That crisis looks set to continue. Catalonia is barely more than 6 of spains territory. But it accounts for around a fifth of the spanish economy, and almost a quarter of exports, as well as 16 of the population. Last week the bank of spain cut its National Economic growth forecast for next year from 2. 5 to 2. 4 , citing the uncertainty around catalonia as one of the main reasons. Businesses arent waiting to find out the impact. Many are moving their legal headquarters out of catalonia. Some reports suggest 3,000 have done so since the referendum, although politicians have been arguing over the numbers. Take a look at the spanish stock market. It was rising strongly in the first half of the year. Since 0ctobers referendum its been on a downward trajectory. Lets get more on this story. 0ur correspondent guy hedgecoe is in barcelona. Hejoins me via webcam. You have been living in spain for some time. Do you think that what we see today will be the end of the independence question . inau
Surveillance. Lets check in on your markets. You can see the stoxx 600 pretty much flat. They are down a touch, but pretty much unchanged. We did see a nice rally that started in the u. S. Filtering through to asia. Oil advancing. Havea reminder, we may little trading volumes because it is president s day in the u. S. And Chinese Markets are closed after the new year. Coming up, we speak to the former italian Prime Minister. That is coming up next. Then we talked to Credit Suisse. We talk sustainable investing. Later on, we talk bonds, the selloff, and what is next in the markets with andrea silverman. Lets get to the bloomberg first word news. Nejra u. K. Prime minister theresa may and her ministers gather on thursday. May seeks to unite the factions in the cabinet. It is becoming clearer that the u. K. Wants to stay close to the union in some areas while breaking free in others. Employment numbers are scheduled for monday. Imports exports and both registered strong gains in january.
Headlines from outside the business world. Emma chandra is here. Emma thank you, david. It was terrifying night on the Las Vegas Strip. Police say a gunman perched in the mandalay resort and casino opened fire on an outdoor music festival. The death toll keeps climbing. Eres the las vegas sheriff. The number of injured, i do not know yet. But we are looking in excess of 50 individuals dead and over 200 individuals injured at this point. Emma police swat units stormed the mandalay bay and killed the suspect in the shootout on the 32nd floor. Hes been named as steven paddock, a 64yearold las vegas resident with no known terror connection. Hes believed to have checked into the hotel as a guest. Authorities say theyve also located a woman who was described as a person of interest. Meanwhile, nearby Mccarran International airport has resumed operations. Some flights had been diverted to other airports during the shooting. And well bring you more on this developing story as it breaks. David
In the data today and as we look to the jobs report tomorrow. If you look at whats going on in stocks, we are seeing very similar action to recent to action reasonably. Gains across the board. All three major averages higher. Onenasdaq is only up quarter of 1 . All three averages are trading at records on a closing basis. The s p and nasdaq are on an intraday basis as well. One group weve seen lagging, the socalled fang stocks is rebounding. All trading higher. Netflix in particular, it has been bugging the recent downtrend. Mashable is reporting the company will raise prices in the u. S. In november on its middle and toptier plans. That stock is doing the best among the fang. Some of the best include constellation brands. Mexican beers earnings desk paper earnings estimates. Also growth on its highermargin brands. Raising its forecast as well as those shares rise. Bio jen, Morgan Stanley is saying the company has been robbed of medication remains underappreciated after they outpaced i
Show but first things first. A couplet to spain in of minutes but this is what your markets are doing. I want to keep a little bit of an eye on the euro. Euro little changed as the catalan president prolonged uncertainty over the regions next move towards independence. Want to get you to treasuries, study. European equities edging lower. With investors looking for the release of the meetings from the ecb. Lets get to first word news. Sebastian catalonias president has kept the rest of spain guessing on if and when he will declare independence. He reiterated an offer of mediated talks while attacking king felipe vi. King made his speech, the politics of rajoys government that has been a catastrophe towards catalonia and ignored the millions of catalan that you not think like them. It ignores the catalan that have been victims of police violence. The treasury secretary up puerto rico was calling on provide billions of dollars in emergency funds. On tuesday, donna tim suggested the u. S.