World Markets Live - March 15 - CNBC Live Events
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CNBC Live Events

World Markets Live - March 15

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 Happy mid-week. A big week for macroeconomics as we wait for a Fed rate decision expected tomorrow, UK's imminent trigger of Article 50, Dutch elections and the Bank of England rate decision. Markets remain cautious ahead of these political developments. Here's a look at European futures that show a positive start to the trading day:
     
     
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  • U.S. oil prices rose more than 2 percent in early Asian trade on Wednesday, recovering from a three-month low after industry data showed a surprise drawdown in U.S. crude stockpiles.
     
     
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    Here are your top headlines at this hour:
     
    • Dutch Prime Minister Mark Rutte tells CNBC that Turkey is getting 'increasing hysterical' in its rhetoric, as he pulls ahead in the polls with voters seeking a safe pair of hands. 
    • A relief rally for oil. Crude jumps amid a surprise drawdown in U.S. stocks and a Goldman Sachs report which says OPEC is complying with output cuts.
    • China's Premier Li Keqiang says he does not want a trade war with the United States, using the closing ceremony of the National People's Congress to encourage better ties between the two nations. 
    • And: are you fed up with waiting? As the March decision for the Federal Reserve is finally upon us, we speak to key players from the world of finance about their take on the rate hike cycle. 
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  • The Dutch go to the polls today. It is an election seen as a test of anti-immigrant and nationalist feeling. The latest polls show the Prime Minister's party VDD slightly ahead of Geert Wilders' party PVV.

    Steve Sedgwick spoke to the Dutch Prime Minister Mark Rutte:

    We have to take a stance, we have to draw a line, and this is unacceptable. We will never negotiate under threat of sanctions.
     
     

    On the topic of the election, Rutte says his track record shows he has the leadership needed in a tough political landscape.
     
    I think I’ve shown over the last four years that I’m able to cobble together a group of parties of very different backgrounds and been able to form a government which is able to take the necessary decisions.
     
     




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  • he Dutch PM mark Rutte also said the main issues in the election this year have been about identity and the economy.
     
    But also how to keep this country safe and stable in an increasingly unstable world, which is my main task as prime minister.
     

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  • Steve is at The Hague and joins us live to explain the Dutch election process

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  • European stock futures point to a higher start to the day as investors eye Dutch elections and Fed rate decision expected on Thursday:
     
     
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  • China does not want to escalate a trade war with the United States. Speaking at a news conference at the closing of the country's National Congress, Premier Li Keqiang suggested he wanted to improve relations with President Trump.
     
    We don't wish to see a trade war breaking out between the two countries. That wouldn't make our trade fairer, and that hurts both economies. The whole world is concerned about China-US relations. China hopes that no matter what bumps this relationship may run into, we hope this relationship will continue to forge in the right direction. The Chinese and American people are both great peoples, we have the wisdom and capability to control our differences and expand our common interests.
     
     
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  • Sterling sees a spike this morning. It is unclear whether this is about dollar strength or pound on expectation of a hawkish tone from the Bank of England on Thursday:
     
     
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  • Oil prices have rallied from a three-month low after data showed a surprise drawdown in U.S. crude stockpiles. The rebound follows extended declines yesterday after OPEC reported a rise in global crude stocks and a surprise output increase from its biggest member, Saudi Arabia -- fuelling scepticism over compliance with production cuts.
     
    Saudi's energy ministry moved to dispel concerns, explaining that the Kingdom's crude supply fell in February despite higher output. The ministry also reiterated that Saudi Arabia remains "committed and determined to stabilising the global oil market".
     
     
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  • Saudi's Deputy Crown Prince has met with President Trump at the White House. An adviser to Prince Mohammed bin Salman called the meeting a "historical turning point" in U.S.-Saudi relations and highlighted the leaders' shared view that Iran posed a danger to regional security. The adviser added that Saudi Arabia does not view Trump's travel ban as aimed against Muslim countries or Islam.
     
     
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  • Here are your top headlines at this hour:
     
    • Dutch Prime Minister Mark Rutte tells CNBC that Turkey is getting 'increasing hysterical' in its rhetoric, as he pulls ahead in the polls with voters seeking a safe pair of hands. 
    • A relief rally for oil. Crude jumps amid a surprise drawdown in U.S. stocks and a Goldman Sachs report which says OPEC is complying with output cuts.  
    • China's Premier Li Keqiang says he does not want a trade war with the United States, using the closing ceremony of the National People's Congress to encourage better ties between the two nations. 
    • And: are you fed up with waiting? As the March decision for the Federal Reserve is finally upon us, we speak to key players from the world of finance about their take on the rate hike cycle. 
       
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  • Polls open in Dutch election. Here is a live image from the voting booth:
     
     
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  • The clean up is on-going across North Eastern America after winter storm Stella brought travel to a standstill. The so-called Nor'easter has also been blamed for at least two deaths. NBC's Chris Pollone has the latest from Massachusetts

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  • Turkish EU Affairs Minister tells Reuters Dutch investments in Turkey are not at risk due to row with Netherlands. Turkish criticism focused on Dutch government, not people or business, the EU Affairs Minister said. 
     
    Turkish Cabinet discussed broad package of sanctions against Netherlands, work being conducted on new measures. The EU Affairs Minister says does not see any reason for Turkey to maintain EU migration deal. Turkey has fulfilled its side of migration deal, EU has not kept any of its words, the minister said.
     
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  • James McCormack, Global Head of Sovereign and Supranational Ratings, Fitch Ratings joins us live to discuss the big themes in the market:
     
    There is no denying that short term growth impulse looks quite positive. People are enthusiastic about regulatory and tax reforms even though we don't have details. From a rating perspective we are focused on public finance. This week we will see the debt limit and we will keep a close eye on that.
     
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  • Jesse Groenewegen, Economist, Rabobank joins us live to discuss Dutch elections:
    The Dutch economy is doing quite well at the moment and that is also still a concern on the minds of the voters but at the same time as you said the national identity and nationalism are still very important topics. I think one of the reasons for this is voters think they have a lot to lose, they might be losing a lot when things don't go their way. 
     
     
    On some aspects most parties agree, so if you look at tax aspects most parties agree that we should be lowering marginal taxes on income, they also agree that tax on wealth should be higher. Some parties want to increase environmental tax.
     
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  • The White House says President Donald Trump paid 38 million dollars in taxes on more than 150 million dollars in income in 2005. This, after MSNBC's "Rachel Maddow" show revealed the details of his federal tax returns, which were shared with the programme by investigative journalist David Cay Johnston, a former New York Times reporter. Johnston said the documents were sent to him in the mail. 

    President Trump paid the Alternative Minimum Tax in 2005, an effective tax rate of about 25 percent. He has said he plans to abolish the A-M-T. 
     
     
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  • French magistrates have put conservative Presidential candidate Francois Fillon under formal investigation on suspicion of misuse of public funds. 
     
    CNBC's Claire Fournier asked him if he was capable of carrying on with the election:
     
    There is only one thing in democracy, Madam, it is the will of the people. It is the French people who will choose, who will decide for themselves. It is not you nor me, nor the pundits. It is the French. And it is the universal suffrage which gives the power to the ruling party‎ to govern. Only universal suffrage. And it is before universal suffrage that I stand.
     
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  • Here are your top headlines at this hour:
     
    • Dutch Prime Minister Mark Rutte tells CNBC that Turkey is getting 'increasing hysterical' in its rhetoric, as he pulls ahead in the polls with voters seeking a safe pair of hands. 
    • A relief rally for oil. Crude jumps amid a surprise drawdown in U.S. stocks and a Goldman Sachs report which says OPEC is complying with output cuts.  
    • Two pages of Donald Trump's 2005  tax returns are leaked and revealed on MSNBC, showing the president paid 38 million dollars that year. 
    • And: are you fed up with waiting? As the March decision for the Federal Reserve is finally upon us, we speak to key players from the world of finance about their take on the rate hike cycle. 
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  • Here are the top stories from World Markets Live TL;DR this morning:
     
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  • Investors see a more than 90 percent chance of the Fed hiking rates later today, according to CME Group data. The latest FOMC meeting comes against a backdrop of improving employment and inflation data.  
     
    Luis Costa, Head of CEEMEA FX and rates Strategy, Citi joins us live:
     
    You need two members to change their minds so that we can on an average price 4 hikes in 2018. It is a very slippery slope there. It is a potential hawkish risk but 60-70% content coming from the Fed is already there.
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  • Tim Adams, President and CEO, IIF joins us live to discuss the global economy:
     
    The markets are buoyant and they have priced in a tremendous amount of policy, aggressive amount of policy in the next few years. It will probably be longer than the markets have priced in. But I think its all the right thing - tax cuts, deregulation.
     
    Economic conditions are the best we have seen since the crisis. There are risks, plenty of risks but we have to take stock of the good news.
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  • Markets in Europe are set to open higher this Wednesday ahead of a Federal Reserve meeting in the U.S.
     
    Investors will be watching out for political developments in Europe with a special focus on the Netherlands, where voters will be choosing their next prime minister amid rising support for anti-establishment parties. The first exit polls are expected at 8pm London time.
     
     
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  • The British government has reduced its stake in Lloyds Banking Group to just below 3 percent, putting the lender on track to be back in private ownership within the next few months. That's according to Reuters.
     
    UK Financial Investments Limited (UKFI), which manages the government's stake, resumed share sales in October, having halted them for almost a year due to market turbulence. 
     
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  • Here are your top headlines at this hour:
     
    • Voting is underway in the Netherlands in an election widely seen as a test of anti-immigrant and nationalist feeling.
    • European futures point cautiously higher as investors prepare for a rate hike in today's highly anticipated Fed decision, while sterling swings back from a three-month low in early trade. 
    • Looking to reignite! German utility E.ON vows to ramp up cost cuts after posting a record 16 billion euro loss in 2016, more than its market value. 
    • Shoppers in emerging markets boost sales for the world's biggest clothing retailer Inditex, also helping annual net profit rise as much as 10 percent.
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  • Jacob Frenkel, Chairman, JP Morgan Chase International joins us live to discuss the big themes in the economy:
     
    I think it is important to understand why the Fed will raise rates. The reality is all the economic conditions that were put in place for Fed to raise rates and to normalise are satisfied. The economic activity in the US is now much more robust that what it was. Inflationary pressures are coming towards the 2 percent target of the Fed.
     
    What is happening in the U.S. is impacting the rest of the world and Europe. If we see a situation where Federal Reserve will continuously hike interest rates whereas Europe is lagging behind then we will see implications for the exchange rate.
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  • Germany will press G20 members to sign off on a set of principles including free trade at this week's meeting of the group's financial leaders, in what the Trump administration may perceive as a challenge to its more protectionist stance.

    In an unusual move, Germany, the host of the meeting, will stress the importance of global free trade in a document separate from the group's main communique, G20 sources said.

    The move underscores Germany's desire to rebuff any explicit U.S. demands to water down the group's commitment to free trade, as German Chancellor Angela Merkel prepares for her first meeting with President Donald Trump on Friday.
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  • Reuters is reporting that several Twitter handles - including that of Amnesty International, UNICEF USA & others - taken over by hacker group purporting to be supporter of Turkish Government.
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  • UK's Scotland Minister says there is no option for Scotland to remain in the EU as the UK leaves or for Scotland to inherit the UK's place. That's according to Reuters citing the Herald Report.
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  • Adidas expects sales in North America to increase by almost half in the next three years, predicting strong demand for its sneakers. Chief Executive Kasper Rorsted said the market presents the biggest opportunity, targeting sales of 5 billion euros by 2020.
     
    Shares in the German brand rallied last week after the group upped its sales and profit forecasts.
     
    We'll hear more from the CEO of Adidas Kasper Rorsted in an exclusive interview at 09:00 CET.
     
     
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  • European stock markets are now open for trading with the pan-European Stoxx Europe 600 opening 0.20 percent higher:
     
     
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  • Major European stocks are slowly firing up. Looks like a flash of green across the board as investors keep an eye on Dutch election and Fed rate hike:
     
     
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  • Let's take a look at the best and the worst performing stocks this morning. London-based pharma company Hikma is trading more than 6 percent higher this morning while Hennese & Mauritz are at the bottom of the Stoxx 600, down more than 3 percent:
     
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  • E.ON's full-year net loss has widened to 16 billion euros, hit by writedowns at its former power plant unit Uniper.

    The German utility announced plans to lower its debt by 20 billion euros by selling assets and cutting 1,300 jobs -- about 3 percent of its workforce. E.ON's CEO said in a statement that 2016 was a transitional year and marked a "turning point" for the company.
     
     
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  • Inditex has posted a 10 percent rise in full-year net profit , in line with forecasts, thanks to strong sales in emerging markets and a greater online presence. The world's biggest clothing retailer opened 56 stores last year in countries such as New Zealand, Vietnam and Paraguay, while launching websites in Turkey and India.
     
    The owner of Zara also made a strong start to the year, reporting a 13 percent rise in sales at constant exchange rates from February 1 to March 12.
     
     
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  • Basic Resources is up 2 percent, leading the sectoral gains in the Stoxx 600 index, followed by Oil& Gas. Meanwhile, retail is at the bottom, down 0.3 percent:
     
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  • SFR confirmed that Altice's appeal against its blocked buyout has been rejected. A spokesperson for SFR said a French court upheld the regulatory decision to block Altice's all-stock offer, dealing a blow to billionaire Patrick Drahi's consolidation plans.
     
     
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  • Kasper Rorsted, CEO of Adidas, joins us now on set. 
     
    The Adidas boss previously headed up Henkel.

    The German sportswear firm expects sales in North America to increase by almost half in the next three years, predicting strong demand for its sneakers. 

    Rorsted said the market presents the biggest opportunity, targeting sales of 5 billion euros by 2020. 

    He said the advertising strategy to the younger market was clearly different from previous years.

    It is clear that the younger consumer engages with us predominantly over the mobile device

    So the digital engagement is key for us, you don't see any TV advertising anymore. And that's why we are converting the way we do business. 

    The way we engage the consumer is through digital media and we believe in the next few years we can take our online business fro approximately 1 billion [euros] to 4 billion. 
     

    The Adidas stock has risen around 13 percent since Rorsted became CEO in October last year.  




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  • Shares of Renault are under pressure after a report from French newspaper Liberation accused the carmaker of cheating customers on emissions levels in its diesel engines. The report cited a document from the Director-General of Consumer Affairs and Law Enforcement which was sent to the public prosecutor's office. 
     
     
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  • Adidas CEO Kasper Rorsted said despite Chinese rising input costs, he didn't expect costs of the firm's trainers and clothes to rise as a result.

    Rorsted said Chinese plants today are highly automated in comparison to just a few years ago.

    He added that the growth of local demand in China remained strong.

    We saw a 30 percent growth in China last year and we really don't see any slowdown.
     
     
     
     (Photo by Christian Vierig/WireImage)
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  • Sterling is trading higher against the dollar as investors keep an eye on Brexit and the Bank of England rate decision on Thursday:
     
     
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  • EU's Tusk urges all 27 states to keep political unity in face of Brexit. That's according to Reuters.
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