European banking and their struggles but a lot going on across the commodity space as well. I am stunned by the gloom among the pundits in the last few days. I honestly can say i have never seen it. Each of them has an interesting shade and color. We will have some optimistic push optimism to push against the gloom. Francine when you talk about gloom, i know in davos, any ceos were optimistic and there is a reshift. Lets get straight to the bloomberg first word news with vonnie quinn. Consumer prices in china keep rising although they are still below the governments target price. It is the Third Straight monthly increase. Food prices with a big reason. Investors want to know exactly what the and come and president does incoming president of the philippines will do. He was elected with 39 of the vote and campaigned on a platform of fighting crime. He has sustained Investor Confidence on an economy that grew an average of 6 a year in the last decade. North korea staged a massive parade.
As they warn that trade in china is not recovering as quickly as hoped. Shares in vw rally to the top of the dax today after the car makers new ceo vows to wrap up a recall of vehicles effected by the emissions scandal next year. Midweek in the markets. So we get to talk about beers, dont we . Its a little bit early but theres a big takeover battle brewing right now. Sab miller and ab imbev. This is the third attempt to try to buy up sab miller. They have a 34 premium to sabs last close when they first made this announcement to the markets. We have gains today up 3 so far. And actually ab inbev seeing good gains as well. Its hoping to get lucky with with an improved public offer for rival sab. They have offered 42 pounds a share for the british beer and that represens 44 premium to sabs Closing Price on september 17th. They rejected the two offers by the way at 40 pounds and 38 pounds a piece but the major shareholder is urging the board to try to accept todays offer and it is going to
Power play, edf boosting its power target this year thanks to stronger new output in france sending shares sharply higher. Lets get straight to the market action. Glencore shares trading higher after debt retux plans. The company outlined an ambitious net target between 18 and 19 billion next year. Along side this the mining and Trading Company plans to cut capex as it grapples with a continued commodity route. Share prices up 10 in london trade. Thats also helped boost the Mining Sector more generally and one has to say, susan, that glencore has handled this latest head wind its faced pretty well. If we rewind just a couple of months, wouldnt think it would have managed to reduce debt targets so significantly. Yeah, credit default swaps were pricing in a 50 chance of default from glencore. The stock is still down 70 , you know, at one point we were down 75 on the year but is this really good news . Because from what i understand yes were looking at 2 billion in Free Cash Flow but then
Wall street. A look of what is going on market wise. Good morning. I usually start with a map of overall asia. Story to one of the Biggest Industries which is taking the lead. Cutr china surprise rate for the first time in two years, we are seeing iron ore, taking a hit off by 44 . These big ones. Gain today, 10 to boost iron ore. All rising to an upset. You are also seeing gains. The big was like rio tinto. These are the reactions. The overall picture. You can see it is there. Seeing it clearly. Japan is closed. We look forward to the opening of shanghai some. Australia, you can see all of these off by 9 some up by 17 . A clearly that is driving the momentum. Dollar, get rid of that marker. If i pull up the aussie, there it is. On friday after the surprise rate cut from china, you saw this right here. A bit of a strengthening of the currency a weakness in the currency. That traits right about their. What to watch out for. Over to you. Thank you. Political gridlock after the resignatio
Relationships within themselves. Lafco demonstrated it better in the engineering their portfolio than others we feel that my name is went through the same cycles through the 2004 they sold all the assets and 2007 fund a tough time to start a fund theyre doing well. I find the 2007 fund they still put in a lot of the money fast when you look at 2006 or you know or right around there thats when we put it in quicker or 2005 i just seen the worse of the worse so ive gone through each one as you said they were the bank and they couldnt even get the loan from the bank so long as were not loading up what good many and the nordic system is if you recall over the last couple of years weve emphasized managers that are 55 and 50 actual under that in many cases it is depending on the market we do take into account we get comfort that my name is. My name is will recognize that how theyve used the leverage in the most recent fund gone to the protection textbook d only the rate of 64 against an l t v