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

1. From The Floor
10 October 2011
Key Global Indices
UK Market Snapshot
Last 1D % 5D % 1M% 1Y%
Cl ose Chg Chg Chg Chg  UK markets ended marginally higher on Friday, as an upbeat US employment
FTSE 100 5,303.4  0.2% 3.4% -0.3% -6.3% data for September offset a downgrade of UK banks by Moody’s Investors
DJSTOXX 50 2,222.3  0.8% 2.9% 3.4% -11.6% Service. Vedanta Resources, the top gainer on the FTSE 100 index, rose 4.2%,
FTSEurofirst 300 947.6  0.7% 2.6% 1.7% -11.5% after reporting a broad-based production growth, while Rio Tinto,
German DAX 30 5,675.7  0.5% 3.2% 5.0% -9.6%
Antofagasta and Xstrata gained between 1.2% and 2.7%, amid easing
French CAC 40 3,095.6  0.7% 3.8% 0.7% -17.9%
worries over a double-dip recession in the US and tracking a rise in base
Russia RTS Index 1,311.9  3.2% -2.2% -21.4% -17.2%
S&P 500 1,155.5  -0.8% 2.1% -3.6% -0.2%
metal prices. Wolseley climbed 4.1%, as Bank of America reiterated its “Buy”
Dow Jones Industrials 11,103.1  -0.2% 1.7% -2.7% 1.4%
recommendation on the stock. ITV gained 3.4%, after Macquarie initiated
Nasdaq Composite 2,479.4  -1.1% 2.6% -2.7% 4.0% coverage on the stock with “Outperform” rating. However, Royal Bank of
Brazil Bovespa 51,243.6  -2.0% -2.1% -9.5% -26.7% Scotland and Lloyds Banking Group slipped 3.0% and 3.4%, respectively, as
Nikkei 225 8,605.6  1.0% -1.1% -1.8% -11.1% Moody’s slashed their senior-debt ratings. FTSE 100 edged up 0.2% to
Shanghai Composite* 2,353.7  -0.2% -0.2% -6.2% -11.2% 5,303.4, while FTSE 250 gained 0.7% to 9,958.0.
Sensex* 16,254.1  0.1% -1.3% -4.9% -20.1%
*Time - BST 5:19:59 AM
European Market Snapshot
 Other European markets closed in the positive territory on Friday, amid
5,360 speculation that European policy makers would act to resolve the region’s
debt crisis, and as better-than-expected US non-farm payrolls data eased
5,335 investors’ concern about the pace of economic recovery. Carmakers, BMW,
Volkswagen and Daimler, climbed between 1.8% and 4.1%, as concerns
5,310 about future demand eased. Continental rallied 4.9%, after the company
announced a plan to build a new tire factory at Sumter, South Carolina.
5,285 Energy stock, Total, gained 2.9%, in line with a rise in crude oil prices.
Lufthansa, advanced 2.0%, after Weser Kurier reported that German air
5,260 travel tax might fall. However, gains were restricted by losses in banking
8:00 9:45 11:30 13:15 15:00 16:35
sector stocks, after Moody’s Investors Service downgraded various UK and
Portuguese banks. FTSEurofirst 300 index rose 0.7% to 947.6. German DAX
Xetra 30 climbed 0.5% to 5,675.7. French CAC-40 rose 0.7% to 3,095.6.
US Market Snapshot
11,235
11,184
 US markets ended lower on Friday, led by a decline in financial sector stocks,
on increased concerns about the European debt crisis as a credit rating cut
11,133
for Spain and Italy, overshadowed a better-than expected US employment
report. Sprint Nextel slumped 19.9% and emerged as the top laggard on the
11,081
S&P 500 index, as it announced plans to raise additional capital for
improving its network and handsets. Bank of America, the top decliner on
11,030
9:30 10:45 12:00 13:15 14:30 15:45 the DJIA, slipped 6.1%, while JPMorgan Chase, Goldman Sachs and Morgan
Stanley lost between 5.2% and 6.2%, as Fitch slashed its rating on Spain and
Italy. Clearwire Corp, the top laggard on NASDAQ, tumbled 32.2%, after its
partner, Sprint Nextel, indicated that it might end the companies’
8,668
partnership after the current accord ends in 2012. Genetic analysis tools
provider, Illumina tanked 31.9%, after it projected lower revenues for its
8,650
third-quarter. DJIA edged down 0.2% to close at 11,103.1. NASDAQ dropped
1.1% to settle at 2,479.4. S&P 500 lost 0.8% to end at 1,155.5.
8,632
8,613 Asian Market Snapshot
 Asian markets are trading mixed this morning, following a drop in Chinese
8,595
9:00 9:45 10:30 11:15 13:00 13:45 14:30
housing sales during a week-long holiday, and amid speculation that the
Chinese government would not ease monetary policies, offsetting
announcement that European leaders have reached an agreement to
Manoj Ladwa 0207 392 1487
strengthen the European banking system. In Hong Kong, homebuilders,
Index and Equity Desk 0207 392 1479
China Vanke and Poly Real Estate paced declines. Banking stocks, Industrial &
Institutional Equities 0207 392 1477 Commercial Bank of China and Hang Seng Bank traded lower, tracking losses
Commodities 0207 392 1403 in its UK peers, after Moody’s Investors services downgraded 12 financial
Options 0207 392 1472 institutions. Oil stocks, PetroChina and China Petroleum & Chemical Corp lost
Currencies 0207 392 1455 values, after China cut retail prices for gasoline and diesel fuel on Sunday. In
Internet Dealing Desk 0207 392 1434
South Korea, Samsung Electronics gained value, after the firm reported
better-than-expected 3Q earnings. Markets in Japan are closed on account of
public holiday. Hang Seng index is trading 1.1% lower at 17,527.5, while the
Kospi index is trading 0.5% higher, at 1,768.7.
ETX Capital, Beaufort House, 15 St Botolph Street, London EC3A 7DT Tel+44 (0) 207 392 1453
customerservice@etxcapital.co.uk www.etxcapital.com Refer to the last page for disclaimer

2. 10 October 2011
Commodities
84.2
1668.0 7,560 2,210
83.4 1657.3 7,320 2,183
$/ M T
$/ b b l
7,080 2,155
$ /OZ
82.7 1646.5
6,840 2,128
81.9
1635.8
6,600 2,100
81.1
0:00 5:30 11:00 16:30 22:40 1625.0 23-Sep 28-Sep 3-Oct 6-Oct
0:00 5:40 11:20 17:00 23:40 Copper - LHS Aluminium - RHS
 In Asia, crude oil for November delivery is trading 0.6% or 47 cents higher at $83.45 per barrel. On Friday, crude oil for
November delivery advanced 0.5% or 39 cents to $82.98 per barrel, amid expectation of increase in energy demand, following
better-than-expected non-farm payrolls data. However, gains were limited as Fitch Ratings downgraded sovereign ratings of
Spain and Italy, and Moody’s Investors services downgraded various UK and Portuguese banks.
 Gold for immediate delivery is trading 0.9% higher today, at $1,635.26 per ounce. Gold for December delivery lost 1.1% or
$17.40 to end at $1,635.80 per ounce on Friday, as demand for the safe haven asset waned amid hopes that the global
economy would recover, after US Labour Department reported better-than-expected rise in nonfarm jobs for September.
Currencies
1.1655 1.5650 1.3545
1.1610 1.5590 1.3496
1.1565 1.5530 1.3448
1.1520 1.5470
1.3399
1.1475 1.5410
1.3350
0:00 6:40 13:20 20:00 23:40 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 trading 0.2% higher against the USD at $1.5592, 0.4% lower against the EUR at €1.1591, and
0.2% higher against the JPY at ¥119.66.
 The EUR is trading 0.6% higher against the USD at $1.3453.
 The EUR is trading 0.6% higher against the JPY at ¥103.24.
 The EUR is trading higher against the JPY and the USD, amid speculation that Europe would prevent the sovereign debt crisis
from spreading to other economies after French and German leaders pledged to deliver a plan in three weeks to recapitalize
banks, and following a rise in US nonfarm payroll data.
 The AUD and NZD are trading higher against the JPY, after US jobs report showed that payrolls rose in September by more-
than-forecast, boosting demand for higher-yielding assets.
 The AUD also rose against the USD amid speculation that a report this week would show an increase in employment for
September in Australia.
 On Friday, the USD closed higher against the EUR, as global economic uncertainties resurfaced, after Fitch Ratings downgraded
Italy and Spain’s debt rating, prompting investors to invest in the USD as a safe haven asset.
 The GBP closed higher against the USD amid optimism that the Bank of England’s decision to initiate its bond-purchase
program would help to boost the UK’s slowing economy.
2 From The Floor Refer to the last page for disclaimer

3. 10 October 2011
Key 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 s
UK 0:01 Lloyds Employment Confidence (Sep) -67.00* -66.00 Monthly
Germany 7:00 Exports s.a. (MoM) (Aug) 1.10% -1.90% Monthly
Germany 7:00 Imports s.a. (MoM) (Aug) 0.60% -0.50% Monthly
Germany 7:00 Current Account (Aug) €5.00 bn €7.50 bn Monthly
Germany 7:00 Trade Balance (Aug) €9.00 bn €10.40 bn Monthly
France 7:30 Bank of France Business Sentiment (Sep) - 98.00 Monthly
France 7:45 Industrial Production (MoM) (Aug) -0.70% 1.50% Monthly
France 7:45 Industrial Production (YoY) (Aug) 2.30% 3.70% Monthly
France 7:45 Manufacturing Production (MoM) (Aug) 0.20% 1.40% Monthly
France 7:45 Manufacturing Production (YoY) (Aug) 3.70% 4.20% Monthly
Eurozone 9:30 Sentix Investor Confidence (Oct) -18.00 -15.40 Monthly
US - Columbus Day - - -
Canada - Thanksgiving Day - - -
Japan - Health-Sports Day - - -
Re a l G D P - YoY CP I - YoY 10 Ye a r Bond Yi e l d 2.25%
UK 0.7% 4.5% 2.5%
US 1.6% 3.8% 2.1% 1.41%
Japan -1.0% 0.2% 1.0%
0.58%
France 1.6% 2.2% 2.8%
Germany 2.7% 2.4% 2.0%
-0.26%
Brazil 3.1% 7.3% 4.0%
Russia 3.4% 7.2% 6.0% -1.10%
Sep-09
Nov-09
Jan-10
Mar-10
May-10
Jul-10
Sep-10
Nov-10
Jan-11
Mar-11
May-11
Jul-11
India 7.7% 9.0% 8.6%
China 9.5% 6.2% 3.9%
3 From The Floor Refer to the last page for disclaimer

4. 10 October 2011
Key Corporate Releases Today
UK
Compa ny N a me Re sul ts Curre nc y Ful l Ye a r Conse nsus
E sti ma te d E PS E sti ma te d Re ve nue (Mn)
YouGov Plc Prelim GBP 4.68 58.88
Note: All Estimates are for Full Year
Michael Page International, X5 Retail Group NV GDR (Reg S)
Jupiter European Opportunities Trust, Mid Wynd International Inv Trust
Petmin Ltd. (DI)
Lamprell, Tex Holdings, Africa Opportunity Fund Ltd, Alpha Pyrenees Trust Ltd
Europe
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)
Demos Sa Q2 EUR 0.74 109.00
Dnxcorp Sa Q3 Sales EUR 2.75 57.13
Cerep Sa Interim EUR (0.05) 26.27
Solarhybrid Ag Q3 EUR - -
Egide Sa Q2 EUR - -
Note: All Estimates are for Full Year
US
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
Mistras Group Inc Q1 USD 0.79 388.96 D
A ugme Techno lo gies Inc Q2 USD (0.04) 16.00 U
Radiant Lo gistics Inc Q4 USD 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. 10 October 2011
What’s Hot & What’s Not
Lloyds Banking -3.4%
4.2% Vedanta Resource
4.1% Wolseley Royal Bk Scotland -3.0%
Glencore -2.4%
3.4% ITV
3.2% Intercontinental British Sky Broacast -2.1%
3.0% Weir Group Barclays -1.9%
Kingfisher Admiral Group -1.7%
3.0%
2.9% ENRC Legal & Gen Grp -1.7%
Man Group Inmarsat -1.6%
2.8%
2.8% Burberry Group RSA Insurance Group -1.6%
2.7% Xstrata Unilever -1.5%
0.0% 1.2% 2.3% 3.5% 4.6% -3.7% -2.8% -1.9% -0.9% 0.0%
Major Movers & Shakers
 Vedanta Resources rallied 4.2%, after the company reported a broad-based production growth.
 Wolseley climbed 4.1%, after Merrill Lynch advised a “Buy” rating on the stock.
 ITV added 3.4%, after Macquarie initiated its coverage on the stock with an “Outperform” rating.
 InterContinental Hotels rose 3.2%, on the back of robust industry data, peer results and an upbeat investor meeting.
 Miners, ENRC and Xstrata advanced 2.9% and 2.7%, respectively, tracking higher base metal prices.
 Banks, Lloyds Banking Group and RBS declined 3.4% and 3.0% respectively, after Moody’s Investors Service cut the ratings on
their debt.
 British Sky Broadcasting Group dropped 2.1%, ahead of its first-quarter results next week.
 Admiral Group lost 1.7%, after its peer, RBS, outlined plans to bolster its capital buffers against future claims.
5 From The Floor Refer to the last page for disclaimer

6. 10 October 2011
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6 From The Floor