Trader Talk: An Analysis of the Markets this Morning

Good morning,

Markets are called to open higher this morning. Growth in Germany and France, Europe’s two largest economies, beat economists’ estimates in the fourth quarter in a sign the fragile euro-area recovery is gaining traction.

Stock to watch: ThyssenKrupp Reports Quarterly Profit That Exceeds Estimates

ThyssenKrupp AG, Germany’s largest steelmaker, reported earnings that beat analysts’ estimates as revenue from non-steel businesses increased and losses from its

Steel Americas unit narrowed.

Adjusted earnings from continuing operations before interest and taxes more than doubled to 247 million euros ($338 million) in the fiscal first quarter ended in December, exceeding the 218.7 million-euro average of 10 estimates compiled by Bloomberg. The net loss for the quarter widened to 69 million euros from 16 million a year earlier, the Essen-based company said in a statement today.

WHAT TO WATCH:

• Danske Price Fixing Probe Fuels Political Call for Tougher Rules

• JPMorgan Shuffles German Team as Altenburg Joins Deutsche Bank

• Croatia Rating Outlook Revised to Negative at Fitch

• Credit Suisse Sells Its Largest Structured Note in Four Years

• BNP Paribas Being Probed by New York Investigators: WSJ

• Lar Espana Real Estate Socimi Plans Spain’s First IPO Since 2011

• Deutsche Telekom Seeks to Dominate East European Markets by 2018

• Unipetrol Rebuffs Investor Dividend Demands as Losses Persist

• GDF Says Long-Term Gas Deals Must Be More Flexible to Survive

• J. Martins Isn’t Losing Mkt Share in Poland, Remains Leader: CEO

• U.K. Home Prices Hit Record High Amid London Boom: Acadata

• U.K. Government Owed 22 Billion Pounds in Unpaid Debts: NAO

• Gatwick, Heathrow Must Be More Accountable for Disruptions: CAA

EARNINGS All times CET

• Anglo American (AAL LN) 8am Preview

• ThyssenKrupp (TKA GR) 7:30am, 1Q

• Coca-Cola HBC (CCH LN) 8am

• Eutelsat (ETL FP) 7am, 1H

• GN Store Nord (GN DC) 8am

• Investment AB (KINVB SS) 8am

• Pennon Group (PNN LN) 8am, 3Q sales/IMS

• Schindler Holding (SCHP VX) 6:30am

• Severn Trent (SVT LN) 8am, 3Q sales/IMS

Good day and happy trading!

Kristian Camenzuli