World Markets Live - November 10 - CNBC Live Events
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CNBC Live Events

World Markets Live - November 10

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! Markets seem to have made a comeback from yesterday's shock and global stocks are seen in positive territory, up from the massive losses of Wednesday. While some analysts have said markets are in a "wait and watch mode" others think the volatility was short term. 

    Today, we will be tracking if this rally in stocks across the globe is sustainable? Back here in Europe, stocks started a day with losses on Wednesday but closed sharply higher. Futures suggest that they are expected to open higher this morning. Here's what the morning calls look like:

    FTSE100 is expected to open 34 points higher at 6,945
    DAX is expected to open 79 points higher at 10,725
    CAC40 is expected to open 36 points higher at 4,579

    That's according to CMC Markets.
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  • In just a few minutes - a special edition of Squawk Box Europe - Election Effect. Stay tuned!
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  • Here are your top headlines at this hour:

    • The Trump turnaround! U.S. shares stage a dramatic comeback, led by banks and healthcare stocks as investors bet on the prospect of less regulation 
    • Treasury yields rally to highs not seen since January on expectations that the Republican win could stoke a rise in inflation and accelerate the rate hike cycle
    • But protests break out across America, with demonstrators taking to the streets of New York, Seattle, Portland and Oakland to voice their opposition to Donald Trump.
    • We are live from Westminster looking at how the election of Donald Trump will impact negotiations over Brexit and trade discussions with the world's biggest economy
    • And we are also live from the heart of London's financial capital to find out if the rally in U.S. banks stocks will make its way to Europe or if concerns over the impact of the Republican win will cap gains. 
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  • U.S. stocks staged a dramatic turnaround after President-Elect Donald Trump defied market expectations with his triumph over Hillary Clinton. The Dow, S&P 500 and Nasdaq all finished the day more than 1 percent higher. 

    Financials had their best day since 2011, leading the S&P 500 to close up by 4 percent.
    Biotech stocks, meanwhile, led gains in healthcare as investors shed fears that a Clinton Presidency could put pressure on the pharma industry. 



    Big moves were also seen in the bond markets. Treasury yields rose to their highest level since January, with the yield on the 10-year note experiencing its largest one day jump in five years. 


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  • In the early hours of Wednesday morning, Hillary Clinton called Trump to concede the election. Moments later, Donald Trump addressed his supporters, offering his promise to the world.   


    I want to tell the world community that while we'll put American interests first we'll deal fairly with everyone. All people and all other nations. We'll seek common ground not hostility, partnership not conflict.

    In an unorthodox move, Clinton addressed her supporters and the media the morning after. 

    This is painful and it will be for a long time. But I want you to remember this - our campaign was never about one person or one election. It was about a country we love.


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  • Carl Weinberg, Chief Economist at High Frequency Economics joins us live to discuss what a Trump presidency could mean for the global economy:    

    Nobody really knows what happens next. We heard President-elect Donald Trump's speech last night that was certainly trying to be inclusive. There were so many things that were promised during campaign that it is going to be hard to put into reality. We just can't forecast what is going to happen in the medium term.


    There is not going to be much impact in the near term. Fed is probably going to hike rates as they intended to in December. But even they don't know in terms of taxes and regulations.
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  • Siemens says fourth quarter net income up 18 percent to 1.18 billion euros, beating estimates
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  • Donald Trump's presidency could put further pressure on European banks. Analysts say anxiety around Trumps' victory could hit trade financing and investment banking profits. While over the long-term a Trump administration is seen easing financial regulation - and potentially reducing banks' regulatory costs - the near-term environment could make investors nervous and hurt lenders who need to tap the market for capital.

    However European bank stocks closed up 1 and a half percent after an initial sell-off.

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  • CNBC's Carolin Roth is live from the City of London to discuss what Donald Trump's presidency could mean for European banks:


    Banks like volatility. Yesterday may not have seen the post-Brexit type environment for banks but over the next few weeks and months we will see more volatility as Donald Trump's policies become clearer and if there is uncertainty, volatility may present more trading opportunities.


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  • Francois Hollande has sent an open letter to Donald Trump, in which he asks to meet with the US president-elect as soon as possible. 

    The French President stridently criticized the Republican candidate in the lead up to the November 8th vote. However, Francois Hollande says now is the time for the two countries to work together to tackle the issues and challenges they both face.     


    Meantime Marine Le Pen, leader of France's far-right 'Front National' party, hailed Donald Trump's victory as an important step towards a new world order. Opinion polls show she is likely to make it to the second round of the French presidential elections, which take place next April. 

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  • Commentators have been quick to draw comparisons between Donald Trump's election victory in the US and the Brexit vote in the UK. Interim UKIP leader Nigel Farage welcomed the Republican's election win, saying that both the Brexit movement and the Trump campaign had succeed in re-engaging disaffected voters with the political process. 

    CNBC's Julia Chatterley joins us live from central London:


    The best relationship among the politician we have is between Donald Trump and Nigel Farage. That can't be the case so I think Theresa May needs to be on her front foot here rather than suggesting she will see him in the next 12 months. We need to organise a meeting as soon as possible. 


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  • Markets seem to have turned around, but people on the streets are not shrugging off the election result. Protests have erupted across America, including one that has drawn thousands in New York - outside of Trump Tower.


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  • Let's take a look at what the Asian markets are doing with Pauline Chiou

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  • Jan Halper-Hayes, Former Worldwide Vice President of Republicans Overseas joins us on the set to talk about the impact of Donald Trump's presidency:

    I don't think the Republican party has been this strong since 1920. However, there is a faction because Donald Trump is very much moderate and conservatives have really left the party.


    A lot of Republicans were concerned about his trade position. I personally am not concerned because it's been portrayed that he wants to get rid of them. When it comes to NAFTA he has said he wants to renegotiate putting America first.
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  • Goldman Sachs has said natural gas most likely to benefit from Trump election. The bank says Trump's proposals to roll back emissions-reduction targets will support gas demand as less policy uncertainty will incentivize investment. That's according to Reuters.
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  • Too long; didn't read? Listen in for our top stories in Asia this morning.


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  • The FTSE MIB was among the few European markets to close lower in the wake of Donald Trump's election victory. Italian stocks plummeted at the market open, but they pared early losses to close down by a tenth of 1 percent. Donald Trump's election win adds to the pressure on Italian Prime Minister Matteo Renzi, who was one of the few world leaders to publicly endorse Hillary Clinton. 

    The shock result raises fresh questions over whether the Italian PM's reform agenda is likely to be derailed by the wave of anti-establishment sentiment sweeping the globe. We asked Carlo Messina, CEO of Intesa Sanpaolo - Italy's biggest bank by market capitalization - how Donald Trump's election victory is likely to impact Italian politics. 

    The main point is that this stops uncertainty so now we have a president and we have to deal with the situation and in reality U.S. is a country of big institutional investors, big pension funds. 


    At the end, from a macro point of view, you can have a devaluation of the dollar and the postponement of the U.S. interest rate hike from Federal Reserve.
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  • Questions are mounting on whether Donald Trump will honor the current administration's nuclear deal with Iran, which he has vehemently criticized in his campaign. Legal experts have already come to say that the new leader could overturn parts of the agreement. But the White House has been quick to respond, saying it remains committed to implementing the policy. 

    CNBC's Hadley Gamble joins us live from Dubai to discuss the implications of Trump presidency on the Iran nuclear deal:

    If you see what this really means to the Obama administration as well. They have said they are going to continue to try and implement this policy. The Iran nuclear deal was the major foreign policy achievement of that administration and many would say it was the only major foreign policy achievement.

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  • Here are your top headlines at this hour:

    • The Trump turnaround! U.S. shares stage a dramatic comeback, led by banks and healthcare stocks as investors bet on the prospect of less regulation 
    • Treasury yields rally to highs not seen since January on expectations that the Republican win could stoke a rise in inflation and accelerate the rate hike cycle. 
    • But protests break out across America, with demonstrators taking to the streets of New York, Seattle, Portland and Oakland to voice their opposition to Donald Trump.
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  • Donald Trump's surprise win has sent shockwaves across the world, with many wondering how the new leader will reshape America's foreign policy. NBC's Richard Engel has analysed global reactions.

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  • Siemens intends to list its $15 billion healthcare unit to refocus on its core technology and automation businesses. 

    The German group announced the major strategic move as it posted fourth-quarter profit ahead of expectations but warned that geopolitical uncertainty is denting its orders. The firm said timing and size of the public offering will depend on market conditions.

    Joe Kaeser, CEO, Siemens joins us live to discuss the company's third quarter results:
    Our fiscal Q4 2015 had about 4 billion worth of huge big orders. The huge orders that sometime come in a quarter needs to stay on for a year. I am not concerned about it because we know our customers. There is a lot happening in the world and we have to see our customers reaction to that.


    It has a reason why 18 months ago I said the single biggest risk on our capital goods sector in general is about geopolitical uncertainty. Big projects are also typically accompanied by the regulators so that is a concern. 

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  • Bob Greifeld, CEO of the Nasdaq told CNBC at the Web Summit in Lisbon that repatriating the "hundreds of billions of dollars" of cash kept offshore by companies should be one of the top priorities for Donald Trump's administration


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  • German Chancellor Angela Merkel has congratulated Donald Trump on his election and used her first message to the president elect to stress their common values of democracy and freedom. 

    She also took aim at Trump's divisive rhetoric, after he criticized the German leader's immigration policy during his campaign, labelling it a total disaster.

    Norbert Roettgen. Chairman of the Committee on Foreign Affairs of the German Bundestag joins us live to discuss more:


    We want to remain in a close relationship with the United States. The environment in Europe has become more and more dangerous, chaotic and violent so we have in a way to reinvent the West as a political concept and for that we need to have a close relationship. 


    I think she was right to embrace him, to welcome him and to underline that we want to cooperate in a confidential intense way that we need to do that. But there was reason to underline the values that is at the heart of our alliance and relationship. We have to wait and see because there is no foreign policy programme.
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  • European futures point to a higher start to the trading day as stocks continue to rebound following Donald Trump's victory in the U.S. election.

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  • A hand grenade attack outside the French Embassy in central Athens lightly wounded a policeman early Thursday, police said, days before U.S. President Barack Obama is due to visit the Greek capital.

    Click on the link below to read the full story.

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  • In case you are just joining us, here are your headlines.

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  • Relations between Russia and the United States has been one of the most controversial topics of the Presidential elections, with US officials accusing Moscow of hacking the Democratic party server. 

    However, Russian president Vladimir Putin congratulated  the new President-elect, calling for a new era of positive ties between Russia and the US, only hours after Donald Trump's victory. 

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  • Zurich Insurance's third quarter net profit jumped 342 percent, well ahead of analyst estimates. Organisational changes under new CEO Mario Greco have helped to drive profitability at the Swiss insurer. 

    George Quinn, CFO of Zurich Insurance joins us live to discuss the numbers:
    Zurich has been around for 150 years. We have seen all kinds of Presidents, all kinds of economic circumstances. We will call with whatever changes come in the US. We are adaptable. 


    Some of the commitments that the president has made around infrastructure spending, tax reforms. These could be very beneficial and the US economic growth could be very beneficial for us. 

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  • Global stock markets have seen their highest volumes since the Brexit vote as investors looked to get on the right side of the Trump trade. 

    The boss of one of the biggest American exchanges said he expected a quadrupling of trade volume at the open alone, when he rung the opening bell at the Web Summit in Lisbon. 

    Arjun spoke to the CEO of Nasdaq, Bob Greifeld, and asked him about the impact the election would have on his business.

    What's in the order of doable and could have been done under the Obama administration is a deal on repatriation. That deal is there to be done. I think it's relatively low hanging fruit.


    There are hundreds of billions of dollars offshore that companies would like to bring onshore and I think the effective clearing rate is probably around 10, 12 percent and then you become relatively indifferent. So for me, that affects all industries there, whether it's used to fund an infrastructure bank which I think is good policy. I'd like to see that happen.
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  • All sectors in positive territory as European stocks make a step forward at the open of trade. 


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  • And here are how those sectors pan out.




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  • And individual bourses look like this.



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  • Siemens intends to list its 15-billion-dollar healthcare unit to refocus on its core technology and automation businesses. The German group announced the major strategic move as it posted fourth-quarter profit ahead of expectations but warned that geopolitical uncertainty is denting its orders. The firm said timing and size of the public offering will depend on market conditions. 

    Third quarter net profit has jumped 342 percent at Zurich Insurance, well ahead of analyst estimates. Organisational changes under new CEO Mario Greco have helped to drive profitability at the Swiss insurer. 


    Vivendi's third quarter earnings saw a boost from its music business which helped it beat analyst expectations. The strong results at Universal Music offset weakness in its other media operations such as Pay TV.

    Deutsche Telekom has confirmed its full year financial outlook, after posting a near 6 percent increase in third quarter sales - beating consensus estimates. The German telecoms company's core profit figure also increased by around 30 percent from the prior year period, boosted by continued growth in its US operations.  

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  • On the set is Tom Stevenson, Investment Director at Fidelity International. He says investors are worried about markets and no one really knows what a Trump presidency may look like: 

    People have been worried about growth. If you are in an environment where growth seems sluggish for a foreseeable future then that kind of diversified global industrial, you got to think that it is on a low growth track.


    We don't know what is going to eventuate. Trump has made lots of promises and it is early days. We have two knee-jerk reactions - both negative and positive. The reality is no one really knows what Trump presidency look like.

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  • Here are your biggest movers after about 10 minutes of trade. Ageon the biggest winner after reporting third quarter figures. The financial services firm reported a Q3 net income of 358 million euros.

    If you tap on an arrow you can see the biggest losers.

     
     

    1 of 2


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  • Specialist chemical company Lanxess is raising its 2016 earnings guidance for the third time this year, despite reporting a slight fall in third quarter sales. The German group also released an update on its acquisition of Chemtura, saying it expects the deal to be completed by mid-2017. 

    Matthias Zachert, CEO at Lanxess joins us live to tell us more:

    In the past we were very much focused in Europe and had footprints in the U.S. With Chemtura acquisition once completed, our asset base will be very strong in the U.S. very strong in Europe and also very strong in Asia.


    Our view is that the North American and the European trade relations are important for both regions. No politician will make sure that this is not destroyed.
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  • The Stoxx banking sector is up more than 3 percent this morning as stocks make a comeback from the shock of Donald Trump's victory in the U.S. presidential elections:

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  • Continental says it sees a stronger fourth quarter after the the German tire maker posted a 40 percent drop in operating profit in the third quarter, hit by cost effects of warranty cases. Higher R&D expenses and potential antitrust fines also hurt Continental's earnings.

    Shares are off 0.77 percent on a day when the wider German stock market is moving in a posirive direction.


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  • Major European banks are in rally mode this morning. Shares in Credit Suisse are up more than 8 percent. CNBC's Carolin Roth tells us why:



    We are seeing banks trading on the upside. Steepening yields are very good for US banks and are going to be good for European banks too. We know that yields benefit those bank and they have been complaining of a low yield environment. The other benefit to them would be lowering of regulation.

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  • Tom Stevenson, Investment Director at Fidelity International says trading in the hours and days after a shock such as a Trump presidency is a dangerous environment to be investing in.

    Despite the dangers , he doesn't seem certain that seeking a safe heaven, such as gold, is necessarily the answer.

    Gold came off very sharply. It is a risk-off trade and right now it feels like a risk-on environment.

    Stevenson: Feels like a risk-off environment


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  • Here are your top headlines at this hour:

    • The Trump trade is in full effect in early European trade. Banks and basic resources lead the way higher after US financials stage their biggest one day gain in five years. 
    • Protesters take to the streets across America in opposition to the election results with demonstrations in New York, Los Angeles, Seattle and New Orleans.
    • The boss of Siemens reacts to Trump's victory saying geopolitical uncertainty remains the single biggest risk, after the German conglomerate beats expectations and unveils plans to list its healthcare business.
    • Shares in Vivendi hit a high note, as a strong performance in its music business helps the French media group beat expectations in the third quarter. 
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  • Japan's Prime Minister Shinzo Abe's adviser says Japan's stance is that countries shouldn't renegotiate terms of Trans Pacific Partnership (TPP). 

    PM's adviser Shibayama says the Japanese government has been saying it will take bold actions vs forex if needed, when asked about chance of yen-selling intervention. That's according to Reuters.
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  • Karen takes us through sector and stock moves after about half an hour of trade.

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