DAILY MARKET UPDATE

28 April 2010

EQUITIES
Switzerland USA
• Nobel Biocare AG (NOBN VX):
The Zurich-based company reported net profit for the three Future Current Chg Pct 1d Trend
months to the end of March of EUR38.7 million from EUR18 DJIA . Jun ’10 10965 0.09%

million a year earlier. The figure beat estimates for a bottom S&P 500 Jun ’10 1182.3 0.11%

line result of EUR22 million as Nobel benefited from cost- Nasdaq 100 Jun ‘10 2010.5 0.09%

cutting and staff reductions.

• Syngenta AG (SYNN VX):

The world’s largest maker of agricultural chemicals has U.S. market news
entered into a long-term multi-crop partnership with Embrapa
to advance solutions for Brazilian growers to improve crop DreamWorks Animation SKG Inc., posted Q1 profits that beat
quality and yield. expectations. Net income in the three months through March fell
65% to 24 cents per share, beating estimates by 2 cents per
share. Ford Motor Company: The carmaker lost 6.2% after the
auto maker warned that rising commodity prices and weaker
Europe European sales would pressure results in the second half of the
• Eni SpA (ENI IM): year.
Ecopetrol SA said it won bids to explore in blocks in the Gulf
of Mexico with units of Eni and Repsol YPF SA. Bogota-
based Ecopetrol said it partnered with Repsol in 10 blocks
and with Eni in four other blocks, according to a presentation
on its Web site.

• HeidelbergCement AG (HEI GY):

The world’s third-largest cement maker signed a 3 billion-euro
($4 billion) syndicated loan to refinance debt and provide
liquidity until the end of 2013.

• Electricite de France SA (EDF FP):

Germany’s Europe’s biggest power producer signed a new
accord with shareholders in SPE-Luminus, a Belgian energy
company, and will raise its stake to 63.5% from 51%.

COMMODITIES
Oil
Crude oil fell for a third day in New York as Asian equities tumbled
and credit-rating downgrades on Greece and Portugal fanned
concern global demand for fuel may be slow to recover. Oil pared
losses after the euro recovered against the dollar, bolstering the
investment appeal of commodities as an inflation hedge. A U.S.
government report today may show crude oil and gasoline stockpiles
held by the world’s biggest energy consumer increased for a second
week, according to a Bloomberg News survey. Crude oil for June
delivery fell as much as 78 cents, or 1%, to $81.66 a barrel in
electronic trading on the New York Mercantile Exchange. It was at
$82.23 at 12:46 p.m. Singapore time. Yesterday, the contract
dropped $1.76, or 2.1%, to settle at $82.44. That was the biggest
decline since April 19.
Gold
Gold fell from the highest level in more than four months on
speculation that the International Monetary Fund will provide more
aid to Greece, triggering a rebound in the euro and damping haven
demand for the metal. Bullion for immediate delivery lost as much as
0.4% to $1,163.75 an ounce and was at $1,164.10 at 1:29 p.m. in
EFG International AG acts as Guarantor for the issuer’s obligations according to the relevant terms of the products.
EFG Financial Products AG
Brandschenkestrasse 90, P.O. Box 1686, CH-8027 Zurich
Phone +41 58 800 1000, www.efgfp.com
Singapore. Gold jumped to $1,172.30 yesterday, the highest price
since Dec. 4, as investors sought a hedge against a decline in most
major currencies. The metal reached records in euros, sterling and
the Swiss franc yesterday, gaining even as the dollar climbed. The
euro rebounded from a one-year low against the dollar and a five-
week low versus the yen after the Financial Times reported the IMF
may increase its share of financial aid to Greece by 10 billion euros
($13.2 billion) from the current 15 billion euros proposed earlier.
Soft Commodities
Corn rose for the first time in four sessions after a decline to the
lowest price in three weeks spurred buying interest. Corn for July
delivery climbed 0.8% to $3.565 a bushel on the Chicago Board of
Trade at 1:20 p.m. Seoul time. The price yesterday dropped to
$3.515, the lowest since April 7. Soybeans for July delivery gained
0.3% to $9.9575 a bushel. Nineteen of 34 traders and analysts
surveyed from Chicago to Tokyo on April 23 said corn will rise this
week, and 24 said soybeans will gain on concern over cold weather
in China. Corn fell for the first week in three, dropping 3.5%. Wheat
futures for July delivery were little changed at $4.9075 a bushel in
Chicago. The most-active contract is down 9.5% this year because
of reduced demand for U.S. grain and rising global stockpiles.
1
 .

FX
The euro rebounded from a one-year low against the dollar on
speculation the International Monetary Fund will provide more aid to
Greece, easing concern the nation’s debt woes will spread through
the region. The euro ended two days of losses versus the pound
after the Financial Times reported the IMF may increase its share of
financial aid to Greece by 10 billion euros ($13.2 billion) from the
current 15 billion euros, citing unidentified bankers and officials in
Washington. The Australian dollar rose on speculation accelerating
inflation will prompt policy makers to raise interest rates next week.
The euro rose to $1.3207 as of 1:33 p.m. in Tokyo, after earlier
dropping to $1.3145, the least since April 29, 2009. The currency
closed at $1.3175 in New York. It advanced to 86.47 pence from
86.31 pence. The euro climbed to 123.13 yen from 122.88 yen after
touching 122.37, the weakest since March 25. Australia’s currency
rose 0.7 percent to 92.21 U.S. cents and gained 0.6% to 85.90 yen.
.

FIXED INCOME
Treasury Treasuries fell on speculation yesterday’s biggest gain in
prices this year will curtail demand when the government sells $42
billion of five-year notes today. U.S. bonds surged yesterday after
Greece had its debt rating cut to junk. The rally made Treasuries
more expensive for investors who plan to bid today and at a seven-
year auction tomorrow, the last of four sales this week totaling a
record $129 billion. The yield on the benchmark 10-year note rose
three basis points to 3.71% as of 6:27 a.m. in London, according to
BGCantor Market Data. The 3.625% security due February 2020 fell
7/32, or $2.19 per $1,000 face amount, to 99 9/32. Yields slid 12
basis points yesterday, the biggest drop since Dec. 17, and they
touched 3.67%, the lowest since March 23. Treasury prices surged
yesterday after Standard & Poor’s cut Greece’s credit ratings to
high-yield, high-risk status, and borrowing costs rose in Italy,
Portugal and Ireland.
.

ECONOMIC INDICATORS OF THE WEEK

US-Date Event Survey Actual Prior
27.04.2010 Consumer Confidence (Apr) 53.5 57.9 52.5
29.04.2010 Initial Jobless Claims 445k 456k

EU-Date Event Survey Actual Prior

29.04.2010 Euro-Zone Consumer Confidence -15 -15
29.04.2010 Euro-Zone Economic Confidence 99.4 97.7

EFG Financial Products 2

Daily Market Update, 28 April 2010
GLOBAL FIGURES

Equities Commodities
Index Current Change % Change % YTD Index Current Change % Change % YTD
MSCI World 1'202 -2.13% 2.91% S&P GSCI ER 438.32 -1.61% -0.59%
SPX 1'184 -2.34% 6.15% S&P GSCI Agriculture ER 49.72 -1.11% -16.92%
INDU 10'992 -1.90% 5.41% S&P GSCI Livestock ER 215.35 -0.82% 8.13%
NDX 2'006 -2.09% 7.84% S&P GSCI Precious Metal ER 170.72 0.50% 5.93%
SX5E 2'839 -3.67% -4.26% S&P GSCI Industrial Metal ER 253.37 -4.94% 0.76%
DAX 6'160 -2.73% 3.39% S&P GSCI Energy ER 279.33 -1.44% 1.78%
SMI 6'667 -2.00% 1.86% DJAIG ER 133.36 -1.77% -4.18%
UKX 5'604 -2.61% 3.52% WTI 82.19 -0.30% 0.74%
CAC 3'845 -3.82% -2.33% Brent 85.78 -1.21% 6.44%
NKY 10'933 -2.50% 3.66% Natural Gas 4.23 0.38% -23.68%
HSI 20'994 -1.26% -4.02% Gold 1'164.80 0.22% 6.01%
IBOV 66'511 -3.43% -3.03% Silver 18.18 0.14% 7.63%
KOSPI 1'729 -1.20% 2.73% Aluminium 2'117.25 -7.27% -3.63%
SENSEX BSE 30 17'535 -0.88% 0.40% Copper 7'645.00 -1.48% 4.07%
RTSI 1'582 -1.33% 9.53% Zinc 2'335.25 -3.33% -9.26%
Tin 18'498.00 -3.12% 9.01%
Volatility Nickel 25'876.00 -4.53% 39.39%
Current Net Change Net Change 1m Lead 2'280.25 -2.52% -6.65%
WTD
Corn 356.50 0.78% -17.67%
VIX 22.81 6.19 5.04
Wheat 490.50 0.00% -13.34%
VSTOXX 28.56 4.55 8.76
Soybean 996.75 0.38% -5.90%
VDAX 22.96 3.54 5.16
Sugar 15.37 -3.03% -33.23%
VSMI 19.17 2.60 5.12
Cocoa 3'205.00 -0.71% -3.08%
Coffee 130.85 -1.36% -5.90%
Currencies
Cotton 85.57 0.43% 11.16%
Current Change % Change % YTD
Live Cattle 93.93 0.21% 7.07%
USD/CHF 1.0853 0.24% 4.62%
Feed Cattle 116.03 0.09% 16.32%
USD/JPY 93.1700 0.10% 0.16%
Lean Hogs 84.85 -0.12% 9.80%
CHF/JPY 85.8500 -0.13% -4.67%
EUR/USD 1.3203 -0.21% -8.47%
Credit
EUR/CHF 1.4330 0.01% -3.53%
iTraxx Europe IG 5yr 75.28 8.86% 23.99%
GBP/CHF 1.6569 0.22% -1.03%
iTraxx Europe Crossover 5yr 409.58 5.24% -5.07%
USD/BRL 1.7713 -1.40% 1.51%

Libor Rates Swap Rates

USD EUR CHF GBP JPY USD EUR CHF GBP JPY
1M 0.27 0.37 0.08 0.55 0.16 1Y 0.65 1.13 0.48 1.13 0.45
3M 0.33 0.59 0.24 0.66 0.24 2Y 1.21 1.42 0.80 1.71 0.47
6M 0.51 0.90 0.33 0.91 0.44 5Y 2.66 2.28 1.52 2.97 0.69
12M 1.00 1.20 0.63 1.36 0.67 10Y 3.72 3.14 2.22 3.87 1.34

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This paper has been prepared solely for information purposes and does not constitute any solicitation to buy or sell any instrument, or to engage in any trading strategy. Products mentioned
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should be aware that they are exposed to the credit risk of the issuer and the guarantor, respectively. Charts and market data provided by Reuters.

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Daily Market Update, 28 April 2010