euro stoxx 50, off by a similar amount, fishing at 3160 three. over new york, the dow jones industrial average is also trading down by nearly a full percentage. and the euro, down against the dollar, 136.99. >> going to a short break. when we come back, more on the floods that have devastated large parts of the offense. >> we will take you to bosnia and to serbia where entire villages have been left in ruin. >> so, keep it right there for the next 60 seconds. we will see you soon. >> welcome back. the balkans are flooded for another day. this time, two large rivers are set to peak at the same time, the sava and the danube. >> emergency services have been laying kilometers of sandbags to boost the riverbanks. >> elsewhere there is the chance of disease and infection as the waters receded. as well as washed up landmines in some villages in bosnia. >> the floods have left rubble and mud in their wake. in the northern bosnian town, the cleanup operation is already begun. the scale of the disaster has brought back memories of the destruction caused by

euro stoxx 50 also barely moving, finishing the thursday session at 30 to 44. the euro a tad higher against the greenback, trading at a value of $1.3 602. >> argentina has reached an agreement to repay outstanding loans that read -- that date back to its debt default in 2001. when srs still owes nearly 7 billion euros -- buenos aires. >> argentina will make a first payment of just under 500 million euros this summer with annual payments following that. argentina hopes the move will help it reentering world financial markets. this time, every year, a german city presents the charlemagne prize. >> this year, it was awarded to the european council president. ukraine's prime minister spoke to thank him for his support. moving onto sports now, tennis superstar rafael nadal has moved a step closer to defend a case french open title. >> the a's-time champion cruised to victory against a young gun from austria -- the eight-time champion cruised to victory. germany's andrea petrovich also advanced after hanging on to beat the swiss player in three sets. it's just two we

itv is one of the biggest losers on one of the -- one of the biggest losers on the stoxx 600.t is all about the guidance going into the second half of the year after the world cup. the world cup is going to play through. it is a mixed bag of results according to ubs. high expectations. advertising growth below estimates. here with a little bit more is caroline hyde. i just mentioned ubs. what is your take? >> i do not think it deserves to be the worst performer. it is lacking the blowout numbers. many are pinning many hopes on the world cup. this is a company that is going to have 32 exclusive live games of the world cup. they are sharing with the bbc, the coverage. the world cup brought in 47 million viewers for itv. many thought this would lori and -- lure in the advertisers. not blowout enough, so say many. maybe the market got to euphoric ahead of the itv numbers. >> thank you for that. head of trading strategy over at citigroup. before he went to the break, we were touching on europe and the conversations with various investors. what is your view? what is european qe? the

stoxx 600 just off a six-year high.ng,luxembourg perhaps where i should be as a good catholic. >> thank you very much, not sure how to follow that. 25 minutes until "surveillance" with tom keene. he joins us from new york with a preview. looking at what the president had to say yesterday at west point. >> a big splash at west point. just north of new york city, it is a gorgeous setting come back to the graduating class of 18 oh two. what the president did was really newsmaking. we will speak with ambassador richard jairus from the council on foreign relations. he was respectfully critical of the president's speech. in the haas will join us 7:00 hour as we look at the president's view of how our foreign policy should project. we look at the bond market manus cranny was talking about. olub from ubs will join us. it is a historic bond market as we look to the ecb and mario draghi. >> looking forward to it already. tom keene, "surveillance" shortly on bloomberg television. talking of denver television, and exclusive. we spo

. >> six weeks of gains on the stoxx 600. cac 40 up.t a record high. , it is closese today, as is the u.s. trade. the biggest mover is in italy, up 2.5% on the ftse. italy neverer of faced a national vote. he gets 41% of the vote. his party does, for the european parliamentary elections. that is a stamp of approval. down by 14 basis points. are headed back to 3%. , pretty muchar dead set on the day. draghi, the top line, though inflation, expectations may require qa. full steam ahead to june 5, ecb meeting where expectations are pretty high. back to you. >> let's get back to our exclusive interview with mario monti. confident the prime minister will make use not by going there and trying to throw things upside down, but continue the action that early .as been doing already persuade germany and other companies in the north that we all, including them, need to pursue structure reforms at home and to have continuation of budgetary discipline. but one which is more forward-looking and more respectful of the need for europe to increase its p

a six-year high on the stoxx 100.all-time high over on the dax in germany. 9:00 supply data it out at u.k. time. general -- german unemployment expected to stay at 6.7%. compared germany to everyone else. let's bring you you market open on your morning. down just a touch. that flat across most of europe with the exception of the footsie which voices -- pushes higher by one quarter of the present. you are looking for retail times -- sales a, at 11:00 take him -- 11:00 a.m. u.k. time. inflation is too low. we have to do something about it. we need to stay committed to that 2% inflation target. what is the risk of underperforming? they have got to do more. that is the big debate. .> indeed, we do or they do, jon. the battle for alstrom that continues. meeting witht is french president francois hollande as well as siemens. each of them made their case to the french lawmakers last night. joins us.onnan >> it was a head to head battle last night between the usg and the french head of siemens. it is all in the papers today,

barelyo stoxx 600 budget. light volume will run through those continental markets. talk about some of the stocks. with manus cranny. over to you. >> diy. kingfisher. they have got the brand in france. russia is doing nicely. the french businesses pulling the stock price donw. . first quarter missed estimates profit missed estimates. the special dividend is not doing enough to raise the stock. the biggest quarterly loss since september, 2011. volumes are 50% of an average day's volumes. when it comes to orthopedics, smith & nephew could be in play. striker corporation could be evaluating potential buys. look, therebank, are a couple of big things going on out there in terms of banking. we got a note out today on commerzbank. they cut it to neutral from outperform. the big issue is all about n all about the volatility in the market in the second quarter. bank of america missed the 40% up oside on the day. >> manus, thank you very much. let's talk about top headlines. the former nsa agent edward snowden says that america's government's efforts to label him as a low sys

stoxx 600 and positive territory as well. u.s. futures pointed higher. dow jones just off a record high. you hear this a lot, don't you? this has to be the most unloved bull market in history. he here bubbled this, that. 50% of investors and bloomberg poll see internet and social media stocks in a bubble and another 36% see it on the verge. that is the big debate in the u.s. -- text box. in the u.s. -- in europe, it is the ecb of what might do next. mario draghi having a little affect. we are down to 1.3767. the euro in the past 12 months up by six percent. what are the ecb going to do? bank of america says the ecb has joined the currency cold war. say, that action is not nailed on. the next stop for this one is early june. not talking about the ecb meeting but the first reading for inflation for the month of may. that is going to be the driver of this at the driver of what the ecb may or may not did. >> stay with us. back with "the pulse" in a couple of minutes. ♪ >> welcome back to "the pulse" live in london on bloomberg tv. the global investor poll is

royal mail is the biggest loser on the stoxx 600. the company posted revenue from parcel delivery. made up 50% of the group's revenue. the company has been trying to adapt its letter focused business toward more lucrative package delivery. electric component shares are lower. the company distributes electronics products and calls itself amazon for engineers. profit came in at 100 million pounds. >> things are picking up and generally getting better. it is much more global. when the world feels good, everything follows. the hotspots -- japan is doing very well but in europe we are more taking market share. the u.s. is strong. expects a change in business conditions this year. it posted its full-year earnings that matched estimates. growth will continue to be driven by developing markets. adverse currency movements will remain a difficulty. coming up, unilever sells sauce. ofwill dig into the shedding the sauce brands next. ♪ >> welcome back to "on the move ." i am manus cranny in london. .nilever the sale of ragu and bertolli will write over $2 billion. for more on the story, jon fe

not one we talk about often, a big mover on the stoxx 600.t's system received clearance for treatment of pulmonary embolism in the united states. a big mover today, up by over 5%. here are some of the companies on the move today. credit suisse sold $5 billion worth of bonds in its first offering since its bank unit pleaded guilty to help americans cheat on their taxes. the sale shows that credit suisse is not being punished in the bond market even after moody's downgraded its outlook. -- is gearing back to a single model. it will be sold only in italy. that is according to a person familiar with the plan. last year, models like the spider were featured alongside brigitte bardot in iconic films. ,00will reduce 11,000 to 16 16,000 more jobs. another country -- another company we are looking at is saga. david is here with more. take to itsnvestors sales pitch? >> let's just say that they were not that impressed. some of it was a case of mistaken identity or a question of saga saying, treat us like a retailer. they were looking at one of the big

. >> four days, no gains on the stoxx 600. we are snapping that today. ftse 100 up by about 0.2%. the dax also showing a quarter of one percent gain. in fx, central-bank meanings are going to be key. higher,lar pushing 1.3925. up by another 0.1%. mario draghi said the strength of this one may require further stimulus. talk and talk alone is not pushing this one down. you are seeing a relentless rise year to date. what can they do with the euro? above 1.39. pretty much every politician in france is complaining about it. can the ecb do anything? we are expecting pretty much nothing in terms of action. this one is going to be a big focus. >> thank you so much, jonathan ferro with all of your central-bank action. these are the bloomberg top headlines. stock markets from the u.s. to asia rose after fed chair janet yellen said the u.s. economy will require stimulus five years after the end of the recession. light of the considerable degree of slack that remains in labor markets and continuation of inflation below the committee's 2% objective, a high degree of monetary accommodation rema

this is the opening. 0.1%.up by despite the bad today to last -- the stoxxe in 600, the benchmark up straight week of agains -- gains. looking at stocks. today could be the day will we get information from credit suisse on the find from you as regulators expected to be around two point $5 billion. will it, with a guilty plea? 5- expected to be around $2. billion. with a guiltye plea? easing the next month. expectations are high. this is from the bank. if they are too strong, you are too weak. right about now. look for those remarks. >> he is speaking right now. we will speak to mark carney about housing prices. cohort.e get mike let me run through some of the comments. why not? ofo's gains are partly part -- and the ecb will monitor the influence on inflation was up nothing shocking there. targeting a weaker euro could prompt -- is a headlight -- the headline runs out. targeting the current is not the but whatmary focus of they consider. nothing that prophetic. he is concerned about targeting the euro. what is the most we can expect from the ecb in the next meeting? are trying they t

the stoxx 600, six weeks of gains. the longest winning streak since november last year.is your market open. of oneup by a quarter percent. ignore the ftse. that is closed today. italian stocks rally. that is the big gainer through the morning. guess why. matteo renzi. the italian prime minister has the stamp of approval from the italian electorate. if you look at italy on yields down by three basis points. that is significant. theanti-european parties discontent was energized by the underperforming economy through posing the eurozone, some thorny question for central bankers. euro-dollar. the only game in town was for mario draghi's speech. what are they comfortable doing? are they going to act june 5? a big question. have that through the morning. let's pick out some big themes with the portfolio manager. he is kindly to come in on this bank holiday. europe,ck off with because that is the majority of worry -- where the majority of your money is invested. a real kick to the traditional format of the eu. antiestablishment, does it mean anything to you as an investor? >> i

the stoxx 600 clinging onto a six-year high.a out of europe, not exactly contracting for 24th straight month. out of germany, that was the big surprise. german unemployment rises for the first time in six months. we were expecting a drop. look at the unemployment rate. compare and contrast that to everybody else. you will get a good picture of those divergent economies. expectations just keep doing this ahead of next week at the ecb meeting. a rate cut looks nailed on. can they do more? what is the risk of them under-delivering. some saying they will surprise. back to you. thomas ato come bloomberg exclusive. we are live in kiev with ukraine's foreign minister as the government unleashes an unprecedented offensive. >> and the first look inside crimea. we get rare access to the region to see what life is like inside the occupied territory. >> you can follow me on twitter. tweet us and tell us what you think of the show, what you would like us to ask the guest, and whether or not you think mark has frown lines. ♪ . >> welcome back

that is the biggest move higher on the stoxx 600. >> what get you some of the top headlines.rnment will steps to bolster equities. the government said it would relax limits on foreign investment. jinping set the nation will adapt to the new normal in terms of economic growth, but the government would take timely countermeasures to reduce negative effects. final results are due later from a referendum organized by the pro-russian groups in eastern ukraine. russian news services say voters backed the breakaway i am margin 9 nine 21 -- by a margin of to 1. the general election in india draws to a close today. to million voters eligible cast their ballots. this is the world's largest and longest electoral process. more details, let's head live to mumbai. >> absolutely right, it is the final lap of the big elections. it has been one of the longest and indian history. placest phase will take as we speak. 41 seats are going up. of the longest processes, not just for india, but anywhere across the world. today is going to see one of the most high-profile contest. in the templeen sign

in an unchanged market for the stoxx 600. i'll give you a look as far as what's going on with the individual markets. losing ground as far as the ftse mib is concerned. it wasn't a sell ain may and go away. the key outperformer, the german markets. interesting to see what's going on italy, losing ground by 0.8%. on the year-to-date performance, up 14% right now. but i'll go back to what i started out, talking about bnp earlier, shares in bnp off around over 5%. a "wall street journal" reports that the french lender could be hit with a $10 billion fine over those allegations that evaded u.s. sanctions against a number of countries, including iran. we've heard from the french siene tall bank saying they're watching the situation very closely. i spoke to the head of european equity trading strategy at jpmorgan earlier today. he said even if we see a lower fine of around $8 billion, which is what bnp are fighting for, we could see a dividend cut going forward. they said, look, even with a $10 billion fine, this is still undervalu

well you were away, the volume on the stoxx 600 was 55% below the 30-day average.ig chunk out of volume. , one basis bond point higher. yesterday, down 17 basis points. a big stamp of approval for his mandate.and elsewhere, what are we looking at? euro now buys me 1.3646. a big speech from mario draghi yesterday. he speaks again today. next, defending america online. find out how the u.s. army is turning hackers -- >> and taking up the fight for alstom with president hollandee. you can follow me on twitter. ♪ welcome back to "the pulse." i'm mark barton. >> and i'm olivia sterns. here are the bloomberg top headlines. china is pushing domestic banks to remove high-end servers made by ibm. american prosecutors recently indicted five chinese military officers for allegedly hacking into u.s. company computers and stealing secrets. vietnam says a chinese vessel sold -- sank one of its fishing boats. says 40 chinese ships circled the group of vietnamese boats in an economic zone exclusive to vietnam. wishes china's claims and disputes in the south china sea. >> ukraine's

. >> what you need to know is you have got the longest winning streak on the stoxx 600 since summer of2. stocks are up by 0.8%. borrowing costs are a record low. , all the hallmarks of what mario draghi does not want to hear. cpi numbers coming in less than the market anticipated. that is one of the biggest threats to the map underneath us. house prices, up for the 15th straight month in the u.k. we have a confidence poll from gf k. for the first time, turning positive. the underlying tenor is rising. ant you have got is inflation story and japan but the wrong kind of inflation. it is not what they want. you saw headline inflation rising. money coming out of the dollar and into the yen on the back of those numbers. what the bank of japan do more? reality begins to set in. dollar rising, yen falling. there are still people out there calling 105, 110, 120. hours, first couple of when you have not quite had your cornflakes, money was coming out of the yen. the dominant equity story of the day is undoubtedly bnp paribas. you have the story with socgen, saying that their business in russia

leaving the stoxx 600 relatively unchanged. a number of investors were out yesterday, despite the markets being open. you have to wonder whether that's leading the low volumes in the sentiment today. the mixed bag, the ftse losing a bit of ground right now, the xetra dax relatively unchanged. the cac current, bnp dragging that market down. was it a sell in may and go away? not really. the dax, the real outperformer, 3.5% higher in trading. that of course 1.7% this week. quite a lot of the gains we've seen as far as the core markets happening in the last few sessions. the ftse mib down by 0.9% on the month so far. let's have a look at the year-to-date performance. the italian market supported by the gains that we've seen this week after 3.5% following the election victory on friday. quick check on the foreign exchange markets. last trading session of the month. that could mean a weaker dollar. that does tend to see what we're seeing in the session. it is bouncing around that level. the imf in the earliest part of the session say

we were softer to the tune of 0.3% this morning for the stoxx europe 600. let's have a look at the individual european markets. we're seeing the xetra dax seeing a fair bit of outperformance but higher by 4 points or so. the ftse 100 is up by 4 points, burberry, one of the big news items on the corporate front. we'll talk more about that in just a second. the cac 40 is showing underperformance today, down by more than 0.1%. bnp is one of the big decliners because of reports about a huge fine from the u.s. we'll get more on that in just a second as well. let's talk about burberry, posting an 8% rise in annual profit. the company warned of currency headwinds ahead. we're seeing the stock up by 1.2%. it did underperform a little bit. and the moller maersk is higher. the company beat with first quarter net profit. the group confirmed its outlook for the first year. speaking first to cnbc, ceo was asked about the impact of the global economy. >> freight rate continues to be under pressure. we've seen most of our competitors come out with quite poor results. so t

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