TheChek News Flow

Following the steep decline in the US markets on Friday, Asian bourses are trading markedly lower on concerns related to the global economic recovery. US equity futures are pointing to extension of last week's selloff, dragged down by Ebola fears after confirmation that a medical worker in Dallas who cared for deceased patient from west Africa also contracted the disease. This marks the first Ebola infection in the US, and should continue to weigh on the travel industry...China September exports surged 15.3% from the prior year, handily beating estimates of 12.0%. Overall the trade balance came in as a surplus of $31.0B, lower than the expected $41.1B. Closely-tracked imports rose 7.0%, above the expected decline of 2.0%. Following the release of the trade data, an official from China Customs said the country faces difficulties in achieving an annual

trade growth target of 7.5%, but expects trade to improve over the next 2-3 months....Also of note in China, PBoC Gov Zhou reiterated the central bank would maintain prudent monetary policy, and that inflation would remain stable. PBoC top economic advisor Ma Jun added that China's slowing economy does not need any big stimulus, with the job market remaining strong...Fed Vice Chair Fischer spoke over the weekend, expressing uncertainty regarding FOMC economic projections and steering on the side of caution. Fischer noted Europe has become a major concern and may yet encounter recession or deflation, while also affirming the Fed is monitoring the headwinds from the stronger dollar...Nikkei -1.15% Hang Sang -0.62% ...Shanghai -0.71%

Eur$ 1.2671 S&P -0.51% EuroStoxx -1.17% FTSE -1.17% Dax -1.10% CAC -1.31% SMI -1.06%

Macro

- Fed Vice Chair Fischer: Fed itself does not know when rates will start to rise because policy is data dependent 

- Carney Sees Investment Funds Pose Risk to Financial Stability

- Japan Trade Union Confederation (Rengo) to seek 2% or more increase in base pay as part of collective bargaining negotiations next spring - Nikkei

- China Sept. Vehicle Sales 1.98m Units vs 1.72m in August

Keep an eye on :

- AC FP : Accor Makes Indicative Offer for Starwood’s Louvre Hotels: Echos

- ACL LN : Acal 1H Sales Rise; Sees Strong Growth in 1H Underlying Profit

- AF FP : Air France to Create Low Cost Unit If Pilots Refuse Plan: JDD

- BO DC : Bang & Olufsen Sees Sales Growth of ~10%: WirtschaftsWoche

- DBK GY : Bank's provisions for legal costs may rise up to €7B, about 30% more than previously accounted for and expected - German press - Last year's costs were €3B

- HDD GY : Heidelberger Druck May Cut Up to 500 More Jobs: Handelsblatt

- EDL FP :Saudi Prince to Buy Shares in Euro Disney Rescue: Daily Mail

- F IM : Fiat Chrysler Plans to Sell Shares Held by Co. Treasury

- GALP PL : Galp Raised Output in Third Quarter, Processed Less Crude

- GAS SM : To offer up to $3.3B to acquire Chile's largest power distributor Compañía General de Electricidad- Offering $7.93/shr

- GSZ FP : GDF Suez Considering Bid for Talisman Energy, Sunday Times Says

- GWI1 GY : Gerry Weber Sales to Reach EU1b ‘Soon,’ CEO Tells Welt

- KNIN VX : Kuehne & Nagel 3Q Ebit Rises, Confirms 2014 Volume Forecasts

- LOND LN : India's JSW Steel said to be nearing a deal to buy London Mining - financial press
- LUX IM : Luxottica CEO resigned, Luxottica to Meet Tomorrow on CEO’s Intention to Resign

- NOVN VX : Novartis Fined 3b Rupees by Indian Regulator: Standard Link

- QPP LN : Quindell 3Q Ebitda, Sales Advance; Boosts Lower Margin Range

- RR/ LN : Rolls-Royce Needs Strategy Shift to Soar - WSJ

- SAP GY : Salesforce.com Plans to Overtake SAP, WirtschaftsWoche Says