Day Ahead, November 6th

Wednesday, November 6, 2013, Marketing Communication Opening Call The FTSE is called up around 20 points higher this morning UK Corporate Announcements Old Mutual details Q3 gross sales of £6.5bn up 11% with funds under management of £287.5bn Experian reports an H1 benchmark pre-tax profit of $573m up 2% and total organic revenues gained 3% at actual exchange rates Persimmon details that it has sold more than 3,000 homes under the governments help to buy plan, and has £650m in sales reserved beyond 2013 up 41%, with visitor levels to sites up 20% from last year EasyJet details an October load factor of 89.1% from 88.4% with passengers up to 5.53m from 5.25m FirstGroup states that trading has been in line, with H1 revenues of £3.3bn and a pre-tax profit of £28.3m from £19.7m Mondi announces an operating profit of €172m in Q3 up 25% and states an improved market condition for packaging Foxtons states that Q4 trading has started positively, Q3 revenues gained 18% and nine month EBITDA gained 23% Moneysupermarket.com states that Q3 trading has been in line with the forecasts Millenium & Copthorne announces a Q3 pre-tax profit of £21.2m down 6.6% and that current trading has been in line JD Wetherspoon states that Q1 LFL sales were ahead of the forecasts and stays confident of reasonable income for the full year UK News SSE warns that the risk of electricity price spikes this winter were higher than had been feared and that it was ‘politically unacceptable’ The Times writes that the private sector is creating 1,000 jobs a day, buoyed by growth in the services sector and that GDP is set to grow 1.3% this quarter, 5.3% annualised, increasing calls that interest rates need to increase The FCA has strengthened listing rules to protect minority shareholders, to look to avoid recent scandals at ENRC and Bumi, however some fear it could push potential listings elsewhere Depending on the success of Merlin Entertainments Blackstone is reportedly looking at a possible sale of Centre Parcs HSBC has dropped out of talks on a possible Euribor probe settlement, the EU regulators are seen handing out fines as early as next month FTSE 100 Dividends: Barclays PLC, BARC, (1),  BP PLC, BP/, ($0.095),  Bunzl PLC, BNZL, (10),  Unilever PLC, ULVR, (22.80),  Whitbread PLC, WTB, (21.80) FTSE 100 Estimated Dividend Impact: 6.2 Points FTSE 250 Dividends: Ashmore Group PLC, ASHM, (11.75),  Dechra Pharmaceuticals PLC, DPH, (9.66),  Hunting PLC, HTG, (4.75),  Laird PLC, LRD, (4.10),  Pace PLC, PIC, (1.0728) FTSE Small Share: Centaur Media PLC, CAU, (1.575),  Dunedin Income Growth Investment Trust PLC, DIG, (2.575),  Ecofin Water & Power Opportunities PLC/fund, ECWO, (1.625),  Henderson Far East Income Ltd, HFEL, (4.40),  JPMorgan Overseas Investment Trust PLC, JMO, (15),  Polar Capital Global Healthcare Growth & Income PLC, PCGH, (.55),  Schroder Real Estate Investment Trust Ltd, SREI, (.62),  Sthree PLC, STHR, (4.70),  Stobart Group Ltd, STOB, (2) UK Analyst Changes Big Yellow Rated New Hold At Liberum, Pt 496P Booker Group Rated New Buy At Berenberg; Pt 164P Hansteen Rated New Hold At Liberum, Pt 110P Londonmetric Rated New Hold At Liberum, Pt 128P Mothercare Rated New Overweight At Jpmorgan; Pt 450P Rbs Removed From Ubs’S Most Preferred List Ryanair Raised To Buy Vs Neutral At Nomura Safestore Rated New Buy At Liberum, Pt 203P St Modwen Rated New Buy At Liberum, Pt 406P Travis Perkins Cut To Neutral Vs Buy At Goldman Unilever Cut To Neutral Vs Buy At Nomura Unite Group Rated New Buy At Liberum, Pt 461P Workspace Rated New Buy At Liberum, Pt 546P UK Insider Buying E2V Technologies Plc, (E2V), 1 insider(s) bought 72338 shares, £1.48 Hiscox Ltd, (HSX), 1 insider(s) bought 10000 shares, £6.77 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 Symphony Internationa, (SIHL), 1 insider(s) bought 248444 shares, £0.47 Telecity Group Plc, (TCY), 2 insider(s) bought 13000 shares, £7.54 UK Insider Selling Adept Telecom Plc, (ADT), 3 insider(s) sold 450000 shares, £1.3 Allocate Software Plc, (ALL), 1 insider(s) sold 223882 shares, £1.12 Berendsen Plc, (BRSN), 1 insider(s) sold 18850 shares, £9.73 Camco Clean Energy Plc, (CCE), 1 insider(s) sold 2041933 shares, £0.07 Diageo Plc, (DGE), 1 insider(s) sold 5000 shares, £19.98 Rps Group Plc, (RPS), 1 insider(s) sold 100000 shares, £2.89 Smiths News Plc, (NWS), 1 insider(s) sold 89786 shares, £2.09 Telecity Group Plc, (TCY), 1 insider(s) sold 102426 shares, £7.69 FTSE 100 Movers UK IPO's Issuer Name Pricing Date Applied Graphene Materials 11/19/2013 EU Supply PLC 11/13/2013 Everyman Media Group Plc 11/07/2013 Infinis Energy Plc 11/15/2013 Merlin Entertainments plc 11/08/2013 Mincon Group Plc 11/30/2013 Oxford Immunotec Global PLC Rightster Group plc 11/30/2013 Servelec Group Plc Universal Movers Corp Major European Companies Reporting Adecco SA, Q3, 0.923,  Ageas, Q3, 0.725,  Aker Solutions ASA, Q3, 1.758,  Alstom SA, S1, 1.195,  Andritz AG, Q3, 0.48,  Axel Springer AG, Q3, 0.5,  Brenntag AG, Q3, 1.66,  DCC PLC, S1, 0.477,  Endesa SA, Q3, 0,  Enel Green Power SpA, Q3, 0,  Experian PLC, S1, 0.42,  Firstgroup PLC, S1, 0,  FLSmidth & Co A/S, Q3, 5.363,  Fraport AG Frankfurt Airport Services Worldwide, Q3, 1.463,  ING Groep NV, Q3, 0.26,  Lafarge SA, Q3, 1.15,  Lundin Petroleum AB, Q3, 0.094,  Natixis, Q3, 0.08,  Prysmian SpA, Q3, 0.355,  SCOR SE, Q3, 0.537,  Smurfit Kappa Group PLC, Q3, 0.38,  Tenaris SA, Q3, 0.327,  Vestas Wind Systems A/S, Q3, 0.034,  Voestalpine AG, Q2, 0.58,  Wendel SA, Q3, 0 European Market Summary Alstom announces that it is looking to raise €1-2bn through asset sales as it details an H1 operating profit of €695m, ahead of the consensus of €664m The EC warns that the weak growth in the region would mean that it will not be until 2015 that there will be a drop in the jobless totals Bloomberg highlights how the Spanish IBEX 35 has gained 30% from June lows, the strongest risk-adjusted performance among the 24 developed markets as global investors increasingly start to move back into Southern Europe Global Market Footprint Major US Stock Movers After Hours Tesla came off 12% after the all electric cars failed to meet the top end of estimates, the stock has already gained 500% this year Mindspeed gained 68% as it announces that it is to be acquired by Macom for $5.05/share Fox dropped 2% as it announces Q1 adjusted EPS numbers under the expectations S&P 500 Companies Reporting CBS Corp, Q3, 0.76,  CenterPoint Energy Inc, Q3, 0.353,  CenturyLink Inc, Q3, 0.628,  Chesapeake Energy Corp, Q3, 0.418,  Devon Energy Corp, Q3, 1.187,  Duke Energy Corp, Q3, 1.511,  EOG Resources Inc, Q3, 2.039,  Expeditors International of Washington Inc, Q3, 0.484,  Hospira Inc, Q3, 0.446,  Humana Inc, Q3, 2.166,  Integrys Energy Group Inc, Q3, 0.455,  Leucadia National Corp, Q3, 0,  Marsh & McLennan Cos Inc, Q3, 0.459,  Molson Coors Brewing Co, Q3, 1.393,  Mondelez International Inc, Q3, 0.402,  NYSE Euronext, Q3, 0.548,  Pepco Holdings Inc, Q3, 0.437,  Prudential Financial Inc, Q3, 2.108,  QUALCOMM Inc, Q4, 1.081,  Ralph Lauren Corp, Q2, 2.198,  Tesoro Corp, Q3, 0.496,  Time Warner Inc, Q3, 0.89,  Transocean Ltd, Q3, 1.069,  Whole Foods Market Inc, Q4, 0.311 US Market News The CCFTC announces it has voted 3:1 to back new rules to limit the size of any one trader’s footprint in the commodities market A US federal bankruptcy judge has cleared the way for MF Global’s 20,000 customers to collect their full $1.6bn in funds, covering the remaining shortfall Today's Bloomberg Social Velocity Alerts, (BSV) AT&T Inc (T) ExOne Co/The (XONE) Kandi Technologies Group Inc (KNDI) Rio Tinto PLC (RIO) Silver Standard Resources Inc (SSRI) Vringo Inc (VRNG) Overnight Market News Toyota reports a Q3 net income of 438bn yen ahead of analysts’ estimates of 444.7bn yen Taiwan’s Acer fell by 7% after it announces a record loss and its CEO and chairman has resigned, citing the continued slowdown in PC and laptop sales into other devices Economic Data Due 09:00 Eurozone PMI Services, 50.9 exp. 50.9 previous 09:30 UK September Industrial Production, 0.6% exp. -1.1% previous 15:00 US September Leading Index, 0.6% exp. 0.7% previous Economic Events US Treasury Announces Quarterly Refunding UK Manufacturing 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.