Credit suisse posts 75 increase Standard Charter ceo tell cnbc the pandemic could still negatively impact the sector despite the early resilience the shock we are experiencing in the first place is as severe. As this pandemic unfolds and we wont know exactly or generally how this will progress, we have to suspect that impact is very, very material. The pope extends a prayer for european unity but divisions are expected to still dominate eu leaders go on line in a Video Conference meant to talk about further assistance to fight the pandemic a crude comeback buyers rush back sending u. S. Oil prices up almost 40 in overnight trade. Surprising tensions between u. S. And iran also supporting the price. Welcome to street signs. Lets kick off the hour with fresh eurozone pmi numbers we have heard of the french and german numbers now for the eurozone as a whole. The april composite pmi flash number has come in at 13. 5 that is much worse than the market was expecting we were looking for a num
More positive. Barclays misses First Quarter estimate with 2. 1 million in credit impairments investors navigate unprecedented conditions caller what they are doing at the fed in terms of her majestys and the banks. Well watch two tsunamis hit at the same time. Investment banking provides a boost. Telling cnbc credit losses are manageable despite more pain to come this year will be more difficult than any of us anticipated. We are doing anything we can in anticipation of our risks and costs to preserve the capital that we can. Airbus blaming limited visibilityas 60 aircraft could not be delivered due to the outbreak not as bad as advertised shares of alphabet rally after the Google Parent Company said the slow down is easing, beating more pessimistic forecasts a very warm welcome to street signs this morning. Lets get a check on the european markets trading in the green. It has been a choppy session we saw the stoxx 600 slip below the flat line now. The ftse 100 up about 1 we have the
And p 500, however mark said asset prices havent seen the worst of it yet. In a slump in hong kong after scrapping dividends amid pmi data for asia showing contraction across the region. Welcome to bloomberg daybreak europe. A trifecta of investors saying the worst is yet to come. U. S. And european futures also declining after the worst quarter for Global Equity since the financial crisis. The 10year gilts slipping, seeing a little bit of dollar strength. We saw that lifeline from the fed to help ease some of the liquidity strains. Oil fluctuating a little bit with talks about this discussions with saudi arabia and russia. Manus can you imagine what a deal with them might looks might look like. This talk about donald trump, his call for a 2 trillion Infrastructure Spending bill, saying that low rates would make it easy to finance. It is unclear whether his proposal would be part of another package being considered by congress and the white house. Bloomberg sources also say it would de
Beijing says mainland infection rates are falling rapidly. The virus continues to wreak economic havoc. Data shows acrosstheboard slumping china for the first time on record. Shery lets take a quick check of the markets closed in the friday session and how u. S. Futures are reacting to that emergency rate cut. We are seeing u. S. Futures accelerating losses at the open, down more than 4 despite the fact we saw another emergency rate cut by the Federal Reserve and President Trump expection x resting satisfaction expressing satisfaction. This comes on the cut friday and we saw the s p 500 seeing its best day since 2008. We have every sector of the s p 500 index in the green, rising at least 4 following the worst session since 1987. We did have the president also coming out with many measures to support the economy including a declaration of National Emergency and moving to prop up energy prices. A moratorium of federal student loan interest. Not to mention the private sector jumped into
Crisis. The Prime Minister is underestimating the threat. He meets with the french president today. Manus a warm welcome to daybreak europe. This thursday morning. A warning from Standard Charter, its going to be a tough year to make 10 return on equity. For your profit for 2019, 4 . 2 billion. The market penciled in for . 3 billion. But we are giving you Share Buybacks, half billion dollar inner share about that. Hsbc didnt give you a Share Buyback, but we will do a buyback and come back and review that once weve completed the the year. In so it is a delay to the return on equity. 2020 will be below the midterm target. What is it mean for structural review . Those are the headlines, a buyback, a warning, and amiss. A trifecta of news to digest. Cfo is inrd charter the green room. Dont miss the conversation. Nejra, good morning. Nejra ive got abs numbers hitting the tape right now. Fourth quarter granik revenue up 2. 5 . The estimate was 2. 6 . Fourth quarter adjusted ebitda down 5. 5