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

18 Dec 2012
Cantor Opening Call
  • The FTSE is seen up around 25 points higher this morning
 
 
 
UK Corporate Announcements
  • Morgan Sindall states that it is trading in line with the board’s expectations
  • Skyepharma also announces that it is trading in line with the forecasts
  • Unite Group details that it remains well placed for the future
  • Kellar Group announces that its full year guidance is unchanged from November
 
UK Market News
  • The news flow stays light as the markets continue the traditional wind down into the holiday period
  • The Times writes on how the coalition government is continuing to lose some support, while UKIP gains, and Cameron responds to the move by stating that he can imagine a scenario where the UK would leave the EU, but stressed that a withdrawal was not his preference
  • The Competition Commission states that Rank Group may need to sell assets and that the Rank Gala merger may damage competition in 6 areas
  • Glaxo has secured NICE backing for its Revolade treatment after making a discount reversing the 2010 decision that it was too costly
 
FTSE 100 Movers
 
 
UK Analyst Upgrades
  • Borders And Southern Raised To Buy Vs Neutral At Goldman
  • Cairn Energy Raised To Buy Vs Neutral At Ubs
 
UK Analyst Cuts
  • Aggreko PT Cut to 2,100p from 2,500p at RBC Capital
  • Direct Line Group Rated New Sell at Berenberg; PT 174p
  • Falkland Oil Cut To Neutral Vs Buy At Goldman
  • Genel Energy Cut To Neutral Vs Buy At Ubs
  • Global Energy Development Cut To Neutral Vs Buy At Goldman
 
UK Insider Selling
  • Prudential Plc, (PRU), 1 insider(s) sold 93333 shares, £8.8
 
European Market Summary
  • 09:30 this morning Sweden’s Riksbank announces its interest rate decision where rates are expected to be cut 25bp to 1%
  • UBS stays in focus as it is expected to detail its settlement on Libor manipulation allegations this week
  • Greece sells €1bn in 91 day bills at 11:00, and Spain sells 3-6 month bills at 10:30
 
Major US Stock Movers After Hours
  • Diamond Foods came off 1.1% after hours as it announces a Q1 EPS in line, but with sales missing the forecasts
 
S&P 500 Companies Reporting
  • Oracle Corp, Q2, 0.61
 
US Market News
  • President Obama continues to edge towards a deal to avoid the fiscal cliff as he makes a new budget offer that would lift taxes by $1.2tn and cut $1.22tn in federal spending
  • Knight Capital reportedly is close to a decision on the takeover approaches
  • The co founder of Level Global Investors and a former Diamondback Capital management portfolio manager have been found guilty of insider trading, and could face as much as 20 years in jail, with sentencing due in 2013
  • Morgan Stanley has been fined $5m by US regulators as they rule that investment bankers still have undue influence on analysts, citing the Facebook IPO
 
Overnight Market News
  • India’s RBA has kept its key benchmark interest rate unchanged at 8% and states its policy has to increasingly shift towards growth
  • The Japanese regulator has reportedly joined the probe into RBS and allegations of manipulating interest rates
  • Samsung has won its order denying Apple’s request for a US sales ban
 
Economic Data Due
  • 09:30 UK November PPI Output, nsa, 0.2% exp. 0.1% previous
  • 13:30 US Q3 Current Account, -$103.1bn exp. -$117.4bn previous
 
US CPI
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