German survey. You are watching street signs. Lets give you some headlines this morning shares rising as the dutch Agency Reports strong european performance with double digit sales both in the Second Quarter. After the bell shares sliding in the companys Second Quarter numbers missed expectations and outlines a new structure amid pressure, of course, from activist shareholders. And higher prices boost earnings more than 50 . The companys ceo tells cnbc that the sector is driving growth im not worried about the core volume growth were ahead of gdp we see growth in automotive, which everybody says has slowed down in the first half of about 7 or 8 zplool we have the Expectations Index. Its below the headline record levels you probably want to have a look at as well, and the Expectations Index has come in at 107. 3, and that is above the consensus of 106. 5 lets say for once were not obsessed by Monetary Policy or obsessed by mr. President trump. Lets say you are looking at corporate earn
1. 1783 the efo has been hitting record highs for the past three months. So maybe this pullback was to be expected the german august efo Expectations Index came nat 107. 9, with a forecast of 106. 8. T lets get reaction from Nicholas Brooks the German Economy seems to be firing on all cylinders. Are you worrying about a dip in the efo index . Not at all. Weve seen strong data coming out of germany and europe as a whole. So one data point these numbers are volatile its off maybe shortterm traders will look at this but in the medium term, it means nothing. Especially since the pmi data out of germany was strong. We saw that jump in the manufacturing pmi and across the board in europe we saw after a bit of leveling off last month, we saw a comeback. That makes a very clear picture, very good justification for the ecb to taper, doesnt it absolutely. Thats what they need. The ecb needs to taper for technical reasons as well as economic reasons technical because of the scarcity issues . That
Saudi bonds make a splash. Bloombergs mideast finance reporter looked at what is driving demand for the kingdoms debt. Reporter demand is still pretty high from local investors. Always seen in saudi arabia as a result of the spending cuts the government has done, demand in the private sector has dried up. Banks are looking for decent assets to buy. There is a lot of demand for these issues. Only look at when they were around 58 billion riels on the table, this time it was just over 30. We are seeing demand is perhaps not as high as it was last month. We are starting to see interbank rates come up. What they were doing a year ago was sucking all of the equivalency out of the system. There is very little left for the private sector. Anchor does this give us any clues about the governments demands when it to investors later this year . Reporter the saudis has said another international assurances on the card for this year. If we look at the performance of the budget so far, theyve done ve
A new excise on tobacco and soft drinks will start from october 1, the first in a series of reforms designed to make up for lost revenue from Lower Oil Prices. Saudi bonds make a splash. Bloombergs mideast finance reporter looked at what is driving demand for the kingdoms debt. Reporter demand is still pretty high from local investors. What we have seen in saudi arabia as a result of the spending cuts the government has done, demand in the private sector has dried up. Banks are looking for decent assets to buy. There is a lot of demand for these issues. If we compare it to last month around 58 there was billion rials on the table, this time it was just over 30. We are seeing demand is perhaps not as high as it was last month. We are starting to see interbank rates come up. What they were doing a year ago was sucking all of the liquidity out of the system. There is very little left for the private sector. Rishaad does this give us any clues about the governments demands when it to inves
The month of december. That was the highest reading since february of 2011. So a bit of weakness in the month of january. Looking at the sub components, the ifo Current Conditions index is at 116. 9, bang in line with the forecast. But the headline index below expectations. The Expectations Index is at 103. Once again below forecasts. Louisa, yesterday we saw a mixed performance when it came to the pmis. The Services Number for germany was below what analysts had been anticipating. Manufacturing was stronger. Overall the Fourth Quarter in germany has seen a strong end to the year what were seeing in january is a more mixed performance but a continuation of that overall strongish trend. Some say theres the seasonal factor at play, i think it will be interesting to see how this data holds up, especially after some of the projection indexes on optimism given the huge changes were seeing in the states on policy. Whether or not that filters through. Glancing at European Markets, were higher