Day Ahead

Friday, June 7, 2013, Marketing Communication Opening Call The FTSE is called up around 10 points higher this morning UK Corporate Announcements Bellway sees legal completions up 7% in the fiscal year with visitor numbers ahead of expectations and that government assistance helped in 360 reservations, and that the average home price was up 5% from last year Sthree details that gross profit slipped 6% but gained 3% on constant currencies and states that it has made further progress on key strategic priorities Fuller Smith & Turner announces full year revenues of £271.5m and an EBITDA of £51.2m with managed pubs, hotel LFL sales up 2.1% Kcom repost a full year pre-tax profit of £52.7m from £51.1m and a full year EBIDTA of £76.9m from £77.9m and states that trading has been in line with the expectations Horny reports a full year pre-tax profit of £0.15m from £4.5m and states that consumer confidence stays weak UK News Centrica is close to buying a stake in UK shale fields BT is in the news after a parliamentary committee has criticised the UK government on how it handled investigations of equipment made in China by Huawei was used at BT The FT suggests that Dalian Wanda is close to buy UK based boatbuilder Sunseeker for £300m The UK sells £2.5bn in Bills at 11:10 UK Analyst Changes Aberdeen Asset Cut To Underperform Vs Neutral At Bofaml BT Group Raised to 'Overweight' at Barclays Bt Group Raised To Overweight Vs Equalweight At Barclays Eu Financial Services Raised To Overweight By Citi Strategists Eu Media Cut To Neutral By Citi Strategists European Travel Raised To Overweight By Citi Strategists Gem Diamonds Raised To Buy Vs Neutral At Goldman Glaxosmithkline Raised To Hold Vs Underweight At Liberum Helical Bar Cut To Neutral Vs Overweight At Jpmorgan Invensys Removed From Ubs’S M&A Watch List Land Securities Raised To Overweight Vs Neutral At Jpmorgan Millennium & Copthorne Cut To Neutral Vs Buy At Goldman Petra Diamonds Raised To Buy Vs Neutral At Goldman Shaftesbury Cut To Underweight Vs Neutral At Jpmorgan Songbird Raised To Overweight Vs Neutral At Jpmorgan Underweight JD Wetherspoon, Buybacks Unlikely, JPMorgan Says Wolfson Micro Cut To Neutral Vs Overweight At Jpmorgan UK Insider Buying Cyan Holdings Plc, (CYAN), 2 insider(s) bought 3000000 shares, £0.01 UK Insider Selling Lloyds Banking Group P, (LLOY), 1 insider(s) sold 117706 shares, £0.62 FTSE 100 Movers Major European Companies Reporting None Detailed European Market Summary The sell-off continued in European markets yesterday, Mario Draghi failed to create speculation on additional stimulus measures, after the ECB held rates yesterday, which acted as a catalysts for continued profit taking First Lady’s are in the news as China is given offence as Michelle Obama will not be in California when President Obama meets Chinese President Xi Jingping and his wife, stating she was too busy in Washington, and Lyudmila Putin announces that she is to divorce Vladimir Putin citing demands of presidential life Spanish press suggests that Banco Santander could raise up to £5bn through an IPO of its UK unit in 2014 Global Market Footprint Major US Stock Movers After Hours Iron Mountain fell 15.7% after hours as it announces that there may be a delay in the IRS ruling on its conversion to REIT status, the move also pulled the likes of Equinix and Lamar lower Quiksilver fell 10% after hours as it announces an unexpected Q2 loss, with revenues missing the forecasts S&P 500 Companies Reporting None Detailed US Market News Apple is reportedly looking at an Iphone trade in program, in order to boost sales, and to spread sales more evenly across future product launches The likes of Yahoo, Facebook and Google have responded to press reports and user concerns by stating that they have not provided direct government access to its servers, as part of the NSA data collection programs The FT highlights how Facebook has fallen over 20% in recent weeks as investors become increasingly concerned over social networks growth prospects, and as te sector has been the focus of a series of damaging news stories Staying with tech news Google has filed a patent on technology that asks users to pull a series of faces in order to unlock their android devices, based on users facial profiles The Fed continues to manage the debate on QE, with Bloomberg detailing that economists have cut their estimates for how much QE will be cut to $65bn a month from October, from the current level of $85bn, as the discussion has shifted in recent weeks from when, too how much will it be cut S&P has revised its outlook on Brazil to negative from stable citing its sluggish economic growth While Bloomberg details that bearish positions on the world’s largest emerging market bond ETF has moved to the highest level on record Overnight Market News The Shanghai Futures Exchange details that it plans to launch an asphalt contract mid July, to give traders access to major road/infrastructure projects, and also exposure to crude, a major component in its manufacture, seen by local press as a step towards China’s own crude oil futures contract The Nikkei has now slipped 20% from its recent highs, trading at 12,884, but still remains sharply higher for the year and from 8600 trade in November 2012 Top FX The yen looks set for the largest weekly advance since 2008, as the Finance Minister states that he would not intervene to weaken the currency, moving 5.55 so far this week, and 2.2% just yesterday Top Commodity Bloomberg details that bearish positions on the world’s largest emerging market bond ETF has moved to the highest level on record, short interest on the JP Morgan USD Emerging Markets Bond Fund moved to 8.5m this week, 18% of the outstanding shares Economic Data Due 11:00 German April Industrial Production, 0.3% exp. 1.2% previous 13:30 US May Unemployment Rate, 7.5% exp. 7.5% previous Economic Events None Detailed US Non Farm Payrolls 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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