Softbank Officially Announces Plans To Take $20.1B, 70% Stake In Sprint

(FI) Finland Sept CPI M/M: 0.4% v 0.2% prior; Y/Y: 2.7% v 2.7% prior

(IN) India Sept Monthly Wholesale Prices Y/Y: 7.8% v 7.7%e, 10-month high

(CZ) Czech Sept PPI (Industrial) M/M: 0.0% v 0.3%e; Y/Y: 1.7% v 2.0%e

(FI) Finland Aug Current Account: €80M v €150M prior

(TR) Turkey July Unemployment Rate: 8.4% v 8.0% prior

(CZ) Czech Aug Export Price Index Y/Y: 3.7% v 4.7% prior; Import Price Index Y/Y: 5.8% v 5.5% prior

(DK) Denmark Sept Wholesale Prices M/M: 0.6% v 1.6% prior; Y/Y: 4.1 v 3.2% prior

(EU) ECB: €1.3B borrowed in overnight loan facility v €867M prior; €260.5B parked in deposit facility vs. €243.2B prior

(CH) Swiss Sept Producer & Import Prices M/M: 0.3% v 0.2%e; Y/Y: 0.3% v 0.1%e

(PH) Philippines Aug Overseas Remittances: $1.8B v $1.8B prior; Y/Y: 7.6% v 5.4% prior

(CZ) Czech Aug Current Account (CZK): -26.6B v -18.5Be

(NO) Norway Sept Trade Balance (NOK): 23.6B v 33.8B prior

(IT) Italy Aug Public Finance Supplement: General Government Debt: €1.976T v €1.968T prior

Fixed Income
(IT) Italy opened books for Oct 2016 Euro-denominated Inflation-linked Retail bonds

(SK) Slovakia Debt Agency (ARDAL) sold €60.9M in 2025 bonds; Avg Yield 3.5453% v 3.8454% prior; Bid-to-cover: 1.3x

(NO) Norway sold NOK3.0B vs. NOK3.0B indicated in 12-month Bills; Yield 1.74%; Bid-to-cover 2.5x

(NL) Netherlands Debt Agency (DSTA) sold total €2.09B vs. €4.0B indicated in 3-month and 6-month Bills

Sold €1.07B vs.€2B indicated in 3-month bills; Yield: -0.037% v -0.05% prior; Bid-to-cover: 3.49x v 3.03x prior

Sold €1.02B vs. €2.0B indicated in 6-month Bills; Avg Yield: -0.021% v -0.013% prior; Bid-to-cover: 3.66x v 3.09 x prior

Notes/Observations
Plan for Santander to buy RBS UK retail branches collapses

Fed Chief Bernanke urges developing countries to let their currency appreciate to aid global rebalancing

Scotland leader Salmond meets UK leader Cameron today to lay groundwork to end 300 years union with UK

China Trade Balance has constructive components but doubts whether China will be able to sustain these numbers into the year-end; CPI release shows PBoC has room for ease if needed

Renewed speculation that a Spanish bailout request will come in November to coincide with a revised Greek program and a Cyprus aid package

Greece 10-year bond yields at lowest levels since the march PSI debt restructuring

India WPI inflation data at 10-month high and adds pressure on RBI to refrain from cutting rates

Equities
Indices: FTSE 100 +0.50% at 5,821, DAX +0.80% at 7,288, CAC-40 +1.2% at 3,429, IBEX-35 +0.70% at 7,703, FTSE MIB +0.90% at 15,659, SMI +0.70% at 6,699, S&P 500 Futures +0.50% at 1,428.50

Following the losses seen during the prior week, European equity indices are mostly higher. The strongest gains have been seen by the French CAC-40, amid gains in shares of energy producer Total. Also, French banks have led the gains being seen in the banking sector. Resource related firms are trading mixed, as commodity prices have moved lower.

In France, shares of energy producer Total [FP.FR] have gained over 1%, as the company reported a sharp y/y rise in its Q3 European refining margin. Alcatel Lucent [ALU.FR] has lost 3%,as Chinese competitor ZTE Corp issued a profit warning. Shares of Vivendi [VIV.FR] have advanced by over 2%, amid speculation that the firm could seek a merger for its SFR unit. In Germany, cosmetics retailer Douglas [DOU.DE] is higher by more than 7%, as the company received a bid from Advent International.

Electric cable maker Leoni [LEO.DE] has declined by over 1% amid speculation that the firm could issue a profit warning. Swedish retailer H&M [HMB.SE] has traded higher, as the firm's Sept sales figures beat analyst expectations. In Switzerland, transport-services firm Panalpina [PWTN.CH] is lower by more than 6%, as the company made cautious comments regarding the outlook for the air freight business. UK-listed medical imaging firm Optos [OPTS] is higher by more than 7%, after the company guided its FY revenues above expectations. RBS [RBS.UK] has lagged the performance of other European banks, amid reports that the agreement for the firm to sell over 300 branches to Santander had collapsed.

FTSE 100 movers (Hargreaves Lansdown +2.8%, Standard Chartered +1.8%, Barclays +1.7%, Kingfisher +1.5%, Lloyds +1.5%; BT Group -1.7%, Kazakhmys -1.2%)

CAC-40 movers (Vivendi +2.7%, Accor +2.3%, Alstom +2.2%, Credit Agricole +2.2%, Total +1.9%; Alcatel -4%)

DAX movers (Commerzbank +1.7%, RWE +1.5%, BASF +1.4%, SAP +1.4%, Deutsche Bank +1.3%; K+S -2.3%)

IBEX-35 movers (Bankia +2.2%, Acciona +2.1%, Santander +1.9%, Iberdrola +1.1%, Endesa +1%, Repsol +1%; Banco Popular -2.9%, Gamesa -2%, Sacyr -1.2%, Acerinox -1.2%, Banco de Sabadell -1%)

FTSE MIB movers (Mediaset +3.3%, Banca Popolare di Milano Scarl +1.9%, Finmeccanica +1.9%, Mediobanca +1.8%, Banca Monte dei Paschi di Siena +1.5%)

SMI movers (Credit Suiise +1.7%, Givaudan +1.2%, Adecco +1.1%, Swatch +1%)