World Markets Live - November 14 - CNBC Live Events
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World Markets Live - November 14

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

  • Welcome to World Markets Live!

    Here are your opening calls for European markets, provided by IG.

    FTSE 100 – 6777 (+56)
    CAC – 4517 (+38)
    DAX – 10,737 (+79)

    Blog coverage will begin at 6am.
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  • Here are your top headlines this morning:

    • Donald Trump begins to pick his team, selecting Washington insider, and RNC chairman Reince Priebus as his chief of staff, while tapping right-wing pundit Steve Bannon as his chief West Wing strategist.
    • Protests against the president-elect continue across the U.S., as Trump inches away from some of his most controversial campaign pledges in his first post-victory interview. 
    • The Nikkei nears a nine-month high in a mixed Asian session, as the yen weakens against the dollar and the latest Japanese GDP reading smashes expectations. 
    • The New Zealand prime minister says the damage bill will be at least a couple of billion dollars, after a 7-point-8 magnitude earthquake hits the island nation over the weekend. 



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  • U.S. President-elect Donald Trump has made his first official appointments to his White House administration. 

    RNC Chairman Reince Priebus will be Trump's White House Chief of Staff, while his campaign Chairman, and former head of right-wing news outlet Breitbart, Steve Bannon will lead as Chief Strategist and Senior Counsel.


    Priebus, who has close ties to Congressional Republicans, including House Speaker Paul Ryan, will play an important role in advancing Trump's policies through Congress. 
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  • Michael Hewson, Chief Market Analyst at CMC Markets U.K. looks back to last week's stock market rally on the Trump trade as investors absorbed the news that Trump won the presidential election and game him the benefit of the doubt.

    The Dow Jones posted its best weekly performance since 2011 as well as a record high, and though other markets weren’t as enthusiastic, it would appear that investors appear to be giving the new President-elect the benefit of the doubt in terms of last week’s indications that a big infrastructure boost could be on the way, along with some significant tax reforms.  

    Whether this optimism can withstand the ongoing scrutiny leading up to next year’s official investiture is anybody’s guess, however bond markets already appear to be starting to price in the prospect of additional inflationary pressures, as US 10 year treasuries posted their biggest weekly loss since early 2015, as traders scrambled to reprice the timing of potential future US rate rises. 
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  • The Nikkei became one of the top performers in Asian trade. A weaker yen and stronger-than-expected economic data boosted the Japanese stock market.

    Here's a look at how the Nikkei moved over the session. 

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  • Other markets struggled in Asian trade. Currency outflows are hitting emerging markets hard as the U.S. dollar strengthens.

    Expectations of an interest rate rise by the Federal Reserve are also having an impact and led to a sell-off of property developer stocks in Hong Kong.

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  • For a round-up of the headlines in Asia, check out today's TL;DR

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  • The Mexican peso gained more than one percent after Donald Trump offered further details on some of his campaign promises in an interview with CBS 60 Minutes' Lesley Stahl. Investors bet that the President-elect would soften his campaign pledges to build the wall. 

    Here's a look at the 30-day performance of the currency pair. The U.S. dollar is up around 9 percent over the period.

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  • The election of Donald Trump may have burst the bond bubble, sending emerging market bonds down across the globe.

    For more on this story, click here.


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  • Mixed Chinese economic data came out overnight, released by the National Bureau of Statistics.

    • China's fixed-asset investment rose 8.3 percent in January-October from the same period a year earlier, slightly higher than market expectations.
    • Chinese banks extended 651.3 billion yuan ($95.56 billion) in net new yuan loans in October, below expectations and falling sharply from September, as policymakers pledged to prevent asset bubbles.
    • Housing sales rose 42.6% in the first 10 months of the year from the same period a year earlier. In the year through September, sales rose 43.2%.  
    • Industrial output in China rose 6.1% in October from a year earlier, the same rate as the previous month.
    • China's crude oil production in October fell 11.3 percent from a year ago.
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  • German utility RWE reported operating profit at its power generation unit rose 7 percent to 435 million euros in the first nine months of the year, citing cost cuts and property sales
    in what is otherwise a struggling business, according to Reuters. 

    Operating profit from conventional power generation, rose to 435 million euros ($469 million), RWE said, which beat the 417 million average forecast in a Reuters poll. 
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  • UKIP party leader Nigel Farage met with President-elect Donald Trump at his home in New York on Saturday, becoming the first foreign politician to meet Trump.

    Farage said his visit was intended to help smooth the transition for the UK government's dealings with Trump, after claiming Theresa May's conservative government needed to "mend some fences" with the incoming U.S. President. The prominent Brexit campaigner had previously made an appearance with Trump on the campaign trail. 

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  • Francesco Oggiano, author of "Beppe Grillo Parlante" about Italian politician Beppe Grillo and the Five Stars Movement, speaks to CNBC about the upcoming Italian referendum on reforming the constitution and says Prime Minister Matteo Renzi may resign if he loses the referendum.

    The Yes and No sides seem well-established,  with the No leading by about 3 percentage points. But in Italy now there is a huge 25 percent of Italians that still don’t know how to vote, so in the next week a game will be played upon these 1 Italian out of 4, with Renzi on one side. The Five Stars Movement will try to convince that 1 Italian out of 4.

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  • The Bataclan concert hall in Paris was reopened on Saturday with a special performance from Sting. One year on from 90 people being killed at the theatre during the Paris Terror attacks, the musician, speaking in French, called for a minute of silence for the victims and said "we will not forget them.

    Sting has said that all proceeds from his performance would go to organisations supporting the victims of the attacks. 
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  • CNBC's Hadley Gamble reports on how the Middle East is reacting to the election of Donald Trump as the next U.S. president.

    by luke.graham
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  • Al Wilson, global head of sovereign ratings at Moody's, explains the credit ratings agency’s current outlook for the U.S.

    Strange as it may sound, we had to try to look through the election. We don’t quite know what the short term implications for U.S. policy are and for us, in any event, the greater significant is the medium term; how the U.S. is going to deal with the rising cost of entitlements over the next 5-to-10 years. That’s the more significant question.

    These are the global outlooks from Moody's.

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  • The Japanese Nikkei closed today's session at its highest level since February. The index was aided by the weakening yen, which helps those companies with foreign earnings.

    Against the dollar, the yen is down around 3 percent over the past seven days.

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  • Michael Hewson, Chief Market Analyst at CMC Markets U.K., explains the economic impact of  rising inflation expectations on the bond and forex markets.

    This rise in inflation expectations hasn’t been confined to the U.S. in recent weeks, it’s been a trend playing out in bond markets for a month or so now, with UK gilt yields almost back to their pre Brexit levels of 1.4%, while German bond yields back at levels last seen in March at 0.3%. 

    This rise in borrowing costs has also seen European periphery yields surge higher raising the pressure on the finances of vulnerable deficit countries like Portugal and Italy unwinding all the work by the European Central Bank to push yields lower. 

    The pound has also earned a welcome reprieve as the whipping boy of the FX market enjoying one of its biggest weekly gains against the euro this year, as market attention shifts to the shifting tectonics of the European political system and its weak financial system and recovery. 
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  • Beat Wittmann, partner at Porta Advisors, explains why he has become cautious towards markets.

    Staying defensive right now and also the last few weeks is the sensible thing to do for two reasons. 

    Markets did really well the last two years (look at the DAX, look at the S&P), driven by liquidity, ever lower interest rates and inflation rates.

    And I think with the ongoing discussions in western democracies about nationalist, populist policies and the reverse, and now the election of Trump, I think we are heading to a paradigm shift of large proportions and I think it’s good to profit from it one way or the other, but then you better start with cash at this stage.
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  • Samsung has announced plans to acquire U.S. auto parts manufacturer Harman International Industries for $8 billion. It will pay $112 a share in cash, a 28 percent premium

    Harman will operate as a standalone subsidiary, and Samsung plans to retain the company's work force, headquarters and facilities. 
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  • U.K. builder Taylor Wimpey reports a year-to-date sales rate of 0.75 per outlet per week. The company's order book is worth £2.3 billion, but it also said cancellations had risen marginally to 13 percent and expected build costs to increase 3-4 percent during 2016.

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  • Greencore has announced plans to acquire U.S. company Peacock Foods for $747.5 million. Patrick Coveney, CEO of Greencore, says the deal will grow Greencore’s U.S. business to be as big as its U.K. business.

    We’ve had a strategy for five years to build scale in food-to-go in the U.K. and U.S. We’ve been looking for a number of years for the right way of scaling up our U.S. business, and fortunately we came across Peacock Foods as early as March and we’ve been working with them on a bilateral basis to try to put in place the arrangement we’ve announced this morning, so it’s going to make a huge difference to our business.

    Greencore reported full-year revenue rising 10.6 percent to £1.482 billion.

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  • European markets look set to rise again this week. Craig Erlam, senior market analyst at OANDA, shares a warning for bullish investors.

    I can’t help but think people are once again getting a little carried away. A Trump Presidency has suddenly gone from being the least desirable outcome, to say the least, for the markets to being responsible for the Dow soaring to record highs and bullish hysteria sweeping through the markets. 
     
    While he may appear to be dialling down some of his more radical protectionist policies which allows people to focus more on his pro-growth plans, markets may still be getting a little ahead of themselves. We still need to wait and see how he’s going to work with Congress and how much fiscal slack he’s going to be afforded in order to fund these ambitious stimulus plans.
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  • Beat Wittmann, partner at Porta Advisors, shares his view on the spate of acquisition deals being announced at the moment.

    They have to be judged case-by-case, because we know that M&A deals on average don’t create value, but they can make sense if they’re well-executed. 

    And then they take time. I mean, they’ve not happened in the last two days, so if something gets announced now they have nothing to do with the election; they happened months ago, typically.

    And refinancing has been historically cheap, so corporates could take up money at my end but they can still use the firepower, until now. So I expect more deal-making for offensive or defensive reasons.

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  • Siemens to acquire design automation and industrial software provider Mentor Graphics for $37.25 per share. Siemens offer represents an enterprise value of $4.5 billion. The closing of transaction is subject to customary closing conditions and is expected in Q2 of 2017. That's according to Reuters.
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  • Andrew Newington, Chief Operating Officer at Actis, discusses the sell-off in emerging market assets.

    I think it’s an understandable short-term reaction to some of the statements, some of the rhetoric that you’ve heard throughout the (U.S. election) campaign and I think nobody was expecting the election result.

    When it came through, I think it was understandable the number of investors who decided to move back to the sidelines. In the same way as we saw after the Brexit vote in the U.K., the reaction will take slightly longer to play through.

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  • European futures point to a higher start to the trading day, shrugging off broadly lower trade in Asia, amid a tick-up in bond yields and the U.S. dollar that is stoking risk appetite.

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  • Hussein Sayed , chief market strategist at FXTM, summarises how market's reacted to the election of Donald Trump as U.S. president last week.

    Undoubtedly, last week is one to remember for years to come, not only because of Trump’s surprising victory, but the market's reaction to the new president. 

    Instead of equity markets plummeting and bonds surging due to a new chapter of political uncertainty, stocks rallied to new records and U.S. treasury bonds declined to levels last seen in January. 

    Investors decided not to waste time and were very fast to adjust their portfolios based on Trump’s promises of fiscal spending, cutting taxes, trade relations, and fewer regulations. 
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  • Samsung electronics will acquire auto parts supplier Harman International Industries for 8 billion dollars. The acquisition gives the electronics giant a boost in developing automotive and connected technologies. 


    Interesting deal. Samsung set up a group to look into the auto tech sector back in December. Lots of other technology company have been seeing the auto industry as a key part of of future growth. For Samsung, this gives them access to a larger auto industry.


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  • European markets are now open for trading. The Stoxx Europe 600 is open 0.6 percent higher:

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  • Major European stock indices open higher this morning and seem to be in rally-mode as traders digest Trump policies:

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  • Let's take a look at the best and the worst performing stocks this morning. UK-based debt collector Intrum Justita is up more than 20 percent after the company announced it is merging with Lindorff in a Nordic deal.

    Global nutrition group Glanbia tops the list of worst performing stocks, down 2 percent:

     
     

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  • Taylor Wimpey says it is on track to deliver improved operating profit this year, despite posting a small rise in cancellations to 13 percent year-to-date. The UK homebuilder struck an upbeat tone, as trading held up following the EU referendum. 

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  • Daniel Morris, senior investment strategist at BNP Paribas, says the investment outlook has changed significantly with the election of Donald Trump as U.S. president and explains why markets have reacted positively to the result.

    You clearly had the potential for a positive path and a negative path after the election of Trump, because from the Republican platform point of view it was entirely positive for business, but of course we had things said during the campaign trail that were negative for GDP. 

    And the question is when would you know which path you were going down? You had the potential that could take a while because he doesn’t become president until January. It turns out we knew that within several hours saw it was going down the positive path and that’s why, like the Brexit reaction which was over in two days, this was over in six.

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  • Support services firm DCC's operating profit grew 33 percent in the six months ended September. The company said it expects full-year operating profit to come in well ahead of market expectations. DCC shares are climbing on the news. 

    Tommy Breen, CEO of DCC joins us live on the set to discuss more:

    At DCC, we have four businesses. We have energy, healthcare, technology and environment business. If you look at where the capital is being deployed, the bigger part of it is has been energy business but also we have announced an acquisition for a technology business. We are trying to grow all of our business but there have been more opportunity in energy.

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  • Shares in RWE are up more than 1 percent in morning trade after it posted its latest results.

    The German utility company reported operating profit at its power generation unit rose 7 percent to 435 million euros in the first nine months of the year, beating expectations.

    This is how the company's share price has performed so far this year.

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  • European stocks are rallying, led by Basic Resources and Banks. Here's a look at the best and the worst performing sectors:

     
     

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  • European banks are doing well this morning. The Stoxx Europe 600 banking index is up more than 1.5 percent:

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  • Here's a look at big European banks that trading higher this morning. Stocks across the board in positive territory:


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  • Shares in Greencore group have risen strongly in trade this morning.

    The company reported rising revenues and announced plans to acquire Peacock Foods, which will greatly expand its U.S. business.

    This is how the stock price has moved over the past 30 days.

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  • Euro falls to lowest vs dollar since start of January, down 0.8 percent at $1.0770:


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  • Shares in Italian lender Banca Monte dei Paschi di Siena are up more than 3 percent today.

    Markets are reacting to news that the board of BMPS will today meet to agree on the terms of its debt-to-equity conversion, which is part of its recapitalisation plan, according to Reuters' sources. 

    The Italian lender is also looking to carry out a series of cost cuts including staff reductions, branch shut downs and asset sales to kick-start profitability.

    Here's a look at how the stock price has moved over the past 30 days.

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  • Here are your top headlines at this hour:

    • Risk-on sentiment lifts Europe higher out of the gates, with basic resources and banks leading the charge. The Nikkei closes at a 9-month high on an upbeat GDP print. 
    • RWE shares power higher after the German utility company predicts full year earnings at the upper end of its guidance, helping investors shrug off a slump in quarterly profits
    • Samsung Electronics steers towards the connected car tech market with an 8 billion dollar acquisition of Harman International. 
    • Donald Trump begins to pick his team, selecting Washington insider, and RNC chairman Reince Priebus as his chief of staff, while tapping right-wing pundit Steve Bannon as his chief West Wing strategist. 
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