Day Ahead

Wednesday, June 19, 2013, Marketing Communication Opening Call The FTSE is called to open around unchanged this morning UK Corporate Announcements Micro Focus announces a full year pre-tax profit of £123m up 2.8% although revenues slipped 4.8% Imagination Technologies reports a full year pre-tax profit of £34.3m with revenues up 19% to £151.5m Berkeley Group announces a full year operating profit of £280m on revenues of £137m and an NAV of £10.09 at year end JD Sports states that it is trading in line with the market expectations Weir Group details that trading in April and May was in line UK News Vodafone has reportedly lifted its offer for Kabel Deutschland to around €7.5bn in a move to bring the German cable company into talks The G8 countries have agreed to work together more closely on global tax evasion, as they detail a set of core principles to reveal the true owners of companies Co-Op Bank has been cut four notches by Moody’s after its latest bond plans, and has also been cut by S&P The Bank of England is due to reveal how much capital UK banks need in the first major move since it took back the financial regulation role FTSE 100 Dividends: Experian PLC, EXPN, ($0.24),  Land Securities Group PLC, LAND, (n/a),  Severn Trent PLC, SVT, (45.51),  United Utilities Group PLC, UU/, (22.88) FTSE 100 Dividend Impact: 1.87 points FTSE 250 Dividends: 3i Group PLC, III, (5.40),  3i Infrastructure PLC, 3IN, (3.52),  Aveva Group PLC, AVV, (19.50),  Electrocomponents PLC, ECM, (6.75),  Invensys PLC, ISYS, (2.85),  Personal Assets Trust PLC/Fund, PNL, (140),  Restaurant Group PLC/The, RTN, (7.30) FTSE Small Share: Edinburgh Worldwide Investment Trust PLC, EWI, (.50),  Hansa Trust PLC, HAN, (11.50),  S&U PLC, SUS, (20),  Value and Income Trust PLC, VIN, (4.30) UK Analyst Changes Aggreko Cut To Neutral Vs Buy At Ubs Daily Mail Cut To Sell Vs Hold At Deutsche Bank Kingfisher Raised To Neutral Vs Underperform At Bofaml Lancashire Cut To Neutral Vs Overweight At Jpmorgan Pennon Cut To Sector Perform Vs Outperform At Rbc Rio Tinto Added To Citi Strategy Most Favored List Severn Trent Cut To Underperform Vs Sector Perform At Rbc UK Insider Buying Avation Plc, (AVAP), 1 insider(s) bought 300000 shares, £0.62 Brooks Macdonald Gro, (BRK), 1 insider(s) bought 3000 shares, £14.26 Cls Holdings Plc, (CLI), 1 insider(s) bought 8000 shares, £9.66 Eleco Plc, (ELCO), 1 insider(s) bought 52500 shares, £0.1 F&C Asset Management, (FCAM), 1 insider(s) bought 12000 shares, £0.95 Falkland Islands Hldng, (FKL), 4 insider(s) bought 27500 shares, £3.5 Goldplat Plc, (GDP), 1 insider(s) bought 126700 shares, £0.08 Lloyds Banking Group, (LLOY), 1 insider(s) bought 81155 shares, £0.61 Mcbride Plc, (MCB), 1 insider(s) bought 10000 shares, £1.11 Moss Bros Group Plc, (MOSB), 1 insider(s) bought 20000 shares, £0.57 Prudential Plc, (PRU), 1 insider(s) bought 5000 shares, £10.44 Shanta Gold Ltd, (SHG), 1 insider(s) bought 2300000 shares, £0.12 Sse Plc, (SSE), 1 insider(s) bought 300 shares, £15.13 Trap Oil Group Plc, (TRAP), 1 insider(s) bought 280000 shares, £0.11 Xchanging Plc, (XCH), 1 insider(s) bought 39845 shares, £1.34 UK Insider Selling Aveva Group Plc, (AVV),  insider(s) sold 19457 shares, £22.26 Brooks Macdonald Grou, (BRK), 1 insider(s) sold 3000 shares, £14.26 Hilton Food Group Plc, (HFG),  insider(s) sold 106470 shares, £3.55 Jardine Lloyd Thompson, (JLT),  insider(s) sold 67997 shares, £8.97 FTSE 100 Movers Major European Companies Reporting Berkeley Group Holdings PLC, R, 1.438, Hennes & Mauritz AB, Q2, 2.999, Imagination Technologies Group PLC, R, 0.044 European Market Summary Alcatel is expected to announce details of its strategic plan, including expected asset sales, and restructuring Fitch has confirmed its AAA ratings on Switzerland and keeps a stable outlook Nokia is in the news on reports of possible interest from Huawei Global Market Footprint Major US Stock Movers After Hours Adobe Systems gained 5% as it announced a Q2 adjusted EPS of 221k, citing strength on its Creative Cloud S&P 500 Companies Reporting Micron Technology Inc, Q3, 0.014,  Red Hat Inc, Q1, 0.31,  Jabil Circuit Inc, Q3, 0.543 US Market News The WSJ writes that signs of a stronger US economy were increasing and that these signs were ‘rippling through the bond markets’ as it prepares for possible moves in interest rates in the quarters ahead, and that this move may be correlated with the departure on Ben Bernanke A group representing 225k US doctors has called on the on the government to ban the advertising of high energy caffeinated drinks to those under 18, while Nickelodeon responds to criticisms of unhealthy TV ads as stating its job was children’s entertainment, not nutrition Reportedly RGM Advisors and Allston Trading are in early merger discussion, the two are the largest independent US high frequency trading firms Votorantim Cimentos the largest cement producer in Brazil has scrapped its planned IPO Carl Icahn has urged Dell to buy back shares at $14, spending $15.4bn as he continues in his efforts to block the planned LBO by Michael Dell Overnight Market News Hong Kong’s central bank confirms that its benchmark interest rate manipulation investigations were widening to include HSBC as it continues to scan ‘millions of messages’ Softbank looks set to remain as the leading contender to acquire Sprint Nextel with Sprint shareholders able to vote on the planned move June 25 Guotai Asset Management is to start raising funds for one of China’s first Gold ETF’s which would allow China institutional investors an efficient way of avoiding rules on the ownership of physical gold Top FX The FOMC announces its decision on rates today, with no change in rates expected the focus remains on an any accompanying statements on QE Economic Data Due 09:30 UK Bank of England Minutes 19:00 US Fed Rate Announcement 0.25% exp. 0.25% previous Economic Events 19:30 Bernanke Press Conference Fed Rates 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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