The action begins right now. Lets get right to it because the financials just posted their best day since november 30th, 2011 so as the rally in the banks signaling an all clear for the markets . Lets get into the money and find out. Dan, what do you say . I dont think so. Its obviously a very healthy rally. Saw it in the european banks and in the u. S. Banks and two pieces of news cause it and we started out morning with Deutsche Bank saying that they are going to buy back some bonds that have been, you know, something that people have been a bit worried about about their Capital Position and ability to pay interest on the bonds and the last 24 hours had jamie dimon buying 500,000 shares of jpmorgan stock so weve had a massive rally over very oversold conditions with horrible sentiment and to me it sets up for a good fade because if you look at the two pieces of news, they remind me of the sort of news we used to get back in 2008 from Financial Institutions when things were a bit hair
Lets get right to it because the financials just posted their best day since november 30th, 2011. So is the rally in the banks signaling an all clear for the markets . Lets get into the money and find out. Dan, what do you say . I dont think so. Its obviously a very healthy rally. We saw it in the european banks and in the u. S. Banks and two pieces of news that caused it. And we started out morning with Deutsche Bank saying that they are going to buy back some bonds that have been, you know, something that people have been a bit worried about about their Capital Position and ability to pay interest on the bonds and the last 24 hours had jamie dimon buying 500,000 shares of jpmorgan stock so weve had a massive rally over very oversold conditions with horrible sentiment and to me it sets up for a good fade because if you look at the two pieces of news, they remind me of the sort of news we used to get back in 2008 from Financial Institutions when things were a bit hairy. Im not saying a
Lets get right to it because the financials just posted their best day since november 30th, 2011. Lets get in the money and find out. Dan, what do you say . I dont think so. I think it was a very healthy rally today. There was two pieces of news that caused it. We started out the morning with Deutsche Bank saying that theyre going to buy back bonds that have been something that people have been a bit worried about, about their Capital Position and their ability to pay interest on those bonds. And in the last 24 hours, we had jamie dimon buying 500,000 shares of jpmorgan stock. Weve had this massive rally with horrible sentiment. And to me i think it sets up for a good fade. They remind me of the sort of news we used to get back in 2008 from Financial Institutions when things were a bit hairy. Im not saying that any of these are similar situations. Sure. But the only problem i have is that these european banks even after todays rally, are still well below the financial crisis lows that
Headquarters in london. Im manus cranny. Now chinas president xi jinping landed in the u. K. Last night to a red carpet reception. And it is perhaps not surprising that he is being given a royal welcome. David cameron said the visit will bring more than 30 billion pounds of worth of deals and investments. Caroline hyde joins us. Good day to you. President xi will meet the queen later today. Tell me about the financial benefits, the deal that we expect to be announced. Caroline you said it. 30 billion pounds worth. Almost 4,000 jobs. Almost every Industry Group can be a winner here. They are able to access the consumers in china more. Structure within this visit. We understand xi jinping will be traveling to manchester. It is going to be Energy Winning out. Im sure it is going to be finance winning out as well. Energy. Were hearing over the potential deals, money coming in to help finance but also design, build Nuclear Reactors here in the United Kingdom. Were expecting Chinese Companie
Cuttingabia will be contractor prices, delaying payments. We know that supply is at record highs. Oil up by half a percentage point. Lets get on to the stock move. Deutsche banks move. Shire down 2 . Having to resubmit what was meant to a set what was meant to be a sellout drug for them. They meet with the fda, pending a positive trial data. Danone beating analysts estimates. Deutsche bank may like the reshuffle. Scale back on Investment Banking and become a more profitable institution. Heads are going to roll. Back to you. Jonathan well talk about that later. Lets see how that china gdp figure is playing out in asian markets. David english is standing by. Good morning, david. David equity markets here are neither here or there. It is not too hot or cold. Today, slowest paced since 2009. Slowest case since 2009. Since 2009. Ace very mixed. Most are down here it are down. China is closing up shop right now. We quickly raised early gains and now we are down. 5 . That is the shanghai comp