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Positive on risk - equities higher on Philips' results

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Uploaded by on Oct 12, 2009

www.tradingfloor.com
We have a positive stance on risky assets in general today though expect a fairly quiet day as data released are limited. We will open around 0.5% higher in Europe after which we buy the dips.
Philips can out much better than expected on the earnings side - and also beat the consensus of expectations on revenues. The result is driven by cost-cutting and revenues are still down hard YoY (-19%).
This is a busy week in terms of both companies reporting and macro data released, but we'll start off with a slow day - no data releases worth mentioning (Treasury's Krueger speaks later today).
For more comment on FX, FX options, equities and commodities go to www.tradingfloor.com

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