Great job done by mark barton today. That is on this index, the dax. You are looking at the best quarter since 2003, and equity index that has added 200 billion euros in value. You are looking at 25 out of 30 components of the dax over 10 . It really is a great synopsis of what has gone on in the dax this year. Bank of america merrill, 63 of Fund Managers favor the european market. That is very much evident in terms of what is going on. Dealmaking, banking, getting the deals done bartering as to who will run the company between the lafarge and holcim deal. Buying 6 billion euros worth of assets. It will make crh the number one player in cement in the united kingdom. What has albert got to do with u. K. Holdings . Holcim and lafarge, will they get the savings . 77. 25, 77. 30 for wholesome. Credit suisse, another day another scandal. What youve got there is, monte dei paschi is suing Credit Suisse for alleged unauthorized financial activity. I should say that banko leonardo is also incl
This is what we are talking about for the next hour. Lets get straight to our top company stories. Holcim and lafarge have approved a merger that will create the worlds biggest cement maker. The new company will be led by the lafarge ceo. He tells us more about this major markets event. Manus cranny, you have been speaking to some insiders. What is their take . Their take is that lafarge is born down with debt. Holcim has some huge capital expenditure. They need to get together and get more efficient. They need to move together to actually improve the situation. My understanding is there are a couple of billionaires on the Stock Holdings of both companies. Both stocks reacting nicely today. In terms of market reaction, you have the egyptian billionaire on the lafarge a roster of holdings. Thomas schmidt hiding on holcims roster, they are the people. It is about improving the debt load for lafarge and the capital expenditure, the ability of holcim to commit on that. It is a game changer
I am mark barton. I am anna edwards. A warm welcome to the program this monday morning. Bloomberg reporters are standing by across the world. Manus cranny is here with details of this unfolding murder story surrounding the Worlds Largest cement makers. Carolyn is in paris following the altus deal. India sees a 4 billion deal in its direct drug sector. We will get the story from john dawson in hong kong. David tweed is focused on the future of industry. Tell you what is coming up this morning. A special Asset Allocation edition of on the move. Alex friedman and philip hilderbrand will join Francine Lacqua for an exclusive conversation on the market. Andhe big one, Holcim Lafarge have anonymously approved a merger that will create the worlds biggest cement maker. The new company will be led by the lafarge chief executive. Here to tell us every detail, i hope, manus cranny. Lets do it the bloomberg way. It is indeed a merger. Seven for seven. Seven members of holcim, Seven Members of lafa