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Market news round up, upgrades & downgrades courtesy of Cantor Index

28 Feb 2013

Cantor Opening Call

  • The FTSE is seen gaining a further 30-35 points this morning, after the quick bout of profit taking earlier this week

UK Corporate Announcements

  • RBS announces a full year net loss of £5.97bn from £2bn and  cuts its bonus pool to £215m from £360m, with investment bank full year operating profit of £1.5bn from £900m, and sees the regulatory challenges continuing into 2013
  • Spirent suggests that its sees modest revenue growth in 2013
  • National Express states that it targets a reduction in gearing over the next two years
  • Rio Tinto announces that Chris Lynch is to succeed Guy Elliott as CFO
  • Kazakhmys details that its CFO Matthew Hird is to step down
 

UK Market News

  • The Bank of England’s Charlie Bean states that the central bank has no magic bullet to fix the economy and that it will ‘remain subdued’ on historical standards
  • The chief of the BBA has stated that the government must allow ailing banks to die
  • Standard Chartered may be in talks to buy the wealth unit of Morgan Stanley India


UK Insider Buying

  • 3I Group Plc, (III), 1 insider(s) bought 1575191 shares, £3.06
  • Craneware Plc, (CRW), 1 insider(s) bought 12800 shares, £3.95
  • Havelock Europa Plc, (HVE), 1 insider(s) bought 25000 shares, £0.18
  • Liontrust Asset Manag, (LIO), 1 insider(s) bought 16153 shares, £1.77
  • Morgan Sindall Group, (MGNS), 1 insider(s) bought 10000 shares, £5.23
  • Renold Plc, (RNO), 1 insider(s) bought 500000 shares, £0.25
  • Wh Smith Plc, (SMWH), 1 insider(s) bought 1000 shares, £6.82
 

UK Insider Selling

  • Bt Group Plc, (BT/A), 1 insider(s) sold 53259 shares, £2.66
  • Cml Microsystems Plc, (CML), 1 insider(s) sold 800000 shares, £4.1
  • Mitchells & Butlers Plc, (MAB), 1 insider(s) sold 8356 shares, £3.39
  • Rathbone Brothers Plc, (RAT), 1 insider(s) sold 3091 shares, £14.14
  • Weir Group Plc/The, (WEIR),  insider(s) sold 10890 shares, £22.16
  • Xp Power Ltd, (XPP),  insider(s) sold 120000 shares, £10.8
 

FTSE 100 Movers
 
 

Major European Companies Reporting

  • Acciona SA, R, 2.741,  Acerinox SA, R, -0.02,  Ackermans & van Haaren NV, R, 5.178,  ACS Actividades de Construccion y Servicios SA, R, -0.764,  Aeroports de Paris, R, 3.474,  Aixtron SE NA, R, -0.825,  Allreal Holding AG, R, 7.067,  Arkema SA, R, 7.095,  Bankia SA, R, -3.305,  Bayer AG, R, 5.425,  British American Tobacco PLC, R, 2.062,  Capita PLC, R, 0.519,  Capital & Counties Properties PLC, R, 0.017,  Cie Generale de Geophysique – Veritas, R, 0.74,  Cie Generale d’Optique Essilor International SA, R, 2.808,  Delta Lloyd NV, R, -6.055,  Derwent London PLC, R, 0.506,  Deutsche Telekom AG, R, 0.64,  Ebro Foods SA, R, 1.045,  Erste Group Bank AG, R, 1.129,  GDF Suez, R, 1.557,  Grifols SA, R, 0.889,  Hays PLC, S1, 0.024,  Hochtief AG, R, 2.54,  Howden Joinery Group PLC, R, 0.134,  International Consolidated Airlines Group SA, R, -0.071,  Jupiter Fund Management PLC, R, 0.191,  Koninklijke Ahold NV, R, 0.949,  Luxottica Group SpA, R, 1.268,  Man Group PLC, R, 0.08,  National Express Group PLC, R, 0.239,  Portugal Telecom SGPS SA, R, 0.32,  ProSiebenSat.1 Media AG, R, 1.843,  Reed Elsevier NV, R, 0.949,  Reed Elsevier PLC, R, 0.499,  Repsol SA, R, 1.571,  Royal Bank of Scotland Group PLC, R, 0.159,  Royal Imtech NV, R, 1.657,  Seadrill Ltd, R, 2.665,  Sika AG, R, 113.871,  Sky Deutschland AG, R, -0.22,  Snam SpA, R, 0.263,  Spirent Communications PLC, R, 0.134,  Tecnicas Reunidas SA, R, 2.469,  Telefonica SA, R, 1.178,  Telekom Austria AG, R, 0.386,  Thales SA, R, 2.664,  Veolia Environnement SA, R, 0.38,  Viscofan SA, R, 2.274
 

European Market Summary

  • European officials look set to ban bankers bonuses that are more than twice their fixed pay
  • GDF Suez announces that it is taking a €2bn impairment charge, mainly on its European assets
  • Draghi states that the ECB is in no rush to tighten monetary policy anytime soon as inflation is expectation to significantly undershoot its 2% target next year
 

Major US Stock Movers After Hours

  • Groupon fell 26% after hours as it announce it sees Q1 results under the forecasts, its official close was at $5.98, compared to highs of $25 shortly after its IPO in 2011
  • Mylan Labs gains 1.6% as it lifts its full year targets, and also details it is to buy Agila for $1.6bn
 

S&P 500 Companies Reporting

  • Cablevision Systems Corp, Q4, 0.1,  Gap Inc/The, Q4, 0.709,  Integrys Energy Group Inc, Q4, 0.946,  Iron Mountain Inc, Q4, 0.253,  Kohl’s Corp, Q4, 1.625,  Rowan Cos Plc, Q4, 0.479,  Salesforce.com Inc, Q4, 0.396,  WPX Energy Inc, Q4, -0.079
 

US Market News

  • Ben Bernanke has stated that the central bank may hold onto its $3.1tn balance sheet to maturity as it looks for an effective withdrawal from monetary easing
  • Federal authorities are looking into options trades in Heinz  in the hours before the $23bn move from Berkshire Hathaway, as the general press increasingly picks up on the fact that on nearly every major M&A deal options volumes spike in the hours and some cases days beforehand, putting pressure on the authorities to take action
  • Facebook could announce as early as today the acquisition of Microsoft Atlas
 

Overnight Market News

  • Asian markets have gained by the most in five years, recovering from the bout of profit taking that occurred on the Italian election non-result
  • Japanese PM Shinzo Abe has nominates Asian Development Bank President Harahiko Kuroda to head up the central bank, increasing the expectations for further monetary stimulus this year
  • The Reserve Bank of Australia suggest that its models has the Australian dollar overvalued by 4-15%
 

Economic Data Due

  • 00:01 UK February GfK Consumer Confidence, -27 exp. -26 previous
  • 08:55 German February Unemployment Change, -5k exp. -16k previous
  • 10:00 Eurozone January CPI, -1.0% exp. 0.4% previous
  • 13:30 US Q4 GDP, 0.5% exp. -0.1% previous
  • 13:30 US Initial Jobless Claims, 360k exp. 362k previous
 

Economic Events

  • IMF News Conference
 

US GDP
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