As the British Asset manager posts 16 billion pounds worth of outflows in the first half despite some strong market gains. And china sets its yuan fix at a slightly weaker than expected level, the trump team plays down fears of a drawnout trade war. The nato secretarygeneral tells cnbc the tension goes beyond trade. We need to assess security consequences for all of us of the rising military power of china and also see that china is coming closer to us in europe, in africa. A very warm welcome to street signs. As you can see, a fragile calm taking hold of markets today in europe this follows a mixed session in asia and a rebound on wall street the stoxx 600 trading about 0. 7 higher the calm really has come on the dak back of stabilization in the yuan the pboc fixed the Reference Point for the yuan slightly weaker than expected, but overall no more escalation in the u. S. china trade tensions and currency tensions. We have plenty of corporate earnings coming through today in europe let
Good morning, good afternoon, good evening and welcome from wherever in the world you may be watching. Im Brian Sullivan thanks for joining us. Youre coming off a 767point drop for the dow yesterday that was the biggest drp of the yea year at one point the markets were down nearly 1,000 points we came back a bit futures are slightly higher. At one point down 950. The currency manipulator tag that trump threw on china last night could rattle the markets again. China making a move this morning to firm up its falling dollar setting a peg to keep it from dropping more. Which has futures bouncing back a bit. We are up right now 73 points. S p and nasdaq, i get it, cold comfort. We lost 760, were up 66 still we are in the green, at least at this hour were not seeing a sell followthrough in the markets. Heres what were coming off of yesterday. Every dow stock fell the average decline of a dow stock, 2. 7 . 12 of the dow 30 fell more than 3 the dow is now 6 off its july highs. The thing drivin
Talks and rising inflation are two thorny issues. Have a look at where european equities are trading, under 30 minutes until the end of the session. Greece is up 1. 5 . Italy is lower, 1. 3 lower. Ost markets trading down we are awaiting the outcome of the fomc meeting in three hours. Fx sovereign bonds, commodities, and cbs are your final columns. One of the movers of the day, shares up 2 , the biggest clothing retail stegner signaling growth is slowing this the owner ascating having a good start to the Christmas Holiday season. Revenue advancing 13 to the start of the fourth quarter, excluding currency shifts. Third quarter earnings in line with expectations. Lets talk about italy. The ftse still looking cheap compared with european peers. The benchmark is poised to close as europes best performing major market, on call for its best annual performance since 2009 when it rose 19 . Analysts expect the trend to continue next year. A general election and possibility of political gridlock
Back to 1982. Refineries were at 91 capacity, up 1. 5 points from a week earlier. U. S. Refineries typically increase production ahead of the summer driving season. The department of Homeland Security will continue searching mobile phones of travelers into the u. S. As lawmakers questioned whether the policy is unlawful and intrusive. Secretary kelly told the Senate Committee that the searches help keep terrorists out of the country and affect only a fraction of the people flying to the u. S. Every day. President trump has reiterated his discussed at the gas attack in syria missing the perpetrators have crossed a line. Dozens of people were killed in tuesdays attack in the idlib province, and the president has said using chemical weapons will have consequences and said the Obama Administration had failed and he now carries the responsibility proudly. It crossed a lot of lines for me. ,hen you kill innocent children innocent babies, babies, little babies, with a chemical gas that is so
,uccessive weeks of gains leading to very little Risk Appetite. Have a look at u. S. Futures. That is playing out across u. S. Futures. It is also playing across currencies. Dollaryen, down about. 25 . China, the market is usually dancing to its own beat, and that is what we are getting at the moment. We are up for a seventh straight day. Well above 3000 for the shanghai composite, on midspeculation that this lack of margin debt will lead to another explosive rally. The fuel thats fired chinas market boom and bust. Policymakers are reviving support for margin trading. The state backed agency that provides funding to brokerages is offering shorterdated loans and cheaper prices. Essentially what we have seen at its margin debt is lowest level since the end of 2014 in china, and we know the shanghai composite tracks the margin trading we have seen across china. Was tryingacked fund to get this rout off the ground. It has offered shorter loans and lower interest rates. We are seeing these