Even the European Central bank. Instead, it was the Swiss National bank stunning currency markets around the world by removing the price ceiling on the swiss bank designed to keep its currency artificially low against the euro. That sent the value of the frank soaring and swiss stocks tumbling. Today, the frank at 1 point up about 20 when it was all said and done against the euro. Now, the defensive move comes ahead of an expected announcement from the Ecbs Mario Draghi next week of a massive euro zone quantitateive easing plan like one in the u. S. The past few years. That would weaken the euro sending investors flooding into the frank. Lisa boyason has more. Shes in zurich. Reporter a swiss shock. Theres simply no other way of describing what took place on the swiss markets. The Swiss National bank coming through and surprising everybody by deciding to scrap a cap thats been in place preventing the swiss frank from appreciating above a certain level towards the euro. At the same time
Even the European Central bank. Instead, it was the Swiss National bank stunning currency markets around the world by removing the price ceiling on the swiss bank designed to keep its currency artificially low against the euro. That sent the value of the frank soaring and swiss stocks tumbling. Today, the frank at 1 point up about 20 when it was all said and done against the euro. Now, the defensive move comes ahead of an expected announcement from the Ecbs Mario Draghi next week of a massive euro zone quantitateive easing plan like one in the u. S. The past few years. That would weaken the euro sending investors flooding into the frank. Lisa boyason has more. Shes in zurich. Reporter a swiss shock. Theres simply no other way of describing what took place on the swiss markets. The Swiss National bank coming through and surprising everybody by deciding to scrap a cap thats been in place preventing the swiss frank from appreciating above a certain level towards the euro. At the same time
Expensive. We are seeing analysts downgrade profits. They also say autos may well be of interest. Equities are opening lower. Deutsche bank is making a run this morning. Some individual names are certainly worth taking a look at this morning. George osborne has reappointed the cafferty of the npc. Npc. Tesco is up 1 . Potentially after mr. Clarks termination. Deutsche banks flat at the moment. The challenges will be raised. Vodafone is up 13 . 13 . What they have said here is that the standalone process for vodafone is something they are questioning. They need to reset the dividend strategy. They need to contemplate taking liberty as being the senior role. That is something they are saying. Operating synergies could amount to 22 billion. They really do like that tesco news. After that payoff to mr. Clark. The mining companies, why am i surprised . Chinas Growth Numbers are disappointing. The aussies are worried about the chinese level of growth. Of course you are seeing billys up. Glen
If youre waking thup morning be, lets get you up to speed on the markets. The futures are suggesting a fairly negative open. Dow open lower by 130 points. Wall street is returning from a long Holiday Weekend which included no trading on friday and jobs report though despite their trading on friday which shows march payrolls raising 126,000. That was much weaker than expected. We had lots of people on the set on friday. Not a Single Person got close to the number. Everybody was above. All though everybody was below i was not. I was not above. I saw the thing. Everybody was below. Everybody was below the estimate. This is our thing. Not your thing. We do it every morning when it comes on. You cant duoover. Did you draw it yourself . I did. I drew the bottom part. The top part you like it . It was great. Every month i have to come up with something. I wont play the stupid. You see how productive it is. Like it matters what my guess is. Write down three numbers. Who cares what i i put pie
Neighbors homes toogive himself a little more space. It is all about privacy. Those stories this hour on markets now. Connell there we go. How is it going . It is friday. Dagen why are you being so friendly . Because you do not have to see me for the next two days. That is why. Lets get to the markets. Nicole petallides is at the new york stock exchange. Nicole taking a little bit of a breather after yesterday. It was a great day on wall street yesterday. Today will be a little bit more of a quiet type day. Yesterday we ran up pretty fast. You do not normally see that. We are seeing the dow up. We know that in washington they continue to try with the negotiations. The october 17 date is still something they are keeping in mind. Connell thank you. Dagen president obama will meet with the last of the four congressional caucuses over the debt ceiling. Connell Republican Leaders met with the president last night. They still do not have a deal. We have a Harvard Business School Professor jo