Day Ahead

Wednesday, June 26, 2013, Marketing Communication Opening Call The FTSE is seen opening up around 10 points higher today UK Corporate Announcements Stagecoach announces a full year revenue of £2.8bn largely in line with the forecasts, with its CEO stating that results overall were ahead of market expectations Bunzl states that trading has been in line with its previous guidance and also that it sees a promising pipeline of acquisition opportunities Direct Line announces that it is to make 2,000 jobs redundant and that restructuring costs are now estimated at £180m UK News Mervyn King suggests that many homeowners in their thirties and forties have unsustainably large mortgage and will find it very difficult when mortgages interest rates return to normal levels The OFT is expected to finalise its view this week if the payday lending industry should be reviewed to the Competition Commission, ahead of a planned ‘summit’ between the lenders, regulators and government ministers Germany is the latest country to publicly criticise Britain over GCHQ’s methods Balfour Beatty details that it has sold its stake in Exeter Airport FTSE 100 Dividends: Next PLC, NXT, (74),  Compass Group PLC, CPG, (8),  Tate & Lyle PLC, TATE, (18.80) FTSE 250 Dividends: Dairy Crest Group PLC, DCG, (15),  ICAP PLC, IAP, (15.40),  Kcom Group PLC, KCOM, (2.97),  Mercantile Investment Trust PLC, MRC, (8),  Mitie Group PLC, MTO, (5.70),  N Brown Group PLC, BWNG, (8.23),  PayPoint PLC, PAY, (15),  PayPoint PLC, PAY, (20.20),  Petropavlovsk PLC, POG, (2), TR Property Investment Trust PLC - Ordinary Shares, TRY, (4.35) FTSE Small Share: BlackRock Commodities Income Investment Trust PLC, BRCI, (1.475),  Braemar Shipping Services PLC, BMS, (17),  Fuller Smith & Turner, FSTA, (8.35),  Henderson High Income Trust PLC, HHI, (2.075),  Hogg Robinson Group PLC, HRG, (1.50),  Invesco Income Growth Trust PLC, IVI, (3.55),  Laura Ashley Holdings PLC, ALY, (1),  Montanaro UK Smaller Companies Investment Trust PLC, MTU, (6.76),  Norcros PLC, NXR, (.305), Schroder Income Growth Fund PLC, SCF, (2),  UK Mail Group PLC, UKM, (12.40) UK Analyst Changes Croda Raised To Neutral Vs Sell At Ubs Elementis Raised To Buy Vs Neutral At Ubs Eurotunnel Rated New Buy At Citi, Pt Eu7.50 G4S Raised To Outperform Vs Sector Perform At Rbc Icap Cut To Hold Vs Buy At Socgen Land Securities Added To Analyst Focus List At Jpmorgan Lonmin Raised To Neutral Vs Sell At Ubs Tesco Rated New Sell At Socgen, Pt 290P Victrex Raised To Neutral Vs Sell At Ubs UK Insider Buying Ariana Resources Plc, (AAU), 1 insider(s) bought 350000 shares, £0.01 Asian Citrus Holdings L, (ACHL), 1 insider(s) bought 43000 shares, £0.22 Chaarat Gold Holdings, (CGH), 1 insider(s) bought 272000 shares, £0.1 Diageo Plc, (DGE), 1 insider(s) bought 4000 shares, £18.5 Lo-Q Plc, (LOQ), 1 insider(s) bought 5000 shares, £5.28 Micro Focus Internatio, (MCRO), 1 insider(s) bought 10000 shares, £6.7 Prudential Plc, (PRU), 1 insider(s) bought 5000 shares, £10.37 Rotork Plc, (ROR), 1 insider(s) bought 500 shares, £25.32 Sabmiller Plc, (SAB), 1 insider(s) bought 404 shares, £30.39 UK Insider Selling None Detailed FTSE 100 Movers Major European Companies Reporting Stagecoach Group PLC, R, 0.285 European Market Summary Dublin is reportedly concerned that the recent tapes covering conversations between Allied Irish Bank senior executives laughing at how it easy it was to dupe government authorities could affect Ireland’s chances of getting debt relief from other EU members Total is reportedly looking at bidding for rights to explore for shale gas in the UK Italian police have raided 41 local football clubs including the vast majority of the Serie A, as part of a money laundering investigation The co-CEO of SAP states that its European Cloud business is growing in double digits Italy sells €8bn in bills at 11:00 Global Market Footprint Major US Stock Movers After Hours Synaptics gained 14% as it announces higher than expected mobile revenues S&P 500 Companies Reporting Bed Bath & Beyond Inc, Q1, 0.934,  General Mills Inc, Q4, 0.539,  Monsanto Co, Q3, 1.619,  Paychex Inc, Q4, 0.375 US Market News US analysts are increasingly vocal that the recent ‘surge’ in bond yields could impact on the fragile recovery in the balance sheets of numerous global banks Las Vegas Sands announces that its CFO is to leave end July, the casino group is under investigation for alleged money laundering Stratasys the 3D printer maker is in the news as it states it plans acquisitions to expand its devices that can print metals Overnight Market News The Peoples Bank of China states that the liquidity risk in the country was controllable and states that it will use tools to safeguard stability in the money markets Top FX New Zealand’s finance minister states that the nation’s currency was still ‘a bit overvalued’ Top Commodity Morningstar suggests that Australia’s Newcrest Mining looks vulnerable to an approach from the likes of Newmont Mining as it has lost more than 50% of its share price following the moves in gold in recent months While Gold looks set for its worst quarterly return since the 1920’s as it is currently down 22% from April and has moved to lows last seen in August 2010 Economic Data Due 11:00 UK June CBI Reported Sales, -11 previous 13:30 US Q1 GDP annualised 2.4% exp. 2.4% previous Economic Events None Detailed US GDP 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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