GLOBAL FINANCIAL DATA

REVIEW OF SCHOLARSHIP

MONDAY, Sept. 13, 2010

(1) SUMMARY OF THE SCENARIO:

Asian stock markets started the week high, from Chinese data released over the weekend, which indicated an increase in economic activity. Attention also were on account of the meeting of central banks held at the weekend in Switzerland, for approval of new rules for financial system - Basel III, with the possibility of compulsory banks raise more capital, which would require issuing coins by the BC world.

JAPAN: Japanese stocks closed higher, but low volume, with investors awaiting the election of the Democratic Party of Japan (DPJ) tomorrow, but the general feeling of optimism. The banking sector and exporters helped the market, the latter helped by the yen's weakness against the euro.

CHINA: China's shares ended higher and were led by oil producers and carmakers, although gains were tempered by the poor performance of bank shares. Leading economic indicators show that China's growth accelerated in August showing a stronger increase than expected industrial production and retail sales, while inflation was in line with forecasts, easing some concerns about rising fees there. Banks were under pressure after the China Business News quoting an unnamed source, reported that the China Banking Regulatory Commission intended to require banks to make a fund equivalent to 2.5% of their loans as reserves in the next year as part efforts to strengthen their balance sheets.

EUROPE: European stocks opened higher, with the major banks are benefiting from new rules on capital adequacy and reserves of resources, based on data from China. The new rules, which were agreed in Basel, Switzerland, aim to prevent risks such as those which triggered the global financial crisis in 2008. At the heart of the new rules, central banks will have to increase the capital requirement to at least 7% of assets, more than the international standard of 2% or 4% required by U.S. banks. Central banks have several years to accommodate the new standards. The EU raised its forecast for economic growth in the euro area, based on a stronger growth than expected in the second quarter. The economic forecast estimates that the GDP will grow 1.7%, above its forecast. The EU also lifted its growth forecast for Britain, projecting 2010 GDP growth of 1.7%.

(2) AGENDA OF THE MARKET:

TODAY:
USA:
15:00 - Treasury Budget (government budget) in August.

FRIDAY:
USA: 9.30 - Retail Sales (total sales of the retail market, excluding the service sector) and Retail Sales ex-auto (ignores auto sales)
11:00 - Business Inventories (volume of sales and inventory of industries in addition to the sectors of wholesale and retail).
EUROPE: ZEW Survey - Economic Sentiment (institutional investor sentiment in the Eurozone).
UNITED KINGDOM: Consumer Price Index - CPI (consumer inflation British) and Retail Sales Index (British retail sales).
GERMANY: ZEW Survey - Current Situation (current sentiment of the institutional investor) and ZEW Survey - Economic Sentiment (sentiment in the long-term institutional investor in Germany).

(3) WORLD INDEX (7:20 a.m.):

ASIA
Australia: +1.16%
Nikkei: +0.89%
Hong Kong: 1.89%
Shanghai Composite: +0.94%
EUROPE
London - FTSE: +1.01%
Paris Cac 40: +1.09%
Netherlands: +1.03%
Frankfurt - Dax: +0.91%
Madrid IBEX: +1.02%
Zurich: +0.35%
Milan Mib: +1.10%
Moscow RTS: +1.45%

OIL
BRENT: +0.70%
WTI: +1.18%

METALLIC COMMODITIES
COPPER: +1.64%
NICKEL: +2.52%

INDEX FUTURES AMERICAN
Dow: +0.94%
S & P: +0.88%
NASDAQ: +1.05%