Francine welcome to the pulse. I am francine lacqua. Manus i am manus cranny. Next 40 course of the minutes, we are joined by unicredit chief, it is erik nilsson in the house. Francine first, china stocks posted the biggest two day climb. Manus it rallied on news the government is considering shipping two major companies. Francine after data shows a large drop in it worse last month with the steepest decline in nearly six years. Curranef economist enda joins us. What do the figures tell us about economy . Enda curran a very soft reading. Some of chinas biggest customers. Illustrate how soft chinas economy is when you strip away the impact of the big stockmarket boom we had in the second quarter. Left with a lot of sluggish areas like manufacturing and factories and real estate sector. Car sales falling for the first time in 17 years. To one ofn on exports the big engines of growth for china. Into the second half of the year, pretty sluggish outlook right now. Manus lets talk about the
Europe. The ecb is driving the euro lower. That means production could help rejuvenate european economies. Amazing amount of bonds being bought. European stocks up. European bonds are up as well. Borrowing cost coming down in spain on the 10year. They are coming down for germany as well. 0. 24 . In the first three days of bond buying, 10 billion euros of bonds were bought. Driving down the euro, driving down borrowing costs. Lets check out the euro. We did see it strengthening yesterday, but it is back down against the dollar. We did get a little bit of a waiver yesterday. We saw u. S. Retail sales coming in better than expected. Suddenly, people read gaging what the fed will say next week. Will they start to say, we could be easing sooner than expected . That is what everyone is focusing on. Yesterday everyone saw the dollar fall. Today, different story. Many feel that the u. S. Economy is Strong Enough to see rate hikes as soon as september. That is what more than 50 feel according t
Over 1 . Some individual news that is worth bringing to our viewers attention, these are three stocks we will be watching. Well holcim do the deal with lafarge . Is bruno the man that the market wants to see at the helm . Lafarge wants to do a deal and they want new management structure. That has implications for this company, crh up 0. 9 . 24. 70 is where we are. Hes got his eye closely fixed on that. Next this is where it gets a little spicy. Fullyear numbers. They have lowered their guidance for this year. They say you are going to see sales rise between 1. 5 and 5. 5 . Originally, they set a rise between 2. 5 and 7. 5 . They are in 70 countries at the moment. The market doesnt like the critical issue. We get some data from switzerland. Centralbank comments later on from mr. Jordan. Johnny is on his way to do that interview. We have seen exports drop over 2 . Theyve dropped their sales. Still doing very little to impact that particular stock. The question is actually lets have a loo
We have a very packed show. The iranian negotiations and the latest from the reporter who has been traveling with the secretary of state john kerry. And the launch of the u. K. Election. Guy johnson will join me later today. He is covering labour leader, ed miliband. His manifesto and we will bring his first interview of the day following the that at 12 30 p. M. U. K. Time. A grease negotiating with creditors and degrees negotiable with creditors. The Prime Minister tsipras will talk about the reforms later today. In athens, we are joined by hans nichols. Hands, lets kick off with you. What kind of a reforms are needed that will satisfy . Hans specific reforms is what we hear out of brussels and berlin. What we had submitted on the weekend, yes, they talk about another 3 billion in revenue. Several like on and they are relying on optimistic growth projections. For this year, it allows them to get to 1. 5 target. 2. 5 of the has to do with property tax which mr. Tsipras railed against.