Day Ahead

Tuesday, May 21, 2013, Marketing Communication Opening Call The FTSE yesterday closed at its highest level since 2000, as its closes above the 2007 highs, as it looks to follow the S&P 500 and post moves towards fresh all time highs UK Corporate Announcements Vodafone reports Q4 organic service revenues fell 4.2%, just inside the forecasts, and details full year revenues of $44.4bn largely in line and a full year EBITDA of £13.3bn Homeserve announces a full year adjusted operating profit of £107.6m on revenues of £546m largely in line and states that it remains a challenging time in the UK Big Yellow Group details a full year adjusted pre-tax profit of £25.5m on revenues of £69.7m Burberry Group reports full year revenues of £2.0bn up 8% and an adjusted pre-tax profit of £428m and states it is well positioned for the coming year Marks & Spencer reports a full year adjusted pre-tax profit of £665.2m in line, on revenues of £10bn and states it sees a material improvement in free cash flow Telecom Plus announces full year revenue of £601.5m up 27.6% and a pre-tax profit of £34.6m Invensys announces it is to return 76.7p/share to its shareholders, returning £625m pounds Capita states that it now sees greater than anticipated organic growth for the full year, as it details that it remains in talks to manage O2’s customer service centres UK News The chief of the CBI has stated that the high profile political attacks on corporate tax avoidance could damage Britain Vince Cable has criticised RBS for still not trying hard enough to lend to small and medium sized companies The Competition Commission states that it looks to break open cement market G4S announces that its CEO is to step down UK Analyst Changes Delta Lloyd, Ageas Rated New Outperform At Mediobanca Jupiter Fund Raised To Outperform Vs Sector Perform At Rbc Merck Kgaa Named Least Preferred Stock At Citi, Replaces Astra Zeneca UK Insider Buying Afriag Plc, (AFRI), 1 insider(s) bought 1000000 shares, £0 Beazley Plc, (BEZ), 1 insider(s) bought 11459 shares, £2.32 Bodycote Plc, (BOY), 1 insider(s) bought 2942 shares, £5.52 Cls Holdings Plc, (CLI), 1 insider(s) bought 10000 shares, £9.8 E2V Technologies Plc, (E2V), 1 insider(s) bought 20000 shares, £1.26 F&C Asset Management P, (FCAM), 1 insider(s) bought 50000 shares, £0.92 Jardine Lloyd Thompso, (JLT), 1 insider(s) bought 26092 shares, £9.05 Marston'S Plc, (MARS), 1 insider(s) bought 10000 shares, £1.47 Melrose Industries Plc, (MRO), 1 insider(s) bought 8042 shares, £2.55 Trinity Mirror Plc, (TNI), 3 insider(s) bought 114251 shares, £1.07 Weir Group Plc/The, (WEIR), 1 insider(s) bought 1000 shares, £23.99 Wolfson Microelectron, (WLF), 1 insider(s) bought 22446 shares, £2.23 UK Insider Selling Bba Aviation Plc, (BBA),  insider(s) sold 20965 shares, £2.73 Ite Group Plc, (ITE), 1 insider(s) sold 7339 shares, £2.89 Jardine Lloyd Thompson, (JLT), 1 insider(s) sold 63000 shares, £9.03 Weir Group Plc/The, (WEIR),  insider(s) sold 1000 shares, £23.99 FTSE 100 Movers Major European Companies Reporting Burberry Group PLC, R, 0.686,  Hufvudstaden AB, Q1, 0.952,  Intermediate Capital Group PLC, R, 0.278,  Marks & Spencer Group PLC, R, 0.325,  Sonova Holding AG, R, 4.411,  Topdanmark A/S, Q1, 2.69,  United Internet AG, Q1, 0.208,  Vodafone Group PLC, R, 0.155 European Market Summary Mario Monti has stated that the Eurozone banking and fiscal crisis in the region was largely over The EC is seen asking trading houses, such as Glencore, as part of its ongoing investigation into allegations of manipulation in energy price benchmarks Spain sells 3 month and 9 month bills at 10:30 Global Intraday Footprint Major US Stock Movers After Hours Qlogic confirmed its full year forecasts after it details that its CEO has resigned with immediate effect S&P 500 Companies Reporting Analog Devices Inc, Q2, 0.522,  AutoZone Inc, Q3, 7.21,  Best Buy Co Inc, Q1, 0.244,  Home Depot Inc/The, Q1, 0.763,  Intuit Inc, Q3, 2.929,  Medtronic Inc, Q4, 1.033,  NetApp Inc, Q4, 0.679,  TJX Cos Inc, Q1, 0.624 US Market News Moody’s states that the US faces a downgrade this year without a budget deal Goldman Sachs is reportedly looking to exit from its holding in Industrial & Commercial Bank of China, with a $1.1bn sale US senators have accused Apple of avoiding billions of dollars in taxes around the world Actavis announces a move for Warner Chilcott yesterday which if completed would create the world’s third largest generic drug maker Yahoo has promised not to screw up, after it announces it is buying Tumblr in a $1.1bn deal, from the 26 year old Tumblr CEO David Carp, who started the company in 2007 Argentina continues to hover on a possible decision to default on its debt A study in to dementia indicates that diet, exercise and socialising remain the strongest defence, ahead of the attempts by the pharmaceutical industry to treat the disease Overnight Market News Essar Oil is expected to sign a loan deal with China Development Bank where it will provide oil shipments to PetroChina as payment Bank of America suggests that China’s trade surplus is seen to be around one tenth of the $61bn given by customs numbers Top FX The pound strengthened a touch from six week lows yesterday after Mervyn King states that a modest recovery was underway and after the solid housing market data Top Commodity Platinum prices continue to stay strong despite the sell-off in Gold and silver as the industrial metal has its supply curbed by producers, Platinum held through ETP’s gained 17% this year, against the 17% fall in gold Economic Data Due 09:30 UK April CPI 0.5% exp. 0.3% previous Economic Events Fed's Dudley speaks in New York UK CPI 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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