Im kriti gupta in london. Tensions in the middle east ratcheting higher after hundreds are killed in a gaza City Hospital blast. Hamas and israel trade blame. President joe biden is set to arrive in the region but will no longer meet with the leaders of jordan, egypt, and the Palestinian Authority after they all pull out a vase of it. A summit. Country garden on the brink of its first default and says it is unlikely to honor offshore payments on time which will feed into concerns over chinas Economic Outlook despite betterthanexpected data. The idea that markets see different crosscurrents and china at the core of it. You are seeing the chinese trade of low volume. A quick check on futures. Risk sentiment is decidedly lower against something that will be coming off the asia session. Your stoxx 50 futures down 0. 3 . Euro stocks 50 futures down 0. 3 . You are not necessarily saying a defensive bid. Nasdaq 100 futures down 0. 2 . Asia is setting the tone for this mornings grade. Trade. T
Stocks, erickson down 6 . The Network Equipment maker continues to suffer from the disappointing story turning out to be 5g. It is not delivering in the way a lot of people had anticipated. The nordic private equity stock down 7 . Talking about a slower fundraising environment, talking about the fact that they are thinking about novel ways to deliver on exits. Private auctions is one possibility. This is traditional exits the private equity market would normally use in the Public Market not working right now. We will talk more about this in a moment. Alix alix i am very surprised the s p is only down. 2 despite the fact that the 10 year yield is jumping higher 11 basis points and we get hot retail sales. It is not just that they missed estimates but they reaccelerated to the upside. The sox is not helping, this is the semiindex, on news the u. S. Could limit nvidia chips to china. We also has asml tomorrow. Something here does not make sense. We saw the same thing yesterday. I want to
Tom good morning. This is bloomberg daybreak europe, im Tom Mackenzie in london. Stocks in asia slide following a sluggish u. S. Session. The dollar rallies and the yen drops. Minneapolis fed president Neel Kashkari says rates will likely be on hold for an extended period. The Israeli Military edges further into rafah. Buys a biden pauses shipment of bombs to israel on fears the idf could deploy them in the densely populated city. Xi jinping welcomed with open arms in serbia. The chinese president looking to bolster support in eastern europe. From geopolitics to the earnings story and the lines from the brewer ab inbev with a beat in the First Quarter in terms of organic earnings, up 5. 4 percent, an increase versus the estimates of 2. 75 , so in terms of organic adjusted ebitda, a solid beat in the First Quarter for ab inbev, the brewer of budweiser and bud light. In terms of the margin story, also a beat in the First Quarter for ab inbev with adjusted margins coming in at 34. 3 perce
Firm darktrace in a deal worth 5. 3 billion and airbus slides after the plane maker posts a miss after ramping up production in a bid to extend its lead over boeing if you look at our order intake for q1, which was 170 units. Half of that from the a350. That momentum we see to continue good morning happy friday yesterday, i was telling you we have about 300 Companies Reporting across the european continent. Today, you might be thinking is it a quieter day not really we have 100 Companies Reporting, but investors are monitoring data from the United States as well as the meeting from the bank of japan. With that context in mind, i want to take you to the stoxx 600 and how it is trading at the moment we have the benchmark in europe trading higher by. 6 . The index closed down. 7 yesterday. I want to take you to the boards because we have seen an interesting picture when it comes to the ftse 100. Today, we have the benchmark here in the uk trading higher by almost. 5 the index has been tra
Its 30 minutes until the end of the session. We are lower right now after being up and down. Volume is lower today because of the thanks giving holiday even though there isnt a holiday here in europe. Its a spill over a spillover effect and these are the currencies against the dollar with the dollar drifting lower after eight dovish fed meeting. After a dovish fed meeting. Silver, bonds, communities and cdss. Shortgs just felt fell of estimates. In the cognac business. The french spirit makers cognac sales have been improving in china after a fiveyear government crackdown on extravagant spending. The company has been expanding its ultra premium versions is prices run as high as 80,000 louissix liter bottle of roma xiii cognac. There is a 15 jump in annual profit by germanys largest steelmaker, forecasting higher earnings this fiscal year. Steel producers have been bouyed as china cuts plants to curb pollution and exports. Demand remains a strong and prices are rallying and the key stee