Day Ahead

Friday, May 31, 2013, Marketing Communication Opening Call The FTSE is called to open around unchanged this morning UK Corporate Announcements Londonmetric details a full year pre-tax profit of £39.9m from £19.5m and states that it begins its residential portfolio reduction Theo Fennell states that it remains in offer talks with EME and extends the deadline to end June UK News Vince Cable has stated that a privatisation of RBS was not urgent, as the bank narrows the field amongst the bidders for the hundreds of its branches it is putting up for sale, reportedly rejecting an offer from JC Flowers The FT suggests that Smiths Group is considering a sale of its £2bn medical division Tui Travel announces that it is to buy 60 Boeing aircraft value at $6.1bn list price Lloyds announces that sale of its international private banking business to UBP and also auctions $8.7bn of its mortgage bonds, in the largest sale of this type of debt for three years The UK sells £2.5bn in Bills at 11:10 Also we would like to congratulate Tight Lipped, and jockey Ryan Tate, for winning the Cantor Capital Handicap, 18:10 at Sandown yesterday evening, we were hoping that ‘Significant Move’ would make a good showing so we could write a market based pun of some kind, but it ran home second to last in the 9 horse race 18:10 Sandown Cantor Capital Handicap Winner, Tight Lipped UK Analyst Changes Astrazeneca Pt Raised To 3,500P Vs 3,000P At Citi Bellway Added To Ubs Europe Building Most Preferred List Darty Added To Ubs Europe General Retail Most Preferred Halfords Exits Ubs Europe General Retail Least Preferred Halfords Group Raised To Buy Vs Sell At Ubs Imagination Technologies Cut To Underperform Vs Neutral: Bofaml Kingfisher Exits Ubs Europe General Retail Least Preferred List Lonmin Raised To Overweight Vs Equalweight At Morgan Stanley Persimmon Cut To Neutral Vs Buy At Ubs Taylor Wimpey Exits Ubs Europe Building Most Preferred List Wh Smith Added To Ubs Europe General Retail Least Preferred Wh Smith Exits Ubs Europe General Retail Most Preferred List UK Insider Buying Bae Systems Plc, (BA/), 1 insider(s) bought 26356 shares, £4.1 Brewin Dolphin Holding, (BRW), 4 insider(s) bought 24350 shares, £2.1 Brown (N) Group Plc, (BWNG), 2 insider(s) bought 16937 shares, £4.64 H.R. Owen Plc, (HRO), 1 insider(s) bought 100000 shares, £1.14 Manx Financial Group P, (MFX), 1 insider(s) bought 321147 shares, £0.08 National Grid Plc, (NG/), 1 insider(s) bought 18800 shares, £7.98 Sabmiller Plc, (SAB), 1 insider(s) bought 10000 shares, £34.36 Salamander Energy Plc, (SMDR), 3 insider(s) bought 38014 shares, £1.67 Uk Mail Group Plc, (UKM), 2 insider(s) bought 11841 shares, £5.1 United Utilities Group, (UU/), 1 insider(s) bought 3924 shares, £7.72 UK Insider Selling Avocet Mining Plc, (AVM), 1 insider(s) sold 31346 shares, £0.12 Berendsen Plc, (BRSN),  insider(s) sold 37805 shares, £7.66 Booker Group Plc, (BOK), 3 insider(s) sold 2018547 shares, £1.3 Dialight Plc, (DIA),  insider(s) sold 54148 shares, £13.05 Mothercare Plc, (MTC), 1 insider(s) sold 33987 shares, £3.45 Smith & Nephew Plc, (SN/), 1 insider(s) sold 8262 shares, £7.81 Spaceandpeople Plc, (SAL), 1 insider(s) sold 25000 shares, £1.04 United Utilities Group, (UU/), 1 insider(s) sold 3924 shares, £7.7 FTSE 100 Movers Major European Companies Reporting None Detailed European Market Summary Merkel has stated to Hollande that reform is the price of an EU deficit waiver A study has suggested that there is no benefit in taking a double dose of Roche’s Tamiflu The Telegraph suggests that the European countries pushing for a £30bn financial transaction tax are seen scaling back their plans after the international opposition to the move The head of the Italian banking association has said that bad loans at Italian banks may keep rising through to 2014 Global Market Footprint Major US Stock Movers After Hours Omnivision gained a solid 22% after hours as it announced Q1 revenues of $355-390m ahead of the forecasted range Uroplasty gained 16% as it received a positive coverage decision from Wisconsin Physicians Services Palo Alto Networks fell 15% after hours as it announces Q3 revenues under the estimates and gave a muted outlook for Q4 S&P 500 Companies Reporting None Detailed US Market News Neimus Marcus announced yesterday that it was rejecting a merger proposal with Saks Google is set to launch its MOTO X, a low cost smart phone manufactured in Texas Goldman details that it has hired 350 summer analysts from a 17,000 pool of applicants Overnight Market News Local press details that some analysts have concerns on whether Shuanghui International will be successful in its moves to acquire Smithfield Foods as its $4.7bn bid may be too low The Shanghai Securities News details how assets managed by the trust industry in China are now around $1.63tn Sony has reportedly working with Morgan Stanley as it continues to investigate the possibility of an IPO of its entertainment unit Asian markets are due to end the month lower, for the first time since October last year when the sharp bull trend accelerated Top Commodity China is on course to have its rice consumption top its production for the first time since 2006, which would make it the world’s largest importer, demand fro new supplies has been strong in recent week’s as some trader’s have switched to cheaper imports after high traces of cadmium were found in local crops Economic Data Due 00:30 Japan April Jobless Rate, 4.1% exp. 4.1% previous 10:00 Eurozone May CPI Estimates, 1.4% exp. 1.2% previous 13:30 US April Personal Income, 0.2% exp. 0.2% previous 14:45 US May University of Michigan Confidence, 83.9 exp. 83.7 previous Economic Events Bank of Japan Deputy Governor Speaks US Personal Income 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). Major European Companies defined as those companies in the STOXX Europe 600 Index FTSE 100 Movers, Blue >0.25%, Green <0.25% > -0.25%, Red < -0.25%, Font size dependent on percentage size of move This note is compiled using information / charts from financial data providers such as Bloomberg and Reuters, as well as from the general financial / business media Regulatory Disclaimer This market commentary note (“note”) has been issued by Cantor Fitzgerald Europe (“CFE”), which is authorised and regulated by the Financial Conduct Authority (“FCA”). Cantor Index is a trading name of CFE. This note is defined by the FCA as a marketing communication. This note has been prepared and distributed for information purposes only and represents the personal views and opinions of the sender. This note is not “investment research”, a “research recommendation” or a product of the Research Department. 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