Strong earnings beats for google parent alphabet and fellow tech giant amazon drive nasdaq futures higher in afterhours trade, after the nasdaq extends its longest winning streak since 2013. Good morning. Welcome. Youre watching street signs on cnbc. We have an hour together. Im super happy youre with us today. I have big news. Ill share that with you with Peter Oppenheimer. I know you rejigged your day a bit to say hello. Greatly appreciate it. Because today is my last day. Sorry to hear that. So we put together a packed show, and im super pleased to talk to the likes of you. Thank you. Sorry to hear youre leaving. Its been a fantastic run. 17 years. Couldnt have been better. I couldnt have asked for a better ending to it either. Well touch on some things here throughout the show. One highlights has been talking to you over the years. I think we met in poland initially . I think it was. Way back when at an event. We were talking about equity markets at that point in time. That was a couple years ago, just before or after the financial crisis what are we looking at now, ben, for the last time before i let you go. What are the markets doing at the moment . I think its an interesting time in markets. Having been through the financial crisis, the worries persistently about growth and e deflationary fears, we saw an important Inflection Point last summer where it appeared we were finally getting stronger Global Growth and more balanced Global Growth and less fears of deflation. Thats been an important factor, the most risky markets, equities in particular. But in the last few months or the last couple of months some of that optimism has faded again. Were at an important juncture now. Our feeling is the bull market has room to grow. Risk of recession is low. That should be good for equities. But because Interest Rates have fallen for so long, valuations are so high and the return potential from here may be more modest. We think returns would be better outside the u. S. So, europe in particular or europe in particular. Emerging markets are facing still quite a benign environment where global Interest Rates are still low. The dollar is not rising. And valuations are pretty attractive. Balance has reduced. So thats quite an attractive backdrop for emerging markets. Europe has seen strong growth. Profits are looking much more positive after six years of going nowhere. Valuations are lower than the u. S. Weve seen a lot of outflows in havent years, partly because of worries about banks and indeed about politics, which hopefully now are also moderating. I think europe looks an attractive place to be. Relatively i think the long period of outperformance at the u. S. Is behind us for this cycle. Come back and well talk a bit more. Again, one last time, get your email questions through. Without you, theres no show. Its much more fun when you guys join. You can find us at streetsignseurope cnbc. Com. Ill be reading those emails until 12 00 noon sharp, and then no more. You can find me on twitter one last time today, louisabojesen. European equity markets are slightly mixed in trade. We were together yesterday afternoon doing a special ecb program where they kept their ultra loose Monetary Policy stance, left rates unchanged. They say they acknowledged strength seen in the eurozone economy, but by in large no huge reaction to the ecb in yesterdays trade. And today reflecting just a bit of a quiet end to what has been a good week for a number of asset classes. Lets look at the sectors. To the upside, autos, retail, basic resources. Ubs is coming up. Utilities, food and beverage. Ubs is trading higher after the swiss bank posted a 79 rise in First Quarter net profits, topping estimates amid strength in its Wealth Management business. The Bank Offering a cautious outlook saying improved Investor Sentiment had not translated into increased client activity. Carl carolin caught up with the ceo, Sergio Ermotti to get his thoughts. All positive developments on a yearonyear basis. Weve been seeing some confidence by clients, though its still uneven. If you look at private clients and Wealth Management clients have been more constructive. And if you look at decisions by investors, they have been affected by low volatility in markets. What struck me in the fourth quarter, you said for the first time in many years you saw client confidence recovering. Now it seems like youre talking about client confidence not taking off sustainably. What i do read into that . Theres a difference between client confidence and willingness to translate confidence into actions. So i think that particularly in the u. S. , but in general people are waiting to see what the new administration is really going to deliver. They are very positive. We link to consider investors and Financial Markets and in their own businesses, but they want to see concrete action. This latest Development Also on tax and on reforms. Its going to be the proof that people are waiting for. Now, barclays reported First Quarter pretax profits. But they saw net profits falling during the period. Saying they would take a oneoff impairment charge on its africa unit totals 884 Million Pounds. First quarter pretax profits at rbs topping estimates as the bank posted its First Quarterly profit since 2013. The bank cited better trading conditions as to having contributed to strength in its market division. And i promised you a second ago, shares in aluminum and Renewable Energy company, no orsk hydro. Let me introduce my guest to you, eivind kallevik, cfo. First quarter net income down 23 i see over the last three years. Talk me through the general picture for norsk at the moment. Very sorry to see you leave. Weve had very good discussions. Weve had fantastic discussions. I still dont know if its aluminum or aluminum it is. All depends on which side of the pond you sit. For me, its aluminum. If you look at the overall picture for this quarter, were pretty satisfied with the way we see how the market developments, on the upstream and downstream side. Theres nothing wrong with the market and demand. I think weve had a couple particular issues which hit us today which also affects the share price. One is that theres probably lower sales out of the box at the Aluminum Division following a wellannounced Maintenance Period in the mine, as well as lower third party sourcing for this period. I think when the market digests that, that will be better appreciated. Okay. And secondly, its also a disappointment for the market within world products, where we had certain issues after the Maintenance Period. If you adjust for that, we would be spot on where the market expected us to be. Thats what we will work on to be successful in the second quarter. How much are Raw Material Prices offsetting the higher Aluminum Prices that were seeing at the moment . If you look at overall for the company, the prices brings results up by roughly 1. 3 million, 1. 43 billion. And then raw material costs taken down by approximately 800 million. 60 . You said back in september not you per se, but there was a press release on whether or not you would be making acquisitions. It sounded like you would be looking along those lines. Any news on that . No news on that. Thats something we would communicate to the market when were ready for it we would look at highquality assets if they were for sale. But we would be extremely picky in the way we evaluated. Okay. I accept that answer, surely. Going back to the price of the underlying metals themselves, aluminum has had quite a drive when comparing that particular performance to some of the other metals out there. How many of it is driven by chinese demand at the moment . Its party driven by chinese demand. Also when you look at the world outside china, theres a significant deficit for metal. Clearly helping to support the price. Also quite a bit of a cost push supporting the Aluminum Prices. We see this in terms of higher Aluminum Prices in certain parts of the world. We also try to find out future trends and where the next growth story is coming from. Your material is used in everything, drinks cans, construction, auto industry. Is there any particular area where you see big changes, technological change, is that will drive a different type of demand in the future . If we put on our futuristic glasses . Were still optimistic on the automotive segment and the real importance of lightweight in the cars, both in order to improve the fuel economy and to meet future regulations. This is one area where we see sustained growth in several years to come. Eivind, thank you very much for being with us. Thank you for many years of fantastic conversation and company. Likewise. Really appreciate it. Continue to come in and say hi to my colleagues if youre in london. Absolutely will do so. Peter oppenheimer still with us in the studio. Basic resources sector as a whole, is that one we should be believing in at the moment . I believe there are two drivers here, if not three. One, is the undervalued metals price. Our metals analyst believes after a recent pullback, we will see another pick up. The second is theyre cyclical and will be in line with growth, and the Second Derivative which may be slowing. Its benefited a lot from the acceleration from last summer. And the third thing is china. The sector is sensitive to changes or perceived changes in chinese growth and also chinese credit growth. Thats starting to tighten a bit. I think you have shorterterm and medium term different drivers on the sector. Most immediately the prospect for rebound in metal prices nearterm might be quite helpful. Okay. Peter, youre staying with us. Cant believe you didnt know. I thought they told you it was my last day. No. Okay. Okay. Good. Even more happy then that youre in here. We have more with peter. Again, get your emails through. Streetsignseurope cnbc. Com. Or on twitter as well, louisabojesen. Barclays First Quarter results are likely to be overshadowed by the brewing investor revelt against jes staley. I ss told shareholders they shouldnt reelect staley given multiple investigations into his behaviors involving a whistleblower. Credit suisse Share Holders are meeting in zurich. The swiss bank has holder revolts to pay bonuses to top executives despite a big loss in 2016. In response Credit Suisse says they are cutting their pay by 40 . Shareholder anger shows little sign of baiting. Carolin is in zurich. One last time for me. Y one last time. This will ab heated Shareholder Meeting in zurich. Yes, the numbers last week were better than expected but still a lot of question marks around the future strategy of the firm but also about the pay report. One big Shareholder Group which has been opposed specifically to the pay report and also to the reelection of the chairman and vice chairman is vincent kauffman, the ceo of ethos funds, representing 3 , 4 of Share Holders at Credit Suisse. Youre a longterm investor, also a shareholder advisory firm. Why exactly are you opposed to the pay report and the reelection of the chairman . Regarding the reelection of the chairman of the board, shareholders have lost confidence in the board. Since 2011, since mr. Arona took over as chairman of the board there were many changes in the strategy. He was supporting heavy Investment Bank under mr. Dugen as co. Now hes supporting smaller strategy. And two days ago they announce another strategy with the ipo of the business. I think all this makes that we have lost confidence and mr. Arona that no more credibility. You think the company, the bank needs a new chairman. The problem always is there are not that many alternatives out there. Do you think the bank needs someone with a banking background, with a finance background . Thats not something that they have. If you look at the ceo, it would be quite good to have someone as chairman of the board with a good Banking Industry experience. And also have the benefit of the shareholder expectation. Because here we see that they didnt see the pay, such high level of valuable pay for the management and here as well the management decided voluntarily to reduce the valuable pay. Thats not how governance should work. Again, its a sign of the lack of oversight by the board of directors. Do not believe that Credit Suisse is going in the right direction with that cash call announced earlier this week at the expense of the partial ipo of the swiss business which would have meant more uncertainty with the ongoing restructuring that were seeing and were seeing it bear fruit in the First Quarter of this year. Do you not think theyre also doing some things right . Yeah, they actually need some capital. Thats clear. Thats why wla we aat were see couple years, thats why last year we refused to pay dividend and refuse again today. It makes no sense to pay a dividend today and request less than three weeks a Capital Increase of 4 billion. That makes no sense. So in may youre going to vote against that . Weve not decided yet. We see the bank urgently needs capital. So, we will decide early next week. It also depends on rates today. We see the bank needs capital. Again, the board did not see it coming. They knew they needed capital. Why did they wait two days before the general meeting to make this announcement . We do not understand. Vincent, thank you for your time. On that note, let me hand it back over to you. Before i wrap this up, i want to say a huge thanks to you over the last 17 years. The first seven years i was an avid viewer of cnbc, an avid viewer of you on the screen. The next ten years, i was a colleague of yours, i learned a lot from you. The amount i learned from you, based on what this job really takes was absolutely tremendous. But also on a personal level. So i do want to thank you for everything you brought to the channel and to us personally. On this note, i want to ask you, what do you think was your top moment at cnbc . First, you cant see, but im really afraid im going to lose it on air. Im trying my best not to bawl. But, no. The top moments have definitely been meeting all of you guys. Theres no way you or i could be doing this job without everybody else behind the scenes that viewers never see. It has to be the family itself and everybody working together to put out shows every single day. And we cant do it without each other. It will be super boring also if it is just one person sitting alone. So, thank you so much. Youre absolutely right. If i could tell you my favorite moment. When i was a student, watching cnbc in the morning. I got up terribly late. Had my breakfast in front of the television, lets tune in to cnbc. I believe it was halloween, you cranked out joke after joke, a halloween joke every ten minutes. I thought this is incredible. This is really fun. So this is something i always remember. I dont know if you remember that day. I dont actually, but i have been going through tapes from 1876 over the past couple of days. Im pretty appalled at what we used to do. But it was fun. It was really, really fun it has to be fun. Business news doesnt have to be boring. It isnt boring. So thank you so much, carolin. Well keep in touch. Cant wait to see you again. Thank you very much. Peter, thank you as well. You got me a bit teary eyed here. Thank you so much. I appreciated everything you have dochblt ane. All the effort you have put in to make it on the show as weve been together. I know you guys are super busy. But you dash over in between whatever else youre doing, in order to get your views out to everybody. Also can be a bit of a headache with traffic, none of you get paid, do you it because you love it, i hope. Its been a pleasure being interviewed by you and spending time with you. Like many viewers, im sure well very much miss you. Thank you. Likewise. For now, have a coffee, enjoy the long weekend. My weekend will be very, very long. Get your emails through. Streetsignseurope cnbc. Com. Ill check those until 12 noon sharp london time. You can also find us still on twitter louisabojesen. We need to take a break. Well be back with a whole bunch more after the break. Did you know slow internet can actually hold your business back . Say goodbye to slow downloads, slow backups, slow everything. Comcast business offers blazing fast and reliable internet thats over 6 times faster than slow internet from the phone company. Say hello to internet speeds up to 250 mbps. And add phone and tv for only 34. 90 more a month. Call today. Comcast business. Built for business. Hi everybody. Welcome back. Im louisabojeslouisa bojeseou. You are still watching street signs. Electrolux shares trading atop the stoxx 600 after beating analysts expectations. Jonas samuelson joins us this morning. You are beating profit forecasts. Raw materials, the rise there is leading to cost cutting, though . Thats right. We see steel and plastics moving up, as a result of that we stepped up efforts on cost cutting and efficiency. How much more needs to be done in that area . I think its an ongoing work. We see a lot of opportunities over the coming four, five years to drive modernization of our products, Continuous Improvement in our structural costs. This is a key focus for us in combination with launching products that consumers like. I remember the height of the financial crisis, it seemed like nobody was buying white goods. I also remember all the talk about staying relevant among the likes of whirlpool and some asian players coming on to the market strongly. What is the environment like now . Its an extremely competitive industry. You have to stay on your toes and continuously introduce competitive products. But the consumers are there in most of the key markets. Were seeing more confidence, lower Interest Rates, which really support continued good demand for the coming years. And in particular, how do you think that you will continue to fair against some of the bigger chinese and asian players, like lg electronics, hayer, it seems like the marketplace is changing. It is changing. It has been changing for the last 15 years. The key to success for us is to continue our effort on providing solutions to help consumers make great tasting food, to care for clothes and to provide a healthy wellbeing atmosphere in their home, focusing on the needs of consumers and deploying our expertise, also that we gain from our professional division. To continuously bring out Better Solutions for consumers that theyre willing to pay more for. The purchase of ges appliance unit was called off a while back. Are you going to be looking elsewhere . Yeah. I dont think theres a lot of major acquisition opportunities. We did close three acquisitions in the First Quarter driving along the lines of our strategy. We acquired a smart connected appliance that drives helps you make great tasting food. We acquired grind master, a Strong Player in professional coffee in north america, and acquired a Water Heater Company in south africa, all driving our Strategic Focus areas. Call it smaller to medium sized acquisitions, but we see a lot of those opportunities going forward. Jonas, going forward. I have to tell you a story from way back, like 17 years ago. 16 years ago. I used to do a show called todays business with simon hobbs at the time. We always used to joke when we talked about electrolux, that nothing sucks like an electrolux. We loved that phrase. You should use it in an ad. Jonas, thank you very much. Come by and visit the london studios when youre in town and have time. Jonas samuelson, ceo of electrolux. We need to take a break so many of you are writing in. It is my last day today. Antonio, james, timothy, samuel, glenn, josh, cam, darren, stacy, thank you. Hi everybody. Good morning. You are watching street signs. Im louisa bojesen. Your headlines today. Its time to party. Investors celebrating a 79 rise in net profit at ubs. But the swiss banks ceo tells cnbc why he is not chasing bigger expo chore to fixed income trading. Barclays falls after the bank takes a oneoff impairment charge of just under 900 Million Pounds on its african business, denting its net profit while boss jes staley faces a shareholder revolt. Shares in electrolux powering to the top of the European Equity markets as earnings beat expectations. And strong earnings beats for alpha beth and amazon driving nasdaq futures higher in afterhours trade after the nasdaq extends its longest winning streak since 2013. Hi everybody. Welcome back to street signs. A special edition of street signs today. Want to show you what were doing in the european markets. Slightly mixed. Mixed story. Weve had the ecb yesterday maintaining all the tthe ultra ultra loose monetary policies. Slightly mixed markets this morning heading into a long weekend as it were for many of you. The fx markets, the euro set for a weekly gain of 1. 3 , helped along by the macron win from round one of the president ial election in france. 1. 1. 0892. Members of italys Democratic Party will be selecting a new leader on sunday. Matteo renzi looks to comfortably defeat his two opponents, the minister of justice, and a governor. With the general election expected in the next 12 months, some people in italy are now talking about russias role in their countrys politics. Willem is in rome. How is that, willem . Its interesting, actually. Yesterday we spoke to one of the members of Italian Parliament Foreign Affairs committee, shes in Matteo Renzis own party. She said she asked the government about russian interference in the election. Its something people have been talking about following allegations from the u. S. And france. One man who pushed back on that is a member of the fivestar movement, he is also on the same Foreign Affairs committee. Heres what he said about italy and russia. Current role, no. I think that we have to reduce our Economic Investment in nato. Nowadays we are spending 1. 16 of our gdp. And its Something Like 80 million euro per day. I think there are wealthier things to put this money. We have to review that and we think about what we are supporting nowadays. We are still in afghanistan, can you imagine that . After 16 years. If you look at afghanistan, things are worse than when we entered it after the taliban. So this means that this mission has failed. Why are we still there . I could say a lot of them. We are saying that were in a good mission in lebanon for example, so were not saying everything is terrible. We are saying the parliament has to be involved in the decisionmaking process, because nowadays its the government deciding for everything, not the parliament. Is that not one of the consequences of signing up to an alliance, you get involved in efforts that maybe are not of direct interest to your country but maybe of interest to allies . Is that not something you worry about that nato will say to italy, if you reduce your involvement, especially mr. Trump who has been pushing this 2 so importantly for him, do you worry that italy by pulling back from nato will lose influence within nato . Every International Coalition youre a part of, there is always this argument. The more money you put in it, the more influence you will have and the more power will you have. You have to balance it with benefit that your own people if we say our government will have more power but were losing 80 million a day, so our people are not satisfied. You have to balance. If youre a good politician, you have to balance this. So, if matteo renzi does end up as looks likely as the candidate for the Democratic Party, hes pro european and had a strong line on russia over the last few years, hes under pressure from the fivestar movement to pull back on italian involvement in nato. Yesterday in the building behind me the nato general secretary met with the current Prime Minister and reaffirmed the current position of nato. Und they are already under that 2 . I know its your last day on street signs and on cnbc, its just about staying dry here in rome. I hope you can get out here and enjoy some thin crust pizza soon. I know a great place around the corner. Thats why i wanted to talk pizza with you yesterday. I can visit next week. Willem, its been fantastic working with you. We havent had a lot of time together give than you came on boe board quite recently. All the best at cnbc. Look forward to watching you in the future. Thank you. Now, lets move on. But continue with the elections. Emanuel macron may have lost two points in the latest French Election poll, but the boss of one of europes biggest Asset Managers says the chance of the centralleft candidate not becoming president is very, very low. Pellier says the markets are not pricing in the second round of the french president ial wrovote the 7th of may. French inflation data is weaker than expected with earlier the gdp estimate for the country also coming in lightme melight. German retail says light. The uk First Quarter preliminary report, 0. 3 quarteronquarter, expectations were for 0. 4 . I have stellar guests this morning. Your last chance to write in to me. Jeffrey yu from ubs. Welcome. Weve got steven sayer. Welcome to you as well. Thank you. Alex gunds, fund manager. And phillip shaw from investec. I share many, many years with all of you. Steven or phillip, you were one of my first guests. Indeed. A while ago now. Yes. What do you think of the Economic Data at the moment . Encouraging on the whole. Particularly in the eurozone. The recovery is becoming more entrenched. As draghi said yesterday, theres downside risks. We wouldnt take that much notice of the survey data. They seem to be running ahead of the official data, but encouraging nonetheless. Ukwise, we had the q1 gdp number this morning. Slightly disappointing. But the main point, yes, we are going through a slowdown. That is leakly to be because of the slowdown in Consumer Spending growth because of the rise in inflation. Some are saying were two years behind the recovery seen in the u. S. Is it that bad . In the eurozone it could be more than that. If the uk, not as bad. If thats the case, what do we do with Investment Strategy . You still want to be overweight growth. It feels like if you look at the marginal flow coming in, you have a position in the u. S. , thats the driver ahead. Probably a bit more focus will be on eurozone, maybe emerging markets and europe in particular. Big markets are underpositioned and there could be upside there. Underpositioned in europe. What do we do with the currencies . I would harken back to the difference between the eurozone and the u. S. And that gap. We would argue that the market is underpricing the fed. As a result of that the dollar is underpriced. We would be constructive on the dollar. We put out a short euro versus combination. We think thats good. Down side you could see euro dollar moving to 1. 04 1. 05. If we start to see tapering, in the states once they started seeing tapering, the dollar rise. You see stronger economy, the currency rises. Once basically the euro rises in all scenarios at the moment . I think it comes down what is priced into the markets. I think our view is if you talk about 2017, we think the most likely large move is that u. S. Yields will rise significantly this year. We think european yields will rise via a small amount but nothing like what we will see in the u. S. I think your scenario that you mentioned is probably a nice scenario for 2018. But i think in 2017 i would stick to the dollar as the best performing currency. Okay. Putting it altogether, as a fund manager, what am i supposed to have in my fund at the moment . I think our view is that theres still upside to go forward in equities. But its very much a stock picking environment at the moment. Two things were focused on is either one, opportunities with a strong value or two, clear secular growth trends, particularly in the Technology Sector at present. Okay. Technology sector stateside . Blue chips . We think theres more Technology Opportunities in the u. S. They are reaching highs every day now. Clearly. What we saw when trump was elected is a sharp reversal from growth and quality into value. Thats been unwinding. When you take a longer term look at the outlook and you say where do you really want to be what are the secular trends that will grow in importance regardless of gdp, we think there is still great opportunities within the tech sector. Okay. I really want to take all of your questions. But there are more comments. You are so sweet. Commercial property, barry writes in, longtime viewer, he asked about commercial property that uk house prices have been falling for the second month at an accelerating rate. Where does this leave the commercial Property Market . I think in general the commercial Property Market is diverse. Residential prop cc certy has b soft for quite some time. What were beginning to see now, again in the rest of the residential space is really the markets being affected by incomes being squeezed. And not seeing that so much in terms of the volume numbers. But certainly in terms of house prices. We are beginning to see, as we saw with nationwide figures first thing this morning, the annual rates of inflation coming down again. Thats why the Macro Economic trend. Thank you very much. I cant thank you enough. You taught me so many things. I was just a kid when i started. And we dont know everything. You taught me so much. Thank you. Its been great. Thank you. Thank you. Sorry. I wear my feelings on my sleeves. Phillip shaw, chief economist of investing. It is time to say goodbye. We have 15 minutes left of street signs. And my time here at cnbc. Again, thank you very much. Im glancing through your emails. Im moved. Willem writes in and says i watched every day for the past 13 years, where has my life gone. I know, its been a lifetime we shared together. Many of us, you viewers and myself and the guests. Thank you very much. Well be back after the break with more. I am totally blind. And for years ive struggled with non24, a circadian rhythm disorder that can turn my sleep cycles upside down. It kept me from doing the things i truly love to do. Sometimes id show up early; sometimes i was too late. And sometimes, even though i was there. I didnt really feel. There. Talk to your doctor, and call 8442342424 to learn more. Hi everybody. Welcome back. Youre still watching street signs. Im louisa bojesen. Now, as said, today is my last day at cnbc. I just wanted to take some time to talk to you, the viewers out there. Because there are three groups of people to thank from my perspective after all these years. One is my fantastic colleagues. Im going to say goodbye to you afterwards. Not time to mention all of you by name. I appreciated the environment in here. We cant go to air without each other. Thats been obvious to me from the beginning. So thank you. The second being the guests that have come in. Such as your good selves in the studio today. Without you guys, there would be no show either. As i was saying to Peter Oppenheimer earlier, unless you take time out of your schedule, we cant do it. Of course the viewers, yourselves. Over the years, you have been so, so amazingly kind to me. Even with the mistakes ive made, et cetera. Ive been asoundtounded how mucu know about me. Elmar, your letters are so treasured. Its just amazing. Pat from baltimore knows that i love prince, and sends little memorabilia things. I have prince memorabilia. George clinton, i love my funk. Females in art. Women around the world. Letters. You know, the things from the refugee camps, they mean so much to me for different reasons. I just really appreciate it. So thank you so, so much. But i wanted to tell you that ive read and seen everything that youve sent in as well. I know you, too. And this is a tribute to you. Now ive had to cut a whole bunch of your names because its way too long. Pat from baltimore, thank you very much. Elma, kai, youve been with us from way back. Linde in beirut. I dont have a dog. I hope your son is doing well. Duncan, always so chatty. Perma bear. Patty with the beard. Jeff with your kindness. Charles. Mrs. M, all you women, you rock. Jared, i know that you like pure cocoa beans blended in your protein shake. Mike in miami, steven, you live on the scottish border. Always had trouble with your tv signal. George in geneva, how are you . Writing in tirelessly with your ecb questions. Will willem. Ian, youre nuts about the greek banks. The poems that come through. The viewer that i call aloha. You write in almost every day from hawaii. Alan in dublin. Bernard, power lunch, go power lunch from way back in the day. Amy from arizona. Steve, hes half danish. The list goes on. Mr. H. Dutch bart. Martin, i know you like the opera. Arthur. Julianne from cyprus. Paul, you wrote me simply saying a jello comment. How can you tell if there is an elephant in the refrigerator . Footprints in the jello. Thank you very much. And also through the years, many of you writing in and just contributing with your really bright, bright comments. Thats been so appreciated because it helps to make all of our days that much more interesting in here and the show that much better. Many brains are better than one. It wouldnt have been the same without you. If i havent mentioned you by name, its not my fault. Its my bosss fault. Because we dont have time. Gentlemen, anything in particular you want to say before we round off. Its a pleasure having you in here. And how things have changed. I knew many of you before the financial crisis. Thank you very much. Its a pleasure and honor to be here on your final show. We appreciate that. Im wondering where is the euro dollar going . Definitely going lower. Our forecast is parity. We think this is an excellent opportunity to sell. Except its moving higher. We sold is at 1. 0930. Were now below 1. 09. Mr. Mario draghi helped that with dovish comments. The key driver is the fed. Look to see what janet yellen does. What we get priced in at the fed this year. We think the dollar will have a good year in 2017. Were going to take the other side of that trade and go with 1. 20, but thank you very much. How is the violin playing going . I remember that. That was quite memorable. Quite unusual, i would say for a financial program. Youre a musician. Two golds now. Trying to get them more interested since the first time we heard about an Investment Fund involving violins. Again, thank you very much on behalf of myself and all of us at ubs. Its been a pleasure. Any investment tips to give viewers . Have faith in sterling as well. That was one of our out of consensus views. Fair value and foreign exchange, never treat that as a target, always an anchor. Faith in foreign exchange. Faith in life. Alex, how are you . Very good, thank you. Been a pleasure being on the show, talking about everything from robots to wine with you. I know. You always bring in the Trend Research that you do. Its so interest. Its always about the future. Yesterday is gone. Its always about whats coming up tomorrow. If you can put that hat on, tap into some of what. What should we be looking at now . Think being molecular diagnostics, about space. Most recently written about service robots. Everybody knows about robots being in factories. The next stage, particularly with the olympics in japan in a few years time. They have huge demographics in that country, you will see robots working in taxis, working in cafes, collecting tickets. This is the next phase of growth. Im closing out at a perfect time. We all will be automated. Thank you very much for all of your unput and coming in to make our day that much better. That is it for this time around. Thank you for 17 years. Continuous coverage of a Financial Sector in crisis. Lehman brothers being the top story. They filed for chapter 11 bankruptcy. Stephen sedgwick joins us from the markets desk. Youre seeing him early on this morning. There you are. Hi. The Pan European Exchange map on the wall. Looking at a lot of red today. We are indeed well underway here in canada. A bit windy to say the least. Sir Martin Sorrell is beside me. Lets check in at gold. We have not looked at the gold session chart for some time. Oil prices heading higher. Welcome back, you are watching squawk box on cnbc. Once upon a time, there was a mobile phone industry, along came the iphone, bam, that was the end. Im louisa bojesen. For years, centurylink has been promising fast internet to small businesses. But for many businesses, its out of reach. Why promise something you cant deliver . Comcast business is different. We deliver superfast internet with speeds of 250 megabits per second across our entire network, to more companies, in more locations, than centurylink. We do business where you do business. Good morning. Market alert. Nasdaq futures jumping after big beats from amazon and alphabet. European banks also rolling out results. Numbers from ubs, barclays and rbs straight ahead. And new this morning, President Trump threatens to terminate a south korean trade deal and warns a major conflict with north korea is possible. Its friday, april 28, 2017, Worldwide Exchange begins right now. Good morning. Happy friday. Welcome to Worldwide Exchange on cnbc. Im sara