Nyrstar, Thomas Cook, Vallourec, Senvion

All,

Just some noteworthy movements yesterday:

- Nyrstar: we are glad we’ve stayed out of it.

- Thomas Cook: keeps slipping into Thursday’s results. Tomas is working on the name and happy to discuss findings.

- Vallourec: Also Tomas’ name (in production). The analyst downgrades are coming and the RCF appears to be coming out. Bonds have detached from oil prices and are looking for a bottom. 

- Senvion: My name (in production). Bonds seem to have found a floor around 50 - for now.