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+5.7% vs est +5.2%) Leading European Sectors: Food & Beverage +0.54%, Telecom +0.41%, Retail +0.05% Lagging European Sectors: Autos/Parts -2.46%, Basic Resources -2.24%, Construction -1.52% GIII 2M share buyback - QADA 1M shr buyback - FINL strong sales CBK cuts forecast - ENZN workforce reduction - Tunstall
pco initiates ORBK (op), Raja initiates YUM/VRA/MCD (op's), JPM initiates RMBS (ow) Key Research: Stifel initiates PAG/GPI/FIO (buys) & ABG (hold), Jefferies initiates EFTA00427362 IR/KMT/OAS (buys) Key Research: Citi downgrades ZMH (sell), Barclays downgrades GR/EW & upgrades NOVA Key Research: GS in
cutives raises inflation expectations to the highest in almost 3 years (NZD +0.95%) Leading European Sectors: Autos/Parts +1.47%, Chemicals +1.46%, Basic Resources +1.15% Lagging European Sectors: Travel & Leisure -0.75%, Banks -0.66%, Retail -0.33% HRS ceo succession plan - TWC to name new ceo - HSFT penny li
downgrades CBOE (sell), W Blair upgrades ESI/DV/EDMC & downgrades CPLA/STRA, BofA initiates CLGX (buy) Key Research: Merriman upgrades KVHI (buy), Jefferies initiates SON (hold), Bofa downgrades HSBA.LN & initiates TMS (buy) Key Research: BMO downgrades LFT & DEER, CS resumes CYH & THC (op's), GS downgr
t or near ytd highs. Although the recent move up in the US has been led by Defensives (Consumer Staples in particular), it is Autos, Oil & Gas, and Basic Resources that are outperforming this morning in Europe. Some big moves in after-hours trading last night in the US with YELP, LNKD, SFLY, IACI all trading lo
grades BIDU (buy) & initiates SKX (buy) ••• BTIG upgrades FB (buy), DB downgrades X, Evercore downgrades DLR ••• GS downgrades CRS and CHKR (sell), Jefferies initiates DKS (hold) • JPM downgrades EW, MS initiates FINUFL (ew) & assumes NKE (ow) and UA (ew) ••• Steme initiates RLGY (neut), Bofa downgrades
ficant find in Gullfaks, preliminary calcs show 40mn to 150mn recoverable BOE (trading +1.9%) Leading European Sectors: Luxury +1.72%, Banks +1.68%, Basic Resources +1.30% Lagging European Sectors: Tech -0.97%, Media -0.07%, Healthcare +0.08% WERN Ws light — AIRM guides below est — THM names new pres RH earnin
s at $23.00 EFTA00391982 US Key Research: • BMO upgrades NOK, Compass Point downgrades PAY, Wells initiates CHDN/COF (op's) • GS upgrades VRTX, Jefferies upgrades EE (buy) & initiates WCG (hold) and GASS (buy) • RBC initiates MITL (sp), Jeff initiates WCG (hold) and GASS (buy)b. Riley intiates ADBE (b
Entities connected to both Basic Resources and Jefferies

Tony Blair
PERSON
Bloomberg L.P.
ORGANIZATION
Lesley Groff
PERSONIke Groff
PERSON
Barron
PERSON
Wells
ORGANIZATION
Moody's
ORGANIZATION
Angela Merkel
PERSON
François Hollande
PERSONMark Camey
PERSON
Toshiba
ORGANIZATIONCourtney Wild
PERSON
Nokia
ORGANIZATIONChemicals
ORGANIZATIONKansas City Fed Manufacturing Activity
ORGANIZATIONChicago Fed National
ORGANIZATION
BofAML
ORGANIZATION
McDonalds
ORGANIZATIONNOK1V FH
ORGANIZATIONChristian Noyer
PERSON