Day Ahead

Thursday, September 5, 2013, Marketing Communication Opening Call The FTSE is called up around 15 points today UK Corporate Announcements Go Ahead Group reports full year revenues of £2.57bn, up 148% and in line, and states it will continue to asses acquisition opportunities Betfair announces Q1 core revenues of £78.8m from £92.6m with a core EBITDA of £24.9m up 16% SuperGroup reports total retail sales of £53.2m up 17.6% and states that UK wholesale has returned to growth Spirit Pubs ss Dixons Retail states that Q1 multi channel sales were in line, as growth in the UK and Northern Europe offset continued weakness in Southern Europe EasyJet details an August load factor of 92.8% from 91.7% and passengers gained to 6.1m from 5.87m Monitise announces full year revenues of £72.8m from £36.1m and a full year loss of 3.8p and details it has appointed a new chairman UK News The Bank of England and ECB gives rate announcements today with the MPC again expected to leave rates unchanged Moody’s states that it expects the UK car market to grow more than expected this year, by 7.6% from previous forecasts of 5% The Times highlights that UK banks so far have settled fewer than one in one hundred complaints over mis-sold interest rate swap products The G20 meets today and is expected to discuss a new agreement to fight tax avoidance British Airways is in the news as a customer who had his baggage lost and who was unhappy with the service he received in response has paid for a promoted tweet stating “Don’t fly @BritishAirways. Their customer service is horrendous” which has since gone viral Severn Trent announces that it will not apply to Ofwat for a Special Interim review and states that the expected costs will not be passed onto customers UK Analyst Changes European Oil Services Sector Cut From Neutral At Nomura European Oil Services Sector Cut To Bearish At Nomura Icap Raised To Overweight At Morgan Stanley Intercontinental Hotels Raised To Buy Vs Neutral At Ubs Intercontinental Raised To Buy Vs Neutral At Ubs John Wood Group Raised To Neutral Vs Reduce At Nomura Lse Added To Morgan Stanley’S Financials Most Preferred List Melrose Cut To Neutral Vs Buy At Ubs Standard Chartered Cut To Neutral Vs Outperform At Macquarie Standard Chartered Removed From Macquarie Marquee Idea List UK Insider Buying None Detailed UK Insider Selling None Detailed FTSE 100 Movers Major European Companies Reporting None Scheduled European Market Summary Draghi will attempt to walk a fine line with announcements today, staying optimistic on the economic outlook, while also playing down calls to lift interest rates Spain is due to sells bonds at 10:30 and France at 10:50 Global Market Footprint Major US Stock Movers After Hours There were no major movers after hours yesterday S&P 500 Companies Reporting None Scheduled US Market News The WSJ writes on how for the first time mortgage rates for ‘jumbo mortgages’ on luxury homes are now at lower rates than for cheaper housing where mortgages are backed by the government through Fannie Mae and Freddie Mac The NY Times highlights how Sprint Nextel yesterday sold $6.5bn of high yields bonds, surpassing the previous record for the largest single non investment grade offering ever sold directly to investors, as corporate America continues to tap the bond investors for financing US auto sales in August at a pace not seen since before the financial crisis Louisiana Pacific announces it is to acquire Ainsworth Lumber for $863m US press speculates that Apple has signed a partnership deal with China Mobile on its new iPhone range, expected to be launched next week Sources suggest that a Blackberry sale could be completed as early as November Mail.ru details that it sold its remaining 14m shares in Facebook in July-August for $525m Today's Bloomberg Social Velocity Alerts, (BSV) Advanced Micro Devices Inc (AMD) AT&T Inc (T) Cytokinetics Inc (CYTK) LinkedIn Corp (LNKD) Nokia OYJ (NOK) Tredegar Corp (TG) Overnight Market News Samsung Electronics has set the price of its new Smartphone watch, Galaxy Gear at $299 Technicians at Toshiba have reportedly created a new method of quantum key distribution at a much more practical and less expensive level than previous techniques, as the next generation of computer processing and encryption moves closer to the mainstream Top FX The British pound has moved up to a three month high against the euro ahead of the central bank announcements today Economic Data Due 12:00 Bank of England Rate Announcement, 0.5% exp. 0.5% previous 12:45 ECB Rate Announcement, 0.5% exp. 0.5% previous 13:30 US Initial Jobless Claims, 330k exp. 331k previous 15:00 US July Factory Orders, -3.5% exp. 1.5% previous Economic Events Fed's Bullard Speaks in Memphis Eurozone GDP 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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