Moves higher on reports that saudi arabia and russia could cut global output by 10 Million Barrels a day. This comes as the u. S. Cuts its Production Forecast ahead of tomorrows opecplus meeting. Welcome to bloomberg daybreak europe. After the rally and equities yesterday that took them above the march low, the cac 40 and the ftse in europe also into bull market territory. You have to ask yourself whether this is the biggest bull market trapped in history or the shortest bear market on record. When it comes to credit, you have howard marks saying maybe now is time to move from defense into offense. Cautions saying cautious positioning has served its purpose. Waiting for a market bottom. You look at bernanke and he talks about a gradual restart to the economy. Maybe we are all running before we can walk in that regard but it is not going to be the Great Depression according to ben bernanke area good morning. Nejra we were seeing futures negative in the asia session. Seeing some green on
Welcome to bloomberg daybreak europe, our flagship warning show from here in the city of london. I am an edwards. Anna edwards. Manus cranny. 13 million dutch people go to the polls, the open in just under 13 minutes. Immigration, integration, and islam are the key issues in this debate. The issue is populism goes to the polls in europe today and the dutch put a firewall. The exit polls will be at adequate p. M. Tonight, we will be live in the hague. Manus on the ground to cover the dutch elections. With us throughout the program. Is coming in. News coming in. Bitda shy the 1. 4 billion that was estimated. Sales were up by 13 . Giving us some guidance on the picture as a report the fullyear numbers. 1. 6fullyear net profit billion. That is in line with the 1. 6 billion that had been estimated. Lets leave the retailer there for the moment and watch shares at the start of trade. We need to talk about volatility and in a number of places. Oil is increasingly one of those. Give uti soaring
Negotiations with the eu. Anna a very warm welcome to countdown everybody. Manus the torch paper of risk is back on the table. What do i mean . The damage is almost throwing fuel on the fire. European Central Banks considering winding down bond purchases before ending quantitative easing. Are they . They emailed a statement to say manus the story says they have not excluded suspending the past of the current sorry extending the current program, at the end date of march 2017, at the price of 480 billion euros per month. Not saying it is ending by giving us clues, talking through the officials at the ecb, how they will do it when they do it . This is when mario draghi said we do not have a conversation about quantitative easing. 0 . Yields back above this is the critical thing. Is it a push to steepen the yield curve . The euro would strengthen, if this is the case, if the european Central Banks are indeed generally considering how to change, how to change and take what bill gross said,
It means for the rate hike. And a glass halfempty. Bloombergs pessimist guide covers potential for chaos in 2017, including a merkel defeat. Less than 30 minutes to go until the start of your trading day, and this is how this huge market is shaping up. Matteo renzi, there is a plan b, according to the press. The italian treasury considering a plan b for the recapitalization of monte dei paschi. And germany just keeps on producing. Manufacturing comes in at 4. 9 . The market was looking for barely an inch higher,. 6 . It took us three days to recover from the brexit battering in global markets. It took us three minutes for Global Equity markets to recalibrate and reconsider what is happening in italy. This is your gmm function in terms of the g20 function. You can see that, as far as emerging markets are concerned, a little bit better. When it comes to the dollar, the rail up, the renminbi keep an eye on this. A great flash trade went through. It was saying the renminbi was worth 7. 5.
72 . Investors regain postbrexit composure, Federal Reserve strikes an optimistic tone. Will the fed hike in 2016 . We speak to the ceos of Anglo American. They are coming up over the next hour. Caroline german sports good maker is raising its forecast. We have a flurry of earnings. Adidas coming out saying 2016 net continued operations will be up 35 to 39 . Well ahead of the 25 growth seen previously. Upping their forecast, secondquarter sales;ow sales uparter group 21 on ethics adjusted basis. This is an upgrade from the secondbiggest sports maker in the world as nike is clearly been making inroads into china. Well see how much we can see a turnaround in adidas. Lets have a look at how the futures market is spiking itself up for the market opened. Pretty lackluster after the Federal Reserve yesterday, we are seeing the futures market flat at the moment. This is your assets. This is the futures market currently, flat. A little bit of profit taking after the Federal Reserve seems to be