we have a little higher on the dow jones stoxx 600. advancers outpacing decliners by a ratio of 6 to 4. not quite that. you can see the move on the stoxx 600, not very much. 0.08%. the uk has been dominated by numbers out from the retailers. nevertheless, it is up around 10 points after being down 33 points. still pretty flat so far this year. xetra dax is up 0.2%. flat on the cac 40. the ftse mib is up 0.3%. let's kick off with tesco, first of all. it's reported 2.4% drop in its christmas period sales. that's towards the low end of analyst forecasts. outside of britain, the world's third biggest retailer says sales improved in europe, but remains difficult in asia. morse yop, taking a big hit. they had a 5.6 of% drop excludeing fuel in its holiday sales. the firm blaming heavy discounting by rivals. sainsbury is not faring any better. it's currently off 2% a day after cutting its full year forecast and warning over cautious spending, despite reported quarterly sales growth of 2%. comparable sales dipping. food doing fairly well, thoug

those are the top and the bottom of the stoxx 600.are going to take a little bit of a break now. make sure you stay tuned. we have the intesa sanpaolo ceo joining francine. it is a busy 30 minutes, one that you don't want to miss. live from davos, francine lacqua will be with you with those two guests. stay with me. we will talk about markets before the end. breaking ahead in davos, 2014. ♪ >> welcome back to "on the move." china's manufacturing may contract for the first time in six months, adding to stresses in the world's second-biggest economy. estimates.nalyst a number below 50 indicates contraction. ukraine opposition is ramping up pressure against the president. riot days and nights, the select as many as five people dead. 2000 people were injured. special presidentingwe have a y this year. the rainy and president, the first time -- the iranian president, the first time in a decade we have had an iranian president. do you want to do business with iran? the presence of the president is great news. we hope for a positive conclusi

>> stoxx 600 closed down for the first time in five days yesterday. you're going to get a little bit more indication of the state of the u.s. housing market. housing starts. consumer sentment will also come out. the u.k. forward guidance. in the u.k., there is a 60% possibility, probability that the m.p.c., monetary policy committee, mark carney, will shift their guidance at the next inflation report next month. that is a hefty percentage. anyway, we'll leave it there. equity markets are undecided at the moment. the big shock is what's happening with shell. we'll have a look through some of the other equity stories there. equities are just opening that little bit better this morning. don't forget the dax was at a record yesterday. closed down on the day. there is a structural shift in terms of what will happen in the u.k. in terms of guidance. there we go. royal dutch shell. there is an a and a b share in royal dutch stair. this is u.k. listing, down 4.4% on royal dutch shell. so that is going to be a pretty big drag. oil a substantial component on th

you can see the stoxx 600 banking index gaining 1.2%.ith the cross bridge chief investment strategist. thank you for sticking around. financials are one of your favorites. they have been outperforming. we still do not know the outcome of the asset quality review. there are still a lot of unknowns. >> in the peripheral bond market, one thing which is helping the angst a lot -- teh been the rally in spanish and italian banks. banks as a whole will benefit. is notong as there another crisis. >> of course. and as long as the ecb follows up on what it has been saying. if you see how the economy is we had the jobs report, which people are not pleased about. tapering is still going on. benefits are going to from borrowing short and lending longer. , would say that retail banks they are going to benefit. we are talking about the u.k. 1.25%, as some of the newspapers have reported. >> a lot of people are awesome it -- optimistic on the markets. this is assuming we do not have any headwinds. >> this is important. in thistill operating limit we are

retailers have big movers in the u.k., helping the stoxx 600 dig in. retail up more than 1%. next, next is the big winner in terms of retailers. warning that the u.k. economy could be slowed down if we see interest rates rise. let's focus on what stocks are on the market. we do have next on the up. nearly 9% higher. numbers are so they will. -- ste able. we are all buying christmas jumpers. online was exceptional according to analysts. marks and spencer is up 3.5%. we get their details on christmas on january 9. have we all been starting to get on the high street, was it not as bad as many were expecting? some companies have poor performance. telecom italia up 5.5%. the reason -- with its brazilian -- will its brazilian unit be sold? telefonica is a key shareholder and is analyzing that. that is according to the spanish paper "el sol." next.twear helping next year i will have to buy you a sparkly number. out.feel i have been left let's get back to one of our major stories. a winter storm in the u.s., the northeast of the country is seeing blizzard conditions, almost 100 milli

similar picture on the euro stoxx 50, with losses not quite so deep there.ding is still under way in new york, where the dow jones at this moment is trading at 16,417 point down, just under .3%. the euro a little bit up against the dollar, trading at $1.3586. >> a court in california has told the chief executives of samsung electronics and apple to sit down and resolve an ongoing dispute about patents. >> the electronics giants have been at legal loggerheads ever since 2011, with each accusing the other of infringing on their intellectual property. together, the two companies account for more than half of the worlds smartphone sales. europe faces a catastrophe if it does not do something about its declining honeybee population. >> that is the very stark warning from british researchers who say in a new study that 7 billion more bees are needed to pollinate crops. the existing population cannot keep up with demand because of the increasing trend in growing biofuel crops. the shortage is especially acute in britain, germany, and france. >> in germany, the deci

euro stoxx 50 did even better on the day. across the atlantic on new york, trading still underway on the dow. there we see it off about .5%. >> one person who will not be competing in sochi is u.s. downhill skiing champion lindsay vaughn, who has just confirmed her withdrawal due to a recurring knee injury. >> the four-time world cup winner says she simply needs more time to recover after tearing ligaments in her right knee last year. the 29-year-old said that she is devastated to miss out on a chance of winning a medal in what would have been her fourth which are games, but she says that she hopes to return to competitive sport in 2015. >> that's all for us for now. >> that's all we have time for, but of course, more news for you coming up at about half an hour, and you can check on our website any time. what's the address again? >> dw.de. stay tuned for any update. goodbye. captioned by the national captioning institute --www.ncicap.org-- a7guc >> the first and initial batch of chemical weapons has been removed from syria.

the euro stoxx 50 lost just under .5%, to close at 3013. across the atlantic in new york, the dow jones industrials are still trading, currently also in negative territory, 15,000 772, and the euro was also losing these days. at the moment, it's trading for $1.3 497. >> chinese investors are turning their attention to europe. last year, they bought 120 companies or stakes in companies on the continent. more than ever before. >> a new report by consultants ernst and young also says a quarter of those firms are in germany. among them, a solar energy group. chinese investors favorite auto parts and consumer goods manufacturers. britain and germany are the preferred locations. still to come, thailand gets ready to vote on sunday. >> any radiation alert in britain. britain. >> welcome back. this sunday, thailand is expected to hold a controversial election that the prime minister hopes will confirm the legitimacy of her government. >> protests against her had been raging in the country since november. it's the latest round in what has been eight

euro stoxx 50 also up. in new york, dow jones industrial average trading slightly up. the euro is a bit down against the dollar -- $1.3 599. >> stay with us. we are going to a short break. when we come back, you will find >> welcome back. >> after learning the nsa is spying on millions of everyday people around the world as well as government leaders, a new revelation. >> the u.s. spy agency is developing a quantum computer, capable of aching any ash encryption code. "the washington post" says the spy agency is hoping to develop a computer that could break any code around the world and could also be used to tap into private banking and medical records. the news organization cites a document provided by former nsa agent edward snowden. to find out where this is all going, we are joined in the studio by our technology expert. what makes this quantum computer so much more powerful than other computers? >> the underlying principle is quite different. a regular computer, as we know it, processes information bit i bit -- bit by bit, which has data of one or zero or no. quant

euro stoxx 50 following in line. over to new york, where the dow is bucking the trend. it's down this hour. the euro is up against the u.s., $1.3672. personal computers have suffered their worst fall in sales in history. the market shrank by 10% in the past year. >> there's no guessing what is taking over -- tablets and smartphones. it's all a matter of having the latest technology and getting in at the best price. >> for many people, pc's are now old-fashioned desk-bound vices. smartphones and tablets have long offered many of the functions of computers, including internet access, sending and receiving e-mails, playing games, and lots more. newer tablets and smartphones are also much more affordable. that helps explain their popularity in china and india, and that's cutting even further into pc makers' market share. worldwide sales in pc's and laptops declined, and in the same time, tablet sales went from 148 million to 200 27 million, and smartphones sales toward both categories, topping the one billion mark in 2013. analysts expect sales from traditional computers to

that is the euro stoxx 50 index. between sectors it will help. investor, it is pretty good, especially if the prediction comes through. >> a potential upside. >> let's get back to the markets. are getting your attention. >> they are missing estimates. it is half of what was forecast. the campaign is not working either. some sun reports tomorrow. currently -- sam sun tomorrow. shares up ahead of those earnings. worries the investment bank and south korea was actually raising the forecast. see their operating profits rising 35%. benefit.oing to the stocks we are following htc land -- kangwon land. bc requested trading halt. the sides were quite a ways apart. they are apparently bridging the difference. point fiverom one percent. the lowest level since mid- december. they are currently on a trading halt. bit are said to have made a right here in hong kong. people familiar with the matter, offered lessc has than the book value. the hong kong bank has a market value of 4.6 oh yen dollars. $4.6 billion. the appeal is what everybody really wants to know

that is been shown in the stoxx 600 for the last 12 months. a global poll and uess what investors think? you know all about the property boom. 35% in london house prices that are in a bubble. let's look at the trade today. the europe and turkish lira. turkish lira over the last 12 months, look at the rise. that is a record high for the euro and a record low for the turkish lira. i talk about this one because the question is can the central bank do anything about this. >> they are the most upbeat on the world economy in any time in the last five years. 59% of those surveyed said that the economic outlook is improving. joining me with his thoughts on the potential, let's welcome rick. he is a global investor with state street and has more than $2 trillion of assets under management. it is great to have you with us and we took a poll of everyone in the world that is bullish. you are upbeat at state street as we start 2014. but we think the global economy is improving. -- >> we think the global economy is improving and you have to cause a little t

the stoxx 600 had the biggest two day drop since june.ether you believe the emerging markets move is going to continue through. japan having 18 months of deficits not helping the situation. you have equity markets -- look, paris opening just by an eighth. a little bit of a lift. let's see if we have any pricing on ziggo just yet. unilever, we are waiting. in terms of some of the other companies, johnny mentioned bg. this is the uk's third-largest oil and gas producer. in terms of the price of gas, the state is going to rip a hole of approximately $2.2 billion. we are waiting to the stock open to finish trading. vodafone was called two to three percent lower. at&t not going after the assets of vodafone at the moment. insurers is a u.k. which has been troubled by an irish operation. the dividend may have to be sacrificed. approximately 500 million pounds. whether that is the case or not, .ore speculation in the press that is a moving story. in terms of currencies, where you want to have a check is this, you saw the yen, money going into the

stoxx regaining their strides after yesterday's up and down session, seeing green across the board onet with the and we areials up, watching ubs, the shipping giant, who said fourth-quarter profits fell. we are also watching a sports apparel company that is beating estimates. we are back in minutes. ♪ is "lunch money" on bloomberg television. today's moving picture, where the video is the story. sickresident taking a leave. conditionespiratory and also a high fever. this is according to the website. this is him meeting with an eu official. no indication of how long he might be bed ridden. not a lot of sympathy from protesters, who still want him to resign. minusatures there are four degrees fahrenheit last night. passengers got sick. peopleise -- hundreds of had stomach really -- stomach problems. leftlanta, ice storms have thousands of street -- of people stranded. some stores took in as many as 300 people. the vice president spoke to people this morning. localwent to establishments to buy food. we also had snacks and coke and water and things like that. product.ll that >> quite a st

the stoxx 600 inching into positive territory. literally only one gain and it is u.s. payrolls expected to come in at 196,000 for september. 2.27 million jobs created for the year, 2013. some pretty strong data through the week. it has led some banks to upgrade. it is no longer about will the fed begin to taper. that process has begun. how fast will they ease back? he euro trading at 1.3611. pretty much dead flat on the day. what is going on in the u.s. and the euro-zone, expected strong jobs growth in the u.s. >> it is going to be a fragile year for a lot of people who trade in these markets. let's bring some of the spanish data to you at the bottom of your screen. this is industrial output rises 0.2%. in the last 24 hours, when it is nearly 24 hours since the e.c.b.'s first news conference of 2014, decisiveness to act was the promise. the e.c.b.'s tool kit has access to all the possible instruments. >> the recovery is there but it's weak. it's modest. as i have said many times, it's fragile, meaning that there are several risks from financial to economic to geopoliti

the stoxx 600 up over 1.25%. basic resources caught my eye.n i had a look at what drove the stoxx 600 and basic resources. it was anglo-american. this stock is storming away this week. the imf have upgraded their views. the world bank has upgraded their views for growth. anglo-american absolutely pacing the way. when you drill into the numbers, it tells a very interesting story. in terms of u.s. equities, you are going to get a little bit more of an indication later in the day. you are going to get the michigan consumer sentiment index, the housing starts. a swirling ball, how about we popped some numbers in? there we go. you also have industrial production and little bit later on. actor you. >> thank you very much indeed. manus cranny on the markets. >> still to come, a rude new boss.for shell's the chief executive says 2013 was not what he expected for the company. more on their profit warning as shares continued to slide. >> do you want to follow us on twitter? we would be delighted to have you along for the ride. see you in a moment. ♪ >>

right now, the stoxx europe 600 is up just a point. xetra dax is up 0.2%. the cac 40 is up 0.2%, as well. break the sectors down for you. oil and gas is the lowest sector dragged down by shell. financial services, travel and leisure, banks weaker. we've had this report. it's dragged uk banks down. chemicals, utilities, basic resources up 1.3%. take a look at where we stand with bond rates. ten-year treasury yields, do2.8. mixed u.s. data. we did see jobless claims yesterday falling. and we suggest maybe that nonfarm payrolls data was something of an aberration. we'll keep our eyes on gilt yields, as well, coming up in just a few minutes time. retail sales suggesting it hasn't been the best christmas, of course, in the uk, particularly for the growth. pound is weaker at 1.6329. the dollar taking a bit of a pause after recovering from the nonfarm payroll. dollar/yen, back down to 104.34. the aussie dollar just above 3 1/2 year lows which we hit yesterday. >>> still to come, now, he resigned in the wake of a devastating roof market collapse, but led his countr

shares in the retail giant rally to the top of the stoxx 600. >> announcer: you're watching "worldwide exchange," bringing you business news from around the globe. >> very good morning to you. welcome to "worldwide exchange." retail sales stronger, hawkish fed officials. >> and goldman sachs came into this week saying we can see a 10% pullback. one day and everyone is desperate to get back involved. >> early fed tapering, and we are feeling better. >> the world is great? >> the world is okay. plenty to get through, as well, on today's show. >> hong kong leaders pledge to tackle the policy and housing rows at its policy speech. we discuss the $10 billion deal at 10:40 cet. >>> and it's back on the road for mary becauser. it will start paying its first dividend in five years. >>> japan airlines grounds one of its boeing 787s raising fresh safety concerns over the company's dreamliner aircraft. we'll get the full story live from tokyo. >>> and bank of america continues earnings season. results are out before the bell. we'll find out what banks our guests say are undervalued at 11:45 cet.

. >> we are just getting some breaking news out of spain. 600 openthe stoxx higher gaining 0.5%. in terms of spain. we have retail sales falling from 1%. hat i a little bit of wj think we were expecting, a fall. we will keep an eye on spain and that index. you can see the ibex opening 1% higher. you don't want to miss this coming up interview later in the program. we are watching deutsche bank. hans nichols is at the bank's news conference this morning and the co-ceo speaks to bloomberg in his first interview of the day. we will bring that conversation later this morning. we also have to focus on income inequality. this is the big push that president obama is speaking about. >> it is more about the underemployment, people who work part-time and what a full-time job. earnings typically in developed markets have been low. the kind of quality of the labor data has become really important. for the fed today, two issues, .m. isn't one. the fed does surprise us sometimes. >> that is what keeps us on our toes and in our jobs. with the federal reserve have to play catch-up? will they sta

the second highest performer on the stoxx 600. kering up 2. 9%.oining us on the set, nick sanders from btig is with us. it's really interesting because many people were cautious around luxury after what we've seen from burberry. lvmh has made us do an about turn almost and say, well, em isn't dead after all. >> even diageo talked about the slowing at the high end because of the anti-corruption measures in china. someone is going to be wrong, whether it's lvmh being too optimistic or diageo being too pessimistic. >> people are still buying handbags, they're still buying fashion goods. is this just a matter of getting the product right, that lvmh perhaps has the right logo, it's the right marketing and people are still buying this product, and they're buying lv? >> i think there's a good bit to do with that, the higher end brands. and, again, you've seen good growth in their luxury brands, but you've seen slower growth in the watchers side of things, which has been hit by the anti-graph measures. >> what's most interesting about the fact that we're

the biggest gainer on the stoxx 600. biggest wind turbine maker has upgraded its estimates for cash flows to one billion euros. was 500 million to 700 million euros. the chinese automaker that is backed by warren buffett plans to introduce for models in the u.s. by the end of 2015. nissan has unveiled a redesigned version of the traditional london taxi. it tweaked the car after local authorities say they wanted the model to look more like the city's iconic lack cats. well, the vehicle will go on sale in december. it doesn't look too bad, eight, guy? i'm attached to the traditional black cap, but it is not that. >> i am more attached to bob the builder, but let's not go down that road too far. bloomberg's hans nichols was on could be a bigis boost to jobs as well. >> there will be 300 jobs. what mercedes is doing is working with the local community on how to take over this army base and turn it into a massive proving ground for their cars of the future. let's have a look. >> on these wide-open fields where nato infantry o

is one of the biggest gainers on the stoxx 600 today.he shampoo and ice cream giant had fourth-quarter sales growth that beat estimates, led by a rebound in emerging markets. its chief executive says confidence is running high. >> when you are in many of these emerging markets, there are lots of aspirations and consumers are trading up three -- trading up. a significant amount of people enter the middle class every year and that fuels our growth in emerging markets. , it is aurope different way. consumers have to downsize if you want to make changes to their behaviors as well. we have different strategies. to continueou going to trim costs? is it going to be people? >> we do this with discipline and continuously. ,n an environment like europe we also have to be sure that we cater to their needs and that means that we take the value of the costs out of the system. with a company like unilever, some costs creep in that the consumer is not going to pay for. we have to take those costs out and we will continue to do that. moving forward, we

>> of course the first one is, what does the stoxx cash ratio -- the stock's cash ratio going to lookends on whether or not softbank is able to secure $20 -- ofn of financing good financing. what is the integration going to look like at the management level, at the customer service level, the subscriber level? the deal structure is always an issue. you have to think about it when you consider to big companies margin. the last slide is a breakup fees. >> they want pain. they will get paid regardless. >> you already have these upfront costs when it comes to , making sure you get bankers on board. there is always a big breakup fee. >> thank you very much indeed. that is what we have at the moment. softbank's american ambitions continuing. let's have a look at some other stories which have been making corporate headlines. >> more disciplinary action in a far-reaching inquiry. hsbc and citibank have taken action against four more traders, meaning 17 have now been either fired, suspended, or put on leave. bloomberg reported these allegations last september. ising on to taiwan, acer tumbling

. -- the biggest gainer on the stoxx 600. it is the biggest gain since 2011.grance company reported results earlier that beat estimates. nintendo shares fell today. the company's president failed to impress investors with plans to improve profits. be videogame maker will called to release existing game titles for smartphones. now, it has been a longtime since nintendo's glory days. jonathan ferro looks back. dominance of the $93 billion gaming industry is over. but it was not always this way. according to independent analysts, of the top 20 video games ever sold, 18 of them were released by nintendo. the top three of all time all carry the nintendo name. wii.mber 3, mariokart this game sold 34 million copies. a-game health cement nintendo's dominance as the console of choice. and -second- >> it's me, mario. hasuperamerica brothers sold over 40 million copies since its release in 1985. it was hugely influential on the best-selling game of all time for about three decades. that was until -- it took gold. and helpedh a wii define the success of the original conso

it is right at the top of the stoxx 600 today. the sales are up 3.7%. if i could just throw one more set of numbers at you, if you take out all the volatility on acquisitions and exchange rate fluctuations, sales are up actually 8%. so showing that there is some stabilization in the luxury sector and not so for investor to do, a little bit of a u-turn, consumption out of developed markets. even though consumers forced less cognac, it was the americans by hennessey that boosted the numbers. it's pushed up numbers in rival companies, the likes of ma, karen. let met send it back over to you. >> thank you for that report. we're going to talk about google for a moment now. their fourth quarter revenue beating the street's expectations, but earnings falling short of analyst predictions. gene covers that company for piper jaffrey. good morning to you. >> good morning. >> you seem not to be worried or upset about this at all. >> no. part of it is a shift in the theme, i think. and this is really -- the company talked about it last night. this is not about any m

that is why its share price , bested 410% last year performer in the whole of the european stoxx 600.gh it never once generated a profit. it is not just about delivering groceries. it is about exporting this to other types of retail. saying, babyre products could be delivered. this could go global. that is what the chief executive is thinking and that is why there is so much opportunity. >> i am still trying to get my head around those robots going at 20 kilometers per hour. that sounds pretty dangerous. so far, the grocery delivery business has been ocado's forte. explain to me how they have expanded and what they are doing for morrison's. >> they have been doing it for several years now. they were set up by goldman sachs bankers in the 2000's. in may of last year they struck a deal with morrison's for 216 million pounds offering them their technology. this is where the opportunities are. they are licensing intellectual property, technology and the just ask services. they claim they have allowed morrison's two, to the market in a quarter of the time and in a fraction of the price. ye

the headlines from around the globe, unilever shares up near the top of the stoxx 600 after better-than-expectedslowdown. the ceo told me on a first on cnbc interview the company is still facing a emerging market headwinds. >> emerging markets used to grow at 6% to 7%. it's now more 5% to 6%. we have to deal with that. we have seen a significant slowdown for growth in major markets. >>> u.s. traders return from the martin luther king holiday with about a rlt kwaer of the firms reporting this week. johnson & johnson is and verizon get the ball rolling today. >>> police in texas have arrested two people from mexico they say may be tied to the massive data breach at target. although one u.s. authority says the two aren't connected. and the peoples bank of china poured billions into the km as many bringing down money market rates and easing restrictions ahead of the country's knew year holiday. >>> and if you've just joined us in north america, welcome back. i hope you have a good day off yesterday. this is where we stabbed for the futures. we are indicated higher. the s&p currently trading some 4 1

now advancers and decliners on the dow jones stoxx 600 even stevens between red and green. so the ftse yesterday did absolutely nothing and it has done nothing for the previous week, either. so today, we're about an hour into the trade, we are up 16 points, a substantial move compared to what has been happening. the ftse mib up, as well. moller-maersk, up 4.24%. the group sold nearly 90% in its department store chain. and basf on the rise. analysts have raise dollars recommendation on the stock to a buy from neutral, citing expectations for future earnings growth. keep your eyes on where we stand on treasury yields. we've come lower today, 2.95% is the yield there. gilt yields below 3%, as well. we'll talk about the value there versus gilt and treasuries in a few moments. on currency markets, dollar/yen yesterday got down to below 104. we're just above it again this morning. 104.35. euro/dollar, 1.3624. and sterling at the moment is just below 1.64, as well. that is where we stand in european trade. let's recap that asian session. sixuan. >> yeah. for the first time, overal

as you can see, 9 to 1 reds to greens taking the stoxx europe 600 down by around 0.6%% so the in the first hour of trading today. let's take a look at the individual performance of these markets. red. red across the board. the ftse 100 down 50%. remember, we're going to be looking out for cpi data shortly for that. german market down 0.7%. and the cac 40 taking their lead from both asia. i mentioned the nikkei there, but also the u.s. session far weaker as investors likely paired some risk ahead of earnings season, getting started with the financials today. let me give you a look at some of our key stocks that we're watching today. the first one, ashmore is taking a tumble after reporting a 4% drop in asset from the management well below forecasts. the group's founder blames the trend on uncertainty surrounding u.s. monetary policy and the resulting volatility in emerging markets. so their analyst did say that that can bring gains this year, too. let's move on to the german drug distributor celesio taking a hit after a deal with mccommitteesen fell through. that stock losing around 6

declineers outpacing advancers around about 7 to 3 on the stoxx europe 600. ftse last year was up some 15%. it was a laggard compared to many others because basic resources. it's down around 0.5% two hours into the trading day in europe. manufacturing pmis a short while ago came in weaker than expected for the month of december. they're still pretty high, though, still suggesting a 1% quarterly growth for the uk. the xetra dax is down around 0.6%. the cac 40 down some 0.8%. and the ftse mib is up 0.1% being helped by fiat closing out that deal with chrysler. we have hsbc's china pmi today, coming in at 50.5 in december, unchanged from the earlier flash reading, as well. it was down slightly from the 50.8 in november. it's another indicator that perhaps the rate of growth in china's manufacturing output is easing, the orders up at a fractionally slower pace while export orders declined for the first time since august last year. to recap the asian markets, the first time they've traded this year. the shanghai xos onnit down 0.3%. the hang seng is up marginally.

fiat is at the top of the stoxx 600 today because around 4.35 billion deal. that 41% stake with the united auto work's up. they're committing a further $700 million to be paid over thee years. the question remains whether there will be enough to wipe the debt. fiat stock, liked by the market, up 12.5% at the moment. and a couple of retailers you might be expecting in focus post christmas sales, a gloomy season for many uk retailers, but there has been an outperformance from john lewis and rival house frazier, as well for you. keel keep our eye out. >> dlorg/yen has been up at five year highs, too. that's it for this particular. we have in some pictures for you for what new year's eve was like in london. it's where i met joe. this is what it looks like. >> i saw that, ross. they didn't show the wheel immediately and then i saw the wheel. i hate that thing. you got nervous on that thing? >> petrified. i don't like that. hey, what was i going to say? i was going to ask you something else. >> beautiful. >> what do they do before the wheel? what was sort of the --

the upside, a little bit more than seven to three, advancers outpacing decliners on the dow jones stoxx 600. translating into slower gains this morning. the ftse 1 00 currently not doing too badly. just off 0.1%. the standout stock is next. sales up nearly 12%. november the 1st to december the 24th. they've raised the annual profit forecast, as well. next step stock up 8.5% this morning. xetra dax and the cac 40 up 0.25% each. and the ibex up 0.4%. while that is done, it has pushed the spread between spanish debt and german bunch to under 200 basis points. it's the first time we've seen that since mid 2011. there will be some debate about what happens as u.s. yields continue to rise about what happens to this space. but below 4%, that's helped out italy, as well. we have quite a lot of data out of the uk, as well. gilt yields still above 3%. uk mortgage approval up at a five-year high. house prices, according to the nationwide building society, up 8. 4/% year on year. but there was a big drop in lending to large firms, down 4.7 billion, which the bank of england has yesterday to explain

advancers currently outpacing decliners on the dow jones stoxx 600. up about 0. % in that particular understandsy. the ftse yesterday was down some 30 points. this morning, take a look. you can see we're up 58, up nearly 8%, 0.8% at the moment for the uk market. it is still essentially flat for the year. one day of gains, one day of losses, that's been the apparently. xetra dax is up 0.8%. the cac 40 is up 0.65% and the ftse mib up 0.4%. industrial manufacturing came in weak. as you can see, break down the sectors for you. no sectors at the moment are in negative territory. the weak is food and beverages. household goods, insurance doing fairy well. travel and leisure picking up, as well. that's mainly due to lufthansa, the german airlines predicting fuel costs will decline and target an operating resort of around 2.3 billion euros in 2015. a big bounce for the german airlines, up 7%. and swatch group, very well liked i'm understood in america, swatch watches up 4% today. the swiss watchmaker says it sees some dynamic growth coming through in 2014. de

the dow jones stoxx 600 advancers outpacing decliners bay ratio around about 7/2. the ftse 100 yesterday was down 113 points. we had a bit of a move higher this morning, up 27. 0.4% higher. gdp, we have the first numbers of gdp for the uk came in as expected, up 0.7% quarter on quarter. the annual rate of growth, 2.8%. that's about the best we've seen since 2007 for the year as a hole. it was 0.3% in 2014 and that's better than anybody was expecting this time last year. there was still plenty of room for a bit of catchup. it's another amount of huge reaction. the xetra dax up 0.7%. cac 40 up 0.8% as well as the ftse mib. they had a zero coupon bond earlier today. the notable thing about that was it's the lowest money they pay for that bond since they launched into the euro. so funding costs continue to decline fop eurozone cubs posting financial crisis. dollar/turkish lira, 2.2674. the central bank governor came out and said, look, we've had to raise our inflation forecast to 6.6% from 5.3%. they have got a meeting scheduled midnight tonight in anchorage time. the

hours into the trading session. 7 to 3 advancers outpacing decliners at the moment on the dow jones stoxx 600. and we're up near the session high. the ftse yesterday was just up some 9 points. it was down, got turned around by the turn around in u.s. equities. it was currently up another 20. george osborne this morning, the chancellor has been laying out his ideas about how we need to reform the european union both in terms of its economic competitiveness and its constitution, as well. the uk is facing a referendum sometime in 2017 if this current government is re-elected on whether they should stay in the eu. world bank report helping a bit, as well. break down the sectors this morning. there's only one that's negative and that's food and beverages, off 0.5%. otherwise, very much weighted to the upside. doing fairly well, banks, insurance and resources. that's the impact of the world bank support up 0.9%. it's down from 14%, the world performer in 2013, resources. >>> and burberry posted a 14% rise in its underlying retail revenue. that beats expectations. the company, though, has still

. >> at stoxx if i run continue, continue, anf iran event yesterday was hosted by the u.s. institute of peace and the woodrow wilson center. >> we are very pleased to have two people who have written books about iran. there was going to be covers of two books that are represented by authors here, and they have also just returned from iran, so what we thought would be very interesting for you and for us is to get a picture, a sense of what is going on inside, for all the reasons we all know, this is a time that we try to understand what is going on. maybe there are changes there, and that is what i hope we will get from the discussion. without anything further, robin is going to make some observations about her trip, david is going to make some observations about his trip, we will have a conversation open to you very quickly, and i look forward to your questions. this will be an interactive, easy discussion here. >> at thank you, bill, very much. four headline of an old journalist, four things that i think are particularly interesting. one is the fact that david and i were a