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Im on Francine Lacqua. Weve had quite interesting and big political news in the u. S. That started late last night, overnight and first we know that transition is more on its way than was 24 hours ago. Global stocks advancing on the back of that. If you look at what stock markets are taking a positive, the general source of administration acknowledged joe biden was the apparent winner of the election and the move reduced Political Uncertainty in the u. S. , giving biden access to Current Agency officials, briefing books, 6 million in funding and the market. Energy stocks leading the stoxx 600. Travel companies. Banks also notching gains. Haven assets weaker. We are getting some eco figures. Looking forward to speaking to the president of the Ifo Institute sho ....
Shortly. Onhave got hopes of progress a vaccine and signals that they are making progress in terms of the u. S. China trade tensions. Both of those really firmly supporting the risk rally that we are seeing. Let me show you the state of play with the stoxx story. The back ofming off record highs in u. S. Stocks. The good times might not last, according to morgan stanley. They are saying the market is vulnerable to shocks, especially rising rates. Treasuries are on the back foot as we speak. We are looking at a weaker greenback. 830. Dollar at 1. 1 yeah,ps a little bit of a strange one given the wider risk appetite. The folks at pimco saying the gold rally is it played out yet is not played out yet. They believe gold remains attractively valued, especially in the context of low Interest Rates. Here are some of the stories we are watching. Both of the u. S. And china are seeing progress under their phase one trade deal. They are com ....
Testing. The dax is the worst performer in europe after germany suffers an outbreak at a slaughter house and forced to put two districts back on lockdown Strong Demand for tablets and notebooks. This drives the demand for notebooks, chrome books, head phones for more professional use from home and even printers. That trend we see to continue. Wire card shares gain after former ceo is released on bail and germanys financial regulator widen the probe on the firm good morning thanks for joining us. I want to take you first up to the data just revealing that german business morale has risen in the month of june. The Climate Index in june is at 86 86. 2 versus 85 so outperforming expectations. We were at 74. 2 in april 75. 9 in may. We were still below the 80 today, we have soared above it to this 82. 2 level the efo Current Co ....
At the same time, it is authorizing sanctions against chinese officials. We will be live with reaction from the forbidden city. European futures prove their resilience after a more mixed session in asia. Angela merkel says it may take time to iron out the details of eus mammoth stimulus package. And lufthansa sets up a showdown with the eu by holding off on a vote for its 9 billioneuro german rescue plan. Cites requirements over landing slots at key hubs. Just under an hour from the start of cash equity trading. Lets look at futures. Instituteat the ifo expects german gdp to shrink 6. 6 in 2020 and then expand 10. 2 in the year after. That is a pretty decent sized contraction, and yet futures are Still Holding higher. Futures up 1. 3 on the dax. It has been a Pretty Amazing week for the dax index. We kicked off up 304 points in change and were up more than 100 tuesday and 150 ....