>>> What to look at today - 20th of N0vember 2015

Dow-0.02% S&P-0.07% Nasdaq-0.03% Russell-0.42% VIX 16.99 (+0.83%)

US Market closed slightly lower. Health care (-1.6%) and energy (-1.3%) struggled from the start with the health care space responding to a 5.7% dive in the shares of UnitedHealth (UNH) after the insurer lowered its guidance, IBB -1.6%. crude oil loss 0.5%, ending the pit session at $40.54/bbl. (INTC), surged 3.4% after guiding in-line and boosting its annual dividend by eight cents to $1.04. SUNE -12% after Blackstone denied having interest in backstopping SUNE. consumer staples (+0.3%), telecom services (+0.5%), & utilities (+1.0%). Volume were below average with 800mil shares. US After Hours ANW +12.7%, ROST +8.2%, INTU +7.9%, MBL -36.6%, MENT -24.1%, WDAY -6% following earnings/guidance, VIPS +4.8% on Tiger 9.96% passive stake. Asian Markets trading slightly higher with low voaltility, JPY @ 122.80 justify NKY Underperformance. In local press, there was speculation that Japan government would consider to raise wages to help boost consumption so as to achieve the govt's growth targets. Japan cabinet officials also spoke - Amari urged caution on proceeding with the 2nd stage of consumption tax increase, while Fin Min Aso said there were no decisions yet on the direction of extra budget. China markets were unimpressed by the PBoC decision late Thursday to cut the 7-day Standing Lending Facility Rate (SLFR). PBoC cut 1-day (overnight) Standing Lending Facility Rate from 4.50% to 2.75% and 7-day Standing Lending Facility Rate from 5.50% to 3.25%. The move to lower borrowing costs is in line with central bank's agenda to cushion economic slowdown, stimulating lending activity that was particularly disappointing in October. PBoC said the SLF rate cut would help to form the ceiling of an interest rate corridor.Intel

Nikkei +0.10% Hang Seng +0.14% Shanghai +0.48%

Eur$ 1.0721 JPY 122.82 CNY 6.3819 GBP 1.5286 CHF 1.0130 RUB$ 64.6849 WTI $40.54

S&P +0.02% EuroStoxx-0.2% Dax-0.20% SMI +0.11

Macro :

- EU May Help European Airlines Against Gulf Rivals: Handelsblatt

- Lew Says Treasury Can Only Slow Pace of Corporate Tax Inversions

Keep an eye on :

- A2A IM : A2A offer for 51% of Linea to consist of cash and shares (127mil) - Milano Finanza

- AIR FP : Airbus CEO Expects to Put New Engines on A380 After 2022

- AF FP : Air France Plans EU1B of Investments in 2016, Le Figaro Says

- ABE SM : Merrill Selling 6.34% of Abertis to Institutional Investors

- BLT LN : BHP Billiton Credit Rating Downgrade ‘Looks Likely’: Macquarie

- CEFB BB : CFE 9-Month Revenue Falls 4.9%, Order Backlog EU4.3 Bln End-Sept

- DEXB BB : Dexia 3Q Net EU127m; CET1 Ratio Rises Slightly to 15.1%

- EDEN FP : Edenred Names Patrick Bataillard Chief Financial Officer

- ERICB SS : Ericsson did not see IP technology company acquisition economically viable - Talouselama

- GLPG NA : Galapagos Starts P1 Study W/ GLPG1972, Gets EU3.5m Milestone

- GALP PL : Eni to Sell Remaining ~4% Stake in Galp Energia

- IDR SM : Indra in Talks to Sell Venezuela Units: El Confidencial

- INW IM : F2i May Team Up With Cellnex for Inwit Stake Sale: CEO to Sole

- IFX GY : Infineon Said to Express Interest in Investing in Renesas: WSJ --> Renesas (6723 JP) +11%

- MSK IM : Moleskine Shares Offered at EU1.70 to Market Each: Terms

- NOVOB DC : Novo CEO Says Innovation Must be Factored Into Prices of Drugs

- RR/ LN : Rolls-Royce says activist shareholder ValueAct has requested board seat: no decision taken