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

3 mins. to read
12 March 2013
Cantor Opening Call
  • The FTSE is seen opening around unchanged on the open today
Cantor Capital Graphs
UK Corporate Announcements
  • Antofagasta announces full year net sales of $6.74bn from $6.08bn, with net profit down 17%, citing costs and impairment charges, but lifts its dividend payment
  • Inchcape reports a full year pre-tax profit of £251.5m just ahead of the estimates of £248m on revenues of £6.1bn largely in line, and sees exciting growth prospects in emerging markets and states it sees a gradual recovery in the UK car industry in 2013
  • IG Group reports Q3 revenues gained 18% to £88.6m stronger than its guidance, and that operating costs had been ‘held in check’ and states that it is well positioned for growth
  • Imagination Technologies states that royalty revenues are strong and in line with the expectations
  • SDL states that the pipeline is strong and was giving confidence for 2013 as it details a full year pre-tax profit of £27.4m down 19% with revenues up 185 to £269.3m
  • Computacenter announces a full year pre-tax profit of £71.3m on revenues of £2.91bn just under the estimates of £2.95bn and plans to return up to £75m
  • Fresnillo states that it is to continue to focus on costs as it announces 2012 revenues of $2.16bn and an attributable profit of $736.09m
UK Market News
  • Reuters suggests that RBS is looking at the possible listing of its business lending unit
  • The RICS survey has house prices down again in February, while the FT suggests that a group of private equity companies are interested in Commerzbank’s UK property
  • Lloyds Banking Group is to sell its 20% stake in St James Place
  • HP states that UK SFO is looking into Autonomy
UK Analyst Changes
  • Cobham Pt Raised To 195P Vs 175P At Morgan Stanley
  • Icap Cut To Sell Vs Neutral At Ubs
  • Tullett Prebon Cut To Sell Vs Neutral At Ubs
UK Insider Buying
  • West African Minerals C, (WAFM), 1 insider(s) bought 500000 shares, £0.54
  • Energy Technique Plc, (ETQ), 1 insider(s) bought 50000 shares, £0.47
  • Goldplat Plc, (GDP), 1 insider(s) bought 145084 shares, £0.1
  • Acal Plc, (ACL), 1 insider(s) bought 4000 shares, £2.4
UK Insider Selling
  • Hargreaves Lansdown Pl, (HL/), 1 insider(s) sold 333333 shares, £8.81
FTSE 100 Movers
FTSE 100 Movers Graphic
Major European Companies Reporting
  • Aryzta AG, S1, 1.51,  Enel Green Power SpA, R, 0.089,  Exor SpA, R, 2.875,  GEA Group AG, R, 1.665,  Helvetia Holding AG, R, 38.614,  Pirelli & C. SpA, R, 0.847
European Market Summary
  • Greece remains locked in talks with international creditors about reducing the government workforce by enough to keep bailout funds flowing
  • Italy’s central bank has asked some of its larger banks to increase their bad loans provisions by around €21bn
  • Germany sells €1bn in bonds at 11:30 and Italy sells €7.75bn in 365 day bills, and Spain sells bills at 10:30
Major US Stock Movers After Hours
  • IRobot gained 9% after hours as it lifts its Q1 forecasts and details that its CFO has quit
  • Verifone announces that its CEO has quit, as it misses Q2 estimates, and the stock gained 6% on the news
  • Yum Brands detailed that Q1 comparable sales fell in China fell 20%, less than the forecasts of 24.7%, and it gained 6% on the news
  • Lakeland Industries was the major faller off 23% as it is in talks with lenders on a potential default
S&P 500 Companies Reporting
  • Urban Outfitters, Q4, 0.573
US Market News
  • Apple is now expected to detail what it plans to do with its cash hoard of $137bn by next month, with analysts stating that with a straight forward buy back there would seem to be a natural floor on the share price
  • John Paulson is reportedly looking at a possible move to Puerto Rico where a new law would remove taxes on gains from the $9.5bn he invested in his own hedge funds
  • BlueCrest Capital Management the $35bn hedge fund started by Michael Platt states the it is planning a return to stocks and is to start hiring stock traders
  • Mexico is seen overhauling its telecom industry by introducing new proposals to limit the control of Carlos Slim and Televisa
Overnight Market News
  • Sources suggest that John Phizackerley has left Nomura Holdings as CEO of Europe, Africa and the Middle East
  • Chinese authorities continue to check water quality levels in Shanghai after 3000 pig carcasses were found in the river
Economic Data Due
  • 07:00 Germany January Trade Balance, £15.1bn exp. £12.0bn previous
Economic Events
  • EU Foreign Ministers meet in Brussels
German Trade Balance

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