10 things you need to know before the opening bell
Here’s what you need to know.
1. HSBC is sinking after the bank reported an ‘unacceptable’ 24% decline in profits in its latest earnings. Acting CEO Noel Quinn announced that the company would be remodelling.
2. The EU had agreed to delay Brexit till January 31 2020. EU leaders met on Monday and agreed unanimously to grant an extension, which parliament could use to hold a general election.
3. Tiffany is set to soar nearly 20% after Louis Vuitton made a $14.5 billion bid for the company. Tiffany confirmed talks this morning.
4. Spotify revenue beats estimates on higher paid subscriber addition. The music streaming company reported a better-than-expected 113 million in total paid subscribers for its premium service.
5. Microsoft is set for a record open after beating Amazon to a controversial contract with the Pentagon worth $10 billion. The contract is for Microsoft’s cloud computing services but could face further competition from Amazon according to Bloomberg.