and john had to my lown is keeping an eye on the action in frankfurt for us to now house the i.p.o. coming along. you know better than expected the shares have seen gains of up to seven percent today it's also trading higher than its initial issuance price of twenty eight euros well the i.p.o. festivities are dying down a bit the mood here at the frankfurt stock exchange is quieter now but we have seen some beats on this front at the c.e.o. of health and here is that mr ballard more this is what he had to say when i spoke to him earlier. very good i mean this is has been a long journey an exciting journey for us it's a great moment to hold the first day went. well we will continue to move forward with even more passion i believe. the first was below expectations of then above expectations so a bit of a rough and tumble there in terms of what we got in the end but this isn't the most certain of market environments was not really the right time for an i.p.o. and i'm definitely yeah because i mean this is not about selecting on the perfect timing this is this i.p.o. was a means to an e

so let's cross over now to our financial correspondent jeanette lown who is in frankfurt headquarters of course of way the e.c.b. is ginnell you just heard from the european central bank you've been listening in tell us more about what they had to say. well you know nobody actually really priced in a rate hike or a change to our the withdrawal of some of us today so the fact that the broader policy has remain unchanged hasn't really come as a surprise but now investors are really focusing on that paragraph that was dropped from the forward guidance the forward guidance of course being the part of the policy that deals with the future direction of monetary policy at the e.c.b. so you can view this as kind of a long coming victory for the governing council's hawks the since the policy statement no longer contains this reference to widening stimulus in case the economy worsened so that is of course an end to what they call the easing bias or this bias towards quantitative easing now that's also a sign of course that the e.c.b. is slowly showing stimulus to the door at a time where the eu

see to what extent that is playing out all the european markets all financial correspondent do my lown is that the frankfurt stock exchange for us to know all those just is continuing. yes they are it's been a pretty heavy dave declines on the european markets now some of those losses have been pared back somewhat some of those losses from early trading but european markets still firmly in the red the docs for example is poised to to end the trading week close to two percent lower which really isn't surprising considering that it's a very export or heavy index they don't want to see a trade war especially considering that if they're priced there could be depressed growth and therefore depressed demand in their key markets and some of these companies several of their supply chains depend in part on china so this is going to be a real problem for them and talking about the european union of course the e.u. has been granted an accent exemption can you come up with the goods to dodge these terrorists in the long run or is this a case of i dunno just the inevitable well the hope of course i