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

5 mins. to read
7 Feb 2013
Cantor Opening Call
  • The FTSE is seen opening around unchanged today
Cantor Capital Graphs
UK Corporate Announcements
  • Tui Travel states that it sees its 2013 underlying operating profit growth at the top end of the forecasts as it sees strong demand across key markets
  • ICAP announces that its balance sheet remains strong as it states that Q3 trading was challenging and revenues were down 13% from last year and sees a full year pre-tax profit of £280-305m
  • Compass Group details that its chairman is to retire and that it saw Q1 organic sales growth of 6%, just ahead of the forecasts
  • Ocado states that it sees the UK market as staying soft, as it details full year sales of £678m ahead of the forecasts of £665m seen
  • Bellway details home prices have continued to increase, up 2.3%, and that it sold 2,597 homes from 2,455 and sees a 12.5% operating margin up from 10.1% in 2012
  • Vodafone announces Q3 organic service revenues fell 2.6% just worse than the expectations of a 2.4% fall, and states that conditions on southern Europe remain challenging, but confirms its full year outlook
  • Wincanton states that it continues to trade in line with the market expectations
  • Dairy Crest details that Q3 trading has been in line, and states it has continued to cope well in the challenging environment
  • McBride announces H1 revenues of £378m down 11% and states that current trading
UK Market News
  • The Bank of England announces rates midday today, all economists polled by Bloomberg expect no change in rates
  • GlaxoSmithKline stays in the news after its results yesterday as the US state of Louisiana files a suit alleging off-label marketing of various of its medications, and also is in the news after it detailed yesterday that it could sell off its Ribena and Lucozade brands
  • The FT suggests that buyout firms such as Apax and KKR are circling round EE the UK’s largest mobile phone operator
  • The UK SFO is yet to shake off the Vincent Tchenguiz affair, after reports he is seeking as much as £200m in damages over its mishandling of the investigations into his finances
  • Burberry announces that CFO Cartwright is to step down in July and will be replaced Carol Fairweather
  • David Cameron is off to the latest EU budget talks today
UK Analyst Changes
  • Aviva Addded, Prudential Cut From Citi’S Focus List
  • BG Group Reinstated Neutral at BofAML
  • Buy Essar Energy, Catalysts Offer 100% Upside, BofA Says
  • Citi Still Sees Upside in European Insurance; Lists Top Picks
  • Daily Mail Raised To Neutral Vs Underperform At Exane
  • Diageo Cut to Sector Perform vs Outperform at RBC Capital
  • Enrc Cut To Sector Perform Vs Outperform At Rbc Capital
  • Experian Rated New Overweight At Barclays; Pt 1,250P
  • Virgin Media Cut To Hold Vs Buy At Deutsche Bank
UK Insider Buying
  • Low & Bonar Plc, (LWB), 1 insider(s) bought 50000 shares, £0.63
UK Insider Selling
  • Bp Plc, (BP/), 1 insider(s) sold 49613 shares, £4.7
  • Polymetal Internationa, (POLY),  insider(s) sold 15000 shares, £10.85
FTSE 100 Movers
FTSE 100 Movers Graphic
Major European Companies Reporting
  • Alcatel-Lucent/France, R, -0.169,  Assa Abloy AB, R, 13.96,  Credit Suisse Group AG, R, 1.895,  Daimler AG, R, 4.727,  Danske Bank A/S, R, 5.446,  Dassault Systemes SA, R, 3.399,  DNB ASA, R, 8.284,  Eutelsat Communications SA, S1, 0.785,  HeidelbergCement AG, R, 2.736,  Holmen AB, R, 14.678,  Metso OYJ, R, 2.859,  Nutreco NV, R, 5.051,  Orkla ASA, R, 2.825,  Outotec OYJ, R, 2.778,  Sanofi, R, 6.209,  Skanska AB, R, 7.181,  Smith & Nephew PLC, R, 0.756,  Statoil ASA, R, 16.585,  Swisscom AG, R, 33.728,  TGS Nopec Geophysical Co ASA, R, 2.75,  Tryg A/S, R, 35.744,  TUI Travel PLC, Q1, 0,  Umicore SA, R, 2.464,  Voestalpine AG, Q3, 0.44
European Market Summary
  • The Irish Finance Minister has stated that the ECB is weighing the Irish proposal on AIB’s promissory notes
  • Russian newspaper and airline owner Alexander Lebedev’s trial starts today where he is charged with hooliganism for punching a property developer on a televised talk show in 2011
  • Reports suggest that Russia is planning to move its timezone from permanent summer time, to permanent winter time by the end of 2013
  • Spain sells 2015 bonds at 10:30 and France sells bonds at 10:50
Major US Stock Movers After Hours
  • News Corp came off 5% in Australian trading as it announces it was cutting profits citing lower ratings at its American Idol and X Factor programmes, its largest fall since Summer 2011
  • Visa announced Q1 results after hours that were ahead of the forecasts and authorises a $1.75bn buyback
  • Yahoo gained 2% as it announces it has signed an agreement to use Google’s services for display ads
S&P 500 Companies Reporting
  • Apartment Investment & Management Co, Q4, 0.504,  CareFusion Corp, Q2, 0.521,  Cigna Corp, Q4, 1.475,  Coca-Cola Enterprises Inc, Q4, 0.434,  Cognizant Technology Solutions Corp, Q4, 0.913,  Exelon Corp, Q4, 0.647,  FLIR Systems Inc, Q4, 0.497,  Hasbro Inc, Q4, 1.195,  International Flavors & Fragrances Inc, Q4, 0.842,  Kraft Foods Group Inc, Q4, 0.471,  Microchip Technology Inc, Q3, 0.394,  Noble Energy Inc, Q4, 1.135,  Philip Morris International Inc, Q4, 1.224,  Republic Services Inc, Q4, 0.43,  Scripps Networks Interactive Inc, Q4, 0.919,  Sigma-Aldrich Corp, Q4, 0.946,  Snap-on Inc, Q4, 1.376,  Sprint Nextel Corp, Q4, -0.44,  Starwood Hotels & Resorts Worldwide Inc, Q4, 0.652,  Teradata Corp, Q4, 0.74,  XL Group PLC, Q4, -0.359,  Xylem Inc/NY, Q4, 0.46
US Market News
  • Blackberry is selling its latest Z10 smartphone reportedly 3 times quicker in the UK than any of its previous models
  • The US is preparing for a possible significant winter storm that could drop as much as 10 inches of snow in New York and as much as 2 feet in Boston
  • Dell has set a deadline of November 5th to complete its planned LBO
  • The FT suggests that Cantor Fitzgerald is in late stage talks to buy the UK based investment bank Seymour Pierce
  • Amazon has filed a patent on a marketplace for used digital objects where after a set limit of transfers any new transfer request could be halted
  • Platinum prices moved up to a 16 month high yesterday after some concerns that supply will be crimped from South Africa
Overnight Market News
  • Asian markets have come off a little overnight, from the decent trading yesterday, the Shanghai Composite is up 24% since December
  • China’s central bank has stated that inflation risks are growing as the global monetary easing could push up commodity prices and make global capital flows more volatile
  • Nikon the camera maker fell 19%, the largest falls since 1985 as it cuts its full year forecasts
  • Sony announced an unexpected 8th quarterly loss citing continued slow TV demand, but maintains its full year forecasts
Economic Data Due
  • 09:30 UK December Industrial Production, 0.7% exp. 0.3% previous
  • 09:30 UK December Manufacturing Production, 0.6% exp. -0.3% previous
  • 12:00 UK MPC Rate Announcement, 0.5% exp. 0.5% previous
  • 12:45 ECB Interest Rate Announcement, 0.75% exp. 0.75% previous
  • 13:30 US Weekly Initial Jobless Claims, 360k exp. 368k previous
Economic Events
  • 09:45 UK BofE Governor Designate questioned by MPs
  • EU Leaders Summit in Brussels

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