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Asia

The Nikkei 225 reversed morning gains and was down sharply after reopening from the break with touted unwinding of longs on Japanese stocks by macro funds. Afterwards, a risk-off tone spread across asset classes, driving the Hang Seng into negative territory ahead of tomorrow’s Chinese Q4 GDP release. A disappointing Australian employment data failed to depress the bullish sentiment in the ASX 200, closing up by 0.57%, led by technology sector echoing the US session. Finally, the Nikkei 225 traded back to minor positive territory again following Japanese Economic minister Amari's comments, saying JPY is still in process of correcting from excessive strength and he hopes BoJ will understand PM Abe's strong hopes it will adopt 2% inflation target. (RANsquawk)

Best Performing Sectors in the Nikkei 225: Telecommunications (+1.81%), Utilities (+1.00%), Consumer Goods (+0.58%)

Best Performing Stocks in the Nikkei 225: Sharp (+7.30%), Sony (+5.68%), NEC (+5.00%)

Worst Performing Sectors in the Nikkei 225: Financials (-0.84%), Technology (-0.50%), Industrials (-0.18%)

Worst Performing Stocks in the Nikkei 225: Unitika (-5.66%), GS Yuasa (-4.98%), Obayashi (-4.25%)

FTSE

Vodafone - Co. seeks deal with India over USD 2.6bln tax bill. (FT-more) 

BP - Co.'s USD 4bln deal will end firm's criminal exposure to the Macondo spill. (Newswires)

Rio Tinto - Co. says Tom Albanese stepped down as CEO. Co. says to take an impairment charge of about USD 14bln. Co. names Iron ore Chief Executive as the new CEO. (Newswires)

Anglo American - Co.'s Platinum unit strike at the mines in South Africa has now ended. (Newswires)

Associated British Foods - Co. says groups revenue for the first 16 weeks was 10% ahead of last year. Co. now sees more progress in FY Adj. profit, with improvement heavily weighted towards H1. Says Primark sales were above expectations, 25% ahead of same period last year. (Newswires)

Aberdeen Asset Management - Co. says assets under management at GBP 193.4bln (30 September 2012: GBP 187.2bln). Says inflows mainly into higher margin pooled funds while outflows mainly from lower margin segregated portfolios. (Newswires)

Shire - According to press reports Astrazeneca may bid for Co. (Daily Mail)

United Utilities - According to press reports PE firms may bid for Co. (Daily Mail)

OTHER UK COMPANIES

African Barrick - Q4 Gold production was 180,684 oz, annual, with annual attributable output 626,212 oz, meeting reduced guidance range. Co. says production increases in Q4 due to improved throughput in Buzwagi, increased head grade at both North Mara and Buzwagi. (Newswires)

Home Retail - Co. sees FY benchmark pre-tax profit GBP 10mln ahead of the current market consensus of GBP 73mln. (Newswires)

Premier Oil - Co. sees 2013 average production increasing to 65-70, 000 BPD. (Newswires)

DAX

Deutsche Bank - Co.'s Co-CEO says it is too early so say if normality to return in 2013 and it has become harder to make forecasts. (Newswires)

ThyssenKrupp - Co. has received bids for its Americas plants; Brazil's CSN bids USD 3.8bln, ArcelorMittal bids USD 1.5bln and Nucor bids USD 1.5bln. (Newswires)

Deutsche Boerse - S&P affirms co. at AA. (Newswires)

CAC

L'Oreal - Co.'s CEO says revenue grew faster than market in 2012 and very confident and ambitious for 2013. (Newswires)

ArcelorMittal - Co. bids USD 1.5bln for ThyssenKrupp's Alabama plant. (Newswires)

Carrefour SA - Co.'s Q4 sales EUR 22.9bln, Q4 sales incl. VAT up 0.8% to EUR 22.9bln. FY sales up 1% to EUR 86.6bln. Q4 revenue from French stores rise 0.6% to EUR 10.54bln. (Newswires)

OTHER FRENCH COMPANIES

Areva - According to press, Co. is in talks to sell reactors to India at advanced stage. (Newswires)

Companies paying dividend: Solvay (EUR 1.2000)

SMI

SGS SA - Co. FY sales CHF 5.6bln vs. Exp. CHF 5.53bln. Adj. operating profit CHF 941mln. Co. sees solid sales, profit growth in 2013 despite weak Europe. (Newswires)

Scandinavia 

Avanza Bank - Co.'s Q4 Operating Income SK 131mln vs. Exp SK 157mln. (Newswires)

Seadrill - Co. gets term extension for semi-submersible west Leo deal. Co. says deal worth USD 450mln, total now USD 1.13bln. Says Tullow exercised option to extend west Leo deal. (Newswires)

Pan-European

Banca dei Paschi - Deutsche bank designed a derivative for the Co. at the height of the financial crisis that obscured losses at the Co. before it sought a taxpayer bailout. (Newswires)

Telecom Italia - Co's TV unit said to not win improved bids. (Newswires)

Nokia - Co. is set to announce more job cuts today. (Helsingin Sanoma)

ASML Holding - Q4 sales EUR 1.023bln vs. Exp. EUR 1.029bln. Q4 Net profit EUR 298mln vs. Exp. EUR 185mln. Co. says proposed dividend of EUR 0.53 per share. Co. sees 2013 sales similar to 2012, with a slow Q1 start, recovering in Q2. Sees Q1 sales at EUR 850mln and would continue to return cash to shareholders through dividends and share buybacks. (Newswires)

Finmeccanica - Co. says Samsung carrying out due diligence on Ansaldo Energis, manufacturer of the Co.s power station turbines. (Il Corriere della Sera)

AHOLD - Q4 revenue EUR 7.84mln vs. Exp EUR 7.86bln. (Newswires)

Broker Recommendations

ANGLO AMERICAN CUT TO UNDERPERFORM FROM NEUTRAL AT EXANE

XSTRATA CUT TO NEUTRAL FROM OUTPERFORM AT EXANE

SABMILLER RAISED TO OUTPERFORM VS NEUTRAL AT MACQUARIE

IMI RAISED TO OUTPERFORM FROM UNDERPERFORM AT CREDIT SUISSE

TUI TRAVEL CUT TO UNDERPERFORM FROM NEUTRAL AT EXANE

MICHELIN REMOVED FROM MOST PREFERRED AUTO SHARES AT UBS

SAP CUT TO NEUTRAL VS BUY AT CITI

MAN SE RAISED TO EQUALWEIGHT FROM UNDERWEIGHT AT BARCLAYS

EUROPEAN TRUCKS RAISED TO NEUTRAL FROM NEGATIVE AT BARCLAYS

SCANIA CUT TO UNDERWEIGHT FROM EQUALWEIGHT AT BARCLAYS

DNB RAISED TO OVERWEIGHT AT MORGAN STANLEY

Global

Gazprom - Q3 Y/Y Net RUB 305bln vs. Exp. RUB 291bln ( Prev. RUB 152bln). Sales RUB 1.12trln Prev. RUB 950bln Y/Y. Co. says made no retroactive payment payments in Q3. (Newswires)

US

The Nasdaq 100 outperformed its peers in yesterday's finishing the session with gains, seen up 0.27% following an increase of 4.19% in Apple shares. Concurring with this Technology is the best performing sector in the S&P 500 advancing 0.90%, one of only 3 sectors settling in the green, also up in Technology were Hewlett Packard who rose almost 4% after news that several other US tech companies were interested in purchasing their EDS and Autonomy units. The Dow was weighed on by poor performance from Boeing who saw losses of 3.79% following yet another issue with one their 787 Dreamliner’s in western Japan. Markets derived little direction from data that came broadly in line with expectations including CPI and Industrial Production, with participants focus on earnings season. In terms of earnings US banks had mixed reports with Goldman Sachs reporting strongly and JP Morgan beating expectations, but moving lower after it became apparent the report had several one off inclusions, Goldman Sachs finished the session up 4.15%. Finally, the DJIA finished down 0.18% at 13511.08 the S&P 500 finished up 0.02% at 1472.60 and the NASDAQ 100 finished up 0.43% at 2734.73.

Best Performing Sectors in the S&P 500: Technology (+0.86%), Oil & Gas (+0.32%), Financials (+0.09%)

Worst Performing Sectors in the S&P 500: Telecommunications (-1.16%), Basic Materials (-0.76%), Utilities (-0.49%)

eBay - Co. Q4 EPS USD 0.70 vs. Exp USD 0.70, Q4 sales USD 4.0bln vs Exp. USD 3.98bln, sees Q1 adj EPS USD 0.60-0.62 vs. Exp. USD 0.64. (Newswires)

Boeing - US FAA orders temporary cease in operations of Boeing 787 Dreamliners affecting United Airlines which is the only US operator of 787 Dreamliners. The FAA stated that 787 battery failures could damage critical systems. Air India, ANA and JAL will also ground its Boeing 787 fleet. (Newswires)

GM - Co. will invest USD 1.5bln in its North American plants this year. Co. plans to introduce about 20 new vehicles in the US this year and is also planning to replace 70% of its US line up over a year and a half. (Newswires)

Dell - Silver Lake is said to be near obtaining financing for Dell. (Newswires)

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