the stoxx 600 has fallen by 6%. the fear is there is a limit.ned in july 2012. the stoxx 600 is up by 40% since then. the fear is maybe he will not do whatever it takes. maybe he will not allowed the big bazooka and by sovereign debt. volatility is rising as well since those june highs, since when the stoxx 600 was at its highest level in six years. those were the call must days for volatility in seven years. volatility was at a seven-year low. index, then fear volatility index has more than doubled. it closed at a two-year high. the stoxx 600 is in a correction mode. the big question i am asking, is it down to mario draghi? x he -- heathrow and other airports have started screening passengers arriving from countries affected i ebola. how effective is this kind of screening? >> when those passengers are ,rought to the public health staff will be at the airport. asked a series of questions through questionnaire and have their temperature taken. if there is anybody we have concerns about that may be a risk to the public health then there are power

a muted open for the european stoxx 600. activist investor carl icahn tells cnbc, new risks are forming. >> the high yield market is in a bubble. i think that sooner or later, it's going to -- but i'm not telling you next week or next month. that doesn't mean i'm right. in fact, i'm losing money on it right now. i think that that is a no-brain no-brainer, also. >>> yahoo! shares jump in frankfurt with better than expected third quarter revenue. but the pressure is still on as the company's online ad business continues to struggle. >> it's a mixed for earnings. >>> and david tapper turns bearish of the euro, taking a bet on further ecb easing. >> and we just had the minutes from the bank ooh england's meeting two weeks ago. as expected the vote was 7-2. mr. wheel and mr. mccafferty, the two that still continued to vote for a raise right. the other seven members continued to vote to keep rates on hold. we're going to bring in helia and advance. as expected, where they were, two out of nine votinger for a rate increase, lasted

the euro stoxx 600 is down 2.6%. stoxx auto volatility has hit 35.5. will that carry into u.s. trade? that's it for today's show on "worldwide exchange." i'm wilfred frost. >> and i'm seema mody. "squawk box" is next. tomorrow. dads don't take sick days, dads take nyquil. the nighttime, sniffling, sneezing, coughing, aching, fever, best sleep with a cold, medicine. >>> good morning. breaking news, that nurse, the second one infected with ebola was granted permission to travel on a plane. this raises more concerns about the government's ability to control the spread of the deadly disease. >>> and ebola was among the many fears impacting the markets. stocks managed to bounce off their lows and gain back 400 points. in any event, the dow closed down almost 173 points. but here we go again. u.s. futures are doing this morning opinion. >>> and shares of netflix taking a big hit after subscribers numbers came in a little bit light. don't look now, but hbo is getting right into your backyard. is sate here. i guess they meet netflix's. it's october 16th, thursday, 2014. the world is st

that's the stoxx 6 of 00. let's have a look at the stoxx 50. down a dim lar arm, 0.3%. there has been possible data, but more importantly, there is a lot of data coming out today and that's giving a lot of uncertainty. we also get the industrial production as a eurozone as a whole which follows the individual countries we've had over the last few weeks. the ftse 100 is off 0.36%. france off exactly the same amount. italy is flat. let's go on to bonds. we have seen a lot of tightening in the yield surf over the last few weeks as people post to safety. in the u.s., 2.42%. germany, 0.89% below 0.9%. it happened significant lit in the uk. 2.11% in the start of october. as a relative trade within europe, uk seen as a safe haven as growth outlook at got worse and italy the yield at 2.34%. let's look at forex. the u.s. dollar has just come back again after the last day, of course, the last week and the first day of this week. the u.s. dollar weakened off its recent trend. we had that weak italian inflation data out. the u.s. dollar backed against the yen 0.4% up. aussie/dollar

the stoxx 50 is down .40%. look at the individual markets, germany had a massive 4.4%. it continues today. the ftse is put on negative watch as a lagger down half a percent. italy down .40%. the u.s. bond market is closed but it's columbus day. on friday we saw the 30-year go to the lowest levels in almost a year. the rush for safety which has happened in the u.s. bond market happening in pretty much across the board. the 10-year german is below. and the u.k. at 2.2% seeing compression over last week with a relative safehaven in europe. italy is at 2.3%. and france is on 1.25%. if you would have held out, you would have made 48%. why would mario draghi do quantitative easing when he could have created this opportunity for the government to carry out supplies. we'll look at the u.s. dollar on friday, it was the first week in 13 that didn't post outright gains. we can understand why u.s. equity risk assets are doing bad in the face of weak global growth, but why the dollar as well that is usually a safehaven trade. today it's at 1.2673. the u.s. dollar is weak against the

in the meantime, let's have a look at the europe stoxx 600. we are in positive territory, 0.3%. nothing to do with the session we had yesterday in the united states. positive impact on the asian markets this morning and this is what's happening at the start of trading in europe. health care sector on the down side with, of course, sanofi very much in focus. we'll look at the stock in the details in just a moment. the real estate underperforming. the european markets at the start of trading. basic resources, up 0.9%. auto sector, up 0.7%. oil and gas in the industrial sector, much higher at the start of trading. let's have a look at the different markets in europe starting with the ftse 100. up 0.5%, almost at 6,432 points. let's have a look at this british market with a significant decline for the stoxx 6.3% lower. next, full year profit guidance to between 750 and 790 million pounds. as rates on demand for its winter tock. let's have a look at this announcement. very negative reaction. >> yeah. it took a blow. i think we knew that it would gain from estimate. we know the full y

the stoxx 600 up 40% in the first few minutes of trading in europe. plenty of sectors to watch this morning, but two of them, really important, the first one is the financial sector, of course, on the back of the fed and also with the earnings from barclay's. the other sector, the cost sector, again, earnings this morning. that was yesterday after the market close sector. with the chemicals up only p 1%. gold, utilities at the other end. the car sector, best performer in the first minutes of trading up 1.3% with renault trading 4.5% higher. we'll come to this in just a moment. oh, yes, and the banking sector up 0.9% at the start of trading. before we look at the details, steve? >> the third quarter preliminary gdp is coming up 0.51% quarter on quarter. that is in line with forecasts and slightly lower than the second quarter. the second quarter has been revised on an annualized basis, 1.2 3% from the previous 1.2%. but in the third quarter, the year on year figure is up to 1 is.6%. the cpi number is in there, as well. there is no inflation in southern

the stoxx 600 is down 1.67%. that's the lowest reading for 22 months.oming to the individual markets, the german dax index is down with weakness across the board, which is a stark difference from two hours ago at the open. >>> looking at u.s. futures indicating a mixed open as investors digest weaker than expected out of germany. earnings will be in focus for the likes of merck and amgen. that can change the story here as we have seen the couple of days. we'll get you a run down of what to watch this trading day. the september read on pending home sales is out at 10:00 a.m. with forecasts calling for a 1% gain. previously august readings were at 1%. october's dallas fed survey is a jam-packed day for earnings. lookout for results from merck, allergan, amgen, t-mobile, twitter and buffalo wild wings. >>> we have within talking about the keep who tweeted her first personal message over the weekend. we have been asking whether the queen's first tweet is good or bad news. is the site running the risk of losing its cool status? well, john tweeted in and said

bank out the stoxx 600 index. look at this index since 2007.is still down nearly 60% from the precrisis peak. .his weekend we get the check isn't the reason to worry or the final obstacle before the recovery? i look at that chart. it has been bouncing around for the last five years. have we reason to worry, or is this the final hurdle? banks have regulation. we saw that on both sides. u.s. banks ended up outperforming because they were fighting back assets, which isn't necessarily going to happen in europe just yet. used as anhas been excuse to not by the banks. , theore work we have done banks have raised a huge amount of capital in the last 12 months. mix of capital ratings exercises. he have found the position was a lot lighter than it was. even in the last selloff you can see the banks have outperformed. they have performed a lot better than you would have expected given the volatility. we have so much momentum. the exercise needs to stay credible, but there are going to be small banks on the periphery. we are not talking about the gap in i

the biggest gainer of the stoxx 600 is a finnish telecom company, better than estimated.hat more could you ask for? up by 6.5% and a bit of change. >> there are your three big stocks to watch, here are the big top headlines. u.s. stocks rallied. jim bullard suggested the fed consider holding off on ending the bond program at the and of this month. a halt to decline expected in inflation. bloomberg they said fundamentals remain strong in the u.s. but your -- weakness in europe is to blame. >> for a long time they said the qe program would be open ended and we would be able to adjust it in response to developments, this is a serious macroeconomic development. >> vladimir putin is threatening to cut gas supplies to the ukraine if the government and kiev diver fuel for domestic consumption. chancellorthe german angela merkel criticized the government. sales, extendr the game for the 13th straight month. it hit a 2014 low in august. registration increase by more than 1.2 million in march of this year. another top story we're shoemaker,he luxury braces for market volatility and

the stoxx 600 travel index down by 1%. for the fourth consecutive day.t is the longest losing streak since the beginning of august. the u.k., will start screening travelers, screening for ebola. happen on the euro star as well. sector market story rather than a stock specific story. >> three top headlines. the u.k. will start new ebola screenings at airports. the move comes as the u.s. has started a similar policy. implements to screening tests for passengers arriving from west african countries with high rates of ebola. european uniond independence party has won its first seat. after the vote after defecting from the conservative party and august. that puts more pressure on david cameron was promised a referendum on eu membership. draghi president mario plans to move the management policy if necessary at the annual meeting in washington dc. meanwhile wolfgang shows a warned against continued to terry discipline. warneds after the imf that the euro area could slip back into recession. let's talk but something we already knew. let's talk about china. leg

the stoxx 50 is down a similar amount. looking across all the individual markets, a little bit of red across the board. stephane joins us from paris with more. stephane. >> good morning. the global sales for kering were quite good. the number was higher than expected. but it's only due to the stronger performance of the life science fortune and actually, puma posted for the quarter a 6% increase of its sales. but, as you mentioned, in the luxury sector, the main brand, gucci, did not fare very well on the quarter. it follows a 2.5% decline. gucci is a key indicator. gucci makes 65% of the profits at clearing. speaking at a conference call yesterday morning, the cfo of kering said gucci probably hit bottom in terms of revenue in the third quarter, but it declined to say when the brand would probably return to growth. gucci is suffering from weakness in asia why and declining sales in small leather goods. the performance of gucci is really disappointing. the main fashion brand of the rifle posted a 2% growth in the third qua

europe stoxx 50 are down to 2,936. so investors still seem to be on edge given market turbulence and also for renewed global growth concerns. >>> as we look at bonds in the story for october, it's one of yield compression. but we have just come back off the lows we saw on wednesday and thursday last week, nonetheless the ten-year treasury is at 2.2%. lower than where it was trading in september ranging near 2.4% to 2.6%. the german ten-year gilt is at 2.17%. italy, 2.5%. we'll look at the u.s. dollar which has given up ground over the last two weeks has a bit of strength today. particularly against the yen which has seen the nikkei trade up. euro is flat. 1.2765. and the aussie dollar is bouncing back a little bit. >>> shares of tesco are trading higher after some of the world's private equity groups say they are planning to make bids for the asian business. this and other reports suggest that the internal investigation found evidence of inappropriate behavior by staff. we are joined in the studio now by halle with mor

the stoxx 600 is off 0.5% today. the stoxx 50 off a similar amount -- well, actually, it says roughly flat. let's look at those individual markets. if you would think looking at the sectors, the likes of autos, the likes of travels, utilities is the only outperformers. the ftse 100 is out 0.4 pergs. germany is down 0.6%. france off just a little bit. let's look at bonds. panic selling in equities yesterday also meant panic buying in bonds. that follows the imf forecast only slightly downgraded its global growth outlook for this year and next year. nonetheless, a flight to safety. u.s. treasury down 2.34%, quite a significant move. gilt down a lot, 2.247%. germany only moved a little bit, but nonetheless, only very low, 0.888%. let's look at forex, as well. unsurprising to see the euro move down, given that weak data out of germany. the dollar bouncing back a fraction against the yen, the yen has strengthened earlier this week, just over 1% and giving up some of those gains. quite a big move in sterling. both the u.s.

the stoxx 600 finished september basically flat. they finished q3 fractionally down and that's how stock is exporter basically flat, but fractionally down, lacking momentum. where is that weakness coming from today? there's a bit of softness in the u.s. and continued weakness in asia despite hong kong and chinese markets being closed today. as you can see, a little bit of weakness in europe. the ftse 100 is down the most, down about 0.5%. we had final reading of pmi coming in about 20 minutes time. the rest of europe, as i said, fractionally weak, but broadly flat. we have had that data out of europe. we think that made more movement on the euro/dollar. those individual stocks, sainsbury trading in the red. it will review its dividend policy. the group is going to cut sales forecast following a fall in second quarter trade. it's off 3.5%. tesco is off 3%. britain's watchdog has started a full investigation into the company after the growth value last month. morrison is down the most of the big food retailers and that's brought down

the stoxx 600 is down today in trade. it's down about 0.6%. nonetheless, u.s.utures expected -- >> but remember, we started higher in the u.s. and ended lower. so still remain toes be seen. >> and that's all we've got time for today on "worldwide exchange." i'll wilfred frost. >> i'm seema mody. "squawk box" is next. >>> good morning and welcome to "squawk box." making news, a second health care worker in dallas who provided care for patient zero, ebola victim thomas eric duncan, now testing positive for the deadly disease. >>> the oil squeeze, how the facili fallout in the slide of crude is rippling through the markets. the slide, oil, any idea whatever happens. >>> and inside intel, provtsd as the chip giant grow and the stock moves higher, it is wednesday, october 15th. right in the middle between april 15th. i think it's six months since the democrats favorite day as 2014, "squawk box" begins right now. >>> good morning and welcome to "squawk box" here on cnbc. joe kernen doing the math on when tax day is going to be and where we are. joe kernen is here. i'

. >> mean while, alcatel lucent rallies to the top of the stoxx 600. >> another day, another bank takes a litigation hit. barclay's sets aside more cash to cover a british probe. >> vw and renault shift into top gear. both carmakers cite a recovery in europe. >> announcer: you're watching "worldwide exchange," bringing you business news from around the globe. >> and a historic day for wall street, the central bank announced an end to the monthly bond purchases known as quantitative easing. that helps gains and increase the fed's balance sheet to a record. the question is do stocks continue to outperform despite no qe. but they do point out that the s&p 500 is higher by around 11% since the day before the taper was first announced. we're looking at futures right now. a mixed session right now, dow jones industrial indicating a higher open. the s&p 500 trading at 1,974. and the nasdaq will continue to be in focus. a lot of earnings including gopro. now in terms of stock, specific action today, barclay's has set aside 500 million pounds or $800 million in provision toes cover foreign excha

it's trading near the bottom of the stoxx 600 after it posted weaker than expected sales in the third quarter. the french drugmaker warned that price pressures for its diabetes franchise would continue into 2015. sticking with pharma, the drugmaker novartis has reported a 4% annual increase in sales to $14.7 billion, this despite competition from generic blood pressure pill diovan. so mixed pressure is so far this day. but markets moving higher right now. >> a lot of green on the heat map there. let's have a look at the individual markets. in general in the green today, partly because of some of the earns seema has been mentioning, but because yesterday was a weak day for european markets. yesterday kicked off strongly after the ecb stress tests, but sold off on weak german ifo confidence data. bouncing back a bit today, as you can see. italy, strong, almost 2% in the green. france is up 0.6%. germany, 1.3% in the green and the ftse 100 is up 0.5%. what does that mean, seema, as we look ahead to u.s. trade? >> well, yesterday was a mixed day of trade for u.s. markets, wilfred. the s&p

the euro stoxx 50 closed at 3138. and across the atlantic, the dow got off to a good start initially but then went down ending the day it 16,995 and the euro currently trading at $1.26. before we let you go, we want to head to west africa where two years ago, islamic extremist took control over northern namai and instituted strict sharia law. rice was historic sites and destroyed it euro placeable artifacts. >> as the islamists wreak havoc, one man risked his life to save age old manuscripts from the world-famous library there. germany is honoring him with a special africa prize. >> a guard makes his rounds at the commemorative library in timbuktu. but there is anything -- there is barely anything left to protect here. ancient african and arabic works of poetry, history, and law. today, there is virtually nothing left after the documents were taken to an undisclosed location. they were smuggled out of timbuktu in the cover of night. he is the man behind the dangerous rescue mission. he spent two years and travel thous

the dax index -- euro stoxx also up by more than 3%. the dow is up to 16.3 -- 16 375. >> hunger, disease, and civil war are pushing more refugees into europe. more than 3000 refugees are expected to come to germany this year alone. , the influx is leading to anxiety amongst municipalities who are struggling to deal with all the red tape involved. >> and the final on our three-part series in germany. >> right next to the nikolai church is the new home of -- the two refugees fled cameroon three years ago. they travel across africa and ended up in a german refugee camp with hundreds of others. now inside an old block of shacks they finally have a home of their own. on the ground floor a few others are helping to put a garret -- put together an area where they can hang out. >> it is calm here. the germans like us. if i am out on the street they always stop and say hi. we are able to integrate well here because we live in the center of town and other areas further out. there is a lot more racism. >> integration, not exclusion, that is the go

the dax was up .5 percent on the day, euro stoxx on more than one point. in new york, the euro currently trading at $1.26. >> berlin is getting a facelift courtesy of the british star architect. >> the art museum will shutter its doors for three years. >> a taste of what stick him? let's take a look. >> they install the forest in the upper hall of the gallery. a clearing among the 144 trends left enough space for the press conference. with the famous glass construction, chipperfield refers to his exhibition as an intervention devoted to architecture rather than art. >> we thought it could be interesting to put columns in the column free space. and to play with the essential issues of architecture. a very intense moment of architecture supporting and creating space. >> it draws attention to the very construction in which it is housed. it serves as a prelude to the upcoming renovation. the building has not been touched for half a century. >> reconstruction, a new beginning, and hopefully a new building that will serve as an extension in which we can reliably

the stoxx 600 is up 0.5%. let's have a look at the stoxx 50, as well, which is up pretty much exactly the same amount. we have a little bit of impetus in markets so far today. not totally surprising, given the huge amount of volatility and the negativity that we had last week. as you can see, a bit of strength across the board. the ftse 1 is 00 just shy 0.5%. germany, italy, france just ahead 0.5% in the green. let's have a look now at some individual stocks. in the news today, apple is up 2%. all eyes on u.s. trade, how will apple open when we get there? arm is, in fact, flat now. shares were trading higher despite the designer reporting disappointed revenue. they were high off the earnings of apple. actelion raised full year guidance for the second consecutive kwarder. 6.45% in the green. swedbank posted better-than-expected earnings. michael spoke to the ceo about his view earlier about the bank's upcoming stress tests. >>> hopefully we see that the stress tests are for real and that the european banking se

it is the euro stoxx 50 also got a little bit of a bomb but not as much as in new york or the dow jones industrial average settled the day more than 1% higher. the euro dollar however is trending lower. one euro gets you $1.26. >> tim cook, the ceo of apple has come out as gay. he made the announcement in an essay published in the bloomberg businessweek magazine. he has long been a supporter of gay rights but has never publicly acknowledged his own sexuality. >> he wrote that he hopes his public position may make things easier for other gays and lesbians, the most prominent is nick -- business executive to come out of the closet. to an archaeologists dream, they have been uncovered at the ancient city right outside of mexico city. >> it is the result of a year-long exploration of this site and more important fines might be on the way. workers have discovered three more chambers that can hold treasures and keys to the past. >> it has been sealed for nearly 2000 years. the entrance to the underworld. researchers have been looking for more than a decade for this tunnel that takes the 103 m

the stoxx 600 is down 0.7%. we look at the stoxx 50, as well. that itself is down 0.7%. aside from the individual markets, this weakness led by germany today which had further weak data this morning as it had done yesterday. german market down 0.6%. there are pockets of strength. the ftse 100, despite being down 0.6%, does have quite a few gainers in particular the mining stocks. france down 0.7%. italy relatively outperforming is just below flat. let's look at some individual stocks. tesco got a boost today, up 1.6%. following a report the private equity firm cbd approached the retail uk giant for a bid for its data gathering subsidiary. the deal could be worth over 2 billion pounds. meanwhile quarterback reports say tesco suspended another senior figure after investigation into its $250 million pound of overstatement. uk listed cann energy up 10%. its joint venture partners will carry out a further evaluation to examine the extent of the source. lufthansa down almost 2% after pilots on its cargo flights will walk out. that will start tomorrow at 1:00 a.m., due to end t

the stoxx 50 lower by nearly 2.5%. the dow is currently in positive territory. euro at $1.26. >> train drivers from germany's national railway floated to walk out over a pay dispute. the work stoppage could come as early as monday. >> the union representing the train drivers says that 91% voted in favor of the strike. the union is seeking a 5% pay increase and shorter working week. the company says the union turned down a 2% pay hike. >> the paris motor show is starting, but despite all the glitz and glamour the industry is feeling the tension. >> germany's fake brands are not being there. -- kid brands are not being spared. >> paris and the auto salon car show. although votes are you are -- are as busy as ever, sales stalled. volkswagen launched its new passat. the vehicle has long been a steady earner for vw. industry eyes are looking east. russia is a major worry. sales are so slow, production has been reduced. >> we are looking carefully at what is happening in russia. we have two factories there, so sales are important. we're keeping a close eye on russia.

shares are jumping on the stoxx 600.t iliad's shares jumped.ly, they had many investors sought may ig.obile was to b rbc capital and kipling raising accommodations -- raising recommendations. >> what will martin bouygues make of this? shares are up. been eyeingle has telecom. iliad tried to get their hands bouygues telecom. there is speculation about more consolidation in the french telecom sector. >> things to watch and stories to be broken. fascinating stuff. caroline connan joining us from paris. what else have we got on "the pulse"? another exclusive. live with the ceo of christie's. forussing the market masterpieces. it is frieze week in london. ♪ >> good morning. welcome back here you are watching "the pulse." johnson.ondon, i'm guy top headlines. travelers flying through heathrow may face serious delays. passengers arriving will be screened for ebola by being questioned and having their temperatures taken. the health secretary says he expects britain to face a handful of ebola cases. mario draghi's pledge to do go

the stoxx 50 was down 0.6%. across the atlantic in new york city, they are still trading. things are looking down a bit less than 0.2%. at the moment the euro is down against the dollar. here in germany, travelers have been facing more uncertainty. pilots for lufthansa's budget airline german wings started a strike at 12:00 local time. >> 100 flights have been canceled, most of them domestic. it is the seventh strike at lufthansa this year over plans to scrap an early retirement scheme for new employees. it comes a day after a 14-hour strike paralyzed germany's national railroad. germany has launched a new textiles alliance in berlin today. the goal is to help move the international tax tiles of light chain -- textile supply chain to better labor and environmental practices. >> it includes 29 industry associations, but many key players in german fashion are refusing to join. >> those working in asian textile factories can barely survive on their wages, but many risk their lives on a daily basis. last year, more than 1000 workers were killed when a factory in bangladesh col

down by 10%. 50 fall byro stoxx more than 10%?a whisper away. >> let's see why the ceo of hong kong said protest cannot be tolerated for long. let's go to david tweed. what do you see? >> i am in the middle of two groups of protesters. it looks to be made up of six or 700 older chinese men. polices one group of holding back the anti-occupy protesters and another group that appears to be protecting a small number of pro-democracy protesters. police have been trying to negotiate with protesters to try to get them out of this area, i think because they are concerned from potential violence protesters. >> what is the police presence like? is it markedly different? >> it has been different from this morning. presence fromge police. it looked like the police are going to march on the barricades. they walked away but came back theoon as we saw wereoccupy protesters coming into the area. >> david is joining us from the protests. >> regulators in the u.s. and the u.k. will carry out their first wargame. simulate aes want to cross-border pr

the euro stoxx 50 pan-european index ended at 3000 even for the day. across the atlantic, the dow jones industrial average -- they are still trading. it's down by .2% at the moment. the euro for the moment is slightly off against the dollar, $1.2651. >> five years ago, 20 international power and engineering firms signed up to build solar power stations in the desert in africa. the aim was to provide up to 15% of europe's electricity needs. >> five years later, the initiative is left with just three of those partners. the others have abandoned the project due to rising costs and political instability in the region. >> it was hailed as one of clean energy's brightest hopes. giant solar and wind energy complexes delivering electricity from northern africa's vast desert. energy far beyond africa's borders. the super grid would transport the electricity to europe, but the 400 billion euro price tag scared off investors as the arab spring revolution swept the region. young's went from bad to worse. many investors began to turn their backs on the project. tod

euro stoxx 50 and packing games by about the same. -- gains by about the same.dow is up about 3% higher. and the year of is slightly up against the dollar at a value of one dollar 26 -- $1.26. even if you're the kind of person who thinks beauty contests are demeaning and best left in the 20th century, i think you need to take a look at this one. the miss goldfish pageant. look at her. some 10,000 shapely fish will live for the title of most -- will vie for the title of most beautiful goldfish. the fish are judged on their figures and facial features as well as their general color, and don't forget their bathing suits. but but there is no bikini. -- >> but there is no bikini. >> that is going to wrap it up. thanks for watching. ♪ ♪ >>> this week on "wealthtrack," a value investor who is willing to sit on large piles of cash, while others invest in what he considers to be overvalued markets. iva worldwide and international funds co-portfolio manager charles de lardemelle explains why patience is a virtue. next on "consuelo mack wealthtrack." ♪ ♪ ♪ >> announcer: ne

the euro stoxx 50 finished almost 4/10 of a percent lower.cross the atlantic, the tao continues its -- the dow continues his roller coaster ride after rising yesterday. it sunk again today by almost 2%. and the euros is trading at $1.26. with neighborhoods reduced to rubble and people still mourning their dead, the new palestinian unity government has held its first meeting in the war battered gaza strip. it is a political step that many see crucial for the recovery in gaza. >> hamas has been recognized as a terrorist organization by western governments. >> this marked more than seven years of talks. i'm -- the prime minister said the first priority must be rebuilding hearts of gaza destroyed in this year's war with israel. he's also keen to get out and meet ordinary people. rebuilding costs could run into the billions of dollars. we are optimistic about this visit says this man. it means rebuilding and unity. >> we will be right back after a short break. we will be going to major celebrations underway marking 25 years of protests that help t

the euro stoxx 50 is 0.8% up, and the euro is that $1.25. >> as the paris motor show gets underway, frenchmakers are hoping for a bit of light at the end of the tunnel. >> the last few years have been pretty dismal for the industry, but with new models on display there is reason to hope things might turn around. >> france's president went along for the ride. >> sleek, sporty, yet family-friendly, the new renault espace is just one of many new models aimed at pulling the french automobile industry out of the doldrums. french president francois hollande knows it is an ambitious task. making the rounds of the paris motor show, he urged carmakers to increase investment in the future, especially in new and environmentally friendly technologies. despite some recent improvement, french car sales are still very low. the crisis is affecting the country's entire automobile industry. factories are closing. people are losing their jobs. french carmakers have slashed 25,000 jobs over the past five years. the cuts affected one out of every six workers in the industry. psa peugeot citroen, the sick man a

the stoxx 50 up 0.75%. let's look at individual european markets. as i touched on just now, we did have negative moves earlier in the dax and the cac. both are up now close to 0.75%. so quite a big turn around over the last half an hour. markets moving sharply off the back of those pmi datas which were stronger than expected. the ftse 100 is a relative laggard across the region. i it's weighed down heavily by tesco. it's flat so far overall. italy up 0.6%. let's drive in to some of the top stocks. shares of nova design up 6.85%. unileaver is down 2.35%. shares trading down to the downside after the group reported in a weaker than expected 2.1% rise in sales. daimler was basically flat. it was a little lower earlier. publicis off 2.44%. stephane will be joining us during the next half an hour to discuss that specifically. let's look at bonds. bond yields in the u.s., 2.23%. the story really here is one of -- over the last week, but just coming back up. yields over the last week or so after the extraordinary moveses we saw last week. yield compression

euro stoxx are also down by nearly the same amount. the day is not over yet for traders in new york, the dow jones is currently down by almost 1.5. the euro is trading at one dollar and $.26. >> for more on those alonzo -- the solano -- zolando ipo, a lot of fans are there. but this is a company that has only been profitable for one order. what is your take on that? >> that is just the truth of the matter. the fact that they have up to this year not earned any money, it may have been one of the reasons why the share price crumbled today. they have had big gains in revenue but only one profitable order. putting money into the company today is a big that on the future. >> rocket internet tomorrow, ste even bigger. what do you know? >> exactly, they are supposed to raise about 1.6 ilya and euros tomorrow. they call themselves and he later, a company that sounds online startup and finances them , taking one successful business model from one market and putting it to use in another market. for example, they founded an online clothing retail

the euro stoxx 50 up about the same amount. across the atlantic on wall street at this hour, the dow is down by nearly 0.6%, and the euro lower against the dollar. the big question, is a rivalry brewing in the electric car market? that's what some analysts are speculating in the wake of daimler's stake in electric carmaker tesla. despite the sale, the german company insists its partnership with tesla has been successful. >> just a few days since luxury electric carmaker tesla unveiled its model s. >> you can see you have a motor in the front and a motor in the back. >> the california-based company plans to have half a million units on the road by 2020, by germany's daimler is not sticking around. the auto giant has sold off its 4% stake to an undisclosed buyer. it will use the 630 million euro windfall to bolster its own operations. still, daimler says the partnership will not and. =-- end. they will continue to use has left parts and brainpower to develop new models, but the divestment has set up rumors of the once-close partn

elsewhere, the euro stoxx 50 was slightly negative. as for the euro dollar, one euro will get you $1.26. >> back to the united states now, with less than a week to go until the midterm elections in the u.s., it looks like a tight race with democrats facing an uphill battle to hold onto the senate. republicans already have the upper hand in the house of representatives. >> there are a lot of issues driving voters to the polls. the economy, health care, immigration -- that's an especially big issue in arizona, which shares a border with mexico. >> to find out more, our reporter talked with one congressional hopeful as he hit the campaign trail. >> in arizona, and this democratic candidate is running for congress. one out of five voters in the state are hispanic, and they traditionally lean towards the democrats. gallego needs the support to win. >> a vote for me because they understand i care about the issues they carry about, that i will follow through on my promises to make sure we improve education, workforce training, and also try to

the worst performer on the stoxx 600 here in europe.are improving, but profit missed analyst estimates as did the dividend payout. tablet? be buying a that the home space they will be wiping out a quarter of their stores by 2018. tobacco, downican by 4% -- british american tobacco, down by 4%. clearly, much regulation headwinds to british-american tobacco. >> three stocks moving lower. the bank of england releases minutes from its october policy makers meeting this morning. investigators will be looking to gauge appetite. unexpectedly slowed and weak growth in europe dampened sentiment. russia has added new conditions for resuming gas supplies to ukraine. talks have failed to reach a deal. russia can't gas flows in ukraine in june -- cut gas flows in ukraine in june. russia and ukraine will seek to temporarily deal next week. the federal reserve bank in new york botched oversight of the jpmorgan office that led to the $6.2 billion trading loss. that is according to a report from the fed's office of the inspector general. they identified

euro stoxx so lower but not as much.oss the atlantic on wall street at this hour, the tao is trading higher -- the dow is trading higher. the euro trading higher against the greenback. >> the world bank and the asian development bank provide loans to developing countries. soon they will be joined by the asian infrastructure investment bank, a chinese initiative for finance and transportation, communication, and energy systems in asia. >> the project is seen as a counterweight to western backed international banks and a way for china to extend influence in the region. >> 21 countries signed a memorandum of understanding on establishing the bank. they include bangladesh, pakistan, and india. headquarters of the asian infrastructure investment banker to be in beijing. the chinese government is providing 39 billion euros and is set to be a major stakeholder. >> the asian infrastructure investment bank aims at promoting the infrastructure development of the asian region, supporting regional connectivity, and promoting the eco

in biggest one-day loss three years on the stoxx 600. you expect a rebound.he word. stabilization is the word. dead flat on the dax open in frankfurt. ibex down over 1.5%. ftse down almost 1%. the divergence between the periphery and what is going on in the core of europe. come on over to the bond market. when people talk about 2012, it was a very rough period. we were talking about exit risk in the eurozone. europeanay bet in the bond market is not playing out right now. look at the moves on the periphery. italian bonfield up by 12 -- bond yields up by 12 basis points. up 12 basis points on the day. it is a big flashing signal. .5% -- 8.5%. a >> the market is concerned about the politics as well. s a picture of a new ipad. was that a mistake? or was it a stunt? ♪ >> welcome back. bloomberg'srom european headquarters here in london. these are the top headlines. nestlÉ posted nine months sales that missed estimates. revenue at the world's biggest food company rose 4.5%. the company said it is still aiming for organic growth of around 5% for the full year. q4 u

stoxx index off almost 2%.p inutures we are the red as well, in particular the nasdaq futures down about 1%. selling as weue head toward the opener. on the market again in 30 minutes. apple is set to unveil its latest ipad. the company known for secrecy stole its own thunder bite leaking images about details on the new tablet. they say it includes a gold option along with other features. joining us from apple headquarters is bloomberg west editor cory johnson. theo they kind of blew surprise for everybody, but still this is an important release for apple. think theall see, i focus will be interesting, obviously releasing products and they are announcing this time of year and they're looking at fourth-quarter sales of consumer focus. i ipad mini is also very consumer focused see what that means for the iphone 6 plus facilitated in the old iphone. if one cannibalize against the other, but one of the things i will be looking for is what your focus is going to be the on the consumer particularly with the ipad hair,

ofo among the top gainers the stoxx 600, meaning there is speculation now that this deal is over iliad might come back and possibly get a new interest. >> great work. we will get updates through the day. i am sure the story does not stop for them. luxuryheck in on retailers. burberry numbers in line with estimates. they see a tougher environment weighing in on profitability. stocks getting crushed 25%. that is over 41% lower. sales were not good. the outlook for profit, they revised that as well. to talk luxury goods, we will talk more about luxury goods makers after the break. ♪ >> welcome back. i am jonathan ferro. this is with the markets look like right now. the ketchup selloff. advance 100 leads the here. the dax is lower. the u.k. inflation is the data to watch here. we expect a little bit of a pullback. ew -- zew to watch. >> you do not see big moves like this every day. we had is walking away from t-mobile. the parent company is doing to telecom. the new offer would value the stock at $36 a share, including cost savings. iliad shares are up. it was down 25%. it lost a quarter o

that was the worst performing sector last week on the stoxx 600.was the worst performance in three years. you can say that all european stocks were down, but not by 7%. travel leisure is down again today. >> thank you very much indeed. have more onto this economic impact later in next hour.r in the a take on where we are with this in africa and the long-term impact. is going to be a gdp impact that you will feel for years. let's go to hong kong. mobs of been confronted. ofs is the third week rallies. this is testing the patience of business owners and taxi drivers. i saw some of the pictures that you tweeted out earlier on. you were caught in the middle of all this. yes. we saw something happening in hong kong on hong kong island that we have not seen so far. the anti-occupy protesters were confronting the pro-democracy protesters. they met in a park. the police tried to contain them to this park, but they broke through the pearly scored and ran up the streets. it was mostly older chinese men. they were thuggish looking i've got to say. the police

plenty of news on the stoxx. statoil an is on the move.e are on the move as well, and we will be back in two. ♪ >> welcome back to "on the mov " ." these are some companies on the move. third-quarter sales eat babyates and demand for food. a prediction of a return to profitable growth in the second half. formula and baby food sales gained 19%. that is the first quarterly increase in more than a year. rio tinto says profit growth. says it rejected a merger offer from glencore, which would have created the world's largest mining company. qualcomm has agreed to by the u.k. chipmaker csr. csr pioneered bluetooth technology. the deal is valued at one point 5 billion pounds. csr shares are surging more than 30% on the back of that deal. the u.k. construction company chiefmed leo quinn as the executive. quinn was the ceo of the scientific research company connectix. balfour shares up 10% on the news. other companies we are looking at. one of them is statoil. is norwegian company ceo expected to lead bg group. fromhile some pressure plummeting oil

. >> we are already up 1% on the stoxx 600. it is going to go higher, it seems. haseems to be japan that set of fire underneath stocks this morning. it helped asia, likely to help europe as well. france up almost 2%. of course, japan unexpectedly boosting stimulus. already injecting unprecedented amounts of money into the monetary stimulus, but only three of 32 economists saw this one coming. now it is going to be ¥80 trillion per year that the japanese central bank is injecting. about trying to foster that inflation, that 2% target they have. we look at what it did to asia. it ignited asian equities. hang seng up more than 1%. nikkei up almost 5%. nikkei, highest in seven years. let's see what it did to the yen. we saw the yen really see a six-year low weakness, that is helping exporters of course. all of this helped by our rather tasty bit of gdp data yesterday. that helped the dollar. let's look at what is happening to the dollar-ruble. we are expecting the central bank of russia to hike interest rates later. could they hike by half offer percent -- half a per

the big winner on the stoxx 600. up almost 10%. telecoms equipment makers seeing earnings beat analyst estimates. a narrower loss than had been thought. good development where it matters says bernstein. the ceo still managing to cut costs as he turned around this business. >> great work, caroline. we are up 22 points. in the last couple of minutes, we had breaking news. it was spanish gdp. spanish gdp comes in bang in line with surveys. this is the preliminary reading. 0.5% was the survey reading. that is 1.6%, also bang in line. the eu harmonized year on year figure, negative 0.2%. bang in line with survey, less worse than the previous month. let's get back to the big story of the last 24 hours. the fed has brought their historic qe to an end with no suggestion a sequel is coming anytime soon. if you look at the central bank statement yesterday, you notice other he dod -- you notice a very dovish. let's bring in richard jeffrey. he is chief executive officer at calf in capital. great to have you with us. is that the takeaway? the

i don't want to tempt fate but nonetheless, for now, 1.4% on the stoxx 600. let's look at the individual markets. as you can see, it's a bounceback across the board. with the more volume title markets doing better, up 3.6% than the bigger cap markets like germany, up 1.5% and the ftse 100 up 1%. and i describe it as a tempered bounceback, certainly not the extent to which we've seen declines of volatility in the week. nonetheless, in the green on friday, hopefully ending the week on a positive note. wednesday was the extraordinary day for the u.s. ten-year, where it moves between 2.2% and 1.8%. it settled just closer towards 2.2%. bonds have come back a little bit. but nonetheless, the biggest story over the course of the last week is one of yield compression. low yields, relate, across the board for most of the major bond markets, 0.85% in germany. the uk, 2.16%. the coming back of that 2% mark that we were on. nonetheless, still low yields. that's not the story that we've had in greece, which has moved in completely the opposite direction. the yield just be

weighing on the german index, snyder electric, shares trading near the stop of the stoxx 600 after the french group relowsed revenues. >>> air france klm has taken a 460 million revenue strike. the airline said operating profit almost halved in the third quarter. but the big shock of the morning, sanofi has announced the departure of its ceo just a day after playing down speculation over a potential exit. wilfred, the stock down about 4% in today's trade. >> yes, indeed. it was down almost 10% yesterday. stephane joins us on set with more on this story. stephane, the ceo had a pretty good record, yet today a unanimous vote to oust them. >> it's not a problem, to be honest. the company about five years ago, the company had an issue with the pipeline which was very poor. he made a series of acquisitions and that really forced the pipelines. but that's not at issue any more. he also managed rather well the transition with all this patents which expired in the last few years, managed to first of all put in the market some new product. the market shah shares in general, so being under share

fist on the stoxx 600, we are up 0.8%. 1% now, over 1% with plenty of sectors in focus. the banking sector in particular, we have numbers from rbs, we have numbers from bnc paribas. the auto sector is underperforming at this moment, up 0.3%. at the other end of the board, we've got basic resources up almost 2%. oil and gas 1.8%. and here we are, the banks, important sector today. we'll talk about this in details in just a few moments. banks, is 1.6% higher at the moment. also rbs trading higher in the first minutes of this session 0.8% higher. let's have a look at the european markets, the indices with a 1.2% increase. the stock with the ftse 100. the bank reported a third quarter profit of 1.2 billion pounds. the stock is up 2.6%. steve. >> the flashes hitting the wires, in talks with a number of regulatory authorities to settle forex probes. the finance director says they will start editioning capital next year will not start thinking about dividends until the bank has had really good capital build under way. catherine is joining us around the set as well as foster is

hans, what data was taken and have the stoxx been affected? after hours,o ut so the stock is down a little bit. they are saying no password, no social security numbers. but here is how they did it. they got an employee's password and through that password they were able to gain access to jpmorgan servers. when you compare this to other attacks, at least in recent years, it is not that high. million households were affected. jpmorgan has 60 5 million customers. we've compare that to ebay or 110 happened to target, the million for target. this is not quite at this level, but it is very serious. the bank is taking it very seriously. here is a statement from the bank when they said there is no evidence that account information for such affected customers. account numbers, passwords, user 's, dates of birth or social security numbers were compromised. hing,he danger is phisi because they have names. now the threat is for high net worth individuals to have accounts they -- hackers may be them into giving crucial information. none of that information

if you look at the stoxx, they have traded differently and global auto companies and the u.s.ket have been doing well. are they dealing with this question mark have they come out with science and luring the consumers in? >> there has not been a lot of incentives in the japanese auto markets and i think what the automakers are trying to do is offset that. products oute new and they are try to offset the japanese markets? the market share .s >> what about the stocks that depend on the economy? they added products. running in excess of that. have dealt with that for more than a decade and it is a bit of a shock. offerivate label products better margins than some and it gives them more leverage. pricere pushing through increases and we are seeing them more aggressively go after overseas tourists. if you think about chinese tourists, they are up and they are doing a number of things to attract those. delivery services with hotels and we think about next year with consumers having the opportunity to buy in the stores. >> the weaker yen makes traveling to japan so attractive. it incr