How well it weathered the shock of the coronavirus. A blowout performance in fixed income trading beating all but one of the large wall street banks. The cfo does not see an economic recovery anytime soon, though. There is a pickup in activity. It is stronger in some. Said, you should look at the whole world. Level,it is back to the we dont think that will happen until 2022. Nejra lets get more detail on those numbers from bnp paribas. That trading we are talking about, it surged 154 , trailing only Morgan Stanley out of wall street banks. It was a blowout performance of b. N. P. Paribas in fixed income trading. It allows the lender to move past embarrassing losses from equity derivatives at the start of the year. Basically what bnp paribas has said about that jump in fixed trading, it said volumes were driven by governments and corporations selling that to deal with the Coronavirus Crisis as well as Foreign Exchange and commodities, hedging by clients. Those results more than offset w
Good morning and welcome to bloomberg surveillance, im Francine Lacqua. The focus firmly on earnings. Impetuso give a bit of to industry groups. European stocks rising. We had pretty good earnings for american tech giants. Speaking of Economic Data and some of the bad data we had out thee, we are also getting italian gdp figure. 15 and itmate was fell less than perspective. Somee also getting breaking news out of the bank of japan. Lets get straight to the bloomberg first word news. The spanish and french economies have suffered their sharpest contractions. Output dropping 13. 8 in the quarter. The eurothe whole of area comes out at 10 00 a. M. And is expected to show a 12 slump. Talks in washington over a new pandemic relief package making little progress. Senate republicans are planning to vote. It must be part of a comprehensive plan. It gives republicans a chance to say they tried. The u. K. Has reimposed lockdown restrictions across parts of the north of england. Some britons have
And we expect a normalization of that. But you need to remember as well that in our case, we have been working to stabilize, grow the franchise, recover some market share, so what we are pleased to see is that underneath that sort of outperformance in the market environment that we have been in, we have seen really good franchise stabilization traction , client engagement, improvement in clients. We think that bodes well for the future. You are expecting slightly higher revenue for the full year. Not too conservative now given what we have seen in the first half . It it would be james would be a normalization but i think an improvement on last years second half. Again, especially in our businesses, where a year ago, we were going through a restructuring and there was some uncertainty around our people and franchise, so with that now behind us, we see momentum in the core business, and we would like to see a secondhalf performance well ahead of last years second half, but we will see ho
Coronavirus cases top 12 million. Vice president pence says schools should reopen. Raphael bostic warrants about the hit to Consumer Sentiment. Stock market frenzy pushes the shanghai composite to its highest level since 2008. Thats after mega cap tech took the nasdaq to another record overnight in the u. S. Recovervenue begins to from the pandemic fuel slowdown as your europes Technology Company sees a bounceback and Software Deals throughout asia. Just under one hour away from the start of cash equity trading in europe. Lets take a look at where futures are pointing us right now. Ftse futures up about. 6 . Take a look at u. S. Futures. They have been down though only slightly. Anna, what have you got . Anna lets have a look at breaking news. Numbers coming out from rollsroyce. The engineering business, the engine maker here in the u. K. Giving us details for Free Cash Flow and cost medication action. They themselves are taking it. One billion pounds for cost mitigation action for 202
Here in mornings with maria. Harvey weinstein guilty, the disgraced movie mogul found guilty of Sexual Assault but acquitted of the most serious in the trial. Weinstein is new york City Hospital as hes suffering suffm high Blood Pressure. 2020 democrats back on debate stage tonight in South Carolina, the Economic Impact of 2020 as President Trump warns of stock market crash, quote, like never before if he loses the election and abcs hit show the bachelor maybe looking to cast the silver fox, how the reality show is giving Senior Citizens a new shot at love, mornings with maria begins right now. Maria of course, we are watching markets this morning with the stabilization, Harvey Weinstein ended up waking in hospital, after found guilty of sexual act and thirddegree rape. Weinstein now faces decades in prison in whats being described as a victory for me too movement. His attorneys will appeal. It is official into it is acquiring credit karma, tax filing planning heavy quitter between qui