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

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Wed, January 16, 2013

Cantor Opening Call
  • The FTSE is seen opening up around 10 points higher today
Cantor Capital Graphs
UK Corporate Announcements
  • Experian states that it has been pleased with its progress and confirms its full year targets of high single digit organic revenue growth
  • Thorntons reports total 14 week sales gained by £4.5m to £88m and states it was pleased with its progress
  • Barratt Developments rep[orts average selling prices gained 2.1% to £185k and H1 pre-tax profit more than doubled to £45m
  • N Brown states that it stays confident on its full year targets as 19 week LFL sales gain 7.9%
  • JD Wetherspoon announces 11 week total sales gained 11.3% and states that margins have been hurt by tax, labour and marketing costs
  • Diploma reports Q1 revenues gained 14% and has free cash flow of £3m
  • Arbuthnot states that it sees pre-tax profit in line with the expectations
  • Fenner states that overall trading has been in line and sees its performance weighted to H2
UK Market News
  • Britvic announces that the OFT has advised that the revised target decision date on its moves with AG Barr is February 13th
  • The FT writes on how Goldman has decided to make a U-Turn on its plan to delay bonus payments, as the political climate remains focused on those working round tax laws, rather than on actually resolving tax laws
  • Retailers are in the news after horse DNA has been found in beef burgers in several supermarkets, with Tesco withdrawing some beef products, all of those from the supplier in question
  • Ken Clarke states that a referendum on the UK’s future in the EU would be a gamble
  • Tim Berners Lee the inventor of the World Wide Web has stated that the recent suicide of Aaron Swartz was a ‘travesty of justice’, Swartz was facing 30 years in prison after he downloaded 4m documents from a fee based service for scientific and literary journals through an MIT connection, as he challenged the idea that access to academic documents should be charged
  • FTSE 100 Dividends:- Imperial Tobacco, IMT, (73.9)
  • FTSE 250 Dividends:- Ashtead Group PLC, AHT, (1.50),  F&C Commercial Property Trust Ltd, FCPT, (0.5 gross),  NB Global Floating Rate Income Fund Ltd, NBLS, (1.16),  QinetiQ Group PLC, QQ/, (1.10)
  • FTSE Small Share:– Aberdeen Asian Income Fund Ltd, AAIF, (2.50),  Consort Medical PLC, CSRT, (7),  Dunedin Smaller Companies Investment Trust PLC, DNDL, (3),  Middlefield Canadian Income PCC, MCT, (1.25)
UK Analyst Upgrades
  • Burberry Pt Raised 14% To 1,600P At Berenberg; Confirms Buy
  • Capital Shopping Raised To Neutral Vs Underweight At Jpmorgan
UK Analyst Cuts
  • Amlin Cut to Sector Perform from Outperform at RBC Capital
  • Arm Holdings Cut To Neutral From Buy At Ubs
  • Brammer Cut to Hold from Buy at Jefferies; PT Raised to 340p
  • Keller Cut To Add From Buy At Numis; Pt Raised To 825P Vs 691P
  • Taylor Wimpey Cut To Neutral From Buy At Citigroup
FTSE 100 Movers
FTSE 100 Movers Graphic
Major European Companies Reporting
  • CHR Hansen, Q1, 0.232
European Market Summary
  • The EU’s Juncker states that the euro exchange rate is dangerously high
  • Europe December car sales fell 16%, the largest drop for two years
  • Spain’s PM states that the country will start to see a recovery in H2 2013
  • Despite the market recovery European dividends remains at four year lows as business hoard cash
  • Siemens is being sued by a former compliance officer who is alleging he was fired for exposing alleged bribes and kickbacks paid to and from hospitals in China
  • Germany sells €5bn in 10 year notes at 11:30 and at 14:00 Portugal sells bills
Major US Stock Movers After Hours
  • Christopher & Banks gained 8% after hours as it announced it was lifting its Q4 forecasts
S&P 500 Companies Reporting
  • Bank of New York Mellon Corp/The, Q4, 0.539,  Charles Schwab Corp/The, Q4, 0.149,  Comerica Inc, Q4, 0.65,  eBay Inc, Q4, 0.694,  Goldman Sachs Group Inc/The, Q4, 3.576,  JPMorgan Chase & Co, Q4, 1.208,  M&T Bank Corp, Q4, 2.183,  Northern Trust Corp, Q4, 0.746,  SLM Corp, Q4, 0.533,  US Bancorp, Q4, 0.741
US Market News
  • CNBC suggests that on a any deal to take Dell private it would be done at around $14/share, the stock gained 7% yesterday on the news to close at $13.17
  • Against wider technology selling yesterday with the likes of HP, Research in Motion and Apple all down between 2.5-3% yesterday
  • Morgan Stanley is reportedly set to defer as much as 100% of bonuses for senior bankers over three years, on bonuses above $50,000, as it follows the sector trend of moving to a longer term incentive structure
  • Boeing is in the news as Nippon Airways grounds all of its Dreamliner’s, after a 787 made an emergency landing in Japan after a battery fault warning and smell of smoke in the cockpit, a week after a 787 caught fire in Boston, nd Japan Airlines also details it was halting all 787 flights
  • Wal-Mart may yet see another rush on assault weapons as President Obama is expected to announce plans to ban the weapons for retail use
  • Venezuela has had its ratings cut to negative from stable by Moody’s
Overnight Market News
  • China responds to queries and defends its export data, stating every dollar was accounted for and all data is based on actual custom declarations
  • Speculation increases that Alibaba, China’s largest e-commerce company, is preparing an IPO increases as its founder announces he is going to step down as CEO
Economic Data Due
  • 05:00 Japan December Consumer Confidence, 39.4 previous
  • 10:00 Eurozone December CPI, 0.3% exp. -0.2% previous
  • 13:30 US December CPI, 0.0% exp. -0.3% previous
  • 14:15 US December Industrial Production, 0.2% exp. 1.1% previous
  • 14:15 US December Capacity Utilisation, 78.5% exp. 78.4% previous
  • 19:00 US Federal Reserve Releases Beige Book
Economic Events
  • EU tentative date for Greece Review
US Industrial Production

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