Spreading weight to the front foot – forwards tighten for Cu, Al, Ni, Sn Yum Cha饮茶 Negative big picture unchanged Lowering price assumptions as OPEC keeps up the pressure DB Today - Global/Macro Buy: 1H15 negative surprise vs previous guidance, but valuation still attractive Portugal has always suffered as a result of its euro-zone membership: Why? What would be the spontaneous exchange rate of the Chinese RMB (i.e., without intervention via foreign exchange reserves)? The next crisis will be worse than previous ones 1H15 slightly below expectation on lower sales and higher expense; Hold