>>> Dow -0,27% S&P-0,25% Nasdaq-0,44%

Closing Market Summary: S&P 500 Logs Third Consecutive Loss

Despite staging an afternoon rally, the S&P 500 was unable to log its first gain of 2014. The benchmark index registered its third consecutive loss, shedding 0.3% as six of ten sectors finished in the red. Equities began the day on a modestly higher note, but the early gains evaporated during the opening hour as the broader market followed the Nasdaq Composite into the red. The tech-heavy index was hit with widespread selling pressure that weighed on many top components and biotechnology. Both Apple (AAPL 543.93, +2.95) and eBay (EBAY 51.78, -1.48) received downgrades, but Apple was able to stage an intraday reversal after dipping below its 50-day moving average. For its part, eBay settled lower by 2.8%.

Furthermore, biotechnology also pressured the Nasdaq after Goldman Sachs downgraded Celgene (CELG 162.62, -7.19) to ‘Sell.' The stock tumbled 4.2% while the broader iShares Nasdaq Biotechnology ETF (IBB 223.82, -2.21) lost 1.0%. Even though the tech-heavy Nasdaq paced the early weakness, the technology sector ended in-line with the broader market. Other cyclical groups were mixedwith respect to the broader market as energy (+0.1%) and financials (+0.1%) outperformed while consumer discretionary (-0.6%), industrials (-0.6%) and materials (-0.6%) lagged. Notably, the financial sector spent the entire session in the green as Bank of America (BAC 16.66, +0.25) posted its third consecutive gain. The stock jumped 1.5% to extend its 2014 price return to 7.0%. On the downside, the industrial sector finished near its lows as transports weighed. The Dow Jones Transportation Average lost 1.3% as 19 of its 20 components ended lower. Delta Air Lines (DAL 29.29, +0.06) was the lone advancer, adding 0.2%. Similar to cyclical groups, countercyclical sectors ended in mixed fashion. Telecom services (+0.5%) and utilities (+0.1%) outperformed while consumer staples (-0.4%) and health care (-0.4%) lagged. Once again, participation was on the light side as only 656 million shares changed hands on the floor of the New York Stock Exchange.

Treasuries rallied throughout the trading day, sending the 10-yr yield lower by four basis points to 2.96%. Today's economic data was limited to a pair of reports:

o The ISM Non-manufacturing Index for December fell to 53.0 from 53.9 while the consensus expected the index to increase to 54.6. Business activities and production levels decelerated slightly as the respective index fell to 55.2 from November's 55.5. o November factory orders rose 1.8% after falling an upwardly revised -0.5% (from -0.9%). The consensus expected orders to increase 1.7%. As the advance report already hinted at, nearly the entire gain in factory orders resulted from strong demand for durable goods orders. Durable goods orders rose 3.4%, which was down slightly from the 3.5% gain reported in the advance report. Excluding transportation, durable goods orders rose a solid 1.2%. o Tomorrow's economic data will be limited to the November trade balance, which will be reported at 8:30 ET.

o DJIA -0.9% YTD o S&P 500 -1.2% YTD o Russell 2000 -1.4% YTD o Nasdaq -1.5% YTD

(BFW) *VESTAS SEES 2013 FREE CASH FLOW OF APPROX EU1B VS EU500-700M

--> Stock Higher

+------------------------------------------------------------------------------+

BN 01/06 15:55 *VESTAS SHARES GAIN AS MUCH AS 6.5% IN COPENHAGEN BFW 01/06 15:54 *VESTAS SEES 2013 FREE CASH FLOW OF APPROX EU1B VS EU500-700M BN 01/06 15:54 *VESTAS SEES 2013 FREE CASH FLOW OF APPROX EU1B VS EU500-700M BN 01/06 15:53 *VESTAS UPGRADES FREE CASH FLOW VIEWS FOR '13 TO APPROX EU1BN

+------------------------------------------------------------------------------+

Vestas upgrades free cash flow expectations for 2013 to approx EUR 1bn 2014-01-06 15:53:38.254 GMT

Vestas upgrades free cash flow expectations for 2013 to approx EUR 1bn

Vestas Wind Systems A/S Company Announcement

Vestas upgrades free cash flow expectations for 2013 to approx EUR 1bn

Vestas upgrades free cash flow expectations for 2013 to approx EUR 1bn

Aarhus, Denmark, 2014-01-06 16:53 CET (GLOBE NEWSWIRE) --

Based on preliminary reporting, Vestas upgrades the expectations for the 2013 free cash flow to approx EUR 1bn compared to the previous expectation of EUR 500-700m. The improvement is primarily driven by a better-than-expected development of the net working capital.

As earlier announced, the annual report for 2013 will be disclosed on 4 February 2014.

Contact details Vestas Wind Systems A/S, Denmark Lars Villadsen, Senior Vice President, Investor Relations Tel.: +45 9730 7201

https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=588559&messageId=728063 https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=455915 -0- Jan/06/2014 15:53 GMT

(BFW) Essilor, Sanofi Have Most Upside to PTs in Stoxx 600 Health Care

Essilor, Sanofi Have Most Upside to PTs in Stoxx 600 Health Care
2014-01-06 15:13:08.217 GMT


By Sheela Sharma
     Jan. 6 (Bloomberg) -- Essilor, Sanofi in the Stoxx 600
Health Care Index (SXDP) have scope for biggest price gains over
the next 12 months, according to Bloomberg average analyst price
targets.
  * Lensmaker Essilor (EI FP) has a potential upside of ~14.5%,
    followed by pharmaceuticals company Sanofi (SAN FP) at ~14%
    vs an avg. 0.9% upside for all SXDP listed stocks
  * Novozymes (-12%), UCB (-11%) and AstraZeneca (-10%) have
    greatest scope for price declines over the next year
  * NOTE: Sanofi is also one of the most highly rated SXDP
    stocks among analysts, with a recommendation consensus of
    4.3 and 24 of 35 analysts advising clients to buy
    * Consensus score is calculated by converting each
      analyst’s current recommendation into a number from 1-5
      and taking the avg.

For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>

--Editor: James Ludden

To contact the reporter on this story:
Sheela Sharma in London at +44-20-7392-0395 or
ssharma145@bloomberg.net

To contact the editor responsible for this story:
James Ludden at +44-20-7673-2645 or
jludden@bloomberg.net

>>> NOV FACTORY ORDERS: +1.8% V +1.7%E - Full table attached

NOV FACTORY ORDERS: +1.8% V +1.7%E
- Prior revised higher from -0.9% to -0.5%

two of the last three months, increased $8.8 billion or 1.8
percent to $497.9 billion, the U.S. Census Bureau
reported today. This was at the highest level since the
series was first published on a NAICS basis in 1992 and
followed a 0.5 percent October decrease. Excluding
transportation, new orders increased 0.6 percent.
Shipments, up six of the last seven months, increased
$4.9 billion or 1.0 percent to $494.6 billion. This was
also at the highest level since the series was first
published on a NAICS basis and followed a 0.1 percent
October increase.
Unfilled orders, up nine of the last ten months,
increased $10.4 billion or 1.0 percent to $1,058.5 billion.
This was also at the highest level since the series was
first published on a NAICS basis and followed a 0.6
percent October increase. The unfilled orders-toshipments
ratio was 6.42, up from 6.39 in October.
Inventories, up eleven of the last twelve months,
increased $0.2 billion to $633.4 billion. This was also at
the highest level since the series was first published on a
NAICS basis and followed a slight October increase.
The inventories-to-shipments ratio was 1.28, down from
1.29 in October.

* New Orders
New orders for manufactured durable goods in
November, up three of the last four months, increased
$8.1 billion or 3.4 percent to $241.6 billion, revised from
the previously published 3.5 percent increase. This
followed a 0.7 percent October decrease.
Transportation equipment, also up three of the last four
months, led the increase, up $6.2 billion or 8.3 percent to
$81.1 billion.
New orders for manufactured nondurable goods
increased $0.8 billion or 0.3 percent to $256.3 billion.

WSJ Oil Futures Rise On Middle East Supply Disruption Fears

Oil Futures Rise On Middle East Supply Disruption Fears
Violence Seen as Another Potential Supply Disruption

Brent oil futures edged higher Monday as violence in the Middle East sparked concerns about the security of crude supplies in the region.
Meanwhile, U.S. prices swung between slight gains and losses after traders locked in some modest profits following a recent selloff and some investors bet that the recent decline in domestic supplies would end.
Light, sweet crude for February delivery recently rose 4 cents to $93.99 a barrel on the New York Mercantile Exchange. Brent crude on ICE Futures Europe rose 39 cents, or 0.4%, to $107.30 a barrel.
Prices for both the U.S. contract, known as West Texas Intermediate, and the European benchmark lost 6.3% and 4.7% last week.
In the Middle East, Iraqi forces planed attacks against Al Qaeda-linked militants in Fallujah, a city west of Baghdad. The militants took over the city and parts of Anbar provincial capital Ramadi, the first time insurgents had made such a push into a major cities of the country since the conflicts that followed the U.S.-led invasion of Iraq in 2003.
On Sunday, Secretary of State John Kerry said the U.S. stands ready to help Iraq, but no American troops would be sent there.
Such conflict in the region is worrisome to oil market investors because the Middle East produces roughly a third of the world's oil supply. Iraq, in particular, exported 2.4 million barrels of crude in 2012, according to the Energy Information Administration.
"This is just one more potential supply disruption on the heels of some Libyan oil production returning to the market," said Andy Lipow, president of Lipow Oil Associates, a consulting firm.
On Sunday, oil production restarted at the Sharara oil field in Western Libya. The field, operated by Repsol S.A. (REPYY), was pumping 60,000 barrels a day, down sharply from its normal output of 300,000 barrels a day.
The announcement underscores Libya's struggles to resume production as strikes at its oil export terminals in recent months have slashed its output to a fraction of the 1.6 million barrels a day it produced last spring.
In a note to clients, Goldman Sachs analysts maintained their forecast for Libyan production at 650,000 barrels per day this year, adding that "a resolution of the conflicts in Western Libya does not necessarily increase the likelihood of a resolution of the conflicts in Eastern Libya."
In the U.S., crude-oil inventories have fallen for five straight weeks, though many analysts attributed the decline to year-end accounting measures. Mr. Lipow said it is likely that a government report on Wednesday will show an uptick in supplies, ending that streak, as refiners bring in more crude imports.
Meanwhile, February heating oil climbed 1.85 cents, or 0.6%, to $2.9579 a gallon as market participants bet on higher demand for the fuel with frigid temperatures pushing into the eastern U.S.
Front-month February reformulated gasoline blendstock, or RBOB, recently rose 0.25 cents to $2.6517 a gallon.

>>> Moody's comments on Brazil outlook, notes Baa2 rating incorporates a slower


Moody's comments on Brazil outlook, notes Baa2 rating incorporates a slower growth outlook
- Brazil's Baa2 sovereign credit rating with a stable outlook captures the country's large and diversified economy and its middle-to-high per capita income, says Moody's Investors Service in its annual sovereign credit analysis. Although it estimates potential GDP growth at 3%, Moody's expects Brazil's GDP growth in 2014 to remain in the 2% range, where it has been since 2011.
- In September 2013, Moody's changed Brazil's credit outlook to stable from positive, as persistent low growth interrupted improvement in several economic and fiscal indicators. One important ratio showing deterioration is Brazil's debt-to-GDP measure, which has been climbing towards the 60% mark and Moody's estimates it could reach 62% in 2014.
- The path debt-to-GDP takes will strongly influence Brazil's sovereign credit outlook, says the rating agency. An important question to sovereign credit quality is whether authorities can restore conditions that will eventually lead to a declining trend in the debt ratio.
- Brazil has limited fiscal flexibility, given a rigid government spending structure and relatively heavy interest burden. According to Moody's, the main challenge public finances face is the persistent increase of primary current spending.
- Protests in various cities around the country in 2013 expressed social discontent with the quality of government and with its ability to deliver public goods and services. However, Moody's does not expect upcoming elections to shift policies drastically given general consensus for preserving macroeconomic stability. Still, Moody's says Brazil faces political challenges related to difficulties in passing reforms necessary to remove structural obstacles that constrain the country's medium-term economic prospects.