down 4.1% and contrast to soc gen which is down 2% and santander is down 2% unicredit down 1.2%. hsbc suffering a weaker day in the asian markets down 2.8%. waiting for a trade on barclays. it is slow to open up. ubs/credit suisse is on our radar after the weekend events it was down 60% moving to the big price. you see barclays is still not opening. that is interesting as we talk about the global banks in europe today. let's take a look at the u.s. banks listed in frankfurt. one story in the last session is the consolidation of the depo deposits we hear from the big banks faring on the back of deposit inflows with the silicon valley bank and first republic and other banks stateside. 4.1% higher for bank of america. the deepest for the u.s. banks in frankfurt in contrast to wells fargo down 1.3%. so, we are still waiting for reaction in ubs and credit suisse we will bring those numbers up on the boards to show you. in the meantime, let's get analysis from geoff who is in zurich looking at the banking contagion here thanks to swiss regulators and the target companies here in the he

to be fair, the bank unicredit performed well last year under him boosted by rising interest rates in euro area. many banks have benefited from that in the pay bump is probably one the biggest in the industry. there has been talk about his pay, but the performance under him as -- at unicredit is the underlying reasoning. francine: does it mean that ceo pay in europe more broadly is going up and how do they compare with wall street titans? steven: yes to the first question, definitely. all ceo's and bankers are expecting more pay after 2022 which is good for many european banks. they have been through a decade of low profitability because of the negative interest rates. those disappeared last year and that has given a tremendous boost for many banks who have reported some the biggest profits in over a decade. expect pay raises for a lot. i don't think it will be 30% for everyone but yes, compared to the u.s., they tend to have bigger pay packages though as we know, globally solomon has been three bit of a rough patch recently and has gotten a pay cut if i remember correctly. there you

soc gen is up 4% unicredit up 4%. let's get to joumanna for more she has been looking through the treatment of the cocoa and legal challenges and just the blowback of ubs >> reporter: what a difference 24 hours makes this time 24 hours ago exactly, we were concerned of the impact the deal on the weekend would have with the sector we had a very adverse reaction ubs was down 10% and ended up in the green by the end of the day. today is a positive sign that the european banking sector as a whole is starting off with the more positive footing. investors are, perhaps, less concerned than we thought about the possibility of some contagion risk they are coming around to the view over what happened with credit suisse and this is the word we have been using a lot is idiosyncratic. we have had issues across the pond it is unknown what will happen in the u.s. with what happened here in europe the read across is investors are parking to one side what happened at the moment overnight, we had moody's and s&p place the ubs outlook o

unicredit coming up more than 5% appearedbnp paibas of 4.5%.old the crisis and concerns around the european banking system can be put to one side? a couple of other stocks to check in on briefly. you are seeing optimism or kingfisher on a plan by back and thyssenkrupp also. plenty more coming up. this is bloomberg. ♪ >> we have a self induced crisis by irresponsible monetary policy. >> this is a problem with liquidity and confidence, not credit. i hope they see the signal through the noise. >> the argument is pricing and some kind of recession but the equity market is in denial. >> this is "bloomberg surveillance: early addition" with anna edwards and matt miller. >> are

unicredit down by nearly 8%.n banks today have been hit very hard by the silicon valley bank story. the question is why and what should we read into that. let's get more insight into what is happening here. let's talk about what has happened and the contagion that has come from it. european banks have been hit hard today. is that logical given what has just happened in silicon valley? >> yes and no. whenever you have something that happens to a financial institution, svb, even i had quite a particular profile, it was a large financial institution. when something happens, a failure of a bank that size and then followed quickly by another bank failure, it is natural there will be repercussions felt globally. is there anything specifically for european banks that we should read across from that? i think that the story for european banks will take longer to come out. we're looking at the fundamentals and there are plenty of challenges for european banks in terms of the inflationary environment. alix: where were those

raiffeisen ozone city unicredit and yandex and at the end of the issue i remember the exchange ratesday dollar 75 rubles. 47 kop. euro 80 23 and for now that 's all for me the photo of this incident all happened around midnight . the aircraft flew to tatarstan from samara. there were 35 passengers and three crew members on board. well, judging by the first frames, nothing, uh, serious happened. no one was injured, the plane received no visible damage, and nevertheless, the volga transport prosecutor's office began an investigation. in the center of social integration of diana gurtskaya , young artists are learning a new musical. there are children with special needs for health , everyone finds classes to their liking. dancing, vocals acting skills this year the center turned 5 years old, during which time more than a thousand pupils have revealed their talents. maria valieva talked to children and teachers. the main character of the musical, according to the script, they have to overcome a lot of obstacles , deceive the baba yaga, meet the goblin and the koshchei. and if you are merc

jeep morgan raiffeisen ozone city unicredit and yandex and at the end of the issue, i will remind youexchange rate today, the dollar is 75 rubles. 47 kop. euro 80-23. and for now, that’s all for me. roman thank you very much , immediately after the advertisement, i’ll briefly talk about some of the central topics of the hour, as well as our instructions on how to properly accept an apartment in new buildings. the world is changing quality invariably millions of people choose the warmth and comfort of the juice on the world how. buy from official partners at rage solutions.ru. get a free credit card for 120 days without interest. and we will refund up to 5,000 rubles. uralsib has prospects for everyone where you are only for you, instead of a thousand hints from sokolov, discounts and manufacturer’s quality on wildberries 38% earned by bcs customers eliminates the consequences of an accident on a heating main in vladivostok, pipes burst in the morning , about 30,000 residents were left without hot water and heat. boiling water, took out on the street and road police. the militants had

unfriendly countries was also included in western union goldman sass gp morgan raiffeisen ozon city unicreditandex . 47 kop. euro 823. and while that’s all for me , roman will briefly talk about some of the central topics for hours , militants of the kiev regime, fleeing from artyomovsk, the city is surrounded by russian troops, all escape routes are blocked , the only road. for where on the clock yar is completely broken, if the technique gets stuck, then will become an easy target for russian artillery against the pension reform are going on strike across france employees of nuclear power plants, workers in the gas sector, more than half of primary school teachers. today , the authorities will not come to work and the retirement age will be two years. in the bryansk region, they are investigating the circumstances of a night fire in a rest home , a fire that covered 1,600 m², according to a preliminary version, the cause was a short circuit in a cafe. there were no casualties. holy warm words on the eve of march 8, the fighters of the vostok group congratulated the women of the special forc

he has done a great job in unicredit, being optimistic when people weren't.e core and look at other things, it has got my attention. jonathan: over the last 10 years, optimistic when everyone was not. now he is like, slow down. tom: i am not going to mention the town he lives in. he's got a great life on the river. jonathan: his favorite coffee shop. sounds great. we've got to make that happen. we should join him. in his favorite coffee shop. lisa: he is hiding. tom: we should join him in his favorite brewery. jonathan: either. features on the s&p unchanged. lisa: keeping you up-to-date with news from around the world with the first word. in china, president xi jingping said the country will take forceful measures to support the development of high-end manufacturing. he spoke at the closely watched national people's congress. china's tech industry has been heard by u.s. trade sanctions and big electronics symbols are setting up more facilities outside of china. ukraine says russian forces trying to cut off the besieged city of -- the russian attack is prevent

one looks at those, you see positivity here it is perhaps an outlier when you look at the likes of unicredit. that bank in italy finding some positivity there on the general basis, it is rolls-royce manufacturer of weapons is enjoying themselves as wealth ll as the tech counte. the worst performers are the credit suisse stocks being a very important one for credit suisse being bought out by ubs 70% fall on the quarter. very interesting with glenco not enjoying the kind of positivity you would see from china reopening. interesting to note they are down 17% on that front very mixed picture the banking counter is one to have run away from as investors drive to the tech counters in the quarter. frank. >> arabile, thank you for the look at the early trade. >>> back to breaking news this morning. a grand jury in manhattan voting to indict donald trump this is the first time in u.s. history a sitting or former president will face criminal charges. arraignment is expected next week nbc's gary grunbach skrjoins us >> reporter: frank, two weeks from the day that the grand jury started their work donal

unicredit and italy up .6%. gains of .7 when it comes to the banking sector. that is after comments from isabel schnabel and ecb. they have not seen the debate -- deposit flight. h&m had a surprise beat and part of it is down to consolidating the secondhand shopping platform and what that means in terms of accounting. it is not reflecting in the price but again on the earnings front, a surprise profits coming through for the most recent quarter for h&m. gains of 7.5%. have seen the optimism reflected in other retailers. adidas up .9%. gains of 1.6% across that sector driven by the surprise beat profitability from h&m. francine: joining us now is nigel bolton, blackrock international. thank you for joining us. a lot going on in the banking sector there. the u.s. banking crisis may be mostly solvable. do you worry about something systemic in the euro -- the u.s. or europe? nigel: no. there was panic a couple of weeks ago and regulators have moved quickly to solve the problem. we do not see the same issues. people remember 2007, 2008 and this is a different circu

outlier has been unicredit which gained 30% on the quarter. doing fairly well. rolls-royce has been fairly interesting. of course, the war in ukraine has still helped their stock move higher. so, too, is some of the tech counters moving in lockstep with risk the worst performers in europe the theme remains the same a lot of these have been financials resources not moving up. the diversified minors have taken a trip down. perhaps not enjoying so far. china is not opening up yet. negativity across the board. guys >> arabile, thank you. credit suisse is the worst performing stock >>> with history of where stocks go from here, head to cnbc pro to find out. >>> in terms of data, we will get the latest on the eurozone in nine minutes time with flash cpi for march due at 10:00 a.m. cet. that is 11:00 a.m. cet investors are worried after german inflation declined slower than expected in march eu cpi and the largest economy increased at the pace of 7.8%. >>> the latest read of the fed inflation gauge is due today the core pce came in higher in january jumping 4.7% up fro

unicredit up .8% given the backing for their share buyback, and the broader banking index and sector in europe gaining 1%. let's see how things are playing out across the tech sector, alibaba a major focus as well. but also the likes of micron semiconductors. but also french banks, because you had this news yesterday around potential fines in total of around a billion euros, socgen, bnp paribas part of that punishment for allegations around tax fraud and money laundering. we will keep across that story. st micro, gains of .4% -- gains of 4%, prosus a major investor in tencent which is rallying on the back of news around alibaba. infineon gaining a little under 6%, the semiconductors rallying on the back of those results. from micron suggesting that maybe the lows in terms of blockbuster demand and buildup of inventories is coming to an end, the slightly brighter picture for the chip space. european ships makers are rallying on that front. francine: returning to the banking sector, letters in the u.s. are facing the biggest overhaul following the demise of banks, which has left invest

you saw the likes of unicredit shares up 35% at some stage.hat is the volume they are looking at and i suppose credit suisse is not looking like a viable option. >> i think specifically with creditsuisse, harris cited the cost and lack of transparency with the deal is the frustration point. we feel the plan to restructure the investment bank is cumbersome and costly than they expected if this was happening during a time when the other european banks weren't benefitting from higher net interest income and interest rate environment, it may be worth their while with the higher interest rates and what it means for the sector, it isn't a great c comparison it benefitted from higher interest rates and will continue to do so, but there is a question circulating in the sector if we have seen peak net interest income in europe and if so, where is the next leg of income growth? m&a? fees those questions are tricky as we settle into the higher interest rate environment and face the down side of the higher interest rates which is higher credit risk and cr

that chopper not in the financial system, and that should trigger deutsche bank buying commerce or unicredit-- you look at it, if you are a dear just, banking is a nightmare. the top five banks in the western all-american. as we spotted they can cause a lot of portage when things go wrong. europe has had this problem of being unable to have the takeovers because there are such strong rules stopping people, and tradition stopping people, stopping the french, the germans, and vice versa. it is much more likely if you look at germany, now they do think more seriously about combining deutsche bank with commerzbank, which among many things has all of those deposits which would give deutsche bank a degree of stability. it has had a bit of a checkered history in terms of the scandals it has got involved in. that is one side. the other side is why not open it up. if you will create national champions, why not look at the idea of combining things cross-border rather than combining commerzbank with deutsche -- the biggest most powerful bank in europe is bnp which does not give a great deal of satisfac

hsbc, unicredit and natwest all up on the back of this news. broadly across the sector gains of 3.3% across the banking sector here in europe the first human it's. you have seen losses of around 80% in the last two weeks. that is the picture across the banking space. there is really. whether it holds is a question. francine: switzerland's banking regulator says it is exploring a possible investigation into credit suisse after how top managers ran it for collapsed. the fallout from the saga continues to be felt across europe's banking sector with bank shares falling in european trading. let's bring in tom metcalf. after the steep drops on friday, things esteemed -- seem to be stabilizing but for how long? tom: it is definitely that rebound and breathing a sigh of relief aired the selloff on friday was something they could not read into fundamentals so it was purely sentiment driven. it goes to show you how nervous the market was. in the u.s. you saw the bounceback and that it has continued through. it's too early to say credit suisse is in the r

jonathan: he is now running unicredit. i do have say he -- i do not think he is coming back. he was the guy that really --. tom: is the one i believe that really brought in mr. hammers over to ubs. you wonder where the -- as well. jonathan: brian from morgan stanley is going to join us next. equity futures up 9/10 of 1%. we will touch on that in a moment. jonathan: equities are doing ok. positive on the s&p and nasdaq. the regionals doing ok as well. wicking up to the better equity -- wicking up to a better equity market. -- waking up to a better equity market. i am wondering what difference the incoming economic data is going to make in the conversation towards fed rate hikes. libya little bit more than a month is a sufficient amount of time for the fed to find out how much timing the bank situation has done going into the next meeting? lisa: can we look at the data with any reflection of reality, supposedly there is a light effect --lag effect. do you embrace of the weaker data and say that the other one will just get remedy? jonathan: if it is good, ignore it, if it is bad

it's about two hours ago, the data before entering the studio was -15 poe, for shares of italian unicredit not bad, by the way, two german banks. uh, the biggest fall and i think it's no coincidence it's all about now as the snowball starts spinning. yes, most likely. i 'm here about the realization of what is happening and hmm , what they say about this is amazing, here the speech was by the prime minister of georgia, i carefully. obviously, i follow this. and after all these events. i'm just one quote from it. he said that well, our government is not set up for war. at the same time, he said that the real threat facing our country. this is precisely the conspiracy plan that exists against our country. and this is the ukrainization plan. he said so. this is a plan for the ukrainization of the country, drawing it into the war. this is the main threat that stands and we are here as long as we are in power. he said bye. we are not here, it is we who will not allow this to be done directly absolutely. and. uh, he addressed, at the same time, directly to the european union, uh, and to these sa

shares of banks in europe and even in switzerland began to fall, including credit bank minus 14% unicredit dolce bank raiffeisen -7%, and this is just the beginning. so we wish. good luck. now, we are transported to georgia protests. tbilisi was inflamed, including those who fought on ukraine supporters. saakashvili was officially declared about this by the vice-speaker of the parliament, by the way, in the revolutionary ranks. we noticed saakashvili's son earlier at the protests in tbilisi, detained two mercenaries who fought in the so-called foreign legion in the armed forces. the ukrainian garnish itself is clapping, saakashvi. right now, they are allegedly dying in the hospital, where he was transferred from prison , scania reports with reference to the words of the ex-president of georgia allegedly. misha's bones are disintegrating and this causes him excruciating suffering, moreover, according to the lawyer of the eater of gastukov, and the surname is khachapuridze, the state. meshakov. it worsens every day and exactly 4 kg separates it from death. it's straight, answering the questi