DAILY

3rd September 2013

PSI20: -0.28% DAX30: -0.77% FTSE100: -0.58% S&P500: +0.42% NIKKEI225: +2.99%
The president of CMVM (Portuguese Securities Market Supervisor and Regulator), Carlos Tavares, stated that the sale of complex derivative contracts, such as swaps, should be forbidden in Portugal More>> The corporate tax reform in Portugal, which includes a decrease from 31% to 29.5%, is expected to result in a 60 and 220 million euros tax revenue decrease in 2014 and 2015, respectively. More>> The Portuguese stock market dropped as investors took profits and after the Constitutional Court declared unconstitutional the special mobility measures for the public sector. More>> Microsoft agreed to buy Nokias handset unit and license its patents for 5.44 billion euros ($7.2 billion) , to gain share against Apple and Google. More>> European stocks declined as U.S. Speaker of the House John Boehner said he support s the presidents call for action against Syria. The Stoxx Europe 600 Index fell 0.4 percent to 301.78 at the close. More>> Construction activity in Britain grew at its fastest pace in almost six years in August. The Markit/CIP PMI for the sector came in at 59.1 in August, its highest level since September 2007. More>>

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U.S. stocks rose, following the worst month since May 2012 for the S&P 500 Index, as better-thanforecast economic data overshadowed concern over possible military action against Syria. More>> The U.S. manufacturing sector grew last month at its fastest pace in more than 2 years, bolstering expectations for faster overall U.S. growth in the second half of the year. More>> Construction spending in the U.S. increased in July to the highest level in four years, propelled by gains in residential real estate. More>>

Chinese Premier Li Keqiang said hes confident that the nation will achieve the years economic goals, adding to signs that China will meet 7.5% growth target. More>> Japan will tell G20 nations at a summit this week that it will proceed with a two-stage sales tax hike, and consider compiling an extra budget for fiscal spending to ease the pain in the economy. More>> Australias central bank kept its cash rate at a record low of 2.5% on Tuesday, a widely expected decision given it was just a month since the last easing and only days before the national elections. More>>

OIL (WTI 108.38 $/bl; +1.52% / Brent 115.70 $/bl; +1.24%) and Gold (1411.20 $/oz t; +1.26%): Oil and gold prices shot up after Republican lawmakers said they planned to support U.S. President Barack Obama's calls for limited military strikes against Syria. More on Oil>> More on Gold>> SOYBEANS (1385.88 $/bu; +2.17%): Soybean prices rose as updated weather forecasting models pointed to warm and dry weather across major soy-growing states in the Midwest during the next three-to-fivedays, fuelling concerns over potential crop damage. More >>

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