Day Ahead, November 14th

Thursday, November 14, 2013, Marketing Communication Opening Call The FTSE is seen recovering a good portion of yesterday’s losses on the open, called up around 40-50 points higher UK Corporate Announcements BBA Aviation states that trading in Q3 was marginally softer than expected and that month on month revenues remain volatile Taylor Wimpey states that it remains confident on delivering on its full year expectations and that the UK housing market stayed healthy in H2 and that it is well positioned in an improving market Great Portland Estates details an H1 NAV of £1.67bn and a pre-tax profit of £146m 3i Group states that H2 has started well and details a group NAV of 322p/share from 273p share and plans a 4p share special dividend Rexam announces results that overall are in line and expects the full year to show an improvement over 2012 Centrica states that the market remains challenging and sees lower full year profitability in British gas business but that it continues to make good strategic progress Burberry details an H1 adjusted pre-tax profit of £174m largely in line, on revenues of £1.03bn Carphone Warehouse announces an H1 adjusted pre-tax profit of £19m from £4m and confirms its full year forecasts WS Atkins states that it now sees its full year slightly ahead of the forecasts, as H1 revenues gained 12% to £915m and an underlying pre-tax profit of £50.7m Electrocomponents announces H1 underlying sales growth of 4% in October and sees full year sales at £634m and gross margin stable at 45% Pace states that it sees its full year revenues in line and that it expects the strong cash flow to continue UK News The FT writes on how rate rises are signalled ahead in 2014 as the economic recovery takes hold, after the governor of the Bank of England states that the economy was recovering much quicker than anticipated Royal Mail will be eyed today as leading bankers are due to meet with MPs to discuss if taxpayers lost out in the recent IPO Barclays is in the news as Sir Hector Sants the ex head of the FSA, the man brought in to lead a clean up at the bank has resigned, citing stress Bitcoin has continued its recent sharp rally and yesterday traded at a fresh all time high at $447 Following the news from Sainsbury yesterday Goldman has cut its neutral stance on Tesco to an outright sell The UK sells £2.25bn in bonds at 11:30 UK Analyst Changes Booker Group Raised To Conviction Buy Vs Neutral At Goldman Flybe Raised To Overweight Vs Neutral At Hsbc Gulf Keystone Raised To Overweight Vs Neutral At Hsbc Sainsbury Raised To Buy Vs Neutral At Citi Tesco Cut To Sell Vs Neutral At Goldman UK Insider Buying Bowleven Plc, (BLVN), 1 insider(s) bought 100000 shares, £0.45 Dcc Plc, (DCC), 1 insider(s) bought 2500 shares, £28.27 Dialight Plc, (DIA), 1 insider(s) bought 10870 shares, £9.15 Kofax Plc, (KFX), 1 insider(s) bought 28000 shares, £3.79 UK Insider Selling Bae Systems Plc, (BA/), 1 insider(s) sold 95000 shares, £4.51 Berendsen Plc, (BRSN), 1 insider(s) sold 50000 shares, £9.53 Diageo Plc, (DGE), 1 insider(s) sold 204782 shares, £20.5 FTSE 100 Movers UK IPO's Issuer Name Pricing Date 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 Just Retirement Group PLC 11/12/2013 Merlin Entertainments PLC 11/08/2013 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 3i Group PLC, S1, 0,  ACS Actividades de Construccion y Servicios SA, Q3, 0.48,  Banca Monte dei Paschi di Siena SpA, Q3, -0.005,  Banque Cantonale Vaudoise, Q3, 0,  Burberry Group PLC, S1, 0.29,  Davide Campari-Milano SpA, Q3, 0,  Electrocomponents PLC, S1, 0.069,  European Aeronautic Defence and Space Co NV, Q3, 0.511,  Exor SpA, Q3, 0,  Great Portland Estates PLC, S1, 0.047,  K+S AG, Q3, 0.275,  KBC Groep NV, Q3, 0.81,  Koninklijke Ahold NV, Q3, 0.193,  Merck KGaA, Q3, 2.178,  RWE AG, Q3, 0.1,  Sodexo, R, 3.219,  Telekom Austria AG, Q3, 0.16,  United Internet AG, Q3, 0.242,  Vivendi SA, Q3, 0.3,  Zurich Insurance Group AG, Q3, 6.807 European Market Summary EADS announces a Q3 EBIT of €663m in line with the forecasts The Guardian writes on how the EC has started a review of Germany’s persistently high export surplus, and suggests it could lead to sanctions against Berlin BNP Paribas announces it is to take a 25% stake in Fortis for €3.25bn France announces that Q3 GDP fell 0.1% and the median forecasts is for no growth Moody’s suggests that the Irish property market is starting to show signs of bottoming out Global Market Footprint Major US Stock Movers After Hours Cisco dropped 10% after hours as it reported Q1 adjusted EPS just ahead, but gave an outlook for Q2 under the forecasts, it attempted to blame the sliding demand on the recent revelations about NSA spying on internet activity S&P 500 Companies Reporting News Corp, Q1, 0.02 US Market News Yellen the nominated next chairman of the Fed states that the US economy needs to continue to improve before tapering begins Comscore details that Google had a 66.9% share of US web searches  in October, unchanged from September, Microsoft had 18% and Yahoo third with 11.3% The US Postal Service announces that it is to increase shipping prices by 2.4% in January The S&P 500 closed fresh highs again yesterday recovering from some early negative moves, as the outlook increasingly switches to retailers ahead of the holiday season JP Morgan details how dealings with social media remains difficult as a Q&A session with its vice chairman James Lee was called off after the Twitter feed was overloaded with ‘ribald’ questions and hostile jokes Today's Bloomberg Social Velocity Alerts, (BSV) BioMarin Pharmaceutical Inc (BMRN) Cisco Systems Inc (CSCO) Cisco Systems Inc (CSCO) Randgold Resources Ltd (GOLD) Randgold Resources Ltd (GOLD) Rio Tinto PLC (RIO) Sony Corp (SNE) Verizon Communications Inc (VZ) Overnight Market News Japan’s GDP gained 1.9% in Q3, ahead of the forecasts of 1.7% seen Nomura states that the Nikkei 225 could still be vulnerable to a 20% correction if the government does not do more to persuade investors that its stimulus efforts will succeed Economic Data Due 10:00 Eurozone Q3 GDP SA, 0.1% exp. 0.3% previous 13:30 US Initial Jobless Claims, 330k exp. 336k previous 13:30 US September Trade Balance, -$39.0bn exp. -$38.8bn previous Economic Events 14:00 Euro Area Finance Ministers Meet in Brussels EU GDP 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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