Day Ahead, November 13th

Wednesday, November 13, 2013, Marketing Communication Opening Call The FTSE is seen opening around 30 points lower today UK Corporate Announcements J Sainsbury states that its market share is at its highest for a decade up to 16.8% with H1 revenues up 4.3% to £12.7bn and basic EPS up 9.2% to 16.6p and a pre-tax profit of £433m Derwent London states that it has made good progress on its major projects ICAP details H1 revenues of £736m from £746m and a pre-tax profit of £139m from £137m and sees its full year profit marginally ahead of last year British Land announces an H1 underlying pre-tax profit of £146m up 6.6% with an NAV of 623p from 596p Fenner announces full year revenues of £820m just under the forecasts of £829m seen and states that its financial position recovered strongly in H2 LSE reports an H1 revenues of £504.2m up 44%, total income up 34% ex LCH.Clearnet items and an H1 adjusted operating profit of £229m Kier Group states that it remains on track to meet its full year forecasts SSE announces an H1 adjusted pre-tax profit of £354m down 11.7% with its EPS down 17.4% to 29.4p Drax states that it sees its full year EBITDA coming in ahead of the current market expectations Bwin.Party announces that current trading is encouraging, although Q3 revenues fell 21% to €145m Esure states that it remains on track to meet its full year targets and that its final position remains strong UK News The FT suggests that regulators investigations into possible FX manipulations has expanded to now include at least 15 banks Pets at Home is reportedly the latest company to consider an IPO, KKR acquired the largest pet shop chain in the UK for £955m in 2010 FTSE 100 Dividends: British Sky Broadcasting Group PLC, BSY, (19),  GlaxoSmithKline PLC, GSK, (19),  Marks & Spencer Group PLC, MKS, (6.20),  Royal Dutch Shell PLC, RDSA, ($0.45),  Royal Dutch Shell PLC, RDSB, ($0.45) FTSE 100 Estimated Dividend Impact: 11.5 Points FTSE 250 Dividends: DCC PLC, DCC, (26.12g),  Home Retail Group PLC, HOME, (1), Scottish Mortgage Investment Trust PLC, SMT, (6.90),  UK Commercial Property Trust Ltd/fund, UKCM, (1.3125) FTSE Small Share: Braemar Shipping Services PLC, BMS, (9),  Fidelity Special Values PLC, FSV, (16.25),  Manchester & London Investment Trust PLC, MNL, (8.25),  Medicx Fund Ltd, MXF, (1.425),  Picton Property Income Ltd, PCTN, (.75),  Schroder Oriental Income Fund Ltd, SOI, (3) UK Analyst Changes Amec Cut To Neutral From Outperform At Credit Suisse Babcock Intl PT Raised to 1,500p from 1,300p at Cantor Etalon Rated New Overweight At Jpmorgan; Pt $7 Lsr Raised To Overweight Vs Neutral At Jpmorgan Pz Cussons Raised To Buy Vs Neutral At Goldman Tate & Lyle Cut to 'Hold' at Numis Securities Tesco Cut To Neutral Vs Overweight At Hsbc Wolseley Raised To Overweight Vs Equalweight At Morgan Stanley Wood Group Raised To Outperform Vs Neutral At Credit Suisse UK Insider Buying Camco Clean Energy Plc, (CCE), 2 insider(s) bought 460753 shares, £0.07 International Ferro Me, (IFL), 1 insider(s) bought 100000 shares, £0.11 Sirius Petroleum Plc, (SRSP), 1 insider(s) bought 2000000 shares, £0.04 Waterlogic Plc, (WTL), 1 insider(s) bought 5000 shares, £1.05 UK Insider Selling Hikma Pharmaceuticals, (HIK), 2 insider(s) sold 61200 shares, £11.97 Jardine Lloyd Thompson, (JLT), 1 insider(s) sold 84390 shares, £10 Mondi Plc, (MNDI), 1 insider(s) sold 20000 shares, £10.14 Tate & Lyle Plc, (TATE), 1 insider(s) sold 213730 shares, £7.88 FTSE 100 Movers UK IPO's Issuer Name Pricing Date Applied Graphene Materials PLC 11/19/2013 EU Supply PLC 11/13/2013 Everyman Media Group Plc 11/07/2013 GameAccount Network plc 11/25/2013 Infinis Energy Plc 11/15/2013 Mincon Group Plc 11/30/2013 Oxford Immunotec Global PLC 11/21/2013 Rightster Group plc 11/30/2013 Servelec Group Plc Universal Movers Corp Major European Companies Reporting AP Moeller - Maersk A/S, Q3, 1399.94,  Bouygues SA, Q3, 0,  British Land Co PLC, S1, 0.154,  Carlsberg A/S, Q3, 16.786,  Celesio AG, Q3, 0.29,  Deutsche Euroshop AG, Q3, 0.49,  E.ON SE, Q3, 0.26,  Hochtief AG, Q3, 0.763,  ICA Gruppen AB, Q3, 3.3,  ICAP PLC, S1, 0.162,  Intesa Sanpaolo SpA, Q3, 0.02,  J Sainsbury PLC, S1, 0.162,  London Stock Exchange Group PLC, S1, 0.3,  Portugal Telecom SGPS SA, Q3, 0.086,  PSP Swiss Property AG, Q3, 0.845,  SSE PLC, S1, 0.282,  Stada Arzneimittel AG, Q3, 0.67,  Terna Rete Elettrica Nazionale SpA, Q3, 0,  Tod's SpA, Q3, 1.54 European Market Summary Permira and KKR are selling 35m shares in ProSiebenSat.1 Media value at around €1.2bn Telefonica is reportedly looking for a partner in Mexico to challenge the dominance of Carlos Slim Germany sells €5bn in bonds at 10:30, Italy sells €5.5bn in bonds at 11:00 Global Market Footprint Major US Stock Movers After Hours Starbucks has been ordered to pay Mondelez International $2.7bn, settling a dispute with Mondelez, then known as Kraft Foods, over a terminated agreement, Mondelez gained 3% after hours on the news, Starbucks dropped 1% S&P 500 Companies Reporting Cisco Systems Inc, Q1, 0.506,  Macy's Inc, Q3, 0.394,  NetApp Inc, Q2, 0.628 US Market News US Airways and AMR Corp, the parent of American Airlines, have been permission to merge, which would create the world’s largest carrier, as they agree to a number of key divestments on any deal Intercontinental Exchange (ICE) announces that it will spinoff its Euronext arm in an IPO, against some expectations that it would sell the unit as it completes its $10bn takeover of NYSE Euronext today Tesla responds to recent reports and states that there definitely will not be a Model S recall T-Mobile is reportedly looking at a secondary offering to raise $1.8bn which it could use to acquire wireless airwaves Activist hedge fund Third Point LLC announces that it has taken a stake in FedEx and that it had met with the CEO to discuss how its performance could be improved Christie’s sold over $500bn worth of art in New York yesterday with Francis Bacon’s Three Studies of Lucian Freud selling for $142m, the most expensive work ever sold at auction Blackrock’s Fink states that stocks could decline as much as 15% due to political risks in China, Japan, France and the US, but does see a 7% return over the long term, assuming the global economy expands at 4% Today's Bloomberg Social Velocity Alerts, (BSV) Cisco Systems Inc (CSCO) Denbury Resources Inc (DNR) NQ Mobile Inc (NQ) Sarepta Therapeutics Inc (SRPT) SINA Corp/China (SINA) Wal-Mart Stores Inc (WMT) YRC Worldwide Inc (YRCW) Overnight Market News China has stated that while it will elevate the role of markets it will maintain the state’s dominance in the nation’s economic strategy South Korea is expected to announce the lifting of the financial stock short selling ban from tomorrow Economic Data Due 09:30 UK October Jobless Claims Change, -30k exp. -41.7k previous 09:30 UK September ILO Unemployment, 7.7% exp. 7.7% previous 19:00 US October Monthly Budget Statement, -$104.0bn exp. 23:50 Japan Q3 GDP, 0.4% exp. 0.9% previous Economic Events 10:30 UK Bank of England Quarterly Inflation Report UK Unemployment ILO 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). 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