Day Ahead, November 26th

Tuesday, November 26, 2013, Marketing Communication Opening Call The FTSE 100 is called to open around unchanged today UK Corporate Announcement Highlights De La Rue announces an H1 operating profit of £39.1m on revenues fell 5% to £234m with banknote printing down 10% to £2.6bn Paragon announces an underlying pre-tax profit of £104.1m from £94.2m and states that landlords are more optimistic about private rentals and details that its Finance Director is to retire Kcom Group details an H1 pre-tax profit of £25.8m from £26.2m on revenues of £185m from £188m and states that its chairman is to become CEO from April 1 2014 and confirms its full year targets Scapa states that it sees its full year in line with the expectations Mitchells & Butlers announces a full year adjusted pre-tax profit of £150m from £83m on revenues of £1.9bn largely in line and states that it remains cautious about the economic recovery Britvic states that current trading is slightly ahead of last year, on revenues of £1.32bn up 4.4% and sees its full year EBIT between £148-156m Severn Trent reports an H1 adjusted pre-tax profit of £141.3m from £150m on revenues of £922m from £917m and states it remains on track to meet its full year targets UK Corporate Announcements Due Astrazeneca Plc, AZN, (Pr), Britvic Plc, BVIC, e, (CC), Britvic Plc, BVIC, 0.336 est, (R), Daejan Holdings Plc, DJAN, (R), De La Rue Plc, DLAR, e, (CC), De La Rue Plc, DLAR, 0.246 est, (R), Greencore Group Plc, GNC, 0.14 est, (R), Greencore Group Plc, GNC, e, (CC), Hikma Pharmaceuticals Plc, HIK, (Pr), Jpmorgan Smaller Cosit Plc, JMI, (SM), Kcom Group Plc, KCOM, e, (CC), Kcom Group Plc, KCOM, 0.039 est, (R), Mitchells & Butlers Plc, MAB, 0.336 est, (R), Paragon Group Companies Plc, PAG, 0.257 est, (R), Severfield-Rowen Plc, SFR, (SM), Severfield-Rowen Plc, SFR, e, (CC), Severfield-Rowen Plc, SFR, (R), Severn Trent Plc, SVT, e, (CC), Severn Trent Plc, SVT, 0.448 est, (R), St. Ives Plc, SIV, (SM), Topps Tiles Plc, TPT, e, (CC), Topps Tiles Plc, TPT, 0.05 est, (R), Vp Plc, VP, e, (CC), Vp Plc, VP, (R), Wolseley Plc, WOS, (SM) UK News The Times writes on how the calls for a break up at Lloyds and RBS continues, with some suggesting the two could be split into six banks A new report suggest that UK commuter trains could offer carriages with virtually no seats, in order to increase capacity at peak times and increase competition in the sector UK Analyst Changes Glencore Xstrata Cut To Neutral Vs Buy At Bofaml Intermediate Capital Cut To Neutral Vs Buy At Bofaml Lonmin Raised To Buy Vs Neutral At Bofaml Meggitt Cut to 'Outperform' at RBC Capital Standard Chartered Raised To Outperform Vs Neutral: Macquarie UK Insider Buying Alent Plc, (ALNT), 2 insider(s) bought 21000 shares, £3.25 Ddd Group Plc, (DDD), 1 insider(s) bought 100000 shares, £0.07 Kofax Plc, (KFX), 1 insider(s) bought 10000 shares, £3.83 Oxford Biomedica Plc, (OXB), 1 insider(s) bought 208000 shares, £0.02 Rurelec Plc, (RUR), 1 insider(s) bought 400000 shares, £0.13 Terra Capital Plc, (TCA), 1 insider(s) bought 180000 shares, £0.49 UK Insider Selling Craneware Plc, (CRW), 1 insider(s) sold 470588 shares, £4.5 Legal & General Group P, (LGEN), 1 insider(s) sold 121000 shares, £2.13 FTSE 100 Movers UK IPO's Issuer Name Pricing Date 11/28/2013 Eclectic Bar Group Plc 12/02/2013 SyQic plc Major European Companies Reporting Britvic PLC, R, 0.336,  Colruyt SA, S1, 0,  De La Rue PLC, S1, 0.246,  Remy Cointreau SA, S1, 1.568,  Severn Trent PLC, S1, 0.448 European Market Summary Bayer is in early stage talks to buy Algeta for Nok336/share, the pharmaceutical closed yesterday at Nok264 Remy Cointreau states that full year operating profit if to show a substantial drop after a less favourable business environment in H2 The Swiss National Bank’s Jordan states that he sees no reason to remove the ceiling on the Swiss Franc Peugeot announces that former COO at Renault Carlos Tavares is to replace its current CEO in 2014, he will be the third CEO at the automaker in the past seven years The EU has warned the US that the safe harbour pact that allows companies such as Google and Microsoft to operate in Europe without EU oversight could be threatened unless the US amends the way it treats EU citizen’s data Fiat has stated that it is no longer practicable for Chrysler to launch and complete an IPO before the end of 2013, it is now expected in Q1, 2014 The WHO states that a recent increase in the number of HIV infections in Greece could be intentional as sufferers receive an extra €700/month under current Greek law and suggest that as many as half of the new cases could be self inflicted Global Market Footprint Major US Stock Movers After Hours Perfect World the online game manufacturer gained 10% after hours as it reported Higher Q3 revenues of $136m S&P 500 Companies Reporting Analog Devices Inc, Q4, 0.582,  Hewlett-Packard Co, Q4, 0.999,  Hormel Foods Corp, Q4, 0.542,  Pall Corp, Q1, 0.68,  Tiffany & Co, Q3, 0.58 US Market News Blackstone details that it now plans an IPO of its La Quinta unit ahead of a possible sale Blackberry announced a raft of high level changes yesterday, with its CFO, COO and head of marketing all leaving David Einhorn’s Greenlight Capital has invested $402m in Micron Technology, the largest US based maker of memory chips Wal-Mart announced yesterday that its CEO will retire early next year Qualcomm announces that Chinese anti-trust authorities have started an investigation into its local operations After fresh highs post by the Dow and S&P 500 in recent weeks the Nasdaq moved above 4,000 for the first time in over 13 years intraday yesterday Today's Bloomberg Social Velocity Alerts, (BSV) Ariad Pharmaceuticals Inc (ARIA) Copart Inc (CPRT) Forestar Group Inc (FOR) Nuance Communications Inc (NUAN) Rio Tinto PLC (RIO) Simon Property Group Inc (SPG) Simon Property Group Inc (SPG) Workday Inc (WDAY) Overnight Market News Draft rules from the China Banking Regulatory Commission have been drawn up to attempt to stop banks from evading lending limits by structuring loans to other institutions but that are recorded as asset sales Economic Data Due 13:30 US October Housing Starts, 923k exp. 15:00 US November Consumer Confidence, 72.1 exp. 71.2 previous Economic Events Carney at UK Treasury Committee US Consumer Confidence 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 Dividends:- net prices are given as default, however where applicable gross dividends are detailed (g) UK Corporate Announcements Key:- est, UK earnings estimates when available, (CC) Conference Call, (Pr) Press Event, News Conference, (R) Results, Interims/Finals, (SM) Shareholder Meeting,  (Oth) Other Event 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”). 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