• Macro: Markets ended the day mixed yesterday with the Stoxx 600 broad index rising slightly, while the S&P 500 and the Nasdaq ended in the red, as investors de-risked ahead of jobs data out later today. Later this morning, Eurozone Q3 GDP growth is expected to remain at 0.9%, whilst in the US at 13:30, we have November Nonfarm Payrolls expected to come in at 218k and Unemployment rate expected to remain flat at 4.1%. At 15:00, the University of Michigan Sentiment index is expected to improve in December. Fed speakers today will include Bowman, Goolsbee, Hammack and Daly.
• Stock: We have updates on our recent meeting with Kerry Group’s CFO along with the financial terms of Aviva’s takeover deal of DirectLine. (Comment attached
• Debt: Core bond yields moved higher in Europe yesterday despite a weaker than forecast German Industrial Production print.

Opportunities this week:

• The selloff in Kingspan’s shares over the past couple of weeks has the stock near the bottom end of its trading range over the past six months. As such, we view it as an attractive trading opportunity to add exposure to the name. (BUY PT:€96).
• We are upgrading our target price for PTSB to €2.30 (39.8% upside) from €1.83 following a positive reassessment of the bank’s expected relative performance versus the other Irish pillar banks.
• Last week we held a meeting with Supermarket Income REIT discussing its optimism on the direction of valuations, SUPR’s landmark voyage into France and improving investor appetite. (BUY PT: £0.88).