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

4 mins. to read

For more interesting research & professional Technical Analysis from Cantor Index click here to register for free.

16 Nov 2012

UK Corporate Announcements

Serco states that its outlook is unchanged from that given with its results in August and that its sees the full year 2012 in line

Rotork details Q3 revenues gained 9.9% from last year and details that it expects higher margins in H2 from H1

IMI announces that trading in H2 has been in line

Aegis details total revenues for the first nine months gained 16.3% and Q3 revenues were up 14.5%

Melrose states that trading has been in line for 2012 but that sales for 2013 have become more uncertain and revenue trends have slowed

Lavendon announces that its trading has been in line with the forecasts

Bodycote announces that full year earnings expectations are unchanged

Brammer states that trading in the period has been in line with the forecasts

Ultra Electronics states that it stays confident on its strategies for growth

LSE states that market conditions remain challenging in some areas, as H1 revenues gained 7% to £349m

Headlam stays confident of hitting its performance target for 2012 and sees no significant change in its financial position since H1

UK Market News

BP has now agreed to a $4.5bn settlement with the US authorities, the largest criminal penalty in US legal history

The OFT states that it is to look into Tesco’s Clubcard and Sainbury’s Nectar loyalty card as it explores personalised pricing

Balfour Beatty is named by a couple of the UK papers today as being the centre of some M&A talk

Megafon the second largest mobile phone operator in Russia announced yesterday it is planned to list 15% through Global Depository Receipts which will be traded both in Moscow and in London, and raise as much as $2.1bn

The SFO has been ordered to pay the legal costs of the Tchenguiz brothers after their successful defence from the challenges made by the SFO last year

Lord McAlpine has reportedly accepted a £185,000 settlement from the BBC after he was publicly linked to the ongoing child abuse scandal

The UK sells £2.5bn in bills at 10:00

UK Analyst Upgrades

Diageo Pt Raised To 2,050P Vs 1,900P At Socgen, Stays Buy

Genus Added To Conviction Buy List At Goldman

Next Added To Credit Suisse’S Focus List

Next Rated New Outperform At Credit Suisse, Pt 4,200P

Paragon Pt Raised To 280P Vs 230P At Berenberg, Stays Buy

Premier Oil Pt Cut To 500P Vs 525P At Socgen, Stays Buy

Premier Oil Raised To Hold From Sell At Liberum

Wolfson Microelectronics Pt Raised To 230P Vs 200P At Liberum

UK Analyst Cuts

Pennon Cut To Underperform Vs Neutral At Bofaml

Pennon Group Cut to Equalweight from Overweight at Barclays

UK Insider Buying

Chemring Group Plc, (CHG), 2 insider(s) bought 100000 shares, £2.24

Cls Holdings Plc, (CLI), 2 insider(s) bought 14459 shares, £6.66

Computacenter Plc, (CCC), 1 insider(s) bought 30000 shares, £3.53

Dialight Plc, (DIA), 1 insider(s) bought 2350 shares, £10.55

Fidessa Group Plc, (FDSA), 2 insider(s) bought 12941 shares, £12.74

Low & Bonar Plc, (LWB), 1 insider(s) bought 27969 shares, £0.32

Macfarlane Group Plc, (MACF), 1 insider(s) bought 100000 shares, £0.25

Tate & Lyle Plc, (TATE), 1 insider(s) bought 2000 shares, £7.59

UK Insider Selling

Galliford Try Plc, (GFRD), 1 insider(s) sold 300000 shares, £7.24

M Winkworth Plc, (WINK),  insider(s) sold 112500 shares, £0.86

Major European Companies Reporting

Henkel AG & Co KGaA, Q3, 0.994,  London Stock Exchange Group PLC, S1, 0.402

European Market Summary

Merkel meets with Putin in Moscow today

STMicroelectronics responds to talk and states that there is no plan to compromise the unit of the company, after reports it may be looking to split the business

Major US Stock Movers After Hours

Schiff gained 29% after hours as Reckitt Benkiser announces a $42/share move ahead of the offer from Bayer, in a deal worth around $1.4bn

Penn National gained 5% as it detailed that it is to pursue a split into two publicly traded companies

Aruba Networks gained 5% as it announces Q1 revenues ahead of the forecasts and also lifts its outlook for Q2

Dell slipped around 2% as its revenue of $13.72bn came in just under the forecasts citing a slowdown in the PC market

S&P 500 Companies Reporting

JM Smucker Co/The, Q2, 1.444

US Market News

Nike announces that it is planning a 2 for 1 share split and increases its dividend 17%

Hertz has been given anti-trust clearance for its planned $2.6bn purchase of Dollar Thrifty

Starbucks details that it has added a further 25m to its share buyback program, representing around $1.2bn

Wal-Mart came off 3% yesterday as its Q3 numbers missed the expectations

Economists expect industrial production in the US to have cooled in October, hampered by Sandy

Overnight Market News

Singapore announces that it sees 1.5% growth in 2012, at the lower end of the forecasts range, as Q3 GDP falls to 5.9%

China’s CSI Index has fallen to its lowest level since 2009 on some local concerns that the new leadership will not accelerate economic reforms

Kirin Holdings, the largest drinks maker in Japan, announces that it is seeking to acquire Fraser & Neave Ltd’s food and beverages unit, however trading in Kirin fell on the news

FX Summary

The yen has continued the near term weakness and is now down towards 6 month lows, as the market continues to price in a new government next month, which has signalled it would increase pressure to increase monetary easing

Citigroup has detailed that currencies that in the past that have gained from dollar weakness are now themselves weakening, suggesting the market is not convinced that the Federal reserve will fulfil its pledge to continue with its rescue stimulus through to 2015

Comments (0)

Comments are closed.