Will shortly go on to what is happening at the ecb and what is happening with mario draghi. 0. 3 . An stocks down to a lot of the impetus will be on Central Banks. A lot of the focus will be on bonds. Leading the stoxx 600 lower, looking at oil. Adding to uncertainty over whether production cuts will actually be extended. Lets focus on the future of the euro area. Five years since mario draghi establishes answer to the jackson hole symposium. You that live as it starts. Investors will be watching closely for any hints on how mario draghi might use the toolkit. He will be keen to convince traders can get back to her target of 2 . A target of 2 . Paul, what is the market expecting from them . High in somens are respect. What is priced in, the ecb will move to action. The kind of feeling in the market is that he has got to. Ive a nod thelast ecb meeting market is looking for more. Asically the front end of the market has ced ecb action, a rate cut inflation is collapsing out of control. T
Is to forget their local election success. Leave no door unlocked. Ahead of next Months National vote. Good morning. This is bloomberg surveillance. I am guy johnson alongside tom keene in paris. Mark barton is in london. Quite a night. Quite a night. I was at the champselysees having a beverage of my choice. It was a champagne. It was fabulous and the excitement, it was not packed streets but there is busy streets with the usual celebration that you would expect in paris. It went well over 90 for mr. Macron. Guy it is going to be a fascinating story. It does not run out of momentum because people are already talking about kind of how he turns this victory and consolidated into the National Assembly. The challenge is by no means done. Timothy we will have much of that coverage tom we will have much of that coverage. He has to go to june 11 and the beginning of the monetary and elections to see if a macronled government, or if it is a coalition. Guy well see what the next five years wil
And im anna edwards in london. Lets start the program with data out of the eurozone, specifically out of italy. We had gdp data hitting the bloomberg. Exactly inline with estimates, 0. 4 , the Second Quarter pulmonary reading. That is what the analysts were looking for. Data on abetter number of fronts from italy. Industrial output expands in the Second Quarter. The jobless rate, still too high of course, but coming down. Better news on exports and bank rescues taking place in italy. Those are some of the headlines in the Second Quarter. In line with that, we see this better growth picture, in line with estimates and the previous quarter. Lets look at where we are on various assets. 1. 1720. Urodollar, heading into this we were at 1. 1755. A little bit of sluggishness on the euro. The stoxx 600, up by 0. 7 . Gold and yen, continuing to s lip. Bullishness in stock markets in europe today. Pound, 0. 91. O we are going to get the u. K. Wage data and eurozone growth figures. We got the s p
On todays show, were speaking and peterhaffer dixon, Global Equities economist at commerzbank. If you have questions for either of them, go to the bloomberg. Run the tv function and hit the id show producers function. You can stay in touch with us throughout the show. Weve just got some breaking news to bring you. Eurozone manufacturing pmi, it hs bang in line wit estimates. This after we got a little bit of a softening in the inflation data last week. This number coming in strong. Lets get to the markets, see how they are performing. It was a Strong Quarter for global stocks. Equitieseing european starting a quarter on the front foot. The stoxx 600 up 0. 2 . Euro rebounding after four days of losses. Little bit of sterling weakness coming through. That is off by 0. 1 . Wti holding above 50 a barrel. 50. 56. Lets get the bloomberg first word news. Heres Sebastian Salek. Sebastian donald trump says america can address north Koreas Nuclear threat unilaterally. Summitments, ahead of a bet
Day. This is about Central Banks. We are learning about china and were talking about the pound. Tom it is an interesting economic day. Great series of smart guests to give us depth. I would notice are the headlines just out of microsoft. You have the hewlettpackard headlines yesterday of the split up of the split up if you will on hp q and now you have microsoft out with a 1 severance or layoff or job cuts. I like job cuts on the bloomberg banner. 1850 out the door. Shows the door of the real economy around the economic data. Let me guess, we will also talk about brexit . Francine surprise. [laughter] francine it is a month away. We may talk about it for the next three years. The imf has backed off and greece will get its next round of Financial Aid. It will allow the relief of more than 11 billion and they will take steps to ease the burden of the countries 58 billion in debt. They stood down after originally insisting that the program did not offer a path to fiscal sustainability. Th