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

10 Dec 2012
Cantor Opening Call
  • The FTSE is seen starting the week up around 10 points higher
 
 
 
UK Corporate Announcements
  • AG Barr announces 18 week revenues of gained 9% and that margins have performed in line with the expectations
  • Greggs announces that its CEO is to resign, to take up a position at Brakes Group
  • UK Coal announces a boardroom reshuffle, with its Finance Director to leave and details it will be renamed Coalfield Resources
 
UK Market News
  • The Bank of England and the US FDIC have outlined a shared cross border plan for dealing with institutions deemed too big to fail
  • KPMG details that an index of UK full time hiring has moved up to a 19 month high, in a sign of market cautious optimism
  • The Sunday Press suggested that Diageo has held talks with Japanese based brewer Suntory about a possible joint $10bn joint acquisition of bourbon whiskey maker Beam
  • AIM listed Bango announces that its ‘frictionless operator billing’ service is now live on Google Play, as Telstra in Australia switches on the payments service
  • As Tesco looks to move out of the US its CEO met with the Tata family over the weekend ahead of an expected move into India
  • The Sunday papers suggests that Richard Branson could finalise a deal to sell his 51% stake in Virgin Airlines as early as this week to Air France KLM
  • Barclays has opened a new gold vault within 20m of the centre of London in response to the continued record demand for physical assets
 
FTSE 100 Movers
 
 
UK Analyst Upgrades
  • Enterprise Inns Pt Raised To 140P Vs 75P At Morgan Stanley
  • Enterprise Inns Raised From Equalweight At Morgan Stanley
 
UK Analyst Cuts
  • TUI Travel Cut to ‘Hold’ at Jefferies
  • WS Atkins Cut to ‘Hold’ at Jefferies
 
UK Insider Buying
  • Cape Plc, (CIU), 1 insider(s) bought 24906 shares, £2.01
  • Rolls-Royce Holdings Plc, (RR/), 5 insider(s) bought 1020 shares, £8.86
 
UK Insider Selling
  • Brewin Dolphin Holdings, (BRW), 1 insider(s) sold 90815 shares, £1.9
  • Mears Group Plc, (MER),  insider(s) sold 30000 shares, £3.29
  • Pennon Group Plc, (PNN),  insider(s) sold 27486 shares, £6.15
  • Rathbone Brothers Plc, (RAT), 1 insider(s) sold 700 shares, £12.11
  • Topps Tiles Plc, (TPT), 1 insider(s) sold 40000 shares, £0.5
  • Xstrata Plc, (XTA), 1 insider(s) sold 5000 shares, £10.34
 
European Market Summary
  • Mario Monti states that he intends to resign, heightening concerns that yet another change in the Italian leadership could jeopardise the much needed ongoing structural reforms, and as Berlusconi states that he will run for premier
  • STMicro announces that it will exit St-Ericsson by Q3 2013 and details its new strategic plan
  • France sells up to €6bn in bills at 15:00

US Market News
  • Ingersoll Rand is reportedly looking to spin off some of its assets, lift its dividend and buy back as much as $2bn of its shares
  • Barron’s flags up Apple, Barnes & Noble, General Dynamics and JP Morgan Chase amongst its top picks for 2013
  • Barron’s suggests that Penn National Gaming’s share price may already reflect the tax relief after its REIT conversion and that it will need to further diversify its revenues structure to gain further
  • The paper also highlights analysts which see Crosstex Energy gaining as much as 25% next year as its oil and gas project spending continues to boost cash flow
 
Overnight Market News
  • The new Chinese regime states that the country needs to reduce its reliance on exports and investment spending
  • A Chinese based group has agreed to buy 80% of AIG’s plane leasing unit for $4.23bn
  • Japan holds its general election on December 16th with polls still suggesting the opposition party will gain control, and as local data has the Japanese economy slipping back into recession as GDP to end September fell an annualised 3.5%
 
Major Global IPOs Due Today
  • Premier African Minerals Ltd, (0624617D), 335.568m, GBp 2
  • Theradiag SA, (ALTER), 1.2264m, EUR 4.8 – 5.8
 
FX Summary
  • Yen weakness continues as speculation continues of BOJ easing ahead
 
Economic Data Due
  • 09:30 Eurozone December Sentix Investor Confidence, -18.8 previous
 
Economic Events
  • Euro-Area Finance Ministers Meet in Brussels
  • Mervyn King Speaks in New York
 
Eurozone Sentix Investor Confidence
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