Good morning, from berlin i am pretty impressed that allany, france, and u. K. Band together with such an explicit statement blaming iran for the attacks on saudi arabia. Absolutely, the geopolitics is something we will focus on in this hour. A really interesting story on the bloomberg today talking about how central bankers are getting more concerned about the impacts on growth or Climate Change, another theme with the yuan General Assembly getting underway. Speaking of growth, what a painful set of pmi did yesterday impacting markets. Absolutely, especially here in germany we have a rating of 41. 1 on the manufacturing pmi, the lowest level in at least one decade and we are going to get the Business Confidence numbers out in just a few hours from now, throughout from now. Definitely something to Pay Attention to appear lets take a look at what stocks are doing now. We do not have real red arrows across asia. In fact for the most part you can see the msci here is up. 1 for asian stock
Business confidence. The First Quarter was fine, but indicators for the Second Quarter are less strong. I do not see people cutting back existing plans, but they are not leaning forward in the way you might. Anna along for the ride, vw is nvest in ford, valuing it at 7 billion. Tropical storm barry heads for the louisiana, curbing oil out ports. Markets, welcome to the European Market open. 29 minutes into the start of it trading day. This is what the futures story looks like. Ftse futures, cap teachers pointing high cac futures looki. The session in asia is more mixed. The trade story and the impact on asian economies already. President trump tweeting about being disappointed in china and the lack of imports by the chinese. The dyer numbers out of singapore in terms of gdp. Town more than 3 . Much in focus, and the market focused on the inflation story and what the fed will do about Interest Rate. Yesterday the inflation number was higher than expected. A couple fed officials appeared
Were increasing our Sales Guidance in innovative medicines and santos and our bottom line guidance for the full year. Easyjet shares take off after backing the fullyear outlook and lands a new chief operating officer. And shares in asos sink after issuing their third profit warning in the last eight months all right. Very warm welcome to you all we are right in the middle of european earnings season things are beginning to ramp up. Annette and julianna will have the latest on s. A. P. And novartis first two stocks here in the uk. Asos is one weve been following closely. They have issued the third profit warning in eight months citing operational issues in europe and the u. S at one point asos you can see the stock is down 12. 7 , at one point they were down 20 another stock were looking at is easyjet First Half Results did meet expectations the budget airliner reiterated their fullyear guidance easyjet is up there at 3. 6 . One of the few green spots on the heat map today s. A. P. Says
What will the imf chief bring to the role . Treasury yields a slide to a low as bets on global using low. President trumps new nominee for the fed are likely to support rate cuts. Pimco says the rally in risk and haven assets has the scenarios priced to perfection. So how much longer can they coexist . Welcome to the program, this is the European Market open. 29 minutes ago until the start of the equity trading day. Lets check futures. In terms of u. S. Futures, they point to something a little weaker at the start of trading. Ftse futures seem to be pointing a little higher than the rest. Lets have a look at the gmm function to help us understand where we are in asia. Recommence weakness in asia and disappointing data in terms of the manufacturing sentiment numbers. Pmi coming through. The carney is talking aboutrecn widespread a slowdown in the Global Economy in the policy response that might be needed to tackle that. All of that is at the center of things for investors and calling fo
I am nejra cehic in london, great to have you on the show today. This bank is raising its benchmark rate, 25 basis points to 1. 25 . Talking about the lost last hawk standing, nor just norge s saying they will likely hike again in 2019. It is, by the looks of it, a hawkish hike. You can see the reaction in the norwegian krone jumping. We have also had news from the philippines centralbank, keeping its key rate at 4. 5 . Lets take a look at the markets. We are still dealing with the fallout from Jerome Powells press conference. The bond market seems to take what he said well. In europe, were seeing equities on the front foot. Playing catchup because these markets closed. U. S. Equities gained. 3 . It was the defensives and bond proxies that led the game. It was a muted reaction but futures point to future gains. The 10 year yield down to basis points. Of course, we did a drop below it, hitting a 2016 low. Curve steepening yesterday, flattening today. The dollar down for a third day. Wil