World Markets Live - May 15 - CNBC Live Events
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CNBC Live Events

World Markets Live - May 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 watchers. Did you have a good weekend? Well, we are back again with the live blog this morning. The WannaCry cyberattack on Friday and its impact over the weekend has been the biggest story and is set to drive stocks. We will follow markets open at 8 to see how this is impacting European stocks. But first, let's take a look at European futures this morning:
     
    FTSE 100       7442   +16
    DAX 30         12797   +34
    CAC40           5414   +20
    FTSE MIB     21645   +105
     
    Comment ()
  • Here are your top stories at this hour:
     
    • 200 thousand computers in 150 countries are infected by the WannaCry cyberattack and officials warn another 1 point 3 million are vulnerable amid fears a second wave could cause more chaos. 
    • Shares in Chinese cyber-security firms spike - trading limit up, as safe haven assets catch a bid across the market from the yen, to gold to U.S. treasuries. 
    • Crude jumps in early trade after Saudi Arabia and Russia agree to extend oil output cuts into March next year, saying they will do 'whatever it takes' to re-balance the market. 
    • Political upset in Germany after Angela Merkel's CDU takes the SPD stronghold of North Rhine Westphalia, delivering a significant blow to the campaign of Martin Schultz ahead of September's general election. 
       
    Comment ()
  • Shares in Chinese cybersecurity stocks have surged following Friday's cyber attack which crippled more than 200 thousand computers in 150 countries. 
     
    Security officials are scrambling to find out who is behind the "Ransomware" worm, which struck hospitals and businesses, and is believed to have been stolen from the US's National Security Agency. Speaking on ITV's Peston on Sunday, Europol Director Rob Wainright said the devastation of the virus was unprecedented.
     
    Europol's director Robert Wainwright told ITV they had never seen anything like this:
     
    At Europol we are running around 200 global operations against cyber crime each year. But we've never seen anything like this, we've seen the rise of ransomware becoming the principle cyber threat I think. But this is something we haven't seen before. The global reach is unprecedented. The latest count is at over 200,000 victims in at least 150 countries. And those victims, many of those will be businesses including large corporations. We've seen FedEx in America.
    Comment ()
  • Cyberattack’s impact could worsen when companies, workers turn on computers on Monday

    CNBCMany workers, particularly in Asia, had logged off on Friday before the malicious software began proliferating, The New York Times reports.
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  •  
    Greg Sim, CEO, Glasswall Solutions joins us live to analyse the WannaCry cyberattack:
     
    The problem that most of these organisations have is that the technology that they put in place is sometimes actually quite outdated. You got to remember that the type of technologies to counter these kind of attacks are very much reactionary technologies meaning they must be able to identify first of all the stream of code that really makes up the attack or the weapon. That can be a window of vulnerability from hours, days, months. It is very difficult for these organisations with that type of approach to counter these attacks.
     
     
     
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  • North Korea has launched what it called a new type of ballistic missile on Sunday.

    U.S. and South Korean military officials said the missile flew around 430 miles before crashing into the Sea of Japan, around 60 miles south of Russia's Vladivostok region.

    The launch comes days after the election of a new president in South Korea, who has proposed a policy of engagement with Pyongyang.
     
    NKOREA-POLITICS : News Photo
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  • Xi Jinping has called on major institutions to join his Belt and Road Initiative. Addressing leaders at a summit in Beijing, the Chinese President said it was necessary to reject protectionism and work together to achieve "win-win" results.
     

    China pledges more than $100 billion for its global investment push

    CNBC"China will endeavor to build a win-win business partnership with other countries participating in the Belt and Road Initiative," said President Xi.
    Comment ()
  • Here are your top stories at this hour:
     
    • 200 thousand computers in 150 countries are infected by the WannaCry cyber attack and officials warn another 1 point 3 million are vulnerable amid fears a second wave could cause more chaos. 
    • Shares in Chinese cyber-security firms spike - trading limit up, as safe haven assets catch a bid across the market from the yen, to gold to U.S. treasuries. 
    • Crude jumps in early trade after Saudi Arabia and Russia agree to extend oil output cuts into March next year, saying they will do 'whatever it takes' to re-balance the market. 
    • Political upset in Germany after Angela Merkel's CDU takes the SPD stronghold of North Rhine Westphalia, delivering a significant blow to the campaign of Martin Schultz ahead of September's general election. 
       
    Comment ()
  • Let's take a quick look at markets this morning with Karen

    Comment ()
  • Today marks the first full day of President Macron's five-year term, after he was sworn into office on Sunday. In his inaugural address he promised to free up France's labour market and to support the country's most innovative companies
     

    Macron takes power as president of France; pledges to overcome division in society

    CNBCCentrist Emmanuel Macron took power as president of France on Sunday in a sumptuous inauguration ceremony in the Elysee Palace.
    Comment ()
  • European equity funds saw record inflows totalling 6-point-1 billion dollars in the days after Emmanuel Macron's election win, according to data from EPFR. Meanwhile Bank of America Merrill Lynch analysts argue that flows into European equities have the potential to increase further in coming months
     
    Comment ()
  • The United States is nearing a 100 billion dollar deal to sell arms to Saudi Arabia, as President Trump prepares prepares to visit Riyadh this week. 
     
    CNBC spoke with the Lebanese central bank governor Riad Salameh:
     
    We are worried, we only have now knowledge of a draft and the difference is that this time we need to get in contact at the level of country as a whole because amendments are involving more targets which can be a problem for us in Lebanon and our banking system. The government is going to put up a strategy to communicate with the US and explain sensitivity of such a law.
     
     
     
    Comment ()
  • Here are your top stories at this hour:
     
    200 thousand computers in 150 countries are infected by the WannaCry cyber attack and officials warn another 1 point 3 million are vulnerable amid fears a second wave could cause more chaos. 
    Shares in Chinese cyber-security firms spike - trading limit up, as safe haven assets catch a bid across the market from the yen, to gold to U.S. treasuries. 
    Crude jumps in early trade after Saudi Arabia and Russia agree to extend oil output cuts into March next year, saying they will do 'whatever it takes' to re-balance the market. 
    Political upset in Germany after Angela Merkel's CDU takes the SPD stronghold of North Rhine Westphalia, delivering a significant blow to the campaign of Martin Schultz ahead of September's general election. 
     
    Comment ()
  • TUI Group turnover 3.2 billion euros, up 7.9 percent at constant currency. The company's Q2 underlying EBIDTA loss 177.7 million euros at constant currency vs year-ago loss 126 million euros.
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  • Bilfinger has attributed its first quarter loss of 14 million euros to sluggish demand in the energy and utility sectors. However, the industrial services provider has confirmed its full year guidance and expects its adjusted EBITDA margin to improve over the course of 2017. 
     
    Joining us on the phone from Mannheim is Tom Blades, CEO, Bilfinger:
     
    We are well on our way. We sold a large part of the business so we are down 40,000 in terms of our headcount. We are well on track, well on our way and the costs are coming down as you can see in the results.
    Comment ()
  • European markets are poised to open higher Monday as investors look beyond global cybersecurity threats and the latest North Korean missile test.
     
     
    Comment ()
  • Here are your top stories at this hour:
     
    • 200 thousand computers in 150 countries are infected by the WannaCry cyber attack and officials warn another 1 point 3 million are vulnerable amid fears a second wave could cause more chaos. 
    • Crude jumps in early trade after Saudi Arabia and Russia agree to extend oil output cuts into March next year, saying they will do 'whatever it takes' to re-balance the market. 
    • RWE shares are called to open higher as cost cuts and improved efficiency help power the German utility to a first quarter beat.
    • Political upset in Germany after Angela Merkel's CDU takes the SPD stronghold of North Rhine Westphalia, delivering a significant blow to the campaign of Martin Schultz ahead of September's general election. 
    Comment ()
  • Early indications show the FTSE 100 is on track to open at a new record high. It posted a record closing high on Friday and is currently looking to surpass its record intraday level of 7447.
     
    Dean Turner, Economist, UBS Wealth Management CIO, our guest host this morning, explains that this is an earnings story:
     
    It is more about earnings in this sector and if we look at the earnings forecast for FTSE this year, we are in for a pretty good time. But that is because we are coming off very weak numbers. I think that is going to be the story going forward.
     
    Clearly the performance we saw in FTSE last year and the fall in the pound can be explained, the giveback we have seen but I do think there is an underlying earnings story going on here. A lot of cost and capacity has been taken out in the sector and that is something that should drive earnings forward this year.
     
     
     
    Comment ()
  • French government cyber security agency ANSSI said on Monday carmaker Renault was not the only entity hit by the ransomware cyber attack at the end of last week and warned of other possible attacks soon.

    "There are others," Guillaume Poupard, head of the agency, ANSSI, said. The government body was working with the victims on recovery.

    Businesses around the world scrambled on Saturday to prepare for a renewed cyber attack, convinced that a lull in a computer offensive that has stopped car factories, hospitals, schools and other organizations in around 100 countries was only temporary.
    Comment ()
  • It's set to be a busy first day in office for French President Emmanuel Macron. He's expected to name his pick for prime minister and visit German Chancellor Angela Merkel in Berlin.
     
    Reporting for CNBC from Paris, Claire Fournier discusses who is likely to be chosen.
     
    It will probably be a prime minister from Les Republicains, the right-wing party, and there is a favourite, his name is Edouard Philippe. Three days ago he was completely unknown by the French people.
     
    Edouard Philippe was a spokesperson for Alain Juppe, the right-wing candidate for the primary before he was defeated  by Francois Fillon, and Edouard Philippe is the symbol of renewal that Macron wants to show.
     
     
     
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  • Dean Turner, economist at UBS Wealth Management CIO, explains why he is optimistic about the French economy for the next six to nine months.
     
    Clearly the parliamentary elections are key. However, at least in the short term, he (Macron) should be able to get through a number of reforms that build on the good momentum that we’ve already got on the French economy.
     
    He adds that if Macron doesn't have the support of parliament, he will struggle to rule by decree.
     
     
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  • European markets are now open for trading with the pan-European Stoxx 600 opening slightly higher this morning:
     
     
    Comment ()
  • Let's take a look at major European indexes this morning as investors look beyond global cybersecurity threats and the latest North Korean missile test.
     
     
    Comment ()
  • Oil prices jump 2 percent as energy ministers of the world's two biggest producers Saudi Arabia and Russia jointly said that a crude production cut would be extended from the middle of this year until March 2018.
     
     
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  • Let's take a look at the best and the worst performing stocks this morning:
     
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  • Discussing the recent wave of cyberattacks, James Butterfill, head of research & investment strategy at ETF Securities, says the number of incidents are rising at a significant rate.
     
    We have a cybersecurity fund, so we are thinking about statistics in cybersecurity all the time, so if you think Mydoom virus, as an example, came out about four years ago. It’s cost the world today about $38 billion. So, it’s becoming a big industry.
     
    Cybersecurity incidents are rising 66 percent every year, have been since 2009, so it’s becoming a serious issue. If you add up all the estimates of how much they’ve cost the world it’s between $500 to $600 billion. That’s 0.5 percent of GDP.
     
     
     
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  • TUI has posted an underlying EBITDA loss of 177.7 million euros in the second quarter. This compared to a loss of 126 million euros a year prior. Europe's largest tour operator confirmed its guidance despite a "challenging environment". 
     
     
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  • RWE has beaten core profit expectations as greater efficiencies at power plants helped cut costs. Earnings fell 6 and a half percent year on year to 2.1 billion euros. The German utility firm missed on sales but confirmed its outlook for the rest of the year.
     
     
     
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  • The Stoxx Europe 600 basic resources index is leading the gains in Europe this morning, up 1.2 percent:
     
     
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  • Oil is rallying today on hopes of a new OPEC and non-OPEC deal on production cuts. James Butterfill, head of research & investment strategy at ETF Securities, recommends a range trade between $40 and $60 a barrel.
     
    Smack bang in the middle at roughly $50 a barrel is the marginal cost of production, or has been for some time in the U.S. 
     
    So every time oil tests that level, whether it’s coming down through or back above it, you see clients trading around it. We’re seeing our clients buy $130 million of crude over the last week. That’s about 7 percent of our assets under management. So, it’s quite a big move and we see pretty strong inflows this year of about $340 million. 
     
    According to James, any move below $50 is seen as a buying opportunity, followed by a lot of selling when oil hits $50.
     
     
    Comment ()
  • Armin Laschet, CDU chair for North Rhine-Westphalia, explains how the CDU won the recent election in the state.
     
    We had a special concept for a better North Rhine-Westphalia. This is the biggest German state, but in economic affairs we are very often at the last place, under the 16 German states.

    We spoke a lot about security on the streets. We need more police to secure the security of the people, but we want as well to be a country of integration and say yes we want migrants they are part of our society, but those who are against our law, they should feel a hard answer, because we don’t accept violence. Zero tolerance is our concept.
     
     
     

     
    Comment ()
  • Here are your top stories at this hour:
    • Cyber security firms across Europe and Asia makes gains after an unprecedented breach where 'ransome-ware' targeted over 200 thousand computers in 150 countries. 
    • European equities start the week at new highs as the FTSE 100 in London and the DAX in Frankfurt hit record levels in the first 30 minutes of trade
    • Crude jumps in early trade after Saudi Arabia and Russia agree to extend oil output cuts into March next year, saying they will do 'whatever it takes' to re-balance the market. 
    • Investors like the smell of K+S, after the German potash firm's CEO says it will conduct talks to find a new major shareholder.
       
    Comment ()
  • FTSE 100 hit record highs within the first 30 minutes of trading. Analysts are attributing this move to a good earnings first quarter in 2017 and positive forecast for the rest of the year:
     
     
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  • Now that President Macron has been sworn into office, focus is shifting to France's forthcoming legislative elections. The president's party 'La République en Marche' is aiming to secure a stable governing majority when France returns to the polls in June, but it will face fierce competition from the country's more established parties.

    Reporting for CNBC, Claire Fournier explains why Edouard Philippe, from Les Republicains, is likely to be chosen as Prime Minister rather than someone from Macron’s own party.
     
    Because (Macron) wants to broaden his political influence. He doesn’t want to be seen as someone who can only reach out to the socialists. He wants to be seen as someone who can also reach out to the right-wing. 

    In many ways, having a prime minister from Les Republicains is a symbol for the legislative elections, because if he manages to get Edouard Philippe, then dozens of people from Les Republicains might join En Marche.
     
     
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  • A little over 30 minutes since the start of the European trading session and stocks are trading higher. FTSE and DAX hit record high within the first 30 minutes of the open:
     
     
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  • At the end of March, the Portuguese Central bank announced that private equity firm Lone Star would take a 75 percent holding in Novo Banco for 1 billion euros.
     
    Financial firm Aethel Partners has also sought a legal solution to block the deal and reopen the bidding process after making a 3.8 billion euro offer for Novo Banco in January.

    Ricardo Santos Silva, partner at Aethel Partners, explains why it is trying to stop the sale of the bank.
     
    We made an offer at the beginning of January. No one told us that our proposal was not accepted until now. We’ve been in dialogue, or we were in dialogue, with the Deutsche Bank advisor and the Portugese government.

    Our proposal is much better than the proposal of Lone Star. The process has been all over the place since the beginning and we do not understand why the government is taking this decision.
     
     
     
    Comment ()
  • Gold prices edged higher on Monday as weaker-than-expected economic data from the U.S. and a missile test by North Korea over the weekend pressured the dollar.
     
    North Korea said on Monday it had successfully conducted a newly developed mid-to-long range missile test on Sunday, supervised by leader Kim Jong Un and aimed at verifying the capability to carry a "large scale heavy nuclear warhead."
     
     
    Comment ()
  • Here are your top headlines for this hour.
     
    • Cyber security firms across Europe and Asia makes gains after an unprecedented breach where 'ransome-ware' targeted over 200 thousand computers in 150 countries. 
    • European equities start the week at new highs as the FTSE 100 in London and the DAX in Frankfurt hit record levels in the first 30 minutes of trade.
    • Crude jumps in early trade after Saudi Arabia and Russia agree to extend oil output cuts into March next year, saying they will do 'whatever it takes' to re-balance the market. 
    • Investors like the smell of K+S, after the German potash firm's CEO says it will conduct talks to find a new major shareholder.
    Comment ()
  • Shares in British cybersecurity firm Sophos have hit record levels, whilst cyber security ETF ISE is also trading higher. This following Friday's cyber attack which crippled more than 200 thousand computers in 150 countries.
     
     
    Security officials are scrambling to find out who is behind the "Ransomware" worm, which struck hospitals and businesses, and is believed to have been stolen from the U.S.'s National Security Agency. 
    Comment ()
  • James Chappell, co-founder and CTO of Digital Shadows, discusses whether or not we are likely to see more cyberattacks similar to the recent incidents which affected thousands of computers across 150 countries.
     
    I think it’s inevitable as we integrate our lives more with technology; we’re going to see more and more of this kind of thing. I think there’s a lot more patching that businesses could have done, but that is quite challenging to do when you’re looking after 10,000 computers across a big enterprise.
     
     
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  • Italy's final reading of EU-harmonised CPI was released this morning. Inflations increased 0.8 percent month-over-month, while inflation grew 2 percent year on year.
    Comment ()
  • The pan-European Stoxx 600 index is flat this morning, edging higher by just 0.04 percent.
     
    Some European bourses are edging higher. The U.K.'s FTSE 100 and German DAX hit fresh record highs during trade this morning.
     
     
    Comment ()
  • Angela Merkel continued to build momentum into the September national elections as the German Chancellor's CDU party defeated the Social Democrats in a key state election on Sunday.
     
    One in five German voters live in North Rhine-Westphalia, which had long been a stronghold for the SPD party.
     
    Armin Laschet, CDU chair of North Rhine-Westphalia, says Angela Merkel helped secure the win.
     
    Angela Merkel was eight times in North Rhine-Westphalia, she campaigned very helpfully for us and I think the Federal government and the government in North Rhine-Westphalia will in the future work closer together. 
     
     
    Comment ()
  • Cybersecurity stocks and ETFs are rising in European trade today, following a series of "ransomware" attacks which disrupted factories, hospitals and shops in at least 150 countries.
     
    Shares in British cybersecurity firm Sophos rose more than 7 percent by mid-morning.
    Comment ()
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