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

08 Jan 2013

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Cantor Opening Call

  • The FTSE is seen opening down around 5 points lower today

 
 
 

UK Corporate Announcements

  • Debenhams states that it has posted its highest ever December sales, with 18 week LFL sales up 2.9% ahead of the forecasts, and that online sales are ahead of the expectations
  • Balfour Beatty details that it is budgeting for tough market conditions and that trading has been in line
  • Domino’s Pizza announces 53 week system sales gained 12.7% and that its full year profit is seen coming in line, and details it opened 69 stores in the full year
  • McBride announces H1 revenues fell 6% and sees its H1 adjusted operating profit around 12% higher
  • Persimmon announces that its CEO is to retire as 2012 revenues gained 12% to £1.72bn, and that average home prices gained 6% in 2012
  • Majestic Wine states that many shoppers have left shopping to the last minute and that 39 week same store sales gained 0.8% and that the Christmas period was challenging
  • Cineworld states that it sees its full year profits in line with the market expectations
  • Dunelm states that it is confident on its longer term prospects but does see difficult sales growth ahead in its H2
  • Parity Group states that it expects to meet the full year expectations
  • UK Mail states that Q3 trading overall has been above the forecasts
  • Interserve is confident of its ability to make progress in 2013
  • Rexam announces a return of cash to shareholders, around £395m in total, 45p/share
 

UK Market News

  • The UK BCC suggests that the UK economy will have a modest recovery in 2013
  • Anglogold Ashanti confirms the recent speculation and details that its chief is to move and become the CEO at Anglo American
  • Balfour Beatty announces that its COO Andrew McNaughton is to move up to CEO from March after its profit warning yesterday
  • The BRC states that the Christmas period for retailers was ‘underwhelming’ and that the outlook for 2013 was not much better
  • Bumi has agreed to Nathanial Rothschild’s request for a shareholder meeting, as he states that the board has failed and that the CEO and chairman are amongst the board members that should be replaced
  • New data shows that the number of people employed in ‘front line’ bank jobs has fallen to 152,000, its lowest level since 2004
  • The UK sells £1.5bn in 2030 bonds at 10:30
 

UK Analyst Upgrades

  • Intermediate Capital Pt Raised To 345P Vs 335P At Socgen
  • Moneysupermarket.com Rated New ‘Hold’ at Jefferies
 

UK Analyst Cuts

  • Asos Cut to ‘Underperform’ at Jefferies
  • Easyjet Cut To Neutral Vs Outperform At Credit Suisse
  • Hannover Re, Legal & General, Rsa Cut To Neutral Vs Buy: Bofaml
  • Morrisons PT Cut to 243p from 250p at Cantor Fitzgerald
  • Stagecoach Group Cut to ‘Hold’ at Jefferies
  • Standard Life Cut To Underperform Vs Neutral At Bofaml
  • Tui Travel Cut To Underweight Vs Equalweight At Morgan Stanley
 

UK Insider Buying

  • Rolls-Royce Holdings Plc, (RR/), 5 insider(s) bought 1002 shares, £9.05
 

UK Insider Selling

  • None Detailed
 

FTSE 100 Movers
 
 

Major European Companies Reporting

  • None Detailed
 

European Market Summary

  • Immsi denies talk that it is looking to sell its Alitalia stake to Air France
  • Greece sells €2bn in Bills at 11:00, the ESM also is due to sell €2bn in 91 days bills at €12:30
 

Major US Stock Movers After Hours

  • Yum Brands! came off 5% after hours as it announced that China sales are seen down 6% in Q4, from previously being down 4%
 

S&P 500 Companies Reporting

  • Alcoa Inc, Q4, 0.066, Monsanto Co, Q1, 0.357,  Apollo Group Inc, Q1, 0.896  
 

US Market News

  • President Obama is reportedly close to choosing White House Chief of staff Jack Lew to replace Geithner and could make the announcement as early as this week
  • The chief economist at Moody’s states that US state and local governments are in their best financial shape since the recession
  • The FT suggests that US banks will pay around $20bn in total to settle us investigations into home loans foreclosures, with Fannie Mae agreeing to pay $10.6bn
  • Sears announces a new CEO as Louis D’Ambrosio steps down citing family health matters
  • Alcoa announcing today heralds the starts if the US reporting season over the coming weeks
 

Overnight Market News

  • Samsung announces Q4 earnings ahead of the expectations and up to a fresh record as sales of its smart phones continued to gain strongly, despite the launch of the iPhone 5
  • Japan details that it will buy ESM bonds from FX reserves but that it has not yet decided on the amount
  • The China Daily writes that China’s A share market could see 200 listings in 2013 and raise $21-24bn
 

Economic Data Due

  • 00:01 UK BRC Sales Like-For-Like y/y, 0.4% previous
  • 10:00 Euro-Zone Consumer Confidence, -26.6 exp. -26.6 previous
 

Economic Events

  • US – Lacker speaks in Columbia
 

Eurozone Consumer Confidence
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