Good morning, everyone im carolin roth great to have you back on the show once again. Were roughly one hour into the trading session. Lets show you how were faring. A bit of a mixed picture the xetra dax up 0. 2 . The ftse 100 up 0. 50 . The cac 40 and the ftse mib are slightly underperforming lets show you what european banks are doing this morning were seeing a rally across the board. Deutsche bank up 0. 2 . So, these banks, they have been rallying for a couple days now thats because the expectation of a steeper yield curve in europe but a couple other factors, such as shares at hsbc trading at twoyear high after Morgan Stanley upgraded the stock to overweight boosting the price target by 20 to 84 hong kong dollars londonlisted shares are trading higher this is the big story which boosted banking stocks across the world. American banks are rolling out massive dividend increases and buyback programs after the fed gave a green light to shareholder payout plans at the 34 biggest u. S. B
Europe. Bloombergng, this is surveillance. These tech stocks are on the move. That is filtering through to what we are im looking at suppliers over in asia. There are definitely gains on the index, but also here in europe. We do have an opec meeting on august 7 so that is your quick market check. Donald trump was involved in crafting a meeting with a russian lawyer. It provides an account made by the president s own lawyer to exterior. U. S. Senate has confirmed Christopher Wray as a new director of the fbi. Theas vowed to defend organizations independence. Bank shifting about 4000 jobs. The bank will transfer most of its possessions from paper to berlin. Bank official declines. Thestors in venezuela riskiest bonds are the in the world. France annually have failed to find common ground. ,ccording to person familiar italy did not budge. Negotiations im ready to come back to rome in september to try to achieve an agreement before the onting of the head of states 27th of this is bloomberg
Group, 275 bi 275 bilper share. The Italian Government is reportedly ready to inject 15 billion euros into monte dei paschi giving the shares a a boost, after the ailing lender reopens its debt swap offer to investors. Lufthansa agrees to mediated talks with the german pilots union, telling investors its confident it can find a solution to the longrunning pay dispute dating back to 2012. Goldman sachs raises its Oil Price Outlook for the Second Quarter of 2017, but warns Dollar Strength could limit the nearterm upside for oil prices. With markets i up and trading this morning, its a mixed bag. We are struggling for escape velocity in either direction. Pretty much flat line on the stoxx 600. The individual indices are really not showing a great deal of conviction at this stage. The cac is flat. The ftse flat. The ftse mib in italy doing a little better, i guess, than the average here. Even so, thats a modest gain as far as europe is concerned. I suspect just a bit of pause for thought a
Italian lender and allianz from any potential takeover. Theresa may wants a clean brexit but things could about to get messy if the Supreme Court rules against her. Were live in front of the highest court in britain for a landmark decision on article 50. Good morning, everyone. Lets kick you off with some data this morning. Looking at the eurozone january pmi, a flash estimate of 54. 3 for the composite pmi verses a forecast of 54. 5. A tad weaker than expected. The december composite was 54. 4. I want to dig deeper into the manufacturing numbers. Manufacturing pmi flash is 55. 1. That is higher than the forecast. The services pmi estimate is. 53. 6 but that is lower. In germany the flash pmis were weaker with manufacturering stronger but services weaker. That tells you that, yes, we are still seeing some improvement, and that leads us on from a very strong Fourth Quarter which points to 0. 5 growth for the eurozone, so seeing uneasiness. We still are. Today is a super, super important
The month of december. That was the highest reading since february of 2011. So a bit of weakness in the month of january. Looking at the sub components, the ifo Current Conditions index is at 116. 9, bang in line with the forecast. But the headline index below expectations. The Expectations Index is at 103. Once again below forecasts. Louisa, yesterday we saw a mixed performance when it came to the pmis. The Services Number for germany was below what analysts had been anticipating. Manufacturing was stronger. Overall the Fourth Quarter in germany has seen a strong end to the year what were seeing in january is a more mixed performance but a continuation of that overall strongish trend. Some say theres the seasonal factor at play, i think it will be interesting to see how this data holds up, especially after some of the projection indexes on optimism given the huge changes were seeing in the states on policy. Whether or not that filters through. Glancing at European Markets, were higher