Uneak White's Personal Brand Exploration Presentation
From thefloor 22september11
1. From The Floor
22 September 2011
Key Global Indices
UK Market Snapshot
Last 1D % 5D % 1M% 1Y%
Cl ose Chg Chg Chg Chg UK markets retreated sharply, led by a decline in commodity sector stocks,
FTSE 100 5,288.4 -1.4% 1.2% 3.8% -5.2% amid persistent investor worries over the debt situation in Europe.
DJSTOXX 50 2,117.6 -1.8% 0.5% -1.2% -17.0% Antofagasta, the biggest laggard on the FTSE 100 index, tumbled 6.9%,
FTSEurofirst 300 918.1 -1.7% 0.5% 0.1% -15.2% while Glencore International, BHP Billiton, and Xstrata declined between
German DAX 30 5,433.8 -2.5% 1.8% -0.7% -13.4%
3.4% and 3.7%, tracking a sharp dive in base metal prices, amid worries over
French CAC 40 2,935.8 -1.6% -0.5% -3.8% -22.4%
demand prospects. Among the key losers, energy stocks, BP and Cairn
Russia RTS Index 1,518.6 -1.1% -3.3% -3.8% 2.7%
S&P 500 1,166.8 -2.9% -1.8% 3.8% 2.4%
Energy lost 2.5%, each, while Royal Dutch Shell and Tullow Oil lost 2.0% and
Dow Jones Industrials 11,124.8 -2.5% -1.1% 2.5% 3.4%
2.5%, respectively, as crude oil futures fell. Inmarsat retreated 2.6%, as
Nasdaq Composite 2,538.2 -2.0% -1.3% 8.2% 8.0% Morgan Stanley cut its ratings on the stock to “Underweight” from “Equal
Brazil Bovespa 55,981.9 -0.7% -0.5% 6.8% -17.3% Weight”. Brewer, SABMiller shed 1.6%, after it agreed to buy Foster‟s Group
Nikkei 225* 8,553.5 -2.1% 2.6% 1.3% -9.0% for an increased price of A$9.9 billion. FTSE 100 shed 1.4% or 75.3 points to
Shanghai Composite* 2,469.4 -1.7% 1.1% -0.1% -3.0% settle at 5,288.4. The FTSE 250 edged lower 0.4% or 42.6 points to 10,266.0.
Sensex* 16,809.8 -1.5% 2.1% 4.4% -14.7%
*Time - BST 5:10:08 AM
European Market Snapshot
Other European markets closed in the negative territory yesterday, led by
5,370 losses in automobile and banking sector stocks, after Greek officials
announced that the three days of consultations failed to produce a solution
5,344 to the country‟s debt crisis. Banking stocks, Societe Generale, Deutsche Bank
and Credit Agricole, dropped between 1.3% and 2.4%, as risk aversion
5,318 increased among investors. Deutsche Bank also paced declines, after its CFO
Stefan Krause stated that the bank is “fighting” to meet earnings estimates.
5,291 Automobile stocks, Peugeot, Daimler and BMW, lost between 2.7% and
5.7%, amid fears that the slowdown in global economy would drive sales
5,265 lower, while Fiat slumped 6.2%, after Moody‟s Investors Service downgraded
8:00 9:45 11:30 13:15 15:00 16:35
its corporate debt rating. Lufthansa tumbled 5.0%, after Deutsche Bank
downgraded the stock to “Sell” from “Hold”. FTSEurofirst 300 index declined
1.7% or 16.1 points to 918.1. German DAX Xetra 30 fell 2.5% or 137.9 points
11,450 to 5,433.8. French CAC-40 eased 1.6% or 48.2 points to 2,935.8.
11,363 US Market Snapshot
US markets plunged yesterday, after the Federal Reserve stated that
11,275
economic outlook remained gloomy with “significant downside risks”, even
as it announced a $400 billion debt-swap program, dubbed as “Operation
11,188
Twist”. Among banking stocks, Wells Fargo, Citigroup and Bank of America
tumbled between 3.9% and 7.5%, after Moody‟s Investors Service lowered its
11,100
9:30 10:45 12:00 13:15 14:30 15:45 debt ratings on these banks. Among coal producers, Alpha Natural
Resources, the top laggard on the S&P 500 index, tumbled 17.2%, after it
trimmed its 2011 shipment guidance, while Walter Energy slid 11.7%, after it
lowered its sales forecast for the second half of this year. Research In Motion
8,640
slumped 5.2%, as Jefferies cut its price target on the stock. Freeport-
McMoRan Copper & Gold slipped 7.7%, after it indicated that ongoing
8,615
month-long strike in Indonesia would hurt its current-quarter sales estimates.
DJIA tumbled 2.5% to close at 11,124.8. NASDAQ plunged 2.0% to settle at
8,590
2,538.2. S&P 500 slumped 2.9% to end at 1,166.8.
8,565
Asian Market Snapshot
8,540
9:00 9:45 10:30 11:15 13:00
Asian markets are trading lower this morning, as banks and exporters
recorded losses, after the US Federal Reserve highlighted “significant
downside risks” to the US economy and Moody‟s Investors Service cut credit
Manoj Ladwa 0207 392 1487
ratings on three US banks. In Japan, banks, Daiwa Securities, Mitsubishi UFJ
Index and Equity Desk 0207 392 1479
Financial and Nomura Holdings, paced declines, after BNP Paribas stated that
Institutional Equities 0207 392 1477 the Japanese banking industry was “Deteriorating”. Softbank lost value,
Commodities 0207 392 1403 following report that it would lose its position as the exclusive provider of
Options 0207 392 1472 Apple‟s iPhone in Japan. In Hong Kong, energy stocks, PetroChina, China
Currencies 0207 392 1455 Petroleum & Chemical and China Shenhua paced losses, on news that the
Internet Dealing Desk 0207 392 1434
Chinese government would levy a resources tax. In South Korea, oil stocks, S-
Oil and SK Innovation, traded lower, tracking lower crude oil prices. Nikkei
225 index is trading 2.1% lower, at 8,553.5. Hang Seng index is 4.0% lower,
at 18,076.2, while the Kospi index is trading 3.5% lower, at 1,788.7.
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. 22 September 2011
Commodities
88.0
1820.0 9,090 2,370
87.0 1807.5 8,865 2,340
$/ M T
$/ b b l
8,640 2,310
$ /OZ
86.0 1795.0
8,415 2,280
85.0
1782.5
8,190 2,250
84.0
0:00 5:30 11:00 16:30 22:40 1770.0 7-Sep 12-Sep 15-Sep 20-Sep
0:00 5:40 11:20 17:00 23:30 Copper - LHS Aluminium - RHS
In Asia, crude oil for October delivery is trading 2.0% or $1.65 lower at $84.27 per barrel. Yesterday, crude oil for November
delivery settled 1.2% or $1.0 lower to settle at $85.92 per barrel, amid worries over future energy demand prospects, as the US
Federal Reserve stated that there were “significant downside risks” to the US economy, and after Moody‟s Investors Service
downgraded Wells Fargo to „A2‟ from „A1‟ and Bank of America to „Baa1‟ from „A2‟.
Gold for immediate delivery is trading 0.5% higher today, at $1,776.26 per ounce. Gold for December delivery declined 0.1% or
$1.0 to end at $1,808.10 per ounce yesterday, as the dollar rose against the major currencies, decreasing the demand for the
precious metal as a hedge against inflation. The gold also paced losses after the Federal Reserve announced a plan to swap
shorter-maturity government securities for longer-dated ones to boost the slow-moving US economy.
Currencies
1.1490 1.5790 1.3800
1.1455 1.5700 1.3733
1.1420 1.5610 1.3665
1.1385 1.5520
1.3598
1.1350 1.5430
1.3530
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% lower against the USD at $1.5453, marginally down against the EUR at €1.1413,
and 0.1% lower against the JPY at ¥ 118.692, after Bank of England officials stated that they might need to buy more bonds to
keep borrowing costs capped as the recovery falters. The GBP also lost value following report that showed consumer
confidence dropped to a four-month low in August.
The EUR is trading 0.3% lower against the USD at $1.3538, after Greek officials stated that three days of meetings with other
country officials failed to produce a solution to the country‟s debt crisis, mounting concerns about European economy, and
forcing investors to invest in safe haven assets.
The EUR is trading 0.1% lower against the JPY at ¥103.980, as Asian markets traded sharply lower, decreasing the demand for
high yielding assets.
The USD is trading higher against the JPY, after the Federal Reserve lowered only long-term borrowing costs, and amid fears
that the Bank of Japan might act to cap gains in the yen.
Yesterday, the USD closed higher against the EUR, after the Federal Reserve announced that it would swap shorter-term
Treasuries for securities with longer maturities, to fasten the US economic growth and to stabilise the housing sector.
The CAD ended lower against the USD, after the US Federal Reserve cited “significant downside risks” to the economy,
decreasing the demand for high yielding assets.
2 From The Floor Refer to the last page for disclaimer
3. 22 September 2011
Key Economic Releases Today
Country BST E c onomi c Indi c a tor Conse nsus P re vi ous Fre que nc y
UK 11:00 CBI Trends Selling Prices (Sep) 7.00 9.00 Monthly
UK 11:00 CBI Trends Total Orders (Sep) -5.00 1.00 Monthly
Germany 8:30 Purchasing Manager Index Manufacturing (Sep) 50.50 50.90 Monthly
Germany 8:30 Purchasing Manager Index Services (Sep) 50.50 51.10 Monthly
France 8:00 Purchasing Manager Index Services (Sep) 54.20 56.80 Monthly
France 8:00 Purchasing Manager Index Manufacturing (Sep) 48.50 49.10 Monthly
Eurozone 9:00 Purchasing Manager Index Composite (Sep) 49.80 50.70 Monthly
Eurozone 9:00 Purchasing Manager Index Manufacturing (Sep) 48.50 49.00 Monthly
Eurozone 9:00 Purchasing Manager Index Services (Sep) 51.00 51.50 Monthly
Eurozone 10:00 Industrial New Orders s.a. (MoM) (Jul) -1.20% -0.90% Monthly
Eurozone 15:00 Consumer Confidence (Sep) -18.00 -16.50 Monthly
US 13:30 Initial Jobless Claims (W/E) 420.00 K 428.00 K Weekly
US 13:30 Continuing Jobless Claims (W/E) 3720.0 K 3726.0 K Weekly
US 14:45 Bloomberg Consumer Comfort (W/E) - -49.30 Weekly
US 15:00 Housing Price Index (MoM) (Jul) 0.20% 0.90% Monthly
US 15:00 Leading Indicators (MoM) (Aug) 0.10% 0.50% Monthly
US 15:30 EIA Natural Gas Storage Change (W/E) - 87.00 BCF Weekly
Canada 13:30 Retail Sales (MoM) (Jul) -0.30% 0.70% Monthly
Canada 13:30 Retail Sales Excluding Autos (MoM) (Jul) 0.20% -0.10% Monthly
Japan 6:00 SuperMarket Sales (YoY) (Aug) - 2.10% Monthly
Re a l G D P - YoY CP I - YoY 10 Ye a r Bond Yi e l d 22.00
UK 0.7% 4.5% 2.3%
US 1.6% 3.6% 1.9% 14.25
Japan -1.0% 0.2% 1.0%
6.50
France 1.6% 2.2% 2.5%
Germany 2.7% 2.4% 1.8%
-1.25
Brazil 3.1% 7.2% 4.0%
Russia 3.4% 9.0% 6.0% -9.00
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. 22 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)
Songbird Estates Interim GBP 3.41 262.00
Hansard Global Prelim GBP 14.18 113.74
Sinclair Is Pharma Plc Prelim GBP 0.85 49.75
Energetix Group Plc Interim GBP - -
Altitude Group Plc Interim GBP - -
Vitesse Media Plc Interim GBP - -
Note: All Estimates are for Full Year
Assura Group Ltd., Euromoney Institutional Investor, TUI Travel, United Utilities Group
Atlantis Japan Growth Fund Ltd., Betfair Group, Cobra Holdings, Conexion Media Group, CSF Group, Fulcrum Utility
Services Ltd. (DI), Micro Focus International Plc, New India Inv Trust, NWF Group, Thames River Multi Hedge PCC Ltd.
Realisation Shares, Tricorn Group, VietNam Holding Ltd., Zoo Digital Group, Adept Telecom Plc, Supergroup Plc
Brewin Dolphin Holdings, Hochschild Mining, Prudential, Total SA, Virgin Media Inc.
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)
Origin Enterprises Plc Prelim EUR 0.42 1,144.03
Rougier Sa Q2 EUR 2.71 150.97
Afone Sa Q2 EUR 1.02 93.20
Sa Esker Q2 EUR 0.34 35.20
Newlead Holdings Ltd Q1 USD - -
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
Fedex Corp Q1 USD 6.47 42,580.00 D
Rite Aid Corp Q2 USD (0.50) 25,670.00 U
Nike Inc Q1 USD 4.83 23,120.00 D
Carmax Inc Q2 USD 1.88 10,100.00 B
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. 22 September 2011
What’s Hot & What’s Not
Antofagasta -6.9%
5.6% Lloyds Banking Group
2.7% Essar Energy Ashmore Group -4.5%
Rio Tinto -4.2%
1.3% National Grid
1.3% Royal Bank of Scotland Aviva -4.1%
1.2% Intertek Group BHP Billiton -3.9%
Land Securities Group Xstrata -3.7%
0.9%
0.8% Experian Glencore International -3.4%
Tate & Lyle ENRC -3.4%
0.8%
0.7% Capita Group Compass Group -3.3%
0.6% Rolls-Royce Group International Power -2.7%
0.0% 1.5% 3.1% 4.6% 6.1% -7.4% -5.6% -3.7% -1.9% 0.0%
Major Movers & Shakers
Lloyds Banking Group soared 5.6%, after the Financial Times reported that the firm was planning sell a portfolio of commercial
property loans worth around £1.0 billion.
RBS gained 1.3%, following report that the bank has received bids for its aircraft- leasing operation from commercial lender CIT
Group and Jackson Square Aviation LLC.
Miners, Antofagasta, Rio Tinto and ENRC, tumbled between 3.4% and 6.9%, tracking lower base metal prices.
Inmarsat dropped 2.6%, after both Morgan Stanley and Citigroup downgraded the stock, citing valuation concerns.
5 From The Floor Refer to the last page for disclaimer
6. 22 September 2011
Disclaimer
This e-mail, including its contents and any attachments are confidential. Please delete this email and notify the sender
immediately, if you are not the named recipient. You should not copy it for any purpose or disclose its contents to any other
parties. 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 and
should not be relied on. E-mail transmission cannot be guaranteed to be secure or free from errors. The sender therefore does
not 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 to
carry out your own virus checks on any attachment to this message. We make no representation or warranty as to the absence
of viruses in this e-mail or any attachments. In order to protect our customers and business and comply with our regulatory
requirements, 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 1494
ETX Capital is a trading name of Monecor (London) Limited which is registered in England at Beaufort House, 15 St Botolph
Street, 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