Day Ahead

Wednesday, April 24, 2013, Marketing Communication Cantor Opening Call The FTSE is seen opening up around 20 points higher today UK Corporate Announcements Reed Elsevier states that Q1 underlying growth has been in line with the 2012 full year and that the outlook for the macro environment for 2013 is mixed Standard Life states that the pipeline of institutional business is strong and its 3rd party assets under management gained 9% to £90.4bn Bodycote announces 3 month revenues of £156m up 3.9% and details that Q1 revenues were in line with the expectations and sees modest progress ahead in 2013 Virgin Media reports Q1 revenues of £1.04bn largely in line with the forecasts buoyed by new internet users Barclays reports a Q1 adjusted pre-tax profit of £1.78bn against the forecasts of £2.1bn and states that its good start to the year has continued into Q2 UBM announces Q1 revenues of £194.7m down 7.9% and operating profit of £35m from £46m and states that forward bookings were in line with the expectations GlaxoSmithKline is due to update on Q1 at 13:00, with an EPS of £0.25 seen DS Smith announces that it sees its full year EPS towards the higher end of the current expectations N Brown details that it stays confident on its full year outlook although it sees the market conditions as staying challenging Pace states that it has made an encouraging start to the financial year and sees 2013 broadly in line UK Market News The Bank of England has expanded its funding for lending as it cites funding cost risks According to the FT the Lloyds planned sale of 600 branches to the Co-operative Group has collapsed as the Co-Op yesterday pulled the plug on the move, Lloyds may now have to push through a rushed flotation of the unit to meet the Brussels deadline to offload the branches by the end of 2013 The Telegraph suggest that around 20% of the Equitable Life policy holders will not be paid The chief of ENRC resigned yesterday as the controversy around the corporate governance at the mining group continues The UK sells £1.3bn in Bonds at 12:30 FTSE 100 Dividends: Aggreko PLC, AGK, (15.63),  Centrica PLC, CNA, (11.78),  Legal & General Group PLC, LGEN, (5.69),  Old Mutual PLC, OML, (5.25),  Rexam PLC, REX, (10.20),  Rolls-Royce Holdings PLC, RR/, (11.90),  Tesco PLC, TSCO, (10.13) FTSE 100 Dividend Impact: 9.2 points FTSE 250 Dividends: Balfour Beatty PLC, BBY, (8.50),  Drax Group PLC, DRX, (10.90),  Greggs PLC, GRG, (13.50),  Hansteen Holdings PLC, HSTN, (2.70),  Informa PLC, INF, (12.50),  International Public Partnerships Ltd, INPP, (3),  Intu Properties PLC, INTU, (10g),  Kazakhmys PLC, KAZ, ($0.08),  Kentz Corp Ltd, KENZ, ($0.09),  Man Group PLC, EMG, (8.26),  National Express Group PLC, NEX, (6.60),  Playtech Ltd, PTEC, (€0.154g),  Rathbone Brothers PLC, RAT, (30),  Tullett Prebon PLC, TLPR, (11.25),  UBM PLC, UBM, (20g) FTSE Small Share: Aberdeen Asian Income Fund Ltd, AAIF, (1.80),  Carr's Milling Industries PLC, CRM, (7.75),  City Merchants High Yield Trust Ltd, CMHY, (2.50),  City Natural Resources High Yield Trust PLC, CYN, (.86),  Fiberweb PLC, FWEB, (2.20),  Impax Environmental Markets PLC, IEM, (.90),  Invesco Perpetual UK Smaller Companies Investment Trust PLC, IPU, (4.40),  Lookers PLC, LOOK, (1.55),  North American Income Trust PLC, NAIT, (13),  Xchanging PLC, XCH, (1) UK Analyst Changes Bae Systems Cut To Equalweight Vs Overweight At Barclays Iag Raised To Hold Vs Sell At Liberum UK Insider Buying Anglo Pacific Group Pl, (APF), 1 insider(s) bought 5600 shares, £2.21 Cls Holdings Plc, (CLI), 1 insider(s) bought 173 shares, £8.8 Pittards Plc, (PTD), 1 insider(s) bought 100000 shares, £0.02 Ruspetro Plc, (RPO), 1 insider(s) bought 30000 shares, £0.33 Shanta Gold Ltd, (SHG), 1 insider(s) bought 100000 shares, £0.14 Share Plc, (SHRE), 1 insider(s) bought 878000 shares, £0.23 Wessex Exploration Plc, (WSX), 3 insider(s) bought 5029334 shares, £0.01 UK Insider Selling Boot (Henry) Plc, (BHY), 1 insider(s) sold 7300 shares, £1.72 Devro Plc, (DVO), 1 insider(s) sold 20000 shares, £3.06 Hargreaves Lansdown Pl, (HL/), 1 insider(s) sold 10000 shares, £9.7 Intercontinental Hotel, (IHG), 1 insider(s) sold 70000 shares, £18.59 Prezzo Plc, (PRZ),  insider(s) sold 350000 shares, £0.93 Share Plc, (SHRE),  insider(s) sold 878000 shares, £0.23 FTSE 100 Movers Major European Companies Reporting ABB Ltd, Q1, 0.32,  Assa Abloy AB, Q1, 3.083,  Barclays PLC, Q1, 0,  Credit Suisse Group AG, Q1, 0.854,  Daimler AG, Q1, 0.71,  Ebro Foods SA, Q1, 0.22,  Elan Corp PLC, Q1, -0.021,  Eni SpA, Q1, 0.428,  GlaxoSmithKline PLC, Q1, 0.25,  Heineken Holding NV, Q1, 0,  Heineken NV, Q1, 0,  Holmen AB, Q1, 0.713,  Husqvarna AB, Q1, 1.01,  Iberdrola SA, Q1, 0.14,  Jeronimo Martins SGPS SA, Q1, 0.123,  Konecranes OYJ, Q1, 0.273,  Neste Oil OYJ, Q1, 0.278,  Nordea Bank AB, Q1, 0.185,  Norsk Hydro ASA, Q1, 0.231,  Novartis AG, Q1, 1.265,  Snam SpA, Q1, 0,  Storebrand ASA, Q1, 0.768,  Svenska Handelsbanken AB, Q1, 5.102,  Telefonaktiebolaget LM Ericsson, Q1, 0.648,  Trelleborg AB, Q1, 1.608,  Viscofan SA, Q1, 0.51,  Wincor Nixdorf AG, Q2, 0.66,  Zodiac Aerospace, S1, 3.03 European Market Summary Etisalat announces that it has made a binding offer for 53% of Vivendi’s stake in Maroc European carmakers will be eyed today as the likes of Peugeot and Daimler report, with Daimler trimming its 2013 EBIT targets Ericsson today announces Q1 net profit of Sek1.21bn well under the forecasts of Sek 1.78bn seen as the largest maker of wireless network gear cited additional competition from Asian rivals Italy sells €3bn in bonds at 11:00 and Germany sells €2bn at 11:30 Global Intraday Footprint Major US Stock Movers After Hours Apple gained 4.5% after hours despite announcing Q3 revenues under the consensus as it boosts its share buyback program and increases its dividend, S&P has placed the company on AA+ with a stable outlook Yum Brands gained 6% as it detailed a Q1 EPS of $0.70 well ahead of the forecasts of $0.60 citing strength in its Taco Bell stores IRobot Corp gained 16% as the domestic and battlefield robot maker announced strong Q1 revenues and guided higher in Q2 Edwards Lifesciences came off 15% as it reported disappointing results and cuts its outlook for the full year citing sluggish global demand Juniper fell 6% as it detailed Q2 EPS numbers under the consensus on networking sales, and its moves pulled down the likes of JDS Uniphase and Cisco after hours S&P 500 Companies Reporting Aflac Inc, Q1, 1.622,  Akamai Technologies Inc, Q1, 0.464,  Allegheny Technologies Inc, Q1, 0.162,  Assurant Inc, Q1, 1.54,  Avery Dennison Corp, Q1, 0.576,  Boeing Co/The, Q1, 1.487,  Cabot Oil & Gas Corp, Q1, 0.231,  Citrix Systems Inc, Q1, 0.629,  Cliffs Natural Resources Inc, Q1, 0.32,  Corning Inc, Q1, 0.238,  Crown Castle International Corp, Q1, 0.071,  Dr Pepper Snapple Group Inc, Q1, 0.463,  Eli Lilly & Co, Q1, 1.048,  EMC Corp/MA, Q1, 0.396,  Equifax Inc, Q1, 0.865,  F5 Networks Inc, Q2, 1.064,  Flowserve Corp, Q1, 1.953,  Ford Motor Co, Q1, 0.377,  General Dynamics Corp, Q1, 1.497,  Hershey Co/The, Q1, 1.039,  Hess Corp, Q1, 1.564,  Lam Research Corp, Q3, 0.366,  Life Technologies Corp, Q1, 1.053,  Lorillard Inc, Q1, 0.635,  LSI Corp, Q1, 0.119,  Motorola Solutions Inc, Q1, 0.665,  NASDAQ OMX Group Inc/The, Q1, 0.623,  Newfield Exploration Co, Q1, 0.432,  Northrop Grumman Corp, Q1, 1.736,  O'Reilly Automotive Inc, Q1, 1.349,  Praxair Inc, Q1, 1.384,  Procter & Gamble Co/The, Q3, 0.956,  Prologis Inc, Q1, 0.402,  QUALCOMM Inc, Q2, 1.167,  Rockwell Automation Inc, Q2, 1.286,  Southern Co/The, Q1, 0.498,  Sprint Nextel Corp, Q1, -0.331,  Stericycle Inc, Q1, 0.883,  Stryker Corp, Q1, 1.01,  TE Connectivity Ltd, Q2, 0.721,  Teradyne Inc, Q1, 0.029,  Thermo Fisher Scientific Inc, Q1, 1.289,  Varian Medical Systems Inc, Q2, 1.018,  Waste Management Inc, Q1, 0.411,  Western Digital Corp, Q3, 1.772,  Whirlpool Corp, Q1, 1.926,  Wyndham Worldwide Corp, Q1, 0.666,  Xilinx Inc, Q4, 0.444 US Market News The US markets posted sharp intraday moves around 18:00 yesterday, with the Dow trading down 120 points in a matter of seconds after an erroneous tweet from the Associated Press that there had been explosions at the Whitehouse and that president Obama had been hurt, the markets quickly recovered but keeps concerns high for potential market flash crashes, and also raises concerns on the security of media agencies' Twitter accounts The NY Times suggests that Federal Regulators are taking an ever increasing look at the pay day loan industry FedEx details a new $10.5bn seven year contract with the US Postal Service The city of LA has agreed to pay $4.2m to two women fired upon by police officers in February, as part of the manhunt operation to find and catch ‘renegade’ ex policemen Christopher Dorner US presidents will have a rare public meeting tomorrow for the opening of the George W Bush library as Presidents Jimmy Carter, Bush, Clinton, George W Bush and President Obama all are due to attend, the first time they have met since January 2009 Overnight Market News Huawei responds to talk and states that it was not interested in the US market New Zealand has maintained its benchmark interest rate at 2.5% The China Securities Journal writes that China may expand the property tax pilot programme to additional cities Alibaba responds to pressure and states that it will increase its efforts to prevent sellers from using its online marketplace to sell counterfeit goods Reports suggest that China is set to build a second and larger aircraft carrier, as it continues its refitting of the old Russian carrier Top FX News The euro has slipped to a two week low ahead of German confidence data due out this morning Top Commodity News The US mint has run out f the smallest of its latest American Eagle gold coins as demand gained following the recent sell-off in the price of gold, with sales up more than 100% from last year Economic Data Due 09:00 Germany April IFO, 103.0 exp. 103.6 previous 13:30 US March Durable Goods Orders, -2.9% exp. 5.7% previous Economic Events US Treasury Secretary Lew Testifies on International Programs 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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