ETX Capital -From The Floor is a daily briefing and global market report to keep you informed as you trade

1. From The Floor
21 October 2011
Key Global Indices
UK Market Snapshot
Last 1D % 5D % 1M% 1Y%
Cl ose Chg Chg Chg Chg  UK markets declined yesterday, as investors remained apprehensive about
FTSE 100 5,384.7  -1.2% -0.3% 0.4% -6.0% the outcome of the forthcoming EU summit, amid reports of a rift between
DJSTOXX 50 2,228.9  -1.4% -1.2% 3.4% -12.9% France and Germany over the how to boost the eurozone rescue fund.
FTSEurofirst 300 954.3  -1.4% -1.3% 2.2% -12.2% Among, engineering stocks, IMI, the top laggard on the FTSE 100 index,
German DAX 30 5,766.5  -2.5% -2.5% 3.5% -11.6%
slumped 5.6%, while Weir Group fell 1.5%, dragged down on demand
French CAC 40 3,084.1  -2.3% -3.2% 3.4% -19.4%
concerns. Mining stocks, Anglo American and Kazakhmys slid 4.0% and 5.0%,
Russia RTS Index 1,423.2  -1.1% 1.9% -7.3% -8.6%
S&P 500 1,215.4  0.5% 1.0% 1.1% 3.2%
respectively, as base metal prices fell. Rio Tinto lost 3.9%, as Natixis
Dow Jones Industrials 11,541.8  0.3% 0.6% 1.2% 3.9%
downgraded the stock to “Neutral” from “Buy”, while Antofagasta slipped
Nasdaq Composite 2,598.6  -0.2% -0.8% 0.3% 5.7% 3.4%, after Tethyan Copper, its joint venture with Barrick Gold, failed to get
Brazil Bovespa 54,010.0  -1.7% -1.1% -4.2% -23.3% an extension for extraction in Baluchistan region. Energy stocks, BP, BG
Nikkei 225* 8,673.4  -0.1% -1.6% -0.4% -7.5% Group and Tullow Oil retreated between 1.6% and 3.6%, as oil prices lost
Shanghai Composite* 2,318.0  -0.6% -0.6% -4.8% -22.4% ground. FTSE 100 fell 1.2% to 5,384.7, while FTSE 250 shed 1.2% to 10,111.1.
Sensex* 16,941.1  0.0% 0.3% -0.9% -14.8%
*Time - BST 5:20:16 AM
European Market Snapshot
 Other European stocks closed lower yesterday, as disagreement between
5,460 Germany and France over how to boost the European Financial Stability
Fund hampered market sentiments, increasing concerns that a resolution to
5,435 the European debt crisis might get delayed. Banks, Intesa Sanpaolo and
UniCredit, fell 9.8% and 12.0%, respectively, after Fitch Ratings stated that
5,410 prospects for Italy’s five largest banks “have significantly deteriorated”.
Deutsche bank dropped 5.5%, after it lost a bid to reclassify $2.4 billion in
5,385 claims on Lehman Brothers Holdings. Utilities, RWE and EON, dropped 5.2%
and 5.8%, respectively, after Kepler Equities downgraded both the stocks to
5,360 “Reduce” from “Buy”. Schneider Electric slumped 7.6%, after the company
8:00 9:45 11:30 13:15 15:00 16:35
lowered its 2011 profit target for the second time in four months.
FTSEurofirst 300 index slipped 1.4% to 954.3. German DAX Xetra 30 fell
2.5% to 5,766.5. French CAC-40 dropped 2.3% to close at 3,084.1.
US Market Snapshot
11,590
11,540
 US markets finished mostly higher yesterday, recovering from earlier session
losses, as German and French leaders agreed to provide a “comprehensive”
11,490
solution to the European debt crisis, ahead of the EU summit. Fifth Third
Bancorp, the top gainer on the S&P 500 index, surged 9.1%, after its net
11,440
income jumped more than doubled and profitability of loans improved in the
third quarter. Nokia jumped 6.2%, after it reported a smaller-than-expected
11,390
9:30 10:45 12:00 13:15 14:30 15:45 drop in its third-quarter profits. Philip Morris jumped 3.3%, after it raised
prices in Japan. However, NASDAQ closed lower, led by a decline in
technology sector stocks. Voice communications solutions provider, Polycom,
the top laggard on the NASDAQ, slumped 25.2%, as its third-quarter
8,698
earnings fell short of market expectations. Dell fell 5.4%, amid concerns that
flooding in Thailand could disrupt some electronic parts production for
8,689
several quarters ahead. DJIA edged up 0.3% to 11,541.8. NASDAQ fell 0.2%
to 2,598.6. S&P 500 gained 0.5% to 1,215.4.
8,680
8,671 Asian Market Snapshot
 Asian markets are trading mixed this morning, as investors remained
8,662
9:00 9:45 10:30 11:15
cautious over the prospects for Europe's bailout plan after reports stated
that a final proposal has delayed until Wednesday. In Japan, carmaker,
Mitsubishi Motors gained value after a report in the Nikkei business daily
Manoj Ladwa 0207 392 1487
stated that the company’s operating profit would quadruple for April-
Index and Equity Desk 0207 392 1479
September period. In Hong Kong, Citic Resources Holding traded higher
Institutional Equities 0207 392 1477 after it accepted a bid from Peabody Energy and ArcelorMittal for its stake
Commodities 0207 392 1403 in Australia's Macarthur Coal. China Mobile lost value, after the company
Options 0207 392 1472 posted lower-than-expected rise in profit for January-September period. In
Currencies 0207 392 1455 South Korea, Korea gas rose after it discovered natural gas at a test well off
Internet Dealing Desk 0207 392 1434
Mozambique. LG Display gained value after positive comments from brokers.
Nikkei 225 index is trading 0.1% lower, at 8,673.4. Hang Seng index gained
0.1%, to trade at 17,997.8, while the Kospi index is trading 1.1% up, at
1,824.7.
ETX Capital, Beaufort House, 15 St Botolph Street, London EC3A 7DT Tel+44 (0) 207 392 1453
customerservice@etxcapital.co.uk www.etxcapital.com Refer to the last page for disclaimer

2. 21 October 2011
Commodities
87.0
1645.0 7,650 2,220
86.2 1634.8 7,425 2,193
$/ M T
$/ b b l
7,200 2,165
$ /OZ
85.4 1624.5
6,975 2,138
84.6
1614.3
6,750 2,110
83.8
0:00 7:20 13:10 21:10 1604.0 6-Oct 11-Oct 14-Oct 19-Oct
0:00 5:40 11:20 17:00 23:00 Copper - LHS Aluminium - RHS
 In Asia, crude oil for December delivery is trading 40 cents higher at $86.47 per barrel. Yesterday, crude oil for December
delivery closed 0.25% or 22 cents lower at $86.07 per barrel. Crude oil for November delivery contract expired at $85.30 per
barrel, down 81cents, or 0.94%, amid worries that disagreement between Germany and France over the bailout strategy could
derail the pace of the economic recovery, dampening the outlook for oil consumption.
 Gold for immediate delivery is trading 0.5% lower today, at $1,625.93 per ounce. Gold prices for December delivery declined
2.1% or $34.10 to $1,612.90 per ounce yesterday, extending its losing streak to a fourth session, as some encouraging US
economic data dimmed the demand for gold as a safe haven.
Currencies
1.1510 1.5840 1.3840
1.1485 1.5800 1.3790
1.1460 1.5760 1.3740
1.1435 1.5720
1.3690
1.1410 1.5680
1.3640
0:00 6:40 13:20 20:00 2:40 0:00 6:40 13:20 20:00 2:40
0:00 6:40 13:20 20:00 2:40
 At 0400 BST today, the GBP is trading marginally higher against the USD at $1.5806, 0.1% higher against the EUR at €1.1471
and 0.1% lower against the JPY at ¥121.35.
 The EUR is trading 0.1% lower against the USD at $1.3779, amid concerns that European leaders would struggle to resolve the
eurozone debt crisis. The EUR also fell, amid speculation that German business confidence fell in October to the lowest level in
more than a year.
 The EUR is trading 0.2% lower against the JPY at ¥105.80.
 The JPY is trading higher against the major currencies, as investors speculated over European leaders’ ability to resolve the
eurozone debt crisis, increasing demand for safer assets.
 The AUD and NZD are trading lower against the USD, as ongoing worries over the Eurozone debt crisis dampened the demand
for high yielding assets.
 Yesterday, the GBP ended higher against the USD, after the UK Office for National Statistics reported that retail sales rose
much more than expected in September. The GBP also rose as a draft document showed the bailout fund might be authorized
to provide additional funds to nations such as Italy and Spain.
 The EUR ended higher against the USD, amid optimism that European leaders would be able to solve the eurozone debt crisis
next week, after Germany and France jointly stated that they would discuss a comprehensive solution to the euro zone crisis at
their weekend summit, though no decisions would be adopted before a second meeting next week.
2 From The Floor Refer to the last page for disclaimer

3. 21 October 2011
Key Economic Releases Today
Country BST E c onomi c Indi c a tor Conse nsus P re vi ous Fre que nc y
UK 0:01 Nationwide Consumer Confidence (Sep) 45.00* 48.00 Monthly
UK 9:30 PSNB Excluding Interventions (Sep) £15.00 bn £15.90 bn Monthly
UK 9:30 Public Finances (PSNCR) (Sep) £18.00 bn £11.80 bn Monthly
UK 9:30 Public Sector Net Borrowing (Sep) £11.80 bn £13.20 bn Monthly
Germany 9:00 IFO - Business Climate (Oct) 106.30 107.50 Monthly
Germany 9:00 IFO - Current Assessment (Oct) 116.50 117.90 Monthly
Germany 9:00 IFO - Expectations (Oct) 97.00 98.00 Monthly
France 7:45 Business Confidence Indicator (Oct) 98.00 99.00 Monthly
France 7:45 Own-Company Production Outlook (Oct) - 4.00 Monthly
France 7:45 Production Outlook Indicator (Oct) - -29.00 Monthly
Eurozone - EcoFin Meeting - - -
Eurozone 10:00 Government Debt-GDP Ratio (2010) - 85.10% Bi-Annual
Switzerland 8:00 Real Estate Index Family Homes (Q3) - 396.30 Quarterly
Switzerland 8:00 Money Supply M3 (YoY) (Sep) - 7.60% Monthly
Fed's Kocherlakota Speaks on Economic Education in
US 1:00 - - -
Minneapolis
US 18:00 Fed's Kocherlakota Speaks in Minneapolis - - -
Canada 12:00 Consumer Price Index (MoM) (Sep) 0.10% 0.30% Monthly
Canada 12:00 Consumer Price Index (YoY) (Sep) 3.00% 3.10% Monthly
Canada 12:00 Bank Canada Consumer Price Index Core (MoM) (Sep) 0.20% 0.40% Monthly
Canada 12:00 Bank Canada Consumer Price Index Core (YoY) (Sep) 1.90% 1.90% Monthly
Canada 12:00 Consumer Price Index (Sep) - 120.30 Monthly
Re a l G D P - YoY CP I - YoY 10 Ye a r Bond Yi e l d 3.00%
UK 0.7% 5.2% 2.6%
US 1.6% 3.9% 2.3% 1.38%
Japan -1.0% 0.2% 1.0%
-0.25%
France 1.6% 2.2% 3.1%
Germany 2.7% 2.6% 2.2%
-1.88%
Brazil 3.1% 7.3% 4.0%
Russia 3.4% 7.2% 6.0% -3.50%
Oct-09
Apr-10
Jun-10
Apr-11
Jun-11
Dec-09
Aug-10
Oct-10
Feb-10
Dec-10
Aug-11
Feb-11
India 7.7% 9.0% 8.8%
China 9.1% 6.1% 3.8%
3 From The Floor Refer to the last page for disclaimer

4. 21 October 2011
Key Corporate Releases Today
UK
Compa ny N a me Re sul ts Curre nc y Ful l Ye a r Conse nsus
E sti ma te d E PS E sti ma te d Re ve nue (Mn)
Aberdeen New Thai Investment Trust Interim GBP - -
Note: All Estimates are for Full Year
Rank Group, Aggreko, Provident Financial Plc
Polo Resources Ltd. (DI), Unitech Corporate Parks, Abcam Plc
Leni Gas & Oil, Real Estate Credit Investments PCC Ltd, Unitech Corporate Parks
City of London Investment Group, Dart Group, Datang International Power Generation Co Ltd., Games Workshop
Group, Tricorn Group
Admiral Group, AG Barr, Charlemagne Capital Ltd., CRH, EMIS Group, H.R. Owen, Highland Gold Mining Ltd., Invesco
Perpetual UK Small Companies Inv Trust, John Laing Infrastructure, Kentz Corporation Ltd., office2office, Petrofac Ltd.,
Robert Walters, Treatt, Tribal Group, Personal Assets Trust, Real Estate Credit Investments PCC Ltd
Europe
Compa ny N a me Re sul ts Curre nc y Ful l Ye a r Conse nsus
E sti ma te d E P S E sti ma te d Re ve nue (Mn)
Scania Ab Q3 SEK 12.12 88,872.90
Yara International Asa Q3 NOK 34.90 80,146.00
Atlas Copco Ab Q3 SEK 10.23 79,683.60
Alfa Laval Ab Q3 SEK 8.57 28,134.80
Safran Sa Q3 Sales EUR 1.75 11,865.40
Note: All Estimates are for Full Year
US
Compa ny N a me Re sul ts Curre nc y Ful l Ye a r Conse nsus Re l e a se
E sti ma te d E P S E sti ma te d Re ve nue (Mn) T i me
General Electric Company Q3 USD 1.38 148,210.00 D
Verizon Communications Inc Q3 USD 2.22 110,740.00 D
Schlumberger NV Q3 USD 3.78 39,550.00 B
Honeywell International Inc Q3 USD 3.97 36,710.00 U
Manpower Inc Q3 USD 3.17 22,160.00 U
No te: A ll Estimates are fo r Full Year (A = A fter the market clo ses, B = B efo re the market o pens, D = During market ho urs, U = Time unkno wn )
4 From The Floor Refer to the last page for disclaimer

5. 21 October 2011
What’s Hot & What’s Not
G4S IMI -5.6%
3.2%
2.9% Next Kazakhmys -5.0%
Man Group -4.8%
2.1% British Sky Broadcasting
1.7% Kingfisher ITV -4.6%
1.3% Compass Group Lloyds Banking Group -4.5%
Marks and Spencer Group Aviva -4.5%
1.1%
1.1% Associated British Foods Barclays -4.2%
GlaxoSmithKline Hammerson -4.0%
1.1%
1.0% Reckitt Benckiser Group Anglo American -4.0%
1.0% Imperial Tobacco Group Rio Tinto -3.9%
0.0% 0.9% 1.9% 2.8% 3.7% -6.1% -4.6% -3.1% -1.5% 0.0%
Major Movers & Shakers
 Miners, Kazakhmys and Rio Tinto lost 5.0% and 3.9% respectively, as copper for December delivery retreated 6.2% to $3.06 per
pound.
 Anglo American declined 4.0%, after the company reported a weak third-quarter production report.
 G4S advanced 3.2%, after its leading shareholder stated that it would vote against the company’s $8 billion bid for facilities
management company ISS.
 Retailers, Next and Kingfisher rose 2.9% and 1.7% respectively, after their sector peer, Debenhams reported a rise in its full-year
profit.
5 From The Floor Refer to the last page for disclaimer

6. 21 October 2011
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6 From The Floor