Market Gazer Hong Kong - Japan - Germany - UK - North America

market review : Europe & U.S.

BP planned to sell its unit in Argentina to
CNOOC. The asset will be priced at £6.3
The Dow Jones Index was
billion.
almost flat as the index
closed at 11,010.34, or up
Barclays Capital unit
0.04%. Nasdaq Composite
is seen falling 10% to
finished at 2,403.33, or up
20% in Q3, according
0.02% while S&P 500 was at 1,165.32 by the
to Daily Mail.
end of U.S. session. European shares did
better as the FTSE ended 0.26% up at
HSBC is set to sell the Eversholt train leasing
5,672.40 and DAX closed at 6,309.51 or up
division at the price of £2 billion.
0.28%. The key theme remained the
assumption that the Fed will deliver an
Siemens may request for aid in developing its
economic stimulus by buying more debt to
boost the economy. Analyst from UBS solar electricity generators in the Sahara.
predicted that the FOMC will buy $35 billion
Commerzbank’s low price had led to the
to $65 billion per month when the Board
cancellation of a planned rights issue.
meets on November 2nd and 3rd.

BASF’s Wintershall unit will join the South

IMF’s annual meeting ended with no clear
solution over the frictions among key Stream gas pipeline project.
countries over exchange rates, especially
Bayer’s Qlaira, a treatment of heavy
between U.S. and China. While in the end the
menstrual bleeding, has gained approval from
ministers agreed to improve cooperation on
European regulators, meaning it won’t be
the issue, there still some great uncertainty
long until the product will be available in
regarding how to bridge the diverging
Europe.
interests. Criticism over China by the U.S.’s
Timothy Geithner and also ECB’s boss Jean-
Daimler recalled 85,000
Claude Trichet had been countered by PBOC’s
cars due to steering
governor Zhou Xiaochuan as he argued that
problem while it was also
China’s exchange-rate policy is based on
said that the company aims to purchase a
supply and demand. IMF, at the end of the
stake in Kamaz, a truck manufacturer based in
day, was appointed to study the impact of
one economy’s policy on the others. These Russia.
will include U.S., China, U.K. and the
ThyssenKrupp’s CEO Ekkehard Schulz said that
Eurozone.
the company reported an anticipated pretax
profit about €1 billion. A year earlier, cost
Volkswagen AG was said to be
cutting turned pretax into a loss of €2.4
increasing the production
capacity of its vehicles and also billion. For fiscal 2010 sales, the projection
showed a rise from €40.6 billion to €42 billion.
its components in Germany,
particularly in Wolfsburg and Kassel.
Volkswagen was at 80.17 by the end of the Attempting to reclaim the market shares lost
to Apple and Google, Microsoft launched
day, down 0.22%.
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11 October 2010 Page 1
 Market Gazer Hong Kong - Japan - Germany - UK - North America

nine new phones which will be available

through AT&T Inc. and Deutsche Telekom
AG’s T-Mobile USA. Sales in U.S. will start on
November 8th, while in Europe the sales will
start on October 21st. According to Microsoft,
the CDMA version will not be released until
next year.

BP was cut from BUY to

HOLD by RBS, BT Group also
cut from MARKET PERFORM
to UNDERPERFORM by
Bernstein. Prudential however, fell from
NEUTRAL to UNDERWEIGHT at JP Morgan
Chase.

Intel will be the focus

of Tuesday’s trade as
the earnings for 3Q
will be released at
midday in U.S. The
consensus estimate sees EPS at 50 cents
against last year’s 33 cents. Intel had warned
that the semiconductor market would be
sluggish and the surprise this time should be
on the upside should the reading showed a
surprise beyond 50 cents.

Disclaimer: This report is provided for information purposes

only. It is not an offer to sell or to buy any securities. This
report has been prepared based on sources believed to be
reliable, but there is no assurance or guarantee regarding its
completeness & and accuracy. The author accepts no
responsibility or liability arising from any use of the report.

E-mail: market.techspeak@gmail.com
11 October 2010 Page 2