EM/LATAM STRATEGY: Brazil: Positioning reinforces our positive view 4Q17 production: Stronger set of numbers 4Q17 results sluggish as expected; edge narrowing in 2018 Better-than-expected profit alert; Jan data show further stabilization signs FY17 in line; tight CBD office supply and Langham turnaround to drive growth A good kickoff for the new year Soft earnings outlook,but technology development now the focus 4Q17 in line; expect fast ramp-up at MGM Cotai TRADING IDEA – MID CAP TARGETS FOR MARKET REBOUND Global mining:Copperbelt concerns reemerge: DRC tax hikes & Zambian power worries