Natwest fell 7% after reporting solid third-quarter results
Natwest has decreased by 7% after solid third quarter results.
The British bank reported a profit of 1.1 billion pounds ($1.3 billion), just missing analysts’ forecasts.
Natwest set aside an extra £247m to reflect the difficult economic outlook in the UK, which ate into profits.
— Hannah Ward-Glenton
Coming soon: Bank of America CEO Brian Moynihan live on Squawk Box Europe
Bank of America CEO Brian Moynihan will give an exclusive live interview on CNBC’s “Squawk Box Europe” at 8:00 a.m. London time.
The bank released its third-quarter earnings on Oct. 17 and highlighted the resilience of US consumers as a reason to ease fears of an economic slowdown.
You can watch the interview live on CNBC here.
— Hannah Ward-Glenton
European Markets: Here are the opening calls
The FTSE 100 is expected to fall 32 points to 7,039 and Germany’s DAX down 67 points to 13,155, IG data showed. CAC is down 25 points to open at 6,226 and Italy’s MIB is 89 points lower at 22,347.
CNBC Pro: Tech stocks are falling, but one fund manager still loves Microsoft. Here’s why
Technology stocks have fallen this week as investor optimism faded after disappointing results from some of the industry’s biggest companies.
But fund manager Brian Arcese stands by Microsoftcalling it a “strong long-term defensive posture.”
Pro subscribers can read more here.
— Zavier Ong
CNBC Pro: The market is in for a lot of pain, strategist warns
One strategist thinks investors should think twice before chasing the recent rally in stocks.
“I think the market rally is a breathing rally,” Beat Wittmann, chairman of Switzerland’s Porta Advisors, told CNBC.
CNBC Pro subscribers can read more here.
— Jenny Reid
Chip stocks fall after US official says allies may soon impose export restrictions on China
Bank of Japan keeps interest rates as expected
Japan’s central bank left interest rates unchanged on Friday, in line with economists’ forecasts in a Reuters poll.
The Bank of Japan also said it would buy the necessary amount of Japanese government bonds at a fixed rate to keep the 10-year JGB yield at 0%.
“The Bank will support financing, mainly for firms, and maintain stability in financial markets, and will not hesitate to take additional easing measures if necessary,” it said in its monetary policy statement.
– Jihye Lee