10 Things You Need To Know Before The Opening Bell

Spain catalonREUTERS/Albert GeaPeople hold ‘estelada’ flags, Catalan separatist flags, during a gathering to mark the Calatalonia day ‘Diada’ in central Barcelona.

Good morning! Here’s what you need to know.

An Overwhelming Number Of Catalans Voted For Independence. Nearly 81% of 2.25 million Catalans who participated in a simulated referendum Sunday said they wanted autonomy from Spain, according to preliminary results.

However… Spain does not recognise the vote. “It is not democratically valid,” Spanish Justice Minister Rafael Catala said. Catala characterised the gesture as “fruitless and useless.”

European Investor Confidence Gets Less bad. Sentix investor confidence climbed to -11.9 from -13.5. “Eurozone sentiment data have been miserable in the past six months, but today’s increase in the Sentix indicates that recent modest signs of improvement in other surveys should continue this month,” Pantheon Macroeconomics’ Claus Vistesen said.

Chinese Inflation Is At A 5-Year Low. China’s annual consumer inflation remained at a near 5-year low in October at 1.6%.

Markets Are Up. US futures are up with Dow futures up 22 points and S&P futures up 2.2 points. In Europe, Britain’s FTSE 100 is up 0.4%, France’s CAC 40 is up 0.3%, Germany’s Dax is up 0.2%, and Spain’s IBEX is up 0.5%. Asia closed mixed with Hong Kong’s Hang Seng up 0.8% and Japan’s Nikkei down 0.6%.

The Rouble Is Surging. “The rouble is on a tear on Monday after the Russian central bank announced that it was abandoning its attempts to prop up the currency and allowing it to free float,” reported BI’s Tomas Hirst. “The announcement came at the same time as the price of oil ticked up — giving the currency a convenient bounce.” The currency is currently up 3% against the dollar.

Hong Kong And Shanghai’s Stock Exchanges Are About To Get A link. A delayed trading link between Hong Kong and Shanghai’s stock exchanges will start on Nov. 17, the Hong Kong exchange announced Monday.

South Korea And China May Have A Trade Deal. South Korea said it has “effectively” reached a free trade agreement with China that will remove or sharply reduce barriers to trade and investment between the two global trade giants.

Russia Signed Another Big Gas Deal With China. The Russian and Chinese governments have signed another significant gas deal, after an earlier agreement this year, according to the Financial Times.

Berkshire Beats By $US283 Per Share. Warren Buffett’s Berkshire Hathaway reported an 8.6% year-over-year decline in profits as the insurance giant’s portfolio suffered losses from money-losing investments like Tesco. However, Berkshire’s operating earnings of $US2,876 per share beat expectations for $US2,593.

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