hello and welcome to "street signs. i'm carolyn ross and these are your headlines bank adjustment minister says the response of catalonia's minister could strip the regional government of some powers after a letter does not offer clarity on an independence declaration. crude prices rally after they secure oil fields and military positions.

miners show strong prices. they rally to the up side. good morning, everyone you're watching "street signs. it is a brand-new show on a brand-new monday welcome to the new week. on "street signs" the stocks are up 0.2%. not seeing too much action right now. we still have a lot going on when it comes to catalonia we'll come to that in a little bit. when it comes to the overall european equity market, no major data points to tell you about today. let's show you what the indices look like at this point. we're seeing the xetra dax well off the session lows. it was off by 0.7%

we'll tell you about all of the latest happenings. advancing by 0.5% and we are coming off five straight weeks of gains and we're still trading close to four-month highs. not doing too badly here when it comes to the sectors, basic resources doing well up by 2% copper and iron were priced in the asian trading sessions oil not doing too badly either we're seeing utilities and industrials slightly under performing back to our top story. catalon leader has asked the spanish prime minister for dialogue he did not clarify whether he has actually declared independence in a letter sent to rajoy, they asked for court proceedings against the catalan police chief to be suspended. they say that the response was

not valid. now the latest twist in the catalonia drama is weighing in the ibex is under performing mostly trading lower and the spread between spanish and german ten-year bonds has declined fractionally. we're joined on set once again for discussion of this this is not something madrid was hoping for they were expecting a yes or a no they got a two-page letter a fudge response >> they were expecting what they wanted, clarification. last week one of the catalan executives described this as a game of chess. it's about whether he had declared independence tuesday night. he said he wants to have talks with rajoy and international media agents which is something he's talked about again and again.

he's listed better grievances against the spanish state. the local organization in catalonia is facing charges. he says that's unacceptable. really we're seeing a pattern here of him making statements, treading back and all and the pressure is on the verge of the own coalition where he has 10 out of 35 assembly makers who desperately want independence and then they want the dialogue. rajoy has repeatedly said even a lack of clarification would encourage him to invoke it he has already passed that through the early stages with the spanish senate so we could expect the next few days to see that happen. again, up until thursday they could dial back any declarations since he hasn't clarified, we're

back there >> this infamous article 1.5, is that a trigger it's never been triggered before we're in unchartered territories. what would that look like? we read about economy being suspended. >> there are a lot of things in it they woulddissolve the local assembly they would take control of that, the local catalan seat we saw during the referendum it could mean taking over control of the local taxing authority to make sure that the fiscal responsibilities of catalonia are not dissolved. that's a major move catalan would like to make, to make sure they are in charge of their own taxes. if they do demand independence and follow through with it, so there's a number of different measures >> but then we'd still be facing new elections and that, in turn,

might yield another pro independence government. >> exactly. >> we're back to square one. >> exactly once again because of what's happened in the last month or so, you have a repeat where a majority of them in the catalan assembly are in favor of independence that may mean a different leader is found the candidates from that leadership, that presidency, they might find someone but, again, that's a bit of a gamble. >> i just want to tell you i don't know if you've seen this yourself in half an hour's time, we will be getting statements from the french deputy prime minister once again that statement will be forthcoming in about half an hour's time. when we do get it, we will bring that to you. thank you so much for that. in other news, janet yellen says the federal reserve is watching inflation closely in washington she says that the strength of the labor market calls for continued gradual

increases. growth and wages remain resistant but yellen says the most recent wage gains continue and were encouraging ecb president mario draghi has hit back at claims that central bank policy is distorting prices speaking to cnbc, he responded to concerns that stock and bond valuations have risen too far. take a listen. >> i don't think you're leaving it in the proper situation also, i have qualified my consideration and my view of the international market as being relative to the eurozone and i wouldn't comment about averages, of scoucourse if we look at the eurozone, we don't have ended most stocks and bonds and other markets as well.

they're having them compared with historical averages. >> let's talk about this further. nick, great to have you on the show once again. do you agree with mario draghi >> yeah, he's right. when you look at fixed income in europe, you look at eurozone growth, it is still on fire. it's going to out perform the u.s. for the second year running probably and then the fixed income, the 425 in the absence of inflation wherever you look in europe, you fail to look at the inflation. >> that's been puzzling not just in europe but also in the u.s. we're listening to the fed and everyone is hoping that inflation will pick up where exactly is it going to come from? is it really going to be from the crucial part, the wages part >> it is when you look at the u.s., they've clearly got employment there's always an effect when you think of inflation there's always a six or

nine-month lag there to really understand that wage inflation starts to come back there. the eurozone is the opposite side of the coin it's high unemployment wherever you look wages look very, very tempting >> do you think we should be afraid of the sudden jump in inflation, something that could assist the market? right now we're discounting inflation wherever we look do you think this could be one of the major risk factors? >> no. what you tend to see with inflation is a gradual grid. when you look at the u.s. and indeed the u.k. and we'll find out tomorrow. >> in your most recent notes you see don't fight the fed. don't fight the ecb. does that still show the same thing? >> it does the real message, look at the power. when you look at fixed income, you have today's returns are stunning one of the reasons for that is just the power of influence. when you look at central banks locally, that will be at least

until this time next year. the fed is reducing the ties >> what does it mean for your investment strategy then i guess you want to steer clear of any government bonds. we've heard that for a long, long time sings the start of the year essentially isn't it surely the slow week slim pickings outside of the bond space aren't valuations being driven up that we can go into a bund or a treasury right now >> when you look at fixed income, the lesson from this year is that there was life in the old bond market. look at bonds that benefit from growth two obvious sources there. the first actually is local emerging market bonds and then the second is corporate bonds. corporate bonds are a high yield. >> what about converging market bonds. that sounds all well and good and that's delivered some amazing returns. now we've seen the dollar come back since the middle of september. that would hurt the local currency bonds in the emerging

markets. how do you protect that? >> so a few ways to protect against that the first is don't just sell dollars against them why not sell a few euros, pounds then you get the cost-benefit of that higher additional yield without the directionality of the u.s. dollar. >> nick, we'll come back to that discussion in a little bit in the meantime, wanted to tell you what's going on in the oil market a lot, actually. saudi aramco is denying that it is selling its ipo that is after they reported they have been in talks about private placement instead. a spokesperson for saudi aramco says a range of options are there. sources told cnbc that one thing under review is whether to list on the saudi market first and then list on an international exchange at a later date now the statement echos promises made by the saudi energy

minister they told cnbc earlier this month that the company's ipo remains on track. >> the government is moving right ahead. the chairman of saudi aramco, i can tell you that our board remains focused by a very dedicated team within the compa company. it is on schedule and there's nothing to indicate that that schedule is slipping in any way. >> and the big news of the night, iraqi government forces say they have taken control of big areas in the kurdish held region of kirkuk however, kurdish authorities have given up claims saying the air fields and oil base was still under control. the move comes three weeks after the kurds voted for independence in a referendum that has refused to acknowledge the conflict in

iraq take a look at frank crude off the session highs. wti crude at 51.92 up 0.9% jeff cutmore sat down with the russian finance minister he asked if he was confident oil prices would remain stable for the rest of the year. >> we are very much in favor of a price level. it's also important for people who are currently investing in russia, it's important other countries are carrying out export/import operations and as a whole it is important for the state and the country in the russian federation in order to minimize price fluctuations in foreign markets, we have prepared a budget. i think that this is a fairly competitive servicing price. it should be factored in for the

next three years simply, our balance of payments on our current account, balance on the price of $40 a barrel therefore, the percentage of the federal budget and oil and gas revenue has gone down from 60% to 40% and we're building our budget on the basis of the existing current price level which we've included in our forecast which is $40 a barrel therefore, the fact that prices can change, can fluctuate is a factor that the russian federation cannot worry about. we have to safeguard our budget. we have to include the reduction of the price of oil. >> mining stocks, they're trading sharply higher today bolstered by a number of key developments of course, we saw that rally taking place in asia and that was spurred by a jump in prices and copper prices. activist investors are keeping the pressure on bht. expected to make an appearance

this week. meanwhile, glen core has entered a stand still agreement that will keep them from going hostile. last may the british miner approached them about a takeover let us know if you have any questions or comments about what you've taken on the show you can find us on twitter @streetsigns @cnbc we are going for a quick break still coming up on the show, you will lose. that's the message from ray g l gallios. we'll have more on this story coming up. don't go away. my friend susie cracks me up. but one laugh,

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all right. welcome back to the show let's tell you a little bit about some of the corporate news we've been following for you over the weekend u.s. confession naryury giant is preparing for another by on

nestle and castle has named a new cfo he will take over immediately. and the coo has told cnbc that bridgewater's multi-million dollar wager is going to fail. this in response to the fact that the hedge fund is starting stocks bridgewater's biggest bet is calculated to be against san paulo. the non-performi ining loan problems need to be addressed. that was from mario draghi the italian government has

criticized a plan by the single supervisory mechanism imposing new ruleson how lenders deal with that loan italy's non-performing loans stood at 360 billion euros in june last year that's equivalent to 20% of the country's gdp. now jeff had a chance to speak to the ifo and asked how regulators are dealing with the issue of npls. >> in nonperforming loss, from the ecb, their view is something that is creating some concern but also the attitude of all the other european players so i'm really disappointed that you have ecb saying something, parliament say others. you have different commissions, euro group, imf. a lot of them dealing with something that is absolutely price sensitive.

so i think this is the problem also from the way in which they are managing this. >> why the confusion it should be pretty clear. >> it is different the way of looking at the same problem, but i think that from the substantial point of view, you cannot add something to the international accounting principles you have the process of recovery so it is difficult to say that you can do something different from the accounting principles on the other side, there is something like from a political and technical approach so political, say, you are the owner of the rules from the other side supervision is saying, yes, but i'm responsible for safe and sound institution in the end the result is a lot of confusion from the banking sector investors and shares of the big banks in europe because you

can't go see the taxpayer as very important you see families about investing. we have a situation in which you have a share price that is moving related to the ecb. ecb commissions, parliament, so i think it is something in which we have to take a rest, find a common position and then decide what we have to do. >> but are you fundamentally against the idea >> i'm in favor of the idea of increasing the speed of reduction. so that's my point so this is really the good point of the ecb intention sz. we need absolutely to use and to enforce the action we are delivering reduction. we have a target to precrisis level. we will do better and be we will

announce a target that reinforces the position according to the following the ecb indication on the other side, if you enter into supervision and provision rules, you have also to respect the accounting principles. >> so with us is nick garci. italy is like the npl and the election issue earlier do either of those two worry you? it has worried european investors so long. is it now running out of steam >> when you look at the npl issue, think of that as a technical accounting change. no one disagrees that npl and the currency need to be speeded up we can leave that to an accounting side. when you leave that to italy, they're on the cusp of a big recovery you're seeing jobs return, economic growth, even seeing bits of inflation in italy

so banks are being very good >> is there an opportunity going long b 2 c >> no. they absolutely stand out as a very attractive asset within the context of the european government bond. >> what's interesting is stepping aside from fixed income, i think the week before last week when we saw the whole spanish problem bubbling up, we saw outflows of italy outpacing the second quarter of 2015 i wonder to what extent italy will belong together with spain and now that cracks are starting to appear in the new found stability of europe. do you think that investors are soon going to be thinking twice about that >> i think it's premature. clearly a flash point is the election next year i think one of the lessons that we've all learned from political research is it gives you an opportunity to buy assets that

can become dislocated. the place that we would look at in italy is european high yields you've got some great high yield issuers in italy any location there, investors should be picking them up. >> you're not too concerned about italy or spain, i take it, are you? >> no. no again, when you look at spain there's clearly an eternal spanish problem. i'm sure the authorities there deal with, but spain is the international success story. >> it is. >> growth in spain, it will be over 3% this year. spain's done a fantastic job of growing, becoming very competitive again and let's be honest, when you look at spanish government bonds, the action has been muted there. >> it has been it's been a great story ft. meade yeah and maybe to a little bit of an extent the spanish banking stocks but not so much the fixed income assets or maybe the euro. >> when we take a look at the risks, tapering is on the

agenda we don't know how the feds are dealing with that. china, we have the people's party congress kicking off this week what do you think is the biggest single source of risk right now? >> this will sound very odd. the biggest source of risk is that growth is significantly stronger than anybody expected. >> stronger? >> absolutely. >> what you'll see from that is there will be a perception that central banks are behind the curve. look at what markets are pricing for the ecb or the fed really a de minimis monetary policy. >> markets of dovish. >> absolutely. growth is a lot stronger inflation kicks out. investors have to have an aggressive action. bond yield will look way too low. >> better than expected growth, that's a really good risk to take at this point very strong departure from what we've heard in the past. >> it is that may be a low probability. that will be high impact and

investors are not positioned for that. >> nick, thank you so much for that nick garci, jpmorgan asset management before we go into another quick break, want to tell you that nl open fiber which is a partnership between the government and ennel they've been talking to reuters and say he expects the company to be net profit positive in 2019 he says they could list the company on the stock market in 2019 or 2020 shares in enel, the parent company, certainly up by 0.2%. still coming up on the show, find out why angela merkel's coalition plan may be facing a presh obstacle that's when we come back investi, looking from a fresh perspective can make all the difference. it can provide what we call an unlock: a realization that often reveals a better path forward. at wells fargo, it's our expertise in finding this

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hello and welcome to "street signs. i'm carolyn ross and these are your headlines spanish stocks taking a hit as madrid rejects the catalan leader's letter on whether the region has declared

independence. crude prices rally after iraqi forces claim large areas of kirkuk including oil fields and military positions. miners showing strong gains after asian shares hit ten-year highs. a surprise to the up side. a amongst plenty of other news good morning, everyone if you are just joining us, let's take a peek at u.s. futures and see how they are shaping up a few hours before the start of the trading session. state side, dow jones 32 points. s&p 500 could increase by 2 1/2. nasdaq up 13 points. this is after tech stocks outperformed last week rose 1.3% helping to push the s&p 500 into the black the nasdaq is up by a quarter of 1% by and large it was a pretty positive week. when it comes to the fx markets,

we saw the dollar struggling to some extent after we saw that weaker than expected riesz in the u.s.cpi. euro, 117.87 it is on the defensive again off by 1/3 of 1% all of the worries about spain, catalonia. we have the option elections and the german regional elections. all about keeping a lid on it. pound sterling at this point largely unchanged after raecing back tomorrow we get the all important inflation trends european equity markets look like this. we are slightly higher with one major exception and that is, no surprise, the eibex in spain is off by 1.4%. we're seeing the continued stalemate between barcelona and madrid worrying investors. xetra dax is up 0.19%. we are holding on to four-month

highs as we've been higher for the last four weeks in a row. catalon leader has asked the french prime minister for dialogue that does not clarify whether he has declared independence a letter was asked for beatings against the corporate police to be suspended the response was not valid we're joined on set once again and willem, we're anxiously awaiting the address to the government by the deputy pm. what do you think she is expected to say? >> she spoke last week she's become the bad cop to rajoy's good cop her last statement last week she said essentially they have no right, catalan, to impose any form of mediation. the spanish government will have

a talk they have said they would like to see two months of dialogue with the catalan government. he wants to say whether he has declared independence. he doesn't want to say he hasn't that would mean the fragmentation of his fractured commission in catalonia. she has repeatedly launched attacks against him. she's saying leadership like him should face criminal charges if things go this way she, i would expect, would come out with a slightly strongly worded statement on this latest letter and one manage this could be the moment when the spanish government announces they will, indeed -- >> do you think that could be as early as today >> no reason why not he said in the clarification request last week, rajoy, if there was no clear answer he would take it as a yes and there's not been a clear answer so it's going to be very difficult for him to back down from that earlier veiled threat

ultimately so the three days in which they would have had to roll back that declaration potentially could be moot at this point they haven't made a yes/no answer he hasn't declared independence. it's all confusing you're seeing the impacts on bond yields. a lot of the spanish stocks, even on the euro. >> sure. >> a lot of people watching the situation. a lot of people as confused, frankly, as you and i. i come back to the game of chess. they're making move after move after move it's not clear who's going to get the check mate both sides ultimately trying to push up the moment where they have to make a call and that could lead to potentially more violence in catalonia if, indeed, they move in with the authorities to take control of things that could anger a lot of catalan's who voted on august

1st. we saw those images. this is ordinary people, grandmas and stuff. >> why do you think they didn't come out with a yes or no answer simply because he department know or because he was well aware of the dilemma he's facing if he says no, he's losing support from the c.u.p if he says yes he might invoke the article of triggering 1.55 >> i don't know what's in his mind lawmakers are saying this man is having to thread the eye of the needle that means buying himself more time, bringing some of his allies, joint ministers on board with a strategy they can rely on and they're trying to portray the spanish government of being heavy handed just as you did last night, last tuesday night

trying to talk to the catalan constituency and international constituency saying, spain, don't get too heavy on this. leave the guy more room to dialogue he's only trying to be reasonable that seems to be what his advisers, the conversation i will last week. >> willem, i'm told we're still waiting for the deputy adviser you're going to stay on set. i don't know whether people in madrid are on time she is fashionably late for her address at this point in time. we'll get back to it as soon as we see her appearing on stage. now in other news, president trump's decision to remove obamacare subsidies have drawn criticism from both sads of the aisle. susan collins said the move will hurt low income americans. with current government spending measures due to expire in december, nancy pelosi says trump's actions may make it harder to secure support in what the republicans hope will be

successful bipartisan talks. let's get the roundup of the weekend talk shows the backlash was pretty fierce, wasn't it? >> even from his own party, the republican party that supports the president, many of those folks are saying the president doesn't really understand what these subsidies do the president signing that executive order saying that he's cutting payments directly to insurance companies. however, governor john kasich who ran against the president during the primary race, governor john kasich said these are subsidies are paid to insurance companies to keep premiums lower for americans 56% of people on obamacare are low income by law, their rates are capped now what we're going to see is the other folks, everybody else on obamacare, is going to see

that happen. that could be the hard working family, many of whom voted for president trump. latest research by the associated press showing that the hardest hit areas could be wiscons wisconsin, kentucky, florida these are all states that voted for president trump to get him elected in office. now the president hoping that by this executive order he's going to nudge congress in order to get something done related to repeal and replace obamacare it still remains to be seen what happens. democrats are entrenched that they do not want to replace obamacare. they want to make adjustments to it republicans are saying they need to repeal it and figure out what the replacement will be. caroline. >> thank you so much for that update. until the first bomb drops, rex tillerson talks about his negotiations with north korea. they're going to decertify the nuclear deal with iran

jennifer johnson has more from washington. >> two weeks after president trump told his secretary of state he was wasting his time negotiating with north korea, today a more conciliatory tone from the white house. >> made it clear to me to continue my dip pllomatic effor, which we are those diplomatic efforts will continue until the first bomb drops. >> reporter: the president not seeking a war despite tweets to the rocket man >> mr. president, will you attack north korea >> reporter: the president's seen as defending his decision friday to decertify the 2015 international nuclear deal with iran saying it's violating the agreement. >> when the international community gives iran a pass for all of these things, the ballistic missile testing, arm sales, support of terrorism and they all look the other way in

terms of keeping a deal, then you're looking at something too big to fail. >> haley says the u.s. is preventing iran from becoming the next north korea >> there are no limitations on iraq's -- iran's ability to develop ballistic missiles, including an intercontinental ballistic missile which could reach us. >> democrats are critical of the president's actions. u.s. allies on sunday spoke out against the president's decision great britain and germany both saying they remain firmly committed to the agreement with iran jennifer johnson, nbc news, washington. let's take you back to europe conservatives have declared victory in the general election despite falling short of an overall majority former foreign minister ran on a right wing platform is now likely to form a coalition with the populus party.

if the coalition talks work, he would be the youngest prime minister at the age of 31. germany social democrats have defeated angela merkel in lower saxony they won 37.3% of the vote in the state elections with the christian democrats taking 33.4%. the represent represents the poorest showing for the cdu in lower saxony in 58 years they're covering the fallout from this northern election live from frankfurt pretty good news for schultz but awful for angela merkel. she goes into the crucial coalition talks. >> reporter: yes, that's right angela merkel's position is clearly weakened according to many commentators here on the ground and also in berlin. while the ramifications from the loss in the regional elections in lower saxony are that those

coalition talks might be more difficult than previously thought. lang merkel's party had it clear for them it was widely expected at least back in summer that they will win those elections but they're saying rating them was around 40%. that outcome now, as i was saying, is being brought and the move to the right. that comes from critics inside her party but also from their sister party, dsq. we're seeing that victory evolves there from mari. it's a clear sign that they want a conservative party and they

want a right centrist party. the critics come from both sides nowand it will be quite tough for angela merkel to start the coalition talks. talking about coalition talks that will start this week, they all want bed to wait until the regional elections are out of the way. so by wednesday the parties can start to talk to each other and by friday is the official kick starting day for the official talks in germany. >> thank you so much for that wrapup of the weekend results. ahead, the battle with bitcoin continues. jamie dimon slams them in his most recent outburst. >> there is a use for bitcoin if you live in venezuela, north korea, if you're a criminal. great product. they have passions to pursue. how do they avoid trips to the post office? stamps.com

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now this is pretty entertaining jpmorgan ceo jamie dimon vowed he would never talk about bitcoin again. a day later he was inevitably

drawn back into the crypto currency conversation. dimon said bitcoin was the, quote, currency of criminals he added that anyone stupid enough to buy it would pay the price one day. take a listen. >> i could care less about bitcoin. i don't know why i said anything about it the block chain is technology. it will be used for a lot of different things god bless block chain. crypto currency, digital currencies i think are also fine jpmorgan moved $6 billion around the world every day. we don't do it in cash it's done digitally. it can be done digitally with the block chains but it would still be a dollar crypto currency what i have an issue with is a non-crypto currency dollar, crypto sterling, euro, yen, they're all fine i don't personally understand the value of something that has no actual value. you all do what you want and i don't care. >> meanwhile, speaking to cnbc at the imax meeting in

washington, they said crypto currencies are here to stay and the government could no longer remain on the slooin. >> crypto currencies are a fact of life and which legal entities and private individuals are already working, therefore, we need to create a legal framework for the operations we need to control the operations, therefore, the state, in our view, definitely needs to interfere and regulate the process. crypto currencies, one of the elements of money equivalent, one of the elements of pyramid schemes in the final analysis that harm individuals or private investors. they cannot stand on the sidelines in regards to processes such as these. >> they're outperforming in early european trade with investors buying into it china's consumer price index

slowed in september and it's at 6.9% year on year higher than market expectations. it rose 6.1% in line with expectations speaking to cnbc at the annual meeting in washington, imex managing director said more rebalancing is needed in the chinese economy. he cautioned on the sustainability of debt among consumers in the country. >> the economy needs to continue to, you know, move to more consumption economy rather than in light of the investments. so more rebalance should move on and go on. it's already happening it continues during the same process the -- you know, the credit -- rapid

credit expansion needs to pay closer attention and we observe that the authorities are taking these measures already have the early positive result. i think generally most people think that the economies are more robust but obviously the debt stock has risen so does that imply a much greater sensitivity now to tighter monetary conditions given that the debt servicing ratios are so much higher? >> people in the past few years taking advantage of the lower interest rates and all that type of thing financing costs. maybe it continues to take that last advantage, but soon are

when the conditions rise the financing costs first of all include the increase and more and more if you -- the private sector and including private sector as well don't pay enough attention to it, then the people will kind of lose out, searching for, you know, commercial loans and more and more and then not become maybe issues. so the bottom lines would recognize, you know, in terms of development of these emerging markets, low income companies, have huge development leaks. they need to pay attention how better use of this money in a smart way. make sure these are private

sector spendings or new borrowings could be sustainable. >> one doerr if you have could talk about the imf view as to what it would do in the region and then perhaps what other political initiatives that might come that would be useful to accelerate to higher rate of growth >> i think these are potential they have a high potential over there. at the same time, back to my earlier point, we need to make sure first of all the macro framework is right so that the financing need can be properly accommodated and, second, of course, the -- whatever the monies flowing into the countries need to have a capacity to absolve it. in other news british prime minister theresa may is heading to brussels to meet with top

european officials she will sit down with european president commissioner juncker and barnier. and on a programming note, cnbc will be speaking to the u.k. chancellor later on today. tune in to that interview at 9:20 a.m. eastern. very briefly, willem is still on set with me we are waiting for the brittain prime minister to speak. do you expect phillip hammond will hold on to his seat >> i don't see her expecting him. she's drawn to that team seen by many other people on the other side of the aisle

including labor, they're talking about him and the idea that he's had eight european ministers open to his country house, moving them away to 2017 and theresa may will have dinner with jean claude juncker >> anyway, thank you so much for that. in other news, california firefighters say they have turned a corner against the state's deadliest wildfires in history. two of the three most destructive fires are now more than half contained and people have begun to return home taking the evacuation tally down from 75,000 the wildfires have claimed 45 lives. ireland and northern ireland are bracing for tropical storm aphelia. schools and hospitals are closed the army has been deployed as

meteorologists warned of wind gusts of over 130 kilometers per hour hurricane force winds are expected in ireland's southern post imminently while tropical storm winds may be seen in wales and north and west of england. as i told you over the last half hour, we are still expecting to hear from spain's deputy prime minister reacting to spain's move with catalonia the ibex 35 is now close to session lows again tra by 2/3 of 1% xedax, up. that's it for today's show worldwide exchange is up next. see you tomorrow bye-bye.

♪ can i kick it? ♪ yes you can ♪ can i kick it? ♪ yes you can ♪ can i kick it? ♪ yes you can ♪ well i'm gone

to rally again as earnings season heats up. this week's agenda coming up. oil prices jump as iraqi moves in apple just got a big upgrade despite all of the iphone production concerns. monday october 16th, 2017. worldwide exchange begins right now. good morning very warm welcome to "worl