And Goldman Sachs reports today after jp morgan, citigroup and wells fargo set aside almost 28 billion for bad loans in the Second Quarter. Its 6 00 a. M. In london, home. M. From welcome back, nejra. I missed you. Lets talk about the forecast for the Third Quarter, thats what everybody is focused on. Third quarter net sales coming in at 3. 6 billion and the estimate was for 3. 8. Third quarter net, the estimate for 3. 8. An are looking at acquisition of berlin glass. , its themargin Second Quarter, 48. 2. The guidance there, 48 on the margin. The estimate was for 48. 1 . Looking back, nejra. Nejra thanks, and its interesting, on that acquisition you talked about, financial details not disclosed yet, that something maybe the market will wait for at some point. A final dividend in the Second Quarter, but its been an interesting couple of days in markets. Manus it has. Who do you put your faith and trust in . Faith and trust in the person at the front of the bus. Jamie dimon says we are
And 5g. A call between Boris Johnson and eu officials and is with the Prime Minister saying he sees no reason a brexit deal cant be reached by july. The eu councile president reiterates a level Playing Field is essential. 6 00 a. M. In london. Buying backe bond stock has been delivered. I like what john says on bloomberg. It reminds me of my mother. You will rue the day you executed this in the market to buy these individual bonds. There was ar, discussion. Essentially, the bond buying creates this real body of support to the equity market, going deeper into the capital structure, you extrapolate forward. This is the boost to equities. Do you think i will rue the day i said this . Nejra do you know what . I love that word. It is one of my favorites in the english dictionary. I noticed that in the journalistic column. Im glad we are on the same page. It is really interesting, because what we heard from the fed, the list given to markets, what it does is show that perhaps any concerns th
Stimulus package. Billions in aid for municipalities. They are expected to boost bond buying by half a trillion euros today. Endorsed china security law proposal. This as hong kongs most prominent activist tells bloomberg he wont leave despite a root to u. K. Citizenship. It has just gone 6 00 a. M. In london. It is daybreak europe. Annmarie hordern, good morning. Billion. G of 146 she did it. Angela merkel sets the tone for the benchmark for fiscal stimulus on a really global scale as we go into ecb day. Is it innovative . Is it different . This is about fiscal stimulus versus the angst of politics of america. Good morning. Annmarie that fiscal stimulus deal topped expectations by 30 . What does it mean for the Auto Industry . You mentioned the United States. What a 24 hours it has been since the last time we spoke, especially in the u. S. An absolute condemnation coming from the former defense secretary jim mattis, really condemning president donald trump. We will look into that with
And astrazeneca is said to have made a preliminary approach to gilead. A merger between the two would be the biggest deal ever in the sector. It has just gone see it 6 00 a. M. In london. Nejra, welcome back. You went away and you unleashed the burn. I know you are excited. Curvee never far from a steepener. Bondthis momentum in the market be a repricing or is there a risk from jay powell to the bond market . A few bonds at 1 . The older you get, the more enticing 1 looks. Good morning. Bears were really on a tear. Curve is the steepest in more than three years. It is good to be back. Last week was a memorable week. Was it really a turning point for risk assets . That is the question. How high will the hurdles be this week . The ecb went above and beyond last week. Can we expect much from the fed this week . Futures are positive in the u. S. European futures are looking a little negative. Eighth day ofits declines. A lot of that has to do with the euro strength. We have pulled back fro
Powell today. The u. K. Begins its low reopening as the business secretary says employers have a duty to keep staff safe. We will get a glimpse at the economic fallout from coronavirus in firstquarter gdp figures. More earnings coming in across the bloomberg. Taking a provision in this quarter of 326 Million Euros. Ae market penciled in loanloss provision of 286 million. Over a billion euros in loan losses. Nowhere near what you see with the spanish or italians. Theres an operating loss at the bank of 277 million. They penciled in 159. 9 Million Euros of a loss on the quarter. Thats the state of play with commerzbank. We will keep a track on that. We are tracking the losses across the map. What do you have from abm abn . Nejra 1. 11 billion euro. The estimate was 656. 2 Million Euros. Thats a bigger fourthquarter loanloss provision and its the red headline. Got,rms of what else weve they say they will reduce their strategy, addressing efficiency and cattle capital. Its an update from a