US market ended on the lows on Tuesday as no solution emerge from discussions; US Fut. Higher (30bps) after reports that ultra-dovish Janet Yellen will in fact be nominated to replace Fed Chairman Bernanke in 2014..Alcoa informally kicked off the earnings season with strong beat and upbeat comments on China demand (+2.3% after hours) ; Yum was a big disappointment however, as China SSS drop was much higher than expected -7% after hours...VIX @ 20.34 (+4.8%) Nikkei closed +1% on BoJ Minutes: recovery is on track; some concern on exports; QE is helping to lower upward pressure on yields, Shanghai +0.15% despite fresh round of warnings over ballooning shadow banking activity; Analysts continue to expect Q3 GDP on tap for next week to recover from Q2 levels.
Eur$ : 1.3565 European Futures indicated 15bps lower
Keep an eye on : - AF FP : French Court Confirms Ruling Vs. Air France’s Cityjet: Tribune - AM FP : FRANCE’S LE DRIAN: RAFALE CONTRACT TO BE SIGNED IN INDIA 2014 - AZA IM : Alitalia to carry out €300m capital increase under gov. plan - BAER VX : Julius Baer May Have Raised Too Much Capital for Merrill: FuW - BAYN GY : Bayer Lung Drug Wins U.S. Approval to Treat High Blood Pressure - BG/ LN : BG Group Near Deal on Brazil Barreirinhas Basin: Reuters Link - CE2 GY : Cropenergies 1H Sales Rise to EU372m From EU320m - CELS1 GY : Higher Bid May Emerge For Celesio at EU28-Shr, UBS Says - GETIB SS : Getinge CEO Sees Improving Margin in 2014, Dagens Industri Says - MC FP : Louis Vuitton Takes Legal Action Against Sogo HK - MOBB BB : Mobistar Aims to Offer Digital TV by End 2014, CEO Tells De Tijd - NESN VX : Nestle Looking to Sell Jenny Craig, Reuters Reports - RLIA SM : Bankia, FCC to Sell Realia Stakes This Year, Expansion Reports - SAN FP : Sanofi Makes New Proposal on French R&D Reorganization: Figaro - TECN SW : Tecan 2013 Sales Forecast Affected by Fewer Life Science Orders - TIT IM : MORE: Telecom Italia Cut to Junk by Moody’s; Outlook Negative, Telecom Italia Says It’s ‘Solid’ Industrially, Financially - UG FP : Dongfeng Plans to Buy 30% Stake in PSA Peugeot: Business News