manus: joining us now from the front of the spanish congress is annmarie hordern. great to see you. nchez comes out on top. now his got to lean into the catalan separatists. he's within smelling distance of forming a substantial government. annmarie: yes, that's right, and that is likely what we're going to be seeing in the next few days and coming of him trying to form this government. he's known as the great survivor in spain over the course of his political career. really, his two options to form a government, one would be clear-cut. many investors say this would be a stable government. as you say, he does a deal with pay most, but they don't have enough numbers. they're going to have to reach of the catalonian's to form a government. this would be a government he leads, but he has to profit up with other parties. the other things, we have european elections at the end of may. maybe we see negotiations behind closed doors. they're worried that could potentially alienate potential voters and supporters for the european union elections at the end of may. manus: in terms of the ere i

annmarie hordern goes head-to-head with any burger. -- with dani burger. talking about the softness in oil prices monday morning after oil came off the longest winning streak in three years. but there's still not many people willing to short crude. we got some data, short-sellers punched 18% and of uti in blue plunged 70%. the bullous wagers on oil are at a six-month high. a lot of appetite potentially in this rally. matt: left cushion, obviously. dani, what have you got? dani: traders might not want to be shorting oil but they are shorting the vix, closing friday at its lowest since october. it dropped to the most bearish since october over here and that is actually a record level of short positions we saw back then. we're certainly building up to that extreme level. matt: yeah, that seems equally dangerous. i love both of these charts. it's a great way to look at price action and figure out what could happen in the future in case of a catastrophe. i'm going to have to give it to you, dani, because it's a bigger picture problem if they are all wagering sho

let's get your individual stock stories with annmarie hordern.n a earlier in the trading session. they are buying a majority stake in a finished mobilephone dna for 1.5 billion euros. , u.s. under pressure president donald trump is proposing treader -- tariffs on $11 billion worth of imports from the eu due to subsidies would airbus. motorcycles, cheese, ski suits. technogym down nearly 4.5%. holdings selling off 14 million shares of the company. matt: anne-marie, thank you. annmarie hordern with the stocks on the move this morning, all to the downside. let's get back to bonds and blackrock is taking a cautious stance on u.s. treasuries on the belief investors have become too confident the fed will cut interest rates. the global chief investment strategist says they are cautious after the recent rally and they expect the fed's next move to be a hike. today, we ask the question on mliv and on bloomberg television, which sovereign bond market's most vulnerable to a reversal? join the debate and reach out to us and the mliv team if you think you hav

for that, we go to annmarie hordern. annmarie: thanks.f auto news, fee across their -- fiat chrysler to the outset. they are pulling the fleet with tesla. bmw to the downside on friday. they announced they are taking a one billion euro provision. this is related to the eu investigation of the carmakers allegedly colluding to cleaner commission vehicles. that stock under pressure this morning. also down is safran, supplier of boeing. boeing says they will cut production of the 737 jetliners, 19%. all these suppliers to boeing are under pressure. anna: thank you very much, some of the movers this morning. let's talk about oil. a lot happened, oil extending gains after its best week in two months after fighting in libya escalates concerns. the saudi aramco bond sale, saudi energy minister commented on the deal while speaking to bloomberg daybreak anchor manus cranny in riad. >> it's still dynamic. i think the books have not been closed but it is upward of those number -- those numbers. anna: he also said saudi arabia was unlikely to need to

let's get our individual stocks stories with annmarie hordern. annmarie: good morning.her reporting earnings that have beat analyst estimates. upside without the earnings, they also confirmed their outlook for the whole year. plunging ateally the report from manager magazine, sega profit warnings -- saying profit warnings have eroded confidence of rival bidders. that is definitely putting pressure on the stock. matt: thank you very much. german authorities have reportedly dismissed president trump's threat to cut off intelligence cooperation. letter, the ambassador to berlin said that intelligence sharing would be curtailed if huawei components were used. the intelligence community sees these warnings as political grandstanding, saying trump is bluffing. the u.s. view is that while facilitatesuawei spine, the u.s. is threatening other countries. joining us is bloomberg's german government reporter who wrote the story. hereally, spy network thinks that they are intelligence sharing relationship to important to be stopped over the use of a chinese supplier. >> the threat

thanks, annmarie hordern.orget, terminal users can interact with the charts we use here on bloomberg. many find it is a great library to go to to revisit some of the charts we are using we will bring you more charts next. this is bloomberg. ♪ anna: welcome back to the european market open, equity markets to the downside today. an underperformer down by .6%. matt is going head-to-head with alex lovely in the battle of the chart. i've in a bid to win, taken my inspiration from a chart that you sent around to the group last night. you are looking at s&p 500 earnings revisions, amazed at how much they had come up in recent weeks. i, too, was blown away. these blue and white lines are the estimates for 2019. put those up against the stoxx 600 estimates for 2019 in yellow and 2020 and purple and normalized the chart starting at the beginning of the year. europeanexpected earnings to rise even further. i think it is interesting, and i hope you will pick me. anna: [laughter] alex, what have you got? >> i did not get a

annmarie hordern has the latest on the story. ou know, it is going to be a key weekend for both of these banks. ,his is when commerzbank could as early as this weekend, decide whether they want to continue discussing deepening talks. for the first time, we have obtained this memo from he commerzbank ceo and we got insight into where his thinking is. he said we will take further steps to increase growth and profitability, the question is whether it makes strategic and economic sense. , when speaking to employees who have lambasted the idea of the deal, said that what you should take away is the alternative of doing nothing is not an option. for me, it foreshadows the fact that changes will be coming to commerzbank. making clear the bank needs to do something. know, thisna, as you has been an uphill battle for commerzbank. employers are not on board -- employees are not on board, jobs could be lost, and politicians and the public have spoken out saying they do not agree with the acquisition. anna: we will keep an eye on this over th

let's get your individual stocks on the move with annmarie hordern. ll take this one but start with one annmarie was talking about, lvmh trading at a record high. sales beat estimates despite concerns of a slowdown in china. man group off of some highs. trading at a price its highest this year. management fund is increased despite out draws from clients which might be why we see gains come out now falling into losses despite growth. ted baker today announced they appointed a new ceo, lucy page. that was there acting ceo. they have ended the independent law firm investigation. the room accusations of unwanted contact from the former ceo so investors, perhaps excited or expecting the worst is over for ted baker. matt: thanks very much, dani burger. looking at some of the stocks on the move. deutsche bank and commerzbank are at odds when it comes to updating shareholders on progress of the merger talk. bloomberg has reported commerzbank once a decision as soon as possible made public but deutsche bank wants time to assess the deal and will likely wait unt

annmarie hordern has her individual stocks tories. -- stock stories. >> ams is up nearly 20%.e forecast beat estimates in a big way. dsp to the upside, a danish company. logistics and transportation. they reported an opera riding -- operating profit that beat estimates. to the downside, serious minerals,- sirius down 17%. they are building a mine in northern issue. this is a rights issue. the company is selling new shares. china's factory growth slowed this month and we have seen the effects on today's european equity markets. manufacturing pmi came in at 50.1, below the estimate of 60.5. that ups the stakes for chinese and u.s. negotiators as trade talks resume in beijing today. joining us is the chief asia economist at pantheon macro economics. thanks for joining us. let me ask you about the trade conversation at the moment. in the short-term, signs seem to be good but i notice you talk about long-term problems resurfacing. explain that to us. why the mixed message on trade? >> absolutely. our position since the g20 meeting, since november last year, has been there is enough

thank you, niraj and annmarie hordern in london. get bloomberg first word news with annabelle droulers in hong kong. annabelle? annabelle: thanks, nejra. they worked to a way to end months of deadlock over brexit. some senior conservatives called on the prime minister to take britain out of the eu without delay and then resign. chancellor philip hammond reiterates the prime minister doesn't plan to stand aside until she's delivered brexit. >> as far as i know, she doesn't have any intention of leaving until that deal is done. she's a person with a strong sense of duty. she feels she's got an obligation to the british people to deliver brexit, and she will certainly want to make good on that obligation. annabelle: president donald trump enjoys a narrow advantage heading into the 2020 election. that's according to a report by goldman sachs. the incoming president carries a 6% percentage point edge. the forecast leans in favor of the president. and the european union has reportedly taken a closer look at google's operations in ireland.

that is bloomberg's annmarie hordern in our london studio. let's check it on first word news.rnedoomberg president trump is preparing a novel campaign strategy. he will be touting his environmental credentials. putting together talking points on what they see as environmental success stories , including cleaner air and reduction in greenhouse gas emissions. the u.s. pulled -- the president pulled the u.s. out of the climate accord and suggested wind turbines cause cancer. president trump has not been able to fulfill his campaign promise to end illegal immigration which has caused them to oust his homeland security secretary. here's to has resigned at the president's request. nielsen has resigned at the president repressed -- at the president's request. the turkish president has urged the country's election board to look into alleged vote stealing in the election. the opposition party says they won. global news 24 hours a day, on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in over 120 countries. i am courtney donohoe. this is bloomberg. vonnie

the index,icture of let's get the individual stocks or is with annmarie hordern. nmarie: i'm starting out with an index, italy. they have entered a bull market. close, it'll end in a bull market of 20% since its two-year low on december 27. banco santander also higher, investing more than 20 billion euros in digital attack, also targeting. cost savings of $1.2 billion. francine lacqua will be speaking to their chairman to. and cm -- today. cmc markets is plunging, down over 8%. the spendingaving is down, so that stock is definitely under some pressure this morning. anna: thank you so much. back to brexit, theresa may is turning to labor in a last-ditch attempt to find an acceptable the -- deal. >> i'm taking action to break the logjam. i'm offering to sit down with a leader of the opposition to agree a plan we would both stick to to ensure we both leave the european union and do so with a deal. anna: corbyn welcomed the move, saying he would be quote very happy to meet her. this may open the way to a much softer form of brexit. joining us now is bloomberg's u.k. go

let's go back to paris and annmarie hordern. we'll play a little bit of what president macron said last night. >> we will rebuild. we will rebuild notre dame because this is what the french expect. this is what our history deserves. it is our profound destiny. david: as we have said, this is a great tragedy for the french people, for all of western civilization. at the same time it comes against a tricky backdrop with the yellow vests and challenges resident macron had already -- president macron have already. idea how this will affect his stature as president of france? annemarie: many are hoping for this to be a chance for him to unite a divided country. what you heard emmanuel macron talk about there was much different than what he was set to say before the fire. he was set to give a speech regarding the yellow vests protests taking place since the end of last year every saturday in paris. it started about rising fuel national then became a debate about income inequality and economic disparity in the country. you do have a ra

ceo that was l'oreal's speaking to annmarie hordern in paris earlier on.time for the latest bloomberg business flash. let's look at some of the biggest business stories in the news right now. ford is predicting a profit boom by converting a car factory into one that produces trucks and suvs. it says it will earn $1 billion more from the plant. the plant just started producing ranger trucks and will start building bronco suvs next year. it had been building compact cars and hybrids. the billionaire founder of the appley that assembles asices will run for office president of taiwan. .t is the foxconn ceo that is your latest bloomberg business flash. guy: up next, we will try to get a look at what is happening with these markets. equities have had a solid run so far this year, but a lot of analysts are behind their benchmarks. what does that mean in terms of the story we will see developing inequities, and which way is the u.s. ten-year is going to go? we will try to get a view on that next. this is bloomberg. ♪ ♪ guy: live from london, i'm guy johnson. vonni

annmarie hordern will join us.bloomberg. ♪ ♪ this is bloomberg "surveillance." venture juliong has bought out at&t stake -- hulu has bought out at&t's stake. pairaves hulu with just a of owners, disney and comcast, disney gaining majority control when it acquired fox's entertainment assets. bob iger may be interested in acquiring the rest. a takeover offer in the insulation business in europe. -- 790 million. shares of both countries -- companies are rising. has reassuredr investors about the riskiest type of bank debt. they are agreeing to buy back 1.5 billion of its perpetual contingent convertible notes, known as cocos. the expectation was that they would be brought back by the issuer at the first opportunity. santander keeping investors guessing for weeks. that is the bloomberg business flash. tom: we are awaiting bank of america earnings, always nuanced. it will be interesting to see where they are in continuum from j.p. morgan and the perceived performance of wells fargo as well. matthew luzzetti of deutsche

annmarie hordern will go head-to-head with dani burger. it is a tough one to beat.ot for the competition? i am looking at oil, wti are thehere most optimistic. yesterday we heard from opec, for a fourth month curbing supplies led by saudi arabia. also a deepening economic crisis in venezuela. wednesday we will get u.s. stockpiles, and we are seeing -- trump is asking for opec to keep a lid on the prices, -- opec is maintaining their commitment to maintain output. all right. dani, what have you got? dani: the three-month 10 year yield curve is no longer inverted, maybe we will not hear anybody talk about the yield curve anymore. function, i searched stories that mentioned yield curve. in the past week, this was the most mentions of yield curve since 2005. in terms, there is a coming recession -- i also put that on the bar. the last time that happened it took two years before the u.s. fell into a recession. maybe this chatter is just that, just talk. it is not a great indicator if we are going to be in a recession. matt: i have to give that to you, dani. i love those

we are going to get more from annmarie hordern throughout the day.ight now we want to go back to olivia for the bloomberg business flash. to cut staff plans at tokyo headquarters by half. japan's biggest bank has concluded many of the functions can be automated. the report says some will be handled by software and artificial intelligence. many staff will be relocated to the u.s.. warren buffett's real estate brokerage expanding to the middle east. time when thea emirates property market is extending its slump. to says it expects prices fall as much as 10% this year. the government of japan have rejected rental's appeals for merger talks. this follows an already tense relationship after the arrest of carlos ghosn. that is your bloomberg business flash. to watch up next. minutes away from the market open. next, we will bring you those stocks we are keen to focus on, including bayer. the board is standing by its ceo after investors voted to remove him. this is bloomberg. ♪ matt: we are eight minutes away from the start of stock trading across europe. is

annmarie hordern has the latest on the story. annmarie hordern, thank you so much.little technical difficulty there, but debra mao is standing by with a business flash in hong kong. will retainbezos 75% of his amazon stock following his divorce from mckinsey bezos. this eliminates investor concerns that it would influence his control over the company. he will continue to be the largest shareholder of the e-commerce giant. 4% ofzie bezos retains amazon, making her the world's fourth richest woman. the exchange commission have two weeks to work out differences over how the billionaire made posts on social media. they want him found in contempt of court. a u.s. district judge says the sides should read -- reword the deal to remove ambiguity on what he isn't allowed to post. samsung has reported its first operating profit drop in more than four years. the stock has been dashed stock has been buffeted by slowing smart phone sales. dropped in thee quarter. samsung issued a warning last month that the results would be short of estimates. that is your bloomberg business fla

annmarie hordern is back to london and we are seeing some mild weakness across the markets.is a question about the china story. is it just that investors are taking risk off the table as you go into the weekend, or is it something to do with a bit of a whiff from alcoa cutting demand? annmarie: that is a good question. we are seeing letter volume ahead of easter weekend. you can see across the board, equity industries in asia are lower with the kospi and the nikkei during the brunt of those losses. the hang seng and cmi are also touch lower. we are seeing a bit of a haven play with the japanese yen higher. there is still a dispute as a result of the local election and that is lingering in indonesia. looking at alcoa and commodities, steel, zinc, nickel , platinum, they are down. lower.f metals aluminum is higher, the second worst-performing base metal of the year. alcoa cut their demand on aluminum after the reported earnings last night. i am looking at the chart because the ceo had mentioned the automobile sector. you can see chinese automobile passenger sales are edging lo

annmarie hordern. john roe is my guest host.he head of multi-asset funds at legal and general. when you look at what anne-marie has outlined, big oil is incredibly important to the momentum and sentiment of the major indices. when you look at the movement in the oil market, where do you go? the inflation story, the dividend, or big oil? which of the trifecta interests you the most in that story? john: it would be the inflation story. the risk and sentiment if you got the spike. power starting point is a preference for being long energy and that is the spillover macro effect it can have on the broader portfolios. that is what we worry about because it can act as a headwind for growth. waivers are something we expected and the reason for that, trump had a choice to have an ally in saudi arabia producing that last million barrels or iran producing it. kate made a lot of sense he would and that when he could as soon as he saw the price wasn't going to high. spear from therm saudi arabians they will fill that gap. in the medium-term,

francine: annmarie hordern there in madrid. italian bond yields are falling after s&p confirmed the rating was negative on friday. expected to give a more picture of the region's economy. what does this mean for the euro? joining us is hans-guenter redeker. when you look at spain, does that -- flavor of the european elections? or very domestic politics at play? hans-guenter: we are still to wait until the european election outcome. you are right that there is the heat is coming in out of this. people we are assuming that populism will be on the rise at what we have seen the case of spain, populism can be contained if there is a high turnout in the election. the second answer, we have to deal with, is with the auto tariffs. we haven't dealt with that. see comingl have to out of may and if there's -- if the auto tariffs have been implemented. if that what happened, you would have a euro rebound. there's another observation. relationships and markets are changing. the relationship we are referring to is the rise of the euro and th

us from our bloomberg quint partner in mumbai is niraj london, we arein joined by our guest, annmarie hordernury yields moving higher, but the indian stock market hit a record high. what has driven the rally given the oil is higher as well? niraj: you summed up everything i wanted to say, hearing you at the start of the segment, talk about how the risk-on seems to be out there and markets are looking for an excuse to move up. excuse witheed an the way the money is coming in from across the region. benchmark the third index to hit a fresh high today some of the main one, arguably. now the nifty 52 also hitting record highs. it shows that way that the macros are working as well. the currency is threatening, bond yields have dropped ahead of the meeting yesterday as well, and frankly, was of the cross-border skirmishes, indian markets have not looked down. i just leave you with one thought, i wrote a column yesterday about how the market are, they seem to be high, and morgan stanley mentioned that because -- you look look at the ee, you at valuation. and on those funds, there is more headroom an

in london it is annmarie hordern. good morning. let's get into these indian markets.ued, certainly compared to bitcoin. what's driving the weakness? >> i hope the indian markets do not have a rally like bitcoin. in today's session, very subdued for the indian market and in line with what the asian markets are doing as well. quiet, even the banking stocks very quiet. i would reckon that the data from the indian side is not looking the prettiest as well. everybody monitors what happens to the gdp numbers and the central bank policy. today the nifty auto index is one index that i would leave you with. at three-year lows. just in the last six months it has been slightly unfavorable and this month data has not been very rosy. looks like it is under pressure. but to you -- back to you. nejra: snp markets taking a bit of a pause after a strong rally yesterday. what are you focusing on? >> msci asia-pacific index relatively flat. we see other asian markets maintain some of that momentum. you can see singapore is higher, thailand. some of these other markets are trying to main

annmarie hordern joins us for more on that story.ield -- hunt for yield or a play on oil? >> so oversubscribed. what is this about? one case is that it is a hunt for yield and the fact that demand was so robust, aramco was able to price the yield lower than the sovereigns. the bonds that got the most demand were longer bonds, higher maturing bonds, and that is a play on crude in the year 2050. it was clearly successful. the kingdom was really shocked by global wall street -- shunned by global wall street. this is welcome following the killing of jamal khashoggi. this was a blockbuster for the kingdom. nejra: what will they do with the money raised? >> they say they are doing this to help them fund the acquisition of a local petrochemical company. this is really moving funds from three different government entities, the sovereign wealth fund, aramco. visioned money to fund 2030. they are also testing the waters, seeing what appetite is like. nejra: great to have you with us. thank you so much. the imf has cut its outlook for global gr

and here in london is annmarie hordern. i said your surname wrong, so apologies.n stocks have swung between gains and losses today. what does the setup look like? >> good morning. it's all good. the markets, they are not cracking, but they are not expected to be. off the highs of the day. we started up a percent. we have been trading absolutely flat. benchmark indexes are trading absolutely flat. the election season gets underway in a couple of days. traders will want to keep positions like. currencies depreciated a little bit today. the crude oil prices we spoke about last week as well. the only thing in focus from our domestic market perspective, a large merger has been announced by a small bank. focus on, our elections coming up a couple days from now. and crude prices have tempered the mood on equities. nejra: you have let us perfectly into anne-marie's hit. you are looking at oil extending its rally. >> it's going to be a lot of price pressure to the upside this week as you see these escalations in libya continue intensify.o really let's look at how wti did.

annmarie hordern has more. : 4.5 in dollars to marketing unions -- units.s is a play on digital as well as expansion. norsk hydro also hiring, this is their brazilian unit, petitioning the court to lift the embargo on aluminum. norsk hydro outperformed the sector by 3% or 4%. nokia is down today. nejra: what you didn't hear was annmarie advisory on how to take my vacation. thank you. as the u.k. government and the labour party are locked in talks, both sides say this is the only way to fix brexit. we will discuss that next. the pound up a little bit for the second day. looking at the equity market today. it is a quiet session after three days of gains, the stoxx 600 unchanged. this is bloomberg. ♪ nejra: economic, finance and politics, this is "bloomberg surveillance." i am nejra cehic. here's uma pemmaraju. >> fans of tiger woods still celebrating one of the most remarkable comebacks in sports history. win that 15th big comes more than a decade since his last. are saying hes generated more than $20 million. in other news, donald trump claiming the stock ma

francine: annmarie hordern with the gender pay gap.italy. we will be speaking with the farmer -- former prime minister of italy and a lot of economists. we will talk about the euro zone and the latest news coming from italy in the last two hours. italy will cut its economic growth forecast .1%. that has loads of applications for the market and the budget. investors trying to get more information on u.s.-china and the trade deal. this is bloomberg. ♪ the biggest week in television is almost here. xfinity watchathon week. starting april 8th, enjoy free access to the best shows and movies from hbo, showtime, epix and more. what! whether it's more jaw droppers, standing o's upon standing o's or tv's biggest show stoppers. get more into what you're into. get ready to watch with xfinity x1 or the xfinity stream app. xfinity watchathon week. free starting april 8th. boop! ♪ alix: inching closer and closer. withdent trump will meet chinese premier. unicredit on standby. reports indicate the italian bank considers a bid for commerzbank if it's

let's get to your movers, with annmarie hordern.sler higher as we learned there are teaming up with tesla to combat rules.r e.u. admission market regulators are saying that they are suitable owners of oslo stock exchange. is lower this morning under some pressure, on the wake boeing cutting production of 737 jetliners by 19%. safran is a big supplier. .om: francine: thank you. there are reports that italy will use a contingency fund of 2 billion euros to ensure that its structural -- is met, amid lower output. europe has been struggling with a low growth environment causing more challenges for mario draghi and the ecb. themos fiotakis and kallum us.ering are still with themos, let us look at some of the borrowing costs from europe. stoxx, andne is euro the second one is the berkeley euroaggregate -- barclays aggregate yield. themos: this chart you're stocks me here is that are cheap. it tells you valuation, which. are strategist have made. . number two, the ecb is less strong than other banks, so they effective. they can buy a whole