Welcome to bloomberg daybreak our flagship morning show in london. Matt miller back in the german capital. Great to see a map. Lets get some breaking news on ubs. Surprised investors with the drop in financial strength. The capital rates rising to 13. 7 in the month through september. Net income rising 14 . That could come in below estimates. Wealth management is the banks core business, contribute 500 million francs, that is up. A little more appetite for risk. We will also hear from the ceo of ubs. Matt we have a couple of headlines. Are goingnd clarion to abandon their merger. These headlines are just crossing the bloomberg terminal. It is going to avoid paying, so it will save 300 million. Huntsman and clarion mutually come to this decision. Speaking of deals, we have a headline crossing the Bloomberg Lafargeholcim and talks. Theyre going to reset their 2017 and 2018 outlooks after thirdQuarter Sales came in at 6. 9 billion ahead of estimates. Generally in line with estimates as fa
Amazon, microsoft, and alphabet are still to come. We will break down the key numbers to look out for and we have an interview with the ups cfo. Mark lets have a look at where european equities are trading right now. 30 minutes until the end of the session. Stocks falling for the first day in seven, highest close since august 2015. Today is all about the ecb. And actually rose during the ecb meeting. They kept policy unchanged, rates at present or lower levels. Qe can be increased in size and duration. The big comment was Downside Risks have diminished. That pushed the euro higher. However, underlying inflation pressures remain. Risk still tilted to the downside. They did discuss whether to. Hange the assessment of growth ecb economists suggest that will happen with forward guidance. The euro lower, sovereign bond yields falling today. Commodities and cds. Deutsche bank shares lower today. In the u. S. ,s rising 11 versus 24 for the big five in the u. S. Revenue dealing from stocks, wh
Anything in protectionism. Mark this is bloomberg surveillance. By mark barton in london. Seven days of gains, that was the run through yesterday for the stoxx 600. Best run since july 2015. Temporarily, maybe. The dollar down against the yen day, roughly 0. 4 lower. Traders seeking more clues for three rate increases by the fed before attempting to break past that 113 level. The u. S. 10year yield is down by a basis point today. That is an interesting level. Data today includes housing and initial jobless claims. Oil, upg off with crude about 0. 1 , hovering around 53 a barrel. U. S. Stockpiles yesterday rising for a sixth week. Adding to this global glut. Lets get the bloomberg first word news. Heres Sebastian Salek. Sebastian u. S. Intelligence agencies and the fbi are conducting investigations over Donald Trumps advisors and russia. That is according to four National Security officials. Several agencies are conducting inquiries over russias efforts to metal in the election. Trumps
This is bloomberg surveillance. Im mark barton in london. Thatme to have a sip of because we have an acceleration to the fastest pace this year, adding to evidence that growth is becoming more resilient. The pmi index, the composition index, rising to 53. 7 in october, from the 52. 6 in september. This is the fastest pace since the beginning of 2016. The recovery continuing at a steady if not spectacular pace in the face of headwinds from brexit, slowing trade, political uncertainty. Ecb supporting the economy with unprecedented stimulus that will come under review in december. Just want to show you whats happening to the markets today. The stoxx 600 trading higher. Last weekend it rose for the second consecutive week. Best run since september. Last weeks rise was the strongest in a month. Byres the euro stoxx 600 up 0. 75 . The euro is a little bit up now. Track force march, on the worst fourth weekly drop. It is all about divergence because the u. S. As many think is set to hike rate
The dow and the s p 500 are in positive territory. Lets go to the markets desk where julie hyman has the latest. Julie there was a report this morning talking to a bunch of strategists on tuesday. The brexitinduced selling could be over in the united states, which would be fascinating indeed. Still a lot to unfold commodities they come in the. K. We got the next of them pending home sales, down more than anticipated. Does not look like that will put a chink in the rally we are seeing today. Other kind of 3. 7 in may. We are watching housing stocks today. Overall we are still seeing a rally well intact today. As funny mention, the dow and the vonnie mentioned, the dow. Nd nasdaq and the green last thursday, the rally happened in anticipation of a emain vote in the u. K. Of course, that didnt happen and we have this decline. We are not back to the levels we during the close on thursday but pretty close to the levels on friday with the selloff in the wake of the vote. We are continuing to