4 mins. to read
1 March 2013
Cantor Opening Call
  • The FTSE is called down 20 points lower this morning
Cantor Capital Graphs
UK Corporate Announcements
  • Lloyds announces a full year net loss of £1.34bn, just inside the forecasted net loss of £1.45bn profit of $638m
  • Stagecoach states that the prospects for the group remain positive and maintains its full year adjusted EPS
  • BBA Aviation announces full year revenues gained 2% to $2.18bn with full year underlying pre-tax profit of $163m and sees good progress in 2013
  • Taylor Wimpey reports full year operating profit gained 44% to £230m with margins up to 11.5%
  • Old Mutual details a full year pre-tax operating profit of £1.62bn and had funds under management of £262.2bn
  • Hammerson details that full year rental income fell 1.9% and targets strong profit and dividend growth
  • William Hill reports full year revenues of £1.14bn just under the forecasts of around £1.27bn seen
  • WPP reports a full year headline EBITDA of £1.76bn from £1.64bn and confirms its full year targets
  • UBM announces revenues from continuing operations of £797.8m up 2%
  • Rightmove announces full year revenues of £119m, just ahead of the forecasts
UK Market News
  • The FTSE has been quick to recover much of the losses posted on the Italian election result and ends higher for February the ninth monthly gain
  • Lloyds is also in the news on reports that the government has signalled that it may sell shares if the share price reaches 61p
  • Rio Tinto is reportedly looking to sell its Canadian iron ore operations
  • BSKyB announces it buys Telefonica’s UK broadband business
  • Playtech announces that William Hill exercises its option to buy back Playtech’s stake in William Hill Online for £424m
  • The Lib-Dems have managed to hold onto their Eastleigh seat with 13,342 votes, while UKIP came second with 11,571, the bi-election was triggered by the resignation of Chris Huhne
  • Boris Johnson has stated that the planned EU bonus rules are deluded and self defeating
  • The Telegraph suggests that investors of National Express are pushing for the group to exit the UK rail industry
  • The UK sells £3.5bn in bills at 11:10
UK Analyst Changes
  • Asos Raised To Buy Vs Hold At Socgen
  • Xchanging Raised To Overweight Vs Neutral At Jpmorgan
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
FTSE 100 Movers Graphic
Major European Companies Reporting
  • Andritz AG, R, 2.438,  Belgacom SA, R, 2.237,  Hammerson PLC, R, 0.198,  Koninklijke Vopak NV, R, 2.715,  Lloyds Banking Group PLC, R, 0.022,  Old Mutual PLC, R, 0.172,  PSP Swiss Property AG, R, 3.533,  Rightmove PLC, R, 0.6,  Taylor Wimpey PLC, R, 0.041,  UBM PLC, R, 0.571,  William Hill PLC, R, 0.283,  WPP PLC, R, 0.727
European Market Summary
  • ThyssenKrupp’s offices have been raided as part of the probe by German authorities into the steel suppliers
  • Paulson has stated that he will vote to oppose the MetroPCS T-Mobile deal
  • The ECB’s VP states that the EU needs a plan for cross border bank failures goes beyond the current proposals
  • Bertelsmann announces that it is to take full control of BMG
  • The Finnish PM states that the gridlock in Italy risks the years of crisis fighting work
Major US Stock Movers After Hours
  • Alaska Communications gained 16.3% as it details that Q4 revenues gained 8.7%
S&P 500 Companies Reporting
  • Pepco Holdings Inc, Q4, 0.202
US Market News
  • The US is set for steep budget cuts as the Congress has been adjourned for the weekend despite today’s deadline, estimates are that the cuts will cost 750,000 jobs
  • Groupon fired its CEO yesterday after its latest poor set of results and remains considerably under its IPO price, which was widely criticised at the time as being too high, the stock recovered 4% after hours on the news
Overnight Market News
  • Chinese manufacturing PMI has fallen to 50.1, under the forecasts of around 50.5 seen, and commodities fell for the fourth day on the news, and on the expectation of US spending cuts
Economic Data Due
  • 09:00 Eurozone February Manufacturing PMI, 47.8 exp. 47.8 previous
  • 09:30 UK February Manufacturing PMI, 51.0 exp. 50.8 previous
  • 10:00 Eurozone February CPI, 2.0% exp. 2.0% previous
  • 13:30 US January Personal Income, -2.0% exp. 2.6% previous
  • 13:30 US January Personal Spending, 0.2% exp. 0.2% previous
  • 15:00 US January Construction Spending, 0.4% exp. 0.9% previous
  • 15:00 US February Manufacturing ISM, 52.5 exp. 53.1 previous
Economic Events
  • US deadline for automatic spending cuts
  • S&P Dow Jones Index quarterly review preliminary announcement

US Manufacturing ISM

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