Markets have largely shrugged Euro Zone PMI figures that missed estimates to post moderate gains this morning, as Chinese factory order expansion hits a 7 month high. An advance in US futures and commodities also aided the move, with this weeks’ disappointing US payroll number enforcing the argument that a taper might be delayed beyond next March. There was a hat trick of good news for Spain, with data today showing the unemployment rate fell, coupled with a surge in profit’s at Banco Santander and yesterday’s report from the central bank that it has finally emerged from a 2 year recession. While these are hopefully the green shoots of a fuller recovery, we can’t forget the base that we are working from, with the jobless rate still at an eye watering 26%. Ericsson’s stock was knocked down as much as 6% this morning after Q3 profits missed expectations. Sales were down to 53bln crowns from 54.6bln last year, with CEO Hans Vestberg pointing to a slowdown in Japan and the US while they wait for the completion of projects to increase carrier speed. Daimler beat Q3 profit estimates as strong sales of new Mercedes models helped lift the stock to a near 6 year high. On a side note there is some talk of bringing back the super exclusive Maybach brand in the form of a high end S class model. The brand apparently lost a staggering $300,000 per car at one stage, but it is hoped that reducing costs and integrating the model into the Mercedes range may well have potential. Watch out for high rollers on MTV spilling out of sparkling Maybach on your TV screen again soon……. Credit Suisse saw revenue down over 1% in Q3, with a 20% fall in investment banking income forcing plans to restructure interest rate business. Advertiser WPP has beaten Q3 estimates, citing a recovery in North America and the UK. Revenues were up 5% to £2.68bln. The numbers have got gleaming reports from a number of analysts, with UBS calling it “sector leading growth”, they had a target of 4% on revenue. Looking ahead, the firm expects a healthy lift from next year’s world cup in Brazil and winter Olympics in Russia, the firm has a strong presence in Latin America already, up 5.8% this quarter. Sports Direct stock nosedived over 5% after yesterday’s news that Goldman Sachs will sell up to 16 million shares acquired from CEO Mike Ashley to institutional investors. Unsurprisingly, it would seem any holders on the fence have dumped the stock ahead of any downward pressure that might create. CMC Markets is an execution only service provider. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.