Today. I should tell you if we take a look at the indices, you have the ftse 100 bouncing back a little bit from last weeks weakness putting in the worst week in performance given the clues about. The dax is up this morning now overall europe is doing pretty well. Also thanks to the psi 20. The portuguese index not an index that will usually focus on its up by roughly 1. 6 . Port few gall has returned be to investment grading after 5. 5 very long years. Take a look at the portuguese yield tumbling roughly the lowest in the year s p the first of the big three Credit Ratings or agencies to look portugal back to an Investment Grade now deutsch bank ceo says market volatility may be higher than people think and low Interest Rates will keep hurting bank profits he spoke exclusively to nancy. Volatility is actually higher so when you price an option or the market prices an option, its using applied volatility thats been very low for technical factors, just buying and selling futures options.
Resolves itself. Theresa may hopes her speech in florence will break the brexit deadlock as she prepares to offer better protections for eu citizens as well as outline the divorce payment plan. Loreal shares jump as the death of heiress Liliane Bettencourt puts the beauty companys agreement with nestle under review, opening the door for a stake increase or even a full buyout. Good morning its friday. Let me get straight to some data in the form of the eurozone flash pmi for september. We saw prints coming out of germany and france those were much better than expected what youre seeing from the eurozone is better than expected flash composite is 56. 7 verses a forecast of 55. 6 and an august print of 55. 7. Thats better than expectations. The euro dollar pair is rising on the back of these prints. Up by 0. 4 still below the 1. 20 handle. Currently at 1. 1990. Lets look at how european stocks are faring. The stoxx 600 off just a smidge. Just really a busy day not just for the markets, bu
Rate. Sydney, its just past 8 00 a. M. , im paul allen. For we are two hours away from the opening of asias first major market. It is just past 6 00 p. M. In new york, im Kathleen Hays. Elections made the headlines today, conclusive ones in germany, new england new zealand, and a possible snap vote in japan. Angela merkel now faces drawn out Coalition Talks after former partner, the fpb says they go into office opposition. News from germany is the return of the far right to Parliament First time since world war ii. New zealand also faces possibly weeks of uncertainty after Prime Minister bill english fell just short of the majority in the house of representatives. His National Party, claiming 58 of the 120 states leading labor to 45 states. Those never could change those numbers could change. Now its back to to talk to the antiimmigrant new Zealand First party. Westin peters is going to be the kingmaker there. Lets take a look at new zealand stocks. The clock have changed, let us see w
In europe. Sterling is a little bit lower. You had the moodys downgraded friday but the market yawned at that. Im looking at wti versus brent, and unbelievable move, almost at seven dollars. David its time for your morning brief. We will hear for room we will hear from a range of central bankers. William dudley will talk about Workforce Development at 8 30 a. M. Eastern time and then we will had to russells where the ecb president mario draghi will speak at 9 00 a. M. Eastern time. Charles evans will be this afternoon. At 12 40 p. M. Neel kashkari will speak at 6 30 p. M. This evening. Jonathan thats your morning beef brief every day. When they dont talk they do, when they do when they dont do they talk. Jonathan a victory in germany was marked by the popular party. A major new challenges in front of us namely the fact that the afd has entered parliament. We shall certainly analyze this closely because want to gain back those voters of the afd by solving these problems, by giving them
The german lenders rating cut as it struggles through another strategic overhaul. The stoxx start trading in about 30 minutes time. Matt take a look at what we see on futures, equity Index Futures are up. Yesterday we saw the cash trade closed up across the board with the exception of the ftse. Take a look at the moon to trade in the bond trade. We are trading around 48. We had gone up through 50 yesterday. You saw real jump in yields, around the world yesterday, but also here in germany. Now we are back into that range where we have been sitting. Guy . Reachedterday, equities their bid. This morning you have the yen down against the dollar, the kiwi down against the dollar, the swiss franc down against the dollar. You need to take a look at yesterday. You can see on the bbdxy. Today we are coming in and sitting at the backend of that process. We will figure out whether this is monthend listening to whether there is more to it. It is coarser but lets talk about the things we need to fo