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CNN Live At Daybreak

International Market Update: European Stocks

Aired June 25, 2003 - 05:17   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.


THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.


CAROL COSTELLO, CNN ANCHOR: It's time to check on the European markets. Maybe it'll give us a sign about how Wall Street will do in the hours to come.
Let's head to London now and Charles Hodson.

Good morning -- Charles.

CHARLES HODSON, CNN FINANCIAL NEWS CORRESPONDENT: Good morning, Carol.

Well it's looking fairly good. Certainly the U.S. futures suggest that we will see another reasonably strong opening on Wall Street. Nothing spectacular, I suspect, because everyone is waiting to see what the Federal Open Market Committee will do when it announces its decision on interest rates in about nine hours from now. And an awful lot of the focus there will be on exactly how the Fed actually phrases its statement there. Not so obviously clearly will also enormous debate as to whether we'll see a quarter of a percentage point or half a percentage point by way of a cut there, again, to a record historic low on U.S. interest rates.

As far as the European markets are concerned, they're up fractionally by round about a third of a percent each one at the moment, some a little bit more, some a little bit less. Again, I think everyone is really waiting to see what the Fed is going to do and on this side of the Atlantic as well.

One recently hopeful indicator we had was German business confidence, something called the IFO index which is looked at very, very carefully. That was up which was strong. So we are looking to fairly strong market openings and of course, strong markets already here -- Carol.

COSTELLO: All right. Thanks, Charles, a live report from London this morning.

TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com






Aired June 25, 2003 - 05:17   ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: It's time to check on the European markets. Maybe it'll give us a sign about how Wall Street will do in the hours to come.
Let's head to London now and Charles Hodson.

Good morning -- Charles.

CHARLES HODSON, CNN FINANCIAL NEWS CORRESPONDENT: Good morning, Carol.

Well it's looking fairly good. Certainly the U.S. futures suggest that we will see another reasonably strong opening on Wall Street. Nothing spectacular, I suspect, because everyone is waiting to see what the Federal Open Market Committee will do when it announces its decision on interest rates in about nine hours from now. And an awful lot of the focus there will be on exactly how the Fed actually phrases its statement there. Not so obviously clearly will also enormous debate as to whether we'll see a quarter of a percentage point or half a percentage point by way of a cut there, again, to a record historic low on U.S. interest rates.

As far as the European markets are concerned, they're up fractionally by round about a third of a percent each one at the moment, some a little bit more, some a little bit less. Again, I think everyone is really waiting to see what the Fed is going to do and on this side of the Atlantic as well.

One recently hopeful indicator we had was German business confidence, something called the IFO index which is looked at very, very carefully. That was up which was strong. So we are looking to fairly strong market openings and of course, strong markets already here -- Carol.

COSTELLO: All right. Thanks, Charles, a live report from London this morning.

TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com