Day Ahead

Wednesday, September 18, 2013, Marketing Communication Opening Call The FTSE is called up around 5 points today UK Corporate Announcements Smiths Group announces a full year operating profit of £493m on revenues of £3.1bn largely in line and announces a 30p special dividend and states that it is evaluating new medium term performance targets JD Sports reports an H1 pre-tax profit of £6.09m from £2.88m on revenues of £567m from £556m Redrow details full year revenues of £604.8m up 26% and a full year net income of £53.7m from £30.2m Town Centre Securities announces a full year underlying pre-tax profit of £7.3m with net assets per share of 267p RM states that its Q3 trading continued to progress and now sees H2 significantly stronger than previous forecasts UK News The FT details on how UK property prices have hit fresh highs as the Chancellor continues to attempt to play down fears of a housing bubble The Telegraph writes on the potential government proposals to offer free school meals for all under 8 year olds IAG has reportedly ruled out any additional European acquisitions for now All the business papers today write on bid speculation on both Severn Trent and United Utilities Citi yesterday lifted its 2014 target on the FTSE 100 to 8,000 Speculation increases that the government may make some of the future Lloyds shares sales available to the public The CEO of Galliford Try states that home building demand is so high that qualified construction workers can attract salaries of over £40,000 Tesco will be eyed on reports that next week it plans to launch a budget tablet device FTSE 100 Dividends: Antofagasta PLC, ANTO, ($0.089g), Melrose Industries PLC, MRO, (2.75), Petrofac Ltd, PFC, ($0.22g) FTSE 100 Estimated Dividend Impact: 0.5 points FTSE 250 Dividends: BBA Aviation PLC, BBA, ($0.044),  Computacenter PLC, CCC, (5.20),  Derwent London PLC, DLN, (10.75), Dunelm Group PLC, DNLM, Return of Capital (25), IG Group Holdings PLC, IGG, (17.50),  Interserve PLC, IRV, (6.80),  Kier Group PLC, KIE, (46.50),  Ladbrokes PLC, LAD, (4.30),  Renishaw PLC, RSW, (28.67),  RPS Group PLC, RPS, (3.52) FTSE Small Share: Carr's Milling Industries PLC, CRM, (7.75),  Chime Communications PLC, CHW, (2.20),  Consort Medical PLC, CSRT, (12.71),  Costain Group PLC, COST, (3.75),  Henderson Smaller Companies Investment Trust PLC/The, HSL, (6.50),  JPMorgan Global Emerging Markets Income Trust Plc, JEMI, (2.10),  Primary Health Properties PLC, PHP, (9.50),  Standard Life UK Smaller Co Trust, SLS, (2.90),  Tribal Group PLC, TRB, (.50) 1bn UK Analyst Changes Go-Ahead Raised To Buy Vs Neutral At Citi National Express Cut To Neutral Vs Buy At Citi UK Insider Buying Cls Holdings Plc, (),  insider(s) bought 5000 shares, £11.65 UK Insider Selling None Detailed FTSE 100 Movers Major European Companies Reporting Inditex SA, S1, 1.525,  Smiths Group PLC, R, 0.924 European Market Summary Inditex today announces an H1 net profit of €951m, just ahead of the forecasts of €934m seen EU cars sales have stayed sluggish indicating that the economic recovery remains fragile, cumulative figures for the year are at a record low Mediobanca’s chief stated in a conference call yesterday that putting more money into telecom Italia is not in line with its decision to sell its stake Global Market Footprint Major US Stock Movers After Hours Adobe gained 5% after hours as it announces Q3 revenues of $995m in line, and profits largely in line, but gave an optimistic outlook, particularly on creative cloud subscriptions S&P 500 Companies Reporting FedEx Corp, Q1, 1.506,  Oracle Corp, Q1, 0.561,  General Mills Inc, Q1, 0.699 US Market News The all time highs on the S&P 500, at 1709, was posted in August 2013, the index closed yesterday at 1704 Microsoft announces a $40bn share buyback and that it is to increase its dividend 22% AT&T is reportedly looking for buyers of its wireless towers, valued at around $5bn Jefferies group detailed yesterday that quarterly profit fell 83% in the three months to end August stating that it ‘experienced a very challenging summer in fixed income due to the rising rate environment, spread widening and redemptions’ FriendFinder Networks files for Chapter 11 bankruptcy as the early entrant to online dating failed to keep pace with newer entrants such as match.com Tesla details that it is to move into self driving car technology and suggests that road ready driverless cars could be sold in three years Take Two Software will stay in focus as the GTA V game is released and is forecasted to generate $1bn in sales, and looks set to break the previous records, set by GTA IV Today's Bloomberg Social Velocity Alerts, (BSV) BioMarin Pharmaceutical Inc (BMRN) Millennial Media Inc (MM) Overnight Market News Sega won the auction to buy Index Corp, the Japanese based developer of games for the Nintendo 3D, and Sony’s Playstation, Index Corp had been forced into bankruptcy protection, the acquisition is seen at around $140m Top Commodity Gold has moved under $1300 ahead of the Fed announcement today as calls mount that it could trade back under $1000 in the coming months Economic Data Due 09:30 UK Bank of England Minutes 13:30 US August Housing Starts, 923k exp. 896k previous 19:00 US FOMC Rate Decision, 0.25% unchanged exp. Economic Events 19:30 Bernanke Press Conference US Rates 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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