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Asia

Equity markets have seen mixed trade during the overnight session. The Nikkei 225 has been today’s outperformer, touching its highest level since April 2010 amid comments from the BoJ’s governor Shirakawa, who said the central bank will pursue powerful monetary easing. Meanwhile in China, Shanghai Comp. is firmly trading in positive territory, heading for the highest close since the June 1st 2012. Elsewhere, the ASX 200 pared its early gains, to close down by 0.20%. (RANsquawk)

Best Performing Sectors in the Nikkei 225: Healthcare (+2.21%), Utilities (+1.95%), Oil & Gas (+0.95%)

Best Performing Stocks in the Nikkei 225: Olympus Corp (+7.67%), JTEKT Corp (+6.15%), Mitsubishi (+5.78%)

Worst Performing Sectors in the Nikkei 225: Industrials (+0.10%), Technology (+0.44%), Telecommunications (+0.53%)

Worst Performing Stocks in the Nikkei 225: Sky Perfect JSA (-3.73%), Mitsui Engineering (-3.40%), , FANUC Corp (-3.39%), 

FTSE

Rio Tinto - Co. reported Q4 iron ore output of 51.97MT Vs. Exp. 50.6MT and mined copper production in 2012 is up 6% from the previous year. Co. achieved record annual iron ore output and shipments. In other news, Co. approved a major expansion of its Australian iron ore mines as Iron ore prices rebound. (Newswires)

RBS - Co. said to hold talks with Yes bank for sale of assets in India. ( newswires)

Burberry - Co.'s Q3 Total Revenue GBP 613mln vs. Exp. GBP 601.4mln. Q3 retails comparable sales up 6% vs. Exp. 0.7%, up 1% in Q2. Co. says sees FY 2012/13 licensing revenue 'broadly' unchanged. (Newswires)

Smith & Nephew - Co. says remains on track for strong growth in Adj. Pre-tax profit. Says underlying pbt for FY through August is in line with market consensus. (Newswires)

Anglo American - Co.'s platinum unit labour leader says of proposed mine closure: " Nothing like this will be allowed" (Newswires)

OTHER UK COMPANIES

Michael Page - Co.'s FY gross profit GBP 526.8mln, operating profit expected to be about GBP 65mln.

DAX

Bayer - The European Food Safety Authority, which assesses food and feed safety risks, is currently studying seed treatments made by the Co. that have been blamed for lowering populations of honey bees which pollinate crops. (Newswires)

Allianz - Co. says outlook has unchanged despite hit from hurricane Sandy. (Newswires)

Daimler - Co. is to maintain 40% dividend payout ratio according to CEO Zetsche. Says can grow in Europe in 2013 with new models. (Newswires)

EON - Co. sells stake in Slovensky Plynarensky Priemyself for EUR 1.3bln. (Newswires)

OTHER GERMAN

Sky Deutschland - News Corp. have taken a majority stake in Co. saying it would raise its holding to 54.5% from just under half its capital increase. (Newswires)

Porsche - Co. says sales target could be exceeded already in 2015 or 2016. Says wants to reach annual sales of 200,000 cars before 2018 and China could become biggest Porsche market in 2-3 years. (Newswires)

CAC

EDF - The French government is to Co. EUR 4.9bln to cover costs related to subsidies for green energy and for the poor, eliminating a key area of financial uncertainty for investors. (Newswires) In other news, Co. is to make EUR 1bln cost savings plan announcement next month. Co. says plans to cut costs in information systems and suppliers. ( Le Figaro)

GDF Suez - Co. to close five gas power plants in Netherlands and Hungary. The plants have a capacity of 2.1 gigawatts. (Les Echos) In other news, Co. sells stake which it holds together with EON, in Slovensky Plynarensky Priemyself for EUR 1.3

OTHER FRENCH COMPANIES

Suez Environment - Co. wins EUR 850mln Poland contract (Les Echos)

Alcatel-Lucent - Co. may sell its submarine cable division in H1 of 2013. (Newswires)

Pan-European

Spanish Banks - According to press reports Spanish banks are said to be ready to start repaying EUR 300bln of ECB loans. (Expansion)

Fiat - CEO says Co. has enough cash to buy Chrysler stake. Chrysler US sales chief also says Chrysler doesn't see double-digit sales growth in US in 2013. (Newswires)

Telecom Italia - Co. weighs revised Clessindra bid for its media unit. Clessindra revised offer after Co. sought binding bids for media assets. Clessindra had previously valued the Co.'s Media unit at EUR 300mln. (Sole)

ENI - Co. launches EUR 1.25bln bond convertible into Snam shares. (Newswires)

Pirelli - Allianz will renew its membership with co., which will last one year, down from a previous 3 years. (Sole 24 Ore)

Companies Paying Dividend: Repsol ( EUR 0.473)

Companies Going Ex Dividend: Banco Santander (EUR 0.152)

SMI

Syngenta - The European Food Safety Authority, which assesses food and feed safety risks, is currently studying seed treatments made by the Co. that have been blamed for lowering populations of honey bees which pollinate crops. (Newswires)

Geberit - Co. says 2012 rise 3.1% to CHF 2.1bln vs. Exp. 2.13bln, after FX adjustments rise of 4.15% which was within medium term target range. Sees FY12 operating cash flow margin between 24% to 25%, at upper end of medium term target range of 23% to 25%. ( Newswires)

Scandinavia

Maersk - Co. says more Asia-Europe rate rises are needed. Co. says a further increase of USD 300 to USD 500 per TEU needed before Asia-Europe daily Maersk service is profitable. (Borsen)

H&M - Co.'s sales up 8% vs. Exp. 5.1% . Same store sales down 2% vs. Exp. -4.1%, total number of stores Y/Y 2,809 vs. Prev. 2490. (Newswires)

Broker Recommendations

HSBC ADDED TO CREDIT SUISSE FOCUS LIST

PEARSON ADDED TO UBS MOST PREFERRED MEDIA SHRS

REED ELSEVIER REMOVED FROM UBS MOST PREFERRED MEDIA SHRS

SEGRO CUT TO EQUALWEIGHT FROM OVERWEIGHT AT BARCLAYS

ARM REMOVED FROM EUROPE BEST IDEAS AT MORGAN STANLEY

VINCI REMOVED FROM CONVICTION BUY AT GOLDMAN; STILL RATED BUY

AIR LIQUIDE, LINDE CUT TO UNDERPERFORM FROM NEUTRAL AT BOFAML

LAGARDERE REMOVED FROM UBS MOST PREFERRED MEDIA SHRS

JCDECAUX ADDED TO UBS MOST PREFERRED MEDIA SHRS

RWE Cut to Neutral from Outperform at Exane

INFINEON RAISED TO OUTPERFORM FROM NEUTRAL AT EXANE

LUFTHANSA RAISED TO NEUTRAL FROM UNDERPERFORM AT BOFAML

K+S CUT TO NEUTRAL FROM BUY AT BOFAML

INTESA RAISED TO OUTPERFORM FROM NEUTRAL AT CREDIT SUISSE

TNT EXPRESS CUT TO NEUTRAL FROM BUY AT CITIGROUP

CREDIT SUISSE RAISED TO OUTPERFORM FROM NEUTRAL AT EXANE

NORDEA CUT TO SELL FROM HOLD AT DEUTSCHE BANK

US

The DJIA outperformed its peers settling in minor positive territory while the S&P 500 and the Nasdaq settled in negative territory in a session of thin volumes, light news-flow and lack of macro economic data. Investor sentiment was weighed on by the looming debt ceiling with downside pressure evident across US equities in the run up to President Obama’s press conference at 1630GMT regarding the debt ceiling. In terms of sectors 6/10 finished in the red with Technology down 0.90% weighed upon by Apple who were hit by demand concerns. Apple’s shares dropped 3.83% after reports from suppliers that they cut orders for LCD screens and other components for the iPhone 5 this quarter due to weak demand. The Technology sectors losses were tempered by gains in Dell who rose almost 13% after source comments of a private equity takeover, this news also boosted Hewlett Packard who saw gains of 5%, which in turn advanced the Dow. Finally, the DJIA finished up 0.16% at 13509.93 the S&P 500 finished down 0.08% at 1470.82 and the NASDAQ 100 finished down 0.46% at 2735.70.

Apple - Ipad Mini will be available in China on Jan. 18. (Newswires) Apple iPhone 5 order cuts 'exaggerated' and mainly on over-buying, according to Barclays. (Newswires)

Morgan Stanley - Co. is said to pare Asia investment bank jobs 15%. (Newswires)

Best Performing Sectors in the S&P 500: Consumer Goods (+0.41%), Industrials (+0.29%), Health Care (0.21%)

Worst Performing Sectors in the S&P 500: Telecommunications (-1.06%), Technology (-0.80%), Financials (-0.27%)

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