A lowerures point to open on lockdown news. Fears rise of a prolonged economic slowdown. And u. S. Equity futures trade higher. 24 hours to go. The president ial campaign enters a final stretch as donald trump and joe biden focused on the key swing states of pennsylvania. Biden leads his rival in a series of weekend holes. It is 6 00 a. M. In london and dublin. Ryanair. Good morning. We have an expectation for more losses. First half losses, record losses in the second half relative to the first half. Theres a couple of lines that are critically important. 1. 18 billion. There is no fullyear guidance going into 2021. As Michael Oleary and the rest are facing new lockdowns and the u. K. In terms of no leisure travel, it must be essential travel. This is the message from Boris Johnson. It could be extended. Ryanair expects record losses in the second half but theres one line here and we will put it to Michael Oleary himself. He joins us very shortly. Putting measures in place to owned. A
Down without demand. Ryanair says the risks are skewed to the downside as the ceo called the new lockdown political mismanagement on a grand scale. Welcome to the program this monday morning. Just under one hour to go until the start of the cash Equities Trading session and futures look like this. It will be moving to the downside. The u. S. Session on friday, particular tech stocks taking a hit. You might expect negativity coming through. Lets have a look at u. S. Futures, a slightly different trend for us this morning. No trend, in fact. Fairly flat. Theaw a definitive move to downside on friday. There are a number of themes in play as we go into this, not least of which the u. S. Election and the fed. The chinese data we had out overnight, interesting of course for markets but really from a european perspective, we are focused on what is going on with the left story across europe and we will be thinking a lot about that and talking to our guests a lot about that as we go through the
500 futures up about one third of 1 . Ftse futures higher by 2 10 of 1 . Unbelievable to see a zillion euro in the mix a resilient euro in the mix. The story is the equity market yesterday. The more cyclical sectors, bottom of the pile in the u. S. And europe, Energy Stocks having a tough time of it in 2020. Annmarie they have. Both sides of the atlantic, energy getting pummeled. That brings us to bp results. The first of the oil majors to report earnings kicking off the week. Adjusted net at 86 million. The estimate was for a loss of 116. 8 million so that is something that will boost bp. Is expected to fall in the fourth quarter. So far, it is not looking too bad. Analysts were expecting a loss because right now, the refiners are having trouble turning a profit because demand is so low. When you turn that crude into things like gasoline, the demand is not there. The volatility buying all the oil and selling it at a higher price, that saves a lot of these majors in the last quarter an
Narrow their differences. Forecasters dont see a deal before the november 3 election. Well be speaking to the speaker of the house today. Ireland imposes some of the most draconian restrictions in europe. In the United States cases are soaring in battleground states. We are just two weeks ahead of the election. Very warm welcome to you. We just had numbers out from u. B. S. About 15 minutes ago. Manus cranny is interviewing ergio armanti. Manus will be back me with a preview. The interview will be airing on Bloomberg Television at 7 00 a. M. London time, 8 00 a. M. If youre across the continent. U. B. S. Income beat estimates. Were underway with the earnings season. U. B. S. Kicking off with the major banks. I want to show you the close yesterday in the Banking Sector in europe. They close up more than 6. We is that you read of course into u. B. S. The stoxx 600 bank closed spoup 9 . A strong start in europe for the financials. Lets take a look at what were pricing in this morning when
Been working hard on cost has been creating this leverage. It the perfect storm of volatility that helped you in the Third Quarter . Sergio it has been coming down to a more normalized level that may be sought before 2018 and 2019. I think it is a combination is a more stable market environment, but the effect of all the new initiatives that we could set for growing, and which are starting to pay off. Manus youve got a strong message in the dividend. There has been an accrual of cash and buy back. When can we realistically expect the regulator to let you and ubs pay those dividends in 2021 . Sergio what it seems for investors is, basically, our message that we are very determined and committed in implementing our capital return policy. We are flashing our intentions to have a good solid Cash Dividend, but also complemented with share buybacks, and the fact that we are highlighting what we have done so far this year by creating this 1. 5 billion reserve is a testament to our commitments