April 29 - Tuesday’s a big day for banks with Deutsche, UBS & Lloyds reporting in tough conditions; and, will tomorrow’s euro zone inflation number boost the case for an ECB rate cut?
-- is -- big day for European banks are going to show UBS and -- reporting -- Q1 earnings Deutsche Bank's pretax profit. Expected to full Obama's 10% to one point seven billion euros. It's identified more capital and cutting costs -- its two key issues for 2013. UBS is Q1 profit seen down 42% from last year due to higher costs. The median full cost from analysts is for a net profit of 621. Million Swiss francs. And always will be fracturing in a billion pound barely into its profits off for a deal to sell 100 sell hundreds rather of its highest tree branches to the top bank fell through. -- -- sounds Richard Honda says the climate for -- and the -- of banking sector remains tough. We don't have found interest in whether this is gonna return trip. Becoming an -- stock and any any news on a return to dividend depending on the strength in numbers. But generally speaking banks are in Lou -- a difficult price of being encouraged to minimal. Walsh at the same time building up their capital position shy whilst we have Saudi stagnant does that at twelve economies is a great school price for the banks to pay. Was on the earnings front oil major BP reports Q1 the sale of its 50% stake in TM KBP to rosneft. Expected to show up in its results profits full costs of three point 85 billion dollars down 30% on losses four point 65 billion. Due to reduced reserves and production. A -- day for European economic data starting with Spain in the recession grinds on the pace of contraction expected to have slowed. To my personal point 5% in Q1 from minus -- point 8%. At the end of -- to -- the annual rate of decline seen quickening slightly to 2%. In -- unemployment -- ticking up to eleven point 7% in March from eleven point six in February. With a new government in place Italians will be hoping for an ease up on the austerity agenda -- -- -- says that's a real possibility. We sat in the united. Relaxation sums of austerity measures. Around a lot of the other eurozone countries say a Spain Portugal to have you -- -- that -- of relaxed that around that targets inside. Judging by the language coming outs of this parliament scifi does seem like there will be some sort of relaxation and Italy. How far we go towards us and at Berlusconi's more populist measures difficult to judge. The jobs crisis scene wasn't across the Arizona with -- unemployment predicted to rise to twelve point 1% from 12%. Eurozone inflation seen slowing again in April boosting the case from the ECB -- -- later this week. Inflation predicted to come in at one point 6%. Well below the seabees -- the target of 2%. The employment situation in the Euro -- power -- Germany that holding up pretty well for now jobless rates in holding steady in April 6 point 9% consumer confidence. Also set to remain firm holding steady -- lofty five point 9% from me that's our roundup of choosing ski events I'm so hopeless.