(Bloomberg) -- Want the lowdown on what's moving European markets in your inbox every morning? Sign up here.Good morning. The U.K.’s Conservative Party has released its election manifesto, pro-democracy candidates won in Hong Kong and mergers and acquisitions are heating up. Here’s what’s moving markets.Johnson’s ManifestoBoris Johnson isn’t taking any chances. The U.K. prime minister and Conservative Party leader, comfortably ahead of the Labour Party and Jeremy Corbyn in the polls, unveiled his policy proposals on Sunday to kick off the final two weeks of the general election campaign. Johnson is promising to hire 50,000 extra nurses for the National Health Service and a package of tax cuts for working people. Johnson avoided the radical language and out-of-the-blue policy announcements that derailed his predecessor Theresa May’s campaign in 2017. Of course, Johnson reiterated that the U.K. needs to leave the European Union first thing. Corbyn, meanwhile, is vowing to tax the rich, spend on nationalizing swaths of industry and boost public services. The Tories are ahead of Labour by at least 10 percentage points, according to five different polls released on Saturday.Hong Kong VotePro-democracy forces won 86% of the seats on Hong Kong’s local district councils in Sunday’s voting, a stunning repudiation of the city’s Beijing-backed government after months of increasingly violent protests seeking meaningful elections. The pro-government camp won about 12% of seats versus 65% four years ago. The results will add pressure on the government to meet demands including an independent inquiry into police abuses and the ability to nominate and elect the city’s leader, including one who would stand up to Beijing.Intellectual PropertyEquity markets are higher in Asia today, in part because China is making a move that may help along trade negotiations with the U.S.: China will raise penalties on violations of intellectual property rights, and will also look into lowering the thresholds for criminal punishments for those who steal IP, according to government guidelines Sunday. Trade is one big overhang on stock markets, and protecting IP is a priority for the U.S., so any move like this is bound to give a short-term boost to prices. Stock-index futures in Europe and the U.S. are modestly higher this morning. Elsewhere in markets, Bitcoin is tanking again, down nearly 10% today to the lowest level in six months, on concerns about a crackdown on cryptocurrency operations by China. It’s also on track for eight straight days of declines, tying a record losing streak from 2014.Merger MondayHere’s another supportive factor for stocks: Merger and acquisition activity is heating up. Novartis AG on Sunday agreed to buy Medicines Co. for about $6.8 billion, snapping up a promising cholesterol drug, and LVMH is close to a deal to buy Tiffany & Co., the fabled U.S. jeweler, for more than $16 billion. With interest rates near historic lows and economies around the world still growing, corporate boards are deciding to spend on deals, looking past any short-term concerns about a possible recession or political turmoil.Coming Up…If you’re a stock market professional, keep a steady supply of coffee at hand this week. There’s almost nothing on the earnings calendar — a handful of big companies report, including German food wholesaler Metro AG today and French drinks maker Remy Cointreau SA on Thursday. And trading should slow after tomorrow, given that the U.S. market is closed Thursday for Thanksgiving, and trading desks in New York will be operating with less staffing on Wednesday and Friday, the latter being a shortened trading day. South African stocks and the rand may be under pressure today after S&P cut its outlook on the country’s sovereign rating to negative, citing slow growth, the fiscal deficit and a growing debt burden. Sasol Ltd., the South African company plagued by delays and cost overruns at the Lake Charles chemical project in Louisiana, also said first-half profit will fall by at least 20%.What We’ve Been ReadingThis is what’s caught our eye over the weekend. Duke University, built on a cigarette fortune, may ban vaping. Big Beef battles to scrub polluter image as vegan burgers boom Wall Street wades into U.S. sports gambling as legalization spreads. Another bridge collapse highlights Italy’s infrastructure crisis. Tesla’s truck snafu isn’t the first product demonstration to go wrong. What a doctor has learned from suicidal patients. How natural wine became a symbol of virtuous consumption.Like Bloomberg's Five Things? Subscribe for unlimited access to trusted, data-based journalism in 120 countries around the world and gain expert analysis from exclusive daily newsletters, The Bloomberg Open and The Bloomberg Close.Before it's here, it's on the Bloomberg Terminal. Find out more about how the Terminal delivers information and analysis that financial professionals can't find anywhere else. Learn more.To contact the author of this story: Phil Serafino in Paris at pserafino@bloomberg.netTo contact the editor responsible for this story: Celeste Perri at cperri@bloomberg.netFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
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