Hell drive down costs. With ceo ben then burden shortly. The r. B. I. Governor will not be drawn. This after leaving rates on hold today. We are less than half an hour away from the European Equity market open. It looks like a fairly fairly stolid a fairly solid start to the day. This is what you want to look out here. This is the percentage risk price. The ftse is liking a little bit. European isor looking up a little bit. A solid start for european stocks. We have solid gains across the board in asia. I am showing you only the nikkei and the hang seng. Some of the smaller indexes, especially in china overnight were negative and have now turned positive. Games and equity in asia, games and currency as well. The centralollar as Bank Leaves Rates Unchanged but gets a little bit more dovish and it leaves its main benchmark rate unchanged. It gets a little bit more dovish because it is not seeing the inflation that it would like to see. The pound up 1. 5 because of thin liquidity and high
Critics and that savers cannot expect returns without Economic Reforms to rekindle demand. It is just gone 6 00 here in london. It has just gone 7 00 in berlin. In terms of these nubbers from commerzbank, the net profit, that is against a forecast of 160 million euros. Just a touch above or in line of the forecast. In the ratio. 148loanloss provision million and the estimate was 170 million so it looks as if theyre having to make fewer provisions for loan losses than had been expected. Before loanloss provisions or 2. 3 one billion 2. 31 billion. The low Interest Rate we find ourselves in means that barclays suggesting that Net Interest Income would most likely be dampened. Keep an eye on what they say about that. Another big theme has been costcutting. They are talking about aiming to keep their cost base stable. This deal see a full year moderate loss in long provisions. There talking about considering increasing the strategy of market share. We had already heard from the ceo at the
And access for the greeks . And to the u. K. And what is on the board. Barclays is down 1. 6 . I will have something later from Anthony Jenkins. Probability that profitability is up and beat estimates. They made bigger provisions on Foreign Exchange. 750 Million Pounds of provisions in the fourth quarter. During the conversation jenkins could not or would not you said yes to may Reasonable Estimates and said they were legally binding to do that. They didnt go with other institutions with summative regulators and of when some of the regulators and some of the banks. Was it a missed opportunity . That is the question. In terms of the rest of the market currencies, you mention the aussie dollar a its absolutely on a rip. And rallied 1 at one juncture. House prices are up 14 year over year. Reasons why they have not lowered the rate for as they may need to cut rates at another date. One of our most accurate forecasters suggested in the Third Quarter you are going to see raise up 1. 5 for t
Greece is in the forefront of everybodys mind for it it seems it will make the 200 million payment and then what . In terms of the agreement and labor laws and pensions will they actually have to default or exit . We had George Magnus saying this Time Next Year he feels greece will be potentially moving toward the exit of europe. We are going to get a short do over at kicking the can down the road. Italy up by 0. 4 today. We had Market Action over in australia. Targets reaction to the Central Bank Cut once again a record low rate for australia. It seems a slowdown in china continued to hurt in terms of the job. Australian dollar is pushing higher after the rate lower to 2 up by 0. 25 . Most economists we spoke with 25 of 29 without we would get to the second cut this year by australia trying to stimulate its economy. The aussie dollar goes higher. We had papadavid who is confused by some of the currencies earlier. Meanwhile, a Norwegian Bank could indeed move as well. According to what
Labour are now and neck. It is a nationwide campaigning marathon. Mark welcome to countdown. Caroline im caroline hyde. Anna mark can germanys biggest carrier complete its turnaround . We will bring you the numbers as they break. Caroline plus exclusive interviews you dont want to miss. First, rayban maker making the second version of google glass. We will speak to the chief executive in a couple of hours. Mark we catch up with the finance minister in another exclusive conversation. Caroline ubs reported firstquarter earnings that beat analyst estimates. The profits almost doubling it jumped 88 . All divisions beating analyst estimates. Investment banking up 81 . We had plenty of volatility in fixed income and equities. Meanwhile, Wealth Management saw profit up 54 . 14. 4 billion. Very interesting. They will be changing the pricing amid negative rate outlook as we see many going into negative territory. That could affect the amount of customers they have but they feel they will have n