Day Ahead

Monday, October 21, 2013, Marketing Communication Opening Call The FTSE is seen starting the week up around 25 points higher UK Corporate Announcements Informa states that its full year expectations remain unchanged after a ‘solid quarter’ Quindrell Portfolio announces Q3 revenues of £92.1m on gross sales of £98m and an adjusted EBITDA of £34.5m Senior announces a full year adjusted pre-tax profit in line with its expectations and states it sees a strong foundation for future aerospace growth UK News Rightmove shows London house prices up 10% between September and October alone, as the market adjusts to government help to buy measures and on continued strong international demand, the average price in London now stands at £544k, in the rest of the UK prices gained 2.8% Vince Cable has felt the need to write another defence of the Royal Mail valuation, as its share price topped 500p on Friday, stating that the £2.6-3.3bn valuations was recommended by Goldman, UBS and Lazard Merlin Entertainment today confirms its intention to sell shares, with a primary offering of £200m, targeting a free float of at least 20% Terra Firma confirms plans to list its Infinis wind power unit, thought to be worth around £1bn, in November Tesco details that it is to end promotions on salads and fruit as despite a sales drive the amount of produce it sent to food waste spiked as the promotions failed to attract customer interest Qinetiq will be eyed after reports that it may be broken up after senior management put its US division up for sale The FT details how the world’s first bond backed by home rental incomes is due in the next few weeks, in what potentially could be a new multi-billion dollar market for property portfolio managers UK Analyst Changes Debenhams Raised To Overweight Vs Equalweight At Morgan Stanley Britvic Removed From Ubs’S Least Preferred List UK Insider Buying None Detailed UK Insider Selling None Detailed FTSE 100 Movers Major European Companies Reporting Akzo Nobel NV, Q3, 0.796,  Koninklijke Philips NV, Q3, 0.304,  SAP AG, Q3, 0.79 European Market Summary Philips announces a Q3 EBITA of €634m, ahead of the forecasts of around €567m seen EDF today confirms its nuclear reactor agreement with the UK government The head of Norway’s SWF has suggested that the increasing computerisation of the stock markets and the complexities it creates causes issue for larger investors SAP reports Q3 software revenues of €975m largely in line with the forecasts Global Market Footprint Major US Stock Movers After Hours There were major movers after hours on Friday S&P 500 Companies Reporting Discover Financial Services, Q3, 1.212,  Gannett Co Inc, Q3, 0.41,  Halliburton Co, Q3, 0.816,  Hasbro Inc, Q3, 1.283,  McDonald's Corp, Q3, 1.509,  Netflix Inc, Q3, 0.47,  Texas Instruments Inc, Q3, 0.531,  Varian Medical Systems Inc, Q4, 1.113,  VF Corp, Q3, 3.778,  Zions Bancorporation, Q3, 0.423 US Market News JP Morgan is expected to announce a $13bn fine to end government probes of its mortgage bond sales, the official terminology remains a $13bn ‘settlement’, but the term becomes rather redundant for fines this significant, the fine does not end potential criminal investigations. JP Morgan states that around 80% of the deals relate to deals originally made at Bears Stearns and Washington Mutual Bank of America is seen having to pay $6bn for its role in misleading mortgage agencies during the housing boom AT&T announces it is to lease 9,700 wireless towers from Crown Castle, after selling the towers for $4.85bn, in a sale in leaseback deal, to boost its cash as it looks at potential European expansion Bloomberg suggests that the traditional emerging market grouping BRIC: Brazil, Russia, Indian and China has split, with India moving into the BIITS group, Brazil, India, Indonesia, Turkey and South Africa, which has under-performed the remaining BRIC nations due to a wider market focus on current account deficits Google hit the headlines over the weekend as it share price crossed over the $1,000 level on Friday, its IPO price nine years ago was $85/share Today's Bloomberg Social Velocity Alerts, (BSV) Baxter International Inc (BAX) Makepeace Bros Inc (MAKE) Overnight Market News China states that its economy is stable and trending for the better the foundations are not yet firm and that unrelenting implementation of its social policies was required Hutchison states that it is to review its options on its AS Watson unit including a possible IPO where it could raise as much as $13bn, the unit operates over 11,000 stores worldwide under a number of brands, such as Superdrug in the UK Economic Data Due 00:01 UK October Rightmove House Prices, -1.5% previous 15:00 US September Existing Home Sales, 5.3m exp. 5.48m previous Economic Events Bank of Japan Governor speaks in Tokyo US Home Sales Contact us 0044 (0) 207 894 8883 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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