Day Ahead

Thursday, July 11, 2013, Marketing Communication Opening Call The FTSE is called to open up over 100 points today UK Corporate Announcements Ashmore announces that market conditions were more challenging toward quarter end Balfour Beatty details that UK construction was week in H1 and states that orders were unchanged at £14bn Hays states that overall performance was stable through the quarter but states that the permanent jobs market was fragile globally Moneysupermarket announces it now sees H1 adjusted EBITDA coming in ahead of last year Babcock states that the markets remain positive and that it stays confident it will make further strong progress Associated British Foods states that group revenues year to date have gained 9% and sees pressure on sugar prices in Europe and beyond in 2017 Supergroup announces a full year underlying operating profit of £51.9m on full year sales of £360.4m from £313.8m Telford Homes states that it continues to progress well and demand stays strong Brainjuicer states that it is in line with its full year targets UK News Ofcom announces new prices for landline and broadband services  Petropavolvsk responds to the recent share price falls, of around 50% in the past month, and states that it is not aware of any particular reason for the falls The Telegraph highlights the continuing change in UK demographics and suggests that most babies will be born outside of marriage by 2016 The paper also writes that the HS2 line planned could bring in additional workers into London, counter some claims from the government that the line would take jobs to the North Ahead of the planned Royal Mail IPO The Times writes on how the ABI has stated that no more than three large investment banks should help market shares in public listings Rolls Royse is reportedly looking at a modern version of the clipper ships as the global tanker industry comes under increasing pressure to cut emissions 10:30 the UK sells £2.5bn in Bonds UK Analyst Changes Genel Energy Raised To Buy Vs Neutral At Ubs Icap Cut To Sell Vs Neutral At Ubs Melrose Industries Raised To Buy Vs Neutral At Ubs Rsa Rated New Outperform At Bernstein; Pt 150P Saipem, Petrofac Rated New Hold At Berenberg Spectris Cut To Neutral Vs Buy At Ubs Tullett Prebon Cut To Sell Vs Neutral At Ubs UK Insider Buying Active Energy Group Pl, (AEG), 1 insider(s) bought 360000 shares, £0.03 Avanti Communications, (AVN), 2 insider(s) bought 24200 shares, £1.7 Castings Plc, (CGS), 1 insider(s) bought 25000 shares, £3.93 Hardide Plc, (HDD), 2 insider(s) bought 1509434 shares, £0.01 Naibu Global Internati, (NBU), 3 insider(s) bought 1906207 shares, £0.58 Pittards Plc, (PTD), 1 insider(s) bought 200000 shares, £0.02 UK Insider Selling Cml Microsystems Plc, (CML), 1 insider(s) sold 15000 shares, £4.73 Spaceandpeople Plc, (SAL),  insider(s) sold 100000 shares, £0.95 Tate & Lyle Plc, (TATE),  insider(s) sold 131933 shares, £8.8 Uk Mail Group Plc, (UKM),  insider(s) sold 520000 shares, £5.55 FTSE 100 Movers Major European Companies Reporting DNB ASA, Q2, 2.196,  Getinge AB, Q2, 1.925,  Suedzucker AG, Q1, 0.583 European Market Summary Praktiker states that due to high debt and lack of liquidity it is weighing filing insolvency petitions The ECB is due to publish its monthly report today Italy sells up to€6.5bn in Bonds at 11:00 Global Market Footprint Major US Stock Movers After Hours Sunshine Heart gained 7% as it receives a new outperform rating from Oppenheimer Pricesmart came off 3% as it announces Q3 EPS under the forecasts S&P 500 Companies Reporting Progressive Corp/The, Q2, 0.404 US Market News Ben Bernanke responded to the recent market jitters and stated yesterday that while bond purchases could start to be rolled back later this year the Fed officials were not abandoning the wider commitment to stimulus policies S&P 500 Futures are up over 1% on the news and have moved close to posting fresh highs for the year The WSJ writes that a new survey continues to suggest that insider buying can guide the market on share price performance, as a review of stock trades by insiders ahead of those companies filing for bankruptcy were skewed to selling Newedge has been fined $9.5m for failing to adequately monitor computer drive trading clients that looked to manipulate the markets for nearly four years Amazon may be buoyed as analysts suggest it may get a market advantage following the recent antitrust ruling that Apple colluded to increase e-book prices Overnight Market News Bank of Japan states that it retains its plan for a 60-70tn annual rise in the monetary base and maintains its 2015 core CPI forecasts at 1.9% The Bank of Korea has left its interest rates unchanged at 2.5% China Daily writes that China’s State Council has set a deadline where government officials will need to disclose their spending and overseas trips in attempt to deal with graft concerns Top FX The pound has bounced off the recent three year lows and gained further following the comments from Bernanke Economic Data Due 13:30 US Initial Jobless Claims, 335k exp. 343k previous 19:00 US June Monthly Budget Statement, $40.0bn exp. Economic Events None Detailed US Initial Jobless Claims 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”). 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