>>> Brokers Ups & DOwns

Up

*ARKEMA RAISED TO BUY VS NEUTRAL AT CITI *ATOS RAISED TO OVERWEIGHT VS EQUALWEIGHT AT MORGAN STANLEY *LSR RAISED TO OVERWEIGHT VS NEUTRAL AT JPMORGAN *NORSK HYDRO RAISED TO NEUTRAL VS SELL AT CITI *PZ CUSSONS RAISED TO BUY VS NEUTRAL AT GOLDMAN *WOLSELEY RAISED TO OVERWEIGHT VS EQUALWEIGHT AT MORGAN STANLEY *WOOD GROUP RAISED TO OUTPERFORM VS NEUTRAL AT CREDIT SUISSE

Down

*AAREAL BANK CUT TO HOLD VS BUY AT KEPLER CHEUVREUX *AMEC CUT TO NEUTRAL FROM OUTPERFORM AT CREDIT SUISSE *ARCELORMITTAL CUT TO UNDERPERFORM VS NEUTRAL AT EXANE *OOREDOO CUT TO NEUTRAL VS BUY AT GOLDMAN *PARTNER COMMUNICATIONS CUT TO SELL VS NEUTRAL AT GOLDMAN *PROSEGUR CUT TO NEUTRAL VS OVERWEIGHT AT JPMORGAN *SECURITAS CUT TO UNDERPERFORM VS NEUTRAL AT CREDIT SUISSE *SOLVTRANS RAISED TO BUY VS HOLD AT NORDEA *TATE & LYLE CUT TO HOLD VS ADD AT NUMIS *TESCO CUT TO NEUTRAL VS OVERWEIGHT AT HSBC *VOLVO CUT TO EQUALWEIGHT VS OVERWEIGHT AT BARCLAYS

Pt Changes

*Adidas PT Raised to EU92 vs EU87 at Raymond James *AEGON PT RAISED TO EU7 VS EU5.8 AT ING *Babcock Intl PT Raised to 1,500p from 1,300p at Cantor *BREMBO PT RAISED TO EU21 VS EU20 AT MEDIOBANCA; KEPT AT NEUTRAL *Commerzbank PT Raised to EU10.3 vs EU9 at Mediobanca *Finmeccanica PT Raised to EU5.15 vs EU4.95 at JPMorgan *Henkel PT Raised to EU91 vs EU86 at Raymond James *Mediaset PT Raised to EU3.65 vs EU3.3 at Nomura *MEDIASET PT RAISED 8% TO EU3.4 AT BARCLAYS; KEPT AT UNDERWEIGHT *MEDIASET PT RAISED TO EU3 VS EU2.8 AT SOCGEN; KEPT AT SELL *Mediolanum PT Raised to EU6.6 vs EU5.5 at Mediobanca *MEDIOLANUM PT RAISED TO EU6.9 VS EU6.2 AT BOFAML; KEPT AT BUY *Piaggio PT Raised to EU2.4 vs EU2.2 at Deutsche Bank

Initiation

*DUFRY ASSUMED OUTPERFORM AT CREDIT SUISSE, PT SFR170 *ETALON RATED NEW OVERWEIGHT AT JPMORGAN; PT $7 *PGNIG RATED NEW SELL AT ING *SISTEMA REINSTAED BUY AT GOLDMAN, PT $42.7

Country Sector Stock Call

*SSAB ADDED TO MORGAN STANLEY’S BEST IDEAS LIST

>>> What to look at today :

US Market closed slightly lower, opening near the lows and regaining during the all sessions...Tech Oputperformed today...VIX @ 12.82 +2.31%...Brazil-1.56%... China equity markets are leading regional indices lower as investors react to rather vague communique from the third plenary session of the 18th Central committee released overnight. In essence, Party leadership painted in broad trokes, with the most notable update being the transition toward a more decisive" market role in allocating resources from a "basic" role and also giving little hint on what it would do to deepen fiscal/tax reform and improve macroeconomic control. Separately, China securities regulator announced a light increase in NPL in the banking sector during Q3...Shanghai -1.8%...Japan Sept Machine Orders @ -2.1% vs -1.8% est. (1st decline in 3m)...Nikkei -0.15%...Hang Seng -1.49%

Eur$ 1.3435 S&P fut. -0.25% European Fut -0.33%

* UK Utilities : Davey Asks Big Six to Come Clean on Green Charge After EDF Rise {NSN MW6VZX6JTSEB <go>}

Keep ane eye on

- ABBN VX : ABB CEO Has ‘Several Billions’ for Acquisitions: Dagens Industri - AZA IM : Alitalia May Delay Share Sale to Extend Air France Talks: Sole - CARLB DC : Carlsberg 3Q Ebit Ex-Items In Line, Keeps 2013 Profit Forecast, Organic Beer Vol. Down 5%, Cuts 2013 Russia View - CLS1 GY : Celesio 3Q Ebit Misses Est.; Keeps 2013 Ebit Forecast - DOLP NO : Dolphin 3Q Sales Rise Less Than Est.; Maintains 2013 MC Tgt - ENEL IM : Sells Severner to Roseneft for $1.8B - EOAN GY : EON Narrows 2013 Ebitda, Underlying Net Income Upper Ranges - GLE FP : *SOCGEN'S OUDEA SAYS HE'S NOT GOING TO FINANCE MINISTRY - GSZ FP : GDF Suez 9-Month Ebitda In Line; Reaffirms 2013 Targets - HOT GY : Hochtief 9-Month Profit Rises; Confirms 2013 Forecast - IBAB BB : Ion Beam Reports 9m Rev. EU154.9m; Sees 2013 Rebit Margin 8% - ICA SS : ICA Gruppen 3Q Op. Profit Beats Ests. - LSG NO : Leroey Seafood 3Q Sales, Operating Profit Rise - MAERSKB DC : Maersk 3Q Net Beats Est.; Raises 2013 Net Outlook, Outlook Up as Container Costs Fall, Oil Price Rises - MS IM : Mediaset 3Q Rev. Beats, Bernstein Says, Reiterates Underperform - RCF FP : Teleperformance 3Q Organic Growth Beats Est, UBS Says; Lifts PT - RNO FP : *RENAULT, PEUGEOT 3Q FRENCH PRODUCTION DOWN 13%, ECHOS SAYS - SAZ GY : Stada 9-Month Adjusted Net Misses Estimate; Keeps 2013 Forecast - TFI FP : TF1 Wants to Resell Part of 2014 Soccer World Cup Rights: Figaro

Hitachi Offers to Buy Out Hitachi Medical for 1,800 Yen/Shr

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BN 11/13 06:05 *HITACHI NOW OWNS 63.15% OF VOTING RIGHTS IN HITACHI MEDICAL BFW 11/13 06:04 *HITACHI OFFERS TO BUY OUT HITACHI MEDICAL FOR 26.6B YEN BN 11/13 06:03 *HITACHI OFFERS TO BUY OUT HITACHI MEDICAL FOR 26.6B YEN BN 11/13 06:02 *HITACHI TO ACQUIRE HITACHI MEDICAL SHRS FOR 1,800 YEN EACH BN 11/13 06:01 *HITACHI TO BEGIN TENDER OFFER FOR HITACHI MEDICAL SHARES

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Hitachi Offers to Buy Out Hitachi Medical for 1,800 Yen/Shr 2013-11-13 06:11:48.626 GMT

By Marco Lui Nov. 13 (Bloomberg) -- Co. to pay as much as 26.6b yen in tender offer to acquire the shrs in unit Hitachi Medical it doesn’t already own, according to a statement to the Tokyo Stock Exchange today. * Price represents ~33.6% premium over closing price of 1,347 yen today: Bloomberg calculation * Hitachi Medical to be delisted after tender offer

Link to Company News:{6501 JP <Equity> CN <GO>} Link to Company News:{6910 JP <Equity> CN <GO>}

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

To contact the reporter on this story: Marco Lui in Tokyo at +81-3-3201-8963 or mlui11@bloomberg.net

To contact the editor responsible for this story: Gearoid Reidy at +81-3-3201-2141 or greidy1@bloomberg.net

>>> Asian Update

Asian Market Update: China equities disappointed by little detail from Party plenum; Australia wage growth slows further

***Observations/Insights*** - China equity markets are leading regional indices lower as investors react to a rather vague communique from the third plenary session of the 18th Central Committee released overnight. In essence, Party leadership painted in broad strokes, with the most notable update being the transition toward a more "decisive" market role in allocating resources from a "basic" role and also giving little hint on what it would do to deepen fiscal/tax reform and improve macroeconomic control. Separately, China securities regulator announced a slight increase in NPL in the banking sector during Q3. - Australia quarterly Wage growth figures were the most notable economic datapoint in the session, falling to a multi-year pace of growth on sequential basis. Analysts noted the slow growth allows RBA a bit more room to cut interest rates again if it wanted to, but any easing would likely not take place before 2014. - RBNZ financial stability report reiterated the kiwi dollar is elevated but affirmed its commitment to start raising rates in early 2014. RBNZ also noted it was still to early to determine the impact of LVR caps on the housing industry, with recent reports suggesting the measure may not be very effective in dealing with housing inflation as a factor of tight supply. - Yum was up slightly in extended session after Oct same store sales in China fell by a lower than expected margin. Shares are up over 10% in just over 3 weeks.

***Economic Data*** - (JP) JAPAN OCT DOMESTIC CGPI: M/M: -0.1% V -0.2%E; Y/Y: 2.5% V 2.5%E (2-year high) - (JP) JAPAN SEPT MACHINE ORDERS: M/M: -2.1% V -1.8%E (first decline in 3 months); Y/Y: 11.4% V 12.5%E - (JP) JAPAN SEPT LOANS & DISCOUNTS CORP 2.0% V 2.4% PRIOR - (AU) AUSTRALIA Q3 WAGE COST INDEX Q/Q: 0.5% V 0.7%E (multi-year low); Y/Y: 2.7% V 2.9%E - (AU) AUSTRALIA NOV WESTPAC CONSUMER CONFIDENCE INDEX: 110.3 V 108.3 PRIOR; M/M: +1.9% V -2.1% - (NZ) NEW ZEALAND OCT FOOD PRICES M/M: -1.0% V 0.0% PRIOR (7-month low) - (KR) SOUTH KOREA OCT BANK LENDING TO HOUSEHOLD (KRW): 474.4T V 472T PRIOR - (KR) SOUTH KOREA SEPT MONEY SUPPLY L M/M: 0.4% V 0.8% PRIOR; M2 M/M: 0.8% V -0.1% PRIOR - (KR) SOUTH KOREA OCT UNEMPLOYMENT RATE: 3.0% V 3.0%E

***Fixed Income/Commodities/Currencies*** - (CN) China MOF auctions 7-yr bonds, Avg yield 4.4515% v 4.1219% in early Sept - USD/CNY: (CN) PBoC sets yuan mid point at 6.1342 v 6.1360 prior setting (highest Yuan setting since Oct 27th) - (JP) BOJ offers to buy ¥400B in 5-10yr JGB and ¥200B in JGB with maturity over 10-yr - (AU) Australia MoF (AOFM) sells A$800M in 2023 Notes; avg yield: 4.1965%; bid-to-cover: 4.73x - (NZ) RBNZ gov Wheeler: China slowdown poses one of biggest risks for New Zealand - addressing parliament - GLD: SPDR Gold Trust ETF daily value at $35.7B, lowest level since Oct 2009

- US dollar trading slightly softer in the major pairs following a set of dovish comments from Fed's Lockhart and Kocherlakota late in teh US session, paring some of the recent gains in the wake of the strong employment report. USD/JPY fell about 30pips from late US session highs below 99.50, EUR/USD rose back to the technically-pivotal former support turned resistance 1.3450 level, while cable remains capped below 1.59 handle ahead of the UK employment and BOE inflation report. AUD/USD bounce back above 0.93 after initial decline following tepid Q3 wage growth data, and NZD/USD fell to near 2-month lows below 0.8170 after the RBNZ semiannual financial stability report early in the day.

***Speakers/Political/In the Papers*** - (CN) China Banking Regulatory Commission (CBRC): China banks end of Q3 loan-to-deposit ratio 65.63% v 65.17% q/q, Non-performing loan (NPL) ratio 0.97% v 0.96% q/q - Chinese press - (CN) China International Capital Corp (CICC) economist Peng: reiterates improvement of land transfer and tax systems could drive housing prices to reasonable levels - Comment on Plenum Communique - (CN) Former World Bank economist Lin: China 2014 GDP can probably grow by 7.5-8.0% - financial press - (CN) Goldman Sachs: China plenum is insufficient to drive domestic stocks higher - financial press - (CN) China fuel price change window may start on Nov 14th; Analysts estimate gasoline and diesel may be cut by approx CNY100/ton (3rd consecutive cut) - financial press - (CN) China Coal Transportation and Sale Society (CCTS): China Oct coal imports 24.37Mt, -5.3% m/m, +14.2% y/y - Chinese press

- (KR) South Korea Fin Min Hyun: South Korea to closely monitor financial markets - Yonhap - (KR) According to Korea's Financial Supervisory Service (FSS), capital adequacy ratio of South Korean banks in Q3 rose 0.38pts to 14.25% - Korean press - (KR) Korea Chamber of Commerce and Industry (KCCI): South Korea's retail market expected to grow 3% in 2014, reaching KRW276T - Korean press - (KR) South Korea state-run think tank Korea Development Institute (KDI): FX intervention is not necessary to keep current account surplus - Korean press

- (JP) BOJ's Miyao: Japan economy is recovering moderately; Somewhat cautious of downside risk to overall economy. - (AU) Barclays economist: Slower wage growth in Australia should reassure RBA that inflation outlook is mild - SMH

***Equities*** Market Snapshot (as of 04:30 GMT): - Nikkei225 -0.4%, S&P/ASX -1.3%, Kospi -1.4%, Shanghai Composite -0.8%, Hang Seng -1.3%, Dec S&P500 -0.4% at 1,758, Dec gold -0.1% at $1,270, Dec crude oil +0.1% at $93.14/brl

US markets: - SBUX: Concludes packaged coffee dispute with Kraft; Kraft is entitled to $2.23B in damages plus $527M in interest and attorneys fees [*Note: KRFT has agreement to direct the funds to its parent MDLZ]; -1.4% afterhours - YUM: Reports Oct China SSS -5% v -5.2%e; +0.7% afterhours - TSLA: CEO: I think TSLA stock looks like a pretty good deal now, may have been a bit too high before it came down - CNBC interview; +2.3% afterhours - MDLZ: Comments on $2.7B arbitration award to Kraft in SBUX dispute; MDLZ to use proceeds to add to share buyback program; +3.0% afterhours - SINA: Reports Q3 $0.42 v $0.33e, R$184.6M v $181Me; +4.1% afterhours - PBPB: Reports Q3 $0.15 v $0.09e, R$78M v $77.8Me; +14.0% afterhours - RLD: Reports Q2 -$0.09 v -$0.18e, R$43.9M v $42.6Me; +19.9% afterhours

Notable movers by sector: - Consumer discretionary: Uni-President China Holdings Ltd 220.HK +1.4% (9M results); Wynn Macau Ltd 1128.HK -1.6% (Q3 results) - Consumer staples: Warrnambool Cheese & Butter WCB.AU +5.4% (receives revised offer) - Industrials: Fuji Heavy Industries 7270.JP +0.9% (raises FY13/14 profit guidance); Kawasaki Heavy Industrials 7012.JP -1.2% (expansion plans); CSR Ltd CSR.AU +9.1% (H1 results); Leighton Holdings LEI.AU -3.0% (Q3 results); Jiangsu WELLE Environmental Co Ltd 300190.CN +1.4% (awarded contract); Shenzhen Inovance Technology Co Ltd 300124.CN -5.2% (controlling shareholders to sell stake) - Technology: Sony 6758.JP +3.2% (TV-tablet offer); Kingsoft Corp Ltd 3888.HK +1.1% (Q3 results); Tencent Holdings Ltd 700.HK -2.5% (Chairman comments on Company's valuation ahead of earnings) - Energy: Linc Energy LNC.AU -5.7% (values unit for de-merge)

FT : Starbucks ordered to pay Kraft $2.7bn

Starbucks ordered to pay Kraft $2.7bn

Starbucks has been ordered to pay $2.7bn in compensation to Kraft Foods – a charge equal to the coffee chain’s entire net income since the start of 2012 – for terminating a deal to let the food group distribute its coffee. An arbitrator ruled that Starbucks had to pay $2.23bn in damages plus $527m in other fees following a dispute that began in 2010 when Starbucks vowed to pull out of the deal under which Kraft sold its packaged coffee to supermarkets. Kraft, which argued that Starbucks’ move was a breach of contract, said it would pass the payment from the company to Mondelez, the renamed business from which it split off in October 2012. Starbucks said it would restate its latest earnings – released last month – "probably within the next 24 hours" because it would book the compensation costs for its financial year to the end of September 2013. For the year to September, Starbucks had reported net income of $1.7bn. In the nine months to September 2012, its net income was $1bn. Starbucks shares fell 1.45 per cent to $79.45 in after-market trading after news of the ruling emerged. Asked if Starbucks would appeal, a spokesman said: "We’ve just received the decision and we’re still reviewing it." Since 1998, Kraft had exclusive rights to market and distribute Starbucks’ roast and ground coffee to supermarkets and other stores. Gerd Pleuhs, general counsel of Mondelez, said in a statement: "We’re pleased that the arbitrator validated our position that Starbucks breached our successful and long-standing contractual relationship without proper compensation." Troy Alstead, Starbucks’ chief financial officer, said "we strongly disagree" with the arbitrator’s decision. When Starbucks said it planned to terminate the deal in November 2010 it complained that Kraft was not fulfilling its responsibilities and that the performance of its business had suffered as a result. Mr Alstead said that ending the deal was "the right decision for Starbucks, our brand and our shareholders" and that its "at home" coffee business was "significantly healthier [now] than it was before we assumed direct control from Kraft". Starbucks is relying on the expansion of its packaged coffee business – which had revenue of $1.4bn in the past 12 months – to offset slowing sales growth at its existing coffee shops. Mondelez said it would use the net proceeds from the arbitration to expand its $6bn share buyback programme, which it boosted by $4.8bn in August. The company has struggled since it was spun off from Kraft last year, failing to deliver the high growth executives had promised and making missteps in Russia and Brazil. Mondelez has also faced criticism from the likes of activist investor Nelson Peltz, who has attacked the company’s profit margins and urged PepsiCo to buy it.

>>>US After Hours

After Hours Summary: RLD +19.6%, CALL +14.3%, PEGA +11.3%, YRCW -30.1%, TELK -19.4%, FI -8.5% following earnings/guidance After Hours Gainers: Companies trading higher in after hours in reaction to earnings: RLD +19.6%, CALL +14.3%, PEGA +11.3%, PBPB +10.5%, SVA +8.5%, CVT +5.5%, TMHC +4%, LXFT +3.9%, SINA +3.4%, WX +1.9%, DSCO +1.9%, MDVN +1.1%, MPO +0.7%, WWD +0.4%, CPA +0.1%, MBI +0.1%, MO +0.1%, BC +0.1%

Companies trading higher in after hours in reaction to news: - CALL +14.4% (announced repurchase of $13 mln in stock and founder's exit from operations; co also reported earnings), - COSI +12.1% (adopted stockholder rights plan in response to recent trading activity in Così's shares and accumulations of significant portions of Così's outstanding common stock), - MDLZ +3.0% (independent arbitrator in the dispute between Kraft Foods and Starbucks ruled that Starbucks must pay more than $2.7 billion in total cash compensation for its unilateral termination of the companies' coffee contract; Kraft Foods Group will direct the net proceeds to Mondelez), - TSLA +2.0% (CEO Elon Musk discusses car fires; notes TSLA Model S cars are 5x less likely to have a fire than a gasoline car), - DSCO +1.9% (received FDA clearance of IND to initiate AEROSURF phase 2 clinical program; co also reported earnings), - ODP +1.5% (Ronald C. Smith appointed Chairman and CEO)

After Hours Losers:

Companies trading lower in after hours in reaction to earnings: YRCW -30.1%, TELK -19.4%, FI -8.5%, OXGN -7.7%, INTX -7.5%, CDXS -7%, ACFN -6%, TEAR -5.8%, DIOD -5.1%, SPPI -4.5%, NQ -4.3%, SUPN -3.2%, PRKR -3.2%, TC -2.3%, SWC -1.6%,EQIX -1.2%, CTB -0.1%

Companies trading lower in after hours in reaction to news: - SB -10.1% (announces public offering and concurrent private placement of common stock), - CHTP -9.3% (announcedpublic offering of common stock, size not disclosed), - BALT -8.6% (announced common stock offering; size not disclosed), - SNTA -6.3% (announced proposed public offering of common stock; size not disclosed), - BBEP -3.8% (commenced public offering of 15 mln common units representing limited partner interests in the Partnership), - BNNY -2.6% (announced secondary offering of common stock by Solera), - SBUX -1.4% (to pay ~$2.75 bln settlement to Kraft/Mondelez)

>>> US Close Dow-0,21% S&P-0,24% Nasdaq flat.

Closing Market Summary: Stocks Post Modest Losses The S&P 500 shed 0.2% after spending the entire session in negative territory. The index sold off steadily through the first four hours of action,but managed to regain most of its losses by the close. Meanwhile, the Nasdaq ended flat as the relative strength of technology (+0.3%) underpinned the index. The tech sector was one of just two advancers among cyclical groups as top components like Cisco Systems (CSCO 23.73, +0.29), Oracle (ORCL 34.70, +0.33),and Qualcomm (QCOM 68.51, +0.89) provided leadership. Chipmakers also rallied with the PHLX Semiconductor Index adding 0.6%. Elsewhere, the industrial sector settled just above its flat line with transports contributing to the outperformance. The Dow Jones Transportation Average rose 0.7% as airlines registered broad gains after AMR (AAMRQ 12.00, +2.48) and US Airways (LCC 23.52, +0.25) confirmed their settlement with the Department of Justice. JetBlue (JBLU 8.16, +0.47) was the leader among transports, climbing 6.1%. Although the S&P climbed off its lows during the final 90 minutes, the index was unable to return into positive territory as energy (-0.9%) and financials (-0.9%) weighed. The energy sector was pressured by persistent weakness in crude oil. The energy component settled lower by 2.1% at $93.12 per barrel.

Meanwhile, other commodities did not fare much better as copper (-1.2% at $3.22/lb), gold (-1.1% at $1267.50/ozt), and silver (-2.6% at $20.72/ozt) ended on their lows. Countercyclical sectors settled on a mixed note as consumer staples (+0.1%), health care (-0.1%), and telecom services (+0.3%) outperformed while utilities (-0.9%) lagged throughout the session. Treasuries ended modestly lower with the 10-yr yield up two basis points at 2.78%. Tomorrow, the weekly MBA Mortgage Index will be reported at 7:00 ET whil October export prices ex-agriculture and import prices ex-oil will be reported at 8:30 ET. The day's data will be topped off with the 14:00 ET release of the October Treasury budget.

o Nasdaq +29.8% YTD o Russell 2000 +29.7% YTD o S&P 500 +23.9% YTD o DJIA +20.2% YTD

Edenred Raises Low End of Issue Vol. Organic Growth Target

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Edenred Raises Low End of Issue Vol. Organic Growth Target 2013-11-12 17:35:03.700 GMT

By Jim Silver Nov. 12 (Bloomberg) -- Edenred raises goal for organic growth in issue vol. to 8%-14%/yr vs 6%-14% previously. * Seeks ratio of >50% in 2014 for LFL change in operating Ebit vs LFL change in operating rev. * Confirms target of >10% annual organic growth in funds from ops * Sees new clients contributing 3%-5% in issue vol. organic growth, previously saw 2%-5% Link to Statement:NSN MW5UEL3PWT1C <GO> Link to Company News:EDEN FP <Equity> CN <GO>

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

To contact the editor responsible for this story: Jim Silver at +1-212-617-7342 or jsilver@bloomberg.net

*BOFA, JPM PLACE 35M PROSIEBENSAT.1 MEDIA SHRS

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BN 11/12 17:39 *JPM COMMENTS ON PROSIEBENSAT.1 PLACEMENT IN E-MAIL BN 11/12 17:39 *BOFA, JPM JOINT BOOKRUNNERS ON PROSIEBENSAT.1 PLACEMENT BN 11/12 17:39 *BOFA, JPM PLACE PROSIEBENSAT.1 SHRS ON BEHALF OF LAVENA BN 11/12 17:38 *BOFA, JPM PLACE 35MM PROSIEBENSAT.1 MEDIA SHRS

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*BOFA, JPM PLACE 35M PROSIEBENSAT.1 MEDIA SHRS 2013-11-12 17:40:20.827 GMT

--JAMES LUDDEN

-0- Nov/12/2013 17:40 GMT

(BN) *EXOR ANNOUNCES PRIVATE PLACEMENT OF EU200M BOND

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BN 11/12 16:52 *EXOR SAYS BOND IS PART OF TOTAL EU1B AUTHORIZED BY BOARD

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*EXOR ANNOUNCES PRIVATE PLACEMENT OF EU200M BOND 2013-11-12 16:52:07.348 GMT

Borsa Italiana SPA story is accessible under the following tickers and industry codes:

{EXO IM Equity CN ITL <GO>} (Company News and Research)

{NI ?5463346 ITL <GO>} (News by Industry, Category or Region) {NI BON ITL <GO>} (News by Industry, Category or Region)

{NSN MW5TGW3PR6RK <GO>} (Story Link)

-0- Nov/12/2013 16:52 GMT