Day Ahead, November 21

Thursday, November 21, 2013, Marketing Communication Opening Call The FTSE is called to open down around 20-25 points this morning UK Corporate Announcements National Grid details an H1 operating profit of £1.57bn and states that it has made a solid start to the year Dart Group announced a pre-tax profit of £78.1m up 37% and stays cautiously optimistic on full year profit growth as winter losses are seen to increase materially Johnson Matthey announces pre-tax profit gained 13% with sales up 13% to £1.5bn Daily Mail details a full year revenue of £1.8bn and a pre-tax profit of £282m stating it saw a good performance from B2B and sees another good year ahead SABMiller reports an H1 EBITA of $3.27bn just ahead of the forecasts, citing continued growth in the developing markets Investec announces an H1 adjusted EPS of 19.1p from 19.5p on H1 net interest income of £318.4m Intermediate Capital details an H1 adjusted pre-tax profit of £162.1m from £41.1m with total AUM down 6% to €12.1bn Qinetiq maintains its full year guidance as it details an adjusted pre-tax profit of £52.3m from £85.8m on revenues of £599m from £685m UK News The recent press coverage has forced the FCA to look into the directors and former directors of Co-Op bank and may yet consider taking action Vince Cable has warned that the flagship government scheme to aid lending to small and medium sized enterprises needs to be amended The Daily Telegraph highlights a report by the PSG the freelancing association which has a quarter of scientific and technical professional do not want a permanent jobs and prefer to work freelance The UK sells £4.75bn in Bonds at 10:30 UK Analyst Changes Aggreko Rated New Hold At Liberum, Pt 1,500P Antofagasta Cut To Neutral Vs Buy At Ubs Apr Energy Rated New Sell At Liberum, Pt 890P Ashtead Rated New Buy At Liberum, Pt 765P Derwent London Raised To Buy Vs Neutral At Goldman Glaxo Removed From Citi’S Least Preferred List Great Portland Added To Conviction Buy List At Goldman Kenmare Resources Rated New Neutral At Macquarie, Pt 21P Legal & General Raised To Buy Vs Neutral At Bofaml Reed Elsevier Removed From Media Least Preferred Shrs At Bofaml Resolution Cut From Bofa’S Europe 1 List Segro Cut From Conviction Buy At Goldman, Still A Buy Severn Trent Cut To Neutral At Macquarie Speedy Hire Rated New Buy At Liberum, Pt 88P Staffline Cut To Hold At Liberum UK Insider Buying Bowleven Plc, (BLVN), 1 insider(s) bought 20000 shares, £0.43 UK Insider Selling Atkins (Ws) Plc, (ATK), 1 insider(s) sold 4700 shares, £13.02 FTSE 100 Movers UK IPO's Issuer Name Pricing Date 11/21/2013 Oxford Immunotec Global PLC 11/30/2013 Mincon Group Plc 12/02/2013 SyQic plc Major European Companies Reporting Daily Mail & General Trust PLC, R, 0.512,  Intermediate Capital Group PLC, S1, 0.333,  Investec PLC, S1, 0,  Johnson Matthey PLC, S1, 0.808,  National Grid PLC, S1, 0.21,  QinetiQ Group PLC, S1, 0,  SABMiller PLC, S1, 1.21,  ThyssenKrupp AG, R, -0.533 European Market Summary The ECB has named Ms Daniele Nouy as chair for the supervisory board of the new single supervisory mechanism Local press reports that Commerzbank plans to spend €220m in online banking investments by 2016 The euro came off quite sharply after reports suggest that the EBC may even be considering negative interest rates Global Market Footprint Major US Stock Movers After Hours Williams Sonoma gained 5% as it lifts its full year forecasts after detailing Q3 profit gained 16% S&P 500 Companies Reporting Abercrombie & Fitch Co, Q3, 0.445,  Autodesk Inc, Q3, 0.389,  Dollar Tree Inc, Q3, 0.597,  GameStop Corp, Q3, 0.568,  Gap Inc/The, Q3, 0.705,  Intuit Inc, Q1, -0.094,  Patterson Cos Inc, Q2, 0.479,  Ross Stores Inc, Q3, 0.799,  Target Corp, Q3, 0.625 US Market News The Fed minutes state tapering could start ‘in coming months’ as the data continues to improve Tribune Company the owner of the LA Times and Chicago Tribune announces it is laying off 700 employees Goldman suggests that prices in gold, copper, iron ore and soybeans could drop by 15% in 2014 Bticoin stays in the news with some papers highlighting the recent ‘crash’ in prices, as it  almost halved at one stage yesterday, but are less vocal at pointing out that it is trading at $640, against $120 in October Today's Bloomberg Social Velocity Alerts, (BSV) Aware Inc (AWRE) Green Mountain Coffee Roasters (GMCR) Moody's Corp (MCO) Staples Inc (SPLS) Overnight Market News The WTO dispure panel is expected to release its report on China rare earths restrictions Singapore overnight lifts its annualised GDP growth forecasts to 3.5-4% In Hong Kong trading Prince Frog fell 24% as it was the focus of a short selling alert from Glaucus Research Group who stated that its reported sales figures Economic Data Due 09:00 Eurozone November PMI Manufacturing 51.5 exp. 51.3 previous 13:30 US Initial Jobless Claims, 339k previous 13:30 US October PPI, -0.2% exp. -0.1% previous 15:00 US November Consumer Confidence, -14.0 exp. -14.5 previous Economic Events EU-China Summit in Beijing Eurozone PMI 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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