Stocks rising, gaining for a third consecutive day. These are all the currencies falling against the dollar, among them the pound. We have bond yields rising. You,corporate news for Jenna Raleigh 2 lower generale 2 lower. What it wants to do is increase efficiency, improve capital risks. Ion, and mitigate generateny plans to one billion euros from disposal and lower operating costs by 200 Million Euros in its mature markets by 2019. European insurers struggling to sustain earnings as investment returns fall and competition puts pressure on prices as well. 2 today. N by the headlines for us at bloomberg, the economy will grow 1. 4 next year. The 2018 forecast is 1. 7 versus 2. 1 . It will increase with an extra 122 billion pounds to be raised compared with1 the march predictions. The government is no longer trying to balance the budget by according to hammond, but he did pledge to balance the books early in the next tenure, in the next parliament. The 10 year yield up by 10 basis points
Dan what is next is that we have reported that mr. Renzi, according to one italian news agency, has already met with the italian president. He has to formally submit his resignation and then resolve this political crisis, turning it over to the italian president , who will hold probably two days of Political Consultations with the leaders partiess political before deciding on a mandate government for the country. David a lot of focus was on the italian banks and what this would mean for the italian banks. Do we have any sense of the answer to that question . There aretle bit, but still a lot of Unanswered Questions so far. , the worlds oldest bank is in the midst of a 5 billion euro Capital Raising plan. It has started the first leg of that. The board is probably meeting today. They are likely to put out a statement to find out what happens next. Are they going to proceed with this plan or perhaps postpone it, given that while markets are not as volatile as people expected today, who k
Over there. Im just going to get rid of this on the bottom. This is looking at existing home sales. This the outpacing we were talking about. You were talking about typically new homes being pricier than existing homes. Thats been driving that particular trend. Something else i wanted to mention it, this is the largest luxury homebuilder in the United States and Toll Brothers is beating estimates. The market for costlier home is holding up. Company says its deliveries were up 9 and the average 855,000 is aof significant increase year over year. If you look at the other homebuilders, they are seen a lift here. Its a pretty broad left across the industry before new home sales. That is emphasizing it. What about the broader markets . Julie weve seen a lot of strength in the market. Weve got a gain of about 1 . What interesting is nothing takes significant has changed since yesterday. Were talking about the Federal Reserve being more aggressive in the market have been pricing and. This is
Moving up. We are all waiting for the jobs report tomorrow. Joe you have to talk about the resiliency of this market. We were down earlier in the day, and another come back to close over 2100. That is an important level. One thing that did help a little bit was a bounce back and oil after the inventory report. Energy down the most on the day, more earlier, then a pullback into strength. For a long time we talked about oil and stocks correlation. That is not where it was three months ago. Is going one way, stocks are going one way, the correlation down. 9, so today positive despite oil. , a bigresting stock move move down intraday, a report came out from andrew left of citroen research. Chemours. There is some doubt and Short Interest might be building. Joe a remarkable turnaround there. Lets look at the greek twoyear yield. Here is a threeday chart. That was thisop, morning when we got the ecb decision. They did not grant the waiver for banks to get greater access to ecb capital. That
Im francine lacqua. Getting some figures. Of pay. The month the german Business Confidence at 107. 7. Inwill speak to the man charge of this report later on. That is better than economists expected. Ifo confidence is at 107. 7. The median estimate was 106. 8. The Current Conditions also a little bit better than expected. To show apecting ifo little bit of weakness, maybe a little uncertainty regarding growth, regarding deflation. Those figures coming in better than expected. Do notllar, these things tend to have that much of an impact but when we look at Uncertain Times and what mario draghi may or may not do, it may. 111. 44. Stay with the pulse. In half an hour we speak to the president of the ifo institute. Lets check the markets. This is a picture for worldwide markets. Global stocks rallying with some of these emergingmarket currencies. I want to show you yuan and the 10year greek bond. We have an agreement, not on debt relief, but the european governments will disperse some money