Financial markets in europe, the ftse very slightly up. Sally . If men, orwomen, grappling in a ring is yourthing well talk to the entrepreneur whose business helps wrestling fans follow their heroes around the world. And what you think of theresa mays plastic plans . Fantastic, or do they not go far enough . Do get in touch. Hello and welcome to business live. We start with brexit, and the future of britains huge financial industry once it leaves the eu next year. Today the uk chancellor, philip hammond, and brexit secretary david davis are in germany trying to win support for a favourable post brexit trade deal, especially when it comes to Financial Services. The Financial Sector is the uks biggest exporter, accounting for 10 of the entire economy and 2. 2 million jobs. But the uk argues the city of london is also important for europe. Mr hammond and mr davis will remind germany its firms need access to londons financial markets. The bosses of barclays, insurance giant aviva and Gold
More activity when it comes to asian markets. They are trending higher in what was a pretty terrible session yesterday. To regulare back coming back online. Take a look at this chart. This is an interesting phenomenon to note. You do not think of china as being a dividend market. But it is in this way. Chinese stocks come in terms of companies that handout dividend, have been outperforming the most since 2013. These players are few and far between. It is one of the stingiest markets globally when it comes to shareholder payouts. We have dividend payout supplies. We had a rally from state owned companies. Rats we were seeing a start of a new trend. But it is part of returning shareholder value. To an employeeg from fidelity who said this trend would likely continue. This is going into the potentially unlucky quarter. We are 30 minutes away from that open in shanghai. Hong kong as well which was often yesterday. Singapore, taiwan, and malaysia is just coming online. Sydney where it was n
In the next hour we will be talking with sheila patel, Goldman Sachs ceo international. Xi and talk about President Trump in light of that north korean Ballistic Missile overnight. Also, how are investors in asia handling that a geopolitical risk and the potential of a trade war. David that is looking towards asia, what about europe . On brexit, we will have some discussion about the terms of the negotiation. Alix the Eu Parliament approving that deal, saying youve got to pay your bill before we talk about the transitional agreement which will be most at most, three years. Who better to speak on that than Andrew Wilson, Goldman Sachs ceo of europe . Middle east as well as africa. It should be a great conversation. David jonathan will be very happy since you touched on south africa. Good to have you down there. Now, we will be getting the feds if rmc meeting last month. Yesterday the fed was in the news for different reason where kersident jeffrey lac resigned abruptly, admitting a role
By. We are looking at mildly bearish estimates. This is a bit of a reversal. We have the averages all higher earlier. The nasdaq had carved out a new intraday high. Now look at this declines. The nasdaq down nearly. 5 . All this after those fomc minutes came out at 2 00 p. M. , so investors having a bearish take away from that meeting, not ready for rate hikes or the idea they can unwind the Balance Sheet. Lower, down about. 5 percent. Bearish action once again for stocks. Of course, out of those fomc minutes, one of the big locus is wasne of the big focuses the Balance Sheet. This is a longerterm chart from 2007. In yellow, we have the dead Balance Sheet. Extraordinary accommodation that helps save the financial market. While that accommodation was coming on, not surprising that we had rates go to alltime lows. A real reversal. What idea is if the fed does look at its Balance Sheet, perhaps we are seeing some idea that investors are not they, but its worth noting 10year could still go
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