Trader Talk: An Analysis of the Markets this Morning

Good morning,

European stock-index futures were little changed, after the region’s equities yesterday rose to a six-year high, as a report showed manufacturing in China probably contracted this month. U.S. index futures and Asian shares also slid.

EasyJet

EasyJet Plc, Europe’s second-biggest discount airline, said sales jumped in the fiscal first quarter, boosted by allocated seating and longer-distance flights to destinations including Tel Aviv and Moscow.

Revenue climbed 7.7 percent to 897 million pounds ($1.49 billion) in three months through December, EasyJet said in a statement today. The first-half 2014 pretax loss will be in the range of 70 million pounds to 90 million pounds, compared with a loss of 61 million a year earlier, the airline said.

EasyJet is intensifying efforts to win business passengers as well as older, more affluent customers with allocated seats, flexible tickets, fast-tracking and higher frequencies to key destinations. The company predicted fiercer competition in November as discount rivals including Ryanair Holdings Plc, Norwegian Air Shuttle AS and Spain’s Vueling chase market share.

WHAT TO WATCH:

• BOE Guidance Backed by McCafferty Citing ‘Feeble’ Investment

• Draghi Sees Encouraging Signs in Euro-Zone Economy: NZZ

• ECB Proposes Lautenschlaeger as Vice Chair for Bank Supervision

• U.K. Loses Life Sciences Jobs as Boston Draws More Investment

• Hapag-Lloyd and CSAV Agree to Form World No. 4 Container Shipper

• Fiat-Chrysler Said to Plan Primary NYSE Listing With U.K. Base

• Genextra in No Rush to Sell on $1.2 Billion Intercept Windfall

• Security Tightens at Platinum Mines as 70,000 Set to Strike

• ILFC Takeover May Be Last Mega-Deal as Jet Lessors Embrace IPOs

• Credit Suisse Sued by China Green Chief Over Alleged Negligence

• BNP Paribas Lease Group Invests in Jiangsu Financial Leasing

• Goldman Right for Dong as Critics Should Move On: Lawmaker

• Santander Pushing Mortgages Signals End of Drought

• Germany Plans to Tighten Sale of Risky Financial Products: SZ

• Gazprom Says China Natural Gas Deal Delayed to Putin’s May Visit

• Total’s De Margerie Sees Potential for Resuming Iran Operations

• U.K. Authorities Charge Two Women on Terrorism Offences

• Ukraine Opposition Pressures Yanukovych After Riots Turn Deadly

EARNINGS All times CET:

• Nokia (NOK1V FH) noon, FY earnings

• Banco de Sabadell (SAB SM) 8:30am, FY earnings

• Delhaize (DELB BB) 8am, 4Q sales

• EasyJet (EZJ LN) 8am, 1Q sales/trading

• Gazprom (OGZD LI) 7am, 9-mo earnings

• London Stock Exchange (LSE LN) 8am, 3Q IMS

• Lonza Group (LONN VX) 7am, FY earnings

• Pearson (PSON LN) 8am, 4Q sales/trading

• St James’s Place (STJ LN) 8am, 4Q sales

Good day and ahppy trading!

Kristian Camenzuli