From the Floor October 11

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ETX Capital -From The Floor is a daily briefing and global market report to keep you informed as you trade

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From the Floor October 11

  1. 1. From The Floor 27 October 2011 Key Global Indices UK Market Snapshot Last 1D % 5D % 1M% 1Y% Cl ose Chg Chg Chg Chg  UK markets closed mixed yesterday, with the FTSE 100 index ending FTSE 100 5,553.2  0.5% 1.9% 9.1% -2.7% modestly higher amid expectation that European policymakers would DJSTOXX 50 2,289.1  0.3% 1.3% 9.3% -10.2% present a specific plan to contain the region’s debt crisis. Among precious FTSEurofirst 300 983.8  0.1% 1.6% 9.6% -9.7% metal stocks, Fresnillo, the top gainer on the FTSE 100 index, rose 4.4%, German DAX 30 6,016.1  -0.5% 1.7% 12.5% -9.0% while Randgold Resources climbed 2.5%, as gold and silver prices rallied. French CAC 40 3,169.6  -0.1% 0.4% 10.9% -17.7% Antofagasta climbed 2.1%, tracking a rise in copper prices. Kazakhmys Russia RTS Index 1,530.1  2.0% 6.4% 16.3% -4.9% S&P 500 1,242.0  1.1% 2.7% 6.8% 4.8% gained 1.1%, amid optimism, ahead of its interim results. British American Dow Jones Industrials 11,869.0  1.4% 3.2% 7.5% 6.3% Tobacco gained 1.5%, after its revenue increased 7% year-on-year in the first Nasdaq Composite 2,650.7  0.5% 1.8% 5.3% 6.1% nine months of 2011.However, banking stocks, Barclays, Royal Bank of Brazil Bovespa 57,143.8  1.5% 4.0% 6.3% -19.2% Scotland and Lloyds Banking Group retreated between 0.8% and 2.1%, Nikkei 225* 8,849.0  1.1% -0.3% 4.5% -6.7% following disappointing results from their Spanish peer, BBVA. Reckitt Shanghai Composite* 2,436.8  0.4% 2.1% 1.4% -20.2% Benckiser lost 2.1%, following downgrade by various brokers. FTSE 100 rose Sensex 17,288.8 0.0% 1.2% 7.7% -14.5% 0.5% to close at 5,553.2,while FTSE 250 lost 0.1% to settle at 10,422.4. *Time - BST 5:18:04 AM European Market Snapshot 5,575  Other European markets ended mostly lower yesterday, amid uncertainty over the European leaders’ plan to tackle the sovereign-debt crisis, ahead of 5,558 the crucial EU summit, and following a slew of broker downgrades. However losses were limited following better-than-expected US durable-goods orders 5,540 and home sales data. Banking stocks, UniCredit, BNP Paribas and Commerzbank, slid between 0.9% and 2.5%, as risk appetite decreased 5,523 among investors. Adidas eased 3.0%, after Morgan Stanley downgraded the stock to “Equal weight” from “Overweight”. Areva, slid 3.2%, after the 5,505 company stated that its FBFC International subsidiary might close its nuclear 8:00 9:45 11:30 13:15 15:00 16:35 fuel fabrication site in Dessel, Belgium, while, pharmaceutical stock, Merck rallied 8.5%, after the company’s third-quarter earnings surpassed market expectations. FTSEurofirst 300 index added 0.1% to 983.8. German DAX 11,900 Xetra 30 fell 0.5% to 6,016.1. French CAC-40 edged down 0.1% to 3,169.6. 11,845 US Market Snapshot  US markets rebounded yesterday, closing higher, as Europe agreed on plans 11,790 to recapitalize banks and after US economic reports exceeded market expectations. Furthermore, speculation of a possible Chinese investment in 11,735 the euro-zone bailout fund also boosted market sentiment. Petroleum refiner and marketer, Valero Energy, the top gainer on the S&P 500 index, 11,680 9:30 10:45 12:00 13:15 14:30 15:45 surged 15.2%, amid reports that it could be takeover bid for Royal Dutch Shell and Reliance Industries. F5 Networks surged 14.1%, following a 40.0% rise in its fourth-quarter profit. IBM edged up 0.9%, following news that its global sales chief Virginia Rometty would succeed Sam Palmisano as CEO in 8,860 January next year. Boeing climbed 4.5%, and emerged as the top gainer on the DJIA index, as it raised its full year earnings outlook. DJIA surged 1.4% to 8,828 11,869.0. NASDAQ edged up 0.5% to 2,650.7. S&P 500 rose 1.1% to 1,242.0. 8,795 Asian Market Snapshot 8,763  Asian markets are trading higher this morning, tracking overnight gains on Wall Street, following report that European leaders would approve an 8,730 9:00 9:45 10:30 11:15 agreement with banks on writedown of Greek debt and after French President Nicolas Sarkozy stated that the region’s bailout fund would be leveraged by four to five times. In Japan, construction machinery maker, Manoj Ladwa 0207 392 1487 Komatsu, paced gains, after orders for US durable goods rose higher in Index and Equity Desk 0207 392 1479 September. Optical-equipment maker, Olympus gained value, after the Institutional Equities 0207 392 1477 company’s President stepped down amid a scandal over adviser payments. Commodities 0207 392 1403 Exporters, Honda Motor and Nissan Motor paced gains, as concerns about Options 0207 392 1472 future demand eased. In Hong Kong, banking stocks, Agricultural Bank of Currencies 0207 392 1455 China and China Citic Bank traded higher after posting their third-quarter Internet Dealing Desk 0207 392 1434 earnings that surpassed market expectations. In South Korea, refiners, S-Oil and SK Innovation gained values, following higher crude oil prices. Nikkei 225 index is trading 1.1% higher, at 8,849.0. Hang Seng index is trading 1.5% higher at 19,345.5, while the Kospi index is trading 0.9% higher, at 1,911.7.ETX Capital, Beaufort House, 15 St Botolph Street, London EC3A 7DT Tel+44 (0) 207 392 1453customerservice@etxcapital.co.uk www.etxcapital.com Refer to the last page for disclaimer
  2. 2. 27 October 2011 Commodities 94.0 1730.0 7,800 2,220 93.0 1722.5 7,550 2,190 $/ M T $/ b b l 7,300 2,160 $ /OZ 92.0 1715.0 7,050 2,130 91.0 1707.5 6,800 2,100 90.0 0:00 5:30 11:00 16:30 22:40 1700.0 13-Oct 18-Oct 21-Oct 26-Oct 0:00 5:40 11:20 17:00 23:30 Copper - LHS Aluminium - RHS In Asia, crude oil for December delivery is trading 1.8% or $1.58 higher at $91.78 per barrel. Yesterday, crude oil for December delivery declined 3.2% or $2.97 to settle at $90.20 per barrel, after the Energy Information Administration reported that crude supplies rose 4.7 million barrels in the week ended 21 October, surpassing market expectations. Crude oil prices also traded lower amid uncertainty over a detailed plan to resolve the European debt crisis. Gold for immediate delivery is trading flat today, at $1,723.68 per ounce. Gold for December delivery added 1.4% or $23.10 to settle at $1,723.50 per ounce yesterday, amid uncertainty over the ability of European Union leaders to prevent the spread of region’s sovereign debt crisis. Currencies 1.1540 1.6050 1.4020 1.1518 1.6008 1.3960 1.1495 1.5965 1.3900 1.1473 1.5923 1.3840 1.1450 1.5880 1.3780 0:00 6:40 13:20 20:00 2:40 0:00 6:40 13:20 20:00 2:40 0:00 6:40 13:20 20:00 2:40 At 0400 BST today, the GBP is 0.2% higher against the USD at $1.6009, 0.3% lower against the EUR at €1.1465, and 0.1% higher against the JPY at ¥121.74. The EUR is trading 0.6% higher against the USD at $1.3963. The EUR is trading 0.4% higher against the JPY at ¥106.20. The EUR is trading higher against the USD and the JPY, as European Union leaders announced that they had reached agreement on a plan to recapitalize the region’s banks, raising demand for risky assets. The NZD is trading higher against the USD, after the New Zealand’s Reserve Bank Governor, Alan Bollard, highlighted that borrowing costs might need to be raised. The CAD is trading higher against the USD and the EUR, following reports that US durable goods orders were stronger than expected, increasing demand for export linked currency. Yesterday, the USD ended higher against the EUR and the GBP, amid mounting concern that European leaders would not be able to come up with a solution to the euro-region debt crisis at a summit in Brussels, after a group of banks announced that there was no deal with the European Union on restructuring Greek sovereign debt. The USD ended higher against the JPY, amid speculation of monetary easing by Japan, ahead of the Bank of Japan’s one-day policy meeting. The AUD closed lower against the USD, amid speculation that the Australian Reserve Bank would cut interest rates, after a report showed that consumer price growth eased in the third-quarter. 2 From The Floor Refer to the last page for disclaimer
  3. 3. 27 October 2011Key Economic Releases Today Conse nsus/ *Country BST E c onomi c Indi c a tor P re vi ous Fre que nc y A c tua l sUK 11:00 CBI Reported Sales (Oct) -16.00 -15.00 MonthlyGermany - Consumer Price Index (MoM) (Oct) 0.10% 0.10% MonthlyGermany - Consumer Price Index (YoY) (Oct) 2.50% 2.60% MonthlyGermany - Consumer Price Index - EU Harmonised (YoY) (Oct) 2.80% 2.90% MonthlyEurozone 9:00 M3 Money Supply (3M) (Sep) 2.60% 2.30% MonthlyEurozone 9:00 M3 Money Supply (YoY) (Sep) 2.80% 2.80% MonthlyEurozone 9:00 Business Climate Indicator (Oct) -0.20 -0.06 MonthlyEurozone 9:00 Consumer Confidence (Oct) -19.90 -19.90 MonthlyEurozone 9:00 Economic Confidence (Oct) 93.80 95.00 MonthlyEurozone 9:00 Industrial Confidence (Oct) -7.00 -5.90 MonthlyEurozone 9:00 Services Confidence (Oct) -1.00 0.00 MonthlyUS 13:30 Gross Domestic Product Annualised (Q3) 2.50% 1.30% QuarterlyUS 13:30 Gross Domestic Product Price Index (Q3) 2.40% 2.50% QuarterlyUS 13:30 Core Personal Consumption Expenditure (QoQ) (Q3) 2.20% 2.30% QuarterlyUS 13:30 Continuing Jobless Claims (W/E) 3700.0 K 3719.0 K WeeklyUS 13:30 Initial Jobless Claims (W/E) 400.00 K 403.00 K WeeklyUS 15:00 Pending Home Sales (YoY) (Sep) 11.80% 13.10% MonthlyJapan - Bank of Japan Rate Decision (Oct 27) 0.10% 0.10% -Japan 0:50 Large Retailers Sales (Sep) -3.60%* -2.60% MonthlyJapan 0:50 Retail Trade s.a. (MoM) (Sep) -1.50%* -1.70% MonthlyJapan 0:50 Retail Trade (YoY) (Sep) -1.20%* -2.60% Monthly Re a l G D P - YoY CP I - YoY 10 Ye a r Bond Yi e l d 0.06UK 0.7% 5.2% 2.5%US 1.6% 3.9% 2.2% 0.03Japan -1.0% 0.2% 1.0% 0.01France 1.6% 2.2% 3.3%Germany 2.7% 2.6% 2.1% -0.01Brazil 3.1% 7.3% 4.0%Russia 3.4% 7.2% 6.0% -0.04 Oct-09 Apr-10 Jun-10 Apr-11 Jun-11 Dec-09 Aug-10 Oct-10 Feb-10 Dec-10 Aug-11 Feb-11India 7.7% 9.0% 8.8%China 9.1% 6.1% 3.7% 3 From The Floor Refer to the last page for disclaimer
  4. 4. 27 October 2011 Key Corporate Releases TodayUK Compa ny N a me Re sul ts Curre nc y Ful l Ye a r Conse nsus E sti ma te d E P S E sti ma te d Re ve nue (Mn) Royal Dutch Shell Plc Q3 GBP 4.19 453,944.00 AstraZeneca Plc Q3 GBP 7.24 33,546.70 SK Telecom Co Ltd. ADS Q3 USD 2.15 14,846.00 Virgin Media Inc. Q3 GBP 60.74 4,003.97 Note: All Estimates are for Full YearCroda International, DS Smith, APR Energy, Inchcape, Laird, William Hill, Kewill Plc, Go-Ahead GroupAlumasc Group, Ashmore Group, CPL Resources, Go-Ahead Group, Murgitroyd GroupCPL Resources, Puma VCT III, Puma VCT IVOxford Instruments, Penna ConsultingDevelopment Securities, Henry Boot, Inmarsat, International Power, Lighthouse Group, Puma VCT III, Puma VCT IV,Quarto Group Inc.EuropeCompa ny N a me Re sul ts Curre nc y Ful l Ye a r Conse nsus E sti ma te d E P S E sti ma te d Re ve nue (Mn)Statoil Asa Q3 NOK 17.03 617,801.00Volkswagen Ag Q3 EUR 19.62 148,706.00Eni Spa Q3 EUR 2.08 110,210.00Daimler Ag Q3 EUR 5.31 105,230.00Norsk Hydro Asa Q3 NOK 2.38 96,163.10Axa Sa Q3 Sales EUR 2.01 91,625.20Note: All Estimates are for Full YearUS Compa ny N a me Re sul ts Curre nc y Ful l Ye a r Conse nsus Re l e a se E sti ma te d E P S E sti ma te d Re ve nue (Mn) T i me Exxon Mobil Corp Q3 USD 8.51 473,500.00 U Cardinal Health Inc Q1 USD 3.17 106,750.00 U Procter & Gamble Co Q1 USD 4.21 87,140.00 U No te: A ll Estimates are fo r Full Year (A = A fter the market clo ses, B = B efo re the market o pens, D = During market ho urs, U = Time unkno wn ) 4 From The Floor Refer to the last page for disclaimer
  5. 5. 27 October 2011 What’s Hot & What’s Not Fresnillo Smiths Group -4.4% 4.4% 3.2% Imperial Tobacco Group Land Securities Group -2.7% Reckitt Benckiser Group -2.1% 2.7% Shire 2.5% Randgold Resources Ltd Next -2.1% 2.3% Legal and General Group Lloyds Banking Group -2.1% Meggitt Plc Rolls-Royce Group -2.0% 2.1% 2.1% Burberry Group British Land Co -1.8% Antofagasta Pearson -1.7% 2.1% 1.9% Wolseley Hargreaves Lansdown -1.5% 1.9% Sage Group G4S -1.5% 0.0% 1.3% 2.5% 3.8% 5.0% -5.0% -3.8% -2.5% -1.3% 0.0%Major Movers & Shakers Precious metal stocks, Fresnillo and Randgold resources, rallied 4.4% and 2.5% respectively, tracking higher silver and gold prices. Imperial Tobacco Group added 3.2%, after its peer British American Tobacco’s nine-month organic revenue rose 7%. Shire climbed 2.7%, after Societe Generale upgraded the stock to “Buy” from “Hold”. Antofagasta advanced 2.1%, in line with a rise in base metal prices. Smiths Group slumped 4.4%, after going ex-dividend. Reckitt Benckiser lost 2.1%, after ING Groep cut its recommendation on the stock to “Hold” from “Buy”. Next fell 2.1%, after Deutsche Bank downgraded the stock to “Hold” from “Buy”. 5 From The Floor Refer to the last page for disclaimer
  6. 6. 27 October 2011DisclaimerThis e-mail, including its contents and any attachments are confidential. Please delete this email and notify the senderimmediately, if you are not the named recipient. You should not copy it for any purpose or disclose its contents to any otherparties. Copyright is the property ETX Capital.Any prices or data contained herein are indicative and subject to change without notice; its accuracy is not guaranteed andshould not be relied on. E-mail transmission cannot be guaranteed to be secure or free from errors. The sender therefore doesnot accept liability for any errors or omissions in the contents of this message which arise as a result of e-mail transmission.Although ETX Capital has taken reasonable precautions to minimise the risk of transmitting software viruses, we advise you tocarry out your own virus checks on any attachment to this message. We make no representation or warranty as to the absenceof viruses in this e-mail or any attachments. In order to protect our customers and business and comply with our regulatoryrequirements, we may monitor and read e-mails sent to and from our server(s).If you receive this email in error, please telephone +44 (0) 20 7392 1494ETX Capital is a trading name of Monecor (London) Limited which is registered in England at Beaufort House, 15 St BotolphStreet, London, EC3A 7DT under company number 851820, and is authorised and regulated by The Financial Services Authority,FSA registration number 124721 6 From The Floor

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