Welcome to bloomberg surveillance. I am Francine Lacqua in london. We are also getting a cut of an Oil Demand Forecast amid the darkening of the travel situation. If we go straight to the markets and have a look at those, the story really is with these stocks, so yesterday, the stocks had quite a big move, and we are trying to figure out exactly what that means for the earnings forecast for the future. What else i am looking at is crude oil, as you see, 42. 56, after the iaea report, and the litmus test, in terms of risk appetite, gold at 1930. Are signs of faltering after stimulus talks in washington remain at deadlock. Now, lets get straight to the bloomberg first word news. Reporter hi, francine. A warning that a failure to control the pandemic is undermining the economic recovery. The boston fed president says americas over eagerness to reopen has backfired. He is concerned many temporary layoffs may become permanent job losses. Rosengren my thought is some kind of stimulus is goin
, with Karina Mitchell. Karina joe biden and Kamala Harris gave made their first appearance as democratic running mates, criticizing President Trump for his failure to respond to the coronavirus pandemic. It could be one of the few times they campaign together. Pandemic have pandemic restrictions have limited his in person events. President trump can make his nomination acceptance speech from the white house or executive residence, according to an advisory opinion. Generally, Government Employees engaging inrom political activity while in a government building. Airbus, the Trump Administration is imposing extra tariffs on some goods from germany and france. At the same time, some products from the u. K. And breeze and greece are taken off the tariff list. Extra tariffs are being allowed because of the airbus dispute. In the u. K. , Boris Johnsons Government Faces a coronavirus pandemic. If it withdraws massive support for jobs and wages too soon, it could tip the u. K. Into an unemploy
Founder, joining us live. Having a look at european Equities Trading right now, we are 30 minutes away from the friday session. Look at that, look at the stocks rising. Down for the week, all these equity bosses, are up today. Currencies are lower, bond yields gaining, commodities and cbss arid final two columns. 30 weeks ago yesterday was black monday. The day after was a record decline. Yes on black monday, the ftse fell. A record 12. 2 , the two day drop equated to 138 billion. The cap at the end of the day was 497 billion. Today it is 2. 0 8 trillion pounds. If i said dollars a few seconds ago. Ftse act then in 1987, the has jumped. The dax in comparison up by 900 . What a rise for the stoxx 600, 377 . This is the function, probability, listen to the probability of a rate hike in november. Were 77 percent, a month ago 65. 5 , two months ago, the probability was 4. 7 . The does Deputy Governor says i slowing he is clear gradual process of raising rates would be warranted if the bank
The shanghai up by half a percentage point in europe in some of the early trading right now we are seeing things a little bit mixed across the board. Ftses hanging in there up by. 10 of a percent. They are seeing pull backs by the dax down and the cac off by 1 3 of a percentage oint. Crude oil prices on a climb again last week where oil was up by just over 1. 10 this morning wti back 1 cent i take that back, its unchanged at 56. 74 lets tell you whats going on couple stories were watching this morning couple big ones. General electric is going to announce a major restructuring is going to happen today ge will focus on three or four units, aviation, power, health care ge is planning to shed its majority stake in oil and gas operator baker hughes. Remember that big bet that shedding . Shedding. Shedding. Like skin. John flannery expected to announce the changes at a meeting. Theyre getting out of it he got into it, now hes getting out of it. You build it up and you take it down were goin
Legal firm. Oil, every debbie National Company posted its first profit since 2016. We asked how they did it. Are very happy with the result after two years of a Transformation Program that we gained the benefits of 3. 6 billion. We have seen the result in the First Quarter. We are very happy with the result. The business is much more lean and focused. We should get the benefit of that going into the future. We also had discussion of potential asset sales. Is that still on the table now that you have returned to profit . Definitely not, we are very happy with our assets as a longterm holder. S a lot of benefits and assets and holding assets. There is a lot of potential in terms of spending and getting more cash flow out of the business. We are very happy with the assets as they are. What about Capital Expenditure . You have returned to profitability would change you have extra money to spend. Upthis year, we are wrapping cafex. The board has approved that in the last meeting. We should