258 shares, £0.6 Ironveld Plc, (IRON), 1 insider(s) bought 400000 shares, £0 Jubilee Platinum Plc, (JLP), 1 insider(s) bought 64444 shares, £0 London Capital Group H, (LCG), 1 insider(s) bought 50000 shares, £0.3 Panmure Gordon & Co Pl, (PMR), 1 insider(s) bought 200000 shares, £0.1 Revolymer Plc, (REVO), 1 insider(s) bought 49000 shares, £0.4 Sweett Group Plc, (CSG), 7 insider(s) bought 93334 shares, £0.2 UK Insider Selling Advfn Plc, (AFN), 1 insider(s) sold 1002044 shares, £0 Filtrona Plc, (FLTR), 1 insider(s) sold 23543 shares, £7 G4S Plc, (GFS),  insider(s) sold 400000 shares, £2.96 Goodwin Plc, (GDWN),  insider(s) sold 180000 shares, £20 Kingfisher Plc, (KGF), 2 insider(s) sold 1431215 shares, £2.93 Porvair Plc, (PRV), 2 insider(s) sold 346600 shares, £2.28 Travis Perkins Plc, (TPK), 1 insider(s) sold 3498 shares, £14.27 Xstrata Plc, (XTA), 1 insider(s) sold 23143 shares, £10.29 FTSE 100 Movers Major European Companies Reporting Akzo Nobel NV, Q1, 0.65,  Debenhams PLC, S1, 0.073,  Modern Times Group AB, Q1, 4.845,  Nokia OYJ, Q1, -0.043,  Sodexo, S1, 0,  Tele2 AB, Q1, 1.908,  Wartsila OYJ Abp, Q1, 0.401 European Market Summary Sources suggest that Telecom Italia is only in favour of letting Hutchison take a 10% stake of any combined carrier, less than the Hong Kong based telco wants Commerzbank is reportedly in talks with Lone Star and Wells Fargo about selling its Eurohypo unit, valued at around $6bn Lufthansa is facing possible strike action ahead as the Verdi union rejects as unacceptable the latest wage offer increase Forbes has Real Madrid as surpassing Manchester United as the world’s richest football club The Dutch regulator states that it finds no sign of a mortgage cartel amongst its lenders Spain sells bonds at 10:30, France at 10:50, and Ireland sells €500m in bills at 11:30 Global Intraday Footprint Major US Stock Movers After Hours Theravance gained 17% after hours as the FDA announced that its Breo treatment developed by it and Glaxo has been backed by FDA Advisors Core Labs announces Q1 EPS of just ahead of the forecasts and gained 4% in late trading Select Comfort came off 8% as it cuts its forecasts EBay slipped 2.7% after hours as it detailed Q1 EPS just ahead of the forecasts, on slightly lower revenues and also forecasted revenues for Q2 just worse than the current expectations S&P 500 Companies Reporting Advanced Micro Devices Inc, Q1, -0.173,  Amphenol Corp, Q1, 0.862,  AutoNation Inc, Q1, 0.635,  Baxter International Inc, Q1, 1.049,  BB&T Corp, Q1, 0.685,  Capital One Financial Corp, Q1, 1.624,  Chipotle Mexican Grill Inc, Q1, 2.125,  Danaher Corp, Q1, 0.763,  E*TRADE Financial Corp, Q1, 0.12,  Fifth Third Bancorp, Q1, 0.39,  Freeport-McMoRan Copper & Gold Inc, Q1, 0.773,  Google Inc, Q1, 10.684,  International Business Machines Corp, Q1, 3.062,  Intuitive Surgical Inc, Q1, 3.971,  KeyCorp, Q1, 0.195,  Microsoft Corp, Q3, 0.695,  Morgan Stanley, Q1, 0.56,  Nucor Corp, Q1, 0.274,  Omnicom Group Inc, Q1, 0.754,  Peabody Energy Corp, Q1, -0.143,  People's United Financial Inc, Q1, 0.183,  PepsiCo Inc, Q1, 0.708,  Philip Morris International Inc, Q1, 1.34,  PPG Industries Inc, Q1, 1.551,  Sherwin-Williams Co/The, Q1, 1.094,  Snap-on Inc, Q1, 1.342,  Union Pacific Corp, Q1, 1.96,  UnitedHealth Group Inc, Q1, 1.142,  Verizon Communications Inc, Q1, 0.655 US Market News Roper Industries announced yesterday that it is to acquire MHA in a cash deal valued at $1bn The US Senate has rejected the amendment to expand the background checks for guns with Obama calling it ‘a pretty shameful day for Washington’ An explosion at a fertiliser plant in Texas has killed a number of people, some reports have the toll as high as 60 Apple broke down to fresh 52 week lows yesterday, and traded under the $400 level intraday The WSJ suggests that Guggenheim Digital is in talk to take a stake in Vevo Overnight Market News Concerns in possible Chinese housing bubbles continue as prices in Guanzhou gained 11.1% from last year, to March, while Beijing gained 8.6% and Shanghai 6.4% A draft G20 document has the G20 pledging to affirm a commitment to avoid weakening currencies A Pakistani court has ordered the arrest of former president Musharraf and dismisses his bail application Top FX News The yen weakened a touch ahead of the G20 meeting as the markets price in that it will avoid explicit censure from the G20 meeting Top Commodity News Copper dropped below $7,000/ton yesterday for the first time in 18 months, after poor car sales data, and posting a breakdown comparable to those seen in gold in recent days Economic Data Due 09:30 UK March Retail Sales, 0.9% exp. 3.3% previous 13:30 US April Initial Jobless Claims, 346k previous 15:00 US March Leading Indicators, 0.1% exp. 0.5% previous Economic Events None Detailed UK Retail Sales 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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