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

6 Feb 2013
Cantor Opening Call
  • The FTSE is seen starting the day up around 10 points higher
 
 
UK Corporate Announcements
  • Daily Mail states that trading is in line with the forecasts and details that it is rename its consumer group as DMG Media
  • WS Atkins maintains its full year outlook and states its trading is in line with the expectations
  • Homeserve states that it sees the full year adjusted pre-tax profit in line with the market forecasts
  • Quintain Estates announces that markets outside London stay challenging and that it is making good progress on its repositioning
  • Grainger details that the UK housing market remains fragile
  • RBS announces that it is in late stage settlement discussions with regulators and that it would update the market ‘shortly’ but sees significant penalties and sanctions
 
UK Market News
  • Liberty Media confirms that it is to buy Virgin Media in a stock and cash deal worth $23.3bn, at a hefty 24% premium to the share price on the close February 4th
  • RBS will stay in focus as it is expected to face a $783m fine over Libor allegations, while Vince Cable suggests that its shares should be given away to taxpayers
  • While The Telegraph suggests that new chief at Barclays is looking to “shred” the legacy of former boss Bob Diamond
  • Boris Johnson has suggested that London should keep some of the taxes raised on properties to be able to use the funds to build much needed new homes
  • FTSE 100 Dividends: Unilever, ULVR, (20.39)
  • FTSE 250 Dividends: Aberforth Smaller Companies Trust PLC, ASL, (15.25), Daejan Holdings PLC, DJAN, (25), Edinburgh Investment Trust PLC/The, EDIN, (5), Stagecoach Group PLC, SGC, (2.60), Victrex PLC, VCT, (28.40)
  • FTSE Small Share: City Merchants High Yield Trust PLC, CMHY, (2.50),  Dunedin Income Growth Investment Trust PLC, DIG, (2.50),  Ecofin Water & Power Opportunities PLC/fund, ECWO, (1.625),  Henderson Far East Income Ltd, HFEL, (4.10),  Investors in Global Real Estate Ltd, IGRE, (1.05),  ISIS Property Trust LTD, IPT, (2),  JPMorgan Claverhouse Investment Trust PLC, JCH, (8.35),  Polar Capital Global Healthcare Growth & Income PLC, PCGH, (.50),  Schroder Real Estate Investment Trust Ltd, SREI, (.88),  Standard Life Investment Property Income Trust PLC, SLI, (1.133)
 
UK Analyst Changes
  • Ashmore Cut To Equalweight Vs Overweight At Morgan Stanley
  • Centrica Cut To Hold From Buy At Berenberg, Pt 370P Vs 365P
  • Centrica Cut To Hold Vs Buy At Berenberg
  • Lonmin Raised To Hold Vs Sell At Deutsche Bank
  • Lonrho Cut To Hold Vs Buy At Jefferies
  • Man Group Added To Ubs’S Most Preferred List
  • Meggitt Cut To Neutral Vs Buy At Ubs
  • National Grid Reinitiated At Hold At Berenberg; Pt 700P
  • Schroders Added To Ubs’ Least Preferred List
  • Schroders Raised To Overweight At Morgan Stanley
  • Telecity Raised To Buy Vs Hold At Jefferies
  • Wpp Pt Raised 15% To 1,230P At Exane; Kept At Outperform
 
UK Insider Buying
  • Brown (N) Group Plc, (BWNG), 1 insider(s) bought 34481 shares, £3.79
  • City Of London Investme, (CLIG), 1 insider(s) bought 25000 shares, £2.8
  • Fortune Oil Plc, (FTO), 1 insider(s) bought 115116 shares, £0.11
 
FTSE 100 Movers
 
 
Major European Companies Reporting
  • ArcelorMittal, R, 0.165,  Elan Corp PLC, Q4, -0.036,  Elisa OYJ, R, 1.341,  GEA Group AG, R, 1.678,  GlaxoSmithKline PLC, R, 1.113,  Hargreaves Lansdown PLC, S1, 0.141,  Industrivarden AB, R, 11.82,  Kemira OYJ, R, 0.846,  Lundin Petroleum AB, R, 0.604,  Mapfre SA, R, 0.295,  Marine Harvest ASA, R, 0.093,  Nokian Renkaat OYJ, R, 2.506,  Pohjola Bank PLC, R, 0.91,  Smurfit Kappa Group PLC, R, 1.006,  Svenska Handelsbanken AB, R, 21.558,  Syngenta AG, R, 22.22,  Terna Rete Elettrica Nazionale SpA, R, 0.219,  Volvo AB, R, 6.183
 
European Market Summary
  • Germany states that it would not stand in the way of aid for Cyprus as long as the country continues to fulfil the criteria required
  • Hollande has suggested that the Eurozone should manage its exchange rate, in the clearest call yet that the euro recovery could hamper the recovery, and also trigger a new front in the currency wars
  • Germany sells €1bn in 5 year notes at 11:30, and Sweden sells SEK3.5bn in bonds at 11:03
 
Major US Stock Movers After Hours
  • Disney gained 3% after hours as it announces Q1 adjusted EPS  just ahead of the forecasts, and also confirms that it was planning additional Star Wars films beyond the new trilogy
  • Hewlett Packard is reportedly looking at a possible break up, potentially within 1-2 years, the stock gained 4% after hours on the news
  • Expedia gained 4% as it announces Q4 revenues ahead of the expectations
 
S&P 500 Companies Reporting
  • AGL Resources Inc, Q4, 0.974,  Akamai Technologies Inc, Q4, 0.496,  Allstate Corp/The, Q4, -0.047,  American Electric Power Co Inc, Q4, 0.451,  Assurant Inc, Q4, -0.313,  CBRE Group Inc, Q4, 0.484,  Cincinnati Financial Corp, Q4, 0.49,  Coventry Health Care Inc, Q4, 0.679,  Cummins Inc, Q4, 1.758,  CVS Caremark Corp, Q4, 1.103,  Equifax Inc, Q4, 0.751,  FMC Corp, Q4, 0.809,  IntercontinentalExchange Inc, Q4, 1.749,  Lincoln National Corp, Q4, 1.061,  Marathon Oil Corp, Q4, 0.667,  News Corp, Q2, 0.427,  O’Reilly Automotive Inc, Q4, 1.076,  Prologis Inc, Q4, 0.412,  Prudential Financial Inc, Q4, 1.741,  Ralph Lauren Corp, Q3, 2.22,  Stericycle Inc, Q4, 0.857,  Tesoro Corp, Q4, 1.394,  Time Warner Inc, Q4, 1.099,  Visa Inc, Q1, 1.785,  Wyndham Worldwide Corp, Q4, 0.599
 
US Market News
  • The US markets had another wave of heavyweight corporate results, and the recent pattern continues as they seem to largely beat the forecasts
  • E*Trade announces that its COO is to leave, while Fannie Mae details that its CFO is to retire in June
    President Obama has proposed a short term budget fix, which have been objected to by the GOP
  • Dell has naturally taken much of the headlines as the company is to go private, giving Michael Dell greater freedom to make structural changes at the group
  • S&P itself will be the target for the next few days as details emerge on the US case against it, alleging that some internal emails described deals before the collapse in 2008 as being‘structured by cows’ 
  • Goldman Sach’s Jim O’Neill announces that he is to step down chairman of the asset management division this year
 
Overnight Market News
  • Nikkei has closed at its highest close since September, 2008, up 3.6% buoyed by strength in heavyweights like Toyota and as the yen has weakened to its lowest level in almost three years
  • With the Japanese finance minister stating that the Bank of Japan policy tools were sufficient for now after some calls for additional measures to counter deflation
 
Economic Data Due
  • 00:01 UK January BRC Shop Price Index, 1.5% previous
  • 11:00 German December Factory Orders, 0.5% exp. -1.8% previous
 
Economic Events
  • US Treasury Quarterly Refunding
 
German Manufacturing
Swen Lorenz: