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FBN’s Diane Macedo breaks down the stories moving the markets around the world.
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This is that Imus in the morning.
On the -- the.
Ignoring everyone we have some breaking news for a little while ago the Dow Dow Jones is reporting that London police have arrested three people in connection.
With the live -- manipulation investigation we'll have more on that story.
As it develops meanwhile little more breaking news for you the government is getting out of American International Group.
The US treasury has agreed to sell all of its remaining stake in AIG ending government ownership of the insurer about four years after -- 182 billion dollar bail out.
The treasury selling more than 234 million shares at 32 dollars.
Fifty cents each -- this still bringing a profit of about seven point six billion dollars and the total investment.
We'll bring in a profit of 22 point seven billion dollars.
The sale closes at one of the most hotly contested bailouts of the global financial crisis and will turn a profit for taxpayers something that was one thought to be inconceivable.
HSBC has agreed to pay a record one point nine billion dollars to settle money laundering charges by US authorities the British bank faced accusations that -- transfer billions of dollars for countries like Iran.
And -- -- Mexican drug cartels to move money illegally through its American subsidiaries.
As part of the agreement.
HSBC won't be prosecuted further if it meets certain conditions like strengthening its anti money laundering safeguards authorities decided against indicting HSBC.
Over concerns that criminal charges could hurt the major bank and as result destabilize the global financial system.
HSBC's also expected to reach an agreement with British regulators over the same issue.
Earnings from Dollar General now the discount retailers reporting an adjusted profit of 63 cents a share that beat the estimates for sixty cents.
Revenue came in at three point 96 billion dollars matching the expectations -- -- Let's take the markets now here in the US we've been looking at green arrows across the board all morning that huge amounts the Dow futures still up by about thirty -- S&P -- up almost three.
And the nasdaq's up five in Europe shares -- -- gained after reading on German investor confidence.
Unexpectedly rose this month again markets not huge but still to the upside London's up about ten Paris is up twenty and Frankfurt up.
About 45.
For more on the European markets -- let's go live to London where we're joined by Alastair -- market analyst for IG and Alastair what do you make of what's going on in Italy right now yet technocrat prime minister Mario -- saying he's resigning former prime minister Berlusconi.
Wants to take his place but they're still wide speculation that -- Could remain in politics and even become Italy's next president so why stepped -- -- Morning well let -- I think as far as Serb Mario Monti said actions to consent.
I think he -- the markets a little bit by surprise by announcing it when he did having said that though it was always the plan he was -- going to be -- for relatively.
Short period of time and if we look at the history books say when it comes to prime ministers in -- -- The the average over the last forty years he's one point six years so we really shouldn't be too surprised on -- -- Italian electorate really aren't that surprised that the that the timeline -- As far as says Silvio Berlusconi -- concerns.
He said deciding to throw its hat back into the political -- title certainly be interesting.
He isn't quite as much of -- -- found as Mario Monti is nothing about possibly what speak the markets Iraq caught a few hurdles he'd have to clear -- In order for him to get back into power say while it's far from a foregone conclusion that he would just step straight in Samaria -- she's.
One ounce of -- I may not be you know hugely surprised by this that you mentioned markets are spooked by it and so -- the Spanish government.
Which is worried about spillover from all of this uncertainty the finance minister says where there are uncertainties about the political stability of neighboring countries that immediately affects us in Spain so what kind of an effect.
Could this have on Spain.
I as a say I think it's the timeframe with which he Mario Monti.
Has stated this if he'd said the united sometime in the next month a year I got a -- months down the write something like that.
I think the markets would have been a bit more relaxed about it I think it's the timeframe the really has caught markets by surprise rather than anything else.
-- -- -- And looking having looked to the history books it's not that much of a surprise.
The Spanish are obviously you quite worried about their fiscal situation they have a -- that could very easily.
And then I think that -- a rock the bike is is something have very much against so you can understand how nervous stay off anyway regardless of what the Italians my got up today.
Aren't very trick Alastair MacKay get IG in London -- -- -- good to talk to -- thanks.
Let's take a look at how commodities are doing now he's -- oil and gold sort of searching for direction this morning right now oil still up about 45 cents trading -- 86 dollars a barrel.
Gold still down but definitely off the lows of the day only down about ninety cents there now trading at 1713.
Announced.
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