Day Ahead

Wednesday, August 7, 2013, Marketing Communication Opening Call The FTSE is called down around 15 points UK Corporate Announcements Tui Travel announces a Q3 underlying operating profit of £76m from $74m and states it sees a strong demand across all its key markets Ferrexpo states that it has performed well in H1 and that its capital projects were progressing well Old Mutual reports an H1 adjusted operating profit of £801m up 14% and details funds under management of £289bn up 9% Randgold Resources details Q2 gold sales of $252.8m from $346.6m and states that higher output and lower costs should ensure profits UK News Fitch has been the latest to warn that the UK ‘Help to Buy’ scheme could create a new housing bubble, as house prices within the scope of the scheme are expected to be lifted significantly as the supply and demand shifts heavily The chief of Everything Everywhere suggests that a London IPO was an option FTSE 100 Dividends: Barclays PLC, BARC, (1),  BG Group PLC, BG/, (8.51),  BP PLC, BP/, ($0.09),  BT Group PLC, BT/A, (6.50),  GlaxoSmithKline PLC, GSK, (18),  Reckitt Benckiser Group PLC, RB/, (60),  Reed Elsevier PLC, REL, (6.65),  Unilever PLC, ULVR, (23.12) FTSE 250 Dividends: Countrywide PLC, CWD, (2),  Dialight PLC, DIA, (4.90),  Greene King PLC, GNK, (19.45),  Hiscox Ltd, HSX, (n/a),  Jupiter Fund Management PLC, JUP, (3.50),  Pennon Group PLC, PNN, (19.70),  QinetiQ Group PLC, QQ/, (2.70),  RPC Group PLC, RPC, (10.60),  Spirent Communications PLC, SPT, (1.53),  ST Modwen Properties PLC, SMP, (1.33),  Synergy Health PLC, SYR, (12.80),  UK Commercial Property Trust Ltd/fund, UKCM, (1.3125),  Utilico Emerging Markets Ltd, UEM, (1.525) FTSE Small Share: Avon Rubber PLC, AVON, (1.44),  Schroder Real Estate Investment Trust Ltd, SREI, (n/a),  LSL Property Services PLC, LSL, (3.30),  4imprint Group PLC, FOUR, (5.60),  Henderson Far East Income Ltd, HFEL, (4.40),  Dunedin Income Growth Investment Trust PLC, DIG, (2.575),  Ecofin Water & Power Opportunities PLC/fund, ECWO, (1.625),  Standard Life Investment Property Income Trust PLC, SLI, (1.133),  JPMorgan Claverhouse Investment Trust PLC, JCH, (4.50),  Aberdeen UK Tracker Trust PLC, AUKT, (2.75),  City Natural Resources High Yield Trust PLC, CYN, (2.92),  Polar Capital Global Healthcare Growth & Income PLC, PCGH, (1.80) UK Analyst Changes Drax PT Raised to 770p vs 700p at Morgan Stanley Etalon Group Added To Ceemea Focus List At Goldman Intu Properties Cut To Sell Vs Neutral At Goldman StanChart Raised to 'Sector Perform' at RBC Capital Standard Chartered PT Raised to 1,640p at Morgan Stanley UK Insider Buying None Detailed UK Insider Selling Brammer Plc, (BRAM),  insider(s) sold 24277 shares, £4.15 Vedanta Resources Plc, (VED),  insider(s) sold 1731 shares, £12.06 FTSE 100 Movers Major European Companies Reporting Andritz AG, Q2, 0.543,  Axel Springer AG, Q2, 0.743,  Banca Monte dei Paschi di Siena SpA, S1, 0,  Beiersdorf AG, Q2, 0.616,  Brenntag AG, Q2, 1.538,  Corio NV, S1, 1.357,  Delta Lloyd NV, S1, 0,  Fraport AG Frankfurt Airport Services Worldwide, Q2, 0.815,  Freenet AG, Q2, 0.395,  Hannover Rueckversicherung SE, Q2, 1.43,  ING Groep NV, Q2, 0.232,  Lundin Petroleum AB, Q2, 0.106,  Old Mutual PLC, S1, 0.1,  Randgold Resources Ltd, S1, 0,  Sampo, Q2, 0.631,  Securitas AB, Q2, 1.308,  Swisscom AG, Q2, 8.134,  Symrise AG, Q2, 0.405,  TDC A/S, Q2, 0.906,  Tod's SpA, S1, 2.46,  TUI Travel PLC, Q3, 0,  Voestalpine AG, Q1, 0.687 European Market Summary UBS agrees to pay $50m to settle charges brought by the SEC that it was misleading in the sale of some CDO’s Germany sells €4bn of Bonds at 11:00 Global Market Footprint Major US Stock Movers After Hours Finisar gained 20% after hours as it announces increased sales in 10G, 50G and 100G Ethernet transceivers, the moves also buoyed the likes of JDS Uniphase and Ciena Corp both up over 3% in late trading Synacor fell 9% as it announced a slow Q2 and also cuts its full year revenue projections S&P 500 Companies Reporting CenturyLink Inc, Q2, 0.666,  Devon Energy Corp, Q2, 0.95,  Duke Energy Corp, Q2, 0.93,  Expeditors International of Washington Inc, Q2, 0.429,  Frontier Communications Corp, Q2, 0.059,  Marsh & McLennan Cos Inc, Q2, 0.673,  Molex Inc, Q4, 0.346,  Mondelez International Inc, Q2, 0.342,  Pepco Holdings Inc, Q2, 0.233,  Prudential Financial Inc, Q2, 1.992,  Ralph Lauren Corp, Q1, 1.944,  Time Warner Inc, Q2, 0.76 US Market News US press details that the pilot of the SouthWest Aircraft that crashed heavily at LaGuardia in July, breaking its front landing gear, took control of the aircraft from the first officer, just shortly ahead of the landing, investigators are yet to discover any mechanical failures ahead of the landing Michael Bloomberg leaves his third term as NY mayor in December and he stated in a speech that he was proud of the virtuous circle he had created where spending on schools, public safety and amenities had buoyed population numbers, but does use Detroit as an example on where it can move to a viscous circle if managed incorrectly McDonalds confirms that around 90% of its 82,000 staff in the UK work on the ‘zero-hours’ contracts, which is coming under increasing political pressure Walt Disney detailed amongst its results yesterday that it may take a loss of up to $190m on its Lone Ranger film, which was the subject of major delays and film reshoots General Electric details that it is abandoning plans to manufacture solar panels and sells its technology in the sector to First Solar, for a 2% stake in the Solar group The US property market has grown enough in recent years for Blackstone to reportedly hire Morgan Stanley and JP Morgan chase to start to explore a possible private sale, or IPO, of its La Quinta hotel chain TPG has asked investors in its $19bn flagship fund if it can have an extra year to spend $3bn of capital, as it struggles to find good deals in the recovering global markets Bloomberg Social Velocity Alerts, BSV No Alerts Today Overnight Market News Asian markets has a softer session overnight, seemingly due to the increasing belief that the US will start the tapering program in the coming weeks Top FX The Brazilian real has come off from the four year lows on expectations that its central bank will intervene Carney is due today to give the central banks assessment of the use of interest rate guidance Economic Data Due 10:30 UK Bank of England Inflation Report Economic Events 10:30 Carney Speaks in London 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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