World Markets Live - April 24 - CNBC Live Events
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World Markets Live - April 24

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

  • Emmanuel Macron and Marine Le Pen have won the first round of the French Presidential election, in one of the most tightly run races in decades. Macron won 23.75 percent of the vote, to Le Pen's 21.53 percentm according to the final figures.
     
    Francois Fillon and Jean-Luc Melenchon failed to make it through to the second round, winning around 19 percent of the vote each.
     
    The far-left candidate said he wasn't ready to throw his weight behind either Macron or Le Pen, while Fillon urged supporters to back the centrist. 
     
     
    Comment ()
  • Welcome to World Markets Live. We'll begin full blog coverage from 0600 BST.
     
    For now, here are the opening calls for European markets.
     
    Comment ()
  • These are the top headlines this morning.
     
    • Emmanuel Macron and Marine Le Pen make it through to the second round of the French Presidential election, with the centrist candidate saying he has changed the face of French politics, while his far-right rival calls on patriots to back her.
    • The euro bounces and futures point higher as the markets breathe a sigh of relief. Francois Fillon and Benoit Hamon say they will vote for Macron, while European leaders also throw their weight behind the Europhile.
    • China's President Xi Jinping calls President Trump to urge all parties to exercise restraint over North Korea as Pyongyang warns it is ready to strike a U.S. aircraft carrier.
    • The CEO of Lafarge Holcim will reportedly step down after an investigation into a plant in Syria, which is alleged to have paid protection money to armed groups.
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  • The euro is making gains against world currencies following Emmanuel Macron's win in the European elections.
     
    The common currency went as high as $1.094, a five-month high, earlier on.
     
     
     
     
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  • Philips reports Q1 net income of 259 million euros, compared to 37 million in Q1 2016.
     
    EBIT came to 348 million, compared to 199 million euros in Q1 last year. The compa ny says outlook for 2017 remains unchanged, with further expected operational improvements and comparable sales growth in the year ahead.
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  • Emmanuel Macron and Marine Le Pen have won the first round of the French Presidential election, in one of the most tightly run races in decades. 
     
    Macron edged ahead of Le Pen with almost 24 percent of the vote.
     
     
    Comment ()
  • Speaking at his election rally in Paris, Centrist candidate Macron said he is ready to become the next President.

    Comment ()
  • Michael O'Sullivan, chief investment officer for international wealth management at Credit Suisse Private Bank, says people will interpret the French vote as an optimistic vote and shares his thoughts on the market reaction.
     
    I’m pleased for France and I think for the young people it’s a good result. He hasn’t just won just yet. 
     
    We’ve gone into this being overweight European equities and I think most people will follow. I think investors are looking to take money out of the U.S. Traders will also be pushing the euro up this morning.
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  • The French election was a tightly contested race going into the first round. Here are the results for the top four candidates.
     
     
     
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  • Net income at Philips has risen to 259 million euros, helped by solid sales growth in its Health Tech portfolio in particular.
     
    Frans van Houten, CEO of Philips, discusses the company’s latest results.
     
    We believe that 4 to 6 percent growth guidance is wide enough. We aim for 100 basis point profit improvement for this year. We started the year in the health care portfolio with 80, so we are well positioned for the year.
     
     
     
    Comment ()
  • Frans van Houten, CEO of Philips, says the first quarter was very active for the company, with the launch of several innovations.
     
    He also shared an update on the FDA’s investigation Philips defibrillators. The regulator ordered a recall of 47000 defibrillators earlier this year.
     
    Not a lot of news is available and therefore I cannot really tell you when exactly we’ll come to a conclusion, but I’d like to remind everybody that this is a relatively small business and therefore we think it will be an overseeable impact.
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  • Let's take a look at how Asian markets are performing. 
     
    The Japanese Nikkei is up more than 1 percent on the retreating yen. Meanwhile, the Shanghai Composite fell more than 1.5 percent after state media signalled Beijing would tolerate more market volatility, according to Reuters.
     
     
     
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  • This is how far-right leader Marine Le Pen reacted following the French election result. She called herself the candidate of the people.

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  • CNBC’s Steve Sedgwick shares his concerns about the result of the French presidential election.
     
    As far as I can see, Macron doesn’t represent something completely different for France. I know he’s got his own party, En Marche, but he’s very much part of the French educational, political and business establishment, as well.
     
    Without the backing of a parliamentary party, Steve questions how Macron would be able to achieve meaningful reform through France.
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  • Philippe Gudin de Vallerin, chief European economist at Barclays, says there’s a big chance for France’s economy to gain traction with Macron.
     
    He has a very capable programme in terms of economic reforms, which is clearly a sort-of break from the past. He gives the priority to the reform of the labour market. There has been a try during Hollande, but it was very soft reform. I think Emmanuel Macron wants to go forward with this reform and that’s really key because the labour market in France is too fragmented and too rigid.
     
     
     
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  • LafargeHolcim CEO Eric Olsen will resign in July. This despite the company's board concluding he was not responsible for any wrongdoing in relation to the cement maker's activities in Syria.
     
    The company revealed last month that it paid protection money to armed groups in Syria in order to keep its local factory running.

    LafargeHolcim did find that members of group management were aware that violations had taken place.
    Comment ()
  • Becton Dickinson is set to acquire Bard in a $24 billion cash and stock deal. The offer by the U.S. medical equipment supplier values the healthcare technologies company at $317 dollars per share.
     
    Bard's CEO Tim Ring said he was confident the agreement would deliver "meaningful benefits for customers and patients."
    Comment ()
  • Swiss newspaper Sonntags Zeitung says Credit Suisse will not decide on how it will raise fresh capital until after its annual general meeting this week. 

    The report adds that the bank is considering either a share sale or a 20 to 30 percent listing of its Swiss business in order to raise between 3 to 6 billion Swiss francs. 
     
    Comment ()
  • Speaking at the IMF conference in Washington, UBS Chairman Axel Weber answered whether it was time for European banks to stop thinking about cost reduction and start thinking about real growth.
     
    It’s never good to have a one sided strategy that’s just focused on costs. You have to also gear your bank to be the bank of the future. So a balanced strategy of reducing costs on the one side, but also recalibrating your bank to a business model that holds in a post crisis world is very important.
     
     
     
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  • House prices in London have suffered their biggest monthly fall in 8 years. That's according to new data from Rightmove which shows a 1.5 percent drop in April from the same month in 2016, that's the worst decline since May 2009.
     
    This comes as property prices in the rest of the U.K. hit a record high, rising over 1 percent in April.
    Comment ()
  • These are the top headlines this hour.
     
    • Emmanuel Macron and Marine Le Pen make it through to the second round of the French Presidential election, with the centrist candidate saying he has changed the face of French politics, while his far-right rival calls on patriots to back her.
    • The euro bounces and futures point higher as the markets breathe a sigh of relief. Francois Fillon and Benoit Hamon say they will vote for Macron, while European leaders also throw their weight behind the Europhile.
    • The CEO of LafargeHolcim steps down amid an investigation into improper payments at its Syria plant, despite a review finding no wrong-doing on his part.
    • Philips keeps its 2017 guidance unchanged despite a jump in earnings and income in the first quarter. The CEO tells this show the company is well positioned for the year ahead.
    Comment ()
  • CNBC's Wilfred Frost shares a piece of analysis from Charles Gave from before the election result on what to expect in the second round of the French elections.
     
    He predicted around 40 percent of the electorate will back Marine Le Pen. Meanwhile, Emmanuel Macron may win just 33 percent.
    Comment ()
  • French government bond futures rise 144 ticks to 149.48 following the result of the French presidential election.
     
    Meanwhile, the gap between 10-year French and German debt narrowed to 58 basis points from 62 basis points on Friday.
     
     
    Comment ()
  • The French CAC 40 is called sharply higher this morning, according to future values. 
     
    CAC futures are currently up around 4 percent. Earlier, they went  up by more than 5 percent, as markets cheer the success of Emmanuel Macron leading the first round of the French presidential election.
     
     
     
    Comment ()
  • Tim Graf, head of macro strategy at State Street Global Markets, discusses the spread between French and German debt, which is narrowing this morning.
     
    The spread between OATs and German bunds has been a reflection of politics for the last six months really and we’ve seen them widen out as far as 85 to 90 basis points. 
     
    And now you’re taking that back and now they can trade more in lockstep potentially, with some spread, albeit not at the heights that we’ve seen of late.
     
    Graf adds that fixed income looks very challenged this year and it's not worth owning European paper.
     
     
     
    Comment ()
  • The yield on U.S. 10-year debt is up almost 8 basis points on the news of Emmanuel Macron winning the most votes in the first round of the French presidential election.
     
    Markets are cheering the fact a "nightmare scenario" second round run-off between the far-right and far-left candidates has been avoided.
     
     
    Comment ()
  • Chinese President Xi Jinping has told U.S. President Donald Trump in a phone call that he hopes both the U.S. and North Korea show restraint and that both sides should avoid doing anything to heighten tensions.
     
    The call followed North Korea's warning over the weekend that it is ready to sink a U.S. aircraft carrier heading to the region.  
     
    Earlier -- President Trump spoke with Japanese Prime Minister Shinzo Abe who said he appreciated Trump's stance of showing all options are on the table.
     
     
    Meanwhile, more than half of Americans disapprove of the job President Trump is doing. This, according to a new poll from NBC News and the Wall Street Journal.
     
    40 percent approve of President Trump's performance as her near 100 days in office compared to 54 percent who disapprove. One bright spot in the survey surrounded President Trump's missile strike on a Syrian government airfield - 60 percent said they backed this decision. 
    Comment ()
  • The euro is enjoying its best daily climb against the dollar since last June as markets cheer the result of the French presidential election.
     
    The single currency is around its strongest level since last Novembers, according to Bloomberg data.
     
     
    Comment ()
  • This week, the President and Congress will face a critical test as the budget showdown looms. NBC's Kelly O'Donnell has the latest.

    Comment ()
  • Broader European markets are also being called higher as markets breath a sigh of relief that centrist candidate Emmanuel Macron made it into the second round of the European election.
     
     
    Comment ()
  • Laurence Haim, spokesperson for En Marche and Marcon, says the party is responsible.
     
    We want to make sure that each citizen of France understands that we are taking what happened tonight in  a very responsible way and that’s very important.
     
    Celebration is for next time in two weeks. For now, this is the end of Act One and we want to make sure that we go on and fight for democracy in the next two weeks.
     
     
     
    Comment ()
  • Huw Pill, chief European economist at Goldman Sachs, answers whether or not Emmanuel Macron will deliver meaningful reform
     
    He’s not the first president or presidential candidate who’s come with a liberalization agenda. There are some challenges to the implementation of that agenda. 
     
    We’ve still got the second round of the election… in two weeks’ time, although our view is consistent with things you’ve already said this morning, which would be that given the polls and given the support he seems to be receiving from the other center-right and socialist candidates who are now out of the running, he will proceed to win the election.
     
     
     
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  • Euro zone money markets are pricing in a higher chance of an ECB interest rate rise in early 2018 after the French election results showed centrist candidate Emmanuel Macron going through to the second-round of the French presidential election.
     
    The euro is climbing today as well, around 5 and a half month highs to the dollar.
     
     
    Comment ()
  • Tele2 reports Q1 revenue of 7.88 billion Swedish krona, beating analyst expectations of 7.67 billion krona. EBITDA came to 1.72 billion krona.
     
    The company said its 2017 financial guidance was unchanged.
    Comment ()
  • Fashion brand Jimmy Choo has announced it is considering a formal sale process as part of a strategic review to maximise shareholder value. The luxury retailer confirmed it discussed the decision with its majority shareholder JAB Luxury, which it said was supportive of the move. 

    The British firm said it has not yet received any offers. 
    Comment ()
  • Barclays analysts Francois Cabau and Philippe Gudin share their views on the results of the French presidential election.
     
    Today's result, if confirmed, highlights the upset but also the fragmentation of the French political landscape with neither of the two historical establishment parties represented in the second round, but with four political forces almost equally distributed gathering 80 percent of the votes.
     
    Looking beyond the second round, as we have stated previously, we believe the Parliamentary elections will carry more weight than usual, possibly even more than the Presidential election, but the outcome remains uncertain.
     
    Comment ()
  • European markets are now open, jumping up strongly following the result of the French presidential election.
     
     
     
    Comment ()
  • French banking stocks are recording double digit gains at the open of trade. Investors are cheering the result of the French election, which avoided the "worst-case scenario" of far-right Marine Le Pen running against far-left candidate Jean-Luc Mélenchon in the second round.
     
     
    Comment ()
  • The French CAC 40 index is up around 4 percent at the open, as centrist Emmanuel Macron enters the second round of the presidential run-off.
     
     
    Comment ()
  • CNBC's Steve Sedgwick discusses the potential problems with President Trump’s tax reform proposals, which are expected this week.
     
    The tax bill, if there’s no VAT in there because it’s political unpalatable or internationally unpalatable, and there’s no money coming in from the reform of health care, we’re talking about increasing the debt here aren’t we?
     
    We’re talking about increasing by a significant percentage point the national debt of the United States and getting worse over a five year period.
    Comment ()
  • CNBC spoke to to LafargeHolcim's CEO Eric Olsen in March after the company's earnings and asked him about the Syria investigations.
     
    Olsen is stepping down amid an investigation into improper payments at its Syria plant, despite a review finding no wrong-doing on his part. 
     
    We took the accusations seriously, we did an independent study, we got the preliminary findings from the independent study and what you see is us taking the necessary actions to address the findings from the study.
     
    This is good corporate governance, excellent corporate governance and we’ll take all the necessary measures to address the situation.
     
     
     
    Comment ()
  • Karen Olney, head of thematic equity strategy at UBS, shares her view on European equities in light of Macron winning the most votes in the French presidential elections.
     
    The first thing to say is you’ve had a huge political premium in U.S. valuations and massive political discount in European valuations, which is why the ETF fund flow gap was at a record of 10 percent of assets under management between U.S. and Europe.
     
    So we just came back from America last week and we said we’re not going to buy in case Le Pen gets in and wins, but I think Macron winning and having the other parties come forward and say we’ll back him takes a huge downside risk out of markets.
     
    However, Olney said she is not sure about the upside risk, such as how long it lasts and how far it goes.
     
     
    Comment ()
  • Tele2 has beaten expectations to report first quarter profits of 425 million crowns, while net sales hit 7.9 billion crowns. 

    Keeping its 2017 guidance unchanged, the Swedish telecoms operator added that customer intake in the Netherlands had shrunk, lowering its expansion costs. This as price competition in the country intensified. 
     
    Tele2 shares spiked nearly 5 percent today on the results.
     
     
    Comment ()
  • These are the top headlines following the market open.
     
    • The French election result sparks a rally across Europe, sending bank shares higher after Emmanuel Macron goes through to the second round with a comfortable lead over Marine Le Pen. 
    • The CAC outperforms in Paris and the spread between the French and German 10 year yields shrinks as investors breath a sigh of relief. 
    • Philips keeps its 2017 guidance unchanged despite a jump in earnings and income in the first quarter. The CEO tells this show the company is well positioned for the year ahead.
    • Jimmy Choo puts its best foot forward, rallying in London, after the luxury shoe maker puts itself up for sale - looking for a seller that fits.  
    Comment ()
  • CNBC's Karen Tso is reporting from Paris today, bringing us the latest news following the French presidential election, as well as taking in the sights of the city.
    Comment ()
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