Day Ahead

Thursday, August 8, 2013, Marketing Communication Opening Call The FTSE is called to open up around 10 points higher today UK Corporate Announcements Ladbrokes reports H1 revenues of £563m from £529m and an operating profit of £85.7m down 19.8% Amec announces H1 EBITA of £158m up 4% and an adjusted EPS of 40.4p up 16% Aviva states that its performance has been satisfactory and details an H1 operating profit of £1.008bn up 5% Flybe reports group revenues of £164m and states that it is trading in line with management expectations Schroders reports an H1 pre-tax profit of £221.7m from £177.4m and assets under management of £235.7bn from £194.6bn Standard Life announces an H1 pre-tax operating profit of £304m from £286m with AUM of £232bn from £218bn Coca Cola HBC states that it sees challenging trading conditions for the full year as it details Q2 net sales of €1.95bn, FTSE is expected to decide this month if Coca Cola Hellenic Bottling Co is to be included in the FTSE 100, after its transfer from the Greek bourse Cobham reports an H1 pre-tax profit of £137m from £141m and maintains its full year guidance Mondi announces an H1 underlying operating profit of €366m up 35% Spirax Sarco reports an H1 pre-tax profit of £65.5m on sales of £331m and details that Nick Anderson is to replace Vernon as CEO when he retires in January Savills announces an H1 pre-tax profit of £21.4m up 25% and maintains its outlook for H2 UK News Mark Carney naturally dominates much of the business press today as he pledges to keep the record low interest rates until 2015, using the employment rate of 7% as the threshold to monitor Rio Tinto details that it is to mothball an Aluminium plant in Quebec with immediate effect, citing the slowdown in prices causing the capacity at the unit to be ‘unsustainable’ The Telegraph writes that Philip Green, the former chief of United Utilities is to head up a bid to buy the 315 branches from RBS Sports Direct is the focus of a lawsuit from a former employee over its use of zero hour contracts 10:30 the UK sells £1.3bn in 0.75% inflation linked bonds UK Analyst Changes Carillion Rated New Equalweight At Morgan Stanley; Pt 345P Delta Lloyd PT Cut to EU18 vs EU20 at Mediobanca Ferrexpo Cut To Neutral Vs Buy At Goldman Rotork Raised To Buy Vs Hold At Jefferies Serco Removed From Least Preferred Support Services Shrs At Ubs Shell Cut To Equalweight Vs Overweight At Morgan Stanley UK Insider Buying Rolls-Royce Holdings Pl, (),  insider(s) bought 924 shares, £11.96 UK Insider Selling Inchcape Plc, (INCH),  insider(s) sold 7900 shares, £6.32 Vedanta Resources Plc, (VED),  insider(s) sold 1731 shares, £12.06 FTSE 100 Movers Major European Companies Reporting Adecco SA, S1, 0.93,  Adidas AG, Q2, 0.871,  Aegon NV, Q2, 0.13,  AMEC PLC, S1, 0.373,  Aviva PLC, S1, 0.196,  Cobham PLC, S1, 0.097,  Coca-Cola HBC AG, Q2, 0.377,  Commerzbank AG, Q2, 0.03,  Delhaize Group SA, S1, 1.58,  Deutsche Telekom AG, Q2, 0.17,  Hellenic Telecommunications Organization SA, Q2, 0.17,  Henderson Group PLC, S1, 0.074,  Henkel AG & Co KGaA, Q2, 1.061,  Hexagon AB, Q2, 0.29,  KBC Groep NV, S1, 0,  KBC Groep NV, Q2, 0.855,  Kerry Group PLC, S1, 1.11,  Ladbrokes PLC, S1, 0.071,  Mondi PLC, S1, 0.44,  Nestle SA, S1, 1.637,  Novo Nordisk A/S, Q2, 11.989,  Rhoen Klinikum AG, Q2, 0.193,  Rio Tinto PLC, S1, 2.468,  SBM Offshore NV, S1, 1.11,  Schroders PLC, S1, 0.554,  Spirax-Sarco Engineering PLC, S1, 0.626,  Stada Arzneimittel AG, Q2, 0.61,  Standard Life PLC, S1, 0.109,  Swiss Re AG, Q2, 2.03,  Valiant Holding, S1, 0 European Market Summary Fitch has confirmed Germany’s top credit rating and maintains the stable outlook Syrian press has pictures of President Al-Assad at a mosque in Damascus, seemingly in response to local reports of an attack on his motorcade Global Market Footprint Major US Stock Movers After Hours Tesla gained 14% after hours when it announced Q2 results well ahead of the expectations as the electric car sector continues to expand into a significant and genuine section of the global car market, and up from the concept car bracket it had been largely categorised as just a few years ago Groupon gained 18% as it announced the its co-founder Eric Lefkofsky as its new CEO, the company has lost over 80% of its value this year and remains significantly under its November 2011 IPO price S&P 500 Companies Reporting AES Corp/VA, Q2, 0.278,  Beam Inc, Q2, 0.601,  CareFusion Corp, Q4, 0.555,  Monster Beverage Corp, Q2, 0.639,  NVIDIA Corp, Q2, 0.163,  priceline.com Inc, Q2, 9.432,  Scripps Networks Interactive Inc, Q2, 1.054,  Windstream Corp, Q2, 0.09 US Market News Apple stays in the news as just a week after successfully lobbying for a White House veto on an import ban of some of its older models, the group is due to ask a US appeals court tomorrow to block sales of some Samsung models coming into the US Bloomberg highlights how Morgan Stanley’s wealth management unit has been advising its clients to cut bond allocations to the lowest level in some 5 years, and expects equities to outperform bonds over a seven year timeframe as bond yields are already so low Tensions between America and Russia continue as President Obama cancels his planned trip to Moscow, which was to be the day ahead of the G20 meeting in St Petersburg on September 6th, which he will still attend The FT suggests that Blackstone could consider an IPO of Hilton Worldwide as early as next year Bloomberg Social Velocity Alerts, BSV Groupon Inc (GRPN) Opexa Therapeutics Inc (OPXA) Tesla Motors Inc (TSLA) Overnight Market News Asian markets largely gained overnight recovering a touch from the recent sell-off, buoyed by Chinese export numbers for July Hong Kong Exchanges and Clearing announces that from next week a new stock index futures contract will be traded, tracking a group of major companies listed in Shanghai, Shenzhen and Hong Kong The re-election chances for Kevin Rudd have dimmed slightly as Australian employers unexpectedly cut payrolls in July Top Commodity Cargill, the agribusiness conglomerate is seen increasingly moving its trading operations into oil, gas and power, while the major Wall Street firms continue to slowly retreat from the sector Economic Data Due 13:30 US Weekly Jobless Claims, 335k exp. 326k previous Economic Events No Major Events Scheduled US Initial Jobless 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”). Cantor Capital and Cantor Index are trading names of CFE. This note is defined by the FCA as a marketing communication. This note has been prepared and distributed for information purposes only and represents the personal views and opinions of the sender. This note is not “investment research”, a “research recommendation” or a product of the Research Department. Please be aware that the CFE Research Department may issue a formal recommendation and target price on the stocks mentioned, which may differ from the opinion given here.  This note may contain information obtained by CFE from third parties; the source of information will usually be disclosed.  CFE makes no representation and gives no warranty as to the accuracy or completeness of the contents of this note. Any person placing reliance upon this note does so at their own risk. Investors should consider this note as only a single factor in making their investment decision. The investment discussed in this note may be unsuitable for investors depending on their specific investment objectives and financial position. CFE, its officers, employees and affiliates shall not be liable to any person in any way whatsoever for any losses, costs or claims howsoever arising from any inaccuracies or omissions in this note or any reliance on this note. The recipient is strongly recommended to see independent legal, tax and financial advice. Past performance is not necessarily a guide to future performance. Income from investments may fluctuate. The price or value of the investments to which this note relates; either directly or indirectly, may fall or rise against the interest of investors. This note should not be considered to be a solicitation nor an offer of advice for the purposes of the sale or purchase of any security, investment or derivative.  The information contained in this note is not intended to form the basis of any investment decision and should not be considered a recommendation by CFE or any other person in relation to any of the companies, stock, commodities, currencies or other markets mentioned / referred to in this note. All the information contained herein is based upon information available to the public and has been obtained from sources believed to be reliable. However, the information contained in this note has not been verified by CFE and CFE undertakes no obligation to provide recipients of this note with any additional information or any update to or correction of the information contained in this note. This note is provided by CFE and may be forwarded unamended and in its entirety. This note may not be used in whole or in part to create any other work. All rights reserved. FTSE International Limited (“FTSE”) © FTSE [2013]. “FTSE®” is a trade mark of the London Stock Exchange Group companies and is used by FTSE International Limited under licence. All rights in the FTSE indices and / or FTSE ratings vest in FTSE and/or its licensors. Neither FTSE nor its licensors accept any liability for any errors or omissions in the FTSE indices and / or FTSE ratings or underlying data. No further distribution of FTSE Data is permitted without FTSE’s express written consent. CFE is authorised and regulated by the FCA under Firm Reference Number 149380.   CFE – The Financial Services Register Information: http://www.fsa.gov.uk/register/firmBasicDetails.do?sid=61341 Registered in England No. 02505767 Registered Address: 17 Crosswall, London, EC3N 2LB Risk Warning Trading CFDs carries a high level of risk to your capital and is not suitable for all customers. Furthermore, margined products use leverage to increase the level of exposure to the product, and as a result your losses may substantially exceed your initial deposit and require you to make additional deposits at short notice. Prior to trading leveraged CFDs, you should carefully consider your investment objectives, experience and risk appetite and should not invest money that you cannot afford to lose. Spread Bets are leveraged products placing your capital at risk. Losses can quickly exceed your initial deposit and thus require you to make additional deposits at short notice to maintain your positions. Leveraged products are not suitable for all customers. Please ensure you understand the risks involved before opening an account. You should ensure you fully understand the risks and seek independent financial advice if in doubt. CFE provides an execution only service and does not offer investment advice. These products are not intended for people under the age of 18 or for US residents. The distribution of this note in other jurisdictions may be restricted by law and persons into whose possession this note comes should inform themselves about and observe any such restrictions. By accepting this note you agree to be bound by the foregoing instructions.