Day Ahead, November 5th

Tuesday, November 5, 2013, Marketing Communication Opening Call The FTSE is called to open up around 10 points higher today UK Corporate Announcements Marks & Spencer announces an H1 underlying pre-tax profit of £261m against estimates of £2.73m seen, on group sales of £4.9bn and sees H1 gross margin growing 30-50 basis points, and maintains its full year outlook G4S states that H1 trends have broadly continued with nine month revenues up 6.4% and that trading conditions remain challenging in Europe and US Imperial Tobacco reports a full year adjusted operating profit of £3.18bn in line with the estimates and states that the market conditions remain tough Associated British Foods announces a full year adjusted operating profit of £1.185bn up 10% with revenues up 9% to £13.3bn, broadly in line Intercontinental Hotels Q3 revpar gained 3.3% with nine month revpar up 3.6% buoyed by growth in Asia, Middle East and Africa RSA Insurance states that full year weather losses are seen materially above its assumptions and sees its 2013 ROE to be below 10% Legal & General details it is cutting 600 jobs from its LGAS unit, and details AUM of £443bn with nine month net cash generation of £740m from £616m in 2012 Balfour Beatty states that prospects in the UK and US were improving but that trading in Australia stays tough UK News The Co-op states that it may take five years to fix its banking unit as it details it will hand control of the unit to a group of bondholders and will close around 50 of its branches G4S and Serco stay in focus as the UK Serious Fraud Office announced yesterday it was investigating government billing The LSE is reportedly in talks with Singapore Exchange to provide technology to clear cash equities in the region UK Analyst Changes 3I Group Cut To Hold Vs Buy At Liberum Bskyb Cut From Conviction Buy At Goldman, Still A Buy Electra Private Equity Cut To Hold Vs Buy At Liberum Informa Cut To Neutral Vs Buy At Goldman Pearson Cut To Neutral Vs Buy At Goldman Ubm Added To Conviction Buy List At Goldman Weir Group Cut To Neutral Vs Overweight At Jpmorgan UK Insider Buying Aggreko Plc, (AGK), 1 insider(s) bought 3500 shares, £15.88 E2V Technologies Plc, (E2V), 1 insider(s) bought 72338 shares, £1.49 Inchcape Plc, (INCH), 5 insider(s) bought 1605 shares, £6.39 Ipplus Plc, (IPP), 1 insider(s) bought 35430 shares, £0.28 Ixico Plc, (IXI), 1 insider(s) bought 9729 shares, £0.51 Regenersis Plc, (RGS), 1 insider(s) bought 4459 shares, £2.7 Royal Dutch Shell Plc-A, (RDSA), 1 insider(s) bought 2000 shares, £20.96 Spirit Pub Co Plc, (SPRT), 3 insider(s) bought 66036 shares, £0.73 UK Insider Selling Allocate Software Plc, (ALL), 1 insider(s) sold 223882 shares, £1.12 Bp Plc, (BP/), 1 insider(s) sold 154821 shares, £4.85 Croda International Pl, (CRDA), 1 insider(s) sold 300 shares, £24.06 Diageo Plc, (DGE), 1 insider(s) sold 5000 shares, £19.98 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 Plc 11/15/2013 Merlin Entertainments plc 11/08/2013 Rightster Group plc 11/30/2013 Servelec Group Plc Universal Movers Corp Major European Companies Reporting Associated British Foods PLC, R, 0.978,  Bayerische Motoren Werke AG, Q3, 1.823,  Beiersdorf AG, Q3, 0.539,  Fresenius Medical Care AG & Co KGaA, Q3, 0.913,  Fresenius SE & Co KGaA, Q3, 1.432,  Gas Natural SDG SA, Q3, 0.41,  Grifols SA, Q3, 0.24,  Hannover Rueck SE, Q3, 1.517,  Holcim Ltd, Q3, 1.376,  Imperial Tobacco Group PLC, R, 2.091,  InterContinental Hotels Group PLC, Q3, 0.757,  Koninklijke DSM NV, Q3, 0.875,  Marks & Spencer Group PLC, S1, 0.138,  Pirelli & C. SpA, Q3, 0.185,  Sampo, Q3, 0.664,  Sky Deutschland AG, Q3, -0.024,  Symrise AG, Q3, 0.431 European Market Summary BMW announces Q3 EBIT of €1.93bn ahead of forecasts of around €1.86bn seen Vivendi has sold 53% of Maroc Telecom to Etisalat for €4.2bn Rabobank has had its outlook changed to negative from stable by S&P Global Market Footprint Major US Stock Movers After Hours GT Advanced technologies gained 145 as it announces it has signed a pact with Apple Broadsoft came off 18% as it announces Q3 numbers broadly in line but cites its Q4 outlook to 34-49c against forecasts of 51c S&P 500 Companies Reporting Becton Dickinson and Co, Q4, 1.463,  CH Robinson Worldwide Inc, Q3, 0.73,  Cognizant Technology Solutions Corp, Q3, 1.009,  Consolidated Edison Inc, Q3, 1.416,  CVS Caremark Corp, Q3, 1.02,  DaVita HealthCare Partners Inc, Q3, 0.964,  Delphi Automotive PLC, Q3, 0.946,  Denbury Resources Inc, Q3, 0.428,  DIRECTV, Q3, 1.007,  Dominion Resources Inc/VA, Q3, 0.902,  Emerson Electric Co, Q4, 1.112,  FirstEnergy Corp, Q3, 0.918,  Fossil Group Inc, Q3, 1.362,  Frontier Communications Corp, Q3, 0.058,  Health Care REIT Inc, Q3, 0.961,  Host Hotels & Resorts Inc, Q3, 0.265,  IntercontinentalExchange Inc, Q3, 1.84,  International Flavors & Fragrances Inc, Q3, 1.184,  Mosaic Co/The, Q1, 0.735,  Newfield Exploration Co, Q3, 0.497,  ONEOK Inc, Q3, 0.299,  QEP Resources Inc, Q3, 0.39,  Regeneron Pharmaceuticals Inc, Q3, 1.886,  Rowan Cos Plc, Q3, 0.402,  Sempra Energy, Q3, 1.243,  Twenty-First Century Fox Inc, Q1, 0.348,  Zoetis Inc, Q3, 0.339 US Market News Twitter states that it is likely to price its IPO above the increased indicative range of $25/share with Bloomberg highlighting that the valuation puts it ahead of Facebook, which unlike Twitter is profitable and has five times as many users The WSJ highlights how investors are ‘stampeding’ into IPO’s at the fastest rate since the financial crisis and appears reminiscent of the 1990’s technology stock craze Blackberry stays in focus as it fell 16% yesterday, to its lowest level for 10 years as it abandons plans to sell itself, and its CEO steps down Kellogg announces that it is to cut 7% of its jobs and take a pre-tax charge of up to $1.4bn As expected SAC has finally agreed to plead guilty in the lengthy insider trading case and pay a $1.8bn fine Johnson & Johnson agrees to pay pines of over $2bn to settle cases that it paid kickbacks to pharmacists to market its treatments for diseases beyond their approved uses Today's Bloomberg Social Velocity Alerts, (BSV) iShares Silver Trust (SLV) Randgold Resources Ltd (GOLD) Overnight Market News The RBA states that the Australian dollar remains uncomfortably high as it leaves its cash rate target unchanged at 2.5% The Japanese financial regulator has opened a fresh probe into local lenders amid fears they have continue to make loans to criminal gangs Bloomberg highlights how over 2.2m vehicles in South Korea now have aircraft style black boxes, which records audio and video, as well as the time location and speed Economic Data Due 09:30 UK October PMI Services, 59.5, 60.3 previous 15:00 US October Non manufacturing ISM, 54.0 exp. 54.4 previous Economic Events EU Issues Autumn Econonic Forecasts US Manufacturing Orders 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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