Of the table despite market expectations. Well talk Central Banks in the reason why hans is in frankfurt. Jpmorgan trading revenue dropped 20 this year amid the global rout. But the bank is gaining share in europe. Is this bad news for Deutsche Bank . We will talk about that during the next hour and a half. We are a half hour with the European Market open. Let me show you the fair value tech elation we have this mark. Fairly flat, i little bit of civility may creeping back into these assets after some fairly big days. You can see london just a little bit higher. Let me take you through some of the other assets you need to know about this morning. Pound thatg at a is back above1. 40 but has gone below that overnight. If youre on the bloomberg, go check it out. It is a great story but where economists see the pound going. Dollar yen continues to move. You could see in overextension of the fed doesnt hike. You could to the move all the way to 1. 05, what would that do to the japanese econ
Manus welcome to countdown. Anna a very warm welcome to the program, just past 6 00 here in london. Manus, let us talk about the last 24 hours that was equity markets. Rocking, bouncing off a very positive month for equity markets. The nasdaq having the best day in six months, just to put that in context, the yeartodate losses trend down to just 3 . Some real equities coming through. Manus that is what we have here. This is the s p 500, as you say, the loss trimmed back to 3 . Volatility trimmed back by 14 . Sinceggest oneday drop january. Deutsche bank saying get on with it. 11 since the middle of february. The u. K. Market has rallied 11 . As in the rallied 8 since the middle of february. It is a real shift, having passed through the needle. , there counting the msci asian market lagging. You have that downgraded by moodys on that view of china. The yuan is stabilizing. The manufacturing data really caught the zeitgeist. Anna anything positive around that, to put it in context with t
Hasnt the easy money already been made . Ood morning hans today is all about the banks. Italian banks, german banks, japanese banks. Hans banking is a zero sum game. It is not like cohosting. Time you talk is time away from me. What is good for Deutsche Bank is best for a number of. Nomura. Or we may finally have something good to report about budget bank. About Deutsche Bank. Guy it is going to be interesting if thats interesting as they walk away from their fixed income. Look, the italian baking story looks like fun. Huge moves yesterday when it came to the italian banking sector. That rippled around europe. Lets show you everything european markets are opening this morning. Veryis interesting is a flat core barely budging. Likeap test the dax looks the dax looks like it is going to be firmer. It doesnt look like a rip roaring start to the european day which is interesting given what is happening with the italian banks. Hans what is happening with the yen, we finally have a weaker ye
Welcome to countdown. Im anna edwards. Lots of data to catch you up on. Manufacturing was stronger than expected, its jobs day, of course, in the United States. Revenue falling 16. 3 , it was estimated to fall by 15. 5 . More of a fall in revenues in that important barometer some say of Chinese Consumer habits. Aside from all of that, it appears to be the sentiments of the large corporates where the economy is right now. The lowest reading since the middle of 2013, basically the indicator about Business Conditions among Large Enterprises in the Manufacturing Sector issued by the bank in japan and in trouble perhaps. This is having ripple impacts on the classes. Over in japan, the nikkei down by quite a considerable margin, by more than 3 , down for its fourth day. Its spreading across asia. More broadly, lets look at the wrisk assets. The yen having in big emoves, ronger against the dahl, the pound. The dollar heading for its work week in two months. Continuing to retreat on concerns a
Watching over in france, it is just past 7 00 there. Lets get there now, what were hearing from airbus this morning. The airplane maker telling us that First Quarter earnings is coming in at 501 million euros. That is nicely ahead of the estimate of 473 million euros. And they confirmed that the 2016 target, saying theyre going to focus on the program to ramp up, and the transition to some of oaircraft. They see deliveries, cash, earnings loaded to the yearend. And theyre also giving us guidance around cash flows, 2016 is stable. The statement about the neo is interesting, a lot of the focus on the work they are putting into raise production rates of the single engine of the narrow body, and the neo begins production. That is a real focus. Units on the backlog. A nice problem to have. But they did have unit issues, delays in delivery. The company said it was teething problems. More of what that means in terms of delivery, cash and earnings loaded to the yearend. That is what airbus is