China housing finance announcement disappoints

Chinese developer stocks sink despite the housing ministry briefing outlining further measures to help prop up the troubled property sector. We are live in Brdo, Slovenia where the ECB’s governing council is holding its annual external meeting ahead of its widely expected second consecutive rate cut later today. Stateside the Dow hits a fresh record high thanks to Morgan Stanley reporting quarterly beats on both the top and bottom lines. CEO Ted Pick tells our U.S. colleagues that he no longer expects a slew of companies to come to market. Swiss robotics company ABB hikes its margin guidance despite failing to hit Q3 profit and revenue forecasts

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