World Markets Live - April 12 - CNBC Live Events
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CNBC Live Events

World Markets Live - April 12

We’ll be updating you throughout the day with essential breaking news, data alerts, earnings reports and all the major market movements.

  • Good morning. Looks like investors have been pouring into safe havens amid geopolitical concerns. Gold is at a five-month high and yields on U.S. Treasuries at their lowest levels. In Europe, stocks look set for a mixed open as investors continue to remain cautious of risks all around. Here are your morning calls for Europe:
     
    FTSE 100: 7356 (-8)
    CAC: 5099 (-0.8)
    DAX: 12153 (+24)
    FTSE MIB: 20112 (+30)
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  • Here are your top stories at this moment:
     
    • Investors pour into safe havens amid geopolitical concerns, pushing Gold to a five-month high and yields on US treasuries to the lowest levels this year. 
    • "We're not going into Syria" - Donald Trump says the US will not enter the Syrian civil war, while his administration accuses Russia of defending the Syrian government, as Secretary of State Rex Tillerson visits Moscow. 
    • Producer inflation in China comes off an eight-year high, easing for the first time in seven months, as Chinese steel producers begin to cut prices.
    • Shares in United fall, as the passenger scandal spirals into a social media storm in China, costing the airline's biggest shareholder, Warren Buffett, more than 23 million dollars. 
       
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  • The White House has hit out at Russia for its staunch defense of Syrian President Bashar al-Assad, saying that it was "covering up" for his alleged used of chemical weapons.
     
    But, speaking to Fox Business, US president Donald Trump said he had no plans to escalate the conflict further by entering Syria. However he added that his Russian counterpart was backing the wrong side. 
     
    Frankly Putin is backing a person that's truly an evil person and I think it's very bad for Russia, I think it's very bad for mankind, It's very bad for this world but when you drop gas or bombs or barrel bombs you have this massive barrels with dynamite and they drop them right in the middle of a group of people and in all fairness you see the same kids, no arms, no legs no face... this is an animal
     
     President Donald Trump Leads A Strategic And Policy CEO Discussion : News Photo
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  • Dennis Gartman, Editor & Publisher, The Gartman Letter joins us live to discuss the volatility index:
     
    What the VIX is currently trying to understand is that you can have a measure of volatility only in one direction. Volatility should only be a measure of volatility not a measure of bearishness or bullishness. I think that's what is happening. The market is trying to understand that a 1 percent move higher or a one percent move lower is exactly the same thing. And the VIX is responding to that. 
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  • AkzoNobel has received a request to hold an Extraordinary General Meeting (EGM) to dismiss Antony Burgmans as Chairman of the Supervisory Board. The request was received from a number of shareholders led by Elliott Advisors. Elliott Advisors has stated it became a shareholder in AkzoNobel in December. That's according to Dow Jones.
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  • Russian president Vladimir Putin dug in his heels on the issue, saying Assad's opponents had carried out false-flag chemical attacks in order to justify more US strikes. Speaking ahead of US Secretary of State Rex Tillerson's visit to Moscow, Putin said Russia had intelligence to back up the claim, adding that the attacks in Syria needed to be fully investigated by the United Nations. 
     
    We have intelligence from various sources that similar provocations are being prepared in other regions of Syria, including southern suburbs of Damascus, where they are planning to plant chemicals and blame the Syrian government for using them. But we believe that any displays of this kind deserve to be thoroughly investigated. We are going to officially turn to the corresponding UN structure in the Hague and to call on the international community to thoroughly investigate these actions (chemical attack in Syria).
     
    Russian President Vladimir Putin receives Italian President Sergio Mattarella at the Kremlin : News Photo
     
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  • White House Press Secretary Sean Spicer has been forced to apologize for saying Hitler did not use chemical weapons. Delivering his daily press briefing, Spicer sparked condemnation when he made the claim in reference to Assad's alleged use of the weapons. Spicer attempted to clarify his remarks when a reporter pressed him further. 
     
    I think when you come to sarin gas there was no, he was not using the gas on his own people the same way that Assad is doing, clearly, I understand your point thank you, thank you I appreciate that, there was not in the, he brought them into the holocaust centre, I understand that, but I'm saying in the way Assad used them where he went into towns, dropped them down into innocent, into the middle of towns, it was brought - so the use of it, I appreciate the clarification there, that was not the intent.
     
     Sean Spicer Holds Daily Press Briefing At The White House : News Photo
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  • US Secretary of State Rex Tillerson has arrived in Moscow for talks with his Russian counterpart Sergei Lavrov. This after the Foreign Ministers of the G7 countries failed to reach an agreement on further sanctions on Russia.
     
    Speaking to CNBC, the Italian Foreign Minister Angelino Alfano explained why he and his G7 counterparts had failed to agree
     
    Our approach has been very clear. At the moment, there is no consensus for further sanctions as an instrument to obtain the goal that we are aiming for. There are different sensitivities on Syria: our colleague Boris Johnson, in fact, raised the issue. And I am saying this not to express what everyone in the group thinks, but rather the Italian approach, I want to be very clear about that. Sanctions are always an instrument, they are not an end themselves. From our point of view, sanctions are an instrument to reach a goal. For instance, in the case of Ukraine, it was very important for us not to have automatic renewal of the sanctions because the ultimate aim is to ensure peace and stability, not to have sanctions for the sake of it. So, I believe that on this issue the G7 position is very clear: supporting the existing sanctions.
     
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  • North Korea has warned of a nuclear attack in response to any American aggression. State media said the country's military is ready to act as a U.S. Navy strike group moves towards the western Pacific. 
     
    President Trump once again called on China to rein in its neighbor, tweeting that China would get a better trade deal with the US, if it helps to resolve issues with North Korea.
     
    China's state broadcaster has responded saying that President Xi had discussed the North Korea situation on a call with President Trump and stressed that a resolution should be achieved by peaceful means.
     
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  • EU's Juncker has not seen Italy's economic and financial document but Government's commitment is certainly in right direction. That's according to Reuters.
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  • Shares of airline United Continental slid yesterday, falling as much as 4 percent, before recovering to finish around 1 percent lower. 
     
    The move reflected Wall Street's reaction to the public outrage at United Airlines after a video surfaced online showing a passenger being violently dragged from his seat by airport security.  The man was forcibly removed from the aircraft  to make room for a United employee on an overbooked flight.  
     
     
     
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  • Warren Buffett's Berkshire Hathaway, United's largest shareholder, may have lost more than 23 million dollars as the share price plummeted. Berkshire owns more than 9 percent of the company. 
     
     
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  • Here are your top stories at this hour:
     
    • Investors pour into safe havens amid geopolitcal concerns, pushing Gold to a five-month high and yields on US treasuries to the lowest levels this year. 
    • "We're not going into Syria" - Donald Trump says the US will not enter the Syrian civil war, while his administration accuses Russia of defending the Syrian government, as Secretary of State Rex Tillerson visits Moscow. 
    • Producer inflation in China comes off an eight-year high, easing for the first time in seven months, as Chinese steel producers begin to cut prices.
    • Akzonobel comes out in defence of its chairman after activist investor Elliott Advisors calls for an EGM to dismiss him, stating the move would be "irresponsible" and "damaging."
       
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  • EU's Juncker says sees U.S. President Trump with "growing benevolence". That's according to Reuters.
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  • Let's take a look at how markets are trading this morning with Karen.

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  • BHP Billiton has rejected activist investor Elliott Advisors' proposed restructuring plan, describing it as fundamentally flawed. The mining group says the measures put forward stand to destroy substantial value while offering minimal cost savings.
     
    BHP also shot down the idea it should return more cash to shareholders, saying now is not the right time for a 6-billion dollar share buyback. 
     
     
    Comment ()
  • AkzoNobel has rejected Elliott Advisors' call for it to carry out a management overhaul. 
     
    The Dutch chemicals firm says it will throw out the activist investor's proposal to dismiss Antony Burgmans as the Chairman of its supervisory board. However, it has still agreed to hold a shareholder meeting to discuss the proposition. 
     
    Meantime, AkzoNobel says it informed regulators of evidence that Elliott passed on price sensitive information about its calls for a management overhaul to US rival PPG. 
     
     
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  • In the latest twist in the French Presidential race, left-wing candidate Jean-Luc Melenchon has surged into the top 4, just half a percentage point behind conservative candidate Francois Fillon, with 18-point-5 percent of voters' support.
     
    Claire joins us live from Paris:
    It is true that it has been a surprise in this final stretch of election with 11 days to go this rise of the hard-left candidate Melenchon. He has picked up half his votes from socialist candidate and has done a pretty good performance in the TV debate. He appeals to those representing the left and also appeals to the centrist voters.
     
     
     
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  • In Venzuela, thousands of people' who are demanding new elections, are facing off with security forces daily. Yesterday, crowds threw objects at President Maduro at a rally.
     
    The protests erupted two weeks ago in response to what his opposition sees as Maduro's slide towards a dictatorship 
     
    Clashes continue in Caracas  : News Photo
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  • The winning streak continues for Crude. Brent and WTI are both tracking higher today in early trade on reports that Saudi Arabia is backing an extension of an output cut deal among producer countries.

    Brent finished higher for the 7th straight session yesterday with WTI putting in 6 straight days of gains.
     
     
    Comment ()
  • Here are your top stories at this hour:
     
    • Investors pour into safe havens amid geopolitcal concerns, pushing Gold to a five-month high and yields on US treasuries to the lowest levels this year. 
    • "We're not going into Syria" - Donald Trump says the US will not enter the Syrian civil war, while his administration accuses Russia of defending the Syrian government, as Secretary of State Rex Tillerson visits Moscow. 
    • Producer inflation in China comes off an eight-year high, easing for the first time in seven months, as Chinese steel producers begin to cut prices.
    • Akzonobel comes out in defence of its chairman after activist investor Elliott Advisors calls for an EGM to dismiss him, stating the move would be "irresponsible" and "damaging."
    Comment ()
  • TEsco has reported its group sales up 2.3 percent to £49.9 billion. Tesco says confident they can build on this strong performance in year ahead, making further progress towards medium-term ambitions.
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  • China's consumer price inflation rose nearly one percent in March. But that was slightly below forecast, as lower food prices put some downward pressure on the number.
     
     
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  • Chinese social media has exploded with outrage after a video went viral showing a passenger who appeared to be of Asian ethnicity being dragged off an overbooked United Airlines flight with a bloodied nose.

    The topic, #UnitedAirlinesforcespassengeroffplane, has held strong as a top trending topic over the last two days on Weibo, China's answer to Twitter.

    The boycott starts with me, posted one online user, BJ Shizilu, along with a photo of his shredded Mileage Plus card. Another said, Whether the passenger is Asian or not, this is abominable, according to a post by Koukou Liang.
     

    Chinese social media continues to rage at United, and the airline may face real fallout

    CNBCThe viral video depicting a passenger dragged off of a United Airlines plane has triggered outrage on Chinese social media.
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  • South Africa's Finance Minister Gigaba says fully appreciates gravity of recent downgrades, they are a set back. Gigaba says fully aware of impact on government's ability to borrow affordably. Priority is inclusive growth, Gigaba says.
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  • France's fiscal watchdog says government's 2017 growth estimate is "plausible" though higher than most other available forecasts. The government forecasts 2017 GDP growth of 1.5 percent in annual stability programme, unchanged from previous estimate.
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  • European bourses are expected to open mixed on Wednesday morning as investors continue to digest a drumbeat of geopolitical news which has fueled the buying of safe-haven assets such as gold.
     
     
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  • President Trump has repeated his vow to reform Wall Street regulation. In a meeting with CEOs, Trump said he was going to reduce taxes and revamp Dodd-Frank, or may even eliminate and replace it with "something else".

    Trump also reiterated his criticism of NAFTA and told executives to expect some "very pleasant surprises" coming from his administration in regards to the trade agreement.
     
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  • Kevin Entricken, CFO of Wolters Kluwer joins us live to discuss Trump's administration and US economy:
    The state budget is really important to the education sector. 
     
     
      Anytime there is change and complexity it is good for a company like us because it allows us to reach out to our customers and navigate through that change or complexity. When we talk about regulation or deregulation there are lot of things that financial institutions have to grapple with and that is where we can help.
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  • Elliott Advisors have said Akzo boards acting in a "self entrenching and obstructive manner". The board failed in duties to shareholders and other stakeholders. Akzo Nobel shareholders representing 10 percent stake are acting together only to call EGM. That's according to Reuters.
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  • Asian markets were mostly lower on Wednesday, as tensions continue to ratchet up on the Korean Peninsula following a warning from North Korea of a nuclear attack on the U.S.
     
     
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  • European markets are open for trading now. The pan-European Stoxx Europe 600 is trading 0.20 percent higher at the open:
     
     
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  • Major European indexes have opened slightly higher this morning as investors eye geopolitical risks and remain cautious:
     
     
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  • Let's take a look at the best and the worst performing stocks this morning:
     
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  • AkzoNobel has rejected Elliott Advisors' call for it to carry out a management overhaul. The Dutch chemicals firm says it will throw out the activist investor's proposal to dismiss Antony Burgmans as the Chairman of its supervisory board. However, it has still agreed to consider Elliot's request for it to hold a shareholder meeting to discuss the proposition.
     
     
    Comment ()
  • BHP Billiton has rejected activist investor Elliott Advisors' proposed restructuring plan, describing it as fundamentally flawed. The mining group says the measures put forward would destroy substantial value while offering minimal cost savings. BHP also shot down the idea it should return more cash to shareholders, saying now is not the right time for a 6-billion dollar share buyback. 
     
     
    Comment ()
  • Tesco's 2016 profit rose 30 percent, topping analyst forecasts. The UK retailer reported full-year profit of £1.28 billion, ahead of estimates of £1.26 billion. Meantime like-for-like sales in the UK were up nearly 1 percent on the year.
     
    We'll be speaking to Tesco CFO, Alan Stewart, later this morning. Tune into Street Signs for that interview at 10 CET.
     
     
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  • Daimler has posted an 87-percent year-on-year increase in first quarter profits, thanks in large part to rising demand for its Mercedes-Benz cars. The German automaker's earnings before interest and taxes climbed to 4 billion euros, beating market expectations.    
     
     
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  • European autos are broadly higher this morning, after BMW and Volkswagen reported sales figures for the month of March. VW's brand sales rose 2.5 percent year over year, while BMW saw brand sales jump more than 5 percent in March. 
     
     
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  • Puma has raised its 2017 profit and sales guidance.

    The German sportswear firm posted a 70 percent jump in first quarter earnings. The company is expected to release a full breakdown of its first quarter results on April 25th 
     
     
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  • Altice USA, the American arm of the Netherlands-based telecoms and cable company, has filed to go public. Altice's expansion into the US began when the firm acquired Suddenlink Communications in 2015 and Cablevision in 2016.  A source familiar with the matter told Reuters the US listing will seek to raise 1 to 2 billion dollars, helping Altice to fund future acquisitions in the sector. 
     
     
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  • China Foreign Ministry says President Xi initiated phone call with U.S. President Trump to discuss North Korea.
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  • Chinese President Xi Jinping discussed the situation in North Korea with U.S President Donald Trump on a telephone call on Wednesday, China's state broadcaster said.

    Xi stressed that a resolution of tensions on the Korean peninsula should be achieved by peaceful means. The phone call came a week after Trump and Xi met face-to-face for the first time at a summit in Florida
     
     
    Comment ()
  • Here are your top stories at this hour:
     
    • European investors shrug off market anxiety in the US, after investors pour into safe havens, pushing Gold to a five-month high and yields on US treasuries to the lowest levels this year.
    • A muted reaction by investors after Tesco tops analyst estimates on 2016 profit, as the retailer shows signs of a sustained recovery. We'll be speaking to the company's CFO, Alan Stewart at 10 CET.
    • Autos race ahead, outperforming in early trade, bolstered by strong Q1 figures from Daimler. 
    • Shares in United fall, as the passenger scandal spirals into a social media storm in China, costing the airline's biggest shareholder, Warren Buffett, more than 23 million dollars. 
       
    Comment ()
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