Anna welcome to bloomberg daybreak. I am anna edwards. Manus some breaking news from banks to oil. Kicking off with bmp. Anna reporting numbers. They have missed fourthquarter net profit. It came in at 1. 4 4 billion euros. The estimate was 1. 6 3 billion euros. It was a resilient business. The q4 trading revenue rising. But the pretax profit is down by 36 . They are booking a few items as well. Booking goodwill at their polish unit. Restructuring costs in their belgium belgian and australian units. They are trying to get to or targeting levels. They are also talking about caustic calving and investment in technology. Laying out the they are also anding about cost cutting investment in technology. Missing estimates in the Fourth Quarter. Manus this is one of the big nordic Oil Companies out there. Net loss in the Fourth Quarter. 40 million. Taking on an impairment charge. Fourthquarter net loss for statoil. Capital expenditure. Ceo wants to bring it down. For exploration, spending abou
Programs with coxe cuts. Slashing costson be enough to keep investors on board . Matt less than one half or now or wait till the open. European stocks futures pointing down after a down finish yesterday for both the u. S. And europe. The narrative here is that investors are concerned about political uncertainty, political terminal. As a result, fleeing for the safety of safe even assets. Are you seeing that on your gmm screen . Is lets see what happening. Mario draghi saying the euro is irreversible. Certain people in france may disagree with that. The markets on the equity front got smacked around yesterday. Italy down 2. 21 percent. The euro is weak for this morning, down by 6 10 of 1 . Trading at 106. 84. On the markets getting into gear now. Bond markets getting into gear. France tighten their tightened. Italy and greece both whiter. Wider. The focus on the periphery. It blair yesterday. That story looks like it may have traction. Thatep talking about throughout the program. Lets g
Biggest amount in seven years. Largely because of President Trumps pro business agenda. We have the full details on how it could impact your business coming up. Meeting with saudi Arabias Deputy Crown prince. This is on the heels of opecs new report showing conflicting data on saudis Oil Production. Saudi arabia directly reported to opec it increased Oil Production in feb to 10 Million Barrels a day. This conflicts with the secondary sources that saudi Oil Production decreased. Lets bring in brenda shav schaeffer from georgetown, university. An issue thats hurt oil prices before we go on to saudi and opecs impact and that, of course, is u. S. Inventory levels. Is that a genuine fear for oil prices . I think we have to look at the short term and the long term. The short term, obviously were seeing this is having a huge impact on the oil price, a very big dip down to november 2016 levels. So its the saudi data, the confusion about the saudi data and also the u. S. Inventories. If we look
American express reports earnings after the bell, but critics say perks are not what they used to be and it is weighing on the dao component. We have a debate on it. How much the credit card craze is happening amongst millennials. Intense, yes. Thats ahead. We begin with ibms fall after reporting its 20th consecutive quarter of year on year revenue decline. The company cfo discussed that when we spoke to him after those results. That 20 quarter headline is probably not the framing that were thinking about. Were thinking about how do we continue to move the business and our clients to get to growth. Now, the portfolio, the portfolio will grow. I am confident that the ibm company will grow again, but it is taking you know, were taking time. Our baub pisani over by the trading post with more. It is weighing on the market today, bob . Great. Good to see you. Theres a new risk to the market and thats earnings risk. We havent had it before. Let me show you ibm. They normally do four million
Percent here in europe as stocks start to open up for trade. Lets delve into the sectors. We saw on wall street the hand over has been where the markets closed a little bit weaker on the dow over what weve had. But in term of the sectors its about rotation. Thats whats been happening in the underlying trade on trade. Not buying index but rotating on sectors which is why this picture is so important. Oil and gas right at the top. Health care at the bottom. But all stocks are moving higher this morning. Health care, the sector a tenth of a percent north. Travel and leisure getting a bit of a bump up. There are some decent percentage increases this morning but banks. 4, most stocks in the basket trading. Retail. 4 higher. Pandora the pop of the basket on the back of its numbers. Stocks are racing ahead. Three top performers, media stocks, bp and gas is. 9 higher. China macro data has been positive for the overall sector. 9 on its trade. Lets look at individual indices. 20 points off the 7