Refinitiv Newscasts - UK Day Ahead: Brexit, Tier vote, Moderna, EZ PMI, Inflation

Baader Bank AG

30/11/2020 15:34

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Source: Reuters Insider

Description: European stock sentiment remains muted as investors keep one eye
on Brexit and the other on the rate of COVID infections. Moderna will apply
for U.S. and European emergency authorization for its COVID-19 vaccine later
this Monday. Plus, look out for euro zone manufacturing and inflation data.
Short Link: https://refini.tv/2Vk7b9u

Video Transcript:

Good afternoon. I'm Angeline Ong, and welcome to your wrap up of the day's top
news and an insight into what's coming up Tuesday. But first, European stocks
sentiment remains muted as investors kept one eye on Brexit and the other on
COVID. Hopes of a vaccine rollout soon and upbeat Chinese data did little to
boost the Pan-European index after its near 15% surge in November. ABN AMRO
shares - looking at that for you as well - plunging almost 7% after the bank
said it would slash 3,000 jobs by 2024. Back to the markets, we spoke to head
of Capital Markets at Baader Bank, Robert Halver, and asked him what he
expected in December. 

The mood at the stock exchange is neither euphoric nor subdued. You could call
it "advent calm". At the same time, the coronavirus infection is serious,
especially in the United States. There is the lockdown here in Germany which
will go on for several weeks and maybe months- we don't know. Then, there's
also the economic impact. But we also have the ECB and there is hope that
Brexit won't be hard after all, that the British will use the English Channel
as some sort of bridge. 

And we're now getting the same sort of Brexit mood music from Germany ahead of
the talks between Boris Johnson and Ursula von der Leyen. This is what Angela
Merkel said today.

I wish Michel Barnier and Ursula von der Leyen a lot of strength and a lot of
skill for the last negotiation steps. However, we don't need an agreement at
any price. We've made that clear. We want one, but we will otherwise take
measures which are necessary. In any case, an agreement is in everyone's
interest. 

Now that comment, as I mentioned earlier, coming head of a call between
Johnson and EU Commission President Ursula von der Leyen later today. Staying
in the UK, we'll get a COVID update from UK Health Secretary Matt Hancock at
1700G. This comes as Johnson faces a growing revolt over his exit strategy to
the lockdown in England. The second lockdown officially ends on December 2,
and Johnson has outlined a controversial plan to divide the country into three
tiers, which MPs will vote on Tuesday. Moderna will apply for US and European
emergency authorization for its COVID-19 vaccine later this Monday. This is
after full results from a late-stage study showed it was 94.1% effective with
no serious safety concerns at the company. And looking ahead to the economic
diary on Tuesday. We're looking out for manufacturing and inflation figures
from the Eurozone. German factories saw record growth in new orders in
October. But don't forget, new restrictions have been put in place since then
to try and curb a second COVID wave. And that's it for now. I'm Angeline Ong,
and this is Reuters