Day Ahead

Thursday, September 19, 2013, Marketing Communication Opening Call The FTSE is seen opening up around 80 points higher this morning UK Corporate Announcements United Utilities states it will continue to tightly manage its cost base as it details that it has been trading in line with the expectations Premier Farnell announces an H1 pre-tax profit of £38.1m from £31.8m on revenues of £498m from £479m Booker Group states that it has made a good start to the year with Q2 sales up 19.3% IQE details H1 revenues gained 84% to £63m and stays confident on on achieving its earnings expectations ASOS announces Q4 total group revenues increased 46% with UK sales up 49% ahead of the forecasts UK News The OFT has agreed to reform the UK defined contribution pensions market after finding problems which mean some savers do not get value for money The Guardian asks ‘is Britain back to being the sick man of Europe’ as its gap to Germany and the US is as large as it was 20 years ago The Chairman of Redrow has stated that the warnings over a housing bubble was ‘hysterical rubbish’ The Times details that Foxtons has seen strong demand for its shares, with its IPO set to raise around £650m Virgin Galactic states that its passenger space programme is now just months away Arm shares gained sharply late in the session yesterday on takeover talk, closing up 3% The UK sells 4.75bn in Bonds at 11:30 UK Analyst Changes Fenner Raised To Outperform Vs Neutral At Credit Suisse Intercontinental Hotels Rated New Buy At Socgen, Pt 2,200P Johnson Matthey Cut To Neutral Vs Buy At Ubs Tate & Lyle Raised To Add Vs Hold At Numis Whitbread Rated New Sell At Socgen, Pt 2,900 UK Insider Buying None Detailed UK Insider Selling Domino Printing Science, (DNO),  insider(s) sold 11160 shares, £6.52 FTSE 100 Movers Major European Companies Reporting None Detailed European Market Summary Lehman Brothers suggests that European exchanges should expect a ‘flood’ of IPO’s over the next couple of years as the improving economy buoys the wider demand for stocks S&P has placed Portugal’s Long Term BB ratings on negative watch Ireland sells €500m in Bills at 10:30, Spain sells Bonds at 10:30 Global Market Footprint Major US Stock Movers After Hours Steelcase fell 6% as it announces a lower Q2 profit, citing weakness in Europe Oracle came off 3% as it announced Q1 adjusted EPS just under the forecasts S&P 500 Companies Reporting ConAgra Foods Inc, Q1, 0.398 US Market News The Fed left the $85bn month bon buying program untouched yesterday against expectations that it would start tapering, stating that it still needs more evidence of lasting economic improvement, with Bernanke stating that ‘we are tied’ to data The S&P 500 moved up to fresh all time highs yesterday Pre-orders of Apple’s iPhone 5C in the UK are reportedly coming in under the expectations The SEC has suggested that US companies may need to disclose the difference between the pay of CEOs and employees in its accounts going forward Today's Bloomberg Social Velocity Alerts, (BSV) BioMarin Pharmaceutical Inc (BMRN) JPMorgan Chase & Co (JPM) Oracle Corp (ORCL) priceline.com Inc (PCLN) Take-Two Interactive Software (TTWO) Overnight Market News The Jakarta composite gained 7%, the most since May 2010 after the Fed announcement Hong Kong’s Financial Secretary has urged lawmakers to support the plans for additional curbs on the housing market, stating that they would be scrapped in the fullness of time Local investors are suggesting that plans to allow Alibaba to list in the form of a partnership would set a dangerous precedent Chinese press suggest that authorities are preparing to ease rules for stock listings, which could free up a backlog of companies itching to raise capital Top FX The dollar came off to a seven month low after the Fed news, while the likes of Thailand’s baht gained the most since 2007 Economic Data Due 05:30 Japan July Industrial Activity, 0.3% exp. -0.6% previous 09:30 UK August Retail Sales ex Autos, 0.0% exp. 1.1% previous 13:30 US Initial Jobless Claims, 292k previous 15:00 US August Existing Home Sales, 5.25m exp. 5.39m previous 15:00 US August Leading Index, 0.6% exp. 0.6% previous. Economic Events Lagarde Speaks in New York Bank of Japan Governor Speaks in Tokyo UK Retail Sales 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 BSV is a Bloomberg Terminal filter searching for unusually high social media mentions on a stock 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. 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