Bit of a reversal as they try to figure out what comes next. A lot of people saying this is not a floor but a temporary reprieve. Was talking to david westin earlier about the idea of Financial Markets with a bounce today but i do not know if the political markets have a bounce. You see the Jeremy Corbyn conference. By no means do i feel and all clear. Francine when you speak to traders and market participants, it is very clear that they believe Central Banks will once again step in and that is why we are seeing a little bit of a bounce. Tom can i say quickly how cool it is to have Alan Greenspan one day and mervyn king the next . We are honored. Francine but get to the bloomberg first word news. British Prime Minister David Cameron meets with his fellow European Union leaders today for the First Time Since last weeks vote to leave the eu. He will be pressed on how he expects the u. S. To trigger article 50. Ruled himself has out of the race to succeed cameron as Prime Minister. He was
O Deutsche Bank. Good morning. We are counting you down to the European Equity market open. We are 30 minutes away. Let me tell you that at the moment, wei is telling me it will be a negative start to the day. 50 is down by. 5 . The dax will be opening down. 5 . Lets talk about what is happening around the world. The turkish lira is down by. 9 . The the equity mark iet in turkey is also being pummeled. We have switched this to the g20 to capture all of this. China and japan are having a that they on equity front. But the real story is what is happening here with the turkish markets. Lets also talk about oil, a big theme today. After fridays massive drop, it is not bouncing back much. It has bounced back and little bit, but not enough to show up on my gmm. Here is the bloomberg first word news with Christine Harvey. Christine thank you. Oil has edghed higher as saudi arabias offered to cut output opens the door to a future opec deal. They do not expect an agreement this week when member
225 putting the figure had 20 million, although honda will not confirm that. The elections are underway in the philippines with more than 50 million voters eligible. At stake is an economy described as asias rising tiger. Follow me on twitter. Hong kong markets getting underway in 30 minutes. We are a pickup on index, up over three quarters of 1 . In two weeks. In this will be the first time japan has been online for all five trading days of the week after being shut last week and that prior friday. A little bit of a comeback today , helping alongside the weaker yen. Taiwan just coming online. Singapore, a good opening. Pretty flat in malaysia on the open. The south korea underperforming. The Australian Market had a shaky start. We are seeing gains coming through in the early session. Asx 200 up. New zealand, down 1 10 of 1 . We will see Better Movement in the region today. Positive gains coming through in the u. S. Session on friday. Betting thatomists the likelihood of a jew rate hik
Shares at the Company Tanks as it scraps forecast pending and accounting pro. And accounting probe. Mark welcome to countdown. Also coming up today russian reunion. Angela merkel and Vladimir Putin meet for the First Time Since february to commemorate victims of world war ii. Tensions remain high over ukraine. The peoples bank of china opens the stimulus cap again cutting Interest Rates for the third time in six months. Challenging the countrys 7 growth target. Christine hah is on the story from beijing. Good morning christine. Whats is expected . Christine it was expected. A few economists had predicted the right path. Over the weekend, we also had Consumer Price growth most important, the shanghai market has tempered the rise over the last two weeks. A lot of space for the central bank to cut rates at this point. Cutting rates at this moment is more of a stabilizing a step a stabilization to the economy than a stimulus. Debt levels are ready so high in china. We have seen three rate
The labour party takes a beating. Those are pictures of David Cameron arriving back at 10 downing street earlier on. How are the markets reacting . Jonathan guy, you saw the fx moves. Sterling stronger. You see the move here on the bloomberg terminal. Theres the exit poll. The pound surging not just against the dollar, against the euro as well. Heading for the best day since 2009. Dont just call this a tory bounce. This is about certainty. I go straight to one week volatility. The pound against the dollar. You see the expected price swing coming forward. What you see there is the scottish referendum. We outdid that. We went much higher. Then you see the falloff. The certainty is giving sterling a left. In the equity market, much more about policy. You look at the ftse 100, pushing higher. The ftse 250 exposed to those domestic stories putting pushing much higher. The individual stocks tell the story. It is about the absence of labor policy. No rental cap, no mention tax. I look at the