and a whisper from an all-time high, stoxx 600, starts 0.4% from a record high. three of the things we are watching this morning. i am excited for the market open. i know someone else, caroline hyde. caroline: just a few moments, are we complacent? that's what people are talking about. a ticking time bomb in greece is what a capita group is saying. eric nilsson calling it ended game stop. they could slip out of the eurozone into chaos if they do not make a u-turn. meanwhile, stocks opening pretty much flat. ftse pretty much flat, 0.25%. last week, we close at values that take the global equities to highs. $68.4 trillion is the value of global stock market if you're looking at the country world index. that can buy you elites four times united states gdp. where else do you go when you have the economy flush? the u.s. backing off from immediate rate hike. japan, not to mention the rest of the countries around the world. people are going into stocks. pretty much flat and concern about what greece will do concerning its finest. king dollar up 0.1%. meanwhile europe pr

the stoxx 600 7.5 year high. that is where we closed yesterday. there is room to go further, so says wayne bowers. he is head of investment ceo of the european element. almost $1 trillion of cash to splash. he says, take profit in overweight united states stocks, plow them into europe and japan. that is where you should be reinvesting in your stocks. ftse up 0.3%. let's check on how bonds are doing. ecb we are in day four of the bond buying. they've got to be buying 60 billion euros worth month on month. we are seeing borrowing costs coming down in greece. that is on the 10-year. italy continues to fall as well. spain looking flat. germany just inching up that little bit. the key moves we saw were in the euro. this is where we are seeing a little pot higher. at one point, we were below $1.05. seems to be a little change of direction if you have been shorting that euro of light. remember, weakened by a record 13% this year. biggest loser against the developed markets. we still see the ecb committed to starring on inflation. denmark's biggest pensio

the downside worst performer is in the stoxx 600.orts are that it is going to up its stakes in business and one the main once is the stock taking a little bit of a hit. jon: jon: thank you. it is budget day and osborne will present his last budget in the election year. what does it mean and why can we expect in the u k? we have the managing director and the economist. we have the director of economics. great to have you with us. i will start with the boring budget and the economics. the politics of the numbers are exciting. do you expect it to be boring? jon: -- >> we are likely to see stronger growth and inflation. that will give a bit more flexibility and he will use that to focus on the differences and support for families and the cost we have seen rise. jon: the forecasts it pretty and the headline numbers expect forecast to be upgraded today. >> we are optimistic and close to the bank of england. the kobe are is pessimistic relative to the consensus. the growth is to burn 2% -- 2.2% next year and the public-sector finances are l

euro stoxx 60 futures up. dax futures up 52 points. let's get the caroline hyde for your market open. caroline: we are likely to end the week on a high note. this will be your sixth straight week of gains on the stoxx 600. ftse up. similar moves and france. this is the longest winning streak for european stocks since june. all of this on the back of ecb action. we are seeing basically the concern about a rate hike in the united states not managing to dampen the appetite for risk in europe. the ecb is driving the euro lower. that means production could help rejuvenate european economies. amazing amount of bonds being bought. european stocks up. european bonds are up as well. borrowing cost coming down in spain on the 10-year. they are coming down for germany as well. 0.24%. in the first three days of bond buying, 10 billion euros of bonds were bought. driving down the euro, driving down borrowing costs. let's check out the euro. we did see it strengthening yesterday, but it is back down against the dollar. we did get a little bit of a w

the european stoxx 600 index up. u.s. futures interestingly enough a mixed picture. the s&p 500 with a higher open around 2 points. dow jones down and nasdaq up about 5. as we were telling you a couple of days on wall street. a strong rally for the s&p, the dow, and the nasdaq. we'll see if that continues in today's trade. here in europe the rally continues. the french markets down 2 points. italian market up about four points. when you look at the german dax it's on pace for the 9th straight week of gains and the ftse 100 seeing a gain but basically plat on the day. commerce bank shares sharply higher after reaching an agreement to pay $1.45 billion to u.s. authorities to settle allegations of sanction and money laundering violations. the german bank was accused of previously ignoring sanctions on countries like iran and sudan. the one off charge caused a steep decline in commerce banks 2014 profit. as you can see up about 4%. we'll keep an eye on this stock. >> it's a mixed finish to the week for european equities. at the start of the week it was very clear that eu

the euro stoxx 600 index up about 15%.well as the benefit and positive impact of course of the weaker euro on european corporate earnings. down about a third of a percent. keeping an eye on greece and it is trading the index down about 2% but in today's trade the bright spot is the ftse 100 up about 40 points. the budget will be unveiled in today's trade. currencies, let's take a check. the fed mentioned the stronger dollar. the negative impact on multinationals. that's a key question we'll get the answer to at 2:00 p.m. eastern when we get the fed statement. right now the euro strengthening against the u.s. dollar. still hovering around 12 year lows but right now the euro at 106 against the u.s. dollar. >> oil continues to slide. a few weeks ago we thought we found a little bit of a bottom with wti around 50 and brent around 60 but they'll soon test levels $10 below the expected marks. wti up 2.5%. of course this comes as the eia reports weekly oil data at 10:30 eastern time today. yesterday the industry group says they r

the euro stoxx 50 also. the dow is going down at the moment. the euro continues its downward course against the dollar. >> a ceremony has been held to mark the end of british military operations in afghanistan. >> the armed forces led the congregation into st. paul's cathedral, joining politicians. relatives of soldiers who died in action also attended. the archbishop of canterbury blessed a cross made out of showcasing. >> israel is going to the polls next week with benjamin netanyahu hoping to win another term in power. >> final opinion polls show his conservative party lagging behind a central-left coalition. >> our correspondence sent us this report on their final days of campaigning. >> this campaign spot is called "babysitter." they opened the doors to benjamin netanyahu. he promises their child will be safe, if he wins reelection. security has been one of the dominant themes of the campaign so far. he is hoping the issue will help him win a fourth term in office. he is counting on the votes of people in towns like this one, close to the

the euro stoxx fell over 1%. the dow jones industrial average is down more than 1.5%. and the euro taking a downward trend against the dollar at 1.07 even. >> iraqi security forces of retaking a town near the city of two great as they press on with their offensive against islamic state militants. >> iraqi forces attacked and regained full control hours later. meanwhile, to create is the hometown of the late dictator saddam hussein, of course, whose city is a key test for iraqi troops as they try to win back territory from the islamic state. >> we are joined by iraqi's vice president. thank you for joining us today. let me start i these reports that iraqi troops have driven out i.s. forces. is this a significant breakthrough for the military? >> it is a breakthrough, but the breakthrough is ultimately winning the war against this evil force. >> we know we have sunnis and shia working together against the islamic state. do you think that kind of unity will continue if and when you have defeated i.s. in iraq? >> there have to be people working together, there has to be a

the euro stoxx took a loss to close at 3610. the dow where they are still trading in new york, 18,022. the euro is slightly up against the dollar. >> check your wrist -- apple has given its fans the news they have been waiting for -- details on the apple watch. >> at an event in california chief executive tim cook called it the most advanced timepiece ever created. >> apple watches the most personal device we have ever created. >> tim cook's announcement has put it into all the speculation since apple watch was announced in september last year. but watch wirelessly links to iphone, offers apps for fitness and can signal an appointment. there are already smart mark -- smart watches on the market, but they have failed to capture consumers'imaginations. >> i see people mostly using it for what you would use it for -- fitness training come how are you doing as a person -- i don't see a lot of business at the moment. that's where they need to move if they want to hit a broad audience. >> apple has a big job to do to convince buyers i

while germany's dax finished almost 2% higher, the euro stoxx added 1.5%. the dow solar it -- sort more than 200 point. -- the dow soared more than 200 point. >> if you've ever been to germany, you will know that folks here love recycling. they also love their cars. >> the combination is proof that it not easy being green. although a survey on environmental awareness show over 80% of germans want urban planners to shift the focus away from cars. >> heading to work by bike or taking the bus to go shopping, many germans like to avoid using a car if they can, taking that to protect the environment as part of daily life for one third of germans that is according to a new study. >> i just like to do what i can do to avoid driving with my car when i can avoid it, things like that. there is not much you can do about it but you have to look for the little pieces you can do. >> i try not to use plastic bags. and to go cups and stuff like that. >> in other countries, it is really bad, like thailand or something like that. everything is in plastic bad -- plastic bags.

the euro stoxx 50 finishing at 3591. on wall street at this hour, well above 18,000 points. that is a pretty impressive number. the euro stronger against the greenback, trading at $1.11. tech companies are in barcelona to release their latest adjutant the most important industry trade fair of the year, the world mobile conference. >> all the major companies are there. the industry's most successful company, apple, avoid tradeshows generally, but their competitors were there showing off their wares. >> this is the new linea six. >> microsoft is hoping its simple new phone will be the new phone for businesses. the u.s. tech giant is aiming at corporate clients by bundling the phone to a one-year subscription to its office software projects -- office products for 150 euros. but the afford will price on these devices, you can get three of the linea -- lou mia devices. >> no key a is back in the hardware market with a tablet. the firm says they are looking ahead to the mobile internet of the future. they expect the new networks and world out around the world will soon revolutioni

. >> we can stay for a closer look at the number -- the dax finishing at -- the euro stoxx 50 down as well. the dow jones up by more than .4%, still above 18,000. the euro up slightly higher against the greenback. >> this is commodity prices continue to remain low. with prices at the pump continuing to turn downward for the foreseeable future, play of drivers are looking at getting into a new set of wheels. >> for all the talk of electric, self driving cars, it's the ordinary bread-and-butter models stealing the show in geneva this week. >> germany's volkswagen has grabbed the title of car of the year for its thought -- for its passat model. full dragon has started well into 2014, putting half a million cars on the road in the first two months, a new company record. >> we are honored and proud to receive this famous award. it is one of the most famous award you can get. they are able to evaluate such a car. >> carmakers are constantly coming up with new makers to put their competitors into the rearview mirror. new luxury features and more economical engines but while new car sales are

the euro stoxx 50 index also up about an percent while the euro is worth only a bit more than $1.10. >> thank you very much for that. >> finally the story of a thousand year old chinese monk who is becoming something of a star in budapest. >> he followed an exact ritual that led to his own mummification. supposedly the monk's in light and meant and the loosening of this world's bonds. >> this may look like an ordinary buddha statue, but this thousand year old work of art is hiding a secret -- a secret so special that hungary's national history museum has devoted an entire exhibit to this unique religious relic. >> the buddha statue belongs to a dutch private collector, and when he bought it, he had no idea what was hiding inside. he lent it to a museum for an exhibit, and they put it under a ct machine, x-rated, and discovered the statue hides a mommy of a monk. the monk probably lived around 1000 years ago in china. experts and he committed self mummification with a special diet of seeds and poisonous plants before he ended his life while meditating in a pit. experts stressed the co

the euro stoxx 50 index pretty much unchanged. the euro is losing ground further, plunging below $1.09. back to you. >> thanks so much. have a great weekend. >> imagine you enter a competition, you win, but not for the man who has stunned germany by turning down the opportunity to represent his country at the eurovision song contest. >> he was voted the winner by viewers of the live tv show to choose germany's entry to the song contest. then, rather than relishing in his victory, he announced that he was in no condition to go any further and conceded the top spot to the runner-up. ♪ sometimes it pays to be second best. >> keep watching her. you are watching the "journal." do stay with us. [captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. visit ncicap.org] >>> november 2013. a unique evacuation drill is being held in sendai. it's designed specifically for the city's non-japanese residents. using earthquake simulation equipment, they can experience shakes resemblin

we had the stoxx 600 closing up the best part of 6%.end of last week we started to pause for breath. we're slightly positive but nothing too significant. we have the ftse 100 up .3%. it is touching another all-time high today. the dax up the same amount and touching new highs. france is down .2%. italy is up just under a half percent. let's look at bonds. we've seen significant moves in the bond market ahead of the start of the bond buying program which comes later this week. and we've seen it hit 1.32% a record all time low. the greek low back around 9.7%. it's below 10% continues to be elevated compared to the rest of europe for obvious reasons. germany at .2%. it is now just above it. and the spanish yield 1.24%. let's have a quick look at what asian markets have done because we, of course had the budget out of india which pushed the market higher. we have a percent of gains in india on saturday. a special trading session because the budget was being announced and continued up .3%. we're looking at thailand down .3%. we've got china

on this final day of the quarter the stoxx 600 is up. we did see profit taking in the german market for example. it rose 1.8% yesterday. it's risen more than 23% year to date. one of the best performers as we saw on the charts before. retail sales in germany actually fell in february and that was the first drop since september. let's have a look at the markets one by one. xetra dax back in the green but only barely so but still above the 12,000 level. the ftse 100 lagging just a tad but what we're seeing today isn't big moves. similar percentage gains for the ftse mib. let's move on and show you what the bond markets are doing. prices to the upside and yields to the down side. we are seeing the ten year german yield just below that crucial 2% level. it's quite interesting that despite the fact that stocks rallied in the u.s. yesterday yields didn't move very much. that is quite an interesting observation here that some of the market analysts made yesterday. 1.57%. in the currency markets, here's what's going on. we're seeing the euro jus

euro stoxx 50 also in their -- negative territory. not a lot going on on the dow jones.arah: down across the board. switching to sports. australia have reached the cricket world cup final after defeating the champions with competent, all-around play. sumi: they had a formidable tally for a record semifinal. steve smith was a standout performer. india made a bright start that could not match the australian run. australia's win sets up a final against cohosts new zealand. sarah: we want to recap our top story before we go. french investigators say the copilot of germanwings' flight 9525 deliberately descended the plane before it crashed in the alps on tuesday. he has been identified as 28-year-old andres lubitz -- andreas lubitz. sumi: relatives of the victims of the plane crash have arrived near the site of the disaster. they were taken to the site that is closest to the inaccessible crash site. move concept, the parent company of germanwings -- lufthansa the parent company of germanwings, provided planes and buses. sarah: thanks are tuning in. stay with us. n8 churchill

the euro stoxx 50 index up front about .4%, and the euro trading at a bit more than $1.11. >> thank you very much for that. >> indonesia is preparing to go ahead with the execution of two australian nationals in a move that has sparked a diplomatic row between the two countries. so far, a flurry of international appeals against the executions have been unsuccessful. >> the two members of the so-called bali nine were arrested for drug smuggling in 2000 five. they have arrived on the indonesian prison island off the main island of java. while there, indonesia says they are due to be executed by firing squad. >> shortly before the transfer michael chan turned away from the prison gates after trying to see his brother one more time. yes trillion convicts have since been moved after a court on tuesday threw out their latest appeal. the two were arrested in 2005 for plotting to smuggle heroin. their imminent execution has sparked a diplomatic row. >> we think these two australians deserve to be punished, but they certainly do not deserve to be executed. that is our position, and i think right

when we talk about europe and this banner headline, which is the stoxx 600.n a global basis. on a global basis. copenhagen is up 30%. portugal is up 25%. check out some of these stock indices. the dax up 23%. these were the movers. take us back to some of the misery there has been on the greek index. 9.3% today. money is loaded every single day into exchange traded funds in greece. betting against greece, that is short interest. it is similar to that of france and germany. the banks are in a record low. when it comes to commodity, here is oil. let me just pull up wti. down 12%. down 10% in the quarter. you just heard from that discussion about potential supply. the stockpiles are right there in the united states of america. that's the oil. let me show you what is happening that has an impact in australia. iron ore, the biggest loss since 2009. this is over five years. let me show you the chart over the year to date. down 26%. prices are back down towards 2004, 2005. this is the fifth quarter of losses for iron ore. the peep reduction of steel in china will pe

and a whisper from an all-time high, stoxx 600, starts 0.4% from a record high.things we are watching this morning. i am excited for the market open. i know someone else, caroline hyde. caroline: just a few moments, are we complacent? that's what people are talking about. a ticking time bomb in greece is what a capita group is saying. eric nilsson calling it ended game stop. they could slip out of the eurozone into chaos if they do not make a u-turn. meanwhile, stocks opening pretty much flat. ftse pretty much flat, 0.25%. last week, we close at values that take the global equities to highs. $68.4 trillion is the value of global stock

euro stoxx 60 futures up. dax futures up 52 points.aroline hyde for your market open. caroline: we are likely to end the week on a high note. this will be your sixth straight week of gains on the stoxx 600. ftse up. similar moves and france. this is the longest winning streak for european stocks since june. all of this on the back of ecb action. we are seeing basically the concern about a rate hike in the united states not

the stoxx 600 already at a 7.5 year high. most of the industry groups are rising, led by insurers.is following earnings results. you told us earlier about the deals taking place late last night abbvie swooping in to buy pharmacyclics. these are the receipts. johnson and johnson, up right a quarter of 1% at the moment. betty: thumbs down from abbvie shareholders. we have been monitoring that news conference with mario draghi, taking place. speaking in cyprus. draghi revealing details of the central bank's stimulus plan. he noted there will be no inflation given the drop in oil prices. olivia sterns has all the latest headlines. but we know now about stimulus. olivia: draghi announced stimulus. now we need to get some of the meat on the bones. so many questions going into this. when will asset purchases start? they will start march 9 on monday. the purpose of renting all this money is to try -- printing all this money is to try to fight inflation. they see zero inflation in 2015. we thought inflation would grow by about 7/10 of 1%. we have a new growth forecast for 2015. they see it

the industry group that has led the stoxx 600. european car registrations are up 7%. vw you saw their numbers for the month, up 11% three germany and spain, spain is up 20 per -- 26% in terms already straight. vw saw their registration at 11%. i cannot talk long enough to get renault open. the aussie rba acknowledged they have to do more with the rates but they did not. the need for patience. the dollar is a little skittish a little nervous. how desperate is the dollar? you have a couple of weak manufacturing numbers. the bloomberg surprise index is the lowest since 2009 at combined with the bart chart which is inflation expectations -10 year. ten-year inflation expectations, they are not negative, they are around 1%. desperate times for desperate measures. your fx trading. do you want to shave a little bit before the statement tomorrow night? jonathan: manus cranny. thank you. happy st. patrick's day. renault opened higher by a full 0.25%. japan keeping regular -- record stimulus unchanged. kuroda cannot rule out a dip in inflation below zero. from tokyo o'brien, gre

a look at the futures market getting absolutely -- euro stoxx 50 futures up i 1$. dax futures lower by 170 points. features indicating a lower market open. manus: we have got mario draghi speaking later on today. new jobs. uk retail sales will be out later on. politics and growth are the two key. issues. geopolitical issues in the gulf region 2.4 million barrels of oil a day pass through that tiny distance at the tip of yemen. if there is an escalation in the yemen dispute, what issue will that bring to the marketplace? now the philadelphia semiconductor index down 5% yesterday. we are seeing a big move in that stocks. you do not often here -- we talk about the semiconductor but it is a benchmark. it tells you what is going to happen in tech land. and the chip makers. so that is one of the big thing spirit you. kate retail sales will come out later on -- uk retail sales will come out later on. that sets up some pretty important statements. tech was one of the biggest issues of the day. the as they cast the biggest one-day move in almost 11. s&p, you had a move down

let's have a look at one of the biggest on the stoxx 600. they are cashing in.amily is saying they are selling 12 million shares for 1.5 euros each. this came from goldman sachs, the sole book runner for this. the family is cashing in a little bit and sending the stock lower. the big one to look for is a smaller stock. it is off by 50%. cairn industry -- energy. this is about indian tax authorities. they say they want interest and penalties. this all has to do with transactions made in 2006-2007. cairn says they will dispute that. these are the key movers today. anna: thank you very much. 32 minutes past 8:00. shares are lower for russia's second-biggest lender. it deals with both western sanctions and the high lending rate that was meant to stem the decline of the ruble. joining us now is the chairman and president, andrey. thank you for joining us. great to have you in the studio. let's talk about the interest rate environment. interest rates in russia are 15%. there will be a meeting to discuss the rates that have been volatile, as of late. where would you li

the stoxx 600 at the highest level since july 2007.oves in crude and euro-dollar worth speaking about as well. euro-dollar touching a 12-year low overnight. shanghai hitting an august 2009 hi. premier li said he is ready to act. there is the move in nymex. there you see the move in the shanghai overnight. euro-dollar comes back by 0.4%. a stronger euro this morning. mark barton over at the touchscreen. >> holes in one's to change the terms of its deal with lafarge. lafarge, the french company, has said today it is willing to consider revising the share exchange rates in that deal. holci is prompting some investorsm to say that the swiss company should call for a bigger stake in the new entity. both shares lower. lafarge is performing worse, down by 4%. h&m, you know the company. the number two clothing retailer in europe. shares up by 2%. february sales increased 15%. we were anticipating a gain of 12.6%. the shares hit a record 365 swedish krona. that was on march 2. we are not far from there. about 16 swedish krona shy. siemens, shar

stoxx 600 gaining 0.1%.look at a breakdown of what is gaining, industrial companies are offsetting some of the declines in energy stocks. among the stocks that are moving on corporate news, salvatore ferragamo reported better-than-expected earnings for 2014. having a little bit of the impact on ftse in italy. ftse flat. currencies in, we were speaking to steven of hsbc comment saying the 10 year german bond yield makes no sense and will have to go up. when you look at the tenure from the u.k. and the tenure german bund that says it all. are the most pressing risk? -- are they mispricing risk? an exclusive interview with the jp morgan chase chairman, that is coming up at the top of the next hour. to tweet or not to tweet? our twitter question of the day should leaders tweet more or less? you can tweet us hashtag #thepulse. @guyjohnsontv, @flacqua. ♪ president obama: i do not physically tweet in general. there are times when i am responding, a particular issue and we are trying to get something out. i will get

euro stoxx 50 up 1.5%. the german factory orders did little to quell the market. let's get to caroline. >> 20 seconds in, how is equity markets shipping up? we are tentatively higher ahead the ecb, the bank of england named its central bank frenzy today and economy frenzy. china coming in setting its lowest target in 15 years for growth. they say we will aim for 7% how will that affect commodities markets going in. they realize they cannot put growth ahead of everything else. 2/10 of a percent higher and france and they're waiting for the dax to open always a bit slower in the morning. the euro focusing on what is moving ahead of the central bank and later today mario draghi will paint us a picture of that 1.1 trillion euro stimulus row graham. what will he be buying and when will he be buying it. they're down 2/10 of a percent and the euro has been falling for six straight days now. we are currently at one dollar 10 -- $1.10. after that we are going to 0.9. we will hit parity next year says goldman sachs. let's have a look at gold, a little bit flat ahead of that

manus: it is really aggressive back-to-back declines on the stoxx 600. a couple of things that just caught my eye. deposits are at a 10-year low in greece. in february deposits dropped by 5%. 23 billion euros were pulled out of greek banks. you are reaching that break point in greece. they have to decide what they are going to do in terms of their plan. it has to be robust. equity markets have a little bit of a jump this morning. let's see what is driving our markets. the results of the tragedy of germanwings is forcing many of the international carriers norwegian air along with end zone jet to have two people in the cockpit -- easyjet to have at least two people in the cockpit which is the u.s. style. let's go to some individual names we're keeping an eye on this morning. commodities. nymex giving back some of its 17% gain. down 1.8%. i think why are they absolutely obsessed with crushing the situation in yemen? a part of it is to do with their own population and where the population is dominated. brent down 1.5%. gold just below $123 1,200 a barrel lev

the stoxx 50 is fractionally down. let's see where we're seeing the movement. you can see ftse is down fractionally. germany and france just below flat. italy is managing to eek out a slight gain. this comes off two days of strong returns for european equities so we're finishing with a little bit less wind in the sails. let's dive into one stock in particular. thomas cook soaring 15% after chinese fosun international snapped up a 5% stake for under 100 million pounds. the group said in a filing it hoped to raise that stake to 10% although it does say it's not looking for an all out takeover. let's move on and look at bonds. as we were just talking about, the u.s. ten year yield is now 2.1%. we saw a bit more yield compression on the german ten year. .3% following comments yesterday but most action in europe italy, spain, portugal which today are hitting record lows. 1.28% for the italian yield. greece is the exception to the rule and yields remain elevated. the euro has seen a lot of action for those people that said it's already priced in quantitative easing.

the stoxx 600 almost at an all-time high. good luck for the rest of your day. awesome weekend. ♪ guy: cementing a deal. lafarge and holcim said their merger. running out of time. greece under the gun to submit a concrete plan to speed up the bailout talks. good morning to our viewers in europe, good evening to those in asia. a

highest it's been since 1999 and the euro stoxx 50. so europe was a bright light this quarter. asia and china is a bright light. the u.s. is down. that doesn't mean the u.s. is closed. the pipeline is rebuilding. we'll see momentum there as well. i do want to mention that of course the funding ecosystem has been the strongest we have ever seen it so we shouldn't take the u.s. being out of the ipo market as a reflection of no transaction ordeal flow in preipo companies. private capital is he immensely strong there. they have 10-1 on every other nation in terms of private capital being able to invest before preipo and that's a lot of activity in this quarter. >> let's talk about that weakness we have seen in the u.s. in the first quarter this year. what are the reasons for that do you think? >> the funding ecosystem is very strong. it's delaying the ipo. it will happen. but private funds, venture capital, private equity globally represented 50% of all pre-ipo companies. there's an abundance of it in the u.s. and there are are other factors, surely. health care, many of the bio te

we're looking at the euro stoxx 600 index up to date. >> of course but that out performance is less pronouncedat's the positioning at the moment in relation to u.s. equities? >> well overall in equities rather than just having a blanket overweight we're trying to be more targeted about that. so we do prefer the long end of yield curves. we think that certain sectors of u.s. equity markets look good at this point in time. >> any in particular? >> cyclicals we like and some in the financial sector we think have been beaten up quite enough and offer some value but you compare it to the european story that's where perhaps the cheap evaluations are and perhaps more tuns lie. >> thank you very much as ever for joining us. head of macro strategy. >> let's take a look at top stories at this hour. an analyst is prediking apple will hit $1 trillion market cap within 12 months. he cites the launch of the apple potential for an electric car. the stock price at around $127 values the pane at around $744 billion. quite the call here. >> i think of interest to me on that note is particularly what he is sayin

you look at the euro stoxx 600. if the eurozone recovery is as strong as the stock market suggests, should the euro be this weak? >> ting goes hand and hand. i think the sing l, greatest trade we've seen is when qe is on by the equities of detonation. we saw it with the u.s. japan, and now europe. i think that's probably the easiest money can be made in the market is go along the dax because qe is going to continue in europe for at least the next six to 1 month s2 months. so yeah i think those go hand and hand. >> looking at the fourth straight week of losses for the euro versus the dollar. we'll hit the pause button there. more coming up in a bit. >>> more on the show also on greece. the greek finance minister telling cnbc he's not a liability to his government. find out what prompted this testy comment right after the break. opportunities aren't always obvious. sometimes they just drop in. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with

euro stoxx 50 up 1.5%. the german factory orders did little to quell the market.ne. >> 20 seconds in, how is equity markets shipping up? we are tentatively higher ahead the ecb, the bank of england named its central bank frenzy today and economy frenzy.

scarlet: recent gains after the stoxx 600 number last week and the days before that cap making new sevenyear highs, so you're seeing the stock 600 falling by the most in at least two weeks because of the ecb rate decision and mario draghi's news conference. will the focus really be on the technicalities of qe and release -- reinstating the greek debt waiver so they could use their sovereign bank greek holdings as collateral. in the meantime, let's get some individual names -- vivendi saying it plans to return about $6.4 billion to investors, less than analysts anticipated. he also agreed to sell their stake in a company, vivendi accepting a 40 euro share bid. shareholders are pressuring a swiss cement company to renegotiate or reconsider a deal entirely -- that stock is down about 4%. this is all according to people familiar with the matter. right now, we are seeing consolidation before the ecb on thursday. erik: did hsbc passing senior management know the bank was helping clients they'd taxes question mark the man who blew the lid off the scandal says he can prove it. he spoke exclusive

the stock 600 -- stoxx 600 up. the swings continue.d between gains and losses every day since thursday. that's a seven-day stretch. the dow" down by at least 100 points. -- dow closed down by at least 100 points. it is quadruple witching day. it is less likely we will get an increase as early as june. that has left the dollar weaker. the dxy index down 2.1% this week, the worst weekly decline in three and a half years, going back to october of 2011. the euro is slowing. crude getting a bounce back as the dollar weakens. we are still near our six-year lows. stephanie: thank you, scarlet. astrazeneca may be one step closer to its next blockbuster drug. the british pharmaceutical company is developing a drug designed to extend patient's lives after a heart attack. the drug passed its second trial with positive results. will this be astrazeneca's next bestseller? i will ask the company's north american president. paul hudson joining us now. what is the next big thing for a.z.? paul: in the last year we've had a record number of approvals.

it showed the euro stoxx 50 going that way and estimates since 2012 to be fair going that way.ion posed by me was putting -- aside, do earnings need to pick up to warrant the 15% rise we have seen in european stocks this year. >> 5%. it has been a big driver of that. we are expecting upgrades to come through with it. what we're all looking for is key to a sustainable rally. some recovery in the underlying economy. it would drive demand higher. with markets having done what they have done even if you exclude the exports, the economic data that we're seeing the e.c.b.'s -- about raised expectations for growth in 2015 and 2016 is suggestive growth may be starting to come through. >> interesting for you as a stock picker you work at the detail and you are having to think a lot about currency movements now. management tells us they focus on things, excluding things they can't control. you're having to focus in on that. >> it is so significant. every company is different. there is no one size fits all policy here. as an investors. everyone has a different translation, transaction exp

a look at the futures market getting absolutely -- euro stoxx 50 futures up i 1$.ower by 170 points. features indicating a lower market open. manus: we have got mario draghi speaking later on today. new jobs. uk retail sales will be out later on. politics and growth are the two key. issues. geopolitical issues in the gulf region 2.4 million barrels of oil a day pass through that tiny distance at the tip of yemen. if there is an escalation in the yemen dispute, what issue will that bring to the marketplace? now the

look at the stoxx 600 gaining 1%.hey are being pushed to their biggest rally since 2009. a letter the optimism about the central bank and qe. the ecb will have a check on the pound very shortly. that is our twitter question of the day. focusing on the u.k. election. and the twitter question of the day -- france of all checkout counter dollar. a lot of you have to -- first of all, check out pound-dollar. pound-dollar. a lot of things that some of you have been tweeting to us. it is that 148.50. ed miliband will be at bloomberg shortly. he will unveil his manifesto. that is at 12:30 p.m. keep your right here. it will be interesting. we wants to know if labour understands business. that will be the main question of the day. we will be back in 2. ♪ francine: welcome back to "the pulse." i'm francine lacqua. switzerland doagreed to buy -- the price is about 22% on the average share price. the european arm of goldman sachs said its compensation costs fell 20% last year. goldman international paid its employees -- goldman ha

the broad stoxx 600 again with two days of losses after closing on a record high friday.ting higher. everyone is waiting for details. how greek bonds that into everything to. wilbanks able to use the best collateral again? -- will banks be able to use the best collateral again? quite entered chartered rally more than 5%. does not plan to tap more. ing gaining 1%. former u.s. financial unit. fresno down for and 11 -- 11 say in 15. full-year results that were shy of analyst estimates. leading miners lower closing almost 2% on the day. we mentioned this earlier, the euro under the pressure before the ecb announcement tomorrow. now trading at a 1-10 handle. services index showed his appointing beat as well. the next level everyone is looking at is one is that a 15th. just below the level. do we continue to fall further? it is a big question here. the market may be increasing the short position before the ecb begins qe. the euro now trading at its lowest since september 2003. that would be an 11th-year low. >> thank you for giving us the london rep of. it was -- what is it lik

mark: yesterday, we saw gains for the year wiped away, but the stoxx 600 this year is up by 14%.ast time there was a disparity of 14% between europe and the u.s. if the european stock market finishes this year with a gain of 14%, it is its best year ever. caroline: interesting. french 10-year bond yields below 0.5%. we continue to see that weakening. mark: how many central banks cut rates? anna: more than 55%. caroline, thank you very much. more from caroline later in the morning. stay with us. ♪ . . anna: good morning and welcome to on the move. we are in the city of london and moments away from the start of european equity trading. let's start the brief. stocks selling drags the s&p into negative territory. the euro drops to a 12 year low against the dollar and bond yields hit the lowest level ever. in just a few minutes, mario draghi will speak about the effectiveness of monetary policy. the group formerly known as the troika arrives in athens. will they pry open the books? this is what we are watching. european equities are set for a small bounce. also, quite substantial loss

mark: when the stoxx 600 has risen by 16%, what is the reasoning in that?> the euro has fallen significantly. that is a big boost to the global exporters. many listed in europe area did qe is a significant boost to the economy. -- many listed in europe. qe is a significant boost to the economy. valuations were at the lower end with lower profit margins. i can understand why they european equities have done as well as they have done. despite the strength we have seen, i think they can make further progress. mark: thank you. thank you for joining us. from ubs wealth management. caroline: still to come on "countdown," an exclusive interview with the chief executive -- mark: we are watching thise swiss national bank's first decision. ♪ just because i'm away from my desk doesn't mean i'm not working. comcast business understands that. their wifi isn't just fast near the router. it's fast in the break room. fast in the conference room. fast in tom's office. fast in other tom's office. fast in the foyer [pronounced foy-yer] or is it foyer [pronounced foy-yay]? fas

the stoxx 600 rising, led by automakers and auto-parts makers. the biggest advance in 2.5 weeks.y about to close the first quarter with a 23% jump. that doesn't shrink to about 10% when you convert it to u.s. dollars. weak euro a reason the dax has rallied. greek stocks have finished higher. alexis tsipras will be addressing lawmakers in two hours on the progress of talks with creditors. that should be interesting. the backdrop is liquidity and accommodate a central banks, whether you are discussing the fed or the people's bank of china or the european central bank. helping to support a global equity rally. the exchange traded fund that tracks chinese stocks, it's at its highest in almost four years following dovish comments from china's central bankers. the pace of economic growth has fallen too much and the government can do more to support growth. he says china has rented act with interest rates and "quantitative" measures. the dollar has stabilized with the euro under pressure as the greek debt talks continue. the dollar index higher dollar-denominated commodities are moving

manus: it is really aggressive back-to-back declines on the stoxx 600.that just caught my eye. deposits are at a 10-year low in greece. in february deposits dropped by 5%. 23 billion euros were pulled out of greek banks. you are reaching that break

the stoxx 600 7.5 year high. that is where we closed yesterday.go further, so says wayne bowers. he is head of investment ceo of the european element. almost $1 trillion of cash to

it is the fifth-worst performer on the stoxx 600 banking index. for banks have fared worse and they are all greek banks. when it comes to regulation, investigation, shaking up the bank, investors have been looking over the corner at ubs, which is totally shaken up. shall we get to hans who is focusing on this? we saw this coming. we knew it was coming. is it a big shock that brady dougan has had to leave at the end of june? it has been something that has been asked about for even a couple of years. i interviewed him at the beginning of 2012, and even then, there was talk, are you going to keep your job? he managed to hang on for three more years from then. >> that is what is remarkable how long he has been able to hang on through the financial crisis. he was only ceo that lasted throughout the entire financial crisis. in a way, it is remarkable that he lasted this long, given all the challenges. not all of them his making or solely his responsibility, but he was put in his position to lead a bank through a financial crisis and clean up litigation

the stoxx 600 will rate -- will trade up to 450 by the end of this year. 550 in 2016.cally in london, they have a target of 7700 for the london market. get this. citi are calling the ftse 100 40% higher going into 2016. why? because it is going to be a dividend story galore. all around the european map. that seems to be the re-rating for them. bond markets continue to see their yields decline. as i suppose the enthusiasm for marriott draghi's conviction that came through yesterday trades to the markets. u.s. treasury bonds, however, it is job state. that -- jobs days. 235,000. average hourly earnings. are we beginning to see the beginnings of wage inflation? at 12 months of job creation above 200,000. that is the kind of pace of job creation in the united states we have not for near 15 years. now, treasuries, the last time we had jobs report, they dropped by .8%. the biggest one-day move since july 5, 2013. will they lose again? we wait to see. two questions you need to ask yourself about the currency markets. a, how quickly can the euro make parity. or is quantitative

the stoxx 600 has rallied 17% this year, leaving the index just 1% short of an all-time high. eu pushes greece to make more reforms. leaders meet again in brussels. time is running out. and a morning of dealmaking. the $40 billion merger is back on. holcim and lafarge salvage a deal. they are three things we will be watching this morning. i'm looking at futures markets a little bit higher. manus cranny is joining us for our friday market open. manus: you sound very excited. that is because we are 1% away from an all-time high on european equities. it is only march. goldman says they are not the only ones to be shy of this move. the best since 2009. denmark, portugal, and germany, all up more than 20%. go to bloomberg.com and go to the bart chart