School massacre. Hello from sydney, where our where in the. , and opening the market spread. Had to theke you asiapacific trading, but today markets were closed because of the president s day holiday, so i will send it over to you. Heidi european stocks faltering and futures looking at low bit low, but look at the set up here in new zealand where we are seeing trading under way and had output and input prices coming in, pretty much banking on expectations. Seeing a flat session when it comes to kiwi stocks and the kiwi dollar trading at 7371 with the u. S. Dollar a little bit weaker overnight. Futures in australia, ahead of four pointspen is the downside, and the aussie dollar also a touch weaker against the euro and the yen, and the aussie kiwi is at 1. 0737. Down,o have gold futures and crude seeing gains, wti lets get you to first world news. The reason may is preparing to set up her vision for the u. K. Post exit trade deal in a speech seem to aim at domestic trading. Did as yet th
There. Retirement night 602 million , the headlines coming out fast and we will bring you some of the figures as soon as we get them. Erik wells fargo is one of the more consistent performers on wall street, beating earnings per share would be the seventh time in the seventh quarter. They are managing analyst expectations. The big issue for wells fargo is about the Net Interest Margin. The Net Interest Margin is almost 3 . Wells fargo among the biggest banks with the very best Net Interest Margin. The difference affects the Interest Rates between the Interest Rate at which you lend and borrow. And it was of the vacation but more or less what it works out to. And the second bank of the day jpmorgan being the first where we see an increase in the interest margin. Youre heading toward that fed rate hike whenever that happens and that will be good for banks but this gives us an indication that it seems that the banks of a slight bit more Pricing Power as we head toward the rate hike. Matt
December if we see a significant deterioration in economic data. We get the new jobless the new job claims tomorrow. And in the payroll will we see a third month . Were up 0. 3 in france. Later today will see how greece will handle it in two days. All eyes on the dollar. We saw the wall street journal coming up. That statement that he thinks there will only wait if there is a significant deterioration. We have seen gold continuing to selloff over the past few days and we do see no one being leeward into it no one being lured into it. Lets have a little look at oil and we are starting to see oil racking up a little bit. An interesting ceo interviewed by anna earlier. We are trading up some several percent over the past couple of days. Everyone is waiting to see where the u. S. Stockpiles go. Will we see them fall as many anticipate . We are seeing fivemonth lows when it comes to the prices to put them in perspective. We have had a number of earnings in the banking front. Member they see
Word of the day for traders. Chinese stocks extended the worst fiveday drop since 1996. The marx apparently unconvinced by the peoples bank of china decision to cut markets rate the apparently unconvinced. Stoxx 60019 indices are down here lets cross to our chief asia correspondent. Enda, a very good day to you. Markets simply unconvinced is the word. Enda unconvinced is exactly right. What the Global Markets wanted out of china was a Circuit Breaker. There is a feeling this crisis began in china. Dona needed to intervene, to something. It does not look like what they have done has been enough. The central bank will need to cut rates further. That the government will need to do more to shore up the chinese economy and turn sentiment around. The positive thing is that china has monday of more ammunition in its arsenal if needed china has plenty more ammunition in its arsenal if needed. Francine what is next . I guess the question is how much will they intervene . Enda well, so this is o
Bloombergs European Headquarters in london. Manus what a week. Volatility has been the byword. European markets are trading higher, as asia attract the against today gain on u. S. Markets in more than six years. Francine lets get straight to mark bartons for all the barton for all the details. Mark what an amazing week. Chinese shares, the epicenter over the last week. Have a look at the shanghai composite. As i showed you, a five day chart. Because this week has been an extraordinary week. In the last couple days, the shanghai composite has rallied by 10. 5 . Dont forget. Over this five day period, in a number there you can see the shanghai composite is down by 8 . It is down 18 since the yuan devaluation. 38 following the market peak. Resurgence is down to speculation authorities are propping up markets before the president takes the stage at a world war ii victory parade next week. Thats whats pushing the chinese equity market higher for a second day. I want to put it in the context