Replaces his long serving prime minister. Attention turns to the shape of constitutional changes to come. Manus a warm welcome to daybreak europe. It aresident because monster deal. The president calls it a monster deal. The meat and potatoes will come in phase two. China is the main loser in this major truce. The question we have to ask ourselves for markets is, this help globalally growth . Nejra the question is, because the tariffs made on two thirds of imports from china, the fact that china seems like the loser here, you wonder how the enforcement is going to work in the big question for markets is, is it phase one and die . We phase one and done . We ever moved to phase two . Manus indeed, those are the key questions. Profit, margins, and the sales number, all three coming through the top end of the estimates. What else do we have on the details . Nejra the First Quarter guidance for sales beat estimates, net profit was above all analyst estimates and for quarter growthth as well
Australia starts to clean up from the bushfires. This as insurance claims keep rising. The total is approaching 1 billion u. S. Shery lets get you started with a quick check of the markets. It was another day of session highs. We saw the dow on a record high for a fifth consecutive session, closing up 2 10 of 1 . Of course, we had positive u. S. Earnings, the season kicking off, not to mention the pause in the china u. S. Trade war and the positive Economic Data with u. S. Housing surging in the previous much month. We had telecom and utilities leading the gains. We had the Energy Sector, oil losing ground for the second consecutive week, but keep your eyes on the oil prices. We did have geopolitical tensions in libya and iraq that could be moving crude. The nasdaq gained three tons of 1 . Lets see how things are shaping up for the asian market. Sophie asian docs are headed for a mixed start after a sevenweek advantage. Thats the longest winning streak in two years. Investors will be a
It is not only a big conservative majority giving a lift to u. K. Stocks, the pound is gaining, but this phase one, or at least something that feels like a phase one [indiscernible] we will not see extra tariffs on sunday. It is going to be a risk on mood to markets overall. I am delighted to be joined by a conservative party spokesman. What a win for Boris Johnson. What are the markets looking at . What will you deliver, as the tory party, that the market likes so much . What we will deliver is a degree of certainty. Weve got a working majority, and that means we can deliver a withdrawal from the European Union on the timescale that we set out, and we can get on with thrashing out a trade deal with the eu and investing in an infrastructure that will help continue the growth in the u. K. Economy. Francine if a Withdrawal Agreement goes through, do you have any idea when that could be . We will certainly start the process before christmas, and we will do so in a way that we can get thro
Shery the bushfires rage on in australia with at least nine people known to have died. The Prime Minister says there is no direct link to climate change. Paul lets get straight to the Market Action with sophie in hong kong. We have the holidays upon us in tokyo. We are seeing stocks date after a threeday drop in the topix in nikkei. Flipping the board, checking in on bonds. I want to highlight tenured jgbs. , treasuries just opening on change right here with the 10 year yield. Bonds arechmark offering 5th street sessions. Aussie shares are sliding for a Third Straight session led lower by resource players. This morning. We are seeing gains for the korean benchmark. Yuan Holding Steady against the greenback. Shery lets discuss those numbers out of south korea because we saw experts in the first 20 days of september falling only 2 . Exports with china rose 5. 3 year on year. We had a little bit of weakness with chip exports falling 16. 7 . Also, imports falling only half a percent year o
Stories. We begin with ongoing protests in hong kong. President trump signed a bill backing protesters. This pump to china to threaten retaliation against the u. S. As it nears a phase one trade deal. The chinese spokesman saying u. S. Stopsuggest the sticking obstinately to its course or china will take resolute countermeasures. Where does this leave them in that phase one trade deal . Reporter it is very interesting because for several days, weve had the chutneys threatening nonspecific countermeasures, but there havent really got into any detail. The most weve had is the suggestion they might put a ban on those who drafted the bill from entering china or hong kong, which is a pretty lowkey response. The fact that we had several days of this without any suggestions without any specifics suggests beijing is grappling with how to handle this. It is clear the u. S. Once a trade deal done very soon. The chinese want a trade deal done as soon as possible. They dont want to bring in tensio