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

15 Mar 13

Cantor Opening Call

  • The FTSE is seen opening up around 10 points higher today

 

UK Corporate Announcements

  • Rentokil Initial announces Q4 revenues of £663.2m and an adjusted operating profit of £74.1m and sees full year revenues of £2.55bn up 2.8%
  • Bwin.Party reports pro forma revenues fell 2% to €801.6m and sees full year revenues for the full year slightly lower than the estimates but stays confident on the full year results
  • JD Wetherspoon announces H1 sales of £624m and a pre-tax profit of £34.8m from £34.9m and aims for a reasonable outcome in the current year
 

UK Market News

  • Reports suggest that Tim Whyte the head of hedge fund Lodestone was amongst those arrested last month on suspicion of insider trading
  • Mervyn King states that he does not expect sterling to fall further and that markets judged that the currency was at an appropriate level, and states that he sees the economic recovery in sight
  • While the director general of the BCC has stated that UK growth was being hampered by amateur politicians
  • The FT suggests that the UK is close to signing a tax deal with Guernsey
  • Insurers will be eyed as MPs are due to examine the impact that whiplash injuries are having on the cost of car insurance
  • The UK High Court is expected to rule later today on legal challenges that the government failed to follow proper procedures before approving the HS2 rail scheme
  • HMRC is to close all of its 281 enquiry centres which offered face to face help to 2.3m with enquiries last year
  • US regulators are reportedly looking at London’s gold and silver markets in what potentially could be a repeat of the Libor scandal
  • The UK sells £4bn in bills at 11:10
  • EasyJet and London Stock Echange move into the FTSE 100 on the close tonight, at the expense of Intu Properties and Kazazkhmys
  • Trading activity may be more than normal in today’s session on triple witching day
 

UK Analyst Changes

  • African Consolidated Rated New Buy At Panmure, Pt 12.7P
  • Aggreko Raised To Buy Vs Hold At Deutsche Bank
  • Aggreko Raised To Buy Vs Hold At Deutsche Bank
  • Betfair Cut To Neutral Vs Buy At Nomura
  • Compass Added To Ubs’S Most Preferred List
  • G4S Cut To Underperform Vs Neutral At Bofaml
  • Home Retail Group Raised To Neutral Vs Reduce At Nomura
  • Iag Raised To Overweight Vs Equalweight At Morgan Stanley
  • Imperial Tobacco Cut From Ubs’S Most Preferred List
  • Provident Financial Cut To Sector Perform Vs Outperform At Rbc
  • Rbs Cut To Equalweight Vs Overweight At Barclays
  • Royal Dutch Shell Cut To Underweight Vs Neutral At Jpmorgan
  • Travis Perkins Rated New Outperform At Rbc, Pt 1,550P
 

UK Insider Buying

  • Cvs Group Plc, (CVSG), 1 insider(s) bought 3000 shares, £1.89
  • Hyder Consulting Plc, (HYC), 1 insider(s) bought 6023 shares, £4.8
  • Intu Properties Plc, (INTU), 1 insider(s) bought 90000 shares, £3.31
  • Liontrust Asset Manage, (LIO), 1 insider(s) bought 8325 shares, £1.73
  • Purecircle Ltd, (PURE), 1 insider(s) bought 40000 shares, £2.55
  • Volex Plc, (VLX), 1 insider(s) bought 32286 shares, £0.97
 

UK Insider Selling

  • Croda International Plc, (CRDA),  insider(s) sold 400 shares, £26.84
  • Hyder Consulting Plc, (HYC), 1 insider(s) sold 6023 shares, £4.7
 

FTSE 100 Movers
 
 

Major European Companies Reporting

  • Banco Popolare SC, R, -0.147,  Bwin.Party Digital Entertainment PLC, R, 0.14,  Dufry AG, R, 8.519,  Lindt & Spruengli AG, R, 1242.98,  Rentokil Initial PLC, R, 0.076,  Terna Rete Elettrica Nazionale SpA, R, 0.225,  UniCredit SpA, R, 0.191
 

European Market Summary

  • EU Finance Ministers meet in Brussels as they detail the ongoing Cyprus rescue talks
  • Vivendi has suspended the planned sale of its Brazilian phone and Internet unit GVT after failing to get a satisfactory bid
  • Italy sells bills at 11:00
 

Major US Stock Movers After Hours

  • The Fed has stated that Goldman Sachs and JP Morgan ‘exhibited weaknesses’ in their capital planning that were significant enough to require immediate attention, JP Morgan fell 2% on the news
 

US Market News

  • The business press details on how JP Morgan has been accused by a Senate panel of lying over its $6bn loss
  • The Fed has stated that Goldman Sachs and JP Morgan ‘exhibited weaknesses’ in their capital planning that were significant enough to require immediate attention
  • Microsoft will be in the news after reports that sales of its Surface tablet have been under the expectations, and Samsung today unveils its Galaxy S4 with eye-tracking functionality
  • AT&T is reportedly looking to sell Cell towers, amongst other assets, as it looks to raise its cash
 

Overnight Market News

  • Japan’s upper house has confirmed Kuroda as its new central bank governor
  • Real estate and related industries continue to be worth around 20% of China’s GDP and the major focus of the incoming leadership will be on deflating the city home prices without affecting wider economic growth
 

Economic Data Due

  • 10:00 Eurozone February CPI, 0.4% exp. -1.0% previous
  • 12:30 US March Empire Manufacturing, 8.0 exp. 10.04 previous
  • 13:15 US February Industrial Production, 0.3% exp. -0.1% previous
  • 13:15 US February Capacity Utilisation, 79.3% exp. 79.1% previous
  • 13:55 US Uni. of Michigan Confidence, 78.0 exp. 77.6 previous
 

Economic Events

  • S&P Index Quarterly Review Becomes Effective
 

US Industrial Production
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