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

1. From The Floor
16 September 2011
Key Global Indices
UK Market Snapshot
Last 1D % 5D % 1M% 1Y%
Cl ose Chg Chg Chg Chg  UK markets extended their gains for the third consecutive day, bolstered by
FTSE 100 5,337.5  2.1% -0.1% -0.4% -3.9% banking sector stocks, after the European Central Bank announced the
DJSTOXX 50 2,149.1  2.0% -0.7% -4.7% -16.5% infusion of dollar liquidity in the region. Among financial stocks, Lloyds
FTSEurofirst 300 932.2  2.1% -0.8% -3.8% -14.1% Banking Group, the top gainer on the FTSE 100 index, surged 7.2%, while
German DAX 30 5,508.2  3.1% 1.8% -8.1% -12.0%
HSBC Holdings, Barclays and Royal Bank of Scotland gained between 3.9%
French CAC 40 3,045.6  3.3% -1.3% -5.7% -18.9%
and 4.0%, as worries over the banking sector eased. Additionally, a bullish
Russia RTS Index 1,603.4  2.1% -4.3% -1.8% 8.0%
S&P 500 1,209.1  1.7% 2.0% 1.4% 7.5%
note on the banking sector by Nomura helped in the surge. Retailers,
Dow Jones Industrials 11,433.2  1.7% 1.2% 0.2% 8.1%
Kingfisher and Burberry rallied 4.8% and 6.6%, respectively, as the former
Nasdaq Composite 2,607.1  1.3% 3.1% 3.3% 13.3% reported a 28% increase in first-half net profit and the latter received a boost
Brazil Bovespa 56,381.5  0.2% -2.2% 3.8% -17.2% following news that China might cut taxes on the luxury-goods sector by
Nikkei 225* 8,852.4  2.1% -1.4% -4.8% -8.9% year end. Engineering group, GKN rose 6.1%, after Evolution Securities
Shanghai Composite* 2,489.4  0.4% -0.8% -5.0% -6.5% reiterated its “Buy” rating on the stock. FTSE 100 surged 2.1% to 5,337.5,
Sensex* 17,006.3  0.8% -1.7% 0.9% -13.5% while FTSE 250 soared 2.1% to 10,324.1.
*Time - BST 5:16:07 AM
European Market Snapshot
5,380  Other European markets ended sharply higher yesterday, after Germany and
France reaffirmed that Greece would remain a member of the eurozone,
5,339 and as global central banks announced stimulus measures to ease monetary
tightening conditions in Europe. Banking stocks, BNP Paribas, Credit Agricole
5,297 and Deutsche Bank, rallied between 5.8% and 13.0%, after the European
Central Bank(ECB) stated that it would coordinate with other global central
5,256 banks to lend the US currency to European banks. Luxury-goods makers,
LVMH, Hugo Boss and Richemont, added between 1.2% and 4.7%, following
5,214 a report that China might cut tariff on clothes and leather goods by the end
8:00 9:45 11:30 13:15 15:00 16:35
of the year. ArcelorMittal rose 4.3%, after Citigroup upgraded the stock to
“Buy” from “Hold”. However, banking stock, UBS, tumbled 11.0%, after it
announced a $2.0 billion trading loss. FTSEurofirst 300 index advanced 2.1%
11,450
to 932.2. German DAX Xetra 30 rallied 3.2% to 5,508.2. French CAC-40
added 3.3% to 3,045.6.
11,395
US Market Snapshot
11,340
 US markets rallied yesterday, extending their gains for the fourth consecutive
session, as the ECB announced syndicated central banks action to infuse
11,285
dollar liquidity in the European financial system offsetting a dismal reading
of US weekly jobless claims. JPMorgan Chase and Bank of America climbed
11,230
9:30 10:45 12:00 13:15 14:30 15:45
3.1% and 4.0%, respectively, as worries over the situation in Europe eased.
Insurer, Lincoln National Corp, the top gainer on the S&P 500 index, surged
8.2%, after its second-quarter operating profit surpassed market
expectations. Transcept Pharmaceuticals, the top gainer on NASDAQ, surged
8,860
79.6%, following news that the company would not have to conduct more
trials before resubmitting a marketing application for its insomnia drug. DJIA
8,840
rose 1.7% to 11,433.2. NASDAQ rose 1.3% to 2,607.1. S&P 500 gained 1.7%
to 1,209.1.
8,820
8,800
Asian Market Snapshot
 Asian markets are trading higher this morning, taking cues from strong
8,780
9:00 9:45 10:30 11:15 13:00
overnight gains on Wall Street and other global market. In Japan, exporters,
Toyota Motor, Honda Motor and Canon, paced higher, as the yen
depreciated against the dollar. Optical-equipment maker, Olympus gained
Manoj Ladwa 0207 392 1487
values, after Citigroup initiated coverage on the stock with a “Buy” rating.
Index and Equity Desk 0207 392 1479
Banking stocks, Mitsubishi UFJ, Nomura Holdings and Sumitomo Mitsui
Institutional Equities 0207 392 1477 Financial Group, traded higher as risk aversion decreased among investors. In
Commodities 0207 392 1403 Hong Kong, Southwest Securities paced gains, after the company announced
Options 0207 392 1472 that it would acquire 20.0% stake in a fund management firm. Energy stocks,
Currencies 0207 392 1455 Petrochina and Cnooc traded higher, tracking a rise in crude oil price. In
Internet Dealing Desk 0207 392 1434 South Korea, exporters, Kia Motors, Hyundai Motor and LG Electronics
gained values, amid optimism that global demand would recover. Nikkei 225
index is trading 2.1% higher, at 8,852.4. Hang Seng index is 2.1% higher, at
19,579.7, while the Kospi index is trading 3.5% higher, at 1,836.4.
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. 16 September 2011
Commodities
90.4
1830.0 9,080 2,420
89.8 1812.5 8,960 2,390
$/ M T
$/ b b l
8,840 2,360
$ /OZ
89.1 1795.0
8,720 2,330
88.5
1777.5
8,600 2,300
87.8
0:00 5:30 11:00 16:30 22:10 1760.0 1-Sep 6-Sep 9-Sep 14-Sep
0:00 5:40 11:20 17:00 22:40 Copper - LHS Aluminium - RHS
 In Asia, crude oil for October delivery is trading 0.4% higher at $89.8 per barrel. Yesterday, crude oil for October delivery added
0.6% or $0.49 to settle at $89.40 per barrel, after the ECB announced to provide US dollar loans to banks in coordination with
the US Federal Reserve, the Bank of England, Bank of Japan, and the Swiss National Bank, to avoid liquidity crunch in the
eurozone. Crude oil also gained values, amid expectation of increase in energy demand, after US industrial output rose 0.2% in
August.
 Gold for immediate delivery is trading 1.2% lower today, at $1,765.24 per ounce. Gold for December delivery fell 2.5% or
$45.10 to end at $1,781.40 per ounce yesterday, as demand for the safe haven asset waned amid speculation that the global
economy is recovering, following report that US industrial output had risen in August. Additionally, gold prices slumped as
European leaders agreed to keep Greece as a member in the eurozone, and after ECB announced measures to boost US dollar
liquidity in the eurozone.
Currencies
1.1505 1.5870 1.3949
1.1471 1.5835 1.3884
1.1438 1.5801 1.3820
1.1404 1.5766
1.3755
1.1370 1.5731
1.3690
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 marginally higher against the USD at $1.5799, trading 0.2% higher against the EUR at
€1.1402, and 0.1% higher against the JPY at ¥121.31.
 The EUR is trading 0.2% lower against the USD at $1.3857.
 The EUR is trading 0.1% lower against the JPY at ¥105.35.
 The USD is trading higher against the most of the major currencies, amid speculation that consumer confidence in the US might
rebound from its lowest level in more than two years, shrugging off fears that the US economy was slowing down.
 The AUD traded lower against the JPY, amid speculation that policy makers would cut interest rates this year, ahead of the
release of the Australian Reserve Bank’s minutes next week.
 The NZD traded lower against the JPY, following a private report that showed consumer confidence data in New Zealand
declined in September, and as the Reserve Bank of New Zealand left interest rates at a record low yesterday.
 Yesterday, the EUR ended higher against the USD, after the European Central Bank announced to provide dollar loans to
eurozone banks, easing concerns about credit crunch in the region.
 The CAD closed higher against the USD, on hopes that global economy would recover, after announcement from ECB.
 The USD appreciated against the JPY, as Asian equity markets closed higher, curbing demand for safer assets.
2 From The Floor Refer to the last page for disclaimer

3. 16 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 - Nationwide Consumer Confidence (Aug) 48.00 49.00 Monthly
Eurozone 7:00 EU 25 New Car Registrations (Jul) - -8.10% Monthly
Eurozone 9:00 Current Account n.s.a. (Jul) - -€3.30 bn Monthly
Eurozone 9:00 Current Account s.a. (Jul) - -€7.40 bn Monthly
Eurozone 10:00 Labor Costs (YoY) (Q2) - 2.60% Quarterly
Eurozone 10:00 Trade Balance n.s.a. (Jul) €2.00 bn €0.90 bn Monthly
Eurozone 10:00 Trade Balance s.a. (Jul) - -€1.60 bn Monthly
Canada 13:30 Foreign investment in Canadian Securities (Jul) C$2.00 bn -C$3.46 bn Monthly
Canada 13:30 Canadian Investment in Foreign Securities (Jul) -C$0.34 bn Monthly
US 14:00 Net Long-term TIC Flows (Jul) $15.00 bn $3.70 bn Monthly
US 14:00 Total Net TIC Flows (Jul) - -$29.50 bn Monthly
US 14:55 Reuters/Michigan Consumer Sentiment Index (Sep) 56.60 55.70 Monthly
Re a l G D P - YoY CP I - YoY 10 Ye a r Bond Yi e l d 3.00%
UK 0.7% 4.5% 2.3%
US 1.6% 3.6% 1.9% 1.38%
Japan -1.0% 0.2% 1.0%
-0.25%
France 1.6% 2.2% 2.5%
Germany 2.7% 2.4% 1.8%
-1.88%
Brazil 3.1% 7.2% 4.0%
Russia 3.4% 9.0% 6.0% -3.50%
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. 16 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)
Work Group Interim GBP 1.80 24.00
Uniq Plc Interim GBP - -
Baillie Gifford Shin Nippon Plc Interim GBP - -
Asian Citrus Holding Finals GBP - -
Note: All Estimates are for Full Year
DTZ Holdings
Carclo, DTZ Holdings, Ingenious Media Active Capital Ltd., Pathfinder Minerals, Real Estate Credit Investments PCC Ltd
Latchways, New Century AIM VCT
4Imprint Group, Delcam, Ferrexpo, Informa, Moneysupermarket.com Group, Morgan Sindall Group
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)
Wolford Ag Q1 EUR 2.15 166.91
Deinove 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
Netsol Technologies Inc Q4 USD 0.17 38.70 U
Butler National Corp Q1 USD 0.11 - U
Note: All Estimates are for Full Year
4 From The Floor Refer to the last page for disclaimer

5. 16 September 2011
What’s Hot & What’s Not
Randgold Resources Ltd -3.0%
7.2% Lloyds Banking Group
6.6% Burberry Group Fresnillo -1.0%
National Grid -0.9%
6.1% GKN
4.8% Kingfisher Tullow Oil -0.9%
4.8% Legal and General Group Imperial Tobacco Group -0.4%
Lonmin British Sky Broadcasting -0.4%
4.7%
4.4% Johnson Matthey
4.3% John Wood Group
4.2% Next
4.2% IMI
0.0% 1.9% 3.8% 5.7% 7.6% -3.4% -2.6% -1.7% -0.9% 0.0%
Major Movers & Shakers
 Lloyds Banking group rallied 7.2%, after ECB announced to lend US dollars to euro-area banks, in coordination with the Federal
Reserve, the Bank of England, the Bank of Japan and the Swiss National Bank.
 Burberry Group soared 6.6%, after the National Business Daily reported that China might cut luxury-goods taxes by the end of
the year.
 GKN surged 6.1%, after Evolution Securities reiterated its “Buy” rating on the stock.
 Kingfisher rallied 4.8%, after its first-half profit surpassed market expectations.
 Precious metal stocks, Randgold Resource and Fresnillo, declined 3.0% and 1.0%, respectively, in line with lower gold and silver
prices.
5 From The Floor Refer to the last page for disclaimer

6. 16 September 2011
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6 From The Floor