** MORNING WRAP **

** US MARKETS **
Dow 1%; Nasdaq 1,51%; S&P 1,13%; Soxx 1,76%; Russel2k 1,37%; DJAIG 0,27%; 10yr
Bond 0,06%; 10yr Yield 4,7%; Crude future 59,99; Gold 624,3

| Technology 1,39%| ConsDisc 1,36%| Financials 1,33%| Healthcare 1,27%|
Materials 1,2%| Telecom 1,12%| Industrials 1,11%| Energy 1,04%| ConsStaples
0,51%| Utilities 0,39%

- Fed’s Pianalto Says Economy to Withstand Housing Slump; Inflation to Slow
- Alcoa Fails to Reach Wage Accord With Employees at Cleveland Works Plan
- Democratic Victory in Elections Would Boost Dollar, Mitsubishi UFJ Says

Altera Corp. rose 31 cents, or 1.7 percent, to $18.75 in trading after the
official close of U.S. exchanges. The second-biggest maker of programmable
semiconductors said third-quarter profit excluding some items was 27 cents a
share. The company was expected to earn 25 cents, the average estimate from
analysts in a Thomson Financial survey.

- Herbalife Ltd. rose $2.25, or 5.9 percent, to $40.50 in trading after the
official close of U.S. markets. The seller of nutritional and weight-loss
supplements boosted its 2006 profit forecast to $2 to $2.03 a share, citing
better-than-expected earnings in the first three months of the year. The
average estimate from eight analysts in a Thomson Financial survey was $1.95.

** ASIAN MARKETS **
Nikkei 0,18%; Kospi 0,6%; HSI 0,78%; Taiwan 0,9%; China 0,28%; India 0,43%;
Thailand 1,25%; Australia 0,86%

- Toyota’s Profit Surges 34 Percent on Overseas Sales, Yen; Forecast Raised
- Asian Stocks Rise, Led by Toyota; Hang Seng Exceeds 19,000 for First Time
- Bank Indonesia Cuts Key Interest Rate for Sixth Time to Revive Spending
- Fukui Indicates Bank of Japan Is Preparing to Raise Rates; Yen Rallies
- Europe Finance Chiefs Say Yen’s Decline Is Not Supported by Fundamentals
- ICBC Increases Hong Kong Share Sale by 15 Percent to Record $16 Billion
- Soaring Asian Rents Pit CLSA and Goldman Sachs Against CashStarved REITs

** EUROPE: IN PLAY TODAY **

- Acerinox SA: The world’s second-largest stainless steel producer plans to
report nine-month earnings. Analysts at Ibersecurities SA expect the
Madrid-based company to say it had profit of 254.1 million euros on sales of 4
billion euros.

- Actividades de Construccion & Servicios SA: Spain’s biggest builder by revenue
may post a 32 percent increase in nine-month profit, according to a survey of
analysts by Bloomberg News. Net income at ACS probably climbed to 583 million
euros from 440.3 million euros a year earlier, according to the median
estimate of five analysts surveyed by Bloomberg.

- Clariant AG: The world’s second-largest specialty chemical maker plans to
report third-quarter results. It may say profit fell 20 percent to 61 million
francs, according to a survey of nine analysts by Bloomberg News.

- Deutsche Boerse AG: Europe’s largest stock exchange by market value, said
third-quarter profit rose 42 percent helped by fees from equities and
derivatives trading.

- Gas Natural SDG SA: Spain’s largest gas supplier is scheduled to report
nine-month financial results. Analysts at Ibersecurities estimate the company
will say profit rose 29 percent to 684 million euros.

- Hunter Douglas NV: The world’s largest maker of window blinds is scheduled to
report third-quarter results Nov. 7. On Aug. 22, it said second-quarter profit
rose 28 percent to 58.2 million euros, boosted by higher North American sales.
The company was ``optimistic’’ about the outlook for the rest of the
year, it said at the time.

- Kendrion NV: The Dutch maker of metal parts used in cars is scheduled to
report third-quarter results Nov. 7. On Aug. 29, Kendrion reported a 3.7 percent
decline in first-half profit to 7.8 million euros.

- Munich Re, the world’s second-largest reinsurer, raised its forecast for 2006
profit as lower claims a year after Hurricane Katrina buoyed third-quarter
earnings. Earnings will reach between 3.2 billion euros ($4.1 billion) and 3.4
billion euros this year, the Munich-based company said in a statement today.
That compares with a previous estimate of as much as 2.8 billion euros. Net
income in the third quarter jumped 45 percent to 715 million euros.

- Puma AG: Europe’s second-largest sporting-goods maker intends to report
third-quarter earnings. The company may say profit fell as it spent more on
advertising and research, according to analysts surveyed by Bloomberg News.

- SBM Offshore NV: The world’s largest supplier of floating oil-production
platforms said after the close of the market that it won orders valued at more
than $850 million. The company will lease a floating production, storage and
offloading system for the BC-10 field offshore Brazil to a group led by
Royal Dutch Shell Plc, SBM Offshore said in a statement.

- Telecom Italia SpA: Italy’s largest phone company reported an unexpected 3.5
percent increase in third-quarter profit to 880 million euros ($1.12 billion)
and said it received an offer for its Brazilian mobile-phone unit. Analysts had
anticipated profit would fall to 767.5 million euros, according to a survey by
Bloomberg.