Inconvenience. British Prime Minister theresa may says the uk will build the closest, freest trading relationship possible with japan as she continues her postbrexit trade building mission. Difficult to stomach carrefour shares sink to the bottom of the stoxx 600 bringing rival casino down after issuing a profit warning on declining margins. Battle stations. President trump hits the road to campaign for a tax overhaul, but theres a lack of specifics and plenty of opposition in Congress Good morning welcome to the show. Lets look at how european markets opened theres more green than red on the screens. Taking the lead from a positive u. S. Close overnight and positive momentum out of asian equities this morning. The overall market up by 1. 28 points, so just over a third of a percent so far today lets look at how the individual bourses are trading across europe its really the xetra dax which is at the highest, crossed the 12,000 point eventually and is now up again around half of a perc
And details on the unwinding of the Balance Sheet. We see all of our major averages slightly off their record highs as we wait for that. As we wait for that, lets take a look at the bloomberg here. We have a chart of the s p 500 versus not just the fed Balance Sheet, but the return on the assets that the fed holds. Andave the s p 500 in white that securities owned by the. Ederal reserve since 2015 we have seen them go sideways slight gains in some performance, certainly outpaced by those of stocks, and we have had a lot of commentary around what the unwind is going to do since the conventional wisdom at least is that quantitative easing helped the growth of the growth of the fed Balance Sheet has helped the stock market, so we might see this hurt the stock market. And speaking of shrinking, we are watching the Food Industry run into some struggles here. General mills out with its numbers, three years sales slump is what has been experienced here. Earnings missing estimates, sales missi
Stimulus, not less. Yvonne glad you could join us. We are hitting a pause button in the trading, after what seemed like a long runup in stocks. We did see the selloff when it comes to equity markets in the u. S. A lot of talk in asia about the fed and centralbank talks. Indonesia coming out later today. We could see centralbank emergence playing through in this part of the region. Kathleen isnt it interesting coming into this year, the whole story was about Central Banks moving in the direction, that they would all be heading toward the exit. Now the Federal Reserve is like, where is everybody . Everyone has their own reasons to hold tight, including the european Central Banks. I should say reasons to stay easy. Yvonne yes, that is certainly the case. We did not get a good lead up for asia. How are things looking in the wall street session thursday . Seems a lot had to do with tech. Kathleen a lot of digestion, people trying to figure out where they stand with the fed and capital marke
Whether they can deliver that momentum still. The atmosphere is electric at the tokyo motor show as they present their vision of the future. Betty speaking about electric, breaking news on south koreas preliminary thirdquarter numbers. Ier on south korean gdp, up 1. 4 , quarter on quarter. Much bigger than economists had expected at 0. 9 . More than double what we saw in the second quarter. Ofr on year, a healthy rise 3. 6 . That is also above the estimate of our rise or expansion of 3 . Well above what we saw in the prior quarter. Helped likely by the continued export of electronic parts, particularly for smartphones. It is interesting, the markets have continued to rise. Maybe that is adding to Consumer Sentiment in south korea, despite geopolitical tensions with north korea. That is the risk, as always, with south korea. Yvonne have not seen the numbers yet, but 3. 6 is a threeyear high for south korea. We have a chart that says it all. Is the bok going to be the First Asian Bank to
Markets are set to break today. Manus welcome to bloomberg daybreak europe. Right here in the city of london. Santander missed in terms of net income but had long ratio dropping, statoil going for a cash dividend. That could signal a big turning point in the oil market. Those are your two opens. Lets give you the rest of the breaking news. When it comes to the nordic, continuing to see synchronize growth in the domestic markets. Markets remain margins remain stable. In 844. 1t had penciled Million Euros. Improved. Lity has management buffer increased by 180 basis points, the highest ever in terms of capital. This is the bank that said last month it would move its headquarters to helsinki from stockholm after complaining about swedens strict regulatory environment. The intention is to save 1. 3 billion in costs by moving their headquarters. Structurally they can bring down the cost and increase efficiency. Those are the questions we will put to casper von koskull after 6 30 a. M. This m