Squawk Box Europe Express

BHP announces a record half-year dividend payout after soaring iron ore prices pushed the mining giant’s results to a seven-year high. Oil prices, meanwhile, rise after a cold snap across Texas and northern Mexico leaves millions without power, shutting wells and refineries across the region. In virus news, the WHO has granted the Oxford University/AstraZeneca vaccination emergency use approval which will allow for wider access of the drug in low and middle income nations. We hear exclusively from Dutch Finance Minister Wopke Hoekstra who is confident that the vaccine rollouts will take Europe out of lockdown soon.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

President Trump is acquitted of inciting the fatal Capitol Hill mob attack last month, marking the second time he has survived impeachment in 12 months. In Italy, Mario Draghi is sworn in as Prime Minister after unveiling a new cabinet featuring lawmakers from across the political spectrum. He’s now tasked with addressing the country’s economy recovery following the Covid pandemic. Brent crude and WTI both hit 13-month highs on the back of U.S. stimulus optimism, the potential easing of global lockdown measures and renewed tensions in the Middle East. Japan posts a better-than-expected Q4 GDP figure which pushes the Nikkei above the 30k mark – the first time in almost 31 years. And in the UK, the government hits its vaccine rollout target a day early, with 15m people in the most vulnerable sectors of society having received at least one injection. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Disney soars in extended trading after the media giant tops first-quarter earnings forecasts, while subscriber numbers near 95m. Female-focused dating app Bumble lists on Wall Street with shares spiking on the debut. Strong sales in China and soaring online orders help L’Oréal to a topline beat. In political news, President Biden warns senators that Beijing could outstrip Washington on infrastructure investment. And in Italy, PM-designate Mario Draghi succeeds in gathering enough support from Five Star Movement MPs to create a new majority government. He is expected to name his cabinet today.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

President Biden and Chinese Premier Xi Jinping speak on the phone for the first time with the new U.S. leader immediately raising the topics of trade and human rights. U.S. consumer prices are in focus as Federal Reserve Chairman Jerome Powell stresses the need for a jobs drive to propel the economy, while revealing the central bank “explicitly” seeks to target an average inflation of 2 per cent annually. In vaccine news, the WHO grants the Oxford-AstraZeneca vaccine its backing despite recent EU criticism over the drug’s efficacy. Earnings seasons is in full swing in Europe. Italian lender Unicredit posts a revenue loss for the fourth quarter but says it is determined to return more than €1bn to shareholders. And we hear from a slew of European chief executives, including the CEO of Schneider Electric.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

In a two-speed recovery, the Chinese manufacturing rebound continues to strengthen with factory inflation up for the first time in a year but consumer prices sink into deflationary territory. In Washington, six GOP senators cross the aisle to vote with Democrats to proceed with the impeachment trial of former President Donald Trump over “inciting insurrection” in last month’s Capitol Hill violence. Twitter posts a beat on estimates, but user growth is down since CEO Jack Dorsey’s banning of Trump from the platform. In banking news, French lender Société Générale reports a Q4 net loss of €290m but confirms its dividend payment after lower-than-expected pandemic-related provision costs.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. equities and the Russell Index take a bullish turn once more with the Dow and the S&P 500 marking their longest winning streaks since August. Meanwhile, Tesla buys $1.5bn in Bitcoin, announcing plans to accept it as payment. The move pushes the cryptocurrency and its rivals Ethereum and Dogecoin to record highs. On the macro level, Goldman Sachs hikes its U.S. growth forecast after improving its baseline stimulus scenario. This, as Democrats look set to earmark nearly $50bn of the relief plan for the transport sector including $14bn for airlines, boosting shares in major carriers as a result. In energy news, oil reaches a 13-month high to pre-pandemic levels on hopes of global demand beginning to recover. And former President Donald Trump’s second impeachment trial is to kick off in the Senate later today.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Asian equities respond to U.S. futures indications that last week’s rally – the markets’ best week since November - could continue. A poor U.S. jobs report on Friday raises hopes of a stimulus deal. In vaccine news, South Africa suspends inoculations after studies show that the jab created by Anglo-Swedish pharma giant AstraZeneca provides minimal protection against its national Covid variant. Meanwhile in M&A news, Japanese microchip giant Renesas is set to swoop for DAX-listed Dialog in a reported $6bn bid. In Italy, former ECB president Mario Draghi has secured conditional support from rival parties Five Star Movement and Lega as he attempts to rebuild the splintered government coalition.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Equities in the U.S. soar with the S&P 500 reaching fresh highs off the back of improving employment figures. This, as tech stocks continue to push the Nasdaq to new levels. Washington takes aim at the Reddit retail investor frenzy with U.S. Treasury Secretary Janet Yellen vowing to review the episode with market regulators while hailing Wall Street’s resilience in the face of the rally. In vaccine news, Johnson & Johnson is set to achieve FDA emergency Covid jab approval. The drug maker may have up to 100m doses available by June. Meanwhile, the global microchip shortage has forced Ford and Stellantis to scale back production. Ford has warned the move may knock $2.5bn off its 2021 revenues while several German brands are considering building up stockpiles of the components. And a new IPO in Hong Kong is making waves. Chinese video media company Kuaishou lists strongly on the HKEX with shares almost tripling on its first day of trade.   See Privacy Policy at https://art19.com/privacy an

The former president of the ECB, Mario Draghi, answers the Italian president’s call to form a new unity government amid the worst national economic crisis in decades. Former Prime Minister Matteo Renzi – who withdrew his party from Giuseppe Conte’s coalition – tells CNBC that Draghi is the man to rescue Italy from the current political impasse. In energy news, crude hits a one-year high as OPEC+ producers agree an extension to output cuts while US stockpiles plummet to their lowest level since last March. And today sees a slew of European corporate earnings released including Deutsche Bank, OMV and Volvo.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

It’s the end of an era as Jeff Bezos hands over the reins of Amazon to Web Services CEO Andy Jassy later this year. This, as the e-commerce titan reports a record $125bn in Q4 revenues. Alphabet shares soar in after-hours trade as earnings top expectations despite a $5.6bn loss from Google’s Cloud unit. In Europe, Banco Santander suffers a record annual loss of €8.7bn but insists it will pay out its dividend. Siemens CEO Joe Kaeser marks his final quarter as CEO by raising full-year guidance following a 38 per cent surge in Q4 net income. And in Italy, President Mattarella is expected to invite former ECB President Mario Draghi to head a new government following the collapse of talks between the parties in the Conte-led coalition.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Equities have rebounded following their worst week since October. Every S&P 500 sector is in the green with further optimism on the back of earnings due from Pfizer, Exxon Mobil, Amazon and Alphabet. Meanwhile, silver comes off an 8-year high. Posts on WallStreetBets deny retail investor Reddit groups are involved in the price move. U.S. President Joe Biden meets with GOP senators but rejects calls to scale back his $1.9tn virus stimulus bill. Republicans are still hoping for a compromise on the final figure. And in Europe, the vaccine roll-out row intensifies. European Commission President Ursula Von Der Leyen now blames her deputy Valdis Dombrovskis for the climbdown on vaccine export controls. We also hear exclusively from Baker Hughes CEO Lorenzo Simonelli who tells CNBC the energy sector will recover this year as it adjusts to working with the new U.S. administration.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-i

U.S. futures suffer a turbulent overnight session following last week’s heavy losses. Silver is now reportedly in the crosshairs of the short squeeze retail investors. In Washington, 10 Republican senators urge President Joe Biden to scale back his $1.9tn stimulus program but Democrats threaten to push the plan through themselves should they not receive support from across the aisle. China posts its slowest pace of manufacturing growth for seven months in January as weakening exports hamper the country’s pandemic recovery. The Burmese military has seized power in Myanmar, detaining both State Counsellor Aung San Suu Kyi and President Win Myint. The army has imposed a state of emergency for up to a year citing alleged election fraud last November. And in Europe, Anglo-Swedish pharma company AstraZeneca has agreed to provide the EU with 9 million more vaccine doses. Following a furious weekend row between London, Dublin and Brussels, the European Commission has u-turned over its threat to implement checks at th

Wall Street bounces back following its biggest sell-off since October. The retail investor frenzy heats up after Robinhood is slammed for restricting securities trade. But the app’s co-founder Vlad Tenev said the move intended to protect both GameStop and its customers. We hear exclusively from German Finance Minister Olaf Scholz who says that the fiscal measures taken by Berlin should lead the country to 3 per cent growth in 2021. Tensions between Brussels and AstraZeneca continue with German regulators now saying the Anglo-Swedish pharma company’s vaccine should not be given to over-65-year-olds. And in banking news, Commerzbank is set to announce it is axing up to a third of jobs. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Wall Street sells off as equity markets suffer their worst session since October, with volumes spiking in the heaviest trading day since 2007. Apple posts its largest-ever quarterly revenue of $100bn as every category sees rising sales. Shares, however, sink in after-hours trading. Facebook stock is also down, with CEO Mark Zuckerberg blaming Apple’s privacy reforms despite the social media giant beating quarterly forecasts. And shares in GameStop see another rollercoaster session rising by 134 per cent before falling as hedge funds scramble to cover short bets.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Microsoft shares surge in after-hours trade on the back of strong demand for its cloud services. Guidance has also topped expectations. AstraZeneca has stood its ground over its vaccine roll-out, after Brussels slams the pharma giant for not redirecting UK-bound doses to the bloc. We hear from the GAVI CEO Seth Berkley who says that global supplies will increase soon. In corporate news, Italian lender Unicredit is reportedly set to name Andrea Orcel as its new CEO, while LVMH sees a Q4 sales boom on Asian luxury demand and has promised to pay its dividend at pre-pandemic levels despite net profit falling by more than 30 per cent last year.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

ECB President Christine Lagarde tells CNBC the recovery this year may be “delayed, not derailed” amid further lockdowns and the risk of new virus variants. French Finance Minister Bruno Le Maire says the roll-out of the vaccine programme will be critical. President Joe Biden signs an executive order aiming to ramp up the U.S. manufacturing sector, while German economy minister Peter Altmaier is calling for a more attractive European model. In Italy, Prime Minister Giuseppe Conte is set to strategically resign in a move to seek a mandate to form a new government. And in banking news, UBS Q4 profit jumps by 137 per cent as the Swiss bank says current client activity points to further revenue increases in the first quarter.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The new Biden administration pushes Republican lawmakers to agree to a $1.9tn Covid relief fund after confirmed U.S. cases surpass 25 million. There is renewed tension over Taiwan with more than a dozen Chinese fighter jets entering the island’s airspace while a group of U.S. carriers led by USS Theodore Roosevelt arrive in the South China Sea. Former PBOC member Li Daokui tells this channel that normalising relations between Beijing and Washington will take time. In Germany, economy minister Peter Altmaier has voiced alarm at the global shortage of microchips for the auto sector. VW has reportedly threatened to seeks damages while Taiwan’s TSMC promises it will ramp up production for car companies.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. President Joe Biden outlines his Covid-19 battle plan signing more executive orders on his first day in office but warned the virus situation was likely to get worse before things improve. Meanwhile, Wall Street turns its attention to Big Tech with the Nasdaq and the S&P hitting record highs once again. But Intel has had a minor setback as it has been forced to post earnings early due to a security breach after hackers stole sensitive financial information. In Germany, Siemens has beaten Q4 expectations but remains cautious on the global recovery in 2021. And the ECB holds its policy rates steady for January but President Christine Lagarde says the central bank is poised to react with all available instruments to support euro zone economies.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Joe Biden is sworn in as the 46th President of the United States, putting unity at the heart of his inaugural address. The new commander-in-chief immediately signed 17 executive orders upon entering the White House, some of which reversed Trump-era policies, such as the Paris Climate Agreement and the Muslim travel ban. U.S. equity markets cheered the inauguration, bouncing to fresh highs, but they were also buoyed by a slew of positive quarterly corporate earnings. European Commission President Ursula Von Der Leyen tells CNBC that the EU and the U.S. are on the same page in the need for tech regulation, which will be a key area in U.S.-EU relations moving forward.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Joe Biden is to be sworn in as the 46th President of the USA later today. The incoming commander-in-chief’s Treasury Secretary nominee, Janet Yellen, says that the U.S. will eventually afford a higher corporate tax rate and reiterates the need for fresh stimulus to exit the pandemic. Outgoing President Trump says he and his administration have completed what they had come to do in office. Meanwhile, bumper subscriber growth pushes Netflix stock up in after-hours trade. The streaming giant says it is close to becoming free cashflow-positive. U.S. banks kick off earnings season with Goldman Sachs seeing quarterly profits almost double while Bank of America beats on the bottom line but results are tempered by a modest consumer banking performance. And in Italy, Prime Minister Giuseppe Conte scrapes by in a confidence vote but fails to win an outright Senate majority following Matteo Renzi’s withdrawal of his Italia Viva party from the government coalition.See Privacy Policy at https://art19.com/privacy and