Day Ahead

Thursday, April 25, 2013, Marketing Communication Cantor Opening Call The FTSE is seen opening up around 5 points higher today UK Corporate Announcements Cobham reports trading has been in line and that its order book end March was stable at £2.4bn Admiral announces Q1 revenues dropped 6% to £551m and states that its financial position remains strong and remains happy with its progress Taylor Wimpey states that the UK conditions remain stable and sees its performance at the upper end of the expectations Croda reports full year pre-tax profit gained 6.5% and operating profit gained 4% to £283m British American Tobacco announces Q1 sales gained 5% ahead of the forecasts of 3.7% seen, although sales volumes fell 3.7% AstraZeneca announces Q1 core EPS of $1.41, ahead of the forecasts of $1.37 seen, despite revenues falling 13% to $6.39bn Filtrona details that Q1 revenues gained 12% and that its performance has been in line with the boards targets Unilever announces underlying sales growth of 4.9% against the estimates of 5.5% seen, on revenues of €12.2bn just under the consensus of €15.5bn seen and states that the developed markets growth remains sluggish Elementis details that it sees its full year results in line with the expectations and that its balance sheet remains strong UK Market News UK GDP numbers will be eyed today on the consensus that the economy may have just missed entering into a triple dip The FT suggests that WM Morrison is close to a distribution deal with Ocado A survey by RBS has 23 of the 60 central bankers own shares or are looking to buy them, with the likes of Japan already having stated that it plans to double investments in equity ETFs to $35bn by 2014, as the diversification pressures are growing as the reserves at central banks grow through QE The FT writes that the Bank of England’s revised Funding for Lending scheme could benefit the buy to let landlords Prudential is in the news after Bloomberg details on how Lansdowne Partners has filed that it has now ended its four year bearish position on Prudential, stating that it does not expect the stock to fall ‘any time soon’ BT is reportedly looking for a mobile partner as it looks at a renewed push into 4G UK Analyst Changes Computacenter Cut To Neutral Vs Overweight At Jpmorgan Man Group Pt Raised To 115P Vs 94P At Morgan Stanley Redrow Cut To Neutral Vs Buy At Citi UK Insider Buying Cls Holdings Plc, (CLI), 1 insider(s) bought 25538 shares, £8.9 Consort Medical Plc, (CSRT), 1 insider(s) bought 1470 shares, £7.78 London Mining Plc, (LOND), 1 insider(s) bought 38173 shares, £1.04 Persimmon Plc, (PSN), 1 insider(s) bought 10000 shares, £10.69 Pittards Plc, (PTD), 1 insider(s) bought 100000 shares, £0.02 Ruspetro Plc, (RPO), 1 insider(s) bought 30000 shares, £0.33 Tasty Plc, (TAST), 2 insider(s) bought 200000 shares, £0.55 Wessex Exploration Plc, (WSX), 3 insider(s) bought 5029334 shares, £0.01 UK Insider Selling Devro Plc, (DVO),  insider(s) sold 20000 shares, £3.06 Diageo Plc, (DGE), 1 insider(s) sold 827315 shares, £19.85 Hargreaves Lansdown Pl, (HL/),  insider(s) sold 10000 shares, £9.71 FTSE 100 Movers Major European Companies Reporting Aixtron SE NA, Q1, -0.091,  Amer Sports Oyj, Q1, 0.165,  AstraZeneca PLC, Q1, 1.353,  Banco de Sabadell SA, Q1, 0.023,  Banco Santander SA, Q1, 0.155,  Bayer AG, Q1, 1.756,  CaixaBank, Q1, 0.07,  Dassault Systemes SA, Q1, 0.762,  Electrolux AB, Q1, 1.818,  Ferrovial SA, Q1, 0,  Fortum OYJ, Q1, 0.494,  Imerys SA, Q1, 0,  JM AB, Q1, 2.945,  Kesko OYJ, Q1, 0.085,  MTU Aero Engines Holding AG, Q1, 1.057,  Novozymes A/S, Q1, 1.755,  Oriflame Cosmetics SA, Q1, 0.576,  Randstad Holding NV, Q1, 0.344,  Rhoen Klinikum AG, Q1, 0.16,  Societe BIC SA, Q1, 1.31,  Software AG, Q1, 0.32,  SSAB AB, Q1, -0.513,  Technip SA, Q1, 1.053,  Telenet Group Holding NV, Q1, 0.213,  TGS Nopec Geophysical Co ASA, Q1, 0.645,  Unilever NV, Q1, 0.39,  UPM-Kymmene OYJ, Q1, 0.184,  Volvo AB, Q1, 0.65 European Market Summary German officials have called for increased recycling of rare earths in order to drop reliance on imports French web advertiser Criteo has reportedly hired JP Morgan to handle its US IPO this year, where it could be valued at $2bn Italy’s new president, Enrico Letta, has stated that ‘Europe’s policy of austerity is no longer sufficient’ Europe’s largest IPO this year is due to take place in Germany today, with the listing of Evonik, the chemicals group, valued at around €15bn Santander announces a Q1 net profit of €1.21bn against the estimates of €1.31bn Global Intraday Footprint Major US Stock Movers After Hours Jet Airways gained 20% after hours as it announces it has sold a stake to Etihad Regeneron Pharm. gained 2% after hours as its announced it will replace MetroPCS in the S&P 500 Zynga details it lost 13m users in a year as it announces Q2 revenues of $225-235m and lowered its full year forecasts, it fell 7% on the news Intuit came off 10% as it also cuts its full year forecasts seeing $4.49bn in revenue from $4.55-4.6bn previously S&P 500 Companies Reporting 3M Co, Q1, 1.653,  Alexion Pharmaceuticals Inc, Q1, 0.591,  Altera Corp, Q1, 0.33,  Altria Group Inc, Q1, 0.528,  Amazon.com Inc, Q1, 0.126,  AmerisourceBergen Corp, Q2, 0.88,  Ball Corp, Q1, 0.644,  Bemis Co Inc, Q1, 0.539,  Biogen Idec Inc, Q1, 1.628,  BorgWarner Inc, Q1, 1.225,  Boston Scientific Corp, Q1, 0.089,  Bristol-Myers Squibb Co, Q1, 0.415,  Cameron International Corp, Q1, 0.74,  CBRE Group Inc, Q1, 0.174,  Celgene Corp, Q1, 1.353,  Cerner Corp, Q1, 0.633,  Chubb Corp/The, Q1, 1.738,  Cincinnati Financial Corp, Q1, 0.668,  CMS Energy Corp, Q1, 0.457,  Coca-Cola Enterprises Inc, Q1, 0.367,  Colgate-Palmolive Co, Q1, 1.319,  ConocoPhillips, Q1, 1.42,  CONSOL Energy Inc, Q1, 0.196,  Diamond Offshore Drilling Inc, Q1, 1.164,  Dominion Resources Inc/VA, Q1, 0.878,  Dow Chemical Co/The, Q1, 0.614,  Eastman Chemical Co, Q1, 1.571,  Entergy Corp, Q1, 0.727,  EQT Corp, Q1, 0.53,  Expedia Inc, Q1, 0.225,  Exxon Mobil Corp, Q1, 2.038,  Harley-Davidson Inc, Q1, 0.987,  Helmerich & Payne Inc, Q2, 1.288,  Hudson City Bancorp Inc, Q1, 0.106,  International Game Technology, Q2, 0.295,  KLA-Tencor Corp, Q3, 0.861,  L-3 Communications Holdings Inc, Q1, 1.934,  Leggett & Platt Inc, Q1, 0.378,  Mead Johnson Nutrition Co, Q1, 0.858,  Noble Energy Inc, Q1, 1.22,  Occidental Petroleum Corp, Q1, 1.592,  Parker Hannifin Corp, Q3, 1.681,  PerkinElmer Inc, Q1, 0.475,  Principal Financial Group Inc, Q1, 0.739,  PulteGroup Inc, Q1, 0.119,  Range Resources Corp, Q1, 0.282,  Raytheon Co, Q1, 1.279,  Republic Services Inc, Q1, 0.406,  Safeway Inc, Q1, 0.353,  SCANA Corp, Q1, 1.034,  Sigma-Aldrich Corp, Q1, 1.004,  Southwest Airlines Co, Q1, 0.022,  Stanley Black & Decker Inc, Q1, 0.962,  Starbucks Corp, Q2, 0.483,  Time Warner Cable Inc, Q1, 1.384,  United Parcel Service Inc, Q1, 1.01,  VeriSign Inc, Q1, 0.544,  Zimmer Holdings Inc, Q1, 1.403 US Market News Verizon has reportedly hired advisors to prepare a potential $100bn cash and stock deal to take full control of Verizon Wireless its JV with Vodafone Bloomberg suggests that talk amongst the Federal Reserve has shifted from the eventual timing of a reduction in bond buying, to the need to extend the stimulus as inflation stays at subdued levels Twitter responds to the hacking of an Associated Press account and resultant market flash crash and states that it is looking to increase security on its site Overnight Market News Olam is due to hold its annual strategic review as it remains most famous for being the target of Carson Block who accused them of being similar to Enron Corp Samsung states that demand for its new Galaxy S4 is stronger than anticipated Top FX News The Korean won gained as its growth outlook improved, with the confidence also buoying Asian markets in general overnight Sweden’s central bank deputy governor states that the bank was watching the krona as it predicts the recent gains were now coming to an end Economic Data Due 09:30 UK Q1 GDP, 0.1% exp. -0.3% previous 13:30 US Weekly Initial Jobless Claims, 351k exp. 352k previous Economic Events Single Market Conference in Brussels UK GDP 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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