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

23 Nov 2012
Cantor Opening Call
  • The FTSE is called to open around unchanged today
 
 
 
UK Corporate Announcements
  • Fuller Smith & Turner announces an H1 EBITDA of £26.9m up 8% and increases its dividend 6% to 5.35p
 
UK Market News
  • The Times writes that Davies the former chairman of Standard Chartered could return through the 300+ branch unit being sold by RBS
  • Severn Trent announces that it has written to the regulator Ofwat regarding proposed changes, to modify its license
  • Glencore has won conditional EU approval for its $32bn deal with Xstrata
  • Russia has lifted its 16 year ban on British Beef put in place after the BSE outbreak
  • The BBC details how still over one million young people in the UK are NEET, (not in education, employment or training) although the actual numbers has dipped slightly in the past three months
  • The UK sells £2.5bn in bills at 11:00
 
FTSE 100 Movers
 
 
UK Analyst Upgrades
  • Sabmiller Pt Raised To 3,100P Vs 2,950P At Credit Suisse
  • Sabmiller Raised To Neutral Vs Reduce At Nomura
 
UK Analyst Cuts
  • None Detailed
 
UK Insider Buying
  • Ariana Resources Plc, (AAU), 1 insider(s) bought 640000 shares, £0.01
  • Astrazeneca Plc, (AZN), 1 insider(s) bought 400 shares, £28.56
  • Castings Plc, (CGS), 1 insider(s) bought 2000 shares, £3
  • Energy Assets Group Pl, (EAS), 1 insider(s) bought 20000 shares, £1.9
  • Purecircle Ltd, (PURE), 1 insider(s) bought 750000 shares, £2.38
  • Sierra Rutile Ltd, (SRX), 1 insider(s) bought 100000 shares, £0.53
 
UK Insider Selling
  • Albemarle & Bond Holdin, (ABM),  insider(s) sold 15000 shares, £2.2
  • Computacenter Plc, (CCC), 1 insider(s) sold 6000 shares, £3.85
  • Diageo Plc, (DGE),  insider(s) sold 20000 shares, £18.5
  • Travis Perkins Plc, (TPK), 2 insider(s) sold 80000 shares, £11.2
 
Global Footprint
 
 
Major European Companies Reporting
  • None Detailed
 
European Market Summary
  • Merkel has stated that a new accord on the seven year EU budget would not be finalised until the New Year, as France defends farm subsidies and UK refuses to give up its rebate and Denmark asks for a rebate of its own
  • The FT details that UBS is expected to face a fine of around £50m over how it mis-managed Adoboli, and allowed a culture where the $2.3bn in losses could occur
  • Alcatel-Lucent is reportedly in financing talks with Goldman’s about a new loan to strengthen its balance sheet
  • German business confidence data is out this morning and is expected to have fallen down towards three year lows
  • General Electric is reportedly in talks to buy Italian based defence group Avio from Cinven for around €3bn, Cinven had previously planned an IPO of the unit but shelved the moves citing market volatility
 
Major US Stock Movers After Hours
  • US markets were closed yesterday
 
S&P 500 Companies Reporting
  • None Detailed
 
US Market News
  • The US equity markets are only open for a half day session today, with many naturally using yesterday’s Thanksgiving Day holiday to take a long weekend
  • Argentina has made some angry statements after a US court ruling which ruled in favour of a US hedge fund were Argentina to go ahead with next month’s scheduled payments of $3bn on its restructured bonds, after a 10 year legal battle. Argentina called the move ‘judicial colonialism’ and that it would fight the ruling up to The Supreme Court
 
Overnight Market News
  • Olam stays in the news as it states that its auditor stands by its opinion and as it details that it has enough liquidity to withstand the current ‘stress’
  • China’s Vice President states that three decades of economic developments must be accelerated
  • Bloomberg highlights how Samsung gained to a fresh high yesterday, buoyed by those switching out of Sony Corp, and Panasonic, after they were both cut to junk status by Fitch
  • The disputed South China Seas islands stay in the news as China includes the islands on maps printed inside new Chinese passports, Vietnam has protested the printing of the images, China did not include the islands in the East China Sea that are claimed by both China and Japan
 
Major Global IPOs Due Today
  • PCIFI Holdings Group Co Ltd, (884), 1255m, HKD 1.33 – 1.65
  • Krakatoa Resources Ltd, (KTA), 15m, AUD 0.2
  • Mandalong Resources Ltd, (MDD), 10m, AUD 0.2
  • TS Flour Mill PCL, (TMILL), 85m, THB 3.1
  • Xu Yuan Packaging Technology Co Ltd, (8421), 4.237m, TWD 21 – 23
 
FX Summary
  • South Africa has maintained its benchmark rate unchanged at 5.0%
  • The Brazilian real stays soft, and posts fresh three year lows as its Finance Minister states that the recent moves were on a ‘normal trajectory’ keeping expectations high that the central bank will continue its policy of allowing the currency to weaken
 
Economic Data Due
  • 07:00 Germany Q3 GDP q/q, 0.2% exp. 0.2% previous
  • 09:30 UK October BBA Loans, 32,500 exp. 31,175 previous
UK October BBA Loans
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