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

1. From The Floor
29 September 2011
Key Global Indices
UK Market Snapshot
Last 1D % 5D % 1M% 1Y%
Cl ose Chg Chg Chg Chg  UK markets snapped their winning streak and closed lower yesterday, amid
FTSE 100 5,217.6  -1.4% -1.3% 1.7% -6.5% reports of disagreement between Eurozone members over the bail-out
DJSTOXX 50 2,163.3  -0.8% 2.2% 0.3% -14.1% proposal, and ahead of crucial vote in Germany on expansion of the rescue
FTSEurofirst 300 927.3  -1.2% 1.0% -0.4% -13.4%
fund for Greece. Man Group, the top laggard on the FTSE 100 index,
German DAX 30 5,578.4  -0.9% 2.7% -1.6% -11.1%
plunged 24.9%, after it reported a sharp decline in its AUM over the second
French CAC 40 2,995.6  -0.9% 2.0% -5.0% -20.4%
Russia RTS Index 1,367.4  -0.2% -10.0% -18.0% -7.8%
quarter. Banks, Barclays, HSBC, Lloyds Banking and Royal Bank of Scotland,
S&P 500 1,151.1  -2.1% -1.3% -4.9% 0.3% declined between 1.2% and 3.6%, as risk aversion rose. Cairn Energy slid
Dow Jones Industrials 11,010.9  -1.6% -1.0% -4.6% 1.4% 6.5%, after it reported a disappointing drilling result in Greenland. Miners,
Nasdaq Composite 2,491.6  -2.2% -1.8% -2.8% 4.7% Anglo American, Vedanta Resources and Antofagasta, shed between 3.5%
Brazil Bovespa 53,270.4  -1.2% -4.8% -2.9% -23.1% and 5.9%, as base metal prices fell. FTSE 100 slumped 1.4% or 76.4 points to
Nikkei 225* 8,630.1  0.2% -1.4% -2.7% -9.3%
close at 5,217.6. FTSE 250 slipped 0.9% or 88.5 points to settle at 10,038.7.
Shanghai Composite* 2,372.3  -0.8% -4.8% -7.2% -8.4%
Sensex*
*Time - BST
16,373.0  -0.4% -3.6%
6:24:33 AM
0.2% -18.2%
European Market Snapshot
FTSE 100 Intraday  Other European markets closed in the negative territory yesterday, amid
fears that Greek bonds holders would suffer higher-than-expected losses,
5,310
following reports that seven of the 17 Eurozone members were petitioning
for private creditors to take a reduction in the redemption value of bonds.
5,280
Banking stocks, BNP Paribas, Deutsche Bank and and Credit Agricole, shed
between 0.3% and 5.0%, as risk appetite decreased among investors.
5,250
Technology stocks, Q-Cells, Solarworld and SMA Solar Technology, tumbled
between 6.6% and 10.2%, after German power grid regulator
5,220
Bundesnetzagentur reported a 69.0% drop in new solar-panels’ addition.
5,190
Deutsche Boerse plummeted 4.6%, after EU proposed a financial-transactions
8:00 9:45 11:30 13:15 15:00 16:35 tax on all EU member states. Shares of PSA Peugeot Citroen and Clariant
came under pressure, following broker downgrades. FTSEurofirst 300 index
DJIA Intraday fell 1.2% to 927.3. German DAX Xetra 30 declined 0.9% or 50.0 points to
5,578.4. French CAC-40 edged down 0.9% or 27.8 points to 2,995.6.
11,310
11,230
US Market Snapshot
 US markets fell yesterday, dragged down by a loss in commodity sector
11,150
stocks, amid reports of a rift between European nations to chalk out a plan
to resolve the debt crisis. Coal miner, Alpha Natural Resource emerged as the
11,070
top laggard on the S&P 500 index, losing 11.0%, while Peabody Energy lost
8.0%, as metallurgical coal price fell. Cliffs Natural Resources lost 8.4%,
10,990
9:30 10:45 12:00 13:15 14:30 15:45
following its decision to shut down and sell a biomass production plant, and
incur a cost of $30 million before taxes in the third quarter. Bank of America,
Nikkei Intraday the top laggard on the DJIA, lost 4.9%, while JPMorgan, KeyCorp and
Citigroup declined between 3.5% and 4.0%, as Goldman Sachs cut its price
8,642
target on a slew of banks. Freeport-McMoRan Copper & Gold lost 7.2%, as
gold and copper prices declined. First Solar slumped 10.4%, amid concerns
8,608
about its sources of finance for new projects, as its revenue exposure is
8,574
highly Europe oriented. DJIA lost 1.6% or 179.8 points to 11,010.9. NASDAQ
shed 2.2% or 55.3 points to 2,491.6. S&P 500 fell 2.1% to 1,151.1.
8,539
Asian Market Snapshot
8,505
9:00 9:45 10:30 11:15 13:00 13:45
 Asian markets are trading higher this morning, ahead of German vote on
euro rescue. In Japan, Mitsubishi UFJ Financial traded higher, on hopes that
Contact Details German vote will ease concerns about the global financial system. However,
Manoj Ladwa 0207 392 1487 gains were limited, due to losses in energy stocks, Inpex, JX Holdings and
Index and Equity Desk 0207 392 1479 Japan Petroleum Exploration, following a fall in crude oil prices. Commodity
Institutional Equities 0207 392 1477 trading stock, Mitsubishi, traded lower, as oil and metal prices retreated.
Commodities 0207 392 1403 Utility, Tokyo Electric lost value, following report that the company has
Options 0207 392 1472
promised not to seek debt relief from banks. In South Korea, the Kospi index
Currencies 0207 392 1455
Internet Dealing Desk 0207 392 1434
traded higher, as gains in Samsung Electronics led technology shares higher.
Nikkei 225 index is trading 0.2% higher, at 8,630.1. Kospi index is trading
We are also available on: 2.2% higher, at 1,760.7. Hong Kong markets are closed on account of
Typhoon Nesat hitting the city.
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. 29 September 2011
Commodities
Energy - Light Crude Oil Spot Precious Metals - Gold Spot LME Copper & Aluminium Spot—2Week
85.0
1670.0 9,090 2,370
83.6 1647.5 8,568 2,315
$/ M T
8,045 2,260
$/ b b l
$ /OZ
82.3 1625.0
7,523 2,205
80.9
1602.5
7,000 2,150
79.5
0:00 5:30 11:00 16:30 22:40 1580.0 14-Sep 19-Sep 22-Sep 27-Sep
0:00 5:40 11:20 17:00 23:40 Copper - LHS Aluminium - RHS
 In Asia, crude oil for November delivery is trading marginally higher at $81.22 per barrel. Yesterday, crude for November
delivery dropped 3.8% or $3.24 to end at $81.21 per barrel, after the EIA report showed that the US commercial crude oil
inventories increased by 1.9 million barrels during the week ended 23 September, and amid concerns that a slowdown in global
economy would curb future energy demand. The oil price also came under pressure, as the rise in dollar decreased the demand
for the commodities as an alternative investment.
 Gold for immediate delivery is trading 1.3% higher today, at $1,609.1 per ounce. Gold for December delivery declined 2.1% or
$34.40 to settle at $1,618.10 per ounce yesterday, as investors took advantage of previous session gains and preferred to book
profits. The gold also paced decline, as the dollar rose against the major currencies, decreasing the demand for the precious
metal as a hedge against inflation.
Currencies
GBP/EUR Movement GBP/USD Movement EUR/USD Movement
1.1540 1.5695 1.3690
1.1513 1.5654 1.3645
1.1485 1.5613 1.3599
1.1458 1.5571
1.3554
1.1430 1.5530
1.3508
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 0.3% higher against the USD at $1.5599, 0.1% lower against the EUR at €1.1492, and
0.3% higher against the JPY at ¥119.40.
 The EUR is trading 0.4% higher against the USD at $1.3574. The currency is trading 0.3% higher against the JPY at ¥103.90.
 The EUR is trading higher against the USD and JPY, ahead of German lawmakers’ vote on changes to a European bailout fund,
on optimism that German Chancellor Angela Merkel would gather enough support from policy-makers on the European
Financial Stability Facility.
 Yesterday, the EUR ended lower against the USD and JPY, amid fears that European policy makers would fail to agree on a
plan to prevent the spreading of the Eurozone debt crisis to other European countries, damping the demand for high yielding
assets.
 The CAD closed lower against the USD, on concern that the European debt crisis would hamper global economic growth and
would have effect on country’s export revenue.
2 From The Floor Refer to the last page for disclaimer

3. 29 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 7:00 Nationwide House Prices s.a. (MoM) (Sep) 0.00% -0.60% Monthly
UK 7:00 Nationwide House Prices n.s.a. (YoY) (Sep) -0.50% -0.40% Monthly
UK 9:30 Mortgage Approvals (Aug) 49.50 K 49.20 K Monthly
UK 9:30 M4 Money Supply (MoM) (Aug) 0.30% -0.10% Monthly
Germany 8:55 Unemployment Change (Sep) -8.00 K -8.00 K Monthly
Germany 8:55 Unemployment Rate (Sep) 7.00% 7.00% Monthly
Eurozone 10:00 Consumer Confidence (Sep) -18.90 -16.50 Monthly
Eurozone 10:00 Economic Confidence (Sep) 96.00 98.30 Monthly
Eurozone 10:00 Industrial Confidence (Sep) -5.00 -2.90 Monthly
US 7:50 Fed's Rosengren Speaks on Bank Regulation in Stockholm - - -
US 13:30 Gross Domestic Product Annualized (Q2) 1.20% 1.00% Quarterly
US 13:30 Personal Consumption (Q2) 0.40% 0.40% Quarterly
US 13:30 Fed's Plosser Speaks on Economy in Radnor, Pennsylvania - - -
US 13:30 Initial Jobless Claims (W/E) 420.00 K 423.00 K Weekly
US 13:30 Continuing Jobless Claims (W/E) 3730.0 K 3727.0 K Weekly
US 18:00 Fed's Lockhart Speaks in Atlanta - - -
Canada 13:30 Industrial Product Price (MoM) (Aug) -0.40% -0.30% Monthly
Canada 13:30 Raw Materials Price Index (MoM) (Aug) -1.30% -1.20% Monthly
Japan 0:50 Large Retailers' Sales (Aug) -2.60%* 0.80% Monthly
Japan 0:50 Retail Trade s.a. (MoM) (Aug) -1.70%* -0.30% Monthly
Global Economic Matrix US Durable Goods Orders Fell 0.1% in August
Re a l G D P - YoY CP I - YoY 10 Ye a r Bond Yi e l d 0.06
UK 0.7% 4.5% 2.3%
0.04
US 1.6% 3.6% 1.9%
Japan -1.0% 0.2% 1.0% 0.02
France 1.6% 2.2% 2.5% 0.00
Germany 2.7% 2.4% 1.8%
-0.02
Brazil 3.1% 7.2% 4.0%
Russia 3.4% 9.0% 6.0% -0.04
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% 8.4% 8.3%
China 9.7% 6.2% 4.1%
3 From The Floor Refer to the last page for disclaimer

4. 29 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)
GVC Holdings Interim GBP 0.21 61.09
Group NBT Plc Final GBP 29.40 55.50
SciSys Interim GBP 5.09 44.65
Zamano Plc Interim GBP 0.01 16.27
Atlantic Global Plc Interim GBP 1.40 2.00
Sound Oil Plc Interim GBP - -
Note: All Estimates are for Full Year
Trading Announcements
Compass Group, FirstGroup, ICAP, London Stock Exchange Group, Tate & Lyle, Thomas Cook Group
AGMs
Accumuli, AEA Technology Group, Ashcourt Rowan, ASOS, Dhir India Investments, Emerging Metals Ltd. (DI), Fiske,
Gasol, Iomart Group, Max Petroleum, Redstone, Ryanair Holdings, Strathdon Investments, Warner Estate Holdings,
Havelock Europa Plc
Final Dividend Payment Date
Baronsmead VCT, Baronsmead VCT 2, BHP Billiton, Downing Distribution VCT 'D' Shares, Downing Distribution VCT 2,
Fletcher King, Hargreaves Lansdown, Immunodiagnostic Systems Holdings
Interim Dividend Payment Date
Baronsmead VCT 3, Baronsmead VCT 4, Baronsmead VCT 5, Low & Bonar, Reckitt Benckiser Group, Schroders
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)
H&M Hennes & Mauritz Ab Q3 SEK 9.71 111,107.00
Hornbach Holding Ag Q2 EUR 5.02 3,193.23
Hornbach Baumarkt Ag Q2 EUR 2.62 3,015.00
Kaufman & Broad Sa Q3 EUR 1.98 1,077.37
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
Micron Technology Inc Q4 USD 0.56 9,380.00 U
Worthington Industries Inc Q1 USD 1.75 2,580.00 U
Xyratex Ltd Q3 USD 0.87 1,440.00 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. 29 September 2011
What’s Hot & What’s Not
Man Group -24.9%
3.4% BG Group
2.2% Smiths Group Cairn Energy -6.5%
Antofagasta -5.9%
1.5% Capital Shopping Centres Group
0.8% Experian Petrofac Ltd -5.7%
0.6% Capita Group Fresnillo -5.7%
Next Glencore International -4.9%
0.5%
0.4% Scottish & Southern Energy Admiral Group -4.6%
Vodafone Group Weir Group -4.6%
0.3%
0.3% Severn Trent Rio Tinto -4.4%
0.3% Tate & Lyle AMEC -4.2%
0.0% 1.0% 2.0% 2.9% 3.9% -25.4% -19.1% -12.7% -6.4% 0.0%
Major Movers & Shakers
 BG Group rose 3.4%, after Goldman Sachs added the stock to its “Conviction Buy” list.
 Smith Group added 2.2%, after the company announced that its annual profit held steady, as its cost-cutting programs helped
offset “constrained” markets.
 Man Group slumped 24.9%, after the company announced that its assets under management would decline by $6.0 billion.
 Energy stocks, Cairn Energy and Petrofac, tumbled 6.5% and 5.7% respectively, following a fall in crude oil prices.
 Miners, Antofagasta and Rio Tinto, sank 6.0% and 4.4% respectively, as base metal prices declined. Antofagasta also paced
decline, after Goldman Sachs cut the stock to “Neutral”, citing valuation concerns.
 Fresnillo plummeted 5.7%, in line with a fall in silver prices.
 Glencore International slid 4.9%, tracking a fall in crude oil prices.
5 From The Floor Refer to the last page for disclaimer

6. 29 September 2011
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6 From The Floor