(BFW) Men Arrested in London Police Raids Planned to Attack Queen: Sun

Men Arrested in London Police Raids Planned to Attack Queen: Sun
2014-11-08 02:40:58.304 GMT


By Tracy Withers
Nov. 8 (Bloomberg) -- Four men arrested by London police
yesterday are suspected of plotting to kill Queen Elizabeth II,
The Sun reported without attribution.
* Four Islamic terror suspects planned a knife attack on the
monarch at the Royal Albert Hall: Sun
* NOTE: Arrested men planned U.K. attack, Press Association
reported, without saying where it got the information
* NOTE: London Police Arrest Four Men in Counter-Terrorism
Investigation FIFW NSN NEO90R6S972N <GO>



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>>> US Close Dow +0,11% S&P +0,03% NAsdaq -0,13%

Closing Market Summary: Stocks End Upbeat Week on Flat Note

The major averages ended Friday on a quiet note with the S&P 500 (unch) locking in a 0.7% gain for the week. Meanwhile, the tech-heavy Nasdaq (-0.1%) spent the duration of the day in negative territory to end the week unchanged.

This morning, the latest Nonfarm Payrolls report revealed the addition of 214,000 jobs in October. The reading came in below the consensus estimate (235,000), but the overall tone of the report did not represent a departure from recent trends. Furthermore, the data did not stoke up fears of the Fed being in a rush to hike the fed funds rate. To that point, the 10-yr note rallied, sending its yield lower by eight basis points to 2.30% while the Dollar Index (87.58, -0.44) took a step back from its best level since mid-2010. The index narrowed its weekly gain to 0.7%.

The weaker dollar served as a supportive factor for crude oil, which climbed 1.0% to $78.71/bbl. Fittingly, the strength helped the energy sector (+0.9%) finish ahead of the remaining cyclical groups. Similarly, the materials space (+0.5%) was also supported by commodities. The Market Vectors Gold Miners ETF (GDX 18.64, +1.43) jumped 8.3% as gold futures soared 2.8% to $1174.70/ozt. Steelmakers gave another boost to the sector after industry giant ArcelorMittal (MT 12.59, +0.21) reported better than expected revenue, which overshadowed below-consensus earnings. Shares of MT spiked 1.7% while the Market Vectors Steel ETF (SLX 41.94, +0.87) rallied 2.1%.

Meanwhile, the remaining cyclical sectors struggled to keep pace with the market. The consumer discretionary sector (-0.2%) lagged throughout the session with Dow component Disney (DIS 90.00, -2.00) falling 2.2% despite reporting a one-cent beat.

The top-weighted technology sector (-0.03%) also spent the day in the red with chipmakers facing broad pressure. NVIDIA (NVDA 19.79, -0.43) and Skyworks (SKWS 59.88, -2.26) reported their quarterly results, but above-consensus earnings from the former and in-line results from the latter could not stop the PHLX Semiconductor Index from surrendering 0.9%.

The high-beta weakness was also apparent in the biotech space as the iShares Nasdaq Biotechnology ETF (IBB 290.14, -3.18) lost 1.1% and contributed to the underperformance of the Nasdaq. As for health care (-1.0%), the sector ended behind the remaining nine groups with DaVita (DVA 74.49, -3.54) and Humana (HUM 130.58, -9.29) contributing to the weakness. The two registered respective losses of 4.5% and 6.6% after DaVita beat by a penny and Humana missed on earnings and revenue.

Elsewhere among countercyclical groups, consumer staples (+0.3%), telecom services (+0.8%), and utilities (+1.0%) settled ahead of the broader market.

Participation was ahead of average with more than 750 million shares changing hands at the NYSE floor.

Economic data included Nonfarm Payrolls and Consumer Credit:
  • Payrolls increased by 214,000 while the consensus expected a reading closer to 235,000 
    • Although payroll growth exceeded the 200,000 mark for the ninth consecutive month, earnings growth remained anemic, increasing just 0.1% (consensus 0.2%) 
    • The combination of a historically low labor force participation rate and jobless claims steadily tracking below the 300,000 mark should lead to robust growth, but businesses remain reluctant to step up hiring 
  • The Consumer Credit report for September showed an increase of $15.90 billion, which was lower than the consensus estimate of $16.00 billion 
There is no economic data scheduled to be released on Monday.
  • Nasdaq Composite +10.9% YTD 
  • S&P 500 +9.9% YTD 
  • Dow Jones Industrial Average +6.0% YTD 
  • Russell 2000 +0.9% YTD 

(BFW) China Oct. Exports Rise 11.6% Y/Y; Est. 10.6% Rise

BFW 11/08 02:17 *CORRECT: CHINA'S OCT. TRADE SURPLUS $45.41 BILLION
BFW 11/08 02:11 *CHINA OCT. TRADE SURPLUS $45.4B; EST. $42B SURPLUS
BFW 11/08 02:10 *CHINA OCT. IMPORTS RISE 4.6% Y/Y; EST. 5% RISE
BFW 11/08 02:10 *CHINA OCT. EXPORTS RISE 11.6% Y/Y; EST. 10.6% RISE
China Oct. Exports Rise 11.6% Y/Y; Est. 10.6% Rise
2014-11-08 02:13:47.787 GMT


By Bloomberg News
Nov. 8 (Bloomberg) -- China customs administration
announces data in statement; median est. 10.6% rise (range 6% to
14%, 37 economists).
* Imports climbed 4.6% y/y; median est. 5% rise (range 1.5% to
16.6%, 37 economists)
* Trade surplus $45.41b; median est. $42b surplus (range $30b-
$50b surplus, 36 economists)

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nwadhams@bloomberg.net

WSJ : Monte dei Paschi Is Formally Up for Sale

Monte dei Paschi Is Formally Up for Sale
Italian Bank Hires Investment Bankers at UBS, Citigroup to Find Deal

Banca Monte dei Paschi di Siena SpA, Italy’s No. 3 bank and the world’s oldest, is up for sale, according to people familiar with the matter.

The Tuscan lender, the worst performer in Europe’s recent banking “stress tests,” has hired investment bankers at UBS AG and Citigroup Inc. to find a buyer or merger partner, these people said. The sale process formally got under way this week, after the same two investment banks lined up underwriters for a planned €2.5 billion ($3.09 billion) stock sale for Monte dei Paschi.

Monte dei Paschi’s goal is to find a buyer or merger partner before the so-called rights offering is actually consummated, possibly making that offering unnecessary, these people say. The rights offering is expected to take place in the second quarter of 2015.

It isn’t clear how much Monte dei Paschi might fetch in any sale. The bank’s shares, which have declined 40% this year, are currently worth a total of about €3.4 billion.

The people say UBS and Citigroup bankers are in the very early stages of identifying possible bidders for Monte dei Paschi, which was founded in 1472 and is considered the world’s oldest bank. The list includes midsize Italian rival UBI Banca , as well as some large European banks that already operate in Italy. Monte dei Paschi executives haven’t actually met with any potential suitors. UBI previously has said it isn’t involved in any negotiations with Monte dei Paschi.

The list of potential buyers is limited by Monte dei Paschi’s deep problems. In last month’s stress tests, the bank was found to have a €2.1 billion capital shortfall—the biggest hole of any of the 150 banks that underwent the tests. The magnitude of the shortfall surprised analysts, investors and bank executives, partly because Monte dei Paschi had raised €5 billion only a few months earlier.

Like other Italian lenders, the Siena-based bank is weighed down by billions of euros of troubled loans. The bank also is embroiled in a longstanding dispute over derivatives tied to its holdings of Italian government bonds.

Top executives at several large European banks, including Banco Santander SA and Intesa Sanpaolo SpA, recently have said they aren’t interested in buying Monte dei Paschi.

>>> US Gapping down

Gapping down
In reaction to disappointing earnings/guidance: SLXP -33.9%, (announced the appointment of Timothy Creech as acting CFO effectively immediately; Adam Derbyshire has resigned his position at the Company), MDRX -17.3%, CPST -16.7%, YUME -15.4%, UBNT -14.8%, ANF -13.9%, KTOS -11.8%, BRKR -10.9%, WAVX -10.7%, GUID -9.9%, (announces CEO transition), GUID -9.4%,SSTK -9.2%, OLED -8.5%, XOMA -7.8%, ANET -7.6%, BPZ -6.7%, DVA -6.4%, FSLR -6.4%, (First Solar BELECTRIC announced that they have broken ground on a new 46 megawatt utility-scale power plant, in Oxfordshire, Southern England ), SFM -5.7%, CSC -4.6%, GXP -4.2%, DAR -3.7%, AIRM -3.5%, GSAT -3.2%, LOCO -2.9%, IDSY -2.2%, DVCR -1.9%, DIS -1.7%, AGO -1.7%,ELON -1.5%, FTEK -1.4%, RBCN -1.3%, BAC -0.8%, ( adjusts Q3 results due to FX litigation expenses; recorded a $400 million non-deductible charge and adjusted its Q3 financial results to a net loss of $232 million or $(0.04) per share), .

Select EU financial related names showing weakness: NBG -4.5%, SAN -2.2%, DB -2%, BCS -1.1%, ING -0.6%

Other news: CTIC -9.7% ( announces proposed public offering of convertible preferred stock), RIG -7.9% (announces impairment charges and delays release of Third Quarter 2014 results), NADL -7.8% (still checking), AEO -5.9% (in symp with ANF), PBR -4.1% (discloses price increases for Gasoline A and Diesel), PME -3.9% (announced that the Company will restate its previously issued annual financial statements ), ARO -3.5% (in symp with ANF), NE -2.9% ( provides fleet contract status update), REXX -2.5% (announced that its CFO, Michael Hodges, has decided to resign from his position effective Jan 31), SPWR -1.1% (following FSLR results/update), .

Analyst comments: AFL -0.9% (downgraded to Neutral from Buy at BofA/Merrill)