Day Ahead

Wednesday, May 29, 2013, Marketing Communication Opening Call The FTSE is seen starting the day down around 30 points UK Corporate Announcements De La Rue announces a full year revenue of £483.7m, under the forecasts of around £508m seen, and a pre-tax profit of £51.5m also just under the forecasts Brewin Dolphin reports a pre-tax profit of £6.9m from £12.3m on total income of £139m from £131m and details a placing to raise up to £40m Topps Tiles reports an H1 adjusted pre-tax profit of £4.7m from £5m, on revenues of £87.4m from £86.6m and states that it remains cautious on the LFL sales outlook for the rest of the year Telford Homes announces a full year EPS of 13.8p from 4.6p with agreed sales up 75% to 460 UK News Balfour Beatty is reportedly looking at the sale of Exeter Airport The Telegraph suggests that Lloyds has put up for auction its $8.7bn of US mortgage bonds The UK sells £1.75bn at 11:30 FTSE 100 Dividends: AMEC PLC, AMEC, (24.80), Marks & Spencer Group PLC, MKS, (10.80) FTSE 100 Dividend Impact: 1 point FTSE 250 Dividends: Britvic PLC, BVIC, (5.40),  Cable & Wireless Communications PLC, CWC, (.0267),  Great Portland Estates PLC, GPOR, (5.30),  Marston's PLC, MARS, (2.30),  NMC Health PLC, NMC, (4.10),  Premier Farnell PLC, PFL, (6),  Scottish Mortgage Investment Trust PLC, SMT, (7.30),  Spectris PLC, SXS, (25.50) FTSE Small Share: BlackRock Smaller Cos Trust PLC, BRSC, (6.50),  GCP Infrastructure Investments Ltd, GCP, (3.8g),  Graphite Enterprise Trust PLC, GPE, (5),  Hill & Smith Holdings PLC, HILS, (9.20),  Hilton Food Group PLC, HFG, (8.60),  Huntsworth PLC, HNT, (2.50),  Keystone Investment Trust PLC, KIT, (18),  Laura Ashley Holdings PLC, ALY, (.50),  Martin Currie Portfolio Investment Trust PLC, MNP, (2.70),  Mecom Group PLC, MEC, (.055),  Mucklow A & J Group PLC, MKLW, (8.78),  Pacific Assets Trust PLC/Fund, PAC, (2.60),  Scottish American Investment Co PLC/fund, SCAM, (2.50),  Tarsus Group PLC, TRS, (4.60),  Town Centre Securities PLC, TCSC, (3.1g) UK Analyst Changes Mitchells & Butlers Cut To Add Vs Buy At Numis Lse Raised To Hold Vs Reduce At Numis UK Insider Buying Avanti Communications, (AVN), 1 insider(s) bought 12572 shares, £2.61 Firstgroup Plc, (FGP), 1 insider(s) bought 2000 shares, £1.3 Halfords Group Plc, (HFD), 3 insider(s) bought 27704 shares, £3.2 Laird Plc, (LRD), 1 insider(s) bought 5401 shares, £2.12 Sierra Rutile Ltd, (SRX), 1 insider(s) bought 110000 shares, £0.5 UK Insider Selling Berendsen Plc, (BRSN),  insider(s) sold 64260 shares, £7.7 Bloomsbury Publishing, (BMY), 1 insider(s) sold 131792 shares, £1.2 Innovation Group Plc, (TIG), 2 insider(s) sold 1832185 shares, £0.2 Lloyds Banking Group P, (LLOY), 1 insider(s) sold 608449 shares, £0.6 Management Consulting, (MMC), 1 insider(s) sold 461818 shares, £0.3 Next Plc, (NXT), 2 insider(s) sold 22000 shares, £46.2 Optimal Payments Plc, (OPAY),  insider(s) sold 346500 shares, £1.7 Pennon Group Plc, (PNN), 1 insider(s) sold 1087 shares, £7 Tristel Plc, (TSTL), 1 insider(s) sold 200000 shares, £0.2 FTSE 100 Movers Major European Companies Reporting De La Rue PLC, R, 0.446 European Market Summary Christian Noyer states that he is not convinced about the merits of a negative deposit rate Stoxx 600 details that St James Place, Resolution and Bankia will join the index from the end of next month, with Spirent, National Express, ENRC, Evraz and Kazakymys being dropped, effective June 24 The Irish government matches the moves increasingly made round the world and is expected to ban branding from tobacco products The EC is due to deliver its verdict on Slovenia’s planned recapitalisation plan, to avoid becoming the sixth nation requiring a bailout Commerzbank had its rating cut to A- from A by S&P, with a negative outlook Italy sells €8bn in bills at 11:00 Global Market Footprint Major US Stock Movers After Hours Wet Seal announces Q2 sales of up to $141m ahead of the forecasts of around $131m seen, and gained around 4% after hours on the news Achillion came off 7% as its CEO details that he is to retire S&P 500 Companies Reporting None Detailed US Market News The Dow shrugs off the bout of Asian based selling of last week as it closed at yet another fresh record yesterday Moody’s has lifted its outlook on the US banking system to stable from negative Apple TV and Apple watches stay in the headlines as Tim Cook states that these continue to be areas of interest and that the company has ‘some incredible plans’ in the pipeline Facebook is in the news as some advertisers have dropped ads from the network after it was highlighted that major corporate brands where getting pop up ads close, or next to, offensive updates and images The US closes Costa-Rican based Liberty Reserve stating that is was the bank of choice for the criminal underworld and that it had laundered more than $6bn since 2006, and details that it had more than 1m users worldwide Rupert Murdoch plans to literally leave his mark on the publishing arm, when it sis spun off next month, as the new logo for the unit is based on his handwriting Overnight Market News An economic advisor to Japanese PM Shinzo Abe has told South Korean critics that they should stop blaming Japan and instead urges them to pressure their own central bank to have ‘a proper monetary policy’ Fitch details that Chinese banks added assets to their balance sheet at the rate of an entire US banking system in just five years, with the agency stating that this was highly indicative of a brewing crisis Local press suggests that IPOs may resume in China from August, while the Shanghai Daily writes that after hours trading on the Shanghai futures market is expected within two months Top FX The Aussie dollar has fallen to its lowest level against the US cents since October 2011, trading at $95.69, and the Canadian dollar has fallen to its lowest level for a year on the increasing expectation for the beginning of the end of Fed QE Economic Data Due 08:55 German May Unemployment Change, 5k exp. 4k previous 09:00 Eurozone April M3, 3.0% exp. 2.6% previous 15:00 Bank of Canada Rate 1.0% exp. 1.0% previous Economic Events Former Fed Chairman Volcker Speaks in New York Bank of Canada Rate 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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