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MARKET NEWS ROUND UP, UPGRADES & DOWNGRADES COURTESY OF CANTOR INDEX

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22 Feb 2013

Cantor Opening Call

  • The FTSE is seen opening up around 25-30 points today, recouping some of yesterday’s moves

 
Cantor Capital Graphs

UK Corporate Announcements

  • Millenium & Copthorne announces full year pre-tax profit of £171m down 11.4% and details that revpar gained 3.9% over the period
  • Armour Group states that the new financial year has started well
  • Theo Fennel states that it remains in offer talks with EME
 

UK Market News

  • The UK Treasury Select Committee states that banks should have to pay much larger fines if they fail to co-operate with investigations
  • The Bank of England’s Miles is in the press as he states that the bank should probably loosen policy to boost growth, and that QE could be raised by £175bn
  • The Times suggest that fuel prices look set to move to record levels by Easter
  • Bumi shareholders voted against Rothschild yesterday and may now separate itself off from the Bakrie family
  • Mace the company behind the building of The Shard has been chosen to manage a £780m project to build the world’s largest tower in Saudi Arabia
  • EBay’s PayPal unit is to launch its own chip and pin card reader to UK small business this year as it looks to get into the market ahead of interest from Square Inc and Intuit Inc
  • Onexim sells 37.8% of Polyus Gold for $3.6bn
  • The UK sells £2bn in bills at 11:10
 

UK Analyst Changes

  • Antofagasta Raised To Outperform Vs Underperform At Rbc
  • Csr Pt Raised 21% To 410P At Barclays, Stays Equalweight
  • Drax Cut To Neutral Vs Buy At Goldman
  • Fresnillo Rated New Sell At Socgen, Pt 1,200P
  • Interserve Cut To Add Vs Buy At Westhouse
 

UK Insider Buying

  • Conygar Investment Co, (CIC), 1 insider(s) bought 40000 shares, £1.05
  • Green Compliance Plc, (GCO), 1 insider(s) bought 500000 shares, £0.02
 

UK Insider Selling

  • Bank Of Georgia Holdin, (BGEO),  insider(s) sold 32727 shares, £13.87
  • Brammer Plc, (BRAM), 1 insider(s) sold 5500 shares, £3.4
  • Fidessa Group Plc, (FDSA), 1 insider(s) sold 1050 shares, £19.47
  • Fortune Oil Plc, (FTO), 1 insider(s) sold 478338 shares, £0.1
  • Lo-Q Plc, (LOQ), 3 insider(s) sold 330000 shares, £5
  • Rathbone Brothers Plc, (RAT), 2 insider(s) sold 17727 shares, £13.98
  • Reckitt Benckiser Grou, (RB/), 1 insider(s) sold 430 shares, £46.1
  • Rio Tinto Plc, (RIO),  insider(s) sold 11246 shares, £36.9
  • Synergy Health Plc, (SYR), 1 insider(s) sold 19493 shares, £10.2
 

FTSE 100 Movers
FTSE 100 Movers Graphic
 
 

Major European Companies Reporting

  • Acciona SA, R, 2.741,  Air France-KLM, R, -2.32,  AP Moeller – Maersk A/S, R, 4189.68,  CNP Assurances, R, 1.571,  Fuchs Petrolub AG, R, 2.88,  Gecina SA, R, 4.923,  SES SA, R, 1.477,  Valeo SA, R, 4.957
 

European Market Summary

  • Finmeccanica has delayed its 2012 full year results stating that it wanted to review the eventual effects of ‘important structural initiatives’
  • France is to freeze spending on higher education, research and defence in order to meet EU deficit targets this year
  • The FT suggests that Bankia today is expected to announce the largest corporate loss in Spanish history
 

Major US Stock Movers After Hours

  • HP stated that PC deterioration has been worse than expected and that it is ready to ‘go after’ Dell’s customers during its LBO, but still gained 6% after hours, and announces Q1 revenues of $28.36bn ahead of the forecasts
  • AIG gained as it detailed decent quarterly results and its CEO states that its dividend will depend on its ratings
 

S&P 500 Companies Reporting

  • Abercrombie & Fitch Co, Q4, 1.957,  Interpublic Group of Cos Inc/The, Q4, 0.521,  Monster Beverage Corp, Q4, 0.415,  Pinnacle West Capital Corp, Q4, 0.166,  Quanta Services Inc, Q4, 0.399,  Washington Post Co/The, Q4, 0
 

US Market News

  • The VIX has closed up at its highest level for 2013
  • Ben Bernanke stated to bankers in recent days that the risks of the Fed creating asset bubbles was minimal
  • KKR announces a $3.68bn move for Gardner Denver the industrial equipment maker, Gardner gained 5% after hours on the news
 

Overnight Market News

  • Singapore announced overnight that Q4 GDP gained 3.3% well ahead of the 2% expected
  • Billabong takes a record loss of $583m as it writes down the value of its main brand, the stock fell 5% on the news and it remains the target of a couple of bids
  • Japanese billionaire Kazuo Okada announces he has quite the board at Wynn Resorts ahead of a shareholder meeting tomorrow where he was expected to be ousted, after allegations he made illegal payments
 

Economic Data Due

  • 07:00 German GDP -0.6% previous
  • 09:00 German February IFO Business Climate
 

Economic Events

  • EC Releases Economic Growth Forecasts
 

German IFO

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