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Trade deal optimism rises; HSBC drags FTSE 100 down – business live

Washington and Beijing say they’re close to finalising’ parts of an’ phase one’ trade deal

Introduction: US and China are making progressChina examines to boost blockchainHSBC revenues slip after’ unacceptable’ performance

10.53 am GMT

In New York, shares in Microsoft are rallying in pre-market trading after it won a $10 bn contract to provide cloud computing services for the Pentagon late last week.

But Amazon, who were favourite to claim the contract, are down in pre-market trading — having already said it was “surprised about this conclusion”.

The morning after Microsoft acquires $10 billion cloud computing contract over Amazon $ MSFT $ AMZN gDSmDRXjuN

10.35 am GMT

The European Central Bank are shedding a departure defendant for Mario Draghi this afternoon, before he stepped down as chairperson on 31 October.

But the latest money supply illustrations, secreted this morning, have made a dampener on celebrations.

The annual growth rate of broad fund( M3) in the euro area decreased to 5.5% in September 2019 from 5.8% in August( reworked from 5.7% ). Full press release https :// WuZPiYa8r 7 XKwfC9 7EwE

Bad news for the Euro area and ECB economy as the growth rate of narrow money( M1) falls from 8.5% to 7.9% in September #GDP

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