Week Ahead

Friday May 31, 2013, Marketing Communication Monday June 3, 2013 UK Reporting: Phoenix It Group Ltd, PNX, e, (CC), Phoenix It Group Ltd, PNX, (R), Sage Group Plc/The, SGE, (SM), Sdl Plc, SDL, (SM), Smith & Nephew Plc, SN, (Pr), Thomas Cook Group Plc, TCG, (SM) S&P 500 Reporting: SAIC, Q1, $0.264 Euro Stoxx 600 Reporting: None Detailed Economic Data: 09:00 Eurozone May PMI Manufacturing, 47.8 exp. 47.8 previous 09:30 UK May Manufacturing PMI, 50.1 exp. 49.8 previous 15:00 US May Manufacturing ISM, 50.5 exp. 50.7 previous Economic Events: Fed's Williams Speaks in Brussels Corporate Action: Spirax-Sarco Engineering, SPX,  Share Consolidation, replacing every 27 shares with 26, & Special Cash Dividend, 100p Tuesday June 4, 2013 UK Reporting: Arm Holdings Plc, ARM, (Pr), Glaxosmithkline Plc, GSK, (Pr), Informa Plc, INF, (Pr), Sepura Ltd, SEPU, (R), Severfield-Rowen Plc, SFR, e, (CC), Ubm Plc, UBM, (Pr), Vodafone Group Plc, VOD, (Pr), Vp Plc, VP, e, (CC), Vp Plc, VP, (R), Wolseley Plc, WOS, (R), Wolseley Plc, WOS, (R), Wpp Plc, WPP, (SM) S&P 500 Reporting: Dollar General, Q1, $0.713 Euro Stoxx 600 Reporting: Koninklijke Ahold, Q1, 0.252 Economic Data: 00:01 UK May BRC LFL Sales, -2.2% previous 09:30 UK May PMI Construction, 49.6 exp. 49.4 previous 13:30 US April Trade Balance, -$41.0bn exp. -$38.8bn previous Economic Events: NATO Defence Ministers Meet in Brussels Wednesday June 5, 2013 UK Reporting: Bg Group Plc, BG, (Pr), Btg Plc, BTG, (Pr), Bumi Plc, BUMI, e, (R), Capital & Regional Plc, CAL, (SM), Eurasian Natural Resources, ENRC, (SM), Findel Plc, FDL, (R), Glaxosmithkline Plc, GSK, (Pr), Glaxosmithkline Plc, GSK, (Pr), Glaxosmithkline Plc, GSK, (Oth), Glaxosmithkline Plc, GSK, (Pr), Inmarsat Plc, ISAT, (Pr), Intl Consolidated Airline-Di, IAG, (R), Intl Consolidated Airline-Di, IAG, (R), Jkx Oil & Gas Plc, JKX, (SM), Ladbrokes Plc, LAD, (Pr), Legal & General Group Plc, LGEN, (Pr), Mears Group Plc, MER, (SM), Rpc Group Plc, RPC, (R), Sdl Plc, SDL, (SM), Synergy Health Plc, SYR, (R), Tesco Plc, TSCO, (R), Tesco Plc, TSCO, (R), Tribal Group Plc, TRB, (SM), Wpp Plc, WPP, (Pr) FTSE 100 Dividends: Associated British Foods PLC, ABF, (9.35), National Grid PLC, NG/, (26.36), WPP PLC, WPP, (19.71) FTSE 100 Dividend Impact: 4.86 points FTSE 250 Dividends: Alliance Trust PLC, ATST, (.36),  Alliance Trust PLC, ATST, (2.387), British Empire Securities and General Trust PLC, BTEM, (2),  Debenhams PLC, DEB, (1),  Grainger PLC, GRI, (.58),  Murray Income Trust PLC, MUT, (7),  Pace PLC, PIC, (2.029),  Perpetual Income and Growth Investment Trust PLC, PLI, (3.55),  Synthomer PLC, SYNT, (3.30),  Worldwide Healthcare Trust PLC, WWH, (9.50) FTSE Small Share: Aberdeen New Thai Investment Trust PLC, ANW, (7),  Anglo Pacific Group PLC, APF, (5.75),  Anglo-Eastern Plantations, AEP, (2.50),  BlackRock Frontiers Investment Trust PLC, BRFI, ($.02),  BlackRock Frontiers Investment Trust PLC, BRFI, ($.034),  Brammer PLC, BRAM, (6.40),  Capital Gearing Trust PLC, CGT, (16),  Cineworld Group PLC, CINE, (8),  F&C Capital & Income Investment Trust PLC/Fund, FCI, (2.15),  Greencore Group PLC, GNC, (1.9g),  Headlam Group PLC, HEAD, (10.20),  Henderson Diversified Income Ltd, HDIV, (1.25g),  Henderson Global Trust PLC/Fund, HGL, (2.50),  Majedie Investments PLC, MAJE, (4.20),  Marshalls PLC, MSLH, (3.50),  McKay Securities PLC, MCKS, (5.8g),  Schroder UK Mid Cap Fund PLC, SCP, (2.25),  Securities Trust of Scotland PLC, STS, (1.30),  Standard Life Equity Income Trust PLC, SLET, (3.20) S&P 500 Reporting: Brown-Forman, Q4, $0.462 Euro Stoxx 600 Reporting: Elektra, F, 3.617, Voestalpine, F, 2.443 Economic Data: 00:01 UK May BRC Shop Price Index, 0.4% previous 10:00 Eurozone Q1 GDP, -0.2% exp. -0.2% previous 15:00 US April Factory Orders, 1.4% exp. -4.0% previous 15:00 US May Non Manufacturing Composite, 53.5 exp. 53.1 previous 19:00 US Federal Reserve Beige Book Economic Events: EU Rules on Latvia's Eligibility to Adopt Euro Thursday June 6, 2013 UK Reporting: Bt Group Plc, BT/A, (Pr), Burberry Group Plc, BRBY, (Pr), Camellia Plc, CAM, (SM), Dignity Plc, DTY, (SM), Direct Line Insurance Group, DLG, (SM), Easyjet Plc, EZJ, (R), G4S Plc, GFS, (SM), Glaxosmithkline Plc, GSK, (Oth), Goldenport Holdings Inc, GPRT, (SM), Johnson Matthey Plc, JMAT, e, (CC), Johnson Matthey Plc, JMAT, (R), Michael Page International, MPI, (SM), Ophir Energy Plc, OPHR, (SM), Schroder Oriental Income, SOI, (SM), Sdl Plc, SDL, (SM), Shire Plc, SHP, (Pr), Vectura Group Plc, VEC, (Pr), Vectura Group Plc, VEC, (Pr) S&P 500 Reporting: JM Smucker, Q4, $1.158 Euro Stoxx 600 Reporting: Johnson Matthey, F, 1.459 Economic Data: 12:00 UK MPC Rate Announcement, 0.5% exp. 0.5% previous 12:45 ECB Rate Announcement, 0.5% exp. 0.5% previous 13:30 US Initial Jobless Claims, 345k exp.354k  previous Economic Events:- 13:30 Draghi ECB Press Conference Friday June 7, 2013 UK Reporting: Bellway Plc, BWY, (R), Burberry Group Plc, BRBY, (Pr), Fuller Smith & Turner -"A", FSTA, (R), Fuller Smith & Turner -"A", FSTA, e, (CC), Kcom Group Plc, KCOM, (R), Kcom Group Plc, KCOM, e, (CC), Premier Oil Plc, PMO, (SM), Sdl Plc, SDL, (SM), Standard Chartered Plc, STAN, (Pr), Sthree Plc, STHR, (R), Sthree Plc, STHR, (R), Wpp Plc, WPP, (Pr) S&P 500 Reporting: None Detailed Euro Stoxx 600 Reporting: None Detailed Economic Data:- 11:00 German April Industrial Production, 0.3% exp. 1.2% previous 13:30 US May Unemployment Rate, 7.5% exp. 7.5% previous Economic Events:- None Detailed CFD Sales/Traders 0044 (0) 207 894 8883 cfdsales@cantor.com Equity Spread Bet Sales 0044 (0) 207 894 8800 sales@cantorcapital.com Footnotes Times given are UK Local Time, (GMT or GMT +1 during BST) Dividends:- net prices are given as default, however where applicable gross dividends are detailed (g) UK Results Key:- (CC) Conference Call, (Pr) Press Event, News Conference, (R) Results, Interims/Finals, (SM) Shareholder Meeting,  (Oth) Other  Regulatory Disclaimer This market commentary note (“note”) has been issued by Cantor Fitzgerald Europe (“CFE”), which is authorised and regulated by the Financial Conduct Authority (“FCA”). This note is defined by the FCA as a marketing communication. This note has been prepared and distributed for information purposes only and represents the personal views and opinions of the sender. This note is not “investment research”, a “research recommendation” or a product of the Research Department. Please be aware that the CFE Research Department may issue a formal recommendation and target price on the stocks mentioned, which may differ from the opinion given here.  This note may contain information obtained by CFE from third parties; the source of information will usually be disclosed.  CFE makes no representation and gives no warranty as to the accuracy or completeness of the contents of this note. Any person placing reliance upon this note does so at their own risk. Investors should consider this note as only a single factor in making their investment decision. The investment discussed in this note may be unsuitable for investors depending on their specific investment objectives and financial position. CFE, its officers, employees and affiliates shall not be liable to any person in any way whatsoever for any losses, costs or claims howsoever arising from any inaccuracies or omissions in this note or any reliance on this note. The recipient is strongly recommended to see independent legal, tax and financial advice. Past performance is not necessarily a guide to future performance. Income from investments may fluctuate. The price or value of the investments to which this note relates; either directly or indirectly, may fall or rise against the interest of investors. This note should not be considered to be a solicitation nor an offer of advice for the purposes of the sale or purchase of any security, investment or derivative.  The information contained in this note is not intended to form the basis of any investment decision and should not be considered a recommendation by CFE or any other person in relation to any of the companies, stock, commodities, currencies or other markets mentioned / referred to in this note. All the information contained herein is based upon information available to the public and has been obtained from sources believed to be reliable. However, the information contained in this note has not been verified by CFE and CFE undertakes no obligation to provide recipients of this note with any additional information or any update to or correction of the information contained in this note. This note is provided by CFE and may be forwarded unamended and in its entirety. This note may not be used in whole or in part to create any other work. All rights reserved. FTSE International Limited (“FTSE”) © FTSE [2013]. “FTSE®” is a trade mark of the London Stock Exchange Group companies and is used by FTSE International Limited under licence. All rights in the FTSE indices and / or FTSE ratings vest in FTSE and/or its licensors. Neither FTSE nor its licensors accept any liability for any errors or omissions in the FTSE indices and / or FTSE ratings or underlying data. No further distribution of FTSE Data is permitted without FTSE’s express written consent. CFE is authorised and regulated by the FCA under Firm Reference Number 149380.   CFE – The Financial Services Register Information: http://www.fsa.gov.uk/register/firmBasicDetails.do?sid=61341 Registered in England No. 02505767 Registered Address: 17 Crosswall, London, EC3N 2LB Risk Warning Trading CFDs carries a high level of risk to your capital and is not suitable for all customers. Furthermore, margined products use leverage to increase the level of exposure to the product, and as a result your losses may substantially exceed your initial deposit and require you to make additional deposits at short notice. Prior to trading leveraged CFDs, you should carefully consider your investment objectives, experience and risk appetite and should not invest money that you cannot afford to lose. Spread Bets are leveraged products placing your capital at risk. Losses can quickly exceed your initial deposit and thus require you to make additional deposits at short notice to maintain your positions. Leveraged products are not suitable for all customers. Please ensure you understand the risks involved before opening an account. You should ensure you fully understand the risks and seek independent financial advice if in doubt. CFE provides an execution only service and does not offer investment advice. These products are not intended for people under the age of 18 or for US residents. The distribution of this note in other jurisdictions may be restricted by law and persons into whose possession this note comes should inform themselves about and observe any such restrictions. By accepting this note you agree to be bound by the foregoing instructions.

Click for more »

Day Ahead

Friday, May 31, 2013, Marketing Communication Opening Call The FTSE is called to open around unchanged this morning UK Corporate Announcements Londonmetric details a full year pre-tax profit of £39.9m from £19.5m and states that it begins its residential portfolio reduction Theo Fennell states that it remains in offer talks with EME and extends the deadline to end June UK News Vince Cable has stated that a privatisation of RBS was not urgent, as the bank narrows the field amongst the bidders for the hundreds of its branches it is putting up for sale, reportedly rejecting an offer from JC Flowers The FT suggests that Smiths Group is considering a sale of its £2bn medical division Tui Travel announces that it is to buy 60 Boeing aircraft value at $6.1bn list price Lloyds announces that sale of its international private banking business to UBP and also auctions $8.7bn of its mortgage bonds, in the largest sale of this type of debt for three years The UK sells £2.5bn in Bills at 11:10 Also we would like to congratulate Tight Lipped, and jockey Ryan Tate, for winning the Cantor Capital Handicap, 18:10 at Sandown yesterday evening, we were hoping that ‘Significant Move’ would make a good showing so we could write a market based pun of some kind, but it ran home second to last in the 9 horse race 18:10 Sandown Cantor Capital Handicap Winner, Tight Lipped UK Analyst Changes Astrazeneca Pt Raised To 3,500P Vs 3,000P At Citi Bellway Added To Ubs Europe Building Most Preferred List Darty Added To Ubs Europe General Retail Most Preferred Halfords Exits Ubs Europe General Retail Least Preferred Halfords Group Raised To Buy Vs Sell At Ubs Imagination Technologies Cut To Underperform Vs Neutral: Bofaml Kingfisher Exits Ubs Europe General Retail Least Preferred List Lonmin Raised To Overweight Vs Equalweight At Morgan Stanley Persimmon Cut To Neutral Vs Buy At Ubs Taylor Wimpey Exits Ubs Europe Building Most Preferred List Wh Smith Added To Ubs Europe General Retail Least Preferred Wh Smith Exits Ubs Europe General Retail Most Preferred List UK Insider Buying Bae Systems Plc, (BA/), 1 insider(s) bought 26356 shares, £4.1 Brewin Dolphin Holding, (BRW), 4 insider(s) bought 24350 shares, £2.1 Brown (N) Group Plc, (BWNG), 2 insider(s) bought 16937 shares, £4.64 H.R. Owen Plc, (HRO), 1 insider(s) bought 100000 shares, £1.14 Manx Financial Group P, (MFX), 1 insider(s) bought 321147 shares, £0.08 National Grid Plc, (NG/), 1 insider(s) bought 18800 shares, £7.98 Sabmiller Plc, (SAB), 1 insider(s) bought 10000 shares, £34.36 Salamander Energy Plc, (SMDR), 3 insider(s) bought 38014 shares, £1.67 Uk Mail Group Plc, (UKM), 2 insider(s) bought 11841 shares, £5.1 United Utilities Group, (UU/), 1 insider(s) bought 3924 shares, £7.72 UK Insider Selling Avocet Mining Plc, (AVM), 1 insider(s) sold 31346 shares, £0.12 Berendsen Plc, (BRSN),  insider(s) sold 37805 shares, £7.66 Booker Group Plc, (BOK), 3 insider(s) sold 2018547 shares, £1.3 Dialight Plc, (DIA),  insider(s) sold 54148 shares, £13.05 Mothercare Plc, (MTC), 1 insider(s) sold 33987 shares, £3.45 Smith & Nephew Plc, (SN/), 1 insider(s) sold 8262 shares, £7.81 Spaceandpeople Plc, (SAL), 1 insider(s) sold 25000 shares, £1.04 United Utilities Group, (UU/), 1 insider(s) sold 3924 shares, £7.7 FTSE 100 Movers Major European Companies Reporting None Detailed European Market Summary Merkel has stated to Hollande that reform is the price of an EU deficit waiver A study has suggested that there is no benefit in taking a double dose of Roche’s Tamiflu The Telegraph suggests that the European countries pushing for a £30bn financial transaction tax are seen scaling back their plans after the international opposition to the move The head of the Italian banking association has said that bad loans at Italian banks may keep rising through to 2014 Global Market Footprint Major US Stock Movers After Hours Omnivision gained a solid 22% after hours as it announced Q1 revenues of $355-390m ahead of the forecasted range Uroplasty gained 16% as it received a positive coverage decision from Wisconsin Physicians Services Palo Alto Networks fell 15% after hours as it announces Q3 revenues under the estimates and gave a muted outlook for Q4 S&P 500 Companies Reporting None Detailed US Market News Neimus Marcus announced yesterday that it was rejecting a merger proposal with Saks Google is set to launch its MOTO X, a low cost smart phone manufactured in Texas Goldman details that it has hired 350 summer analysts from a 17,000 pool of applicants Overnight Market News Local press details that some analysts have concerns on whether Shuanghui International will be successful in its moves to acquire Smithfield Foods as its $4.7bn bid may be too low The Shanghai Securities News details how assets managed by the trust industry in China are now around $1.63tn Sony has reportedly working with Morgan Stanley as it continues to investigate the possibility of an IPO of its entertainment unit Asian markets are due to end the month lower, for the first time since October last year when the sharp bull trend accelerated Top Commodity China is on course to have its rice consumption top its production for the first time since 2006, which would make it the world’s largest importer, demand fro new supplies has been strong in recent week’s as some trader’s have switched to cheaper imports after high traces of cadmium were found in local crops Economic Data Due 00:30 Japan April Jobless Rate, 4.1% exp. 4.1% previous 10:00 Eurozone May CPI Estimates, 1.4% exp. 1.2% previous 13:30 US April Personal Income, 0.2% exp. 0.2% previous 14:45 US May University of Michigan Confidence, 83.9 exp. 83.7 previous Economic Events Bank of Japan Deputy Governor Speaks US Personal Income CFD Sales/Traders 0044 (0) 207 894 8883 cfdsales@cantor.com Equity Spread Bet Sales 0044 (0) 207 894 8800 sales@cantorcapital.com Footnotes FTSE 100 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). Major European Companies defined as those companies in the STOXX Europe 600 Index FTSE 100 Movers, Blue >0.25%, Green <0.25% > -0.25%, Red < -0.25%, Font size dependent on percentage size of move This note is compiled using information / charts from financial data providers such as Bloomberg and Reuters, as well as from the general financial / business media Regulatory Disclaimer This market commentary note (“note”) has been issued by Cantor Fitzgerald Europe (“CFE”), which is authorised and regulated by the Financial Conduct Authority (“FCA”). Cantor Index is a trading name of CFE. This note is defined by the FCA as a marketing communication. This note has been prepared and distributed for information purposes only and represents the personal views and opinions of the sender. This note is not “investment research”, a “research recommendation” or a product of the Research Department. Please be aware that the CFE Research Department may issue a formal recommendation and target price on the stocks mentioned, which may differ from the opinion given here.  This note may contain information obtained by CFE from third parties; the source of information will usually be disclosed.  CFE makes no representation and gives no warranty as to the accuracy or completeness of the contents of this note. Any person placing reliance upon this note does so at their own risk. Investors should consider this note as only a single factor in making their investment decision. The investment discussed in this note may be unsuitable for investors depending on their specific investment objectives and financial position. CFE, its officers, employees and affiliates shall not be liable to any person in any way whatsoever for any losses, costs or claims howsoever arising from any inaccuracies or omissions in this note or any reliance on this note. The recipient is strongly recommended to see independent legal, tax and financial advice. Past performance is not necessarily a guide to future performance. Income from investments may fluctuate. The price or value of the investments to which this note relates; either directly or indirectly, may fall or rise against the interest of investors. This note should not be considered to be a solicitation nor an offer of advice for the purposes of the sale or purchase of any security, investment or derivative.  The information contained in this note is not intended to form the basis of any investment decision and should not be considered a recommendation by CFE or any other person in relation to any of the companies, stock, commodities, currencies or other markets mentioned / referred to in this note. All the information contained herein is based upon information available to the public and has been obtained from sources believed to be reliable. However, the information contained in this note has not been verified by CFE and CFE undertakes no obligation to provide recipients of this note with any additional information or any update to or correction of the information contained in this note. This note is provided by CFE and may be forwarded unamended and in its entirety. This note may not be used in whole or in part to create any other work. All rights reserved. FTSE International Limited (“FTSE”) © FTSE [2013]. “FTSE®” is a trade mark of the London Stock Exchange Group companies and is used by FTSE International Limited under licence. All rights in the FTSE indices and / or FTSE ratings vest in FTSE and/or its licensors. Neither FTSE nor its licensors accept any liability for any errors or omissions in the FTSE indices and / or FTSE ratings or underlying data. No further distribution of FTSE Data is permitted without FTSE’s express written consent. CFE is authorised and regulated by the FCA under Firm Reference Number 149380.   CFE – The Financial Services Register Information: http://www.fsa.gov.uk/register/firmBasicDetails.do?sid=61341 Registered in England No. 02505767 Registered Address: 17 Crosswall, London, EC3N 2LB Risk Warning Trading CFDs carries a high level of risk to your capital and is not suitable for all customers. Furthermore, margined products use leverage to increase the level of exposure to the product, and as a result your losses may substantially exceed your initial deposit and require you to make additional deposits at short notice. Prior to trading leveraged CFDs, you should carefully consider your investment objectives, experience and risk appetite and should not invest money that you cannot afford to lose. Spread Bets are leveraged products placing your capital at risk. Losses can quickly exceed your initial deposit and thus require you to make additional deposits at short notice to maintain your positions. Leveraged products are not suitable for all customers. Please ensure you understand the risks involved before opening an account. You should ensure you fully understand the risks and seek independent financial advice if in doubt. CFE provides an execution only service and does not offer investment advice. These products are not intended for people under the age of 18 or for US residents. The distribution of this note in other jurisdictions may be restricted by law and persons into whose possession this note comes should inform themselves about and observe any such restrictions. By accepting this note you agree to be bound by the foregoing instructions.

Click for more »

Day Ahead

Wednesday, May 29, 2013, Marketing Communication Opening Call The FTSE is seen starting the day down around 30 points UK Corporate Announcements De La Rue announces a full year revenue of £483.7m, under the forecasts of around £508m seen, and a pre-tax profit of £51.5m also just under the forecasts Brewin Dolphin reports a pre-tax profit of £6.9m from £12.3m on total income of £139m from £131m and details a placing to raise up to £40m Topps Tiles reports an H1 adjusted pre-tax profit of £4.7m from £5m, on revenues of £87.4m from £86.6m and states that it remains cautious on the LFL sales outlook for the rest of the year Telford Homes announces a full year EPS of 13.8p from 4.6p with agreed sales up 75% to 460 UK News Balfour Beatty is reportedly looking at the sale of Exeter Airport The Telegraph suggests that Lloyds has put up for auction its $8.7bn of US mortgage bonds The UK sells £1.75bn at 11:30 FTSE 100 Dividends: AMEC PLC, AMEC, (24.80), Marks & Spencer Group PLC, MKS, (10.80) FTSE 100 Dividend Impact: 1 point FTSE 250 Dividends: Britvic PLC, BVIC, (5.40),  Cable & Wireless Communications PLC, CWC, (.0267),  Great Portland Estates PLC, GPOR, (5.30),  Marston's PLC, MARS, (2.30),  NMC Health PLC, NMC, (4.10),  Premier Farnell PLC, PFL, (6),  Scottish Mortgage Investment Trust PLC, SMT, (7.30),  Spectris PLC, SXS, (25.50) FTSE Small Share: BlackRock Smaller Cos Trust PLC, BRSC, (6.50),  GCP Infrastructure Investments Ltd, GCP, (3.8g),  Graphite Enterprise Trust PLC, GPE, (5),  Hill & Smith Holdings PLC, HILS, (9.20),  Hilton Food Group PLC, HFG, (8.60),  Huntsworth PLC, HNT, (2.50),  Keystone Investment Trust PLC, KIT, (18),  Laura Ashley Holdings PLC, ALY, (.50),  Martin Currie Portfolio Investment Trust PLC, MNP, (2.70),  Mecom Group PLC, MEC, (.055),  Mucklow A & J Group PLC, MKLW, (8.78),  Pacific Assets Trust PLC/Fund, PAC, (2.60),  Scottish American Investment Co PLC/fund, SCAM, (2.50),  Tarsus Group PLC, TRS, (4.60),  Town Centre Securities PLC, TCSC, (3.1g) UK Analyst Changes Mitchells & Butlers Cut To Add Vs Buy At Numis Lse Raised To Hold Vs Reduce At Numis UK Insider Buying Avanti Communications, (AVN), 1 insider(s) bought 12572 shares, £2.61 Firstgroup Plc, (FGP), 1 insider(s) bought 2000 shares, £1.3 Halfords Group Plc, (HFD), 3 insider(s) bought 27704 shares, £3.2 Laird Plc, (LRD), 1 insider(s) bought 5401 shares, £2.12 Sierra Rutile Ltd, (SRX), 1 insider(s) bought 110000 shares, £0.5 UK Insider Selling Berendsen Plc, (BRSN),  insider(s) sold 64260 shares, £7.7 Bloomsbury Publishing, (BMY), 1 insider(s) sold 131792 shares, £1.2 Innovation Group Plc, (TIG), 2 insider(s) sold 1832185 shares, £0.2 Lloyds Banking Group P, (LLOY), 1 insider(s) sold 608449 shares, £0.6 Management Consulting, (MMC), 1 insider(s) sold 461818 shares, £0.3 Next Plc, (NXT), 2 insider(s) sold 22000 shares, £46.2 Optimal Payments Plc, (OPAY),  insider(s) sold 346500 shares, £1.7 Pennon Group Plc, (PNN), 1 insider(s) sold 1087 shares, £7 Tristel Plc, (TSTL), 1 insider(s) sold 200000 shares, £0.2 FTSE 100 Movers Major European Companies Reporting De La Rue PLC, R, 0.446 European Market Summary Christian Noyer states that he is not convinced about the merits of a negative deposit rate Stoxx 600 details that St James Place, Resolution and Bankia will join the index from the end of next month, with Spirent, National Express, ENRC, Evraz and Kazakymys being dropped, effective June 24 The Irish government matches the moves increasingly made round the world and is expected to ban branding from tobacco products The EC is due to deliver its verdict on Slovenia’s planned recapitalisation plan, to avoid becoming the sixth nation requiring a bailout Commerzbank had its rating cut to A- from A by S&P, with a negative outlook Italy sells €8bn in bills at 11:00 Global Market Footprint Major US Stock Movers After Hours Wet Seal announces Q2 sales of up to $141m ahead of the forecasts of around $131m seen, and gained around 4% after hours on the news Achillion came off 7% as its CEO details that he is to retire S&P 500 Companies Reporting None Detailed US Market News The Dow shrugs off the bout of Asian based selling of last week as it closed at yet another fresh record yesterday Moody’s has lifted its outlook on the US banking system to stable from negative Apple TV and Apple watches stay in the headlines as Tim Cook states that these continue to be areas of interest and that the company has ‘some incredible plans’ in the pipeline Facebook is in the news as some advertisers have dropped ads from the network after it was highlighted that major corporate brands where getting pop up ads close, or next to, offensive updates and images The US closes Costa-Rican based Liberty Reserve stating that is was the bank of choice for the criminal underworld and that it had laundered more than $6bn since 2006, and details that it had more than 1m users worldwide Rupert Murdoch plans to literally leave his mark on the publishing arm, when it sis spun off next month, as the new logo for the unit is based on his handwriting Overnight Market News An economic advisor to Japanese PM Shinzo Abe has told South Korean critics that they should stop blaming Japan and instead urges them to pressure their own central bank to have ‘a proper monetary policy’ Fitch details that Chinese banks added assets to their balance sheet at the rate of an entire US banking system in just five years, with the agency stating that this was highly indicative of a brewing crisis Local press suggests that IPOs may resume in China from August, while the Shanghai Daily writes that after hours trading on the Shanghai futures market is expected within two months Top FX The Aussie dollar has fallen to its lowest level against the US cents since October 2011, trading at $95.69, and the Canadian dollar has fallen to its lowest level for a year on the increasing expectation for the beginning of the end of Fed QE Economic Data Due 08:55 German May Unemployment Change, 5k exp. 4k previous 09:00 Eurozone April M3, 3.0% exp. 2.6% previous 15:00 Bank of Canada Rate 1.0% exp. 1.0% previous Economic Events Former Fed Chairman Volcker Speaks in New York Bank of Canada Rate CFD Sales/Traders 0044 (0) 207 894 8883 cfdsales@cantor.com Equity Spread Bet Sales 0044 (0) 207 894 8800 sales@cantorcapital.com Footnotes FTSE 100 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). Major European Companies defined as those companies in the STOXX Europe 600 Index FTSE 100 Movers, Blue >0.25%, Green <0.25% > -0.25%, Red < -0.25%, Font size dependent on percentage size of move This note is compiled using information / charts from financial data providers such as Bloomberg and Reuters, as well as from the general financial / business media Regulatory Disclaimer This market commentary note (“note”) has been issued by Cantor Fitzgerald Europe (“CFE”), which is authorised and regulated by the Financial Conduct Authority (“FCA”). Cantor Index is a trading name of CFE. This note is defined by the FCA as a marketing communication. This note has been prepared and distributed for information purposes only and represents the personal views and opinions of the sender. This note is not “investment research”, a “research recommendation” or a product of the Research Department. Please be aware that the CFE Research Department may issue a formal recommendation and target price on the stocks mentioned, which may differ from the opinion given here.  This note may contain information obtained by CFE from third parties; the source of information will usually be disclosed.  CFE makes no representation and gives no warranty as to the accuracy or completeness of the contents of this note. Any person placing reliance upon this note does so at their own risk. Investors should consider this note as only a single factor in making their investment decision. The investment discussed in this note may be unsuitable for investors depending on their specific investment objectives and financial position. CFE, its officers, employees and affiliates shall not be liable to any person in any way whatsoever for any losses, costs or claims howsoever arising from any inaccuracies or omissions in this note or any reliance on this note. The recipient is strongly recommended to see independent legal, tax and financial advice. Past performance is not necessarily a guide to future performance. Income from investments may fluctuate. The price or value of the investments to which this note relates; either directly or indirectly, may fall or rise against the interest of investors. This note should not be considered to be a solicitation nor an offer of advice for the purposes of the sale or purchase of any security, investment or derivative.  The information contained in this note is not intended to form the basis of any investment decision and should not be considered a recommendation by CFE or any other person in relation to any of the companies, stock, commodities, currencies or other markets mentioned / referred to in this note. All the information contained herein is based upon information available to the public and has been obtained from sources believed to be reliable. However, the information contained in this note has not been verified by CFE and CFE undertakes no obligation to provide recipients of this note with any additional information or any update to or correction of the information contained in this note. This note is provided by CFE and may be forwarded unamended and in its entirety. This note may not be used in whole or in part to create any other work. All rights reserved. FTSE International Limited (“FTSE”) © FTSE [2013]. “FTSE®” is a trade mark of the London Stock Exchange Group companies and is used by FTSE International Limited under licence. All rights in the FTSE indices and / or FTSE ratings vest in FTSE and/or its licensors. Neither FTSE nor its licensors accept any liability for any errors or omissions in the FTSE indices and / or FTSE ratings or underlying data. No further distribution of FTSE Data is permitted without FTSE’s express written consent. CFE is authorised and regulated by the FCA under Firm Reference Number 149380.   CFE – The Financial Services Register Information: http://www.fsa.gov.uk/register/firmBasicDetails.do?sid=61341 Registered in England No. 02505767 Registered Address: 17 Crosswall, London, EC3N 2LB Risk Warning Trading CFDs carries a high level of risk to your capital and is not suitable for all customers. Furthermore, margined products use leverage to increase the level of exposure to the product, and as a result your losses may substantially exceed your initial deposit and require you to make additional deposits at short notice. Prior to trading leveraged CFDs, you should carefully consider your investment objectives, experience and risk appetite and should not invest money that you cannot afford to lose. Spread Bets are leveraged products placing your capital at risk. Losses can quickly exceed your initial deposit and thus require you to make additional deposits at short notice to maintain your positions. Leveraged products are not suitable for all customers. Please ensure you understand the risks involved before opening an account. You should ensure you fully understand the risks and seek independent financial advice if in doubt. CFE provides an execution only service and does not offer investment advice. These products are not intended for people under the age of 18 or for US residents. The distribution of this note in other jurisdictions may be restricted by law and persons into whose possession this note comes should inform themselves about and observe any such restrictions. By accepting this note you agree to be bound by the foregoing instructions.

Click for more »