Management urges bhp billiton to unify in australia. And slashing staleys salary. The barclays board decides on an very significant pay cut for the ceo following a whistleblowing probe. Will regulators go further, matt . Matt interesting breaking story that we will continue to follow. I want to take a look at the half hour to go until european open, at what futures are doing, at what the other risk assets are showing us. It looks like a risk on day to some extent. We see futures rising, although not huge gains. The euro stocks 50 futures up, more significant gains in london and frankfurt, not so much in paris. But if you take a look at bunds, it looks like investors they had been selling off german debt, and that push the yield up at the beginning of session. They have been buying at the route the first half hour of trade. You can see the trend here is risk off. If you look at the other asset classes, you see a risk off signal from the asian trade going into european trade as well. Guy
Rupert harrison joins us for the hour and in less than 15 minutes we speak to the Banca Popolare di milano ceo. Weekso look ahead to the Big Bank Earnings headlined by Goldman Sachs. Bank of america is coming up. The first thing we have to do is check the markets. A little bit of volatility, 16. 84 gaining from 0. 5. Overall european stocks a little bit down. There was movement after we heard from janet yellen that she would not mind a u. S. Economy that is a little heated up. That would help with growth and she believes that would help with consolidation of the labor market. Banks, i have put those in the cross asset check because we are speaking to the ceo of dpm. The european impetus is getting a little bit of left desk lift. Lift. Lets get to the bloomberg first word news. U. K. Economye the has been more resilient than expected since the brexit vote may be lulling people into a false sense of security according to a report. Concerns that written could lose its access to the Single
Corn futures are adding to gains as a result in chicago trading. This is a crop report. It includes Crop Production numbers. It raises the winter wheat out as well. There is a result corn crop cut. It sees a lighter supply estimate for soybeans. This is overall in the world. ,orn and soy in wheat forecasts at least for coin in soybean, its weaker than expected. Its higher when it comes to wheat. We is little bit more surplus. The weather has been an issue. Potential hotter summer down the road. That could damage the land of the crops being planted. Scarlet were going to get more information on this. We were at guys together. Scarlet lets head over to shery ahn who has the latest. Some ahn there was caution before. Happy friday. We are seeing a global stocks retreating. This is from the biggest twoday decline in a month. And theseeing the dow nasdaq falling across the board. This is the second day of retreats. Getting itstors ready. We have the fed meeting next week. 7 brexit vote. At o
European financials actually face . They are less than half an hour away from the European Equity market open. Good morning, caroline. Lets talk about where we think this story will go with the equity market open. Go to the wei function. Faire down by 0. 5 on the market value. I would say,. 4 on average. I want to talk about Something Else for just a moment, and that is what is happening in terms of these headlines. You can kind of understand why, that you need to take the next step. And the next step is a really important one. 00 is a global1 index, and this morning i priced it in euros. In euros, we are down by 9 . In japanese yen, we are down by around 20 , but that could be a different story. Lets talk about the 250, because this is an interesting story. 250 is terms, the ftse down by 18 , folks. The pound has been absolutely backwards. This is the way you need to see the market. I would argue not to follow these headlines, to put a positive spin on the ftse 100. Because, lets face
Intraday and then it fell. David 11 14 a. M. Julie wow. You are keeping track. That has paired into earlier gains a lot of that has to do with what is happening with oil prices. If you look at s p 500 oil, you will see intraday we do not have exact times on your, david, but youize 11 14, can see the trajectory of stocks. We had the intraday low in a pretty short time over the course of the day. Indeed, it is Energy Stocks pulling back the most. You have Energy Shares down the most by 3 . Materials are dragging although it looks like a mixed picture overall. Energy, however, is not mixed whatsoever. This looks at the daily returns of the individual members of the s p energy index. You can see none of them are higher today. A broadbased selloff. Interms of individual stocks that group, we have a diverse group. Murphy oil, transocean, energy, transocean falling as it is buying out a stake in a joint venture. That is adding to a negative tone here. Obviously oil is a big part of the story.