Day Ahead

Monday, September 9, 2013, Marketing Communication Opening Call The FTSE is called to open up around 10-15 points higher today UK Corporate Announcements Associated British Foods states that it expects H2 adjusted operating profit to be ahead of the expectations Ricardo announces full year organic pre-tax profit gained 15% to £20.2m and states it saw a record operating performance Lloyds states that it plans two strong separate banks, TSB and Lloyds, TSB will have a network of 631 branches, there are also reports that the UK government could sell part of its stake in Lloyds as early as this week UK News Chancellor Osborne is expected to state in a speech today that he will continue with austerity plans, stating that the recovery is still fraught with risks BBA announces that its merger talks with Dubai Aerospace Enterprise have now been terminated The FT suggests that Vodafone still may not gain approval for its planned takeover of Kabel Deutschland The Telegraph suggests that Glaxo has considered pulling out of China entirely as foreign companies remain the focus of local accusations of bribery McLaren is due to open its first dealership in China today, as it looks to tap into the growing local demand for European luxury brands Merlin Entertainments has reportedly started to meet with institutional investors over a possible £3bn UK IPO, which could occur this year Royal Mail’s IPO plans are not expected to be suspended as workers continue a dispute over pay conditions and in a further sign of improving market sentiment Zoopla the property search website has reportedly also hired investment bankers to advise on a possible float or sale The chief of Asda has stated that young people should also be given free bus passes UK Analyst Changes Bat Raised To Buy At Bofaml Enquest Cut To Underweight Vs Equalweight At Barclays Itv Cut To Market Perform Vs Outperform At Bernstein Legal & General Raised From Market Perform At Bernstein Legal & General Raised To Outperform At Bernstein Salamander Energy Cut To Equalweight Vs Overweight At Barclays Stv Group Rated New Buy At Liberum, Pt 360P Tate & Lyle Cut To Sell Vs Neutral At Ubs Tullow Oil Raised To Neutral Vs Underperform At Macquarie UK Insider Buying Panmure Gordon & Co Pl, (),  insider(s) bought 20000 shares, £1.38 UK Insider Selling Elementis Plc, (ELM),  insider(s) sold 12323 shares, £2.51 FTSE 100 Movers Major European Companies Reporting None Detailed European Market Summary The political situation is Italy is back in focus as Berlusconi threatens to pulls his party’s support for the current coalition if Italian senators vote to eject him for parliament after his convictions for tax fraud The EC confirms that it has received from Google a fresh proposal to settle antitrust investigations in how it operates its search engines Germany sells up to €3bn in bills at 11:30, France sells up to €7bn at 14:50 Global Market Footprint Major US Stock Movers After Hours There were no major moves after hours S&P 500 Companies Reporting PVH Corp, Q2, 1.368 US Market News Neiman Marcus the luxury retailer, is reportedly close to sell itself to Ares Management for $6bn BlackRock suggests that it expects further bond losses in the emerging markets as it continues to see flows out of the regions Barron’s highlights analysts that see Lenovo gaining to $25 as it continues to expand its smartphone business and suggest it could even threaten the likes of Samsung and Apple in the coming years due to its strong presence in China Cyclical stocks Caterpillar, GE, Joy Global and Textron were highlighted as 4 standouts among the industrial shares in the S&P 500 as the global economy continues to improve The WSJ writes on how US hedge funds are increasingly under pressure to drop the standard 2% assets under management fee and 20% of investment profits as disappointed investors pull money from the industry IBM is reportedly looking to move over 100,000 of its retirees off its health plan and instead offer then a payment to buy coverage on a health insurance exchange Today's Bloomberg Social Velocity Alerts, (BSV) Social Velocity Alert for Rio Tinto PLC (RIO) Social Velocity Alert for Biodel Inc (BIOD) Overnight Market News Asian stocks have had a broadly positive session with much of the focus on Tokyo as it secured the 2020 summer Olympics, as the investment should buoy construction in the city and even help overcome deflation, Mitsubishi Estate gained 5% on the expectation it will see contract wins from the games Sources have stated that Suntory has now agreed to pay £1.3bn for the Lucozade and Ribena brands from Glaxo Top FX Bill Gross has stated in a tweet that Tapering is still expected and that the markets at some point must sell to itself, instead of to BIG daddy Economic Data Due 00:50 Japan Q2 GDP, 1.0% exp. 0.6% previous Economic Events Japan Economy Minister Speaks Japan 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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