To find out whether those that it owes money to will throw them a lifeline or claw the money back at any cost. Steinhoff may not be a household name to you. Let me give you a bit of background. Its origins are in the furniture business in germany in the 60s. But its now a global giant, with brands across europe and the us. Alarm bells were ringing last week when it failed to publish its financial results. What we did learn is that its grappling with a seven billion dollar hole in its finances. Little wonder that the regulators are now taking a look. The value of shares is down 80 since the news broke, as investors stampeded for the exit. The scandal has claimed the scalps of both the chairman and the chief executive. Those that gave the Company Money to help it expand are now exposed lerato mbele has been following the story from johannesburg. Lerato, this is a huge corporate scandal, lots of people are saying this is perhaps the biggest thing we have seen on thejohannesburg stock exch
Ipoint banks for the aramco and allows women to attend football matches. This is Bloomberg Markets middle east. I am yousef gamal eldin in dubai. Remember the handoff from the United States, gains for a fifth straight session. The european session was strong. We saw the biggest weekly advance since april. We are seeing risk assets continuing with strength into 2018. Outlook from companies will dictate the next move for indices. The u. S. Dollar weaker after pretty much snapping a set of declines. Youre looking at again story standing out. The yen up the most in a week after boj reduced purchases of superlong bonds. Yen slide is looking like a risk aversion team. S p futures a little retreat. Zinc futures outcome of the story around supply side risks, the squeeze around those stockpiles. Lets look at other key risk assets. We have a story on brent crude. Just above 68 a barrel, up 1 . U. S. Inventories have decline for an eighth week. U. S. 10 year study at 2. 49 . This is a story of tr
Airbus of the a3 80 questions the future of the jumbo pending helps of survival on the emirates. I am yousef gamal eldin. The u. S. Bond market coming back online. To asian equity session off a strong start, although a mixed action or. On thebal market bloomberg, the hang seng up 1. 3 , some weakness with the aussie stocks. A bhp ratingsnd cut weighing heavily. Broader session dominated by Consumer Staples and Technology Sectors offsetting a decline in materials. Fluctuating, the dollaryen one of the major moves in the key currency pairs. , down. 4 . E speak relative stability in the u. S. Dollar for the moment. ,t is hitting the base metals aluminum down 2. 2 . Also sink down. 8 . And i will the board show you what is happening with brent crude. Currently down. Wti stronger, a diverging richer on that front. The u. S. Tenure currently unchanged. We have the eurodollar story. We will get into that shortly. S p 500 futures higher. We do have citigroup expected to post fourthquarter resu
Trading higher now as the greenback finally found a flaw. A conference call. Merger,s announced a but will costcutting be enough to justify this deal . Than half anless hour away from the european open. Take a look at where futures are trading. As you have been talking about this morning, as well as on n stocksk, asian moved lower overnight. A quick look at treasuries right 2. 557 . Still not seeing a huge selloff in european debt as yields are down. Gmm,lets talk about the thers acting as a drag on strictly an story. Central Bank Decision out of canada later today. The Canadian Market down 1. 5 yesterday. Russia has opened up this morning by about 0. 8 . I will give you a heads up on what is happening there. India is looking a little more positive. Asia is down, but not that down. There it is. There is the dollar and we will talk to mark cudmore that what is going on with the greenback. Lets roll this off and show you the commodities space. Theres the sugar high coming to an end, down
Us put this into some perspective, our Senior Market commentator mark santolli. You have the two day shakeout that is not yet undone last weeks rally you kind of gone up so far in a Straight Line and everybody acknowledged that the market itself is very extended to the upside sentiment is way too bullish you needed some kind of a rest i think youve had convenient headlines to come in there and grasp on to, whether it is apple on iphone demand they say okay maybe its time wlachlt is interesting is a lot of people pointing to this month end idea of rotating from stocks into bonds bonds dont have a very strong bid right now. Yields are not going up much anymore. But theyre just sitting there so i dont know if its just that or if its just kind of time for a reset and a rest of sentiment. Does it make you worry about february it makes you acknowledge that february is smimdzometimes a gi back month i think that brings it pretty much front of mind right now i think if you look back to august,