World Markets Live - April 21 - CNBC Live Events
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CNBC Live Events

World Markets Live - April 21

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

  • Welcome to World Markets Live. We'll begin full blog coverage from 0600 GMT. For now, here are the opening calls for Europe.
     
    FTSE 100: 7,124 (+6.2)
    CAC 40:  5,081  (-7.7)
    DAX 30:  12,036 (+9.2)
    FTSE MIB: 19,825 (-33.8)
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  • These are the top headlines this morning.
     
    • Paris is rocked by a shooting on the Champs Elysees just days ahead of the first round of the election. One police officer is killed and two others are injured in an attack claimed by ISIS.
    • Today's campaign events are cancelled amid an international condemnation of the attack, with U.S. President Donald Trump calling it a 'terrible' assault.
    • With just 2 days to go until the polls open - the race is tightening, with German Finance Minister Wolfgang Schaueble telling CNBC exclusively he hopes French people make a rational decision.
    • IMF Managing Director Christine Lagarde also warns of the election risk if the National Front makes it through the first round.
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  • The shooting in Paris that has left a policeman dead and two others injured has been claimed by ISIS. The gunman, identified as Karim Cheurfi - a 39 year old man who lived in the outskirts of Paris, was shot and killed at the scene.
     
    President Francois Hollande has now promised the utmost vigilance during the first round of voting, taking place on Sunday. 
     
    For more on the story, click here
     
     
    by luke.graham edited by Spriha Srivastava 4/21/2017 5:02:00 AM
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  • NBC's Duncan Crawford reports from Paris on the attack.

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  • Last night's attack on Paris could sway the upcoming presidential election. The attacks as seen as potentially boosting the chances of far-right candidate Marine Le Pen.
     
    For more on this story, click here.
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  • Presidential candidate Marine Le Pen blamed the French government for allowing the last night’s attack to happen.
     
    Jean-Luc Petithuguenin, CEO of Paprec, says all the French people are sad following the attack.
     
    We don’t blame our government. You know it is so difficult to fight against Islamic fanatics and, especially because France is France, they are focused on making terrorist attacks against us, because we represent for the last 300 years the fight for freedom.
     
     
     
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  • The French election remains tight, with narrow margins between candidates.
     
    Here is a "poll of polls" showing the expected percentage of the vote the leading candidates may win during the first round voting on Sunday.
     
     
     
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  • Philips Lighting reports Q1 adjusted EBITDA of 142 million euros, versus expectations of 136 million euros.
     
    Net income for the quarter was 61 million, compared to 14 million the year before. Sales totalled 1.69 billion euros.
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  • German Chancellor Angela Merkel sent her condolences to France after the shooting in Paris, while U.S. President Donald Trump said terrorist attacks QUOTE "just never end."

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  • Philips Lighting has reported better than expected first quarter earnings, posting sales of 1.7 billion euros and net income of 61 million euros and says it is on track to further improve margins.

    Eric Rondolat, CEO of Philips Lighting, says the company is pleased with the results.
     
    We’re continuing on our 2016 improvement performance on operating margin and cash flow. So 130 basis points on the operating margin and plus 80 million on the free cash flow, and on the other hand, as previously indicated we said that we would be improving the growth profile of the company and with minus 0.8 percent in Q1 it is a substantial improvement versus the previous quarters.
     
    He says the company is continuing on its transformation journey.
     
     
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  • The Nasdaq logged a fresh record close in trade yesterday, with U.S. markets posting gains on rising earnings expectations.
     
     
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  • Meanwhile, Asian stocks improved overnight. Major steel producers in the region posted gains, despite the launch of a U.S. trade probe against China and other exporters of cheap steel into the U.S.
     
     
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  • The IMF may fund the Greek bailout for a short amount of time with a small amount of money.

    That's the latest line from the government in Athens as they try to overcome a disagreement on financing terms between the EU and IMF.

    A government spokesman said it was in discussions with the IMF over the possibility of a one year payment in a smaller bundle.
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  • IMF chief Christine Lagarde was asked about the pace of rate hikes from the Federal Reserve.

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  • Portugal's junk rating is getting harder to justify -- that's according to the country's Secretary of State for Finance. 
     
    Speaking to CNBC on the sidelines of the IMF spring meeting in Washington, he told Geoff Cutmore that Portugal has made more than just a token effort on domestic reforms.
     
    This is not smoke and mirrors. We have injected substantial amounts of money in order to repair the balance sheet of financial institutions. 
     
    Last year we have increased that, but there were funds that were necessary to recapitalize CGD at market terms, which is something that was critical for the stability of the financial system in Portugal.
     
    He added the country will soon be in a situation to reduce debts and make repayments to the IMF.
     
     
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  • Draft EU negotiating guidlines reveal that Britain will be paying off obligations to Brussels for years after Brexit.
     
    According to Reuters, other conditions include the U.K. remaining subject to EU courts and allowing relatives of European immigrants to continue settling in the U.K. 

    Meanwhile, European parliament president Antonio Tajani said Brexit could be reversed if the UK wanted to withdraw Article 50 after the general election.
     
    Tajani after his meeting with U.K. Prime Minister Theresa May.
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  • Following a meeting with Theresa May, European parliament President Antonio Tajani highlighted the EU's key Brexit sticking point. 

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  • President Trump has praised Chinese efforts to rein in what he called "the menace of North Korea".
     
    Speaking after North Korean state media warned the U.S. of a "super-mighty preemptive strike", Trump said he was confident President Xi would "try very hard" to pressure its neighbour over its nuclear programme.
     
     
    Meanwhile, Trump is set to order the Treasury to review taxes and financial reforms.
     
    A White House official said the President will issue an executive order today directing the Treasury to reduce tax regulations and re-evaluate parts of Dodd-Frank.

    Earlier, Treasury Secretary Steven Mnuchin said he is working on tax reform "day and night" and will unveil a plan "very soon".
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  • NBC News has learnt that the U.S. has deployed special "sniffer" aircraft capable of detecting a possible nuclear test. NBC's Hallie Jackson reports.

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  • President Trump announced a trade probe against China and other cheap steal exporters, citing concerns about national security. 
     
    Speaking at a White House ceremony with the executives of three major U.S. steel companies -- Trump said steel is "not an area where we can afford to become dependent on foreign countries." Shares in each of the companies saw a bump on the prospect of new tariffs on their competitors.
     
     
    Meanwhile, President Trump met with Italian Prime Minister Paolo Gentiloni at the White House ahead of next month's G7 summit in Sicily (pictured).
     
    During a joint news conference Trump reiterated his call for European countries to pay their fair share on defence. Trump also praised Gentiloni for his leadership in stabilising Libya, but said he saw no role for the U.S. there, apart from helping to defeat Islamic State.
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  • Germany's economy is likely to gather pace during the first quarter, pushing up tax revenues by more than expected, according to the finance ministry's latest report.
     
    However the findings add that political uncertainties like U.S. protectionism, Brexit negotiations and upcoming elections are clouding the country's growth outlook.
     
    German finance minister Wolfgang Schaeuble spoke to CNBC about the criticism made against his country's trade surplus.
     
    The German surplus is by no way manipulated in any way. Of course, you can say that the exchange rate of the euro in regard to the strength of the German economy is a little bit low, but we have a common monetary union and monetary policy is decided by the ECB and the ECB has to take monetary policy not only for the German economy but for 18 economies with different levels of competitiveness.
     
     
     
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  • Deutsche Bank has been fined $157 million by the Federal Reserve for alleged misdeeds on behalf of the bank's foreign exchange traders.
     
    The Fed said the German lender failed to detect traders' conversations with competitors via electronic chatrooms, and also came in violation of the Volcker rule.

    In a statement, Deutsche Bank said it was pleased to have come to an agreement with the Federal Reserve over the matter. 
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  • Here's a reminder of the top headlines this morning.
     
    • Paris is rocked by a shooting on the Champs Elysees just days ahead of the first round of the election. One police officer is killed and two others are injured in an attack claimed by ISIS.
    • Today's campaign events are cancelled amid an international condemnation of the attack, with U.S. President Donald Trump calling it a 'terrible' assault.
    • With just two days to go until the polls open - the race is tightening, with German Finance Minister Wolfgang Schaueble telling CNBC exclusively he hopes French people make a rational decision.
    • IMF Managing Director Christine Lagarde also warns of the election risk if the National Front makes it through the first round.
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  • Norway's trade balance for March was a surplus of 22.7 billion Norwegian krona, according to Statistics Norway.
     
    Imports grew 12.8 percent on the year to 57 billion krona, while exports grew 29 percent to 79.7 billion.
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  • Reporting for CNBC, Claire Fournier discussed the impact of the suspected terror attack in France on the upcoming election.
     
    Unfortunately we get a feeling of déjà vu here in France with more than 200 people having been killed since 2015 by radical Islamism and yesterday all the candidates were on TV and they used this last event on TV as a platform to say what they would do as president to fight terrorism.
     
    Here's a summary of what the presidential candidates had to say on security.
     
     
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  • CNBC’s anchors discuss the upcoming French election, including the irony that Emmanuel Macron, the current frontrunner, was behind some of the least popular proposals from the current Socialist government.

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  • José María Roldán, chairman of the Spanish Banking Association, answers whether or not the electoral agenda in Europe is actually irrelevant.
     
    Maybe we have been paying too much attention to this electoral calendar issues in the last month. 
     
    If you see what has been going out in terms of electoral results, even with Trump triumphing in the U.S., where the expectation was of unravelling of all types of programmes, the reality is that nothing has happened, neither in the economy or the markets.
     
    On the contrary, the markets got better.
     
     
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  • CNBC's Silvia Amaro has produced a summary of all the key, need to know information ahead of this weekend's French presidential election.
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  • Barack Obama spoke over the phone with centrist presidential candidate Emmanuel Macron ahead of the first round of Presidential elections.  
     
    Macron said Obama discussed about the election campaign and stressed the importance of the relationship between the two countries. A spokesman for the former U.S. president, however, said an official endorsement was not the purpose of the call.
     
    French presidential election candidate for the En Marche ! movement Emmanuel Macron
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  • In the run-up to the first round of French Presidential elections, CNBC spoke with a number of CEOs about the risks that businesses are facing.

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  • European stock market future predict a cautious open for the French, U.K. and German markets. 
     
    Friday trade will start in less than half an hour.
     
     
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  • Shanghai Electric Group reports quarterly net profit is down 3.81 percent to 485.7 million renminbi ($70.6 million)
     
    Quarterly revenue was down 15.67 percent to 13.03 billion renminbi.
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  • Vincent Juvyns, global market strategist at JP Morgan Asset Management, says anything is still possible for the French election, as the polling differences between presidential candidates are within margins of error.
     
    He also talked about the possible impact on the European Union.
     
    At this stage I still have doubt and worries about the possible weakening of the European project due to the outcome of the French presidential election.
     
    This may not be the end, but it will at least not speed up the integration process, which is highly necessary to move forward in Europe. We need to reform.
     
     
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  • Reckitt Benckiser reports Q1 results in line with expectations. The company reported first quarter revenue of £2.64 billion.
     
    Reported sales for the quarter rose 15 percent, and forecast comparable revenue growth of 3 percent in 2017.
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  • Russian retail chain Magnit reports Q1 net sales of 266.98 billion roubles. Net profits came to 7.54 billion roubles.
     
    Like for like sales were down 4.77 percent year on year, while EBITDA margin for the quarter was 7.86 percent.
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  • José María Roldán, chairman of the Spanish Banking Association, shares his thoughts on the one change he would like to see in the Eurozone.
     
    We need to recognize that when the euro was started, it was the first step to political union.
     
    I think we need to recognize that we cannot make this Eurozone project work if we don’t take further steps in terms of political integrations.
     
    However, he said there was no appetite to make these steps.
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  • European markets are now open. The Stoxx 600 is initially moving slightly to the upside at the start of Friday trade.
     
     
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  • Political risk going into the weekend is weighing on market sentiment, despite a strong performance by U.S. stocks in the previous session.
     
    These are the sectors moving the market this morning.
     
     
     
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  • French flash April composite PMI rises to 57.4, better than forecasts of 56.2 and March's reading of 56.8.
     
    Services PMI rose to 57.7 and manufacturing PMI rose to 55.1. Both were better than expectations.
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  • This is how the European bourses are performing at the start of Friday trade.
     
    Most major markets are in the green, expect for the French CAC 40. This is most likely in reaction to political risk with the upcoming election, as well as last night's suspected terror attack.
     
     
     
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  • José María Roldán, chairman of the Spanish Banking Association, says the impact of last night’s France attack is negligible in terms of market reaction.
     
    That’s positive and that’s something we need to think about. I think we freak out with these types of event, we are going to see them more frequently, it’s the world we live in, but at the same time the market reaction to these types of events is very calm, very cold and I think that’s a positive.
     
     
     
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  • Reckitt Benckiser posted a 15 percent increase in revenue in the first quarter.
     
    The British consumer goods firm, however, said like-for-like sales remained flat in Q1 due to weakness in its European and North American markets. Reckitt confirmed its full-year guidance targeting 3 percent growth.
     
    Shares in the company are moving down, falling more than 1 percent after the results.
     
     
     
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  • Danone has raised its forecast for EPS growth following the acquisition of U.S. organic good producer, WhiteWave. The French food group is now targeting double-digit recurring EPS growth and like-for-like sales growth for twenty-seventeen.

    Danone also reported a 0.7 percent rise in first-quarter underlying sales, a performance that was in line with company-compiled estimates.
     
    Shares are down more than 2 percent at the start of trade.
     
     
     
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  • Guillaume Touze, managing partner at Quadra, explains why he does not like Spanish banks.
     
    Banks, obviously they are a core part of society and having spent a fair amount of my life at Barclays I could not say differently, but I still believe it’s actually really hard to trade on banks and the sensitivity in the short term takes you away from what I think a proper manager should be doing, which is focusing on the long run.
     
     
     
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