Good morning,

Markets are called to open higher this morning. Asian stocks headed for the biggest gain in almost two weeks, Europe equity-index futures advanced and emerging-market currencies climbed after a gauge of Chinese services rose to a six-month high. U.S. index futures fell as lawmakers failed to make progress on the budget, while oil slid.

China’s non-manufacturing index rose to the highest level since March last month, before reports on services industries in Europe and the U.S. due later today. The first face-to-face talks between President Barack Obama and congressional leaders failed to break the budget impasse as a partial U.S. government shutdown entered its third day.


• Tesco Says Future China Deals to Go Through China Resources Retail Venture

• Aviva Says Sale of U.S. Business to Athene Brings $2.6b

• Asian Stocks Rise on China Data as Investors Weigh U.S. Talks

• Boehner Says Obama Refused Negotiations in White House Meeting

• Mercedes-Benz Global Sales Post Record in September, Bild Says

• German Cartel Office Renews Call for E-Plus Scrutiny: Koelner Stadt-Anzeiger.

• Draghi Said to Task ECB Panel to Consider Bank Liquidity Options

• Goldman Sachs Buys $1.46b Stake in Denmark’s Dong Energy

• Portugal Says Won’t Interfere in Portugal Telecom, Oi Merger

• Prosecutors Said to Seek JPMorgan Indictment in Paschi Case

• Schaeuble Urges Euro-Area Patience in Reunification Comparison

• SMT Scharf: Russia Mine Explosion Affected 2 of Co.’s Trains

• Marc Jacobs’s Vuitton Exit Seen as Double Boost to LVMH

EARNINGS All times CET, estimates where available:

• EasyJet (EZJ LN) 8am, 4Q trading statement

• Carillion (CLLN LN) 8am, 3Q trading statement

• Firstgroup (FGP LN) 8am, 2Q trading statement

• Ted Baker (TED LN) 8am, 1H

• IAG (IAG LN) 4pm, Sept. traffic

Good day and happy trading!

Kristian Camenzuli