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DAILY REPORT 04/06/14 Economic news Eurozone

European shares continue to move lower. The main European stock indexes operate Wednesday's session lower, continuing the downward movement of the rest of the week, waiting for the decision of the European Central Bank during the day tomorrow. The English FTSE 100 has a negative change of 0.37%, yielding 25 units before the opening on Wall Street. In Germany, the DAX dropped 0.28%, trading above 9890 points. France recorded a negative change of 0.32% in the CAC40 index, after a half-day operations on the European continent European central Bank European indices have shown caution against the day on Thursday where the European Central Bank may announce new stimulus measures. It is expected that after the meeting of the governing council of the bank President Mario Draghi is present at a press conference to announce and discuss the steps that the bank will choose to fight possible deflation. Either Economists expect a further cut in rates, low interest bank loans or even an asset purchase program as the Federal Reserve does in the United States. The need for new stimuli to the economy of the region was confirmed on Tuesday after inflation increased less than expected (grew 0.5%), increased fears of falling into deflation.

Tomorrow News: • •

The Bank of England will announce the interest rate for the next term. Is expected to remain unchanged at 0.5%. The European Central Bank will announce interest rate for the next period. This is expected to be cut from 0.25% to 0.10%.

Economic News Asia • Nikkei hold up. Major Asian stock indexes closed Wednesday's session mixed territory , showing caution to the news that will be announced during the last days of this week. The Japanese Nikkei appreciated 0.22 % , increased by 33 units along the journey. In China, the Hang Seng Index depreciated by 0.60 %, while the Shanghai Composite Index gave up 0.66% of its value during the press today. In Australia the S & P / ASX 200 index had a negative change of 0.64% , losing 34 points of its value against Tuesday's close . Nikkei Up Japanese stocks managed to hold the closing level Tuesday ( highest in two months) and recorded an upward movement of about 0.2 %. The weakening of the Japanese currency against the U.S. dollar helped keep the rally Asian index.

RBI producers index after learning that car sales in the U.S. rose to 1.6 million in May, the best step is recorded since the financial crisis of 2008. Appreciated Nissan Motor 1.7 % while Mazda Motor shut up about 2%. Australia Down Australian shares fell to their lowest level in two weeks after the financial sector had less positive results than expected. Top Banks ( Australia New Zealand Banking , Commonwealth Bank of Australia and National Australia Bank) , fell about 1 % on the day . After learning that the Reserve Bank of Australia left rates unchanged , growth in oceanic country rose more than expected by economists. The annualized figure grew by 3.5%.

Tomorrow news: • China's PMI is known. The last record is 49.5 . • In Australia it will release the trade balance for April . Are expected to register for 510 million Australian dollars.

Economic and corporate news United States

• Job creation in the private sector disappoints the market. During Tuesday's session in the U.S. market the major stock indexes closed lower , after reaching historic highs during the previous trading day. The Dow Jones Industrial depreciated 0.13 % , yielding 21.29 units throughout the day. The S & P 500 traded slightly lower , falling 0.04% during the second round of the week. The Nasdaq Composite Index lost 0.07% of its value, closing lower for a third straight day . Private Sector Job Creation Job creation fell unexpectedly in May , disappointing economists and investors , as was announced this morning the ADP agency . In its monthly report, the agency said that in May 179 thousand jobs were created in the private sector, well below than expected by analysts who foresaw the creation of 215,000 new jobs . This finding could lead economists to lower their forecasts for Friday's official data for that project out in 230,000 new jobs last month .

The services industry was that more jobs during the month totaled 150 thousand jobs . The transport sector was the second biggest contributor , adding 35,000 jobs in the private sector during the month of May.

Tomorrow news: •

The Labor Department will release the specified weeks of initial claims for unemployment . It is expected that for the week ended May 31 313 000 new requests are recorded.




Felipe Jaramillo Revéiz

Portfolio Manager

Carlos Ávila Peña

Money Manager

Mauricio Jaramillo Revéiz

Money Manager

Juan Pablo Hernández

Risk Manager

Juan Laverde

Financial Analyst

Carlos Albán Correa

Financial Analyst

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Daily Report. 04/06/14