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

05 Feb 2013

Cantor Opening Call

  • The FTSE is seen opening up around 5 points this morning
 

 

UK Corporate Announcements

  • Arm details a Q4 pre-tax profit of £80m, just ahead of the forecasts, on revenues of $262m up 21%
  • St Modwen announces a full year pre-tax profit of £52.8m from £51.7m last year with an NAV of 251p/share up 8%
  • TalkTalk announces Q3 net revenues gained 5.8% to £292m and confirms its full year guidance
  • Qinetiq states that it sees its full year performance in line and that its outlook is unchanged
  • BP announces a Q4 net profit of $1.62bn from $7.69bn , which includes an adverse hit of $4.13bn from the Gulf of Mexico spill, with adjusted earnings of $4bn, just ahead of the $3.7bn forecasted
  • BG reports a Q4 net profit of $1.73bn up from $1.34bn and an adjusted net income of $1.03bn just under the estimates of around $1.06bn seen
  • Barclays confirms that it is increasing its total cumulative provisions for IRHP and PPI provisions to £2.6bn and will include further details in its full year results
  • Low & Bonar announces a full year pre-tax profit of £24.5m up 4.7% and states that the current year has started in line with its forecasts
 

UK Market News

  • The NIESR states that the UK economy runs the risks of a prolonged stagnation
  • Bank of England’s Haldane speaks in London at 16:30
  • FlyBe announces today that it has reached an accord with Ryanair on Aer Lingus routes
  • The FT suggests that Liberty Global is looking to make a move for Virgin Media, and this has been confirmed by Liberty this morning
  • Premier Food’s incoming CEO has made has first executive move, yesterday asking the current COO to leave the company and states that the role will cease to exist
  • The UK sells £1.1bn in bonds at 10:30
 

UK Analyst Changes

  • Bt Pt Raised To 300P Vs 260P At Liberum
  • Buy Centrica, May Return GBP1.8b by 2016, UBS Says
  • Direct Line Raised To Neutral Vs Reduce At Nomura
  • RSA Cut To Reduce Vs Neutral At Nomura
 

UK Insider Buying

  • Brown (N) Group Plc, (BWNG), 1 insider(s) bought 1868 shares, £3.7
 

FTSE 100 Movers
 
 

Major European Companies Reporting

  • Alfa Laval AB, R, 7.505,  ARM Holdings PLC, R, 0.143,  Banco Espirito Santo SA, R, 0.03,  BG Group PLC, R, 1.363,  BP PLC, R, 0.91,  Kesko OYJ, R, 1.498,  Koninklijke KPN NV, R, 0.861,  Muenchener Rueckversicherungs AG, R, 17.429,  Neste Oil OYJ, R, 0.832,  Orion OYJ, R, 1.48,  Royal Imtech NV, R, 2.088,  Stora Enso OYJ, R, 0.379,  TDC A/S, R, 4.18,  Tele2 AB, R, 8.801,  UBS AG, R, 0.826,  Vinci SA, R, 3.445,  YIT OYJ, R, 1.373
 

European Market Summary

  • Italian and Spanish yields have started to increase in recent days as local political concerns resurface
  • KPN details a €4bn rights issue
  • European press suggests that Denis Ranque the former CEO at Thales is the front runner to become chairman at EADS
  • The Moscow Exchange has set a price range for its IPO, setting a value of $4-6bn with trading seen on February 14
  • Greece sells €625m in bills at 11:00, while the ESM sells up to €2bn in 91 day bills
 

Major US Stock Movers After Hours

  • Advance Energy gained 6% after hours as it announces Q1 EPS ahead of the forecasts
  • Yum Brands came off 6% as it announces it was lowering its profit forecasts after a probe into its chicken products in China
  • Baidu came off around 5% after hours as it announces the slowest profit growth for around 4 years and sees increased competition from rivals
 

S&P 500 Companies Reporting

  • Aflac Inc, Q4, 1.477,  Allergan Inc/United States, Q4, 1.184,  Archer-Daniels-Midland Co, Q2, 0.59,  Automatic Data Processing Inc, Q2, 0.71,  Becton Dickinson and Co, Q1, 1.233,  Cardinal Health Inc, Q2, 0.859,  Cerner Corp, Q4, 0.637,  CH Robinson Worldwide Inc, Q4, 0.7,  Chipotle Mexican Grill Inc, Q4, 1.98,  CME Group Inc/IL, Q4, 0.637,  Computer Sciences Corp, Q3, 0.613,  Delphi Automotive PLC, Q4, 0.866,  Diamond Offshore Drilling Inc, Q4, 1.091,  Eaton Corp PLC, Q4, 0.946,  Emerson Electric Co, Q1, 0.617,  Equity Residential, Q4, 0.828,  Estee Lauder Cos Inc/The, Q2, 1.045,  Expedia Inc, Q4, 0.65,  Fiserv Inc, Q4, 1.404,  Genworth Financial Inc, Q4, 0.272,  Kellogg Co, Q4, 0.662,  Kimco Realty Corp, Q4, 0.306,  NYSE Euronext, Q4, 0.386,  Spectra Energy Corp, Q4, 0.312,  TECO Energy Inc, Q4, 0.213,  Unum Group, Q4, 0.773,  Walt Disney Co/The, Q1, 0.765
 

US Market News

  • The board of Dell is due to meet reportedly to discuss a possible $24bn LBO
  • The US Justice Dept. is expected to file its first ever lawsuit against a rating company, alleging that S&P inflated Mortgage Backed Securities ratings in the run up to the financial crisis in order to gain business, McGraw Hill, S&P’s parent, fell 13% yesterday on the news
  • Facebook is reportedly looking to develop a location tracker for mobile devices
  • Vice president Biden is due to meet Nick Clegg in London today
  • Knight Capital details that it is to cut a further 5% of its jobs as part of its ongoing restructuring and discontinues its clearing business
  • The Banco de Mexico Governor states that a perfect storm may be forming in the world economy where the signs of a recovery are increasing capital inflows into emerging markets, which could trigger asset bubbles
  • The US has moved within $0.025bn of the $16.395tn debt ceiling
 

Overnight Market News

  • Singapore Exchange has declined to comment on reports that it is in talks to acquire a stake in LCH.Clearnet
  • Toyota announced overnight a Q3 net income of 99.9bn yen, and lifts its full year targets, citing the weakening of the yen and also lifts its full year profit forecasts
  • As expected Australia’s RBA left rates unchanged at 3% overnight
 

Economic Data Due

  • 00:01 UK January BRC Sales, 0.3% previous
  • 09:00 Eurozone January PMI, 48.2 exp. 48.2 previous
  • 09:30 UK January PMI Services, 49.8 exp. 48.9
  • 10:00 Eurozone December Retail Sales, -0.4% exp. 0.1% previous
  • 15:00 US January Manufacturing, 55.2 exp. 56.1 previous
 

Economic Events

  • Hollande Speaks to European Parliament
 

UK PMI
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