Day Ahead, November 1st

Friday, November 1, 2013, Marketing Communication Opening Call The FTSE is called to open up around 10 points higher today UK Corporate Announcements Meggitt states that underlying trading has been slightly under the expectations, and details it recently identified a raw materials supply issue Berendsen stays confident on its outlook as it states Q3 trading has been in line Direct Line Insurance announces a Q3 operating profit of £131.2m up 6.1% DS Smith states that the outlook remains positive as it continues to gain market share in packaging and that H1 trading has been in line UK News RBS announces a Q3 net loss of £828m from the loss of £1.48bn and details it is to set up an internal bad bank housing £38bn of assets, and states it sees a substantial full year loss after Q4 impairments, with the HM Treasury also stating that the banking group was not in appropriate shape for reprivatisation but it is to undertake a comprehensive review of its Ulster Bank unit The UK sells Bills at 10:10 Client Notice Please be aware that as part of a software upgrade at the LSE all UK equity GTC orders will be cancelled close of UK business Friday 1st November. Clients will need to re-enter UK equity GTC orders on Monday 4th November UK Analyst Changes Capita Rated New Sell At Liberum, Pt 880P Go-Ahead Cut To Sell Vs Neutral At Ubs Henderson Raised To Hold Vs Sell At Socgen Shell Cut To Hold Vs Buy At Socgen Wh Smith Cut From Ubs’S Least Preferred List UK Insider Buying Anite Plc, (AIE), 5 insider(s) bought 136635 shares, £0.9 Development Securitie, (DSC), 1 insider(s) bought 28347 shares, £2.29 In-Deed Online Plc, (IOL), 2 insider(s) bought 200000 shares, £0.12 Ixico Plc, (IXI), 1 insider(s) bought 4000 shares, £0.51 Laird Plc, (LRD), 1 insider(s) bought 3000 shares, £2.52 Rare Earth Minerals Lt, (REM), 1 insider(s) bought 2000000 shares, £0.01 Renewable Energy Gene, (WIND), 1 insider(s) bought 50000 shares, £0.78 Ricardo Plc, (RCDO), 1 insider(s) bought 820 shares, £6.05 Somero Enterprises In, (SOM), 1 insider(s) bought 10300 shares, £0.99 Tandem Group Plc, (TND), 1 insider(s) bought 5000 shares, £0.81 Tracsis Plc, (TRCS), 1 insider(s) bought 4032 shares, £1.86 UK Insider Selling Central Asia Metals Plc, (CAML), 1 insider(s) sold 158173 shares, £1.6 Fidessa Group Plc, (FDSA), 3 insider(s) sold 41277 shares, £20.4 Menzies (John) Plc, (MNZS), 1 insider(s) sold 108750 shares, £8.03 FTSE 100 Movers UK IPO's Issuer Name Pricing Date Applied Graphene Materials 12/31/2014 EU Supply PLC 11/30/2013 Everyman Media Group Plc 11/07/2013 Infinis Energy Ltd 11/30/2013 Merlin Entertainments plc 11/12/2013 Oxford Immunotec Global PLC Rightster Group plc 11/30/2013 Servelec Group Plc Universal Movers Corp Major European Companies Reporting Royal Bank of Scotland Group PLC, Q3, 0.054,  TDC A/S, Q3, 0.999 European Market Summary France has a public holiday today, however the markets remain open French football has threatened a strike after President Hollande states there would no exemption for footballers to the planned 75% tax rate on salaries above €1m S&P cuts its rating on Ukraine to B- from B remaining with a negative outlook Credit Suisse has dismissed a trader and suspended his manager after an unauthorised $6m loss on exchange traded fund trading Global Market Footprint Major US Stock Movers After Hours Green Dot gained over 10% in late trading as it announces Q3 adjusted EPS of 24c against forecasts of 21c seen Body Central came off 18% as it reported a Q3 EPS loss of 55 and detailed it was cutting jobs S&P 500 Companies Reporting Berkshire Hathaway Inc, Q3, 2402.9,  Chevron Corp, Q3, 2.698,  Life Technologies Corp, Q3, 0.963,  NextEra Energy Inc, Q3, 1.401,  Washington Post Co/The, Q3, 0 US Market News AT&T reportedly is looking to explore Vodafone takeover talks in 2014 Google’s PR firms work in overdrive stating that the group has spent months and millions of dollars on encryption technology, in response to users concerns of snooping, from individuals or governments Time Warner details it lost 336,000 subscribers in Q3 as it was affected by the contract dispute which resulted in a blackout of CBS programming for an extended period The WSJ writes that the CFTC is so ‘cash starved’ it is being forced to delay and in some cases abandon probes into alleged market abuses Twitter is due to price its IPO next Wednesday and reports suggest it has already seen strong investor interest Microsoft is getting calls to consider spinning off its Xbox arm from its co-founder Paul Allen Today's Bloomberg Social Velocity Alerts, (BSV) Sony Corp (SNE) Overnight Market News Sony fell 12% overnight after it announces it was cutting its profit forecasts by 40% Nissan has cut its full year net income forecast by 15% to 355bn yen Economic Data Due 09:30 UK October PMI Manufacturing, 56.5 exp. 56.7 previous 14:00 US October Manufacturing ISM, 55.0 exp. 56.2 previous Economic Events None Detailed Manufacturing ISM 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. This note is not “investment research”, a “research recommendation” or a product of the Research Department. Please be aware that the CFE Research Department may issue a formal recommendation and target price on the stocks mentioned, which may differ from the opinion given here.  This note may contain information obtained by CFE from third parties; the source of information will usually be disclosed.  CFE makes no representation and gives no warranty as to the accuracy or completeness of the contents of this note. Any person placing reliance upon this note does so at their own risk. Investors should consider this note as only a single factor in making their investment decision. The investment discussed in this note may be unsuitable for investors depending on their specific investment objectives and financial position. CFE, its officers, employees and affiliates shall not be liable to any person in any way whatsoever for any losses, costs or claims howsoever arising from any inaccuracies or omissions in this note or any reliance on this note. The recipient is strongly recommended to see independent legal, tax and financial advice. Past performance is not necessarily a guide to future performance. Income from investments may fluctuate. The price or value of the investments to which this note relates; either directly or indirectly, may fall or rise against the interest of investors. This note should not be considered to be a solicitation nor an offer of advice for the purposes of the sale or purchase of any security, investment or derivative.  The information contained in this note is not intended to form the basis of any investment decision and should not be considered a recommendation by CFE or any other person in relation to any of the companies, stock, commodities, currencies or other markets mentioned / referred to in this note. All the information contained herein is based upon information available to the public and has been obtained from sources believed to be reliable. However, the information contained in this note has not been verified by CFE and CFE undertakes no obligation to provide recipients of this note with any additional information or any update to or correction of the information contained in this note. This note is provided by CFE and may be forwarded unamended and in its entirety. This note may not be used in whole or in part to create any other work. All rights reserved. FTSE International Limited (“FTSE”) © FTSE [2013]. “FTSE®” is a trade mark of the London Stock Exchange Group companies and is used by FTSE International Limited under licence. All rights in the FTSE indices and / or FTSE ratings vest in FTSE and/or its licensors. Neither FTSE nor its licensors accept any liability for any errors or omissions in the FTSE indices and / or FTSE ratings or underlying data. No further distribution of FTSE Data is permitted without FTSE’s express written consent. CFE is authorised and regulated by the FCA under Firm Reference Number 149380.   CFE – The Financial Services Register Information: http://www.fsa.gov.uk/register/firmBasicDetails.do?sid=61341 Registered in England No. 02505767 Registered Address: One Churchill Place, Canary Wharf, London, E14 5RB Risk Warning Trading CFDs carries a high level of risk to your capital and is not suitable for all customers. Furthermore, margined products use leverage to increase the level of exposure to the product, and as a result your losses may substantially exceed your initial deposit and require you to make additional deposits at short notice. Prior to trading leveraged CFDs, you should carefully consider your investment objectives, experience and risk appetite and should not invest money that you cannot afford to lose. Spread Bets are leveraged products placing your capital at risk. Losses can quickly exceed your initial deposit and thus require you to make additional deposits at short notice to maintain your positions. Leveraged products are not suitable for all customers. Please ensure you understand the risks involved before opening an account. You should ensure you fully understand the risks and seek independent financial advice if in doubt. CFE provides an execution only service and does not offer investment advice. These products are not intended for people under the age of 18 or for US residents. The distribution of this note in other jurisdictions may be restricted by law and persons into whose possession this note comes should inform themselves about and observe any such restrictions. By accepting this note you agree to be bound by the foregoing instructions.