World Markets Live - August 4
We’ll be updating you throughout the day with essential breaking news, data alerts, earnings reports and all the major market movements.
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Viacom shares are heading lower in extended-hours trade after the media company reported a two percent decline in its U.S. advertising revenues for the third quarter. However, the company's earnings and group revenue for the period came in above analysts' expectations.
On the investor call, the Viacom CEO said he's exploring M&A opportunities to strengthen the company and accelerate its re-positioning.
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It's jobs Friday.The market is looking for 180 thousand additions to the workforce in July after a much higher than expected 222 thousand non-farm payrolls in June. The unemployment rate is expected to have edged down to 4 point 3 percent.
Jobs report Friday: Hiring likely strong in July, but wage gains could be slight
CNBCHiring was expected to have been strong in July, but wages probably rose just modestly, as inflation remains stubbornly low. -
Here are your top stories at this hour:
- The Russia probe ramps up. US Special Counsel Robert Mueller reportedly convenes a Grand Jury to investigate links between Donald Trump's campaign and Russia.
- Asian stock markets waver amid the heightened political uncertainty. Investors also eyeing the US jobs report, which is expected to show non-farm payrolls increased by 180-thousand in July.
- Did Google want to buy Snap? A report suggests the tech giant floated an offer to buy the firm for 30 billion dollars ahead of its IPO, in an effort to beef up its social credentials.
- The two hundred million pound man! Paris St Germain signs Barcelona forward Neymar, in a deal that makes him the most expensive footballer of all time.
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Gemma caught up with Ewen Stevenson, CFO at RBS about the numbers:We are very encouraged by the results. It is the best six month results since the crisis and the best set of six months results since the first half of 2014.
We know that we still have one large issue ahead of us, the Department of Justice so if we get that settled this year then we expect that may push us into a bottom side loss. -
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Allianz says Pimco has become a "performance engine again", as the asset management business logged net inflows of 52 billion in the second quarter.
This helped the German insurer post an operating profit of 2-point-9 billion euros. Allianz also saw its solvency ratio rise to 219 percent.Dieter Wemmer, CFO, Allianz joins us live. He says in good shape on all three segments:We have improved our underwriting results by reducing the loss ratio by net net 1 percent.
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A single incident of ransomware (where a computer virus locks a user out of their device until they pay a ransom to a cybercriminal) can cost a company more than $700,000 according to research by Kaspersky Lab.However, several IT experts tell CNBC that cloud computing may provide a cheaper and better solution to cybersecurity.
How cloud computing could protect firms against ransomware attacks
Cloud computing may provide the security companies need to protect against cybercrime such as data theft, ransomware and computer hacks. -
The dollar index is at multi-month lows. It is near its lowest level since May 2016 and has lost nearly 10 percent of its value since January.The weakness is attributed to political concerns and doubt President Trump will achieve reforms to healthcare, taxes and infrastructure spending.The positive political and economic situation in Europe has also added to the pressure on the U.S. dollar.Jobs data out shortly is in focus, as it will indicate whether the Fed can start to shrink its balance sheet or raise interest rates, which would be dollar positive.
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Attorney General Sessions tells leakers "don't do it," adding the Justice Department is committed to prosecuting leakers.He says the administration has tripled the number of active leak investigations and says four people have been charged with unlawfully disclosing material or concealing contacts with foreign intelligence officers.
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European markets are now closed. The strong U.S. payrolls data boosted investor sentiment for European equities, and the sliding euro and sterling helped stocks with overseas earnings.The Stoxx gained almost 1 percent in today's session. Over the week, the index rose 1.13 percent.
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Here's a last look at U.S. markets.The Dow hit a fresh all time high earlier but has pared these gains.
The dollar is appreciating against other major currencies today, as the latest jobs data adds to expectations the Fed will shrink its balance sheet and raise rates.
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