Anna a very warm welcome to bloomberg daybreak europe, our flagship morning show from london. Manus another day, another set of earnings. Anna, the Energy Producer in germany has a miss. Anna yes. First quarter adjusted net income fell by 18 , misting the average analyst estimates. They are reiterating their electricityrecast, generation revenue contributing to the drop, according to the company. That has been one of the questions, how will they be helped by wholesale electricity price recovering from decade lows . This is the biggest power producer in essen. It will be interesting to see whether they are sticking to their all your forecast. Previously they had forecast a 67 increase in profit for this year. They are recovering from a collapsed and electricity prices, but prompted the sale of the grid business last year. A lot of moving parts at rwe. The numbers themselves are a miss. The share price so far, up by 32 . Manus there has been a bit of a recovery in terms of next day price
Anna, chart me up. Where are you going . You a chart to show we have used obviously many times before. But offer a few words of caution about this, it is the Eu Referendum day here in the u. K. I know youll be back in the country later on today. We talked many times, checking the odds of the brexit, the average profitability probability. A lot of people asking about the market fixation, whether it is justify. We heard over recent days over how the number of bets in the past have been going on the leave aside, the amount and size have been for the remain side. These have been skewed by the sizes of the bets on the remaining side, maybe those with more money putting money on that site. A real voting situation, you do not put any money down. You display mark in a box. This will be a time when political betting is shown as something valuable to the conversation, or whether it will be found to be wanting. We will talk about the many ways you can try to get ahead of what is happening. We hav
Philadelphia. Welcome to daybreak asia. Lets go straight to the markets open now. Juliet, i think we are seeing asian follow wall street lower. That looks like what were seeing at very early trade. Been aough there has news. From the in ks it could be more than the market has been looking for, but we are seeing weakness coming through. Performerwas the best yesterday. Signs also pointing to the fact that nintendo is likely to have a tumble when it opens. We actually saw south koreas of 1 in the second quarter. T was a little bit of unexpected come up we are seeing weakness coming through after that fall on wall street. Australias market is opening down. In new zealand, looking flat. Better than it was about half an hour ago. It had some pretty impressive trade data coming out of new zealand today thanks to good exports. New zealands market yesterday hit an alltime high. Data for investors to get through in the region today. Weve also got the philippines reporting trade data in japan. J
Manus i am manus cranny. Anna anna edwards. Just past 6 00 here in london. Let us get straight to the correlation between oil. We talked about it many times, reaching new levels we have not seen since 2013. Manus just in the morning, 120day relationship between the stocks and wti. And this all comes on the back of russia, starting to get ready for potentially agreeing, as we take the road to go. This morning overall, you think about the real drivers in the fed, but is it oil price . with plenty of rhetoric from the russian side surrounding what can be achieved, even if we do not have the cooperation of the iranians, just to keep track of the price right now, that is something that drove the price higher yesterday. Cents, reporting an agreement between the russians and saudis, it could be done. And we have this other commentary from the kremlin press secretary, and the saudis building something. What exactly do we do not know yet. Manus depends on what we get. As far as the market, up 3
A warm welcome to countdown. Im anna edwards in london. Anus im manus cranny and by i suppose there is only one thing from rock my region to your chart. Anna lets talk about whats happening with the oil price. How this has rallied since february, wti oil rallying more than 70 from the almost 13year low reached in february, rallying now, really based around the canadian fires, the fires raging and although to alberta. There are other factors at play. We have seen a big shakeup at the top of the saudi Oil Administration. Is something that anyone involved in the Oil Industry Needs to be aware of as well. Manus it does indeed. That whole conviction trade about what happens with ali willimi, how much hardball they actually play at the next opec meeting . This is what we will touch on throughout the show, which is that change in power, that change in tone. Will there be a change in tone . Will they push you ran ira to get on boardn . Board . To get on anna you can see the couple of stories w