The Round Up is a comprehensive
daily note produced by the RBS
Warrants team providing an overview
of market movements along with
quality ideas for warrant traders and
investors.

InvestorsfledequitiesandflockedtoUSTreasurieswhichsawtheDowwasoff349pts,downnearly1,000pointsatone
stageaftersomeerroneoustrades,asinvestorscontinuedtoworryabouttheflowoneffectsofGreek,andEuropean,
debtproblems.TheS&Pwasoff3.2%andtheNasdaqfell3.4%.

Eco-OngoingpositivenewsflowfromUSeconomicdatawasbrushedaside.Non-FarmProductivitywas+3.6%vs
+2.6%expectedwhileUnitLabourCostswerelowerthanexpected.InitialJoblessClaimswere444kvs440kexpected
butdownfrom451priorandContinuingClaimswere4594kvs4610kexpectedanddownfrom4653kprior.

Financials-ThesectorslumpedasfundmanagersworriedthatTrichetwasnotdoingenoughtostepinand
supportliquidityinEurope.BoAwastheworstontheDowoff7.1%,JP'sfell4.3%andontheS&PMSdropped5.6%,
WellsFargowas4.5%lowerandGoldmansendeddown4%.

TheFTSEshed81pointsasbanksandminersfacedcontinuedpressureovercontagionfearsandlowermetalprices.
InvestorsweredisappointedashopesthattheECBwouldpurchaseEuropeandebttocalmthesituationwerequelled.
WiththeUKcurrentlyatthepollsinvestorsarepausedwiththeirfingeronthetriggerasahungparliamentandweakUS
non-farmspayrolldatacouldleadtoanotherheftyselloff.Themarketfinishedtheday-1.5%,theDAX-0.8%andtheCAC
-2.2%.

Banks-BankswerethebiggestweightonthemarketwithEuropeanuncertaintycontinuingtodamagetheir
attractiveness.Barclays,RBS,StandardChartered,HSBCandLloydsalloff3.7%to6.5%removing40pointsfromthe
market.

TheEurofellto15monthhighsagainstthegreenbackand8yrlowsagainsttheyen.IntheUKPMIserviceswerelower
at55.3vs.57expwhileinGermanyfactoryorderswere5%vs.1.4%.Eurostockswereoffacrosstheboardwiththe
FTSEAllWorlddown3%.

Miners-Minerscontinuedtheirfreefallasthe$USralliedtorecenthighsandglobalconcernscontinuetohauntthe
broadermarket.ENRC,BHP,RIO,Anglo,Vedantaoff0.7%to3.9%.
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