Corvex management having a 400 million stake in the french food company. Good morning it is tuesday. Once again, European Equity markets are heading higher that said we dont have all the equity markets open today. Volumes will be lower than usual given that there is a Public Holiday in the places like india, poland, greece. The xetra dax is what were showing. Its up by 0. 25 so were still benefiting from this return to equities, this return to risk after we are trying to forget about the risk aversion that happened last week given the events between north korea and the u. S. Lets look at the european markets one by one the ftse 100 is up by 0. 1 the cac 40 is up by 0. 2 danone is a factor well get to that story in a bit. First, lets focus in on the big news out of washington and the u. S. Yesterday intels Brian Krzanich and kevin plank are the latest ceos to step down from President Trumps ceo council. This after the president failed to single out white nationalists for violence over t
Taiwan has its first female president. It may all come down to what she doesnt say in her inauguration speech. These are live images from the capital. Oflet us know what you think our top stories. Follow me on twitter rishaadtv, and use trendingbusiness. China markets underway in 30 minutes. Lets take a look at whats going on out there. Markets have turned positive in the last hour or so. We had a weaker start, but things are looking up. New zealand down by a quarter of 1 . We are processing the reaction to the fed saying june remains alive event. The s p 500 wiping out its gains for 2016, falling the most in seven weeks. Taiwan online. Malaysia pretty flat. Cpi numbers out of malaysia later on at noon hong kong time. Gaining 2 10 of 1 . , fairly stable, trading at that 110 handle. Up about a225 is 10th of 1 as well. The retracement in the u. S. Dollar gives a boost to oil prices and commodities. Taking a look at the movers of the day, it is about the energy names. Part of this is barg
It is that we have a broken political system we are trying to understand. How did it get to this situation you have with the divided party and what are the repercussions in europe . We are just trying to figure out where it goes and what it means for us here in europe. Tom i totally agree and particularly nation to nation as may makes a visit to merkel today. Now to our first word news, heres taylor riggs. Taylor Donald Trumps son announced that he had the number of votes needed to win the republican nomination. His son says that as president , trump will not take no for an answer. I know that when people tell him and cannot be done, that is when he guarantees it can be done. When someone tells him something is impossible, that is what triggers him into action. Taylor the convention also nominated mike pence. There will not be any hard targeting when theresa may meets with Angela Merkel. Merkel has said there will be no concrete negotiations until the u. K. Triggers the clause. May and
Coming to the waters of new york city for the first time in 96 years. We will speak to the ceo of the legendary event and the big money. Lets head to the market desk with julie hyman where she has the latest on the feeling markets and partisan jpmorgan. Julie yes, part is our needs. Because of that expectation, we are seeing a lift as jpmorgan came in ahead of lowered estimates. 5 of 1 . Up lets get to jpmorgan. We are seeing jpmorgan shares leading banks higher, leading stocks higher, up three. 2 . Here are some headlines. Net income down 6. 7 percent. Revenue down 3 , fixed income trading revenue down 13 . Equity trading down 7. 5 and earnings at Corporate Investment banks down 22 . Each was a smaller decline than had been estimated by analysts. As we have been talking about in recent days, people have been cutting their earnings estimates going into this season. For jpmorgan, no exception. That is one of the reasons why it was able to come in and beat estimates. Because of the list
Bloombergs headquarters in london. I am manus cranny. Time for another reading of growth in the eurozone. Italy this time. Disappointed in terms of estimates. Growth comes in quarter on quarter at 0. 2 . That after after we had the french and german numbers come in, a lackluster set of numbers. The Italian Economy grows at 0. 2 . This is super friday in terms of the overall performance. One people say is good. But lets get out to mark barton with breaking news. Mark breaking news from iea. Its on oil. This is the International Energy agency. It says Oil Stockpiles have 3ollen, have risen to billion barrels because of Strong Production and opec and elsewhere, deepening the rout in prices. Prices have fallen by 40 to the low 40s because of this, this movement by opec to sustain production and keep market share, the behest of the falling oil price. This massive cushion has inflated record supplies from saudi arabia as world fuel demand rose at the fastest pace in five years. That is not a