What Does This Winning Urea Mean for Europeans?

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Katy martin and the f ts markets editor catch up on this week's news. J p morgan chase and morgan stanley both reported bigger than expected profit declines. But it wasn't all bad news for banks, with some of them posting better-than-expected results.

Italian prime minister Mario Draghi offered to resign, which caused problems for Italian stocks and for the euro. Plus, two of the biggest US banks had worse earnings reports than analysts expected.

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Mentioned in this podcast:

Mario Draghi offers to resign as Italy’s prime minister

JPMorgan and Morgan Stanley profit miss casts pall over Wall Street

Rising recession fears and broad shift into haven assets have boosted the greenback

The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. The show’s theme song is by Metaphor Music. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley.

Read a transcript of this episode on FT.com

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