Risk assets take a beating. U. S. Stock features plummet limit dad down amid a selloff. Europe points to more losses and Oil Nosedives below 30 in new york as an opec plus breakdown see saudi arabia prices saudi arabia slash prices. The entire Treasury Curve sits below 1 for the first time in history. The yen surges the highest level in three years and gold briefly tops 1700 an ounce. Billion in counting. That is how much governments have pledged to pump into the Global Economy to combat the coronavirus. But is it enough, the current market verdict is absolutely not. Awaye just under an hour from the start of cash equity trading in europe and u. K. Lets take a look at futures. A sea of red everywhere you look for risk assets. Seene personally never futures this low. Of course i was not here for the financial crisis, but we have more than 6 drop across the board. Features down seven and a quarter percent. Drops inmassive futures. Said,o see futures, as i limit down in the u. S. They bum
First half. Is ticking asck london and brussels plan new talks. They can still block a new deal divorce. Kathleen breaking news on south korea Industrial Production. I was talking about whether or not the bank of korea might cut their key rate and a couple of hours. The pricing jump, up 2. 6 . Up more than forecast at 0. 5 . That is what was expected. In terms of the monthly number, lets move on to the yearoveryear number. Up 0. 6 . A big improvement over 2. 9 . That has been revised a little bit higher, 2. 6. Very good news for south korean Industrial Production, closely linked to manufacturing, closely linked to the trade war. We will get more details on that and get more on that later. Beijing for ato look at the asian markets. There has been a lot of volatility this month but it looks like on the last day, we are seeing cautious optimism. More green across the board. For the nikkei. Positive numbers out of korea so that will help bolster when the markets open, up almost 1 . 5 thise
Straight tos get stories, these arrests in saudi arabia. What we have his shocking news out of the kingdom. Chart 9472,off with stories not situation normal. Profilest of high individuals. Of. 3 . Gain the chart showing the situation allnything but normal below coverages. Kingdom holdings is the company who wasg to the prince taken into custody. He is the worlds 50th richest man. That stock was down as much as 8 . People looking very closely at the situation there. We will continue looking closely and the implications or investors as we look ahead to this aramco listing. One of our analysts that we spoke to pointing out the domestic perception of what this is is different to the international reactions. We will big deeper into that story. The markets are waking up to a brandnew week. Some pentup demand having been away on friday. Sophie after that three day weekend, japanese stocks mixed to start for the region after u. S. Stocks capped the longest streak of gains since 2013. Earnings
Can extend the agreement if necessary, we can increase the amounts that need to be reduced, or on the contrary, we can move to reduce them, but everything will depend on the ongoing situation. The white house defends donald trump jr. s meeting with a russian lawyer last year as a new report suggests he knew the person offering compromising information on Hillary Clinton had russian government ties. And open for business we speak to a number of frances top executives at the europlus conference as the chairman tells us brexit will be a boom for paris. We have now plenty of the elements in order to convince the uk to reach institutions which want to come back on the continent to paris well, its a mixed bag for the european open just an hour after trading starts, resulting overall in the stoxx europe 600 being down by around onefifth so far today lets have a look at how the individual european boards are opening up this morning, and we can see here that its actually well, the cac is pretty
Group, 275 bi 275 bilper share. The Italian Government is reportedly ready to inject 15 billion euros into monte dei paschi giving the shares a a boost, after the ailing lender reopens its debt swap offer to investors. Lufthansa agrees to mediated talks with the german pilots union, telling investors its confident it can find a solution to the longrunning pay dispute dating back to 2012. Goldman sachs raises its Oil Price Outlook for the Second Quarter of 2017, but warns Dollar Strength could limit the nearterm upside for oil prices. With markets i up and trading this morning, its a mixed bag. We are struggling for escape velocity in either direction. Pretty much flat line on the stoxx 600. The individual indices are really not showing a great deal of conviction at this stage. The cac is flat. The ftse flat. The ftse mib in italy doing a little better, i guess, than the average here. Even so, thats a modest gain as far as europe is concerned. I suspect just a bit of pause for thought a