Day Ahead

Tuesday, May 28, 2013, Marketing Communication Opening Call The FTSE is called to open up around 25 points higher this morning UK Corporate Announcements Victrex announces H1 revenues of £104.6m up 1% and stays confident on its growth potential AG Barr states that 15 week total revenues gained 2.4% and states that it stays very confident on its future prospects UK News The CEO of Intercontinental Hotels states that growth in China has flattened out The Times suggests that the UK courts could be privatised in a radical justice shake-up The Sunday Times writes how Paul Walsh the outgoing CEO of Diageo is seen leaving with around £50m in total compensation when he retires Indian based United Spirits yesterday approved the allotment of 10% of its enlarged capitalisation on a preferential basis for £300m to Diageo The US administration has felt the need to state that US investment in the UK would be affected if it was to leave the EU AstraZeneca announces it buys Omthera Pharm for $323m Bloomberg details how UK banks have now cut around 190,000 jobs from their peak staffing levels Boris Johnson is expected to announce a £1bn deal tomorrow with a Chinese based property developer to redevelop a new business park at London’s Royal Docks, near the Excel exhibition centre UK Analyst Changes Rbs Cut To Sell Vs Neutral At Citi Lloyds Cut To Neutral Vs Buy At Citi UK Insider Buying Halfords Group Plc, (HFD), 3 insider(s) bought 27704 shares, £3.2 UK Insider Selling Berendsen Plc, (BRSN),  insider(s) sold 64260 shares, £7.74 Bloomsbury Publishing, (BMY), 1 insider(s) sold 131792 shares, £1.27 Lloyds Banking Group P, (LLOY),  insider(s) sold 608449 shares, £0.6 Next Plc, (NXT), 2 insider(s) sold 22000 shares, £46.22 FTSE 100 Movers Major European Companies Reporting Raiffeisen Bank International AG, Q1, 0.887,  Seadrill Ltd, Q1, 0.604,  Victrex PLC, S1, 0.408,  Vienna Insurance Group AG Wiener Versicherung Gruppe, Q1, 0.85 European Market Summary European markets had a broadly positive day yesterday, with noUS or UK influence the Stoxx 600 closed up 0.3% Chinese based Fosun International announces a move to buy Club Med, with Axa as a partner; it already holds a 10% of the French based group, which has detailed in recent months plans to expand further into China Deutsche Telekom is reportedly looking at buying Poland’s GTS Central Europe for up to €600m Axel Springer states that it will start to charge for some of its online newspaper content from mid June Netherlands sells up to €3bn in bonds at 10:00, while Italy sells up to €2.5bn in bonds at 11:00 Major US Stock Movers After Hours There were no major movers Friday evening S&P 500 Companies Reporting Tiffany & Co, Q1, 0.525 US Market News Valeant announces that it will buy Bausch & Lomb in a $8.7bn deal News Corp announces that it is to take a $1.2-1.4bn pre-tax charge on its publishing unit Fresh data suggests that US investors have moved more money into US balanced funds from January to April than at any rate previously, with inflows of $35.2bn Overnight Market News A majority of EU nations have opposed plans to set import tariffs on Chinese made solar panels Morgan Stanley has moved a showcase of its Asian hedge funds to New York from China, after planned attendees stated they were still concerned about bird flu The CEO of Woodside Petroleum the second largest oil and gas producer in Australia states that he is looking to make investments of around $5bn in projects globally Fast Retailing the largest clothing retailer in Asia has stated that it had not decided yet to join the safety pact supported by Inditex and H&M, following the tragedy in Bangladesh where over 1,000 people died, as it may instead follow its own safety improvement plan Australia details that it is to introduce a ban on broadcasting gambling averts during live sports Top FX The yuan has come off 19 year highs as the People’s Bank of China cuts the reference rate 0.01% The Brazilian real is trading down at its lowest level for the year as the central bank holds back on additional efforts to stem the depreciation Economic Data Due 15:00 US May Consumer Confidence, 70.0 exp. 68.1 previous Economic Events None Detailed US Consumer Confidence 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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