Good morning,

Markets are called to open higher this morning. Asian shares snapped a nine-day rally, while U.S. and European index futures declined. U.S. oil slid after President Barack Obama called for a pause in authorizing military strikes on Syria, while metals gained. Obama asked Congress to delay a vote authorizing the use of military force while the administration pursues a proposal that would have Syria surrender its chemical arms, he said in a speech in Washington. Chinese Premier Li Keqiang addresses a World Economic Forum meeting in Dalian today after data yesterday showed new credit almost doubled in August and factory output expanded the most in 17 months.

Stock to watch: Barclays

Barclays Plc Chief Executive Officer Antony Jenkins said Britain runs the risk of a property boom as the economy starts to recover. “We are seeing probably a more buoyant housing market for the first time in perhaps as much as a decade,” Jenkins, 52, said yesterday at a conference in New York. “That’s a bit concerning because there is the risk of a property-driven boom in the U.K. The regulators are on it and don’t intend to let it happen, but these things can be difficult to control.”


• U.K. Probing Alleged ISDAfix Rate Manipulation, Regulator Says

• Asian Stocks Swing Between Gains, Losses Amid Syria Uncertainty

• Vodafone’s German Cable Deal in Balance Amid Hedge-Fund Catch 22

• Deutsche Bank Board to Discuss Extension Fitschen Contract: SZ

• Barclays CEO Sees Risk of Property Boom as U.K. Recovery Begins

• UniCredit to Review Options for Its Credit Unit by October

• Tesco to Sell Fresh & Easy to Burkle’s Yucaipa in U.S. Exit

• Renault Co-Chiefs Pledge to Focus on Devising Growth Project

• Bollore Rules Out Candidacy as Vivendi CEO Search Continues

• Vodafone’s German Cable Deal in Balance Amid Hedge-Fund Catch 22

• Barclays CEO Says 700 Jobs to Be Cut in Wholesale Unit

• SYRIA LATEST: Obama Calls for Pause in Authorizing Strikes

• ECB, European Parliament Reach Accord on Bank-Oversight Minutes

• Glaxo/Theravance’s Anoro Ellipta Wins FDA Panel’s Backing

• Bank of Cyprus Elects Chairman, Vice-Chairman After AGM

• BMW to Fix Supply-Chain Delays by Month’s End, Executives Say

EARNINGS All times CET, estimates where available:

• Flughafen Zuerich (FHZN SW) TBD, Aug. traffic, rev.

• Kingfisher (KGF LN) 8am, 1H adj. EPS est. GBP0.11

• Barratt Developments (BDEV LN) 8am, FY adj. EPS est. GBP0.15

Good day and happy trading!

Kristian Camenzuli