World Markets Live - March 14 - CNBC Live Events
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CNBC Live Events

World Markets Live - March 14

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

  • As we get underway, here are our top stories:

    • The Brexit ball is in her court. Prime Minister Theresa May wins the right to trigger Article 50 after Parliament backs the Brexit Bill, sending sterling lower in early trade. 
    • But Scotland's First Minister throws a spanner in the works, demanding another independence vote, which the Prime Minister says is 'unacceptable' right now. 
    • Dutch divisions run deep during a TV debate where Prime Minister Mark Rutte and Gert Wilders trade jabs over immigration, as the spat with Turkey escalates. 
    • German Chancellor Angela Merkel delays her visit to the White House as a blizzard bears down on the Northeast coast, with up to 20 inches of snow forecast to fall.

    Comment ()
  • Sterling is edging lower after the UK parliament backed the so-called 'Brexit Bill', clearing the way for the government to begin formal exit negotiations.  
     
    Theresa May had been widely tipped to trigger Article 50 in coming days, however, the government is now indicating that she will hold off until later this month. 
     
    The mixed messages from Theresa May's government come as it faces fresh calls for a second Scottish Independence referendum. 
     
    Nicola Sturgeon, the leader of the Scottish National Party, is petitioning for the vote to take place in either late 2018 or early 2019.  Prime Minister Theresa May has so far avoided saying whether or not she would grant permission for the referendum. 
     
    However, she was highly critical of the Scottish administration for the timing of its announcement:
     
    The evidence is that the Scottish people, the majority of the Scottish people, do not want a second independence referendum. So instead of playing politics with the future of our country, the Scottish government should focus on delivering good government and public services for the people of Scotland. Politics is not a game.
     
    Comment ()
  • Theresa May has said that the majority of Scots do not want a referendum. She may be right but it is a very slim majority according to recent polling. There does seem to be a large number of people in Scotland who do want a referendum

    Sterling squeezing slightly lower in session.



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  • Baroness Verma, Chairman of the EU External Affairs Sub-Committee is on set arguing that the Scottish referendum won't benefit the wider United Kingdom or indeed Scotland.

    Without any sense of apparent irony, she says Europe must recognize the U.K. as a proper partner while at the same time Scotland should respect the need to come together with the wider U.K. in its dealings with Brussels.

    Baroness Verma: Wants the U.K. to come together

    This referendum that the SNP is wanting or expecting to have really doesnt help the negotiations. And it really doesn't help the rest of the United Kingdom, or the Scottish people either.
     
     
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  • Sterling taking another leg down as investors digest the ongoing uncertainty in the United Kingdom.


    In Europe, the FTSE 100 is seen 1 point lower at 7,368; the French CAC is expected 2 points higher at 5,006, and the German DAX is set to begin 7 points higher at 12,002.

    Comment ()
  • Winter storm Stella has caused Chancellor Angela Merkel to delay her plans to travel to the United States after the White House asked her to postpone her trip. 

    President Donald Trump called the German Chancellor while she was on her way to the airport, to head to her first meeting with the new President. The White House later issued a statement saying the visit would be rescheduled for Friday. 

    Meanwhile, 14 million Americans would lose health insurance in the coming year under the Republican plan to replace Obamacare. This, according to a report from the non-partisan Congressional Budget Office, which also suggests that number would rise to 24 million by 2026. 

    NBC News' Blayne Alexander has the latest from Washington. Click play to hear it.

    by david.reid

    The CBO analysis also estimates that the so-called American Healthcare Act would shave off approximately 337 billion dollars from the federal deficit in the coming years. 
    Comment ()
  • Turkey says it is imposing sanctions on the Netherlands. The measures include a ban on the Dutch ambassador and diplomatic flights from the Netherlands, but will not include a ban on Dutch tourists or any economic sanctions. 

    The suspension of high-level diplomatic relations are a direct retaliation after Dutch authorities prevented its ministers from speaking at rallies of expatriate Turks.

    Meanwhile, Dutch Prime Minister Mark Rutte and far-right candidate Geert Wilders went head-to-head in a debate last night ahead of tomorrow's national election.

    Immigration dominated the debate and Wilders accused Rutte of allowing people to come into the Netherlands and ignore the Dutch way of life.

    But the fifth column that now exists in the Netherlands, of people who don't want to integrate, who disregard our norms and values, who want to rule us and spit on us, they surfaced due to politicians like Mark Rutte.
     
     

    But Prime Minister Rutte countered that Wilders policies were not realistic.

    And then he comes with another plan: He wants to remove Qurans door-to-door. I still don't understand how you want to execute this. I'm very curious which 'Quran police' will have to do this?
     

    If you have time head over to this article to read about why the election has managed, to some extent, avoid the influence of internet spread "fake news".


    Comment ()
  • Investors are gathering in Wolfsburg, Germany today for VW's annual meeting where the automaker will announce its earnings for 2016.

    Preliminary results indicated VW brought in record underlying profit for the year, however operating profit missed expectations, dragged down by charges related to the carmaker's diesel emissions scandal. 

    Nancy will speak to the company CFO at around 11:30 London time, after the company's full detailed report is released.


    Comment ()
  • China's industrial output grew faster than expected in the first two months of 2017 with a 6.3 percent rise year on year. 

    Fixed asset investment also exceeded expectations, inching up almost 9 percent in January and February.

    Adrian Mowat, Chief Emerging Market and Asia Strategist at J.P. Morgan says Chinese stimulus is continuing and many factories are now making money.

    Mowat: Chinese growth will be a positive surprise this year 

    Mowat says there is a story of free cash flow and debt repayment improving and the banks will likely be re-rated positively on that.
    Comment ()
  • A reminder of our top stories:

    • Sterling sinks as British Prime Minister Theresa May wins the right to trigger Article 50, but Scotland's First Minister spoils the mood with demand for another independence referendum. 
    • Dutch divisions run deep during a TV debate where Prime Minister Mark Rutte and Gert Wilders trade jabs over immigration, as the spat with Turkey escalates.
    • German Chancellor Angela Merkel delays her visit to the White House as a blizzard bears down on the Northeast coast, with up to 20 inches of snow forecast to fall.
    • Shares in RWE power up in pre-market trade, boosted by speculation of a bid for its network business Innogy and the German utility's raised guidance for 2017.
    Comment ()
  • German inflation has come in confirmed at 2.2 percent year-on-year in February. 

    Housing, alcohol, and cigarettes all pushing prices up.

    On a month-on-month basis the figure is confirmed as 0.6 percent.
    Comment ()
  • Antofagasta has reported full year revenues of $3.62 billion.  The pretax profit came through at $284.6 million 

    Iván Arriagada, CEO of Antofagasta said the outlook for copper is favorable but the company needs to continue working on costs.

    Iván Arriagada, CEO of Antofagasta 

    Arriagada said the London-listed copper miner wants to achieve $140 million of savings this year.
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  • Another slip for sterling this morning.

    European traders pushing some fresh selling action after relatively mild action during Asian trade.



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  • A reminder that U.S. stocks traded in a narrow range Monday. 

    There was a slight decline in oil prices while higher Treasury yields had little effect on stocks. 

    Health care stocks lagged given some focus on CBO analysis of Republican proposal to repeal and replace Obamacare, which was released just around the close. 

    How U.S. markets closed Monday 




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  • Markets in Europe are seen mostly higher this morning as investors digest political events across the continent and look ahead to a rate decision by the U.S. Federal Reserve.
     
     
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  • The Dutch election takes place tomorrow. The support for the far right PVV candidate Geert Wilders has ben slipping.

    Existing Prime Minister Mark Rutte is in the lead but the fragmentation of support across the country is enormous and some form of coalition could take months to achieve.


    Comment ()
  • There seems to be some activity in the euro zone fixed income markets. Italian 10-year bond yields highest since July 2015. Meanwhile, the Spanish 10-year bond yields hit highest since November 2015 and the German 10-year bond yields top 0.50 percent for first time in 14 months.
     
     
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  • A tricky line to walk for Farage. 

    He want's the U.K. to be self-determining but also believes the constituents of the U.K. should be ruled from Westminster.

    In essence, Farage believes Westminster and Edinburgh rule will be better for Scotland than a combination of Brussels and Edinburgh.

    He claims Scotland's finances are "worse than Greece's" so it would be hard for them to join Europe.


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  • European markets are to open in 10 minutes. Futures suggest a slight bias to buying from traders in European stocks.



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  • Sterling slipped 0.7 percent to its lowest level against the dollar in eight weeks, as some investors turned nervous over a second Scottish independence referendum and the triggering of formal Brexit negotiations.

    Prime Minister Theresa May on Monday won the right to launch divorce proceedings with the EU, beginning two years of talks that will shape the future of Britain and Europe.
     
     
     
     
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  • European markets are now open for trading with the pan-European Stoxx 600 opening 0.09 percent lower. 
     
     
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  • Major European indexes are now open for trading and we can see mixed signals across the board this morning as investors keep an eye on a number of key events this week:
     
     
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  • Investors are gathering in Wolfsburg, Germany today for VW's annual meeting where the automaker will announce its earnings for 2016. 

    Preliminary results indicated VW brought in record underlying profit for the year, however, operating profit missed expectations, dragged down by charges related to the carmaker's diesel emissions scandal. 

    Shares this morning just ticking up slightly. VW shares have recovered a fair bit of ground since 'Dieselgate'. 


    Arndt Ellinhorst is with Nancy in Wolfsburg at the VW presentation.

    He says today's meeting is less about full year earnings add more about a "mission critical" effort to reveal how a turnaround can be executed for the VW brand.



    He says the management will also be keen to exhibit control of the company after recent reports of fighting with unions.

    Ellinghorst is overweight VW as he sees it as holding massive potential.

    If they just bring back cost ratios to 4 or 5 years ago they would save some 20 billion euros. 

    The company has been mismanaged for almost a decade from a cost perspective.
     

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  • Let's take a look at the best and the worst performing stocks this morning. Shares in RWE are up more than 6 percent this morning. Meanwhile, Polymetal is at the top of the worst performing stocks, down more than 2 percent.
     
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  • RWE is refusing to comment on market speculation that French firm Engie is mulling a bid for its networks and renewables unit Innogy. However, the German utility is saying that it could consider reducing the size of its stake in the company. RWE has also revised up its profit target for the year ahead. It now sees net profits for 2017 at between 1 and 1.3 billion euros.
     
     
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  • The Stoxx Europe banking index started looking up a bit last week after ECB Mario Draghi took on a slightly hawkish tone on monetary policy. Analysts have said that the clarity around Brexit might be good news for banks:
     
     
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  • 2016 profits at Antofagasta rose more than nearly 79 percent to 1.63 billion dollars. The Chilean miner said it expected prices to improve in the year ahead, and declared a final dividend of 15 cents a share. 

    The company's CEO told this programme he was focused on delivering shareholder returns. 
     
     
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  • Alan McIntosh, Chief Investment Strategist, Quilter Cheviot has joined Geoff on the set along with guest host Myles Bradshaw, Head of Global Agg Fixed Income, Amundi.

    He says we are nowhere near raising interest rates in Europe or Japan and that the global macro scene is still very accommodative for stocks.

    With all of the major economies growing there is a logic that undervalued sectors could do well.
     

    McIntosh says equities can stay at very elevated levels and the 5-year outlook for bonds doesn't look that healthy.
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  • Would a rise in U.S. interest rates mean stocks could slip as accommodation is removed? Not if recent history is anything to go by.

    Click or tap on an arrow to see how the like of oil and gold has fared.

     
     

    1 of 2



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  • Entrepreneurs and investors are watching Snap's IPO for signs of what it means for the next wave of tech firms going public. CNBC's Julia Boorstin has been looking at how start-ups have been changing their strategy at South By Southwest.

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  •  
    We all know that an independent Scotland would be a tough place to operate. The oil price has fallen, we talk about large debt-to-GDP ratios, budget deficits.

    However, as we all know that the motives of people voting are not always based on economics.
     
     

    Alan McIntosh, Chief Investment Strategist at Quilter Cheviot highlights that the Scottish independence argument won't be simply about economics.

    McIntosh, a Scot, says whether Scotland remains a part of the U.K.or not, isn't necessarily too damaging for the rest of the United Kingdom.

    McIntosh says there remain many overseas companies who see Britain as a good place to do business.




    Comment ()
  • Here are your top headlines at this hour:
     
    • Sterling sinks to an 8 week low as British Prime Minister Theresa May wins the right to trigger Article 50, and Scotlands First Minister demands another independence referendum. 
    • Dutch divisions run deep during a TV debate where Prime Minister Mark Rutte and Gert Wilders trade jabs over immigration, as the spat with Turkey escalates. 
    • Shares in RWE power up at the market open, boosted by speculation of a bid for its network business Innogy and the German utility's raised guidance for 2017.
    • German Chancellor Angela Merkel delays her visit to the White House as a blizzard bears down on the Northeast coast, with up to 20 inches of snow forecast to fall. 
    Comment ()
  • Crude oil prices hover near three-month lows this morning, with investors waiting for key reports and data that may shed light on a supply overhang in the global market.
     
    Prices fell sharply last week as investors worried that swelling U.S. crude supplies would hinder OPEC's efforts to restrict output and reduce a global glut.
     
     
    Comment ()
  • After 30 minutes of trade, Karen outlines how the sterling sell-off is benefiting the FTSE 100.

    by david.reid

    Comment ()
  • UK's FTSE 100 is trading slightly higher this morning and as Karen explained in the video below the sell-off in sterling is helping this trade:
     
     
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  • Several U.S. governors have declared states of emergency as the Northeast of America braces for Storm Stella. Thousands of flights have already been cancelled, while schools and offices have been closed, as millions in the region prepare for the worst.
     
    NBC's Jay Gray is in New York
     
    Very severe winds and that is going to continue throughout the day. We are going to see the snowfall from early this morning to early this evening. We are in a state of emergency and there is blizzard warning in New York city as well. 
     
     
     
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  • The Netherlands takes to the polls tomorrow with 28 political parties vying for votes.

    Wouter Koolmees, MP for Financial Affairs and a member of the Dutch political party D66 is with Steve in Rotterdam.

    He says the country has always been a European country and he senses an anti-populist backlash.

    78 percent of Dutch people want to stay in Europe. 
     
     
    Steve does Rotterdam

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  • A little under an hour since the start of the European trading session and a lot of mixed signal across the board. FTSE 100 is trading higher helped by the sell-off in sterling while other European indexes remain cautious ahead of political developments in the region:
     
     
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  • Prudential says its total assets under management have increased by 8 percent. In its full-year results, the company says it's also on course to achieve its 2017 financial objectives.

    Mike Wells, CEO of Prudential is on set and says cash generation has been led by Asia and there has been particularly good growth in China.

    It is a market where there is a structural demand which is very much satisfied by the private sector. The primary focus of a Chinese consumer is wealth protection.
     
     
     Wells says he believes regulation in the U.S., once a headwind is now turning into a tailwind.

     Mike Wells, CEO of Prudential 

    Wells says the U.K. business is doing well as British people recognize the need to manage their own retirement

    Comment ()
  • Here are your top headlines at this hour:
     
    • All clear! The UK parliament paves the way for Theresa May to pull the Article 50 trigger but sterling slumps to an 8 week low as Scotland's First Minister demands another independence referendum. 
    • Dutch divisions run deep during a TV debate where Prime Minister Mark Rutte and Gert Wilders trade jabs over immigration, as the spat with Turkey escalates. 
    • Shares in RWE power up at the market open, boosted by speculation of a bid for its network business Innogy and the German utility's raised guidance for 2017.
    • German Chancellor Angela Merkel delays her visit to the White House as a blizzard bears down on the Northeast coast, with up to 20 inches of snow forecast to fall. 
       
    Comment ()
  • Volkswagen 2016 operating profit 1.87 billion euros vs 2.10 billion a year-ago, 1.8 percent margin vs 2.0. VW CEO says group is capable of shouldering costs of dieselgate. Shares in VW are trading lower this morning:
     
     
    Comment ()
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