Yesterdays stock rally. European equity futures suggest another grizzly session. Reject ree to restrict travel to the region. Angela merkel is not rule out joint eu debt issuance. Welcome to the European Market open. Lets get straight into breaking news from the car sector. Car sales in europe are off to their worst start to the year since 2013. Registrations declined 7. 3 . The coronavirus is shutting down car plants worldwide. Earlier on, we heard from toyota. Daimler vw, and that is the way we are heading. Things are looking to get worse before they get better. Of february looked different than the end in terms of consumer purities priorities. Lets get a look at how the car sector opens in just under one hour. Under one hour to go until the sort of cash equity trading, here is what futures look like. 4 under pressure, down by or there about. Down,utures are also nasdaq futures down more than 4 . , we saw strong gains but now things are looking more difficult through the Asian Sessio
Eamon javers is inside the meeting. Meg, what can we expect outside of this meeting . We did see the executives head in just a few moments ago as well as research chiefs theyre expected to discuss the status of development of both vaccine and drugs for the novel coronavirus. Gilead and regeneron have medicines in development, while the others are working on vaccines, as moderna las already delivered a batch for testling Stephanie Duke is catching up with stan erk, asking what he hoping to get from this meeting. Im hoping to get a commitment from the government theyll help us expedite the process. The case numbers are continuing to rice here, with seattle and king county just announcing an additional four deaths, bringing the total in this country to six. Guys what are you expecting, meg, in terms of the numbers of those that are diagnosed, given the fact that the cdc apparently is starting to provide more contests or is it in addition, we are starting to see local Public Health labs, a
The eu finance minister told an emergency call today. Manus warm welcome. I am in zurich. Its all about the bond market. Andcurve could go negative we run the risk of japan if japanification. Good morning. Did Jerome Powell cut and undercut himself . Is history showing when you have these cuts in meetings, the stock market does not take it well because you get emergency cuts, what it is really saying is the cuts are not effective to solve the underlying problem. Jerome powell did hint at that. Hitequity market took a big as well as the bond market. Inus jp morgan say we are quicksand to negative yielding territory. You saw this collapse in yields. The question is, are treasuries now pricing in an aggressive recession in the United States of america . You have the rate cut from the fed, but was it a bozo in terms of communication . Have a look at gold, have a look at oil. The gold price belies the bigger move. The biggest rally in for years yesterday. We are up 8 this morning. The bigge
Political backlash. To rule ea is said himself out of the running for hsbcs top job. Berkley Ceo Jes Staley is expected to leave by the end of 2021. Manus a warm welcome to daybreak europe. The official of unicredit says mustier is staying at the italian banks. That is the headline. You have the jes staley story this morning, a little banking stories. For me it is about the conversation i had with axel weber on the weekend on the sidelines of the g20. Very clear, equity markets are underpricing the gravity, longevity of the potential risk from the coronavirus. That sums it up. And mustier is staying at the italian bank, good news contin. Nejra absolutely. Who would want to take the top row at hsbc with so many challenges . In terms of the coronavirus, seems like investors are trying to find the bottom of this crisis. I think it is pretty fair to now, even ifright some of the rhetoric coming out of the g20 was a little more contained than what markets are reflecting. I think that was do
A stray hes banking on to help fuel its economy while other countries look to renewable its. China is reporting a slowdown in the number of new cases of corona virus for the 3rd successive day the World Health Organization though says its impossible to predict which direction the epidemic will take 142 deaths were reported on sunday along with 2000 more infections world wide its nearly 1700 have dies i was recorded its 1st fatality while an elderly chinese tourist and france became the 1st to die in europe u. S. Citizens on board a quarantined ship quarantined cruise ship docked in japan are being evacuated as after 70 more confirmed cases of corona virus were reported on the diamond princess bringing the total number of infections to 355 well john hendren is in washington d. C. With more on whats next for those american passenger. For the 400 americans who are going to be taking these charter flights theyll go back but many of them are upset because theyre going to have to spend 2 wee