Day Ahead

Wednesday, May 15, 2013, Marketing Communication FTSE 100 Opening Call The FTSE is seen opening up around 30 points higher today, looking set to breach 6700, today the highest close in 2007 was at 6721, before that there is only the spike to the all time highs in December 1991, when it posted a close of 6930 UK Corporate Announcements Land Securities states that the retail market is set to remain challenging as it announces a full year operating profit of £648.2m from £645m with its NAV up 4.6% Serco states that it remains on track to meet its 2013 expectations as it saw strong organic growth in H1 London Stock Exchange announces full year revenues gained 7% to £726m with an adjusted operating profit of £430m down 3% and stays optimistic on the year ahead John Wood Group states that it stays confident on its full year outlook as trading has been in line ITV announces Q1 revenues slipped 5% to £201m and states it seeks to outperform the TV ad market over the full year Xchanging details that four month trading has been in line, and states it is to sell a 51% stake in its Xchanging Transaction Bank EasyJet announces an H1 pre-tax loss of £61m largely in line, on total revenues of £1.61bn and states that trading in H2 has been in line French Connection details that gross margins have been slightly lower and that UK and European trading had been broadly flat Cape states that trading has been in line Restaurant Group announces that it expects to open 30-35 new restaurants in the year, and that 19 week total sales were up 19% Compass Group announces an H1 underlying pre-tax profit of £611m on revenues of £8.8bn and states that year has started well UK Market News Mervyn King is due to give his final forecasts for the economy before his departure from the BofE, with the central bank also in the news as it calls Bloomberg’s abuse of user information ‘reprehensible’ and launches its own investigation into the scandal along with other central banks Late yesterday Severn Trent announces that it was rejecting the proposal from the Kuwaiti led group HSBC details that it plans up to $3bn in cost savings by the end of 2016 and states its priorities are growing its business and dividends and plans to introduce share buybacks by 2016 The FT writes that JC Flowers is to buy the British debt collection agency Cabot Marks & Spencer’s chief has stated that its new range of autumn and winter fashion was a step in the right direction Offices of both BP and Shell have been raided by EU authorities as part of a probe into concerns of oil price collusion Lonmin stays in the news as it states that workers at the morning shift workers at the Marikana mine in South Africa have not turned up for work, and that the earliest that work could resume is with the night shift Merlin Entertainment is reportedly looking a possible £3bn IPO FTSE 100 Dividends: G4S PLC, GFS, (5.54),  J Sainsbury PLC, SBRY, (11.90),  Polymetal International PLC, POLY, (.31),  Royal Dutch Shell PLC, RDSA, ($0.45g),  Royal Dutch Shell PLC, RDSB, ($0.45g),  Sage Group PLC/The, SGE, (3.69),  Whitbread PLC, WTB, (37.90),  WM Morrison Supermarkets PLC, MRW, (8.31) FTSE 100 Dividend Impact: 9.505 points FTSE 250 Dividends: 888 Holdings PLC, 888, ($0.02g),  888 Holdings PLC, 888, ($0.045g),  Carillion PLC, CLLN, (11.85),  Computacenter PLC, CCC, (10.50),  F&C Commercial Property Trust Ltd, FCPT, (0.5g),  Inmarsat PLC, ISAT, (.2745),  Premier Oil PLC, PMO, (5),  SDL PLC, SDL, (6.10),  United Drug PLC, UDG, (.0261),  Utilico Emerging Markets Ltd, UEM, (1.525),  Vesuvius PLC, VSVS, (9.50) FTSE Small Share: Management Consulting Group PLC, MMC, (.595),  Medicx Fund Ltd, MXF, (n/a),  Picton Property Income Ltd, PCTN, (.75),  Polar Capital Global Healthcare Growth & Income PLC, PCGH, (.50),  TT electronics PLC, TTG, (3.50) UK Analyst Changes Astrazeneca Pt Raised To 3,425P Vs 3,050P At Berenberg Betfair Group Rated Overweight at Morgan Stanley, PT 1,000p Dcc Rated New Neutral At Jpmorgan; Pt 2,650P GDF Suez Added to UBS’s Most Preferred List, Drax Removed Glaxosmithkline Pt Raised To 1,870P Vs 1,530P At Berenberg Sell ICAP, Relief Rally Overdone, UBS Says Unilever Raised To Buy Vs Reduce At Nomura Wolseley Cut To Sector Perform Vs Outperform At Rbc UK Insider Buying Arden Partners Plc, (ARDN), 1 insider(s) bought 61750 shares, £0.4 G4S Plc, (GFS), 1 insider(s) bought 50000 shares, £2.63 Harvey Nash Group Plc, (HVN), 2 insider(s) bought 22000 shares, £0.7 Icap Plc, (IAP), 3 insider(s) bought 505610 shares, £3.19 London Capital Group H, (LCG), 1 insider(s) bought 150000 shares, £0.43 Panmure Gordon & Co Pl, (PMR), 1 insider(s) bought 200000 shares, £0.15 Reed Elsevier Plc, (REL), 1 insider(s) bought 16420 shares, £7.4 Ruspetro Plc, (RPO), 1 insider(s) bought 502947 shares, £0.1 Treatt Plc, (TET), 4 insider(s) bought 13634 shares, £4.56 UK Insider Selling Astrazeneca Plc, (AZN), 1 insider(s) sold 1140 shares, £33.35 Csr Plc, (CSR),  insider(s) sold 82478 shares, £5.33 Filtrona Plc, (FLTR), 1 insider(s) sold 14527 shares, £7.45 Hargreaves Lansdown Pl, (HL/), 1 insider(s) sold 50000 shares, £9.98 Icap Plc, (IAP),  insider(s) sold 68066 shares, £3.1 Smiths News Plc, (NWS), 1 insider(s) sold 28538 shares, £1.8 Weir Group Plc/The, (WEIR), 1 insider(s) sold 2000 shares, £23.85 FTSE 100 Movers Major European Companies Reporting Ackermans & van Haaren NV, Q1, 0,  Ageas, Q1, -0.875,  Arkema SA, Q1, 1.41,  C&C Group PLC, R, 0.28,  Compass Group PLC, S1, 0.25,  Deutsche Euroshop AG, Q1, 0.405,  easyJet PLC, S1, -0.202,  GSW Immobilien AG, Q1, 0.39,  Land Securities Group PLC, R, 0.357,  London Stock Exchange Group PLC, R, 0.951,  RWE AG, Q1, 1.88,  Salzgitter AG, Q1, -0.23,  SCOR SE, Q1, 0.6,  ThyssenKrupp AG, Q2, 0.074 European Market Summary Yesterday evening Fitch lifted its rating on Greece to B- from CCC with a stable outlook, stating its progress made in eliminating fiscal and current account deficits TUI’s chief states that he does not plan a new merger attempt with TUI Travel Global Intraday Footprint Major US Stock Movers After Hours Mayflower Bankcorp gained a hefty 50% after hours as Independent Bank announces that it is to buy the company for $37m S&P 500 Companies Reporting Deere & Co, Q2, 2.718,  Macy's Inc, Q1, 0.529,  Computer Sciences Corp, Q4, 1.015,  Cisco Systems Inc, Q3, 0.492 US Market News The US Justice Department suggests that Apple took a leadership role in the price fixing for e-books Bloomberg suggests that delays in the border crossing between the US and Mexico cost the US economy around $8bn/year, and that this could rise to $14bn if the amount of cross border traffic growth continues as expected Overnight Market News Sony gained over 14% overnight as hedge fund manager Daniel Loeb takes a $1.1bn stake and makes calls for them to hold an IPO of its Entertainment Unit The Nikkei trades above 15,000 for the first time since 2008 A report by S&P suggests that China will surpass the US in the corporate debt markets for non financial companies within two years Top FX UBS suggests that the moves in the yen and dollar look reminiscent of the moves in 1994, and sees further weakness in the yen through to 2014, to 120 Top FX Goldman states that the sell-off in Gold was faster than expected and suggests that further unwinding of ETF positions could precipitate this decline Economic Data Due 07:00 German Q1 GDP, 0.3% exp. -0.6% previous 09:30 UK April Claimaint Count Rate, 4.6% exp. 4.6% previous 09:30 UK March ILO Unemployment Rate, 7.9% exp. 7.9% previous 10:00 Eurozone Q1 GDP, -0.1% exp. -0.6% previous 13:30 US April PPI, -0.6% exp. -0.6% previous 14:15 US April Industrial Production, -0.1% exp. 0.4% previous Economic Events Bank of England Quarterly Inflation Report Eurozone 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 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). 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