World Markets Live - January 19 - CNBC Live Events
×

CNBC Live Events

World Markets Live - January 19

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

  • Good morning, and welcome to World Markets Live.

    We'll begin full blog coverage at 0530 GMT, with more news and guests from the World Economic Forum.

    For now, here are the opening calls for Europe from IG.

    FTSE: 7250 (+7)
    DAX: 11608 (+18)
    CAC: 4854 (+6)
    FTSE MIB: 19402 (+46)
    Comment ()
  • Donald Trump's Commerce Secretary nominee stokes the trade war fire. Wilbur Ross used his confirmation hearing in the Senate to brand China the 'most protectionist' major economy in the world. 

    The billionaire investor told Senators that the Trump administration would seek new polices to take on China's trade policies. 

    Comment ()
  • Here's how U.S. markets closed yesterday. 

    The Nasdaq and S&P broke higher, while the Dow recorded a loss, with UnitedHealth and Goldman Sachs leading the index lower.

    Comment ()
  • Anil Agarwal, chairman of Vedanta Resources, says the World Economic Forum in Davos is more exciting this year.

    They are more and more getting mature and getting the objective right. I see the people’s excitement. Every part of the world people are pouring in and especially when you see the Chinese president coming in, this makes a lot of difference.

    Comment ()
  • Anil Agarwal, chairman of Vedanta Resources, discusses commodity prices and says metal prices could rise a further 10 to 15 percent.

    There’s no new production. You see the way Trump is saying he’s going to build his infrastructure, the way India is coming up, Modi’s plan, and then what China is declaring. I see the prices is going to stand here and going  to look at another 10 to 15 percent.

    Agarwal says he sees no reason to be pessimistic over metal prices.
    Comment ()
  • Bernard Charles, CEO of Dassault Systemes, will be speaking with CNBC live from Davos shortly.

    Comment ()
  • Bernard Charles, CEO of Dassault Systemes, shares his views on Europe’s economy over recent years.

    If I look at the last two years in Europe on the number of innovation programs, it has never been as high. Look at even the sector of mobility, look at the new number of electric vehicle programs in the next five years, extremely compelling. I think there is more in Europe in terms of innovation than we think.

    Comment ()
  • Asian shares closed mixed in the last session.

    The Hang Seng and Shanghai Composite fell on liquidity concerns, while the Nikkei rose almost 1 percent on the back of the weaker Japanese yen.

    Comment ()
  • These are the top headlines this morning.

    • A CNBC Exclusive! The CEO of Deutsche Bank John Cryan refuses to rule out the need to raise more capital, but says he's comfortable with the current cushion after paying a hefty legal bill to the DOJ.
    • The boss of Total tells CNBC exclusively he welcomes the Trump administration's approach to energy but says the challenges for the sector are far from over. 
    • Donald Trump's Commerce Secretary nominee stokes the trade war fire. Wilbur Ross uses his confirmation hearing to brand China the 'most protectionist' major economy in the world. 
    • A hawkish tone from Janet Yellen as the Fed Chair warns that delaying rate rises could force the central bank to hike aggressively in the future. 
    Comment ()
  • Here are the main headlines coming from Asia, courtesy of TL;DR.


    Comment ()
  • A CNBC Exclusive! The CEO of Deutsche Bank John Cryan refuses to rule out the need to raise more capital, but says he's comfortable with the current cushion after paying a hefty legal bill to the DOJ.

    I have been in a CFO role before, so I know never to say 'never.' It remains to be seen what those [regulatory] uncertainties hold for us.



    Once we have assessed — particularly our capital position from a regulatory perspective — once we have assessed that, we will always consider how we best manage the company's resources,

    Comment ()
  • Here is our full write up of our CNBC exclusive with John Cryan

    Deutsche Bank CEO says 'never say never' on capital hike

    CNBCDeutsche Bank Chief Executive John Cryan has declined to rule out the possibility of a capital hike in the coming years.
    Comment ()
  • CNBC asked the Total CEO, Patrick Pouyanné, if Donald Trump will change the way oil companies do business in the U.S.

    I think clearly, on energy, there are plenty of specialists on energy in this government. He has strong feelings, but energy is one of the advantages of the U.S. economy. So he’s willing not to put too much regulations in order to help the investments in energy.

    So it’s good for energy companies, at least oil and gas companies.

    Comment ()
  • President-elect Donald Trump has also pledged to increase infrastructure spending to fuel economic growth. The promised spending could provide a boost to the American business of toll-road operator, Abertis.

    Francisco Reynés Massanet , the CEO of Abertis joins us live from Davos:
    We will see from tomorrow onwards what the commitment of Trump government means for infrastructure but what we can offer is a clear commitment in long term stability.


    The maintenance of infrastructure is about money and on a sustainable basis. In any country it needs to be included in the public budget and normally when you need to restrict it a bit, your expenditures goes to the maintenance side. 

    Comment ()
  • 'Putting this legacy matter behind us' -- that's how Credit Suisse described its deal with the DOJ, after agreeing to a $5.3 billion dollar settlement. 

    The lender admitted to misleading investors over the sale of mortgage backed securities in the lead up to the financial crisis.

    Shares underperformed the sector yesterday, finishing 2.5 percent lower. Here's how shares have performed so far this week.

    Comment ()
  • Coming up: we'll speak to Jes Staley, the CEO of Barclays and find out the latest on the bank's negotiations with the DOJ, as Deutsche and CS finalise their settlement. That interview is coming up at 08:20 CET.  

    Comment ()
  • Janet Yellen has given her strongest signal yet that the central bank is close to raising rates again. With inflation edging towards the central bank's 2 percent target, the Fed Chair said it "makes sense" to tighten further, and warned any delay could have disastrous consequences for the U.S. economy. 

    Meanwhile, the ECB is widely expected to keep interest rates unchanged in its first meeting of the year. This after last month's decision to extend its bond-buying programme until late 2017.

    Comment ()
  • France's Safran said on Thursday it had launched an agreed cash offer worth 29.47 euros per share for aircraft seats manufacturer Zodiac Aerospace to create the world's third largest aerospace supplier. 

    Safran, which saw a preliminary offer rejected by family-controlled Zodiac in 2010, announced the move three months after Zodiac's main rival B/E Aerospace agreed to be absorbed by Rockwell Collins and pledged a subsequent merger between Safran and Zodiac would boost earnings per share from year one.  That's according to Reuters.
    Comment ()
  • It's over an hour until the European market open, but here are the expected future values.

    Comment ()
  • The ECB is widely expected to keep interest rates unchanged in its first meeting of the year.This after last month's decision to extend its bond-buying programme until late 2017.

    We will be live for the ECB rate decision today at 13:45 CET. Stay tuned.



    Comment ()
  • One reason the ECB is expected to keep rates on hold is that inflation remains below its 2 percent target. However, the harmonised CPI measure of inflation in Europe is creeping higher (see chart below).

    Comment ()
  • Carrefour says Q4 Group sales 23.366 billion euros, up 2.9 percent like-for-like, excluding petrol. The company's like-for-like French hypermarket sales down 1.2 percent in Q4. 
    Comment ()
  • France's Safran, which manufactures aircraft engines, has made a friendly 8.5 billion dollar takeover bid for jet interior supplier Zodiac Aerospace. The merged entity would have a turnover of 21 billion euros. Speculation surrounding a Zodiac takeover has swirled recently after it issued a series of profit warnings. 

    Safran says not worried about Zodiac Aerospace recovery from industrial problems. That's according to Reuters.

    Comment ()
  • Turkcell and Ericsson have completed Turkey's first 5G test in one of the earliest trials of the new technology, at full speed, globally.

    Kaan Terzioğlu, CEO of Turkcell, explains the importance of 5G.

    On April 1st 2016, it was a moment of truth. When we turned on 4G in Turkey we had 1.5 million people on the minute. I think it was a transformation for the consumer space.

    5G is a transformation for the industrial space and I think this is the beginning of the fourth industrial revolution. This will be the platform linking billions of devices together.

    Comment ()
  • Russia's largest children's goods retailer Detsky Mir has announced plans to list on the Moscow Stock Exchange. The IPO - which could value the firm at up to 2 billion dollars - is set to be one of Russia's biggest flotations of recent years. 

    We spoke to the CEO of Sistema - which owns Detsky Mir - and asked him for the rationale behind the timing, and the location, of the listing 
    Moscow stock exchange has teamed up with the government in doing a great job in clearing up a number of obstacles in preventing foreign government from freely flowing into Moscow stock exchange and we think absolutely ample opportunity to get liquidity and valuation we need.



    Comment ()
  • Oil prices are moving higher this morning - boosted by bullish OPEC data. Its latest report showed total output declining in December following the production cut deal struck in November. 

    However, OPEC also flagged a likely rebound in US shale production, which could offset optimism about a potential rebalancing.

    Comment ()
  • We'll be joined later this morning by the CEO of Philips Lighting, Eric Rondolat.

    Comment ()
  • Renewables are a key topic at the World Economic Forum, as business leaders look to take action on climate change after Cop 21. However some analysts say that skepticism from the Trump administration could prompt a resurgence in oil and gas. 

    Ignacio Galan , the Chairman of Iberdrola joins us live from Davos to discuss his outlook for renewables:

    The law in the United States is clear. The subsidies from fossil is going to disappear in 2020.The global scenario of electricity in United States is more dependent on state and federal authority. They are trying to promote infrastructure.


    We are fully dependent on fossil fuels. There are certain limitations on gas supply from North of Africa.

    Comment ()
  • The U.K. finance minister Philip Hammond says the government wants to remain in the "economic mainstream," according to Reuters.

    Hammond, speaking at Davos, says the U.K. already has a highly competitive tax system, which it will maintain. If the U.K. cannot achieve a good deal with the EU, it will have to find other ways to keep competitive.

    Hammond adds that Britain wants to explore other options than a customs union and tariff-free trade, and wants to maintain a frictionless border system following the exit from the EU.
    Comment ()
  • Here are the top headlines at this hour:

    • The CEO of Deutsche Bank John Cryan tells me the bank can finally move on after settling with the DOJ. We speak to the boss of Barclays about his negotiations in 20 minutes. First on CNBC
    • The boss of Total tells CNBC exclusively he welcomes the Trump administration's approach to energy but says the challenges for the sector are far from over. 
    • Donald Trump's Commerce Secretary nominee stokes the trade war fire. Wilbur Ross uses his confirmation hearing to brand China the 'most protectionist' major economy in the world. 
    • A hawkish tone from Janet Yellen as the Fed Chair warns that delaying rate rises could force the central bank to hike aggressively in the future. 

    Comment ()
  • Royal Mail has issued a trading update for the first nine months of the financial year.

    The company delivered 138 million parcels in December alone. Group revenue was in line with expectations. Parcel revenue was up 3 percent with volumes up 2 percent, while total letter revenue was down 5 percent.
    Comment ()
  • Coming up on CNBC. She has been the one to watch this week, and now Theresa May addresses Davos. CNBC speaks to the U.K Prime Minister - catch that interview at 17:30 CET. 

    Comment ()
  • We've been asking industry executives at Davos what they expect from the oil market this year.

    Comment ()
  • Eurostoxx 50 futures up 0.3 percent, DAX Futures up 0.3 percent, CAC40 futures up 0.2 percent and FTSE Futures up 0.2 percent. DAX futures on our chart below is taking a little extra time to wake up. Can't blame, it's Thursday!





    Comment ()
  • Philips Lighting overtook Germany's Osram to become the world's largest independent lighting maker, following the spin-off from its Dutch parent company. 

    It enjoyed an impressive stock market debut in May last year, when shares soared 8 percent in one day. Since the IPO, the stock has held onto almost 6 percent of the initial surge.

    Eric Rondolat, CEO of Philips Lighting, discusses how technology is affecting the lighting industry.

    The technology has only revealed a very minor aspect of its potential moving forward. In Q4, we have been supplying in Jakarta 90,000 streetlights fully connected to a backbone software system that is on the cloud.

    Can you imagine in Jakarta the before and the after with the new lights? Safer, that is lighting the city in a better way with less accidents.

    Here's a chart of the company's share price performance since its IPO.

    by luke.graham edited by Spriha Srivastava 1/19/2017 7:13:02 AM
    Comment ()
  • Yields on Eurozone debt is on the rise this morning, climbing around 3-5 basis points. 10-year government bond debt yields from Finland and the Netherlands hit a one-month high.

    Comment ()
  • One European bank that has yet to reach a settlement with the Department of Justice over the sale of toxic mortgage-backed securities ahead of the financial crisis is Barclays. The bank says the US' authorities claims are "disconnected from the facts."

    Jes Staley, CEO of Barclays joins us live from Davos to discuss the health of the European banking sector and his bank's performance:

    The banks need to atone for the mistakes transgressions made going into the financial crisis and Barclays is prepared to pay the price. In our view the price has to be fair. We have all seen the settlement US banks reached with the DOJ.

    Barclays is almost done with the restructuring of the bank. We will finish that in 2017 and we are definitely looking forward. We think we had a productive 2016 and we will deal with the DOJ issue over time and we will be fine.

    Comment ()
  • Later today, CNBC will be hosting a banking panel at the World Economic Forum at 11am CET featuring the bosses of Bank of America, Lloyd's, JP Morgan Asset Management, UBS and VTB.

    Comment ()
  • Jes Staley, CEO of Barclays joins us live from Davos to discuss the banking sector:

    I don't think using money to attract talent is a very good idea. You will clearly not get anywhere with the culture that you want. We need to compensate our people for performance but if we go back to the days of using money to attract people it is a bad culture.



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

    • The boss of Barclays tells CNBC why the bank has refused to settle with the DOJ over the miss-selling of mortgage-backed securites but admits banks have to pay for their wrongdoing 
    • A CNBC Exclusive! The CEO of Deutsche Bank John Cryan refuses to rule out the need to raise more capital, but says he's comfortable with the current cushion after paying a hefty legal bill to the DOJ.
    • The boss of Total tells CNBC exclusively he welcomes the Trump administration's approach to energy but says the challenges for the sector are far from over. 
    • Ready to take off!  France's Safran agrees to buy Zodiac Aerospace for 9 billion dollars in a move that would create the world's third largest aerospace supplier.  
    Comment ()
  • London Mayor Sadiq Khan shared his reaction to Theresa May’s plans for Brexit.

    What we’re trying to do is impress upon our prime minister the importance of privileged access to a single market. She said warm words about the importance of a single market and I accept the case that the British public have voted to leave the European Union, to leave the structures and the legal institutions.

    What the British public haven’t done is vote to make us poorer.

    Comment ()
  • London Mayor Sadiq Khan discusses the problem of populism.

    We’ve got to accept… there is a rise of populism across the world. USA we saw it recently, France, the U.K.

    In my view, the EU vote, the Brexit vote, was a proxy for the frustrations that people have, the middle class have, the fact that they are not sharing the fruits of globalisation.

    We need to make sure that we do a far better job in them getting the benefits of globalisation or we’ll get a lot more of populism rising.
    Comment ()
  • by luke.graham edited by Spriha Srivastava 1/19/2017 7:51:13 AM
    Comment ()
  • The European postal sector continues to consolidate, accelerated by a recent deal between Deutsche Post and U.K Mail. 

    Frank Appel,  the CEO of Deutsche Post DHL joins us live from Davos to discuss the top stories:

    I think we will see a solid year this year. Our express business is doing fine. I think we are in a robust situation at the moment. 

    Digitization is a huge opportunity. The Western world has suffered and digitization will provide opportunity to increase productivity. 


    Comment ()
  • GlaxoSmithKline said on Thursday that Abbas Hussain, its global head of pharmaceuticals, is leaving the company and will be replaced by Luke Miels from AstraZeneca.

    Hussain had been seen as a potential contender to take over from Chief Executive Andrew Witty, who steps down at the end of March, but the job went to GSK's consumer health division boss Emma Walmsley. 
    Comment ()
Powered by ScribbleLive Content Marketing Software Platform