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

1. From The Floor
27 September 2011
Key Global Indices
UK Market Snapshot
Last 1D % 5D % 1M% 1Y%
Cl ose Chg Chg Chg Chg  UK markets closed higher, amid hopes of action by European leaders to ease
FTSE 100 5,089.4  0.4% -3.2% -0.8% -8.7% burden of the unfolding contagion risk. Barclays, the top gainer on the FTSE
DJSTOXX 50 2,094.1  2.1% -1.1% -2.2% -17.1% 100, surged 6.9%, while Lloyds Banking, Royal Bank of Scotland and Aviva,
FTSEurofirst 300 897.6  1.7% -2.0% -2.3% -16.4% added between 3.2% and 6.4%, amid reports of expansion of European
German DAX 30 5,345.6  2.9% -1.3% -3.5% -14.9%
Financial Stability Facility, and on expectations that the European Central
French CAC 40 2,859.3  1.8% -2.7% -7.4% -24.1%
Bank might cut its interest rate. Retailer, Tesco gained 1.7%, as US billionaire
Russia RTS Index 1,315.3  -0.1% -13.8% -17.6% -11.6%
S&P 500 1,163.0  2.3% -3.4% -1.2% 1.8%
Warren Buffett, hiked his stake in the company from 3.2% to 3.6%.
Dow Jones Industrials 11,043.9  2.5% -3.1% -2.1% 2.1%
Prudential added 2.7%, as Deutsche Bank reiterated “Buy” rating on the
Nasdaq Composite 2,516.7  1.3% -3.7% 1.5% 6.2% stock. Aberdeen Asset Management added 0.9%, after it forecasted that its
Brazil Bovespa 53,747.5  1.0% -5.9% 0.7% -21.9% pre-tax profit for the year would be at the top end of analyst forecasts.
Nikkei 225* 8,542.7  2.0% -5.5% -4.8% -12.8% However, gains were limited following losses in commodity sector stocks.
Shanghai Composite* 2,400.4  0.3% -1.8% -8.4% -8.9% FTSE 100 added 0.5% to 5,089.4. FTSE 250 edged up 0.2% to 9,839.2.
Sensex* 16,331.8  1.7% -4.1% 1.3% -20.2%
*Time - BST 5:03:22 AM
European Market Snapshot
 Other European markets closed higher yesterday, led by a sharp rise in
5,152 banks, following report that Germany’s business confidence fell less-than-
expected, and after the IMF stated that it was ready to support European
5,113 nations in their efforts to prevent the escalation of the Eurozone debt crisis.
Banking stocks, Deutsche Bank, BNP Paribas and Intesa Sanpaolo, surged
5,074 between 4.0% and 8.7%, as risk aversion decreased among investors, amid
lingering optimism that the ECB would announce an interest rate cut this
5,035 week, while Dexia advanced 6.6%, following report that it would sell €20
billion of bond assets to continue as a viable business. Bayer rallied 4.3%,
4,996
8:00 9:45 11:30 13:15 15:00 16:35
after the company reported that its experimental drug for men with
prostate cancer cut death risks by 30%. FTSEurofirst 300 index added 1.8% or
15.4 points to settle at 897.6. German DAX Xetra 30 rose 2.9% or 149.0
points to 5,345.6. French CAC-40 climbed 1.8% or 49.2 points to 2,859.3.
11,070
10,990
US Market Snapshot
 US markets rallied yesterday, amid optimism that policy makers would act co-
10,910 ordinately to alleviate European debt crisis and shore up European banks.
Consol Energy, the top gainer on the S&P 500 index, surged 9.0%, after it
10,830 sold about 7% in royalty interests in some Marcellus Shale acreage to
privately held Antero Resources Appalachian Corp. for $193 million. JP
10,750 Morgan, the top gainer on DJIA, rose 7.0%, while Bank of America and
9:30 10:45 12:00 13:15 14:30 15:45 Citigroup rallied 4.6% and 7.0%, respectively, amid expectations that the
European Central Bank would cut rates and purchase covered-bonds. Boeing
rallied 4.2%, after successful completion of delivery of the first 787
8,548 Dreamliner jet to Japan’s All Nippon Airways. Re-insurer, Berkshire
Hathaway’s class B-share rallied 8.6%, after its board approved share buy-
8,533 back programme. DJIA jumped 2.5% or 272.4 points to 11,043.9. NASDAQ
gained 1.4% or 33.5 points to 2,516.7. S&P 500 climbed 2.3% to 1,163.0.
Asian Market Snapshot
8,518
8,503
 Asian markets are trading higher this morning, led by a rally in banking
8,488
sector stocks, on hopes that European leaders might agree on measures to
9:00 9:45 10:30 11:15 13:00 prevent the escalation of the region’s debt crisis. In Japan, financial stocks,
Daiwa Securities Group, Sumitomo Mitsui Financial and Fukuoka Financial,
traded higher, tracking gains in their US and European peers. Metal sector
Manoj Ladwa 0207 392 1487 stocks, Sumitomo Metal Mining and Mitsui Mining & Smelting traded higher,
Index and Equity Desk 0207 392 1479 in line with higher copper prices. In Hong Kong, Ping An Insurance gained
Institutional Equities 0207 392 1477 value, after the company announced that its major shareholders did not
Commodities 0207 392 1403
reduced their stakes in the firm. Anhui Conch Cement paced gains, following
Options 0207 392 1472
report that the Chinese government would expand trials for subsidies to
Currencies 0207 392 1455
Internet Dealing Desk 0207 392 1434
rural households using construction materials. In South Korea, exporters, Kia
Motors, Hyundai Motor and Samsung Electronics traded higher, reversing
their earlier session losses, as global economy strengthened. Nikkei 225 index
is trading 2.0% higher, at 8,542.7. Hang Seng index is 2.5% higher, at
17,848.0, while the Kospi index is trading 4.2% higher, at 1,722.0.
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. 27 September 2011
Commodities
82.6
1670.0 9,090 2,370
81.2 1637.5 8,568 2,315
$/ M T
$/b b l
8,045 2,260
$ /OZ
79.7 1605.0
7,523 2,205
78.3
1572.5
7,000 2,150
76.8
0:00 5:30 11:00 16:30 22:40 1540.0 12-Sep 15-Sep 20-Sep 23-Sep
0:00 5:40 11:20 17:00 23:40 Copper - LHS Aluminium - RHS
 In Asia, crude oil for November delivery is trading 2.1% or $1.7 higher at $81.95 per barrel. Yesterday, crude oil for November
delivery added 0.5% or $0.39 to $80.24 per barrel, as worries over demand prospects eased, after the Germany’s business
confidence fell less-than-expected, and amid optimism that European policy makers would step up measures to resolve
sovereign credit crisis.
 Gold for immediate delivery is trading 1.6% higher today, at $1,645.16 per ounce. Gold for December delivery declined 2.7% or
$45 to end at $1,594.80 per ounce yesterday, after CME Group hiked margin requirements for gold future contracts.
Currencies
1.1560 1.5605 1.3580
1.1533 1.5559 1.3523
1.1505 1.5513 1.3465
1.1478 1.5466
1.3408
1.1450 1.5420
1.3350
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 trading 0.2% higher against the USD at $1.5587, 0.2% lower against the EUR at €1.1498, and
0.1% higher against the JPY at ¥118.93.
 The EUR is trading 0.5% higher against the USD at $1.3557, after European leaders and IMF stated that they would support
European nations in their efforts to prevent the escalation of the region’s debt crisis, increasing demand for higher-yielding
assets.
 The EUR is trading 0.3% higher against the JPY at ¥103.437, as the demand of the high yielding currencies increased, after most
of the Asian markets traded higher.
 The AUD and NZD are trading higher against the USD, as higher commodity prices increased the demand for the commodity
linked currencies.
 Yesterday, the GBP ended higher against the EUR, amid uncertainty over whether Greece would receive its next round of
emergency bailout package, and after Bank of England’s committee member, Ben Broadbent, stated that the country’s
inflation expectations remained under control.
 The CAD and EUR closed lower against the USD, amid concerns that European policy makers would fail to a resolve European
sovereign-debt crisis, decreasing demand for riskier assets.
2 From The Floor Refer to the last page for disclaimer

3. 27 September 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 11:00 CBI Reported Sales (Sep) -15.00 -14.00 Monthly
Germany 7:00 GfK Consumer Confidence Survey (Oct) 5.00 5.20 Monthly
Eurozone 9:00 M3 Money Supply (3M) (Aug) 2.00% 2.10% Monthly
Eurozone 9:00 M3 Money Supply (YoY) (Aug) 2.00% 2.00% Monthly
Switzerland 7:00 UBS Consumption Indicator (Aug) - 1.29 Monthly
Switzerland 10:30 KOF Institute Economic Forecast (Sep) - - -
US 14:00 S&P/CS 20 City s.a. (MoM) (Jul) 0.10% -0.10% Monthly
US 14:00 S&P/Case-Shiller Composite-20 (YoY) (Jul) -4.50% -4.52% Monthly
US 14:00 S&P/Case-Shiller Home Price Index (Jul) - 141.30 Monthly
US 15:00 Consumer Confidence (Sep) 46.00 44.50 Monthly
US 15:00 Richmond Fed Manufacturing Index (Sep) -12.00 -10.00 Monthly
Fed's Lockhart Speaks on Economy in Jacksonville,
US 17:30 - - -
Florida
Japan - Small Business Confidence (Sep) - 46.40 Monthly
Japan 0:50 Corporate Service Price (YoY) (Aug) -0.40%* -0.30% Monthly
Re a l G D P - YoY CP I - YoY 10 Ye a r Bond Yi e l d 475.00
UK 0.7% 4.5% 2.3%
US 1.6% 3.6% 1.9% 418.75
Japan -1.0% 0.2% 1.0%
362.50
France 1.6% 2.2% 2.5%
Germany 2.7% 2.4% 1.8%
306.25
Brazil 3.1% 7.2% 4.0%
Russia 3.4% 9.0% 6.0% 250.00
Sep-09
Nov-09
Jan-10
Mar-10
May-10
Jul-10
Sep-11
Nov-11
Jan-11
Mar-11
May-11
Jul-11
India 7.7% 8.4% 8.3%
China 9.7% 6.2% 4.1%
3 From The Floor Refer to the last page for disclaimer

4. 27 September 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 P S E sti ma te d Re ve nue (Mn)
Game Group Plc Interim GBP 5.10 1,587.52
Close Brothers Group Plc Prelim GBP 79.52 588.36
AG Barr Plc Interim GBP 63.90 233.50
CVS Group Plc Prelim GBP 14.18 103.50
Albemarle & Bond Hldg Plc Prelim GBP 29.47 95.92
Augean Plc Interim GBP 0.75 36.50
Note: All Estimates are for Full Year
Topps Tiles, Daily Mail and General Trust Plc
Absolute Return Trust Ltd (GBP Shares), DQ Entertainment, Impact Holdings, OPG Power Ventures
NB Global Floating Rate Income Fund Ltd (GBP), NB Global Floating Rate Income Fund Ltd (USD), Scotty Group
Bloomsbury Publishing
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)
Danieli & C Officine Meccaniche Spa Prelim EUR 2.39 3,223.56
Neopost Sa Q2 EUR 4.94 994.68
Sqli Sa Q2 EUR 0.11 176.30
Vision It Group Sa Q2 EUR - -
Budget Telecom 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
Walgreen Co Q4 USD 2.99 75,490.00 D
Accenture Public Ltd Co Q4 USD 3.78 27,540.00 D
Jabil Circuit Inc Q4 USD 2.41 17,660.00 D
Synnex Corp Q3 USD 3.71 10,390.00 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. 27 September 2011
What’s Hot & What’s Not
Fresnillo -6.9%
6.9% Barclays
6.4% Legal and General Group Kazakhmys -3.9%
Vedanta Resources -3.9%
6.4% Aviva
4.9% Admiral Group Randgold Resources Ltd -2.8%
4.4% Associated British Foods Ashmore Group -2.8%
Resolution Ltd GKN -2.6%
3.9%
3.6% Weir Group Burberry Group -2.4%
Intl Consolidated Airlines Group Antofagasta -2.2%
3.5%
3.3% International Power Essar Energy -1.9%
3.2% Royal Bank of Scotland Johnson Matthey -1.9%
0.0% 1.9% 3.8% 5.6% 7.5% -7.5% -5.6% -3.8% -1.9% 0.0%
Major Movers & Shakers
 Banking stocks, Barclays and RBS, surged 6.9% and 3.2%, as risk appetite increased among investors.
 Insurers, Legal & General Group Aviva and Admiral Group, soared between 4.9% and 6.4%, benefitting from a recovery in the
equity markets. Aviva also paced gains after Investec Securities sidelined fears of a dividend cut.
 Precious metal stocks, Fresnillo and Randgold Resources, plummeted 6.9%% and 2.8% respectively, tracking lower silver and
gold prices.
 Miners, Kazakhmys, Vedanta resources and Antofagasta, dropped between 2.2% and 3.9%, after CME Group raised margin
requirements for copper-futures contracts.
5 From The Floor Refer to the last page for disclaimer

6. 27 September 2011
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6 From The Floor