Day Ahead

Wednesday, May 22, 2013, Marketing Communication Opening Call The FTSE is seen starting the day around 15 points higher UK Corporate Announcements Cable & WIrless Comms reports full year revenues of $1.94bn, largely in line, and a full year EBITDA of $589m Great Portland announces a full year net profit of £180.6m and an NAV of $1.54bn and states its full year portfolio value gained 8% SSE announces a full year pre-tax profit of £1.19bn up 5.8% Britvic reports H1 revenues of £639.2m just under the forecasts of £647m seen and details it is to combine its UK and Ireland portfolio markets Intermediate Capital announces a full year adjusted pre-tax profit of £142.6m from £243.8m and states that the investment portfolio remains resilient Shaftesbury details an adjusted pre-tax profit of £15.2m buoyed by revaluations Innovation Group announces an H1 pre-tax profit of £6.8m and that it had £44.7m in cash end period Lloyds states that it has received the outcome of the Prudential Regulatory Authority’s decision on its capital position and states that no equity raising or contingent capital is needed UK News Ladbrokes detailed yesterday that it is planning to cut 100 employees from its head office as it transfers positions to its operations in Israel following its deal with Playtech Mark & Bolland called the bluff of his critics by stating that if shareholders in Marks & Spencer were unhappy with the business they should sell their shares The IMF has reportedly urged the UK to speed up efforts to dispose its stakes in RBS and Lloyds Songbird Estates detailed late yesterday that its Canary Wharf Group subsidiary and Qatar’s SWF have won approval to build 877 homes and eight office towers at the site of the Royal Dutch Shell’s London HQ on the banks of the Thames FTSE 100 Dividends: Carnival PLC, CCL, ($0.25),  Glencore Xstrata PLC, GLEN, ($0.1035g),  HSBC Holdings PLC, HSBA, ($0.10),  Intertek Group PLC, ITRK, (28) FTSE 100 Dividend Impact: 7.3 points FTSE 250 Dividends: Bellway PLC, BWY, (9),  Bwin.Party Digital Entertainment PLC, BPTY, (1.72g),  Capital & Counties Properties PLC, CAPC, (1),  Dignity PLC, DTY, (10.75),  Diploma PLC, DPLM, (5),  Home Retail Group PLC, HOME, (2),  Howden Joinery Group PLC, HWDN, (2.70),  Inchcape PLC, INCH, (10.50),  John Menzies PLC, MNZS, (17.85),  Michael Page International PLC, MPI, (6.75),  Provident Financial PLC, PFG, (48.40),  Witan Investment Trust PLC, WTAN, (3.30) FTSE Small Share: Chime Communications PLC, CHW, (5.14),  Clarkson PLC, CKN, (33),  Eastern European Trust PLC/The, EST, (.0585),  Robert Walters PLC, RWA, (3.68),  Stobart Group Ltd, STOB, (4),  UTV Media PLC, UTV, (5.25),  Witan Pacific Investment Trust PLC, WPC, (2.30),  Xaar PLC, XAR, (3) UK Analyst Changes Betfair Reinstated At Overweight At Barclays; Pt 950P Firstgroup Raised To Equalweight Vs Underweight:Morgan Stanley Kazakhmys Cut To Neutral Vs Buy At Ubs Vodafone Pt Raised 10% To 220P At Barclays, Stays Overweight Wolseley Rated New Underweight At Morgan Stanley, Pt 3,050P UK Insider Buying Beazley Plc, (BEZ), 1 insider(s) bought 11459 shares, £2.32 Cello Group Plc, (CLL), 1 insider(s) bought 13700 shares, £0.54 E2V Technologies Plc, (E2V), 1 insider(s) bought 20000 shares, £1.26 Melrose Industries Plc, (MRO), 1 insider(s) bought 8042 shares, £2.55 Symphony Internationa, (SIHL), 1 insider(s) bought 500000 shares, £0.51 Trinity Mirror Plc, (TNI), 3 insider(s) bought 114251 shares, £1.07 Zotefoams Plc, (ZTF), 1 insider(s) bought 8000 shares, £1.95 UK Insider Selling British Polythene Indus, (BPI),  insider(s) sold 27000 shares, £5.75 Frenkel Topping Group P, (FEN), 1 insider(s) sold 135000 shares, £0.26 Hikma Pharmaceuticals, (HIK),  insider(s) sold 5700 shares, £9.83 Ite Group Plc, (ITE), 1 insider(s) sold 7339 shares, £2.89 St. Ives Plc, (SIV), 3 insider(s) sold 977842 shares, £1.61 FTSE 100 Movers Major European Companies Reporting Britvic PLC, S1, 0.075,  Cable & Wireless Communications PLC, R, 0.049,  Firstgroup PLC, R, 0.278,  Great Portland Estates PLC, R, 0.062,  Shaftesbury PLC, S1, 0.06,  SSE PLC, R, 1.137 European Market Summary Mark Carney has stated that Europe could face a lost decade if it does not employ the kind of bold measures seen in Japan, comments matched by the Federal Reserve Bank of St Louis President James Bullard Telecom Italia responds to talks and denies that it was planning a break-up Germany sells €5bn in bonds at 11:30 Global Intraday Footprint Major US Stock Movers After Hours Saks gained 18% after hours on reports it has hired Goldman for s strategic review, which could include a sale NetApp announced a Q1 EPS just behind the forecasts, but gained 2.5% in late trading as it details a $3bn buyback S&P 500 Companies Reporting Hewlett-Packard Co, Q2, 0.808,  L Brands Inc, Q1, 0.461,  Lowe's Cos Inc, Q1, 0.508,  PetSmart Inc, Q1, 0.957,  Staples Inc, Q1, 0.268,  Target Corp, Q1, 0.842 US Market News US and Canadian pension funds are seen looking to invest into the UK’s Royal Mail on any privatisation, looking at the long term value of the UK postal service and despite executives stating that its financial returns were still well under commercial levels The US labels Ireland as a tax haven as the US Senate continues to probe Apple’s offshore strategies, and Apple responds by stating that ‘we pay every dollar of tax we owe’ JP Morgan shareholders vote to keep Dimon as both chairman and CEO, but three of its directors were voted down at the AGM, causing a board-room reshuffle due in the days ahead Goldman suggest that the S&P 500 could trade at 1750 the end of 2013, 1900 by the end of 2014 and 2100 end 2015, up 26%, on the basis that the US economy continues to improve and dividend yields are expected to gain some 30% The Fed continues to handle the expectations for the ending of QE, by not discussing any possible ending date, just conceding that a debate is needed, such as the Federal Reserve Bank of New York President Dudley stating that the outlook was uncertain and that he could not be sure which way, up or down, the next change in QE would be Overnight Market News The chairman of the China Securities Regulatory Commission states that the commission should focus on its key duties of regulating the market, and delegate more duties to other departments Chinese press details how a major gold deposit, estimates to be around 53 tonnes, $3.26bn, has been discovered in the Yili Valley, XinJang province Hong Kong is dealing with a storm which dropped 8 inches of rain in one morning, closing many schools, and shopping centres, and affecting public transport China Galaxy Securities will list as scheduled today, but it has suspended its listing ceremony until tomorrow due to the weather Sources suggest that Sony’s board will evaluate the proposal to spin off its entertainment business Top FX The Canadian dollar has fallen to a tow month low as the market continues to price in an expected end to US stimulus Economic Data Due 09:30 UK April PSNCR, £31.3bn previous 15:00 US Existing Home Sales, 4.99m exp. 4.92m previous Economic Events 09:30 UK MPC Minutes UK Retail Sales 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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