Peak fatality rates could come in the next two weeks. Haidi brent crude is at its lowest price in trading since late 2002. The australian markets have just opened. Lets get straight to Sophie Kamaruddin. Sophie shares opening lower in sydney. We are seeing and struggling australian in vectors australian economy goes into hibernation. It should strengthen gdp 10 this quarter. As for new zealand, 14 quarterly contraction in the Second Quarter before rebounding as officials wrap up. Buying Corporate Bonds from tuesday. Off more than 2 . Nikkei futures in chicago under pressure. Analysts believe the economy is already in recession. Japanese Prime Minister shinzo to fund the biggest ever stimulus package. Futures sinking more than 2 . Worries about Economic Growth and dwindling demand also playing out in the oil market. Wti testing 20. Flipping back, President Trump is still speaking at the white house, where earlier he said he would extend the guidelines for americans to distance themselve
A surprise appointment at the head of ubs. The ceo of ing to take over from Sergio Ermotti. He is known for the Digital Transformation at ing and a eran of the dutch banking banking a comparison to whats been happening here, hamers is a relative outsider to the rarefied world of swiss management. He has climbed the ranks. He was the head of the dutch and belgium banking units. He has been ceo since 2013. What he is known for is leading the Digital Banking push in an effort to win customers and he is also known for cost cutting, and thats what he has been doing, bringing ing back to profitability by reducing costs. Sergio ermotti recently cut the banks financial targets for the second time in as many years. We were reporting that the search for a successor was starting on friday. That news came through. The International Wealth management cohead was widely seen as an eventual contender for the top rule. His run in with his former boss, Tidjane Thiam, apparently dimmed his standings with
Increasing pessimism about growth. More ceos than ever see a slowdown. Sophie chinas mystery virus is spreading through persontoperson contact. Hubs stepping up passenger screening. Lets turn to selina wang in beijing with australian markets coming online. Selina we did see australian markets red hot. We are now starting to see them drift slightly lower, marginally except for the new zealand up. 2 after gaining 3 since the start of this year. We did yesterday see the equities hit record highs when it comes index price and private equity valuations. So, that would be enough to ring bells in normal times but our strategists say that macro backdrop in australia is dire enough to call this rally into question when you consider the massive wildfires that are damaging their economy. With increasing focused on environmentally sustainable investing, that rally is potentially at risk. I want to check on that a little bit more with this next chart. Thelook at that rally in context of the u. S. C
The road to hold. Fatah minutes is suggested the central bank will keep rates suggestd fed minutes the central bank will keep rates unchanged. Ubs names its new boss. The worlds biggest wealth manager pouches ings ralph hamers to succeed Sergio Ermotti as ceo. Just under an hour away from the start of cash equity trading in europe. I want to take a quick look first off that ap mollermaersk coming out with earnings this morning. We are looking at a shipping company that posted earnings a little bit ahead of schedule. Let me just pull up the ticker here. Inmollermaersk in denmark, copenhagen of course, right now putting at earnings out earnings. Tda at about 5. 5 million. 5. 5 billion. Ap mollermaersk missing with da. Forecast for 2020 ebit we see the previous years earnings. Previous year and a on the forecast as well. We are getting a lot more here across the wire. Anglo american coming out with earnings. That may go ahead and pull those up as well. Angloamerican fullyear adjusted eps,
Doesnt mean he wont go through with it over the next couple weeks. Taking a look at where the nikkei is, ending the year lower by 0. 5 . The nikkei recovered 50 of its slide since its record in 2009. Goldman among those expecting some kind of lift for japanese stocks in the coming year. Fromys japan will benefit a Global Economic recovery. Lets turn the page and look at where we are in terms of currencies. We know it has been a quiet volatility at a five year low. If history is any guide, the , it ishe currency to buy a favorable month and it has risen seven out of the last 10 years. The hong kong dollar, it may be six months of the protest, the hong kong dollar said to have its strongest month in 16 years. This is how it is looking at this point. David since 2000 three, that was the last time we saw a gain of this magnitude for the hong kong currency. We are looking ahead to the open in india, it was quite a steep gain we had friday although i should point out, depending on which inde