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

13 Mar 2013

Cantor Opening Call

  • The FTSE is seen opening down around 15 points lower this morning
 

 
 

UK Corporate Announcements

  • Hochschild Mining details full year revenues of $818m and an adjusted EBITDA of $384m with revenues down 17% and that inflation concerns and scarcity supports its outlook
  • G4S announces full year revenues of £7.5bn and an adjusted EPS of 21.2p against expectations of 22p
  • French Connection announces a full year pre-tax loss of £7.2m and that revenues fell 8% to £197.3m and expects to return the business to profitability and maintains its full year outlook
  • 888 holdings announces revenues gained 13% to $376m and an EBITDA of $67m largely in line with the expectations and states that current trading has been in line
  • Thomas Cook states that summer trading was progressing well and that it is on target to deliver EBIT margin above 5% and states that the UK turnaround is on track and sees the full year outlook as encouraging
  • Ferrexpo reports a full year profit after tax of $216m, just under the consensus, and remains on track to increase its production for the full year
  • Hikma Pharma details a full year pre-tax profit of $132m, largely in line with the estimates
 

UK Market News

  • Thomas Cook will also be eyed after reports that it is working on a £400m capital raising
  • The Horsemeat story continues as UK papers suggests that Tesco has pulled a meatloaf line after concerns on its contents
  • RBS is reportedly set to sell 15.3% of Direct Line in a placing to investors
  • The SFO confirms that it may be using an Autonomy product increasing concerns of its impartiality on any investigations into it and HP
  • The Telegraph suggests that Asda is considering a move to rescue HMV
  • The UK NIESR has inflation expectations up to 3.3%, highs not seen since 2008
  • Food producer Symington states that it is transplanting its noodle-making from Guangzhou to Leeds, stating it can produce at roughly the same cost in Yorkshire as it can out of China
  • The UK sells £1.5bn in bonds
  • FTSE 100 Dividends: British American Tobacco PLC, BATS, (92.70),  Land Securities Group PLC, LAND, (7.4g),  Meggitt PLC, MGGT, (8.20),  Hargreaves Lansdown PLC, HL/, (6.30),  Standard Chartered PLC, STAN, (.5677),  Serco Group PLC, SRP, (7.45)
  • FTSE 100 Estimated Dividend Impact: 10.7 points
  • FTSE 250 Dividends: Ashmore Group PLC, ASHM, (4.35),  AZ Electronic Materials SA, AZEM, ($0.091),  British Assets Trust PLC, BSET, (1.442),  Dechra Pharmaceuticals PLC, DPH, (4.34),  Domino’s Pizza Group PLC, DOM, (7.90),  F&C Commercial Property Trust Ltd, FCPT, (0.50),  Fidelity European Values PLC, FEV, (27.75),  Genus PLC, GNS, (5),  Perpetual Income and Growth Investment Trust PLC, PLI, (2.55),  Telecity Group PLC, TCY, (5),  Temple Bar Investment Trust PLC, TMPL, (22),  William Hill PLC, WMH, (7.80)
  • FTSE Small Share: British Polythene Industries PLC, BPI, (9),  JPMorgan Global Emerging Markets Income Trust Plc, JEMI, (.90),  Northgate PLC, GB0003775664, (.0125),  Safestore Holdings PLC, SAFE, (3.80),  Standard Life UK Smaller Co Trust, SLS, (1.15),  Wilmington Group PLC, WIL, (3.50),  XP Power Ltd, XPP, (17g)
 

UK Analyst Changes

  • Antofagasta Raised To Neutral Vs Sell At Ubs
  • Berendsen Raised To Buy Vs Neutral At Goldman
  • Capita Cut To Neutral Vs Buy At Ubs
  • Centamin Raised To Buy Vs Neutral At Westhouse
  • Essar Energy Raised To Buy Vs Neutral At Nomura
  • Inchcape Pt Raised To 600P Vs 550P At Exane, Keeps Outperform
  • Redrow Raised To Neutral Vs Underweight At Jpmorgan
  • Standard Chartered Cut To Sell Vs Hold At Berenberg
 

UK Insider Buying

  • Acal Plc, (ACL), 1 insider(s) bought 4000 shares, £2.4
  • Diageo Plc, (DGE), 1 insider(s) bought 415 shares, £19.96
  • Energy Technique Plc, (ETQ), 1 insider(s) bought 50000 shares, £0.47
  • Fusionex International, (FXI), 1 insider(s) bought 6161 shares, £2.42
  • Laird Plc, (LRD), 1 insider(s) bought 10000 shares, £2.35
  • Sig Plc, (SHI), 1 insider(s) bought 110000 shares, £1.5
  • Soco International Plc, (SIA), 1 insider(s) bought 50000 shares, £3.84
  • Westside Investments Pl, (WST), 5 insider(s) bought 710000 shares, £0.18
 

UK Insider Selling

  • 4Imprint Group Plc, (FOUR), 1 insider(s) sold 3200 shares, £4.48
  • Balfour Beatty Plc, (BBY), 1 insider(s) sold 25000 shares, £2.79
  • Consort Medical Plc, (CSRT), 1 insider(s) sold 2800 shares, £7.48
  • Fidessa Group Plc, (FDSA), 1 insider(s) sold 1048 shares, £19.56
  • Genus Plc, (GNS), 1 insider(s) sold 4727 shares, £15.2
  • Hargreaves Lansdown Pl, (HL/),  insider(s) sold 25000 shares, £8.84
  • Hsbc Holdings Plc, (HSBA),  insider(s) sold 35356 shares, £7.32
  • Novae Group Plc, (NVA), 2 insider(s) sold 80026 shares, £4.67
  • Zotefoams Plc, (ZTF), 2 insider(s) sold 8985 shares, £1.99
 

FTSE 100 Movers
 

Major European Companies Reporting

  • Adecco SA, R, 2.76,  Banca Popolare dell’Emilia Romagna Scrl, R, 0.14,  BioMerieux, R, 4.309,  E.ON SE, R, 2.211,  Enel SpA, R, 0.367,  G4S PLC, R, 0.222,  Galenica AG, R, 37.106,  Hikma Pharmaceuticals PLC, R, 0.504,  Inditex SA, R, 3.835,  Kaba Holding AG, S1, 0,  Prudential PLC, R, 0.683,  Tod’s SpA, R, 4.819
 

European Market Summary

  • Bloomberg suggests that STMicroelectronics and Ericsson have failed to find a buyer for the wireless chip business after a three month search
  • According to a new survey Germany has moved ahead of UK as the most sought after destination for European property investors, as fears of Eurozone break-up ease
  • Germany is seen easing the requirements on Cyprus
  • Ireland is preparing for its first sale of 10 year bonds since 2010
  • Italy sells up to €5.5bn bonds at 11:00, Germany sells €5bn in notes
 

Major US Stock Movers After Hours

  • Genmark gained 4% after hours as it announced a Q4 loss of 15c/share well inside the forecasts
  • Spectrum was the leading faller off over 39% after hours as its revenues fall well short of the forecasts and as it cuts its forecasts
 

US Market News

  • US retail sales are seen gaining in February for the fourth month in a row
  • Silver Spring Networks raised $81m in its IPO mid price of the expected range
  • Bloomberg details that US factory workers have been putting in longer hours in February since WWII
 

Overnight Market News

  • Asian markets had a flat to slightly lower session, pulled down by some profit taking in financials
  • Samsung launches its new Galaxy S4 in Times Square today as it continues to take on the iPhone
  • Cathay Pacific announces annual profits ahead of the expectations citing higher passenger numbers offsetting lower cargo
 

Economic Data Due

  • 10:00 Eurozone January Induatrial production, 0.2% exp. 0.7% previous
  • 12:30 US February Advance Retail Sales, 0.5% exp. 0.1% previous
 

Advance Retail Sales
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