World Markets Live - March 31 - CNBC Live Events
×

CNBC Live Events

World Markets Live - March 31

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. Happy Friday! Looks like Asian shares are trading mixed this morning while the dollar firmed up a bit on strong U.S. economic data. In Europe, the euro inches up after sliding overnight on data suggesting slowing growth in Europe. This morning, futures point to a slightly lower to a fairly flat start to the trading day. But we will keep you posted as markets open. Here are your morning calls for Europe:
     
    FTSE 100                               7348 -22
    DAX 30                                  12256 -1
    CAC 40                                  5084 -5
    FTSE MIB                             20331 -15                            
    Comment ()
  • Here are your top headlines at this hour:
     
    • Former National Security Adviser Michael Flynn agrees to testify in the Russia investigation in exchange for immunity, as President Vladimir Putin tells CNBC allegations of election meddling are 'lies'.
    • In Brussels, U.S. Secretary of State Rex Tillerson arrives for his first NATO meeting amid reports he will call for increased defense spending. 
    • South Africa's own 'night of the long knives' leaves finance minister Pravin Gordhan sacked and the Rand in free-fall after President Zuma fires him and 8 other ministers. 
    • Crude trades lower as it looks set to close its worst quarter since 2015. But one of the world's best known oil traders tells CNBC where he thinks the price is heading. 
       
    Comment ()
  • President Trump's former national security advisor, Michael Flynn has said he is willing to testify to the FBI and Congress about possible Russian links, if he is guaranteed immunity. The White House has invited Senate investigators to review classified documents related to Russian hacking and U.S. Surveillance. It's unclear what the White House wants the investigators to see and whether one top Republican was already given preferential access.
     
    Former National Security Adviser Michael Flynn
    Comment ()
  • President Trump's former national security advisor, Michael Flynn has said he is willing to testify to the FBI and Congress about possible Russian links, if he is guaranteed immunity. NBC's Blayne Alexander has more from Capitol Hill.

    Comment ()
  • Read my lips, no. The words from Russian President Vladimir Putin when Geoff Cutmore asked whether Russia was involved in U.S. election interference. Speaking at the Arctic Forum, President Putin described the allegations as 'lies'.
     
    Ronald Reagan once said to the American public during a debate about taxes. He said, 'Read my lips,'.  'No.' 
     
    Russian President Vladimir Putin attends the International Arctic Forum in Arkhangelsk : News Photo
     
    We have said on numerous occasions, and I would like to reiterate this again, we know, we aren't completely sure, but we know in all likelihood because the opinion polls in the United States indicate that Russia has a lot of friends in the United States. So, first and foremost, I would like to tell them that we perceive and regard the United States as a great power with which we want to establish good partnership relations.
    Comment ()
  • Rex Tillerson is set to attend his first NATO meeting in Brussels today. The U.S. Secretary of State is expected to press allies to step up defense spending, reiterating calls made by President Trump.
     
     
    Willem is in Brussels and spoke to Antonia Tajani, President of the European Parliament 
     
    Our position is this before the framework, the divorce and then the agreement the day after the divorce but it's impossible to speak the day after the divorce before the divorce
     
    Comment ()
  • Activity in China's manufacturing sector expanded at its fastest pace in five years in March, according to a government survey. China's official purchasing managers' index rose to 51-point-8, compared with February's reading of 51.6.
     
     
     
    Comment ()
  • The finance minister of South Africa, Pravin Gordhan has been sacked in a cabinet reshuffle. It comes after days of speculation that upset the country's stock market and currency. Mr Gordhan - who fought hard against corruption - will be replaced by the Home Affairs head, Malusi Gigaba, according to a statement issued late on Thursday by the president's office.
     
     
    Comment ()
  • Nancy takes a look at global markets on the last trading day of the month.

    Comment ()
  • French far-right candidate Marine Le Pen is neck and neck with Emanuel Macron to win the first round of Presidential elections. According to the latest Ifop poll, Macron leads the race with 26 percent of the votes, while Le Pen is slightly behind with 25.5 percent.
     
    CNBC's Claire Fournier is in Paris:
     
    What is fascinating is three weeks ahead it is very complicated to predict who is going to win. Macron and Le Pen are neck in neck but Macron is heavily criticized. Fillon believes he is the only one who can put France back on track and Le Pen believes she can break the glass ceiling.
     
     
     
    Comment ()
  • Here are your top headlines at this hour:
     
    • Former National Security Adviser Michael Flynn agrees to testify in the Russia investigation in exchange for immunity, as President Vladimir Putin tells CNBC allegations of election meddling are 'lies'.
    • In Brussels, U.S. Secretary of State Rex Tillerson arrives for his first NATO meeting amid reports he will call for increased defense spending. 
    • South Africa's own 'night of the long knives' leaves finance minister Pravin Gordhan sacked and the Rand in free-fall after President Zuma fires him and 8 other ministers. 
    • Crude trades lower as it looks set to close its worst quarter since 2015. But one of the world's best known oil traders tells CNBC where he thinks the price is heading. 
    Comment ()
  • There was a trio of speakers from the Federal Reserve over the last 24 hours. The New York Fed President William Dudley said the central bank was not expecting to sell down its mortgage-backed bond holdings.

    San Francisco Fed President John Williams said it was important the economy was kept balanced so no one was left behind and to prevent another recession. Meanwhile Dallas Fed President Robert Kaplan reiterated his call from earlier in the week for two more rate hikes this year.
    Comment ()
  • Pierre Andurand of Andurand Capital spoke to CNBC at the Investor's Choice Hedge Funds awards in London last night:
     
    Oil prices are likely to recover to about $70 a barrel so it is a bit of a out of consensus call. I don't think the market is capped up at $55 or $60. I think we can go much higher and I think the market will stick to sustainable backwardation by late summer and that will bring the next wave in oil prices.
     
     
    Comment ()
  • Danone says reaches an agreement with U.S. Department of Justice on Whitewave acquisition. Danone says as part of the agreement has decided to sell one of its U.S. Dairy subsidiaries, Stonyfield in months following closing of deal.
    Comment ()
  • Supply chain finance firm Tradeshift has integrated AI technology on its platform, as the company's valuation passes the half a billion dollar mark.
     
    Christian Lanng, CEO, Tradeshift joins us live to discuss more:
     
    We help a lot of companies in the world trade with suppliers which is all over the world. Essentially that is a very manual process, lots of staff involved. We just announced that we will introduce artificial intelligence into this process.
     
     
     We think we could become Alibaba and Amazon for the last businesses in the world.  It is all about mending their spend, everything they are buying and spending. We will think 2-3 years before going public.
    Comment ()
  • South Africa's ANC Secretary General says was "informed not consulted" by President Zuma on Cabinet reshuffle. the ANC Secretary General says majority of minister removed are those who were "performing"
     
    ANC SG says President Zuma knows that ruling party is not happy with cabinet changes.
    Comment ()
  • Here are your top headlines at this hour:
     
    • Former National Security Adviser Michael Flynn agrees to testify in the Russia investigation in exchange for immunity, as President Vladimir Putin tells CNBC allegations of election meddling are 'lies'.
    • In Brussels, U.S. Secretary of State Rex Tillerson arrives for his first NATO meeting amid reports he will call for increased defense spending. 
    • South Africa's own 'night of the long knives' leaves finance minister Pravin Gordhan sacked and the Rand in free-fall after President Zuma fires him and 8 other ministers. 
    • Crude trades lower as it looks set to close its worst quarter since 2015. But one of the world's best known oil traders tells CNBC where he thinks the price is heading. 
    Comment ()
  • UK House March House prices down 0.3 percent month/month vs February which was up 0.6 percent. 
    Comment ()
  • Ofcom announced measures designed to promote investment in new fibre networks and ensure that customers are protected from higher prices. Ofcom is proposing to maintain policy of pricing flexibility for Openreach 's fastest broadband products, including those based on BT's own network investments in full-fibre and its new G-fast technology.
    Comment ()
  • German retail sales rose more than expected on the month in February but unexpectedly dropped on the year, data showed on Friday, sending mixed signals about the health of this sector of Europe's largest economy.

    The volatile indicator, which is often subject to revision, showed retail sales increased by 1.8 percent on the month in real terms, the Federal Statistics Office said. That beat expectations for a 0.7 percent rise and followed a downwardly revised drop of 1.0 percent in January.

    On the year, shops sold 2.1 percent less in February, confounding forecasts for a 0.3 percent increase in sales.
    Comment ()
  • Markets in Europe are set to open in negative territory this morning as global investors eye a rising dollar overnight and new data that seems to suggest slowing growth in Europe.
     
     
    Comment ()
  • European markets seen lower as investors eye currency moves, data

    CNBCMarkets in Europe are set to open in negative territory on Friday as global investors eye a rising dollar overnight and fresh economic data.
    Comment ()
  • Here are your top headlines at this hour:
     
    • Former National Security Adviser Michael Flynn agrees to testify in the Russia investigation in exchange for immunity, as President Vladimir Putin tells CNBC allegations of election meddling are 'lies'.
    • In Brussels, U.S. Secretary of State Rex Tillerson arrives for his first NATO meeting amid reports he will call for increased defense spending. 
    • South Africa's own 'night of the long knives' leaves finance minister Pravin Gordhan sacked and the Rand in free-fall after President Zuma fires him and 8 other ministers. 
    • Crude trades lower as it looks set to close its worst quarter since 2015. But one of the world's best known oil traders tells CNBC where he thinks the price is heading. 
    Comment ()
  • Oil prices eased this morning as traders took profits following three days of straight gains on the expectation that an OPEC-led crude supply cut that was initially supposed to only last for the first half of the year would be extended.
     
     
     
    Comment ()
  • It's the final trading day of the quarter and Neil Dwane, global strategist and chief investment officer for equity Europe at Allianz Global Investors, thinks markets are being supported into the end of the quarter
     
    One has to recognize the fact its quarter end, there’s a lot of money at stake on the levels of the market, so I think we’ll see a fairer reflection of the confidence in the markets during next week.
    Comment ()
  • The French presidential campaign is getting bitter with Benoit Hamon saying that former Prime Minister Valls' endorsement for Macron is a blow to democracy. Meanwhile, a conservative aide said that Francois Fillon has likely been the subject of wiretapping.
     
     
    Comment ()
  • CNBC’s Gemma Acton says some clients are starting to take a longer term view and are allowing their money to stay invested.
     
    A lot of the short-term investing is done on the part of momentum trades, a lot of computer driven strategies there. 
     
    For investors who are trying to get away from that and who are worried maybe that the passive trades are overdone, they are willing to lock up for a bit longer and they are willing to go for strategies which are not necessarily so easy to replicate, so the ones that do actually require one-off situations and investing in them.
     
     
    Comment ()
  • French February producer prices down 0.2 percent month on month, +3.9 percent year on year. 
    Comment ()
  • South African President Jacob Zuma's decision to dismiss Finance Minister Pravin Gordhan has severe consequences for the economy and is a setback to the work done to avoid a credit ratings downgrade, a group of business leaders said on Friday.

    "This decision, and the manner in which it was taken, is likely to cause severe damage to an economy that is in dire need of growth and jobs," said the CEO Initiative, an organisation that includes the chief executives of Nedbank, Standard Bank, the JSE and Investec.
    Comment ()
  • The finance minister of South Africa, Pravin Gordhan has been sacked in a cabinet reshuffle. It comes after days of speculation that upset the country's stock market and currency.
     
    Bronwyn Nielsen reports from Johannesburg.
     
    We knew something was afoot when finance minister Pravin Gordhan was recalled from his international roadshow. He was in London at the time, set to meet with heavyweight investors and the rating agencies.
     
    He received a one-line statement from President Zuma saying come back and from there we’ve been anticipating a cabinet reshuffle all week.
     
    Bronwyn says the new cabinet includes several Zuma loyalists.
     
     
    Comment ()
  • European stocks are getting started for the last trading day of this quarter. The pan-European Stoxx 600 has opened slightly lower, down 0.17 percent:
     
     
    Comment ()
  • Major European indexes have opened in the negative territory with red across the board. This as investors eye a rising dollar overnight and new data that seems to suggest slowing growth in Europe.
     
     
    Comment ()
  • Let's take a look at the best and the worst performing stocks this morning:
     
    Comment ()
  • The U.S. Department of Justice has approved Danone's 10-billion dollar takeover of WhiteWave. The French multinational food company has agreed to sell its Stonyfield US yoghurt business in order to mitigate anti-trust concerns. The Danone-Whitewave tie-up is now expected to close imminently. 
     
     
    Comment ()
  • Johnson and Johnson says its 30 billion dollar acquisition of Actelion is going ahead and should close in the second quarter.  J&J plans to de-list Actelion, while the R&D unit of the Dutch company will be spun off as a separate Swiss-listed group. 
     
     
    Comment ()
  • UK telecoms regulator Ofcom has announced plans to cut the wholesale prices BT's 'OpenReach'  can charge customers for its superfast broadband service. Ofcom says the price cuts are designed to boost investment in the UK's broadband network. The development comes as BT is working to legally separate 'OpenReach' into an independent company. 
     
     
    Comment ()
  • Astrazeneca has been granted full FDA approval for its lung cancer drug Tagrisso. Separately, the British pharmaceutical group has also reached a deal Ter-Sera Therapeutics to sell prostate cancer treatment in the US and Canada. 
     
     
    Comment ()
  • Shares in Old Mutual are down more than 7 percent, leading Stoxx losers:
     
     
    Comment ()
  • Donald Tusk, the European Council President, is due to issue draft guidelines on the EU's Brexit negotiating position later this morning. The draft proposals are expected to set the tone for the forthcoming negotiations between the EU and the UK.
     
    Sir Martin Sorrell, CEO of WPP, says Brexit negotiations are going to bring “tremendous uncertainty.”
     
    All bets are off. The first hurdle is are we going to have parallel discussions on the divorce settlement and what goes on after the divorce settlement or are we going to do it sequentially?
     
    Massive issue, because effectively you’ve got 18 months, so it’s not two years. By the time we get going it’s 18 months. So, it’s extremely difficult to believe that this negoation, the mother of all negotiations, is going to get done within 18 months.
     
     
     
    Comment ()
  • Shares in South African banks extend losses after Finance Minister Pravin Gordhan removed. South African banking index down 8 percent.
    Comment ()
  • South Africa's government alliance is not in good shape after reshuffle, that's according to Reuters citing Cosatu Union spokesman.
    Comment ()
  • Let's take a look at funds with exposure to South Africa. Stocks in these companies are trading sharply lower:
     
     
    Comment ()
  • South Africa's President Jacob Zuma sacked finance minister Pravin Gordhan in a cabinet reshuffle after days of speculation that has rocked the country's markets and currency, replacing him with home affairs head Malusi Gigaba.

    A statement from the president's office just after midnight on Thursday said Zuma had also appointed Sfiso Buthelezi as Deputy Finance Minister replacing Mcebisi Jonas.

    A steep decline in the rand underlined Gordhan's reputation among investors as a guardian of policymaking stability in South Africa. 
     
    I have directed the new ministers and deputy ministers to work tirelessly with their colleagues to bring about radical socioeconomic transformation and to ensure that the promise of a better life for the poor and the working class becomes a reality, Zuma said.
    by Spriha Srivastava edited by luke.graham 3/31/2017 7:25:01 AM
    Comment ()
  • South Africa's assets are in free fall after Finance Minister Pravin Gordhan was sacked. Here's a look at the country's stock index that is trading lower:
     
     
    Comment ()
Powered by ScribbleLive Content Marketing Software Platform