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

Cantor Opening Call

UK Corporate Announcements

Telecom Plus states that it sees its full year results in line
Kofax announces Q2 revenues fell 9% to $63.7m
Fidessa states that it has made a solid performance in the challenging markets
Smurfit Kappa states that as a result of the Venezuelan currency devaluation it will see a reduction in net assets of around €142m, and that the impact would not be material

UK Market News

According to reports the UK government has suggested that an independent Scotland would need to reapply to the EU
The FT writes that the CME has been given approval to clear interest rate swaps
The paper also writes that Barclays is seen cutting around £2bn from its annual cost base
Sky News suggests that Lloyds after difficulties with its planned branch sale may consider an IPO
The Telegraph writes that the government has abandoned another pledge, this time on Inheritance Tax
The Guardian writes on how a unit of Associated British Foods has been criticises by an African charity of avoiding taxes in Zambia

UK Analyst Changes

UK Insider Buying

UK Insider Selling

FTSE 100 Movers

Major European Companies Reporting

Bilfinger SE, R, 6.137, Boliden AB, R, 11.968, Galp Energia SGPS SA, R, 0.44, L’Oreal SA, R, 4.771, Telenet Group Holding NV, R, 0.826, Wereldhave NV, R, 3.768

European Market Summary

Euro-area Finance Ministers meet in Brussels today
The FT suggests that a new plan for Cyprus would require uninsured depositors in Cypriot banks, as well as investors in sovereign bonds would be forced to take greater losses
11:30 Germany sells €4bn in bills
14:50 France sells up to €4bn in bills

Major US Stock Movers After Hours

AOL’s chief details that he owns a stake equal to 5.98%, the stock gained 7% after hours as it announced Q4 sales gained 4%

S&P 500 Companies Reporting

Dun & Bradstreet Corp/The, Q4, 2.405, Loews Corp, Q4, 0.295, Masco Corp, Q4, 0.006

US Market News

Sources suggest that US Airways and AMR are in talks over a possible $11bn merger and which would create the world’s largest airline
Cantor Fitzgerald announced late on Friday that it is to buy the corporate finance business of Seymour Pierce
Barron’s suggest that CSX could gain a much as 35% in the next year as coal demand starts to stabilise
The paper also flags up analysts that feel that there was still a reasonable chance that the Dell LBO would fall apart
And finally the paper quotes analysts that sees Wendy’s gaining as much as 40% as it refreshes its menu and renovates its outlets
Hugo Chavez over the week end devalued the bolivar by 32% to 6.4 bolivars per dollar, the fifth devaluation in nine years, some analysts fear that local inflation could reach 30% this year from 22% in 2012

Overnight Market News

China and Hong Kong markets will be closed this week for the New Year eelebrations, while Japanese markets were also closed today for National Foundation Day
Official data has China surpassing the US as the world’s largest trading nation last year, according to measures using the sum of exports and imports of goods, US imports and exports totals $3.82tn, while China’s stood at $3.87tn

Economic Data Due

Economic Events

Lloyds Unemployment