tom: bloomberg's oliver crook breaking down -- breaking down the rheinmetall numbers. of the smaller startups later in the show. stay tuned for that interview from the defense story now to what is happening in terms of the retail, fashion retailer inditex coming through with the earnings line. does our own are coming through with a beat in the fourth quarter, earnings before interest and tax coming in at 1.88 billion euros above the estimates of 1.81 billion and for the full-year net income for this company, also coming in essentially in-line net income coming in line with the earning story of inditex is a beat at 7.5 billion euros. this get to the broader stock market. given the losses we saw yesterday, again on the s&p closing in on correction territory. down over 9% since a record highs dropping zero point 8%. futures picture looking brighter today, watching the tariff story, but the broadening out of trump's tariff and trade war's seemingly at not putting a stop to the upside that's coming through from a futures story so far, may be the focus a bit more on what tru

manufacturer, saw an almost 15%jump, along with strong gains for france's thales and germany's rheinmetallrd 2 tank. this follows a diplomatic push in europe after the acrimonious collapse of us—ukraine talks on friday. investors are betting on a european re—armament cycle as the white house pressures the continent to invest more in its own security. meanwhile, bond markets are reacting, with european debt if you think this is a top 15 company— if you think this is a top 15 company in the uk, over 40 billion— company in the uk, over 40 billion size in terms of how we value — billion size in terms of how we value it. — billion size in terms of how we value it. so _ billion size in terms of how we value it, so being up 14% higher morning is a sharp move higher in bond — morning is a sharp move higher in bond yields. it's the same across— in bond yields. it's the same across europe particularly funnily— across europe particularly funnily enough in you are seeing the real political outing pulled of the to new government needing to persuade the coalition partners. what that means persuade the c

. >> rheinmetall up. >> 3%. telus in france up. >> 3% as well. so we. >> continue to. >> see a lot. >> of. >> interest in. >> some of those european defense. >> names as. >> we see the continent spending. >> more on. >> defense. >> no doubt. >> but of course, the outlook here is very bullish for some of these names. >> let's take a look at the. >> other side of this equation and. >> take. >> a. >> look at. which companies are. >> the worst performing movers at. >> this stage. >> we have. >> alstom at the bottom there down. >> 2%. continuing some of that pressure. >> that we had already witnessed last. >> week. >> but is. >> crafted here. >> in the uk, that it. is leading the losses. >> down almost. 3% at this stage. in terms of some of the data that. >> we have. >> been getting so far today, let me get you up to speed on that. chinese consumer prices fell. more than. expected in the month of february. the consumer price index fell 0.7%. >> year on year. >> that was the first. >> decline in. >> more than a year. >> core cpi also sank for the first

jonathan: this is a personification of rheinmetall in europe.ing in europe. jp morgan raising the sector by 25%. capri. we understand restart your in a deal to buy product. up seven and an eighth. in tone, talk about that breakup discussion. we understand broadcom are testing 18a. up 6%. jonathan: manus cranny, thank you. amazing to see this european story come together. diplomatic breakdown on friday between the president of the united states and president of ukraine, an emergency meeting for the europeans becomes more urgent over the weekend. they push for defense spending. you will see more than just defense spending from the german government when they get their act together. infrastructure spending as well. numbers pushing 900 billion euros. the german debt market trading software, the euro stronger going into the ecb this thursday, cpi sticky for the europeans going into that meeting. defense stocks across the continent are absolutely surging. lisa: there is a timing issue, an important one that mark mccormick was talking about. a lot has

there were similar big gains for french defence tech giant thales and germany's rheinmetall, which makesd how ukraine would be able to tap into british—made weapons. a partnership with ukraine that allows them to use £i.6 a partnership with ukraine that allows them to use £1.6 billion of export finance to buy 5000 air defence missiles manufactured in belfast. that means ukjobs, uk skills, uk finance pulling together for our national interest. putting ukraine in the strongest possible position for peace and protecting innocent civilians from the terror of russian drones. well, defence stocks are up, gas prices are rising. and bond markets have also been reacting to the latest geopolitical tensions. yields — or implied borrowing costs on british and german government debt — have been surging on fears about the cost of all this military spending. a little earlier, i discussed that with thomas more, along with his take on what's driving up defence stocks so sharply. in terms of the move we are seeing — in terms of the move we are seeing this commitment by european politicians to spending so

rheinmetall called higher as well.called higher, the defense story in europe in terms of the equity moves, higher, year to date, that continues. just another catalyst at a significant one at that coming through around this decision to relax the debt break to increase additional funding for defense and infrastructure. so again, the catalysts of defense will be a late for these european equity markets with futures pointing strongly higher today and this is a key component in that story. we get the view from the german defense sector later this morning. the ceo will be speaking exclusively to bloomberg on the opening trade, do not miss that interview, a: 15 london time. china has once again set its economic growth goal for this year at about 5% at the national people's congress. that has started officially. had its first day in beijing and targeting a fiscal deficit of around 4% of gdp. this the highest in three decades. a sign of stimulus spending to come. bloomberg's china correspondent minmin low joins us from the chin

so rheinmetall and rank land vehicle exposed, artillery exposed.eonardo so the italian prime. so they have a capital markets day next week which we think is going to be which we think is going to be a positive event. and also the french defense prime. so our focus in terms of our sector has been those european names that have real leverage to growing defense budgets in europe. >> all right. >> ben, i really. >> appreciate your insights. great to speak with you and get more color on what's been driving. >> this rally. >> in defense. ben helen, head of emea aerospace and defense research at bank of america. coming up on the show, the ecb delivers a widely expected policy move but warns of uncertainties ahead. we'll bring you president lagarde's comments next. >> paul mcglone just. >> cleaned my entire house. >> for $19. >> seriously? $19. they showed up. >> right on time and did my dishes. >> my laundry. they even cleaned my windows. >> you just pick a date. >> pick a cleaner, and. enjoy a spotless house for $19. i love using home glow. >> and i thin

manufacturers like rheinmetall and hensoldt are now all up more than 70% so far this year. >> juliannathank you so much. julianna tatelbaum live in our london newsroom. we want to turn to asia now. and a very rough session there. our jp ong is standing by in singapore. jp. >> yeah. >> frank, you said it. it was a. rough friday. >> actually, out here in asia. >> no way to sugarcoat it. >> you saw a lot of markets and stocks really pulling back because of that trade tariff uncertainty after the trump administration decided to at least delay some of those tariffs on mexican canadian goods, leaving many question which way are things going to go? but so far, stocks did go down. take a look at the kospi in south korea. snapping out of out of a two day winning streak. the asx 200 australia also falling below 8000 for the first time in about six months. and also on the back of a sell off for banking stocks. we have to talk about china, though, because there is still ongoing hopes for greater chinese markets. that stimulus will be forthcoming after china set another gdp growth target of 5%, and

names like italy's leonardo, paris based palace group, dassault aviation, bae systems, germany's rheinmetall and more. they're not just hired today, kelly, but they're up huge this year. anywhere from 23 to 80%. i will post the full name to my x account at cnbc. >> look at those gains year to date. just incredible. that run is. lots more to come. but first, a massive shift over at the regional bank ending a 100 year old business segment. we'll ask the ceo what led to that decision and what it means for the housing market next. >> with allegra. >> i hope you can. >> stop being. >> sneezy without feeling sleepy. get 0% brain interference for fast non-drowsy allergy relief with allegra, it's a no brainer. see disney's snow white, march 21st rated pg. >> omaha steaks. semiannual sale is back! >> save 50% site wide on america's. >> best steaks. >> chicken, burgers. >> and more, all backed by our 100% guarantee. right now, you'll get 12 omaha steaks bu ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000

morgan upgrading the price targets on germany's rheinmetall and britain's bae systems earlier this morning. you see those stocks surging and the clock, of course, is ticking on new tariffs from the white house aimed at america's biggest trading partners. megan costello joins us now with the very latest. good morning megan. >> melissa good morning. so we've been expecting these tariffs of 25% on mexico, 25% on canada but 10% on canadian energy. and then that additional 10% on china all set to take effect just after midnight tonight. but negotiations are ongoing to try to reach a deal. and to illustrate just how in-flux things are for the first time yesterday, we heard commerce secretary howard lutnick suggest that tariffs could potentially take effect at maybe a lower rate. here's what he said. >> they have done a lot. so he's sort of thinking about right now how exactly he wants to play with mexico. >> and canada. >> and that is a fluid situation. there are going to be tariffs on tuesday on mexico and canada, exactly what they are. we're going to leave that for the president and his team t