5 olw +150 14.0 112% Banks SX7P 12.4 n 0 12.4 00% Media SXMP 26 olw +100 3.6 138% BasicResou SXPP 3.0 n 0 3.0 00% Utilities SX6P 3.9 olw +100 49 125% Chemicals SX4P 5.0 n 0 5.0 00% Constr&Mtr SXOP 3.0 n 0 3.0 00% Trav&Leisr SXTP 1.8 ulw -150 0.3 15% FinServ SXFP 1.9 n 0 1.9 00% Food&Bevrg SX3P 5.9 ulw -150 4

ts: headline number weaker (-0.3% y/y versus February +7.0%), but HK strong EFTA00370757 Leading European Sectors: Banks +1.26%, Basic Res +1.18%, Chemicals +1.09% Lagging European Sectors: Food/Bev -0.18%, Autos/Parts -0.05%, Utilities +0.04% RJF eps missed — ALGN view trailed — SYK eps missed TSCO re

+1.5%) • Manchester United: David Moyes sacked at Manchester United (currently 7th in the EPL table) Leading European Sectors: Healthcare +2.75%, Chemicals +1.41%, Fin Services +1.38% Lagging European Sectors: Basic Res -0.17%, Oil & Gas +0.26%, Tech +0.37% Secondaries (announced/priced): ALSN, PLUS, A

C, DBK upgrade EBS AV, RBI AV, MAQ downgrade SVT LN ••• GS upgrade European Banks, Telecoms, UK Homebuilders, downgrade European Media, Industrials, Chemicals ••• HSBC downgrade ML FP, SIX2 GY, initiate ARM LN (ow), upgrade PC IM, • Nordea upgrade ROCKB DC, Numis downgrade ICP LN, MS upgrade SGC LN • UBS

G20 today Leading European Sectors: Basic Res +1.89%, Banks +1.27%, Insurance +1.04% Lagging European Sectors: Food/Bev -1.49%, Healthcare -0.85%, Chemicals -0.55% GNC $300M buyback - FSII net forecast below - FCF $50M buyback AMAT names president - CIM cuts dividend - LZB misses on revs FULT 5M shr bu

a Securities Regulatory Commission to accelerate QFII approvals (Shanghai Securities News) Leading European Sectors: Telco +0.28%, Trav/Les -0.13%, Chemicals -0.06% Lagging European Sectors: Real Estate -1.32%, Oil & Gas -1.02%, Utilities -1.00% MELI penny light - GCA penny better - AMEN loss worse EFTA

pore's q4 GDP contracted an annualized 4.9% (2nd time in 3qtrs) (manufacturing Leading European Sectors: Basic Resources +3.02%, Autos/Parts +1.86%, Chemicals +1.17% Lagging European Sectors: Utilities -0.37%, Telco -0.35%, Media -0.27% HTZ conversion right triggered - TSTC guides lower - RF ends talks w/

ealand company executives 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

ey PIMP, Economically sensitive carload!: We consider the remaining carloads, which make up 56% of all rail carloads (ex- intermodal) and consist of Chemicals (18%). Nonmetallic minerals (12%), Metals (11%), Autos and auto parts (8%) and Forest products (5%), to be more closely tied to the underlying econ

ectively. That follows modest underperformance by the DB HY Chemicals Index in 2014 and 2015 and strong outperformance in 2016. Current YTW for the Chemicals Index is 5.36% versus 5.75% for the broad HY Index. The current -39 bps differential is 70 bps tight to the average over the past five years and 22

ef Executive Officer, Long-Term Savings and Chairman Chief Executive Officer Donald R. Harkleroad President Joe Harlan Executive Vice-President, Chemicals, Energy and Performance Materials Habboush Group Wamda Lucerne Festival National Bank of Kuwait Infosys Lodestone Al Arabiya Al Arabiya Orkl