Day Ahead

Friday, May 17, 2013, Marketing Communication FTSE 100 Opening Call The FTSE is seen opening around 5 points higher this morning UK Corporate Announcements Intertek announces that revenues gained 9.9% and that it remains well positioned to deliver its strategy Premier Farnell reports that trends seen in Q4 continued into Q1 and states that group sales gained 5.7% on a sequential basis John Menzies reports that 4 month trading was ahead of last year and has benefitted from contract wins and that there has been no large changes in its financial circumstances Snoozebox announces that its current expectations for2014 are positive and states that it is exploring options regarding its funding Pendragon announces that underlying trading has been in line with the expectations UK Market News Morrison and Ocado announce that they are to launch an online food operation The UK Competition Commission announces that it gives a partial clearance for the FirstGroup Scottish bus route changes The Times writes that the Conservative Party is planning for a possible coalition breakup Tony Hayward has become the interim chairman at Glencore, as the former BP CEO, replaces John Bond, who was ousted by shareholders Chancellor Osborne has asked for the various government departments to make budget cuts of 10% as he targets cuts of $11.5bn in public spending in the election year, in moves which reportedly has caused ‘cabinet trouble’ The UK sells bills at 11:10 UK Analyst Changes Aviva Cut To Underperform Vs Sector Perform At Rbc European Software Cut To Neutral At Ubs Global Energy Cut To Neutral By Ubs Strategists Global Telcos Cut To Underweight By Ubs Strategists Global Telcos Cut To Underweight By Ubs Strategists Petrofac Raised To Buy Vs Hold At Liberum UK Insider Buying Marston's Plc, (MARS), 1 insider(s) bought 10000 shares, £1.47 Ortac Resources Ltd, (OTC), 1 insider(s) bought 2644017 shares, £0.25 Quindell Portfolio Plc, (QPP), 1 insider(s) bought 100000 shares, £0.1 Sage Group Plc/The, (SGE), 1 insider(s) bought 13500 shares, £3.52 Sig Plc, (SHI), 1 insider(s) bought 73 shares, £1.72 Travis Perkins Plc, (TPK), 1 insider(s) bought 4180 shares, £14.54 UK Insider Selling Bank Of Georgia Holdin, (BGEO), 1 insider(s) sold 11333 shares, £17.05 Diageo Plc, (DGE),  insider(s) sold 50000 shares, £20.56 Filtrona Plc, (FLTR), 1 insider(s) sold 66000 shares, £7.41 Lookers Plc, (LOOK), 1 insider(s) sold 20850000 shares, £1 Mobile Streams Plc, (MOS),  insider(s) sold 1000000 shares, £0.67 Old Mutual Plc, (OML), 1 insider(s) sold 76940 shares, £2.21 FTSE 100 Movers Major European Companies Reporting AP Moeller - Maersk A/S, Q1, 785.876,  FLSmidth & Co A/S, Q1, 4.433,  SES, Q1, 0.35 European Market Summary Turkey has had its ratings lifted by Moody’s up to investment grade, citing the recent debt cuts The European Banking Authority has dropped this year’s planned European bank stress tests in favour of an ECB led review, and moves the planned tests into 2014 Fiat has been looking at moving its HQ to America, following its merger with Chrysler and as it now receives 75% of its operating earnings from the region, however the potential move is causing local political concerns Global Intraday Footprint Major US Stock Movers After Hours Kansas City gained a touch after hours as S&P announced it would replace Dean Foods in the S&P 500 Aruba Networks fell 17% after hours as it announces Q3 numbers under the expectations and cites the challenging market conditions Autodesk announces a Q2 adjusted EPS revenues under the forecasts, and the stock fell 6.3% after hours as a result Brocade came off 4.7% reported a Q3 revenues under the estimates and states that buying back its own shares was the best way to return value S&P 500 Companies Reporting None Detailed US Market News The President of the Federal Reserve Bank of San Francisco has stated that the improving economy and jobs market could allow the Fed to start tapering QE in the next few months Google is in the UK papers as a parliamentary panel stated that it ‘does evil’ with the amount of corporation tax it pays, Google as yet has not aggressively stated that if the UK government had a proper handle on the tax system it may very well pay more tax Bill Gates has once again become the richest man in the world, moving ahead of Carlos Slim, due to the recovery in the share price in Microsoft, which has gained from $26 in January to $34 yesterday Blackrock details that it is to launch a ‘super’ fund where rather than investing in other funds, it would ask other funds to submit their best trades ideas, in return for a fee Citigroup states that it has asked its FX traders to stop using Bloomberg chat rooms, but does state this move was not related to the recent scandals at Bloomberg Bill Gross has stated that the eventual end to the 30 year rally in US bonds is unlikely to be similar to the falls posted in 1994, when the Fed lifted rates quicker than expected,  and states that he does not see yields not moving much for the 12 months ahead Overnight Market News Japanese confidence in its leader has reached highs not seen for three years, as the stock market pushes up to multi year highs, and Shinzo Abe’s confidence ratings at 66% top those seen for US, UK and European leaders Honda announces that it is to make a return to formula One as an engine supplier, after pulling out in 2008, it will make engines for McLaren Top FX The Mexican peso has slipped on increased talk that the Federal reserve is to cut back on QE which would stem the level of demand for emerging market currencies Chile Yesterday evening left its interest rates unchanged at 5% Top Commodity Credit Suisse states that it sees gold trading at $1,100 within a year Economic Data Due 14:55 US May Uni. of Michigan Confidence, 77.7 exp. 76.4 previous 15:00 US April Leading Indicators, 0.2% exp. -0.1% Economic Events None Detailed US Leading Indicators 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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