World Markets Live - December 20 - CNBC Live Events
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CNBC Live Events

World Markets Live - December 20

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. How's the week looking for you? The mood is not very happy in Europe after 12 people were killed and another 50 injured in Berlin's Christmas market attack. We will bring you the latest through the day. But first, here are your morning calls for Europe from IG:

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  • Here are your headlines at this hour:

    • 12 are left dead and almost 50 are injured after a truck ploughs into crowds at a busy Christmas market in Berlin, in what police are calling an intentional attack. 
    • A despicable provocation. Vladimir Putin says the murder of the Russian ambassador in Ankara was a terrorist plot aimed at destroying the 2 countries' attempts to reach a solution for Syria. 
    • A man opens fire on people praying in a Zurich mosque, injuring 3. But the motive for the attack remains unclear. 
    • The Department of Justice will demand between 5 and 7 billion dollars in fines from Credit Suisse, according to a Reuters report which says the bank continues to hope for a better solution. 
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  • NBC's Hans Nichols tells us more about the attacks at a busy Christmas market in Berlin on Monday evening.

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  • Turkish president Tayyip Erdogan and his Russian counterpart Vladimir Putin have agreed to ramp up co-operation in fighting terrorism. This follows the killing of the Russian ambassador in Ankara by a gunman identified as an off-duty Turkish police officer. We warn viewers, you may find some of the images in the report from NBC's Richard Engel disturbing.

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  • U.S. Embassy in Turkish capital Ankara says missions will be closed in Ankara, Istanbul and Adana after firearm discharged in front of embassy in Ankara overnight. That's according to Reuters. 
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  • Three men were wounded in Switzerland's financial capital of Zurich on Monday night after a gunman opened fire on people praying inside a mosque, according to Swiss police. 

    The attack took place just after 5:30pm near the main train station. Authorities said the suspect was around 30 years old wearing dark clothing and fled the mosque right after the attack but the motive remains unclear. A body was later found nearby, but police wouldn't comment on any link with the incident. 

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  • The US Department of Justice has reportedly asked Credit Suisse to pay a fine of between 5 to 7 billion dollars in a bid to settle an investigation into the bank's sale of toxic mortgage securities. 

    This is according to Reuters, which quotes people familiar with the matter, saying the bank has resisted settling for the proposed amount. Credit Suisse CEO Tidjane Thiam met with US Attorney General Loretta Lynch last week, a sign that the negotiations may be reaching its final stages. 

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  • The U.S. dollar made gains after Fed Chair Janet Yellen told college graduates they are entering the strongest U.S. jobs market in a decade. 

    Speaking to the graduating class at the University of Baltimore, Yellen said job creation is strong, wage growth is picking up and there are more openings. But she cautioned that the economy still faces weak productivity and low growth. The Fed Chair stayed away from any mention of monetary policy. 

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  • Mary Pieterse-Bloem, Global Head of Fixed Income at ABN AMRO Private Bank joins us live. Mary is also an Assistant Professor in Finance at the Erasmus School of Economics. 

    We put the centre of gravity in our portfolio with European Investment grade. That's where it has been and that's where it will stay. The European Central Bank is still extending its corporate purchase program. We are also putting a bit of that into high yield because America first agenda of Trump is very good for high yield. But we said goodbye for instance to emerging market debt because with stronger dollar things are becoming a little bit difficult for emerging market.

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  • Here are your top headlines at this hour:

    • 12 are left dead and almost 50 are injured after a truck ploughs into crowds at a busy Christmas market in Berlin, in what police are calling an intentional attack. 
    • A despicable provocation. Vladimir Putin says the murder of the Russian ambassador in Ankara was a terrorist plot aimed at destroying the 2 countries' attempts to reach a solution for Syria. 
    • A man opens fire on people praying in a Zurich mosque, injuring 3. But the motive for the attack remains unclear. 
    • The Department of Justice will demand between 5 and 7 billion dollars in fines from Credit Suisse, according to a Reuters report which says the bank continues to hope for a better solution. 

    Comment ()
  • Turkish president Tayyip Erdogan and his Russian counterpart Vladimir Putin have agreed to ramp up co-operation in fighting terrorism. This follows the killing of the Russian ambassador in Ankara by a gunman identified as an off-duty Turkish police officer. 


    The U.S. Embassy in the Turkish capital has said its missions in Ankara, Istanbul and Adana will be closed following the incident.

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  • The BOJ has kept monetary policy unchanged and offered a more optimistic view on next year's growth outlook.

    Bank of Japan Governor Kuroda says Japan's economy continues moderate recovery trend
    . He says inflation expectations in weakening phase. 

    BOJ's Kuroda also says that the bank will adjust policy as needed to maintain momentum towards price stability target. 

    We will keep an eye on the press conference and will bring you the latest.
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  • Emerging risks to global growth are likely to outweigh the long-dated, and uncertain, benefits stemming from a potential fiscal stimulus program in the United States. That's according to Haitong Securities, which sees recent commodity price strength as a profit taking opportunity. 

    Andrew Keen, Senior Analyst and Head of Resources at Haitong joins us live to discuss the trends in mining majors:
    For Rio, I think it has got the best balance sheet in the sector. The issue is around all of them we have about 9 percent supply growth in the industry and not a lot of demand so they are going to have a lot of these headwinds in the first quarter or so. Rio I don't think is very mispriced. 


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  • European markets look a bit soggy this morning as futures point to a weaker start to the trading day:

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  • Missed the headlines this morning? Here are your top stories this morning:


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  • Here's Karen's article on when to spot the right time to get into commodities. Click on the link below to take a read:


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  • Donald Trump has secured his official victory in the Presidential election, defeating Hillary Clinton in U.S. Electoral College. Mr Trump won more than 270 electoral votes, the required threshold to take office on 20th January. 

    The vote, which is normally just a formality, saw the highest number of faithless electors in over a century. However more Democrats than Republicans voted out of line, pointing to political fractures in America. 

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  • IMF Managing Director Christine Lagarde won't face punishment and will keep her job, despite being convicted of negligence charges relating to a state payment made during her time as French finance minister in 2008.  

    The court ruled that Ms Lagarde failed to contest an award of 400 million euros to billionaire tycoon Bernard Tapie, which equated to a misuse of public funds. However the lead judge decided against sentencing owing to her strong international reputation. along with her preoccupation with the global financial crisis. Speaking after the verdict, Ms Lagarde said she won't be making an appeal. 


    I have been held negligent but without penalty, without sanction, without registration of the decision. I am not satisfied with it, but there's a point in time when one has to just stop, turn the page, move on and continue to work with those who have put their trust in me. So, I'm very happy to not appeal this decision and to focus all my attention, all my time, all my efforts, all my energy and enthusiasm to my mission as head of the IMF.
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  • This Christmas shopping season, expectations on spending are the highest since the recessionary period, thanks to the boost from online shopping hitting critical scale. That's according to our next guest, who has forecast the top luxury retail trends this holiday season.

    Beth Pickens, Managing Director, Global consumer and luxury at William Blair joins us live to discuss the trends in luxury market.

    What you are seeing if you are in the stores right now is a little bit of an inventory built between a gap in the shopping cycle when we won't be able to fulfill online before the Christmas holiday so as you can see we are peaking through Q4 before 24th or 25th of December. 

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  • The Bank of Japan kept monetary policy steady and took a more upbeat view of the economy on Tuesday, reinforcing market expectations that its future policy direction could be an increase - not a cut - in interest rates. 

    Following are comments from BOJ Governor Haruhiko Kuroda at his post-meeting news conference:

    The BOJ's ETF buying is part of its QQE framework and helps to push down risk premium. It's not aimed at manipulating stock prices to a particular level. Our ETF buying is a necessary step to achieve 2 percent inflation ... As for the outlook, we will take an appropriate action by looking at economic, price and financial developments.

    On the impact of yen falls on inflation:

    In general, a weak yen directly pushes up prices through a rise in import costs. In the long run, it also affects prices indirectly through (a narrowing of the) output gap and inflation expectations.

    We will reflect these market developments and their impact on the economy and price outlook at our next policy meeting. They will be taken into account in our semi-annual outlook report in January.
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  • At least 12 dead and 50 injured in truck incident at Berlin Christmas market

    CNBCThe truck careered into the Berlin market at what would have been one of the most crowded times for the Christmas market.
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  • Lloyds Banking Group announces that it has agreed to acquire MBNA from Bank of America for £1.9 billion. That's according to Reuters.
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  • Italy's bank rescue fund Atlante has decided to go ahead with its purchase of bad loans from the struggling Italian lender Banca Monte dei Paschi di Siena. 

    BMPS shares closed yesterday's trade more than 10 percent lower, after news emerged that the Altante fund had expressed 'deep reservations' over the terms of a loan offered to the bank. However, the fund clarified on Monday evening that it would still proceed with its planned investment in BMPS. 

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  • Our guest host Ewen Cameron Watt, Senior Director at BlackRock talks about the trends in European banks:

    I think if you look at Deutsche Bank, what John Cryan is doing is trying to lead a very very long march back to a sustainable model. They have got through a lot of harder stuff but there are still many many mountains ahead. If Deutsche Bank bank don't make it, forget European banks as a whole.

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  • If you are just joining us, here are your headlines with CNBC's Karen Tso

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  • Lamborghini has launched its latest supercar the Aventador S. It's an enhanced version of its flagship model which was initially unveiled in 2010.

    The Aventador S has a V12 engine boasting 740 horse power and a top speed of 217 miles an hour.


    Stefano Domenicali, CEO of Lamborghini joins us live to discuss more:
    Great shape, great continuation of a story that started in 2011. This product is an amazing success. our customers are young people who are looking to get into the car and enjoy.


    We are in a world where the value of the car is the value of the brand. In this moment we don't have to talk about the great technological skills of this car because it is fantastic. The value of our brand is incredible and growing and the success is to make sure what we offer in the market is what our customer wants.Delete
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  • Lloyds has agreed to buy U.K. consumer credit card business MBNA from Bank of America for 1 point 9 billion pounds in cash. 

    The British lender said the deal will be funded through organic capital generation. . It includes 800 million pounds of acquired equity and assumes 240 million pounds for future PPI claims. Lloyds said the acquisition presents an opportunity for cost synergies of around 100 million pounds and is expected to close in the first half of 2017. 


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  • European markets look a bit soggy this morning as futures point to a weaker start to the trading day:

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  • European stocks are open for trading but it looks like the market sentiment is not very positive today. The Stoxx Europe 600 is slowly opening up, fairly flat, up 0.03 percent:

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  • Major European stocks open in negative territory as security risk remains a concern for investors. Here's a look at the stocks across the board:
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  • Travel and leisure stocks struggle as multiple attacks in Europe pose security concerns for investors:

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  • Here's a look at the best and the worst performing stocks this morning:

     
     

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  • Mike Bell, Global Market Strategist at JP Morgan talks about gold and why it is not as attractive now:

    We think gold is a currency with a zero yield that you can't print. So interest rate rises are now on the table and we are in an environment where everyone thought we will be lower for longer and now everyone is starting to see rate rises in 2017 and 2018 and in that environment gold looks less attractive on a relative basis.

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  • Telecoms are leading the European stocks sector this morning, followed by media stocks. Meanwhile, tech stocks are the worst performing:

     
     

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  • Here are your top stories at this hour:

    • German police describe the Christmas market attack as a 'probable terrorist incident' after 12 are left day and almost 50 people are injured by a truck that ploughed into a crowd last night. 
    • Mediaset soars to the top of the Stoxx 600 after French conglomerate Vivendi says it will raise its stake in the media group to 30 percent. 
    • Cash for credit. Lloyds agrees to buy Bank of America's UK consumer credit card business MBNA for 1.9 billion pounds in cash.
    • Clearing the way. The LSE is in exclusive talks to sell LCH Clearnet to Euronext, but a deal will be dependent on its merger with Deutsche Borse.
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  • Otso Iho, Senior Analyst at IHS Jane's Terrorism and Insurgency Centre joins us on the phone to analyse the Berlin attacks:


    It is still very early stages so we are still waiting to hear what the Police are telling us about the identification of the suspect. Initial thoughts are such kind of vehicle attacks are not really new in Europe. One thing the Berlin attack has established is that the ease with which such kind of low capability tactics really be used to cause mass casualties and we are probably going to see more of such tactics in Europe.Delete

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  • There's less than a month to go until the World Economic Forum, when economic and political leaders will gather in Davos, Switzerland to discuss the key issues for the global economy in 2017.

    Feike Sijbesma, CEO of DSM joins us live to preview:
    In Davos you have business leaders, political leaders, NGOs, academic leaders and what people try and do is synchronize a little bit. What I see in the last couple of years, inclusive capitalism or capital change and a lot of actions were synchronized. 


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  • The U.S. dollar made gains after Fed Chair Janet Yellen told college graduates they are entering the strongest U.S. jobs market in a decade. 

    Speaking to the graduating class at the University of Baltimore, Yellen said job creation is strong, wage growth is picking up and there are more openings. But she cautioned that the economy still faces weak productivity and low growth. The Fed Chair stayed away from any mention of monetary policy. 

    Comment ()

  • Comment ()
  • Here are your top stories at this hour:

    • 12 are dead and almost 50 injured after a truck ploughs into crowds at a busy Christmas market in Berlin, in what police are calling an intentional attack. 
    • A despicable provocation. Vladimir Putin says the murder of the Russian ambassador in Ankara was a terrorist plot aimed at destroying the 2 countries' attempts to reach a solution for Syria. 
    • Mediaset soars to the top of the Stoxx 600 after French conglomerate Vivendi says it will raise its stake in the media group to 30 percent. 
    • Cash for credit. Lloyds agrees to buy Bank of America's UK consumer credit card business MBNA for 1.9 billion pounds in cash.

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  • Russia's Putin sends condolences to Germany over Berlin attack, says shocked by its violence and cynicism. That's according to Reuters citing RIA
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  • A little over an hour since the start of the European trading session and stocks across the board are trying to hold gains, while FTSE 100 is in negative territory. 

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  • Turkish president Tayyip Erdogan and his Russian counterpart Vladimir Putin have agreed to ramp up co-operation in fighting terrorism. This follows the killing of the Russian ambassador in Ankara by a gunman identified as an off-duty Turkish police officer.

    NBC News' Chief Foreign Correspondent Richard Engel joins us from Istanbul to tell us the latest.

    Comment ()
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