Day Ahead

Tuesday, September 24, 2013, Marketing Communication Opening Call The FTSE is seen opening around unchanged today UK Corporate Announcements Close Brothers states that it has seen strong growth in its banking division and details operating profit gained 24% to £166.5m Panmure Gordon announces a total H1 profitability of £0.1m with a 16% increase in net commission, fee income Hargreaves Services reports a continuing operating profit of £44m on revenues of $843m UK News Bank of England policymaker Ben Broadbent has confirmed that the MPC made the 7% unemployment target in response to changes in growth rather than to meet its official inflation mandate Both the Telegraph and FT report on M&A talk on the London Stock Exchange, as it pulls a planned investor conference, increasing speculation it may announce a deal with Nasdaq, causing LSE to state late yesterday that the change was due to ‘purely logistical reasons' The FT suggests that sales of Glaxo’s medicines in China may have dropped as much as 30% following the firm being accused of corruption UK Analyst Changes Amec Cut To Neutral Vs Buy At Ubs BP Named A Least Preferred Stock At Citi, Replaces Shell WH Smith PT Raised to 935p vs 875p at Barclays UK Insider Buying Berkeley Group Holding, (BKG), 1 insider(s) bought 1500 shares, £20.45 Plant Health Care Plc, (PHC), 1 insider(s) bought 21000 shares, £0.69 Premier Oil Plc, (PMO), 1 insider(s) bought 9234 shares, £3.33 Sierra Rutile Ltd, (SRX), 2 insider(s) bought 662500 shares, £0.5 Waterlogic Plc, (WTL), 1 insider(s) bought 50000 shares, £1.27 UK Insider Selling Allocate Software Plc, (ALL), 3 insider(s) sold 767571 shares, £1.01 Berendsen Plc, (BRSN), 1 insider(s) sold 25000 shares, £9.2 Smiths Group Plc, (SMIN), 1 insider(s) sold 11159 shares, £13.97 Sabmiller Plc, (SAB), 1 insider(s) sold 2346 shares, £32.93 Red24 Plc, (REDT), 1 insider(s) sold 240000 shares, £0.16 Centaur Media Plc, (CAU), 2 insider(s) sold 42518 shares, £0.49 Fuller Smith & Turner, (FSTA), 1 insider(s) sold 1939 shares, £9.2 FTSE 100 Movers Major European Companies Reporting Carnival PLC, Q3, 1.309,  Close Brothers Group PLC, R, 0.83,  IMMOFINANZ AG, Q1, 0 European Market Summary Telefonica has reportedly reached a deal to increase its stake in Telecom Spa to 65% from 46%, Telco Spa is the investment vehicle that that owns 22.4% of Telecom Italia Draghi suggests that European banks will get additional support if there were signs that borrowing rates between banks was increasing Global Market Footprint Major US Stock Movers After Hours Greenway Medical gained 18% as Vista Equity announced it is to buy the group for $20.35/share, the stock closed at $17.13 Red Hat slipped 8% after hours as the Linux operating system seller announces Q2 extended billings under the estimates, citing a slowdown in Europe S&P 500 Companies Reporting CarMax Inc, Q2, 0.565,  Carnival Corp, Q3, 1.309,  Lennar Corp, Q3, 0.452 US Market News Chrysler Group has filed for an IPO in the US, and lists JP Morgan as the underwriter, the shares are being offered by the United Auto Workers union health care trust, holding 41.5% of shares not held by Fiat JP Morgan stays in the news as the US Justice Dept. is seen preparing a fresh legal case against the bank, this time over mortgage bonds it sold in the run up to the financial crisis The largest shareholder in Blackberry has offered $4.7bn to take the troubled phone maker private, at a 3% premium to yesterday’s closing price Apple gained 5% yesterday as it details that it sold 9m iPhones in the opening weekend and as it lifted its full year guidance to the top end of its previous forecasts, with some papers highlighting how Apple sold $4.9bn of iPhones in the past three days, compared to the $4.7bn Blackberry deal The news has somewhat overshadowed Microsoft’s unveiling of its next generation Surface tablets, which have better battery life and faster speeds The president of the Federal Reserve Bank of Dallas has criticised the White House’s handling of the nomination for the next chairman of the Fed, stating that ‘this should not be a public debate’, the Fed ‘must never be a political instrument’ Citigroup details that it has cut a further 1,000 jobs in its mortgage business as the refinancing boom continues to wind down as interest rates start to increase The FT highlights how US regulators set up a fake yoghurt shop in Brooklyn in order to ensnare 19 consumer review websites that were posting fake online reviews Moody’s has dropped its junk rating on GM after it agreed to buy back its $3.2bn preferred shares, the automaker returns to investment grade after 8 years Today's Bloomberg Social Velocity Alerts, (BSV) Isis Pharmaceuticals Inc (ISIS) Netflix Inc (NFLX) Rio Tinto PLC (RIO) Overnight Market News Fitch has cut the ratings on three of India’s state run banks, citing concerns as the Indian economy slows Economic Data Due 09:00 German September IFO Business Climate, 108. exp. 107.5 previous 15:00 US September Consumer Confidence Index, 80.3 exp. 81.5 previous Economic Events Bank of England's Paul Tucker Speaks in London 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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