Fishing license. Welcome to bloomberg surveillance. Im Francine Lacqua in london. It is the last trading day in november. Certainly a lot of traders will be feeling the same, but stocks are dropping after this recordbreaking rally. A bit of a pullback on the last day of the month, capping this recordbreaking rally. Oil sliding after ministers failed to reach an agreement on supply. Small caps, energy and companies, banks, that group has been leading the rally in november. Today, a bit of profit taking. A couple of other things im watching for is the price of oil. We talked about that, encouraging news on brexit, which is why we see sterling at 1. 3333. The portuguese 10 year yield come i like that because we are on zero watch, or negative watch for that yield. Word newsyour first with leighann gerrans. Opecplus has failed to agree on an allay to januarys height. Many members support keeping production at current levels but the United Arab Emirates and kazakhstan oppose the move unless
Record high after a global meltdown melt up on monday. Futures are pointing lower. The cash trade tray is less than an hour away. Hong kong on notice. Microsoft joins google, facebook, and twitter in pausing government user data requests. Tiktok also pulls out of hong kong. The risk rally pauses. Equity markets and futures trade grow aboutncerns rising coronavirus infections. Bloomberg learns that Deutsche Bank and google are planning a 10 Year Partnership on cloud and tech investment. Computing and tech investment. Just under an hour away from the start of cash equity trading across europe. Futures are down right now. We see losses on ftse futures of 0. 5 . About 0. 6 . Es, futuresxx you choose down about 0. 7 . Yesterday we got germany factory orders, missing the mark. Coming out at a 10 gain compared to a 15 estimate. Now we are getting german 7. 8 . Rial output rising that is the month over month figure. The estimate was for 11. 1 . Dataagain, german economic missing the estimate,
Yesterdays stock rally. European equity futures suggest another grizzly session. Reject ree to restrict travel to the region. Angela merkel is not rule out joint eu debt issuance. Welcome to the European Market open. Lets get straight into breaking news from the car sector. Car sales in europe are off to their worst start to the year since 2013. Registrations declined 7. 3 . The coronavirus is shutting down car plants worldwide. Earlier on, we heard from toyota. Daimler vw, and that is the way we are heading. Things are looking to get worse before they get better. Of february looked different than the end in terms of consumer purities priorities. Lets get a look at how the car sector opens in just under one hour. Under one hour to go until the sort of cash equity trading, here is what futures look like. 4 under pressure, down by or there about. Down,utures are also nasdaq futures down more than 4 . , we saw strong gains but now things are looking more difficult through the Asian Sessio
Ease concern over coronavirus. 1 10 year yield falls below for the first time in over 150 years. Uncoordinated action. Other g7 Central Banks are yet to follow suit, though expectations for the central bank of canada, japan, and korea and furtherrowing to fall. Scott meinhardt said u. S. Equities could slump another 15 but a surprise come back for joe biden on super tuesday cease turn positive. Speaking of the biden news, we are getting a breaking headline on the bloomberg terminal that joe biden has won the Texas Democratic president ial primary, state that was expected to show strong support for Bernie Sanders, has gone instead for joe biden according to the associated press. Of super tuesday for joe biden. A contender who had almost been counted out after the initial caucuses, coming back in a big way after getting endorsements from Amy Klobuchar and pete buttigieg. Matt, lets go from the United States politics to Money Management in the u. K. Breaking news on the uks largest manage
Bloomberg. We are targeting parts of the business where we are not generating acceptable returns. Matt apple falls short. The iphone maker expects to miss its quarterly revenue goal because of the coronavirus. And bhp warns of a hit to Raw Materials demand and prices the virus fallout extends. We actually have glencore across the terminal here saying it is going to take a 2. 8 billion impairment charge. It sees the scope of three emissions falling by 30 over 15 years. Bit, 2. 4arketing a billion. Recommended 2020 base distribution of . 20 a share. That will be the dividend news. Carbon emissions falling, coal mines deplete. Glencore says it is watching coronavirus developments. The bottom line in terms of earnings before interest and taxes was 4. 15 billion the estimate was for 4. 07 billion. Doing a little better in terms of adjusted earnings before interest and taxes. We are also getting eu car sales. European car sales dropping 7. 4 in january as new taxes hit demand that is already