Day Ahead, November 8th

Friday, November 8, 2013, Marketing Communication Opening Call The FTSE is seen down around 30 points this morning UK Corporate Announcements Rolls Royce states that trading remains consistent and that it still sees a good growth in underlying revenues Hikma Pharma maintains its full year guidance of 20% revenue growth seen Rentokil details a Q3 pre-tax profit of £43.6m up 3.1% and states that it is encouraged by its main units’ organic revenue growth and despite the difficult conditions in Europe Bovis Homes states that trading has been in line and continues to be strong with average home selling prices up 10% in the full year Tullet Prebon states that trading has remained challenging with four month revenues down 9% to £252m IAG announces a Q3 operating profit ex items of €690m, ahead of the estimates of €651m seen UK News MSCI announces changes to its regional indexes, with Vedanta resources out of the UK Regional Index RBS agrees to pay the SEC $153m to settle charges it misled investors on a mortgage backed security Merlin Entertainment starts trading today as it sets its IPO at 315p, against the indicative range of 305p-330p valuing the group at £3bn, large enough to possibly move into the FTSE 100 at the next quarterly review Ofgem and the FCA have ruled that the wholesale gas market had no clear evidence of rigging in 2012 The FCA has stated that banks need to speed up the process of compensating small firms for the mis-selling of risky products, so far only 125 offers had been accepted by banking customers, against 30,000 cases The auction for the rights to show Champions League football closes today, with BT adding competition to the likes of BSkyB Ofcom has criticised Vodafone for not meeting its targets UK 3G coverage targets UK Analyst Changes Babcock International Raised From Neutral At Goldman Babcock International Raised To Conviction Buy At Goldman Eurotunnel Raised To Overweight Vs Equalweight: Morgan Stanley Inmarsat Cut To Equalweight Vs Overweight At Barclays Shanks Group Cut To Neutral Vs Outperform At Credit Suisse UK Insider Buying Croda International Pl, (CRDA), 1 insider(s) bought 4233 shares, £23.39 International Ferro Me, (IFL), 6 insider(s) bought 600000 shares, £0.09 Jupiter Fund Managemen, (JUP), 1 insider(s) bought 2513 shares, £3.95 Meggitt Plc, (MGGT), 1 insider(s) bought 15000 shares, £5.05 UK Insider Selling Andes Energia Plc, (AEN), 1 insider(s) sold 5000 shares, £0.21 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 Just Retirement Group Ltd 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 Allianz SE, Q3, 2.86,  Atlantia SpA, Q3, 0.4,  Banca Popolare di Sondrio SCARL, Q3, 0,  Cie Financiere Richemont SA, S1, 2.2,  International Consolidated Airlines Group SA, Q3, 0.205,  Meda AB, Q3, 0.608,  Ratos AB, Q3, 0.5,  Rheinmetall AG, Q3, 0.35,  SES SA, Q3, 0.36,  Telefonica SA, Q3, 0.23 European Market Summary The ECB surprised many yesterday buy cuttings its benchmark rate to a record low of 0.25%, while talks of rate increases in the US and UK mount S&P has cut its outlook on France to AA from AA+ but moves the outlook to stable from negative Global Market Footprint Major US Stock Movers After Hours Walt Disney announces Q4 revenues ahead of the forecasts and states it would rather join with Netflix than compete with them, as it announces a deal to create television series the onlline channel, but still slipped 2% after hours Salix Pharmaceuticals announces its is to buy Santarus for £2.6bn at $32/share, and gained 37% after hours on the news Priceline announces a new CEO as it detailed Q4 sales ahead of the forecasts Groupon gained 10% as it detailed Q3 numbers ahead of the forecasts, revenue in North America gained 24% S&P 500 Companies Reporting Covidien PLC, Q4, 0.896 US Market News Twitter naturally gets much of the headlines today after its strong debut yesterday US data out yesterday had the economy gaining 2.8% on an annualised basis in Q3, up from 2.5% in Q2 Today's Bloomberg Social Velocity Alerts, (BSV) Nuverra Environmental Solution (NES) Merck & Co Inc (MRK) Walt Disney Co/The (DIS) Overnight Market News Lenovo announces that it plans to triple the number of markets that it sells smartphones, focusing on the regions of the world where the iPhone is seen as far too costly Chinese exports gained 5.6% in October, well ahead of estimates of 1.7% seen, with some analysts suggesting the numbers may understate the true growth, as last year’s data was inflated by the over invoicing used to disguise capital inflows Economic Data Due 13:30 US October Change in Non Farm Payrolls, 125k exp. 148k previous 13:30 US September Personal Income, 0.3% exp. 0.4% previous 14:55 US November Uni. of Michigan Confidence, 74.0 exp. 73.2 previous Economic Events 20:30 Bernanke, Fischer, Summers speak on Financial Crises at IMF US Non Farm Payrolls 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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