Day Ahead

Monday, September 23, 2013, Marketing Communication Opening Call The FTSE is seen starting the week down around 10 points UK Corporate Announcements Dairy Crest states that H1 trading has been steady but challenging and maintains it full year outlook Saville announces that performance has improved in H2 but that Q1 saw a significant downturn in fairplace and states that it is taking steps to cut costs Aberdeen Asset Management announces AUM of £201.7bn from £209.6bn and sees underling pre-tax profit at the upper end of the forecasts and also states that the economic situation in Europe is fragile UK News The Telegraph writes that Barclays is launching an unprecedented review of the overdraft fees and charges faced by its 12m current account customers Royal Mail has conceded to union demands and drops its plans to cap pension rises, in order to avert strike action around its IPO Following the success of the Foxtons listing, IPO talk remains high in the UK, with press suggesting that Merlin Entertainments, the owner or Alton Towers and Madame Tussauds’s could announce its intention to float Also press reports that Venda, the IT group that provides software for online retailing, could also look to list in the coming weeks Centrica announces it will not process with its planned Caythorpe gas storage projects, and will take an impairment of around £240m The Independent on Sunday writes that a government report into RBS could suggest it sells off its Irish business but may hold back from recommending that the bank should be split into a good and bad bank UK Analyst Changes Croda Raised To Outperform Vs Neutral At Credit Suisse Devro Cut To Hold Vs Buy At Socgen Meggitt Rated New Equalweight At Morgan Stanley, Pt 600P National Grid Cut To Neutral Vs Buy At Ubs Rambler Pt Cut To 47P Vs 53P At Cantor; Kept At Buy UK Insider Buying Avanti Communications, (AVN), 1 insider(s) bought 35000 shares, £2.43 Berkeley Group Holdin, (BKG), 1 insider(s) bought 1500 shares, £20.48 Conygar Investment Co, (CIC), 1 insider(s) bought 250000 shares, £1.29 Enegi Oil Plc, (ENEG), 1 insider(s) bought 1600000 shares, £0.09 Gulf Keystone Petroleu, (GKP), 1 insider(s) bought 72200 shares, £2.01 Vodafone Group Plc, (VOD), 1 insider(s) bought 326206 shares, £2.1 UK Insider Selling Berendsen Plc, (BRSN), 1 insider(s) sold 25000 shares, £9.21 British Land Co Plc, (BLND), 1 insider(s) sold 19987 shares, £5.92 Cropper (James) Plc, (CRPR), 1 insider(s) sold 6600 shares, £3.42 Diageo Plc, (DGE), 1 insider(s) sold 3712 shares, £20.24 Ferrexpo Plc, (FXPO), 1 insider(s) sold 20000 shares, £1.85 Fuller Smith & Turner, (FSTA), 1 insider(s) sold 1939 shares, £9.21 Greene King Plc, (GNK), 3 insider(s) sold 189076 shares, £8.08 Renishaw Plc, (RSW), 1 insider(s) sold 2075 shares, £19.08 Sabmiller Plc, (SAB), 1 insider(s) sold 2346 shares, £32.98 Smiths Group Plc, (SMIN), 1 insider(s) sold 11159 shares, £13.99 Vedanta Resources Plc, (VED), 1 insider(s) sold 50000 shares, £11.76 FTSE 100 Movers Major European Companies Reporting None Detailed European Market Summary Angela Merkel has won a third term as chancellor in Sunday’s general election, with the largest winning majority since 1990, although she still requires a coalition partner Ukraine has been cut to Caa1 from B3 by Moody’s who also states it may yet be cut further Global Market Footprint Major US Stock Movers After Hours Blackberry fell sharply into the close on Friday, and fell a further 2% in late trading as it announces it is cutting 4,500 additional jobs, and writing down almost $1bn in inventory S&P 500 Companies Reporting Red Hat Inc, Q2, 0.327 US Market News Fidelity, one of the largest fund managers in the world, has written a warning to over 400 hundred companies stating that they need to reform pay policies or see votes against remuneration at AGMs A US FAA advisory panel is due to meet this week where it is expected to announce that the harsh rules on electronic devices on flights can be cut back The FT suggests that ahead of its IPO, Twitter is seen talking to banks about a revolving credit facility worth hundreds of millions of dollars to give it increased flexibility Today's Bloomberg Social Velocity Alerts, (BSV) BioMarin Pharmaceutical Inc (BMRN) Atossa Genetics Inc (ATOS) Overnight Market News Trading in Hong Kong was suspended during the morning over the strongest storm system seen so far this year, which killed at least 25 people in China, moved to within 300km on North West Hong Kong, but the system was downgraded through the morning Top FX The euro has stayed near a seven month high on the German election results, it has gained 4% so far this quarter Economic Data Due 09:00 Eurozone September PMI Manufacturing. 51.6 exp. 51.4 previous 13:30 US August Chicago Fed Nat Activity Index, -0.15 previous Economic Events Draghi Speaks at European Parliament Eurozone PMI 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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