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MARKET NEWS ROUND UP, UPGRADES & DOWNGRADES COURTESY OF CANTOR INDEX

25 Jan 2013
Cantor Opening Call
  • The FTSE is called down around 10 points this morning
 
 
 
UK Corporate Announcements
  • Charles Stanley announces discretionary managed funds gained 7.1% to £5.7bn with revenues up 13.5% in Q3 to £31.1m
  • Anglo American announces Q4 output levels and so far declines to comment on the recent comments made from the ANC that local businesses were unpatriotic
 
UK Market News
  • The OFT states today that following a review of the UK current account market further significant changes are still required, as consumers rarely switch
  • API Group responds to the recent share price moves and states that it has received indicative proposals but that there was no certainty that an offer would be made
  • The focus in the UK today will be the GDP numbers as the economy is expected to have contracted in Q4
  • Barclays is back in the news after senior executive failed in their attempts to keep their names out of the press, with the likes of investment banking chief Rich Ricci and finance director Chris Lucas on a shortlist of names passed to regulators over the Libor investigations
  • The Telegraph suggests that Cameron’s tax plans will stifle any recovery
  • Legal & General suggests that investment banks fees for UK shares sales should be deferred for 3-6 months and be linked to the stocks share price over this period, to deal with concerns over inflated IPO prices
  • The UK sells £2.5bn in bills at 11:10
 
UK Analyst Upgrades
  • Croda Intl Pt Raised 2% To 2,150P At Exane; Kept At Neutral
 
UK Analyst Cuts
  • C&W Communications Cut To Neutral From Overweight At Hsbc
FTSE 100 Movers
 
 
Major European Companies Reporting
  • Getinge AB, R, 10.814,  Wartsila OYJ Abp, R, 1.801
 
European Market Summary
  • The potential bailout of Banca Monte dei Paschi di Siena could be delayed after PM Monti called for an additional review of its accounts as he recalls parliament to deal with the issue
  • German business confidence is expected to have picked up in January, up to 103 from 102.4 and the highest since July
  • Credit Agricole announces it has cut its stake in Bankinter by selling a 5.2% stake, leaving it with a 9.9% stake, and states that it was sold so that it could focus on France, and agrees to a 180 day lock-up on the remainder
 
Major US Stock Movers After Hours
  • Microsoft fell 2% after hours despite announcing Q2 EPS of 76c ahead of the estimates of 74c as its revenues came in under the forecasts
  • Select Comfort was the major faller off over 20% as it announces results under the estimates and also reduces its outlook on full year 2013
 
S&P 500 Companies Reporting
  • Covidien PLC, Q1, 1.057,  Eaton Corp PLC, Q4, 0.946,  Halliburton Co, Q4, 0.605,  Honeywell International Inc, Q4, 1.099,  Hudson City Bancorp Inc, Q4, 0.119,  Kimberly-Clark Corp, Q4, 1.355,  Procter & Gamble Co/The, Q2, 1.108,  Robert Half International Inc, Q4, 0.407,  Weyerhaeuser Co, Q4, 0.184
 
US Market News
  • The CFO of Lenovo has stated that it is looking at possible acquisition targets and confirms that Research in Motion is one of them
  • The S&P 500 itself is in the news as it crossed above the psychologically significant 1,500 level yesterday for the first time since 2007 as it continues its seemingly endless march back to its all time highs, and this was despite Apple, the largest company in the US slumping 12% down to $450, from its highs just a few months ago above $700
  • The US has now moved to within $0.025bn of the $16.394tn debt ceiling
  • Disney announces that it is to hire JJ Abrams to direct Stars Wars 7
  • AT&T states that it is looking ay more international partnerships
  • Boeing’s PR dept is working overtime after details emerge that during lab tests of the Lithium battery in 2006, which is the focus of the recent grounding, the battery exploded and caused a fire that destroyed the whole lab building
  • The president of Goldman Sachs has warned of a possible drop in fixed income price
 
Overnight Market News
  • Data out from the Chinese Ministry and Information the number of Chinese mobile phone users gained to 1.11bn end 2012, as a separate survey suggest that consumable products purchasing in China is expected to gain 15% a year every year through to 2016
  • Samsung came off 2% as it states that the strengthening won could cut its operating profit by $2.8bn this year
  • Reminder Australian Markets Closed on Monday – Australia Day
 
Economic Data Due
  • 09:30 UK GDP, -0.2% exp. 0.9% previous
  • 15:00 US December New Home Sales, 382k exp. 377k previous
 
UK GDP
 
 
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