Natwest fell 7% after reporting third quarter results
Natwest was down 7% after reporting third-quarter results.
The British bank reported a profit of £1.1 billion ($1.3 billion), missing analysts’ forecasts.
Natwest has set aside an extra £247 million to reflect the difficult economic outlook in the UK, which has eaten into profits.
— Hannah Ward-Glenton
Next up: Bank of America CEO Brian Moynihan live on “Squawk Box Europe”
Bank of America CEO Brian Moynihan will be interviewed live on CNBC’s “Squawk Box Europe” at 8:00 a.m. London time.
The bank released its third-quarter earnings on October 17 and emphasized that the resilience of American consumers is a reason to reduce concerns about the economic slowdown.
You can watch the interview live on CNBC here.
— Hannah Ward-Glenton
European market: Here are the opening calls
The FTSE 100 is expected to fall 32 points to 7,039 and Germany’s DAX 67 points lower at 13,155, according to data from IG. CAC will be down 25 points to open at 6,226 and Italy’s MIB will be 89 points lower at 22,347.
CNBC Pro: Tech stocks are collapsing but one fund manager still likes Microsoft. Here’s why
Tech stocks tumbled this week, as investor confidence weakened following disappointing results from the sector’s biggest names.
But money manager Brian Arcese is standing by Microsoftcalling it “long-term security retention”.
Pro customers can read more here.
— Zavier Ong
CNBC Pro: A lot of pain for the market, warns
Investors should think twice before chasing the recent rally in stocks, according to one strategist.
“I think the rally in the market is a rally,” Beat Wittmann, president of Porta Advisors in Switzerland, told CNBC.
CNBC Pro subscribers can read more here.
– Jenny Reid
Chip stocks fall after US officials say their ally may soon impose export limits on China
The Bank of Japan keeps interest rates on hold 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 Japanese government bonds at fixed rates to keep the 10-year JGB yield at 0%.
“The Bank will support financing, especially to companies, and maintain stability in the financial market, and will not hesitate to take additional easing measures if necessary,” he said in his policy statement.
— Jihye Lee
