Lets have a look at where european equities are straight ours trading right now. European stocks dropping for the first day in five. You can see broadbased losses 1. 4 ,germany down eurozone stocks down more than 1 , spain lower as well. If we look at the epic space we fx dollar weakness space we see dollar weakness as well. After that Health Care Reform bill, the dollar at an 11 months low. The euro gaining against it. 1. 15 against it. Sterling weakness coming through after the u. K. Inflation data unexpectedly softened off 3 10 of 1 . In the fixed income space, yields coming down both in the core and the periphery. We are seeing gold bid along with the yen for todays session. Crude is at 48 a barrel. Digging into equities, it is what happening with different Industry Groups. Tech stocks leading in the losses. A lot of that down to ericsson. Perhaps some of that feedthrough, with what we are seeing in u. S. Financials. Materials also lower. Commodity losses leading the gains yesterda
And seeing double. Luxottica agrees to emerge with the french rival. But how will investors view the deal . Were less than half an hour away from the european open, and it looks like investors are looking at equities in a negative way, with positive futures over in great britain. You can see futures down about. 5 , ftse futures up about. 25 . We saw the asian market overnight take a real tumble, then recover by the end of trading, to some extent. Not to gains, but not the kind midsession. Saw guy lets talk about whats happening with the pound. You talked about the overnight. The british pound down 1. 5 , treating just, just north of the 1. 20 line. Were clearly watching what theresa may will say on tuesday. We are still trying to figure out what will come through. It does seem as if there is the managing of expectations going on here, issues with donald trump, signaling that the u. K. Will be at the front of the queue. It doesnt seem to be helping out sterling. Its the easiest and most
Poor timing. Shares in swatch ticking lower after a fullyear net profit loss. But the companys ceo tells cnbc he sees a return to growth in 2017. Shares of novo nordisk slide after the danish drugmaker lowers its profit and Sales Outlook for 2017. Good morning, everybody. Welcome. Glad youre with us. We have another very busy day already underway with loads of earnings, lots of talking points. European equity markets this morning slightly mixed. We opened on a lower note across europe. Right now looking at some markets point together upside. The likes of the ftse 100, the ftse mib also seeing slight gains. The xetra dax and cac 40 lower. Deutsche bank being one of the main fallers out of germany, off by almost 7 , 6. 5 . When it comes to the sectors and where were seeing selling, healthcare off by 1 . Telecoms down 1 . Auto is off the most this morning. Financial services and banks also off by a half per st. Technology pulling up, travel and leisure hanging on to brightness. Lets talk
Manus and im manus cranny. The pound is in pain. This is what you are looking at, a 31 yearback at low. This just gives you some of the posttraumatic stress in the market. There is no end in sight for the pound, on the downside. Go to bloomberg first word and find out, where are the levels . Mind the gap. 1. 30, we have broken through. A 1985 low. I am not making that call, that is the statisticians call. Median for the end of the year is 1. 30, that is from the bloomberg survey. Anna clearly, mark carney, and others in the market, have become about concerned about commercial real estate in the u. K. Lets start off with the risk radar. Remember, a number of markets in asia are closed because of ramadan. The asianpacific is down by 1. 7 . Yield,year japanese bond 0. 01. That went negative for the First Time Ever in todays trading. 1368, that is where we are on the price of gold there, up by. 9 . High and weo year are near a sixyear high in open interests on the gold exchange. Chinese da
Surveillance, francine the clot in london, tom keene in new york. Francine lacqua in london, tom keene in new york. Tom what a movable feast this morning. Tick by tic as we went into this opening, francine and i were going backandforth over the dynamics, and i have to say this, we do note we do not know why Deutsche Bank is south but it is south. Francine i think there are concerns that the brexit shows investors are very nervous and it goes into the weak spots so i think we will see many more spots like this. There may be something more underlying. Lets get straight to the bloomberg first word news. Nejra the field is down to three and the race to become the next british Prime Minister. Theresa may took the lead in the battle to succeed david cameron, winning 165 votes in the first round. She was followed by Andrea Leadsom and michael gove. Stephen crabb has dropped out and liam fox desk liam fox was eliminated. The next vote is tomorrow. Report is likely to revive recriminations over