Euro at March low, BAT offer, yuan low, what people are talking about

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BAT offers $47 billion for Reynolds American, the euro hits its lowest level since March, and Trump says he'd accept a 'clear' election result. Here are some of the things people in markets are talking about today.

Tobacco offer

British American Tobacco Plc has offered to buy the 58 percent of Reynolds American Inc. it doesn't already own for $47 billion in cash and shares, a 20 percent premium to the last closing price. In other corporate news, senior executives at AT&T Inc. and Time Warner Inc. met in recent weeks to discuss business strategies, including a possible merger, according to people familiar with the matter. There are concerns that AT&T's debt load may stay the company's hand, as it looks to protect its investment-grade rating.

Euro low

The euro hit its lowest level since March against the dollar this morning, and was trading at $1.0893 at 6:13 a.m. ET. The move comes after yesterday's European Central Bank monetary policy decision and press conference, in which Mario Draghi gave away as little information as possible over the central bank's plans for its quantitative easing program. Separately, in trading this morning, Deutsche Bank AG shares recovered from the selloff sparked by the U.S. Department of Justice’s request for $14 billion to settle a probe into the bank's mortgage-backed securities business. 

Theresa May's 100 days

U.K. Prime Minister Theresa May marks her first 100 days in office today, a term that has thus far been completely dominated by the Brexit debate. She clashed with European leaders at the summit yesterday, as her continental counterparts seem to be taking the lead ahead of official post-Article 50 negotiations. Her cabinet ministers are trying to assure bankers in London that her government will fight for the City, while concerns for the capital's global influence increase. 

Markets mixed

Overnight, the MSCI Asia Pacific Index fell 0.3 percent, with Hong Kong markets closed due to a typhoon. In Japan, the Topix index closed 0.4 percent lower after a magnitude-6.6 quake struck the west of the country. In Europe, the Stoxx 600 Index was 0.1 percent higher at 6:19 a.m. ET as deal activity and the lower euro helped lift stocks. S&P 500 futures were 0.3 percent lower

Trump will accept a 'clear' result

Republican presidential candidate Donald Trump said he would accept a 'clear' result in the U.S. election, after he stoked speculation on the matter in the final debate on Wednesday. There was mixed reaction to some of comments at the Alfred E. Smith Memorial Foundation Dinner in New York last night, with a couple of his quips meeting with jeers from the audience. 

What we've been reading 

This is what's caught our eye over the last 24 hours.

To contact the author of this story: Lorcan Roche Kelly in Dublin at