Line. President trumps top advisors want to destabilize the peg in retaliation for chinas tightening grip on the city. Hsbc slumps after bloomberg learns it was singled out in the report. Continental drift. Futures point to a second day of losses in europe. The fed Officials Say their scope for more action and economic recovering, if it stalls in the u. S. , where virus cases approach 3 million. Soon ask spending plan. The u. K. Chancellor set to unveil his measures to reinvigorate the economy. Will it be enough to drag the u. K. Out of it steepest slump in three centuries . We are just under an hour away from the cash trade here on the continent. Lets take a look at futures right now. Decent sized drops. 9 10 of 1 on ftse futures right now. Dax futures down three quarters of 1 as well. We also see u. S. Futures falling. Only 2 10 of a percent. What does the gmm tell you . Anna lets have a look at the gmm. It tells us a mixed picture through the asian session. If we look at the is in s
British pound sterling. Lots of development in europe, including the 750 billion euro package, a combination of loans and grants. We will get to that in a moment. Essentially, that massive edge helping to narrow spreads, so the italygermany 10 year spread in seven basis points at 1. 91 . Matt the china story obviously a huge one that markets didnt look like they were pricing and until now. The european rescue package was a story that markets had priced in already. It was 500 billion last time arco spoke. Today it has grown a little bit, with another 250 billion euros attached to it or get still, 500 would be the number in grants. Overall, it doesnt look like that is doing much. In terms of the stoxx 600, it is down. The dax is up or than 100 points again. One of the big reasons is daimler. Renault is up 16 . Macron has unveiled a 5 billion euro loan guarantees to renault. No direct help to daimler, but theres going to be incentives in france to buy a new car, 7000 if it is electric, an
Tentative trade with autos extending decline as bmw warns the pandemic effect will last longer than anticipated. The german hospital operator flags increased demand for drugs and devices. Telling cnbc they are prepared for a second wave. We are working very closely with the authorities to make sure we have flexibility in termts of our ability to react should there be a second wave as the measures are released. A frozen dividend for disney. The media giant cancels a payout as it takes a 1. 4 billion hit from the paepd but makes plans to reopen in shanghai next week. The uk becomes the worst hit country in europe overtaking italy as the death toll crosses 32,000 the government grapples to get a time line for the exit from the lockdown a warm welcome to street signs. Lets kick off with fresh data this is on eurozone april pmi, the final numbers for services that figure for the whole is 12. Slightly better than the flash estimate of 11. 7 that makes the final composite pmi 13. 6, just a to
The strain of coronavirus. Has declared he will suspend immigration into the United States through an executive order the us president in this tweet said it was in response to the coronavirus pandemic he refers to it as the invisible enemy and added that he has to protect american jobs so well that was an announcement of 3 swift condemnation from some in the Democratic Party who accuse trump of distracting people from what they describe as his faulty response to the outbreak well start with this john hendren chicago. The president issued this tweet in the dark of night and he seemed to do that for good reason he could have made his announcement at his daily News Conference where he talks about the coronavirus and all of the actions the administration is taking but by issuing this mysterious tweet late on a monday night he gets the morning news cycles where the newspapers d in the morning shows talking about what hes had to say and then in the afternoon he gets another round where he ex
Here. I am saying patch patchy fog. It is clear right now for almost everybody. Another nice day is on tap for us here. If you thought it was warm yesterday, it was. Napa was 83. Concord was 83. Santa rosa, 582. Palo alto 81. Clear skies. You travis west southwest was due north. 49 yesterday at this time. They were 61. That is a big difference. That is going to Start Playing into a cooldown if it isnt later today, for sure tomorrow. Highs today, above average, and another nice day. So get out and enjoy it if you want to, if you can. Lets head over and see if there is anything going on. Probably not, but you never know. Good morning, sir. Good morning to you, steve. We do have traffic that is doing pretty well for the most part just as you mentioned. You can tale that the traffic is doing okay here as you drive on the san matteo bridge. It is nice and light heading out to the highrise with major issues. It is 4 02. Lets go back to dave. All right. Plans for reopening california is devel