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

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3 mins. to read
Cantor Opening Call
  • The FTSE is called to open around unchanged to a little higher today
 
Cantor Capital Graphs
 
 
UK Corporate Announcements
  • Whitbread details that total sales gained 14.3% and that the environment remains challenging, but stays on track to meet its full year targets
  • Domino Printing states that it remains optimistic about its prospects as full year pre-tax profit fell 6% to £53.9m
  • Carpetright maintains its full year targets, as it details H1 underlying pre-tax profit of £4.5m from £1.4m
  • IG Group announces H1 total revenues of £169m down 14% and states that short term trading continues to be subdued and H2 revenues will be in line if recent levels persist
  • Ashtead Group reports Q2 revenues of £355m from £306m and a pre-tax profit of £79.3m up from £50.6m and now sees its full year ahead of the earlier expectations
  • Asos states that it remains positive in its outlook, and that it continues to trade in line with the expectations
  • Victrex announces full year revenues of £219.8m up 2% and an EPS of 85.7p
 
UK Market News
  • HSBC details that it is to pay $1.92bn to settle the US money laundering probe and take further action to strengthen its compliance policies
  • Mervyn King stated yesterday that G20 nations need to do more to address global imbalances and warns countries may use exchange rates as a key monetary policy tool
  • Man Group details that Manny Roman will replace Peter Clarke as CEO in February as its largest fund has under-performed in recent months, and as Man Group’s share price has lost 40% in 2012
  • The UK sells £3.25bn in Bonds at 10:30
 
FTSE 100 Movers
FTSE 100 Movers Image
 
 
UK Analyst Upgrades
  • Bhp Billiton Pt Raised To 2,350P Vs 2,000P At Nomura
  • Inchcape Rated New Buy At Ubs, Pt 515P
 
UK Analyst Cuts
  • Anglo American Pt Cut To 1,800P Vs 2,000P At Nomura
  • Antofagasta Cut To Neutral From Buy At Nomura
  • Enrc Cut To Sell Vs Neutral At Citi
  • Kazakhmys Cut To Reduce From Neutral At Nomura
  • Kazakhmys Pt Cut To 700P Vs 800P At Nomura
Major European Companies Reporting
  • ThyssenKrupp, F, -0.84, Inditex, Q3, 1.134
 
European Market Summary
  • Mario Monti responds to the nerves yesterday and states that the markets should not fear the political developments in Italy
  • Iberia staff have now cancelled the planned strikes at the carrier ahead of Christmas
  • Spain sells 12 and 18 month bills at 10:30, and Greece sells €2.125bn in bills at 11:00
 
Major US Stock Movers After Hours
  • Stillwater Mining gained 3% as S&P details it will replace JDA Software in its SmallCap 600 index
 
S&P 500 Companies Reporting
  • Dollar General, Q3, 0.599
 
US Market News
  • President Obama has offered cooperation with all parties, as talks continue to avoid the fiscal cliff
  • Hewlett Packard feels the need to respond to talk and state that it has had no conversations with Carl Icahn, and was not aware of Icahn owning any shares
  • Mike Bloomberg is reportedly taking a look at the FT, which may yet be sold off by Pearson
  • Sales of US American Eagle gold coins have continues to grow in the US, as retail investors on both side of the Atlantic continues to feel reassured by owning physical assets
  • The US sells its last 234m shares in AIG, and makes a $15bn profit on the rescue
  • Google has detailed that it has suffered ‘service disruptions’ to its popular gmail service in a number of continents 
 
Overnight Market News
  • Delta is reportedly moving closer to a deal to buy the 49% stake in Virgin Atlantic from Singapore Airlines and could pay less than $500m, while Richard Branson has offered a £1m bet to BA chairman Willie Walsh that the brand would continue
  • Nintendo traded down over 4% today, despit announcing its new Wii U
 
Major Global IPOs Due Today
  • Enish, (3667), 1.09m, JPY 800
  • Kori Holdings Ltd, (KHLL), 28.2m, SGD 0.25
  • Solarcity Corp, (SCTY), 10.065m, USD 13 – 15
  • UMN Pharma Inc, (4585), 3.42m, JPY 1300
 
Economic Data Due
  • 00:01 UK November RICS House Price Balance, -7% previous
  • 10:00 Eurozone December ZEW Survey, -2.6 previous
  • 13:30 US October Trade Balance, -$42.3bn exp. -$41.5bn previous
  • 15:00 US Wholesale Inventories, 0.4% exp, 1.1% previous
 
Economic Events
  • EU General Affairs Ministers Meet in Brussels
 
US Trade Balance

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