World Markets Live - April 13 - CNBC Live Events
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CNBC Live Events

World Markets Live - April 13

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

  • Good Morning everyone. It's the start of a long weekend here in London and some of us can't wait to start it. But stocks across US and Asia don't seem too happy after Trump talked down the dollar. In Europe, the mood is a bit dim as well with futures pointing to a lower start of the trading day. Here's a look at what European futures look like this morning:
     
    FTSE 100: 7327 (-19.3)
    CAC: 5086 (-17)
    DAX: 12113 (-46)
    FTSE MIB: 19940 (-83)
     
    Comment ()
  • Here are your top stories at this hour:
     
    • Trump talks down the dollar and sends it to a five-month low against the yen - The President says the currency is "too strong" and tells the Fed to keep rates low.  
    • Russia uses its veto power to prevent the UN security council from condemning the chemical attack in Syria, as Donald Trump says relations with Moscow may have hit an all-time low. 
    • Turkey gets ready to vote in a referendum on Sunday that could hand increased powers to President Erdogan, as the latest polls show 'yes' is slightly ahead. . 
    • Akzo under attack! Activist investor Elliott Advisors threatens to sue the Dutch paintmaker, as it seeks to oust the company's chairman, who opposes a takeover by PPG. 
       
    Comment ()
  • Markets in Asia traded mixed on Thursday, with Japanese shares dropping amid a stronger yen against the dollar.
     
     
    Comment ()
  • Xi Jinping has called for a peaceful resolution to rising tension over North Korea in a phonecall with President Trump. Trump said on Twitter that the call with his Chinese counterpart was "very good". Speaking later at a news conference the President added that Xi wants to help, but repeated that the US was ready to act without China if necessary.
     
    Comment ()
  • The battle between activist hedge fund Elliott Advisors and AkzoNobel is heating up. Elliott is threatening to take legal action against the Dutch paintmaker, if the company refuses to let shareholders vote on whether it should fire its chairman. 
     
    The chemical group has reported Elliott to regulators for potentially having shared price sensitive information with US rival PPG. AkzoNobel's chairman Antony Burgmans is known to have opposed PPG's attempts to acquire the Dutch paint-maker, a tie-up which Elliott publically supports.  
     
     
    Comment ()
  • The man who was violently dragged from his seat on a United Airlines flight has begun legal action. Lawyers representing Dr David Dao have filed an emergency request to require United Airlines and Chicago O'Hare airport to preserve all video recordings and other evidence relating to the incident.  
     
    Meanwhile, United Airlines announced it will refund the ticket price to ALL passengers who were on the aircraft when Dr Dao was dragged from his seat. The company also said it will no longer ask law enforcement officers to remove passengers on overbooked flights.
     
    Comment ()
  • Tesla CEO Elon Musk has fired back at investors who are unhappy with his company's governance structure.
     
    Five shareholders have written a joint letter to the electric carmaker recommending two new board members and calling for an annual re-election process for all directors.
     
    Musk took to Twitter to tell the group in jest that perhaps shares in Ford would be a better fit for their portfolios.

    This follows a surge in Tesla's share price, putting it in a close fight with General Motors to be the country's most valuable automaker.
     
     
    Comment ()
  • Pre-orders for Samsung's new S8 smartphone have exceeded that of its previous S7.
     
    That's good news for the South Korean conglomerate which is relying on its flagship device to fully recover from the Note 7 combustion scandal.  

    Samsung is expected to post record profit in the second quarter of 2017 due to a boost from the S8 and growth in its chip business.
     
    Meanwhile heir to the Samsung group Lee Jae-yong was in court in Seoul for the continuation of his bribery trial.
     
    He is accused of using 38 million dollars of the company's money to influence impeached South Korean President Park. Lee was arrested in February and has pleaded not guilty to all charges.

     
    Comment ()
  • Just ten days out now from the French election, and the latest poll puts the Far Right candidate Marine Le Pen slightly ahead of rival Emmanuel Macron in the first round. 
     
    But it's the rise of the far-left candidate Jean-luc Melenchon in the polls - and the prospect of a second round run off between the far left and the far right - which is causing anxiety amongst investors. 
     
    Claire spoke with David Rachline, Marine Le Pen's campaign manager who had this to say:
     
    They regularly explain the theory of the glass ceiling before the National Front actually progresses. I remember during the local elections, they told me that there was the glass ceiling and that I would not be able to win, but we won. And for the regional elections, they said we could not go over 20-22 percent in the first round because of the glass ceiling but we scored 30 percent in the first round and in some regions, we scored 45 percent in the second round. So that is the proof that there is no glass ceiling, we spend our time convincing new voters, additional voters that our project is relevant. 
     
    Comment ()
  • Turkish President Erdoğan and the ruling Justice and Development Party are in the final days of a campaign to win the support of voters to enact sweeping constitutional changes in the country's Constitutional Referendum on Sunday. The victory of a "yes" vote would effectively change Turkey's political system from a Parliamentary democracy to an executive Presidency, making Erdoğan the head of the government. He would also be granted the power to appoint ministers, pick senior judges, while Parliament's powers would be significantly weakened.
     
    Critics of Erdoğan say the President has sought to tighten his grip on power since July's failed-coup attempt. In the lead-up to the vote, tensions have also run hot among European leaders and Erdoğan after several states blocked referendum rallies from taking place. Polls opened to Turks living in Europe in March, and closed this past Sunday.
     

    All you need to know about Turkey’s referendum

    CNBCCNBC takes a look at everything you need to know ahead of Turkey's fast-approaching referendum which could prove to be the most controversial political change in a generation.
    Comment ()
  • Here are your top stories at this hour:
     
    • Trump talks down the dollar and sends it to a five-month low against the yen - The President says the currency is "too strong" and tells the Fed to keep rates low.  
    • Russia uses its veto power to prevent the UN security council from condemning the chemical attack in Syria, as Donald Trump says relations with Moscow may have hit an all-time low. 
    • Turkey gets ready to vote in a referendum on Sunday that could hand increased powers to President Erdogan, as the latest polls show 'yes' is slightly ahead. . 
    • Akzo under attack! Activist investor Elliott Advisors threatens to sue the Dutch paintmaker, as it seeks to oust the company's chairman, who opposes a takeover by PPG. 
    Comment ()
  • Carrfour says Q1 sales up 6.3 percent to 21.3 billion euros. The company says target of 3 percent to 5 percent full-year 2017 sales growth at constant exchange rates confirmed. Carrefour says french business showed good resilience, Brazil business also performed relatively well.
    Comment ()
  • Turkish citizens will head to the polls on Sunday to decide whether the country should shift from a parliamentary system to a Presidential Republic. The latest polls conducted by ANAR and Konsensus show a small majority of 51-52 percent intend to vote in favour of the constitutional changes
     
    Hadley joins us from Dubai to discuss more:
     
    At the end of the day you have to remember that what President Erdogan is looking for are bigger powers, full executive authority and this would give him abilities we haven't see in the past and basically put him in power until 2029.A lot of questions surrounding freedom of speech, freedom of expression and so on.
    Comment ()
  • Progress on Basel three has effectively been put on pause by Trump's presidency. The administration is yet to appoint a representative to the negotiating table, while President Trump has repeatedly vowed to roll back US financial regulation. But the Bundesbank is remaining patient as it seeks to get the US on board.
     
    Annette spoke with Bundesbank board member Andreas Dombret:
     

     

    With regards to Basel III we have not only agreed on many many issues but we have actually implemented most of them when we worked on Basel III in 2010. Now we are at a position when we need to finalise only one important issue and this one important issue is thinking about reliability of risk weighted assets.
     
     
     
    There is no time pressure because most of the issues of Basel III have been implemented and long been decided.
    Comment ()
  • The U.K. economy remains on solid footing despite the uncertainty following the Brexit vote. That's according to the latest survey from business lobby group the British Chambers of Commerce.
     
    It finds that both the UK services and manufacturing sectors are growing at a steady rate, but that inflationary risks could threaten this momentum.
     
    Adam Marshall, Director General, British Chambers of Commerce joins us live:
     
    Most of our businesses long before Brexit said the medium term was what they were worried about more than the short term. Our warnings remain more medium term warning.
    Comment ()
  • Here are your top headlines at this hour:
     
    • Trump talks down the dollar and sends it to a five-month low against the yen - The President says the currency is "too strong" and tells the Fed to keep rates low.  
    • Russia uses its veto power to prevent the UN security council from condemning the chemical attack in Syria, as Donald Trump says relations with Moscow may have hit an all-time low. 
    • Turkey gets ready to vote in a referendum on Sunday that could hand increased powers to President Erdogan, as the latest polls show 'yes' is slightly ahead. . 
    • Akzo under attack! Activist investor Elliott Advisors threatens to sue the Dutch paintmaker, as it seeks to oust the company's chairman, who opposes a takeover by PPG. 
       
     
     
    Comment ()
  • Germany's consumer prices, harmonised to compare with other European countries, rose by 0.1 percent in March from the previous month and jumped by 1.5 percent from the previous year, the Federal Statistics Office confirmed on Thursday.

    The March reading marked the first slowdown in annual inflation in nearly a year. In February it rose to the highest level since August 2012 and it was the first time since September 2012 that it surpassed the European Central Bank's stability target of just under 2 percent for the euro zone.
    Comment ()
  • The dollar has dropped after President Trump said America's currency was getting "too strong", with the greenback skidding to a five month low against the yen. In an interview with the Wall Street Journal, the President said he preferred the Federal Reserve to keep interest rates low, while leaving open the possibility of renominating Fed Chair Janet Yellen once her term comes to an end next year. 
     
     
     
    Comment ()
  • The dollar fell on Wednesday after President Donald Trump criticized its recent strength, but analysts expect the greenback to bounce back soon.

    Trump said the currency was "getting too strong" in an interview with The Wall Street Journal.
     
    I think our dollar is getting too strong, and partially that's my fault because people have confidence in me. But that's hurting—that will hurt ultimately, Trump told the paper.
    In the wake of the comments, the dollar index, which measures the greenback against a basket of currencies, fell as low as 100.01 in early Asia trade on Thursday, from levels above 101 earlier in the week.

    The dollar also tumbled against the safe-haven yen, fetching as little as 108.70 yen in early Asia trade Thursday, the lowest since November, down from levels above 111 yen earlier in the week.

    But analysts said the dollar weakness was temporary.

    Jim Rickards, editor of Strategic Intelligence and the author of "Currency Wars, told CNBC's "The Rundown" on Thursday that the dollar's knee-jerk drop wouldn't last long.
    Comment ()
  • European bourses are expected to open lower as investors digest U.S. President Donald Trump's comments that he would prefer the Federal Reserve to keep interest rates low and suggested the dollar is too strong.
     
     
    Comment ()
  • Germany's 10-year government bond yields hits lowest since early January. Meanwhile, Dutch 10-year government bonds hit five-month low.
    Comment ()
  • Here are your top headlines at this hour:
     
    • Trump talks down the dollar and sends it to a five-month low against the yen - The President says the currency is "too strong" and tells the Fed to keep rates low.  
    • Russia uses its veto power to prevent the UN security council from condemning the chemical attack in Syria, as Donald Trump says relations with Moscow may have hit an all-time low. 
    • Akzo under attack! Activist investor Elliott Advisors threatens to sue the Dutch paintmaker, as it seeks to oust the company's chairman, who opposes a takeover by PPG. 
    • Paper money. Sweden's SCA has reportedly recived a bid north of 22 billion dollars for its newly split-off hygiene unit
       
    Comment ()
  • Warren Buffett is paring back his stake in Wells Fargo.
     
    Berkshire Hathaway announced it is selling 9 million shares in the bank and will withdraw its application to boost its stake above 10 percent.

    Berkshire said the move wasn't due to a change in its investment outlook, but that following extensive talks it realised that increasing its ownership would "materially restrict our commercial activity" with Wells Fargo.
     
    'Becoming Warren Buffett' World Premiere - Red Carpet : News Photo
    Comment ()
  • European markets to open lower as investors digest Trump comments

    CNBCEuropean bourses are expected to open lower on Thursday morning as investors digest U.S. President Donald Trump's comments that he would prefer the Federal Reserve to keep interest rates low and suggested the dollar is too strong.
    Comment ()
  • French March CPI up 0.6 percent on month; +1.1 percent on year. French March CPI forecast was +0.6 percent on month and +1.1 percent on year.
    Comment ()
  • The hygiene arm of Swedish consumer goods company SCA has received a 22 billion dollar takeover offer from a private equity consortium, according to a Swedish press report. SCA announced plans last year to split into two separate companies, one focusing on hygiene products and the other on forestry. 
     
     
    Comment ()
  • European markets are now open for trading with the Stoxx Europe 600 opening 0.14 percent lower. 
     
     
    Comment ()
  • Major European indexes are slowly waking up to the last day of trading day this week. The indexes are trading lower this morning as investors digest comments from Donald Trump about the dollar being "too strong":
     
     
    Comment ()
  • Let's take a look at the best and the worst performing stocks this morning:
     
    Comment ()
  • The hygiene arm of Swedish consumer goods company SCA has received a 22 billion dollar takeover offer from a private equity consortium, according to a Swedish press report. SCA announced plans last year to split into two separate companies, one focusing on hygiene products and the other on forestry. 
     
     
    Comment ()
  • The battle between activist hedge fund Elliott Advisors and AkzoNobel is heating up. Elliott is threatening to take legal action against the Dutch paintmaker, if the company refuses to let shareholders vote on whether it should fire its chairman. 

    The chemical group has reported Elliott to regulators for potentially having shared price sensitive information with US rival PPG. AkzoNobel's chairman Antony Burgmans is known to have opposed PPG's attempts to acquire the Dutch paint-maker despite Elliott's public calls for engagement with the would-be acquirer.  
     
     
     
    Comment ()
  • The European trading session is being led by the retail sector, up about 0.16 percent. Meanwhile, banks are at the bottom of the Stoxx index:
     
    Comment ()
  • European markets open lower as investors digest Trump comments

    CNBCEuropean markets edged lower on Thursday as investors digested U.S. President Donald Trump's comments that he would prefer the Federal Reserve to keep interest rates low and suggested the dollar is too strong.
    Comment ()
  • Rick Lacaille, Global Chief Investment Officer, State Street joins us live on the set to discuss the global economic environment:
     
    I don't think we are into a risk off environment full throttle. In fact we are risk on. We are comfortable taking risk at the moment. 
    Comment ()
  • FXTM Chief Market Strategist Hussein Sayed comments on President Donald Trump’s recent comments and their effect on the Dollar.

    The Greenback and U.S. Treasury yields continued to fall early Thursday, after Trump’s comments to the Wall Street Journal that the dollar is getting too strong. According to the U.S. President, he’s the one to blame for this, because “people have confidence” in him. Maybe not everyone agrees, with his approval rating currently standing at 40%. More importantly, Trump said “I do like a low-interest rate policy” and that the Treasury would not be labeling China a currency manipulator. 
     
    Donald Trump has already made many U-turns after his election, but yesterday’s one is of primary concern to currency traders. During his Presidential campaign, he accused Fed Chair Janet Yellen of being “political” and “doing what Obama wants her to do”, by keeping rates at zero. He even called the high equity prices a false market, with the cost of funds being essentially free. Now, he likes a low- interest rate policy and may reappoint Yellen to a new four-year term, possibly adding more doves to voting members. However, markets still believe that the Fed will continue with the tightening process for now, with June’s 25 basis points rate hike expectations hovering steady above 60% according to CME’s FedWatch. This is likely to limit further steep losses on the USD, but overall there’s a high chance that the dollar could have already topped out for the year. 
     
     
     
     
    Comment ()
  • Here are your top news stories at this hour:
     
    • European markets are skittish after comments from President Trump send the dollar sliding, while he calls for lower rates for longer. 
    • Paper money. Sweden's SCA has reportedly recived a bid north of 22 billion dollars for its newly split-off hygiene unit, sending the shares to the stop of the Stoxx 600. 
    • Russia uses its veto power to prevent the UN security council from condemning the chemical attack in Syria, as Donald Trump says relations with Moscow may have hit an all-time low. 
    • Turkey gets ready to vote in a referendum on Sunday that could hand increased powers to President Erdogan, as the latest polls show 'yes' is slightly ahead. . 
       
    Comment ()
  • A little over 30 minutes since the start of the European trading session and stocks are trading lower as investors digest President Trump's comment on strong dollar:
     
     
    Comment ()
  • Stocks across the globe have dipped on the back of Trump's "strong dollar" comment. Let's take a look at where U.S. stocks closed on Wednesday night:
     
     
    Comment ()
  • Japan's top government spokesman Suga says FX stability is important, watching market moves with sense of urgency. Suga says won't comment on FX levels.
    Comment ()
  • Chemical weapons watchdog has sent experts to Turkey to investigate alleged Sarin attack in Syria. That's according to Reuters citing sources.
    Comment ()
  • Here are your top stories at this hour:
     
    • European markets are skittish after comments from President Trump send the dollar sliding, while he calls for lower rates for longer. 
    • Paper money. Sweden's SCA has reportedly recived a bid north of 22 billion dollars for its newly split-off hygiene unit, sending the shares to the stop of the Stoxx 600. 
    • Akzo under attack! Activist investor Elliott Advisors threatens to sue the Dutch paintmaker, as it seeks to oust the company's chairman, who opposes a takeover by PPG. 
    • Russia uses its veto power to prevent the UN security council from condemning the chemical attack in Syria, as Donald Trump says relations with Moscow may have hit an all-time low. 
       
    Comment ()
  • The International Energy Agency says it confidently believes the oil market is close to balance. In its latest report, the IEA said OPEC compliance with production cuts had been impressive so far. It warned, however, that although markets will tighten this year, non-OPEC production will soon be on the rise again. 
     
    It is now half time for the six-month oil production cuts agreed by OPEC and eleven non-OPEC countries. So far, the game has gone fairly well for producers,” the Paris-based organization said in the report published Thursday.
     
    OPEC slashed output by around 1.2 million barrels per day (b/d) from January 1 for six months in order to remove a supply glut. Eleven other non-OPEC countries, including Russia, agreed to limit supply by half as much. 
     
    For OPEC countries, compliance has been impressive from the start while non-OPEC participants are gradually increasing their compliance rate, although in their case it is harder for analysts to verify the data,” the IEA added.
     
    Comment ()
  • Oil producers have scored "fairly well" since OPEC and non-OPEC countries implemented a landmark deal to curb global oversupply at the start of the year, according to the latest monthly report by the International Energy Agency (IEA).
     

    Oil producers are winning at the half-way point of OPEC's production deal, IEA says

    CNBCOil producers have scored "fairly well" since OPEC and non-OPEC countries implemented a landmark deal to curb global oversupply at the start of the year, according to the latest monthly report by the International Energy Agency (IEA).
    Comment ()
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