Rebuild relations. Marketshis is bloomberg middle east. We just saw the end of the First Quarter in the u. S. And europe. Lets take a look at how markets performed friday. Cautious tone. People usually dont want to begin building new positions. Stocks hiteuropean 600. About 0. 5 up. Take a look at what happened. 5. 7 over the full quarter. Best quarterly performance since 2015. Again, look at european stocks. Up almost 5 . Pretty amazing. Yousef it has been one of the quietest quarters in a long time. There has been plenty of action. Two hours away from the opening of the emirates market. Thegy weighing in on broader sentiment. Pretty much unchanged. Strong gains in consumer discretionary. Also, utilities. The weak spot, material stocks. Helping to push to buy forward to read first bank of abu dhabi dubai forward. Showing dividends in kuwait. Clouding the picture. Cross over gears and some of the key assets we are watching. What a magical number, up 0. 75. What a quarter. Who would hav
Replace the president s friend as she replaces the finance chief. Is 8 00 a. M. Across the emirates, 4 00 a. M. In london. In hong kong, just past noon. Welcome to labor markets middle east. Lets take a look at the state of play on the markets. We cant ignore what is happening in the u. S. , because thats whats driving the sentiment we are seeing across the board in asia. Trading for almost 20 minutes, down close to 1 . As you can see, despite the topicshaven of the yen, is also down more than 2 . It really is all about volatility as a result of the latest paul showing trump in the lead. Manus yeah. C onink if you go to ele your terminal, you can pick up the sentiment. This is very reminiscent of what happened in the 10 days before brexit. If we look at the bank of america volatility chart, youve mentor rumpall trumpometer, dollarpeso. This is in the five days. I took it back a little bit further. If we go back as far as june, you can see volatility is nowhere near where we were on bre
They failed to produce a majority government putting credit at risk. Anna welcome to countdown. It is 6 00 in the morning here in london, Independence Day in the united states. Markets. To the wipingn the asiapacific out brexit losses but if that makes you think we are also seeing money going into safe haven assets. There is a surge going into the silver, indicated by this dotted line. Weve seen a surge in safe haven assets because part of the enthusiasm for equity markets a nature comes from the expectation that we might see more support from Central Banks. Lets put up the risk radar. We mentioned the bounce in equity markets wiping out brexit losses and commodities also on the rise. Commodities, the wti price is fairly flat. Nigeria having a trouble enforcing a ceasefire in oriole country. We have Seen Movement in the Australian Dollar. It dropped but then recovered. Neither large party in australia managed a majority more coming up throughout the hour. We will have more analysis fro
Happy independence day. Lets get the first word news. In fact, before do that, lets see if we forgot breaking news for you. Ppi numbers coming through from the eurozone. 0. 6 increase compared to an estimate of 0. 3 , stronger than had been expected and the drop year on year less than anticipated. A stronger inflation picture. Now, lets get the bloomberg first word news. Nejra u. K. Chancellor of the exchequer George Osborne has set a goal of lowering the the Corporate Tax rate to 15 . He accepts the result of the e. U. Referendum and wants to mitigate the Economic Impact of brexit. U. K. Construction unexpectedly contracted at the fastest pace since 2009 in june. Thepmi slid to 46 as impending vote on Britains European Union membership stymied residential voting. Standard poors estimate a 0. 8 hit to eurozone gdp in 2017 and 2018 in the wake of the u. K. Brexit vote. It also predicts that britain will barely escaped a fully fledged recession as it sees a 1 drag on gdp next year. This
To place all of this volatility in perspective. We see is a flight to quality. We are in for a very long negotiation. That is what the markets are afraid of. Matt bloomberg best is straight ahead. Matt hello and welcome. Im matt miller. This is bloomberg best, your weekly review of the most important Business News, analysis and interviews from Bloomberg Television around the world. Lets begin with a day by day look at the top headlines. Monday sought more potential monday sought more potential saw more potential fallout from britains vote to leave the European Union. A little over a week after the u. K. Voted to leave, francis france is pushing ahead with the claim for the city of londons euro clearing business. They have laid out why he thinks paris is the new natural home for the operation. You have france in terms of organization. I think we have much more players now in paris. And much more deep marketplace interest. He seemed confidence that france could get its piece of the u. K.