akzo?does that leave akzo saying they are selling their specialty business to the carlyle group.they have been on for the last year, trying to dispose of this business. this came about after they had a look at a takeover bid that they rejected. that put pressure on them to review their portfolio. paint andping our coatings business and the chemical business, a couple of private equity firms swirling around. we are looking at this asset and it went to carlyle group. where do they put the money back, there are these shareholders who are interested in hearing, the money that you have heard -- aren't here, can you put that to better use or selling the company entirely and that is the pressure on the ceo to prove that this money he can may --good news -- use, maybe strengthened the coatings business. that will be disturb you did to shareholders, net proceeds 5.7 billion euros. let's get to juliette saly standing by with a bullish bid. , do the -- i might do the business flash. swings made it harder to sell a buildup of unsold garments. operating profit fell in the three-month surfer v

as far as percentage change, the biggest movers we see across europe, akzo, down -- axa, down 5.8%.of the big losers in terms of percentage change and in terms of index points as well. fiat chrysler, down 2.6%. i will talk to the ceo, sergio marchionne, tomorrow, at the geneva auto show. all carmakers will take it today. you'll see bmw, mercedes, daimler, and volkswagen down as well. i want to talk about the oil makers. companies werel welded today. you can see some volatility in oil today. the underlying commodity and the producers. the iea has come out and says it sees u.s. dominance squeezing , fromn the coming years now into 2020. 80%u.s. is going to satisfy of global demand growth from now to 2020 as the shale boom keeps opec under pressure. we are getting a lot of headlines out in the international agencies. ymexcan see my max -- n crude up. withwill have to come back the response of its own. .uy guy: let's introduce our guests. good morning to you, rupert. italian market down 2%. german markets down by around .5%. two different forces. the trump tweets when it comes to german

when it ran the numbers and find what's going on with akzo.he numbers coming through this morning, let's get to those. above theadjusted estimate of 15.6. their listing their medium-term return on equity target to 15% to 18-20%. so set of positive news lines coming through from standard bank. we'll keep an eye on that when it opens up in the johannesburg session. let's talk about what's going on overnight. the sentiment in markets has changed. we saw the s&p staging decent rally and recoup some of the losses it made in the early part of the session concerns around gary cohn leaving and who that leaves in charge of the white house. we saw some gains being made. the has been picked up in asian session, a by .7%. it raises some interesting questions, talking about terrorists being imposed -- talking about terrorists -- tariffs being imposed. for the moment we see synchronicity. we put in the euro against the dollar, pretty flat. his is one of mario draghi's headaches? the tighter conditions rating across the atlantic and a looming trade war. most

akzo declined a takeover offer. it istock is rallying. one of the best performers on the stoxx 600.line gaining, up by 2.6%. the ceo sees this strengthening their consumer business. they are seeing the strength -- seeing the stock strengthen today. you're talking about h&m. that stock has hit a 2008 low in today's session. it had its lowest first quarter profit in 16 years. not only that, but it will increase its markdowns in the second quarter. despite discounting, inventory is rising. matt: thank you very much for that look at stocks. the you should be watching, bank of england publishes the record of financial policy committee meeting, the minutes. the spanish cabinet is set to approve its 2018 budget bill the for submitting it for consideration by lawmakers. president appears in an economic policy conference. a lot of fed speakers. french,th us is simon chief economist, panmure gordon. we were talking about normalization, taking away the punch bowl. it is time, no doubt. that has not hurt the equity rally. is he spot on with the ecb's decision-makers. simon: he is out on a limb.

glaxo dropped out of the bidding for fooiz zerpfizer's bidding akzo is selling chemicals to carlyle. takeover from rival gic. >>> get you caught up on the earnings reports mccormick adjusted a quarterly profit of $1 per share 10 cents above estimates spice company raised its four year forecast and benefits on new tax law. then there's ihs market beating on the top and bottom line the financial analytics company said it was helped by improving end of market fundamentals factset beat the streets and added $300 million to the share repurchase program in the meantime washington lawmakers aren't the only ones who want answers from facebook want to go over to wilfred frost at cnbc's hq. >> mark zuckerberg will not appear in front of parliament in the u.k. after he declined the invitation from the chair of the digital cultural media and sports committee damian collins. he will send chief technology officer mike schrockfer. collins has not backed down saying, quote, given the seriousness, we still believe zuckerberg is the right person to give the evidence the e.u. justice commissioner has g