the stoxx 600 is not. the reason is, you have swedish and swiss companies that are weighing down the bigger, broader index. nejra: after two weeks of gains, we are not seeing the stoxx 600 in green. edging into negative territory. we are seeing gains in commodity producers because of the rally in metals across the london metal exchange today. take a look at my emaar are -- at my mrr function for the bloomberg. anglo american up 2.9%. 2.3%.lliton up the rallying commodity producers is failing to lift the entire benchmark. seehe downside, you can this down more than -- you can down more than 20%. and novartis is weighing down health-care stocks after an announcement of an m&a deal. former french president nicolas sarkozy has been knocked out of the presidential race at the first hurdle. support for francois fillon saw him take up the vote. the longtime front runner had 28% according to election officials. they will face off in the runoff next sunday. caroline kanaan in paris, standing by with a guest. caroli

we are seeing the euro stoxx 50 down, germany's dax down as well. sterling has dipped below 124 today. down 5/10 of a percent on the pound. in fixed income markets it was a good 10 year yields the german 10 year yield down five basis points. we see yields move down in the core in france and germany if we look at the bond market. a lot of movement in commodities as well. i will get to oil in just a moment. we are seeing that rally in metals, too. look at italian banks. this one of the recent we are seeing the stoxx 600 fall over all because of the weight of what is happening with italian banks. the index is heading for its lowest level in more than three months. to abouting its drop 15%. as many as eight italian banks risk failing if they lose the referendum. we're gearing up for that spread between italian and german government bond yields as well whitening set for the highest may of 2014. the stoxx 600 overall is down about .9%. financials ofthat the worst performers. energy stocks are down 1.3% despite the rally we're seeing right now in oil price

it is the best performer on the stoxx 600. we spoke to ride her chief executive michael o'leary, saying however the u.k. is missing out on growth. michael: we said we would pivot the growth away from the u.k. we had planned to grow in the u.k., our capacity in 2017, by 12%. we have cut that by more than 50%. there are meaningful decisions. the u.k. is losing out on significant growth. is moving into germany, italy, and spain, where the costs are lower and we have political certainty. guy: michael o'leary, the boss of ryanair. let's bring back david kohl, head of currency research, number one forecaster, the guy to talk to as we work our way into this u.s. election and try to figure out what is happening with brexit. in my mind, i am watching two stories play out in similar fashion. in the u.k., checks and balances are starting to work. you are seeing what is happening with the high court ruling on whether or not parliament needs playinger article 50, out. it is a similar story in the united states, checks and balances. are the

stoxx 600 is down. the cac is unchanged. we are seeing a turnaround here because it is fascinating because we see mining stocks up even though we see the underlying commodities down. let us get more on our top stocks story with nejra cehic. 19% jump in third-quarter incomeunderlying the net number. the lender said it would cut and under 1005 hundred jobs as part of a cost reduction plan. 0 jobsost reduction -- 150 as part of a cost reduction plan. that 1.8%, i can tell you, over this year, the shares have gained about 5.5% and outperform the stoxx 600 index. it is one of the best performance on the stoxx 600 this morning. profit dropped in the third itster, but it did keep target to improve profitability this year. if we finally look at accardo, worst performer on the stocks. 5.5% right now. morrison started its avalon delivery service, concerned over competition for this online grocer. volatility has been tracking each other pretty closely over the summer, but post u.s. election, something of a divergence. studied as invest

we have seen banks rebound today and the stoxx 600 closed up slightly higher, up 3/10 of 1%. the ftse 100 down for tenths of 1%. let's see how fx markets are doing, a stronger sterling today. yendollar and the euro, the resuming its slide. let's check on the bond markets. if we had five and 10 year auctions today that went well -- this is bloomberg. ♪ ♪ nejra: there's vonnie: it is noon in new york. david: welcome to "bloomberg markets." ♪ david: covering stories from havana and washington and vienna. oil falling below $46 a barrel as opaque members have failed to bridge -- there views on production cuts. donald trump takes an obamacare opponent as secretary of the department of health and human services, what this means for health care in general. we speak to the ceo of 11 james, they think it is time consumers share timepieces willingly as they share rides and rooms. watching whattors is going on in vienna. >> earlier we had stock , perhaps even in anticipation of the uncertainty around the opec situation. that

that is the stoxx 600. the rotation is interesting. talking about exactly what has been happening desktop me through this. tell me what is going on here. >> this is a chart that looks at all the sectors in europe and ranks them by their momentum and lead lag behavior versus other sectors. the top right quadrant shows you the sectors that are leading the market today. you can clearly see the financials -- guy: they are appear. kokou: -- they are up here. quadrant. right the bottom left of the sectors that are lagging. these are the utilities, the defensive, the pharma, nestle. they are landing. this is -- they are lagging. this is looking inside the market and not at the market. guy: let's just see -- we are going to carry on playing here, just because it is monday morning, and why not? for today. this is the sector story. in terms of positive territory, you and i were looking around in the break. you get a similar picture if you utilities, food and beverage, real estate, all negative. utilities down by 4%. banksresources, insurance , 6

the stoxx 600 is up by 0.4%. london is a laggard. the dax is driving ahead. what is moving the market? caroline: the banks are still leading the charge. the insurers are outperforming. looking at the stoxx 600 -- leading the charge is r.b.i. -- is ubi. 32 million euros. not a big month number but more than expected. chryslerye on the fiat . 4.8%. donald trump seems to be helping the likes of fiat and gm. allianz up, the leader of the pack. 36% hike in profits. this as we see the belgian rival not offering a enough money they say. rejecting the approach from the belgian rival, not sufficiently compelling. let us get the bloomberg first news word. >> demonstrations against donald trump have a continued -- have continued across the u.s. >> we are all immigrants. hundreds of protesters gathered outside of trump tower on fifth avenue. they chanted angry slogans. rudy giuliani has called the protesters a bunch of spoiled crybabies. donald trump has told his british counterpart that he wants to rekindle the kind of relationship that margaret and ronald reagan shared

look at the euro stoxx 50, down american -- 1/5 of 1%. this is not the brexit-type event. what about the euro and the pesto? -- peso? is falling against all 150 currencies on the bloomberg today. we would look at the euro against the peso because it has peso, up byt the 8.5%, same as the dollar and i'd is the italy, germany 10 year spread, which was widened by the most in two years. the elections are not over. all the referendums, looking ahead to be a time referendum in one month time. it does not end today. vonnie: later, we will be hearing from hillary clinton at 10:30 eastern. she is expected to address her supporters at the helton. we will bring that to you live. 11:15, we expect house speaker paul ryan to speak. let's go to bloomberg's david gura, joined by former house majority leader, eric cantor. carol: t library -- david: thank you very much. trump when hed assumes the presidency, how does he translate that into policy? eric: i think it was telling what peter thiel said that somehow the press was taking everything donald trump said literally and not seriously. th

financials are leading the gain on the stoxx 600. it is those materials then, second in line, up .8%. financials are moving higher on those inflationary expectations, pushing bond yields higher. the 10 year guilt yield, we are up about three basis points. it is moving in the same direction as other bond yields in europe. 1.29% on that 10 year yield. i have the 10 year bund yields moving higher, as well as the rest of europe. the 10 year yield on the treasury is actually coming down slightly. yesterday we saw that really, a startling turnaround when we saw the 10 year yield surge mtghehe most since 2011. coming off a bit here today on the 10 year yield. perhaps, some investors see some opportunity with the 10 year yield moving above 2%. the bloomberg dollar index is tracking that 10 year yield as well. i am starting with pastor astrazeneca. it is off by a little bit today. i am also focusing on rio tinto, because we saw that and hbhp rie 2.7%.st since 2009, up siemens, reporting than higher-than-expected profit for the quarter. they h

stoxx 600 is down by .6 of a percent. all sectors were selling off but some bigger declines than others. particularly ones bought in the move october. the banking sector i referenced. we have risk off the globe currently on the back of election concerns as polls get closer. fed meeting today and all chances that it could flag up the december rate hike not to mention political risk around the italian referendum. the individual sectors remain a bit under pressure. down 1.3%. trimming some loss but down .9 of a percent. health care tracking a little bit firmer on trading session. you'll notice some of the more safe-havens in terms of sector seeing less of a sector. food aend beverage and health care. hugo boss on the back of its numbers seeing a spike of 6.9%. easyjet had some decent numbers. standard chartered under a little bit of pressure on the back of its numbers. wolters kluwer r-slim 2%. not enough to support the stock. and moller-maersk trying to recognize some of the parts. oil business which is no longer diversifie

all industry groups on the stoxx 600 are gaining today. once again, it it alternated between gains and losses. that is something it has done for eight consecutive days, the longest streak in two years. something significant is happening to the euro. it is falling for the ninth consecutive day against the dollar. it was up earlier, now down for the ninth consecutive day. that is the longest can losing streak -- that is the longest consecutive losing streak on record, the longest run in the wake of donald trump's election victory. stirling is the best performing major currency against the dollar since trop's win -- since ump's win last wednesday. cooler weather boosting spending. let's finish off with the bond market today. u.k. yields, the yields off the 10-year risen to the highest level since may. a slight decline in germany. the spread between the german 10-year and the u.s. 10-year is the widest since 1989. that is my favorite stat of the day. spain, yieldsin rising in italy today. let's go back to fed chair janet yellen's testimony. >>

you already talked about metals so i will move on and show you the stoxx 600. it has been swinging between gains and losses today. volume lowerng than the 13 day average. we're pretty much unchanged. set for the longest streak of since july. we bit of a mixed picture inside the space. space leading the gains of 1.5%. energyalth care, underperforming with a weaker oil price and material lower as well. down 3/10 of a percent. the stock leading the health is absolutelyher soaring on speculation of that takeover bid from johnson and johnson. and johnson has approached about a potential takeover, the $17 billion swiss drugmaker. they hit their highest level ever. >> millions of americans are postelection retail. the retail index has risen 5% since the outcome of the u.s. election. black friday ushers in the holiday shopping season. we are counting on deeper discounts to satisfy all that pent-up demand. joining us for the new york stock exchange is the chairman and ceo of target, brian cornell. have you had any sleep since you open the doors? guest: not a lot. we are

looking at the stoxx 600 up 0.2%. mixed markets in asia with a lot of shifting out of european -- out of emerging market assets and back into u.s. assets. we'll talk more about that given what we're seeing in this massive rally. europe slightly mixed. the ftse and and cac slightly lower. autos, utilities up. basic resources and technology off by 0.9%. nasdaq not hanging on to gains in yesterday's session with a lot of people now scratching their heads about whether or not the -- well, whether or not we'll see immigration held back, whether that will impact silicon valley, the close ties between silicon valley and the obama administration. what that will mean. >> it's also about the tax holiday, the repatriation of billions of dollars of cash coming back. that's weighing on the technology sector. a point, you made during the show yesterday, this rise in yields, at what point will it choke off the rally in equities. i think we're seeing some of that. if you look at the ten-year german bunt yield, that's at the highest l

session, lookthe at the stoxx 600 down by one quarter of 1%. we did see banks rising and utilities falling. bloomberg markets continues. ♪ vonnie: it is noon in new york. david: welcome to "bloomberg markets." from the bloomberg world headquarters in new york, from washington to johannesburg, here is what we are looking at. stocks pulled back. investors worry the postelection rally have may have gone too far, too fast. and larry summers shares his advice for donald trump. rallyinge shift from to governing. and helping the federal reserve by increasing debt and spending. there halfway through trading session. let's go to julie hyman. the dow did rally. it did touch an intraday record. at the s&p and nasdaq are languishing here. the nasdaq getting pulled down by technology which we will

health care a big gaining industry group along the stoxx 600. >> that is amazing. the dax is down by 1.9%. and that is the worst performer. >> which, at the border, it catches very quickly. , theove to the fx markets dollar and peso up by nine percentage points and the top of the screen is a stronger japanese yen. and he says these are big moves. they are not overly aggressive moves. i got that money that implied it volatility. certain key pairs, you will continue to see a great deal more volatility coming into the story. that is something we need to carry on talking about. >> it will take a couple of days to shake out. i will bring you another key pair you are bringing. showing you what is happening to the euro dollar. this is the most traded in the world and it's not as bad. to the u.s. political establishment but not as big a shock to the markets that came june 24. we have seen volatility pick up dollare overnight euro -- but not as much as had been the case back in june when we would see the volatility really spike for brexit. keep a clean i on the volatility a

stocks finishing higher, stoxx 600 of my a quarter of 1% led by basic resources, insurers, and banks, basic resource companies the best performers it's donald trump's election victory. at the highest level since june 2 thousand 15, the stoxx 600 highest level in almost one month and the martin status has come to an end -- barton status, has come to an end, the stoxx andhas moved between losses gates, that has come to a finish, the to district the longest since may 2013 which has come to an end because today all we had was gains on the stock 600. i want to talk about commodities because the bloomberg commodity index rising for a third consecutive day and the three-day gain of 2.7% is the best since june led by gains in oil, industrial metals. this is the index going back to january, goldman sachs says investors should that on higher prices in the next year as manufacturing picks up around the world and this is the first time that bankers as recommended an overweight position for the asset class in more than four years. industrial metals have rallied 14% in london in the last month, on

stoxx 600 down 0.7%. this is eight straight days of losses on the stoxx 600. we are currently seeing the longest losing streak since october 2014. guy: i am fascinated that the banks are down today. you would have thought a donald trump when could herald -- win could herald good news for the banks. maybe it is just the u.s. banks. g4 s moving up on the margin story. hugo boss trading higher by 6%. , the capacitye story. financials,the standard chartered was down a little bit early on. some of the italian banks are halted. here is the bloomberg first world news with sebastian salek. seb: a new prime minister and finance chief in the aftermath of an influence peddling scandal. a close friend is at the middle of the allegations. the appointed prime minister was a former advisor. another becomes finance minister. will britain remain the preeminent financial sector after brexit? survey, 70 2% a great city of london will retain its role as the main hub for finance in the european union for at least five years. but 78% said brexit would have a negative impact on u.k.

a little bit higher, the stoxx 50 unchanged right now. ftse futures of higher, cac futures, dax futures unchanged. looks like things are moving up this morning as we start to get earnings news out from vodafone, from easyjet, from merck, and more. guy: a lot of corporate news to digest. i know matt likes the gmm function. i think all hang on to this. while i have got it, that's talk about this. what are we seeing? yesterday, stocks were a little more mixed toward the close. now it's what's happening with the bond markets and the dollar. the bloomberg dollar index is softening up, down by around .3%. strength grading back into the dollar. we're seeing the yen picking up, trading up on the yen, 107.90. that move is something we are paying attention to. we are going to talk about that. iron ore on the move. it really continues to be the story of what's happening with the bond market, with the dollar, and of course what is happening up there in trump tower as we figure out who the new team is going to be and what it will look like. that is wh

this is the stoxx 600, credit squeeze down 4%. the outlook statement at what is happening in terms of the litigation that surrounds this business causing concern. credit squeeze down 4%. socgen come a 4.740 not to be sneezed at. the company reported third-quarter figures that beat expectations, net income down on the last year, falling 2.4%. we have been talking to the bank's ceo, about the industry challenges including negative rates and how hard it is to reach their r.o.e. target. >> we set the timbers and would be difficult because the capital base has increased. i would like to say that at the at of the day we had a ratio 11.4, the fact you have a return on equity above 9%, it is something consistent with subjective. going forward, we have to work to ensure that it is a stable and it shows that we are not that far from the subjective. you are confident you can percent will be reached early next year? >> that is what our shareholders are expecting given the cost of capital, yes. we have showed we are delivering step-by-step to

of swings and between gains and losses on the stoxx 600. conjugating, deliberating, thinking about what the double trump election victory means. bond yields are rising. today after a respect yesterday from the selloff since trump's election. state-controlled dutch lender, shares down by 3.8% today. it did report stronger than estimated profits in the third quarter. it also said it would cut another 1500 jobs as part of a cost reduction plan. it returned as a publicly traded company last year. it says the job cuts it needed to offset rising costs. voice royce says it's making progress with restructuring efforts. says it's making progress with restructuring efforts. profit, and for group revenue to be marginally lower than last year's 30.7 billion. the chieft, executive, in the midst of a massive overhaul after 5 profit warnings. rolls royce down by 1.5%. had the mining index which has rallied since trump's victory. goldman sachs says the rally could continue with free cash flow bump. exposure.tocks with goldman sachs sees the likelihood of m

shares in actelion hit bottom of the stoxx 600 as a report suggests the swiss biotech firm is considering a deal with johnson & johnson that would allow it to stay independent. >>> no liftoff for lufthansa. shares sinking lower after the german airliner faces a setback in the courts in its bid to block yet another pilots walkout. >>> you just saw steve there. we'll be crossing straight out to him now. opec's technical team is said to have failed to agree to details of an oil output deal. those reports are having a knock-on effect on prices. slightly lower. not a huge reaction but pulling down a tad. off shy by a percentage point. steve people are saying the market is pricing in we're not getting a deal this time. >> i would probably disagree with them, which is not a rare occurrence. i think the market is beautifully priced to go either way. let's look at the recent history. doha failure earlier this year, algiers, a degree of success in september. when the market didn't think there was going to be a deal, it was around 43 bucks. when they thought, yes, we'll get up to 53, so sitting at 4

stocks rising, the stoxx 600 up by point 25%. earlier today, the stoxx 600 was trading at its lowest level since americans went to the polls, almost wiping out all the post trump rally. stocks alternate between losses and gains and we are gaining with five minutes left and declines in london, gains elsewhere. something strange happened to sterling an hour or so ago. a big move up in a matter of a minute. no real explanation. theresa may made her presence felt at the cbi today. the pound is up against the dollar. that is significant because we had a 10 day losing streak through friday, the longest losing streak since the euro's in sentient in 1999. the closes next. ♪ are you on medicare? do you have the coverage you need? open enrollment ends december 7th. so now's the time to get on a path that could be right for you... with plans including aarp medicarecomplete insured through unitedhealthcare. call today or go online to enroll. these medicare advantage plans can combine your hospital and doctor coverage with prescription drug

stoxx 600 up. the ftse 100 flat. the tactic giving a bit of a downdraft. u.s. futures are pointing positive. we were without direction yesterday, with turkey and compton pie being consumed. today, the futures are adjusting u.s. markets will go higher. they have come off a little bit in the last half-hour. let's have a look at some of the stocks that are on the move. let me show you what i am watching. you mentioned monte dei paschi. currently down 7.6%. we were limited and now are back online. part of a recapitalization. --o, highs on -- on a kelly on actelion after news it might be taken over by johnson and johnson. the deliberations are at an early stage. the m&a we have seen in this industry, the stock up over 9% as we speak. making some tinto games as part of the stoxx 600, one of the key movers out there. comments from the chief executive officer. he is upbeat about the trump administration. insees significant growth the united states. as soon as the trump administration is in place, they will engage with them. once again, another potential beneficiary of

two of the other days, the stoxx few we haveanged not risen 11 days. look at these currencies falling against the dollar. there is a second column. corn yields rising in europe. periphery yields falling. gold the ultimate safe haven is falling today. day after hillary clinton was absolved a second time by the fbi. interesting news in the currency markets. positionhe net short of sterling against the dollar. the pound falling for the first day in seven after the longest winning stretch since marx. -- since march. this is after the high court rolling that -- ruling that theresa may had to trigger article 50. -- ryanair in the news today. the low-cost carrier shares rising as much as 6.3 percent earlier since july 25. it plans to buy back as much as $550 million of stock after record passenger numbers over the somerset quarter profits and beat estimates. it has raised its long-term passenger targeted by more than 10%. pricing pressure and economic arertainty from present whichng the company, downgraded, saying that sterling depreciated more than expected.

we saw the italian banks were weighing on the stoxx 600. it is different today. we have seen italian ranks rising for the first time in five days. lifting the ftse index, rebounding at 1.4%. a mixed picture. down 9/10 of a percent. portugal down .5%. picture across the equities industries in terms of what is happening in fx markets, sterling of .6%. 1.2495.t the sovereign bond space, italy 10 year yield down eight basis points with yields coming down across a lot of the spectrum over the u.k. gilt market being the exception. the stoxx 600, you mentioned energy stocks in the u.s. it is similar in europe. energy stocks down 1.9%, very much the lagarde. , thatals also down includes commodity producers. note to prize in metals markets stoppingstrial metals their rally. coming off of the highs. that said, we are seeing metals on course for the best monthly rally since 2009. al exchange met hit its biggest high sense 2015. finally, i want to show you what is happening with the south african rand. that is leading global currency declines against the dollar. the south af

this is the third game for the stoxx 600 since june 20. it is led by basic resources and auto. look at hsbc today. rising as much as 5%. the biggest gain since april. a surprise jump in adjusted profit. regulatory decision boosted key capital rights. the chief executive making progress, combating this low growth environment, revenue rising faster than costs. thanhe first time in more a year in global banking markets, which houses the investment bank adjusted profit jumped $2.5 billion from 1.93 a year earlier. this climbed 46%. the biggest jump among european lenders. look at these lenders since brexit. most of their revenue comes from asia. chartered, most of their revenue comes from asia. they are up 11%. barclays is literally flat on the period. we have safe haven assets declining today. silverllowing gold and lower today. news, goldhe fbi surging on concern that donald trump may capture the white house. llion prices have traded as a barometer of donald trump's of winning the contest even as investors track u.s. data for a possible fed rate hike in december. silver and gold

yesterday we had the stoxx 600 rise by 0.01. of a point.h we're close to 10 consecutive days of losses and on track for a second weekly drop here the longest losing streak since october 7. the 3.7% fall is the biggest since february. nerves are frayed ahead of the u.s. election next week. this is the fear index. .he v stocks index the key volatility gauge is rising for the 10th consecutive day. the longest gaining stretch since august 2011. we are the highest level since july 7, pre-brexit. gauge rosese -- the sinceay, the highest 2011, the closing was 40, the highest since august 2015. this tells you the level of fear volatilities are experiencing. this is the decliner of the stocks. jc deco, down 10%. the biggest fall since june 27. the world's biggest outdoor advertising company. third quarter best estimates. organic growth was 1.5%. a trend the company hopes to reverse in the fourth quarter. they cite a global economy and uncertainty over the brexit and the volatility in most markets. sterling against the dollar headed for t

election underway in -- in norway, investors taking caution, the stoxx 600 trading at a lower volume. europe has seen its share of uncertainty with the brexit vote in june. what could be the implications of the election outcome and what does it mean for you up-europe trade relations? joined by the deputy finance minister of germany, jens spahn. which outcome is better for germany, clinton or trunk -- prompt --trump? jens: you do not expect me to comment on election day, we just note that there will be a different kind of challenge. mark: can we talk about the challenges, what sort of challenges when it comes to relationships between germany and the u.s. or europe and the u.s. does first a clinton presidency present and day trump presidency -- and a trump presidency present? jens: we need to talk about a common approach when it comes to free-trade. a big part of the campaign in the u.s. europe, ifr side, in it is syria, russia, ukraine, or north africa, we have tasks to fulfill and we need to talk about how much for example the u.s. want to engage in the future in europe and in the nei

the stoxx 600 is down by 2.31%. let's get details on what exactly we have been seen in the market as we have been listening to donald trump, the president-elect of the united states. the market heard something in the speech that he liked. what was it? >> i think it was conciliatory -- that was a good thing. if the structure spending is a good thing from an economy perspective. the market now is beginning to realize that perhaps with a republican clean sweep, fiscal policy may be a reality. we are one minute and 10 seconds away from the opening valley new york city. the story in europe looks like this -- we were down as much as two full percentage points and more in today's session, and then we raced all the losses on the day. the stoxx 600 unchanged on the day. a remarkable turnaround for european equities. a remarkable turnaround for .utures as well, alix down 5% at one point. now down just pointed percent. alix: investors learned from brexit -- it took a while for stocks to recover, but the by the dip mentality ve

stoxx 600 is down by 0.2%. sterling gets lower. it was lower going the to the autumn statement and lower on the other side of the autumn statement as well. you are watching "bloomberg markets america." ♪ vonnie: live from new york and london, i am a. mark: i am mark martin. -- i am mark barton. -- i am vonnie quinn. julie, you have the latest. julie: little change ahead of the opec a meeting in vienna on tuesday. we could see more volatility with these numbers coming in a couple of seconds. indeed, unexpected drop in inventories of 1.2 6 million barrels. it looks like analysts were estimated a million barrels. leg up. we saw a big building gasoline inventories. refineries up by 1.6%. we are seeing this initial bouts on the headline crude oil inventory number declining. i would not be surprised as a little bit of a come down and that is what is happening, a little bit of volatility as people look at gasoline inventory numbers going little a busy time for driving with the holidays. interesting to see that building gasoline inventor

the stoxx 600 up for a second day, heading for its third of course, wed are watching oil. the vti up .8%. this is bloomberg. ♪ nejra: live from london and new york, this is the european close. equities finishing up the day in european trading. i'm going to take you through all the market action in just a second set we are going to give you a check on brent crews -- brent crude. the first output cut in years -- both wti and brent rallying on that. , but itow $50 a barrel did go above 50 for the first time since the end of october. a close eye on that at the moment. western europeo from global so we can see what is happening in the equity space in europe as the markets close. up 3%,p 2%, greece norway up 1.4%. we were seeing the ftse gaining fx space, ain the little bit of a stronger story. franc, sterling much unchanged. in terms of what's happening in the fixed income space, 10 year treasury yields hitting hard. for basis 10 year up points but we are seeing yields move higher and you can see what is happening in the commodities space. down one point 4%. that has been mov

of what's happening in european stocks, stoxx 600 for much unchanged right now. .1%. it is near one-month high, also set for a third weekly gain, the longest streak of weekly game since july. all of this bearing in mind the volume is lower than the 30 day average, around 40% lower. in terms of what's happening in the sector space, a little bit of a mixed picture here. we health care stocks leading the gains, i will come onto that little more in just a moment. energy lagging with weaker oil price down .7%. we're also seeing materials which includes the commodity producers off by .2% and financials underperforming as well. i wanted to bring up actively in. what we've seen is the shares spiking, hitting a record high. we got some breaking news, they have confirmed the approach by johnson & johnson about a possible transaction. we've seen shares of actively -- acted -- activity on aoar -- soar. vonnie: getting a check on u.s. majors in the details of what's going on in the u.s. market. it's a shortened trading day, but we have some trading today. abigail: record highs in

shares of actelion rally to the top of the stoxx 600 on a reported takeover approach from johnson & johnson, energizing the rest of the european biotech sector. >>> the daily mail and general is a paper weight on the london market as barclays turns a new page and downgrades the stock and cuts its target price. >>> the italian stock market underperforms its european peers. monte dei paschi weighing on the ftse mib as shareholders approve the bank's 5 billion euro cash call but sell out of the stock in early trade. >>> a revolt over romney. a number of republicans go public with their opposition to donald trump's secretary of state front-runner, longtime rival mitt romney, while the president-elect prepares to name wilbur ross as commerce secretary. >>> hi everybody. good morning. happy friday. the end of another week which means -- what date is it today? a month away from christmas. i actually started doing christmas shopping yesterday, believe it or not. european equity markets this morning a bit lower, just a couple points off. we are looking at asian markets set for weekly gains. u.s. two

. >>> bayer slumps to the bottom of the stoxx 600 following its 4 billion notes placement to fund the acquisition of monsanto in the biggest equity raising of the year. >>> hugo boss goes down a size. the fashion brand pledges to slim down operations, focusing on its two main brands as it pledges to get back to growth by 2018. >>> the iea warns of a period of greater oil volatility ahead but prices won't peak before 2040. we'll speak to fatih baril. >>> welcome back. we have a full hour for you on "street signs." this morning, a similar story to yesterday with the markets, most of the markets hanging on to green. a couple markets trading slightly lower. the ftse off by a couple points. the cac 40 and the ftse mib trading higher, the dax just a bit lower. we've seen heavy weightings in the likes of pharmaceuticals. technology up by 1.3%. and two sectors seeing some trading, healthcare and chemicals. looking at bouygues shares, the company confirmed 2016 earnings outlook despite the french industrial group posting a 3% fall in sales for the first nine months of the year the bouygues ope

investec and zurich top the stoxx 600 as both firms announce divided hikes, with the swiss insurer targeting an eventual payout of 75% of its net profit. >>> donald trump prepares to meet his first foreign leader, japanese prime minister shinzo abe, as the bank of japan goes on the defensive, buying jgbs in a bid to offset rising treasury yields. >>> good morning again. welcome. glad to have you with us for this next hour. we have lots going on. a packed show for you. just giving you an indication of where europe is trading, we were called higher by the spread bettors before we opened an hour ago, hanging on to those gains, just over a tenth of a percent. over night, the bank of japan conducting the bond buying, stopping jgb yields from highing higher this had an effect stateside and some rejigging of yields in europe. when it comes to some bigger movers out there, also just looking at some of the stock specifics, investec has been trading higher after reporting a solid set of first half earnings, similar for zurich. ahold trading lower after weakness in the firm's u.s. business hurting oper

. >> let's have a look at the stoxx 600 are in it is flat around lunchtime. lethargy of thanksgiving is being felt on this side of the atlantic. we see half of the stocks trading higher. let's move on to the dollar. let's look at what's really moving. are coming off at the highest level in more than 10 decades. that is the white line. minuteswe have the fed yesterday. the data does support the case for a rate hike. the labor market is tight enough. the dow jones is hitting a record high earlier in the week, passing 19,000. consumer sentiment is on the up as well. the market is supporting a hike from the fed. that is pointing to a 100% chance of a hike this december. we will have to wait and see, a strong dollar is way down on emergency -- emerging markets. we've got the indian rupee at a record low. ae vietnamese currency as at record low. there are domestic factors in play there as well. that is also weighing down on that currency. the index in general is at a five month low. i want to leave you with one currency to watch. the world's oldest bank, the shareh

. >>> and aberdeen hitting the top of the stoxx 600 after the value of its managed assets rises by 10% despite a net outflow of funds amid political volatility. speaking to this program, the ceo downplayed the impact of the u.s. election. >> obviously, we've seen a temporary setback with donald trump being nominated as president, but i agree with the sentiment that great opportunity for 2017-2018. >>> hi, everybody, and welcome to the show. very glad that you're with us for this full hour. we've got a packed show for you, and indeed kicking off with some data just hitting our wires, the italian november consumer confidence figure 107.9. that's slightly higher than what had been anticipated, a little lower than what we saw in october. 108 is what we saw in october. we're looking also at the business confidence figures printed, 101.4, versus october figure of 101.7, so pretty much what we saw the prior month is what we're seeing here for the month of november. the euro/dollar relatively unchanged at the moment, a little up by 0.7%, 106.59. there are a lot of issues taking place with rega

looking at industry groups on the stoxx 600, down 0.5%. health care stocks leading the losses, down 1.3%, followed by financials. commerzbank and bmw year-to-date , these are two of the worst-performing stocks on the dax this year. commerzbank down 37%. bmw down 23%. i am focusing on these as well as richemont. let's see how richemont is doing. it unveiled a sweeping overhaul of top management and its board as it grapples with plunging sales of luxury goods. taking a look at commerzbank, it expects to post a full-year profit after costs tied to the the germanaul pushed lender into a third-quarter loss. still waiting for bmw to open. third-quarter profit rose as demand for its suvs propelled sales for europe and china. there it is, down 2%. guy: thanks very much indeed. let's talk about what's happening in europe. bond sales are soaring under the ecb's asset purchase program. issuers have been reluctant. they are using the proceeds to fund m&a and refinance debt. francesco garzarelli is still with us. francesco, is policy the way it is desi

the stoxx 600 up 1.5%. chinese exports not living up to expert -- expectations. german output falling. because bit of caution of some of the economic data. and some breaking news. investors see full-year adjustment margin at 13%-14% upgrading it. to be are continue positive win for investors on the back of a potential clinton victory. a big sector exposed to the u.s. election. let us get more on the bloomberg first word news. china's exports a felt for a seventh straight month in october on tepid global demand. dropped 7.3% from a year earlier in dollar terms. 1.4% leaving a trade surplus. the yuan has depreciated 9% since last august but it failed to provide a sustained boost to exports. the u.k. chancellor philip hammond is facing a 25 billion pound whole in public finances halloween the brexit vote. that is the warning from the institute of fiscal studies. diminished growth will result in lost tax revenue. only partially offset by a reduction in spending. meanwhile, the brexit secretary david davis has been pressed by opposition lawmakers to provide more detai

we think the stoxx 50 will be up by around .05% this morning. walking around the board though, the g.m. smmbings the real story. this column here is the real story. the bloomberg dollar index. up .5%. the yen is trading at 110. a number of central banks in the market intervening. it is a busy, busy session. we're really getting into the foothills of what we're going to see throughout the day. here the bloomberg first word news. >> president elect donald trump is considering mitt romney for the job of secretary and plans to meet with him tomorrow according to a transition official. romney previously led opposition to trump warning cnn in june that his election would mean trickle down acism, bigotry and misogyny. shinzo abe has spoke positively about his meeting yesterday with trump. he was the first world leader to meet the president elect face to face. >> we had a long and frank discussion on a number of issues in a warm atmosphere. i can confirm that the president elect trump is a eader i can trust. >> volkswagen has reached an agreement with w

the stock x up -- the stoxx up. this is improving sales in china. we are keeping an eye on list on the -- on the tomsula -- on lufthansa. waiting for numbers as it stands at 2195, unchanged after profit matched analyst estimates. questions about the dividend is surely going to put for the thes onto the tomsula. focus onto lu fthansa. and talkus move on about what is happening in the banking sector. meanwhile, financial progress in europe has also steadily risen. is fx7p. just starting to bounce back and being given a decent night higher by donald trump. as you canhigher by donald trum. as you can see, they have been rising as well. a few key names in focus. deutsche bank is one of those names. banks that trade on very low values and the credit risk stories surrounding them has been on the market has been trying to highlight. banks, are they cheap? in the u.s., it is a different story. regulation could be a different story over there to latch onto the kvitova. onto as well. do i need to be selective? is arice index, esse catchall. i need to pick care

investors have had to deal with the wildest swing since brexit with the stoxx 600 fluctuating 1.4%. calm, but weparent have seen one of the wildest days this year. now, let's move on to the individual stocks i am looking at today. starting with rio tinto. it has fired two of its top executives overpayment connected to a giant iron ore project. holde also looking at a thihold this morning. this is the first consolidated earnings report since it completed that consolidation. and then zurich will cut off $1.5 billion through 2019, a bit of an overhaul for switzerland's biggest insurer. matt: now, let's talk about what is going on in fixed income. the yield gap between the u.s. and german debt levels has widened to a level not seen since 1989. expectations are that president-elect donald trump will expand fiscal stimulus, pushing the benchmark u.s. 10 year yields higher. i wonder, michael metcalfe is still with us, the global head of microstrategy, what this tells us about germany and about europe. i mean, is this austerity attitude still prevailing? stoppedaghi has only short of beggin

seven days of decline for the stoxx 600, the longest losing run since february. stocks have started november as they finished october. look at what is happening to currencies, the big data point today was u.k. manufacturing. sterling is down against the dollar, 1.2233. this is bloomberg. ♪ mark: live from london and new york, i am mark barton with vonnie quinn. the tuesday session, down by 1%, the lowest point since july. decline.s of longest losing stretch since february. every single industry group is lower today and earnings are dictating the mood of investors. michelle with third-quarter profits beating estimates. acquisition of bg boost oil production and helped to counter the slumping prices. ep profit fell 49%. it was a beat. crude prices fell. production and division posting a loss, as well. this is a great chart, this is generally 20th, when oil and gas companies fell to the lowest level in 13 years. the car the majors compared. shell up by 17%, chevron up 34%, and exxon mobil up by 14%. all up but to varying degrees. i want to focus on this chart beca

the stoxx 600 over all down 0.6%. the donald trump effect is losing a little bit of its sway over global markets today. 46.03.oikl we have no clue if opec will cut or not. michael: let's take a look at the italian referendum. the difference between 2012 and today in terms of overall market concern. spread between the german 10 year and the italian 10 year. worried about greece, when mario draghi had to come out and say whatever it takes, we are nowhere near that level of concern. even if we get a no vote in the referendum, it is not affecting the markets the way we saw three years ago. thisine: because of program, however, that takes the question if it forces draghi's hand. that brings us to our charts. this is what i am seeing. i want to notice the 10 year. spread between france and some of the other countries is really quite wide and expects to get worse because of that risk. michael: we are joined now by gideo rn rose. the latest issue "the power of populism." still with us is bill lee. how do you explain that the

little changed on the stoxx 600. vodafone reported second-quarter eat estimates. the continental european .perations better than expected outweighing a $500 billion euro write-down. vodafone does faith challenges in the u.k., as well as in india, which is a key market for growth. britain planning to leave the eu will affect the economy. means --on for a remains fierce. down 5.4%. this is an interesting story. reddish american tobacco are higher. the second-biggest maker in the u.s. seeking a higher price rejecting the $47 billion buyout. this is according to people familiar with the matter. that -- stoped cost offer represents a 20% premium. the tobacco giant falls and willing to increase the price slightly. we have had a plethora of data and the euro area. in the third quarter. in line with the second quarter. economy -- the italian economy grows bigger giving a boost, to the prime minister ahead of vote next month. the pickup could be slow there. this may hinder efforts to deficit.he budget in the netherlands, gdp rose unchanged from the previous quarter. this s

that is helping to raise the overall stoxx 600. this is on slightly more optimistic out put i would say. the an eye changing by the hour. oileard from the iranian minister. the question of course is that this is going to be a face-saving deal or will it have any meaningful impact. guy: thank you very much indeed. about us turn to what is happening in italy. italians will vote on a constitutional referendum on sunday about what could be the political and economic fallout from a no vote. matteo renzi may resign from office. for could see some support the eurosceptic populist five star movement, the party which wants a referendum. the business lobby wants the economy to -- according to the business lobby, the economy could fall into a recession. renzi has made an appeal to undecided voters in a more than one hour-long facebook live session. the last time we checked and we have been checking quite hard, the video had more than 60,000 andents, 8.6 thousand likes 3.9 thousand angry faces. this is what we are coming down to. 2.7 thousand

looking at the stoxx 600, a turnaround from earlier. it is rebounding. most industry groups in the green except for energy stocks jar down 7/10 of 1%, no surprise given that oil is retreating below $47 a barrel after opec leaders failed to bridge divisions after 10 hours of talks. also, puttingdown them on core for them best month and more than seven years. ,ou see the lme index of metals the highest since may 2015. yesterday cop lead and zinc ended at 80 or higher. you are seeing them come down, copper and zinc down 1% today. where metals have rallied on the trump trade, the yen has weekend , and is resuming at slide today. it is the worst performing g 10 currency versus the dollar today , heading for its worst month since 2009. yesterday it had its biggest one-day rebound in two months but rarely made a dent. you can see from the white line, the blue line showing that hedge funds speculators have trimmed. francine: thank you so much, nejra cehic with your asset check. plenty coming up, including ronnie versus petraeus. -- romney versus petraeus. and fi