Nikkei, first time in 20 years they hit that spot. Chinese shares also getting a wind of productivity this week as we see mainland investors crash into hong kong as well. Clearly they are on a bit of a role when it comes to equities. Yesterday it was all about the factory industrial reduction looking pretty rosy up half a percentage point. Just a little moved to see how we are doing, generally it is flat against the dollar. Interesting as we suddenly see a little bit of relief into what is coming out of varoufakis lips. He seems far more conciliatory when it comes to their negotiations with europe. With the dollar lets look at it on the week, because we are up on it comes to the dollar, up almost 2. 7 . The first weekly gain in a month. Refocusing and we will still see that disparity in central banks. In europe we will see stimulus aplenty and we are still continuing to expect rate rises later this year as the dollar drives higher. The u. S. Treasuries an interesting move, just down a little bit today and basically back flat areas we have seen a 10 year borrowing costs, the biggest weekly lost the u. S. Treasuries in a month. Oil prices go up so we see the potential for inflation and eight selloff in u. S. Treasuries. Money coming out of germany a little bit, that is the optimism but greece with a bit of release. 11. 31 looking at 10 year borrowing costs, but it does seem that greece is inching closer to a compromise. But will they make it a selfimposed date to agree on those new reforms. Lets have a little look at some of the equities, Deutsche Bank actually rising as we hear they could be clearing the settlement with libel manipulation and manipulation of interest rates. The u. S. Regulated 1. 5 billion. The biggest retailer here in europe is the frenchbased up 2. 7 because french sales and brazilian sales are doing well for the supermarket chain. Theyre helping offset some weakness in china. We will be speaking to the finance head a little bit later, down 4. 3 . If youre looking at hayes numbers doing well on the permanent side of things. Slightly slower in the temporary unit but it feels as though this growth the have had is slowing ever so slightly. They expect strong operating Profit Growth for the fullyear and the second half slightly better than the first. Jon two minutes into the session, the ftse 100 is higher in the dax is up by 82 82 points. It is not just the rally taking headlines, i want to take the conversation further east because the moves in the chinese equity market have been nothing short of stunning. The shanghai composite and the hong kong hang seng have been 2008 highs. Some of the recent data may not leave you reassured. Lets get to bloombergs Stephen Engle they march on, closing above 4000 points, when does it end . Up 1. 9 for the shanghai composite index today, hong kong stocks have been on fire the last couple of days. Shanghai, this is the highest this market has closed since march of 2008. Chin jin closing today at a record. There is still some steam left in the market. We got some critical inflation data out of beijing today. We were expecting the disinflation to continue but it stabilized, the two rate cuts we got since november signed to work into the system a little bit, we have inflation the same as a february and march. Remember a couple weeks ago, the governor said they have to remain vigilant about the specter of deflation as the economy is slowing faster than they expected. Right now in asia, where are we going you go going . Most of the markets are green as well. We had japan and that benchmark index hitting 20,000 for the First Time Since 2000, where were you in april of 2000. It closed slightly down about 1 10 of 1 . Jon a market tote too excited about the nikkei, lets talk about hong kong, Mainland China has taken all of the headlines. We started seeing the money flood across from hong kong, do you expect that momentum to continue . It is interesting, all we have to do is bring up the volatility or the premium index. It shows the discount that hong kong shares to their mainland counterpart have been trading at. Then of course the relaxation of the rules out of china and the flood of chinese investors we have seen for the last seven sessions in a row. It included a holiday in between up about 10. 5 . It was up today but nothing compared to the last couple of days maybe a little bit of profit taking creeping in but this trend is continuing because that premium has now been whittled down to 24 . The traders and the analysts say as long as there is still that price cap differential there might be some room to grow for hong kong stocks. Jon thank you for joining us. Stephen engle joining us live from hong kong. We are joined by kerry craig the Global Market strategist great to have you with us. Lets talk about the premium. We can talk about the overall moves but you think there is some room there even with that epic rally . The rally has been going on for a long time now you are seeing their trying to find those arbitrage opportunities. It will eventually evaporate but it will take some time. At the same time you have the investors hungry for stocks. Jon we also see global detachment, the economics in china is not so much right now. This is a story about market easing and military easing. There is expectation of bad news being good news. Inflation numbers came out this morning and were a little bit better than expected but the number is still very weak it is stabilizing a little bit and will be a challenging year for chinese growth. People expect more easing from the peoples bank of china. Jon when you see a chart like this that looks like that how do you play this, bearish wages on a Shanghai Stock Exchange have premuch triple. We know the market kent state irrational longer than you can state solvent but there are moves in new accounts to trade these stocks. Can you bet against this . It is a tough thing to look at a chart like this and say that wont come back it is very difficult to say if youre actually at the peak until youre coming down the other side but i think there are moves from further evenings easing to support this and you also make some changes in terms of what Retail Investments can do at the moment this is all due to the fact that neutral funds can now exit the hong kong connect, if that gets expanded youll see more and more people trying to take advantage of this. Jon we will talk europe. Yanis says the deal between greece and creditors will be struck before the month is through. Our exclusive interview is next and a little later on we will get a read on the u. K. Economy from the biggest recruiting firm. Then it is banks behaving badly the latest on two probes that will cost their biggest lenders billions of dollars. Jon about 13 minutes into the trading session, extending those alltime highs in the euro is a little bit weaker. Down by one third of 1 lets go to greece, or lets talk greece. The nation has secured a bit of emergency funding but it remains far from an agreement with its creditors. He says the deal will be reached before the april 24 deadline. That is what he told manus cranny and manus cranny joins us in paris. Why did he choose to speak now . Manus he has been attending for years long before he became a Rockstar Finance minister, i hassled him on a number of occasions. The issues, we are focused on numbers, youre talking gloria and he will help you put structures in place and what varoufakis is going to do is i just paid christine lagarde, we will work this out and hoping to get a deal by the 24th. When it goes to the primus or, is it realistic to reach 1. 5 this year . It is as long as this has stabilization of the economy and particularly the creation of the animal spirit as they say, then it is highly reachable. We need animal spirits but tax receipts are ahead of schedule. And every economy needs a bit of fair wind as well. He is talking a good group, interesting that the clips of video you showed earlier was separate, but his boss went to russia the day before. Jon a lot of people asked why considering they still dont have the money they need. Great work yesterday, thank you very much for joining us, get out there and enjoy yourself. We talking about greece and a deal potentially april 24 7 billion euros, that just about covers some monster ecb bond redemption and then back to square one. This certainly is going to be a limited deal you will have a resolution, but will it solve the problems that greece has . Not really. You will never get that msu see the debt pile. Weve seen that in the past, it needs a huge amount of productivity to get through that so any deal that does come will be an ticking of the can and you will be back in a story where you have to repeat the process the longer that greece stays at the table, the more likely to reach a resolution. Jon at whatever is happening in greece is their problem, it is not spilling over to eurozone bond markets. The german curve, things are getting ridiculous. Just before qe started everybody said it was priced in and it wasnt. A month later to see the curve flattening. Negative all the way to yesterday, minus 0. 2 is what the ecb can buy out, too. Even goes below that. Can probably go further from here. This is all about the market surprise at how much impact the ecb had when it started. Everyone knew what they were going to do what see the same thing reflected in the euro they would go from a negative to a positive rate in the markets have gone below that. All or they know there is enough institutions that will have to buy these bonds that they will make money that way. Jon what is the deal with j. P. Morgan Asset Management . Not just germany but even the war chinese twoyear, the swiss, 10 year auction, negative yield, how long can this go on for . We will be in an environment of low yields for much longer. They pretty much said as much because basically the forecast did not even get to the 2 inflation target. We know they will continue it if not anything else. It is just going to push investors into risk assets and the corporate and highyield bond market. Jon i could be flip it about it and say you buy everything. If i gave you the choice, where are you going . Still a tilt toward equities. I think the valuation argument is so key. We know they have moved significantly, the u. S. Isnt looking as attractive as it once was because theyre so concerned about the growth but for me there is a much bigger upside. Jon thank you for joining us the qe trade. Equity markets record lows, it keeps heading south on the eurodollar. Still to come, the u. K. Recruiter hayes posted numbers this morning and we will speak exclusively to the finance director, the stock is just trading off an eight year high. Back after this break. Jon welcome back to on the move. Lets talk recruitment hays expect strong operating growth in the year. Shares are as much as 5 lower. Were joined exclusively by the finance director, great to have you on the show. Markets not happy. I dont read anything yet, we have 15 countries that did more than 10 and we have strong growth in the u. K. , we are about 1 below consent which is within the rounding. If you havent outperformed the numbers you may always have a little adjustment in the short term. Jon we put a chart up off an eight year high, when i get into these numbers i see strong growth in the u. K. Still, u. K. Still performing the start to get what we call a dirty quarter ahead of the election . Generally with elections what happens is the growth slows down a bit. And we have seen that, so in march there is no doubt in the public sectors, the key part is it is too late for them. All the regions grew across the u. K. And interestingly in the city of london which has been the weakest market for several years we grew by 8 which is the best performance in four years. There was always a positive. Jon on the Positive Side there been some serious fees, you expect that to continue . It is a very long up cycle. I dont see any situation when they continue to grow. Because fundamentally what drives it is people changing jobs. And people in england have been in the finance sector. If they have found it and they wont change or they are not going to change. That will continue. Jon on operating margins, last year a margin of 3. 9 in the company was still doing well but that was a third of the peak. We dont tend to focus much on what is the margin versus turnover, we focus on how good we are and that Conversion Rate is 20 . The big positive last year is that Wage Inflation has started. We are seeing Wage Inflation of around 2 . I dont think any client will wake up in the morning and say we love you, i would like to pay you 10 more for doing the same work. So what you need is Wage Inflation, strong Economic Growth and then what tends to happen is copies dont match what they pay biggest want to get it very quickly. In the shortterm, Wage Inflation helps and in the longterm we might well see margin improvements. Jon at the bottom line, operating profits for 2015, your view versus the consensus view actually your view is below the consensus in the market. We have had this discussion before, the beauty of the business is that we have limited visibility and no revenue stream, we have a quarter to go. What we said today is we expect to make Something Like 165 million. We might do better but that is where we expect to be today. A little bit of trimming and more importantly that would be more than a 25 underlying increase in profitability, that is pregood. Jon election year, a couple weeks away. Are you worried more about that what could potentially be happening . More between now and the election. We see it every single time. All you have is decisionmaking slows down a bit of the real question we discuss is do we have a decision and can we make sure we are not going to have a hiatus . It is always likely there will be a little bit less growth, but sitting here with the knowledge i have today i expect to be sitting on your show in three months time very its not that the business has slowed further it will not accelerate back to 10, 12 and 14. Jon he will be back in three months, still to come we will talk tax, samsungs newest phone launches with High Expectations and why the apple watch is in store. Jonathan good morning and welcome back to on the move. Im Jonathan Ferro. 30 minutes into your trading day. Lets bring you a picture of the markets. The ftse 100 up by 0. 4 . The dax pushes higher. You are looking at the eurozone equity markets. Green across the board. The stoxx 600 extended into a record high. Euro, a little bit weaker. It is the qe trade all over again. Two tech titans go head to head today. The apple watch is in stores. Samsungs newest galaxy phone goes on sale as well. Here with more is caroline hyde. The usual frenzy, this is what im surprised about. I dont see it this time in london. What is the story . Caroline you are exactly right. There isnt much of a queue in london. There wasnt much in china. No one stood outside, maybe just 14 people lined up in beijing. In an area, a region, that apple calls its most important. Tokyo got a little more excited. There are about 70 people gathered there. 100 outside the store in sydney. But there isnt a sudden race to get into the shops because they are selling them online. Today, you can try it out, by appointment, you can try it on. See which one of the three variations you actually want. If you want the sports style or the more luxurious addition which of the many straps you want. This is the new way in which apple is trying to sell its new device the first new device under tim cook. It is the smart watch. It has a hefty price tag. It called could cost from 349 up to 17,000 if you are going for the gold version. But it doesnt have this furor, these long lines that we saw with the iphone 6 that recently went on sale. You are only touching it, it doesnt actually go on sale until the 24th of april. Until then, you can preorder online. Interestingly, the sales arent as much as we expect from the phones. Piper jaffray think that about 300,000 preorders could happen in the next 24 hours. People might be going mad on the internet. 300,000 to be bought today online in preorders. One million sales over the next weekend. Sounds like a lot. Compared to the iphone 6, 4 million preorders in the first 24 hours. Over the first weekend, more than 10 million devices sold rather than one million expected for the apple watch. This is a new genre a new piece of kit. Theyve got to explain to us why we need it. Jonathan classic day of samsung versus apple. What are we expecting from samsungs new lineup . Are we expecting seller sales . Caroline we are. Theyve decided to pit themselves against each other on the same day. You can go to the Samsung Store touch, feel, and walk off with the device today. You dont just need to preorder. Analysts are pretty euphoric about the sales. They think 55 million could be sold over the course of this year. Potentially could be a victim of its own success. The chief executive saying, demand might outstrip supply of the s6 edge with the biggest screen and the wraparound screen. It could struggle to manufacture the flexible screen. They are expensive. If you are looking at the price point, you could spend up to 17,000 on the apple watch. The actual Samsung Phone almost 1000 is how much the s6 edgewood cost you. That is a lot of money for a phone. Yes, it is stronger faster, meant to give you better pictures, battery life as well. You can charge it wirelessly. Samsung pay as going to be pretty novel. You can go into nearly all stores and pay via your phone. They go on sale in 20 countries. The apple watch is on sale in eight countries. More countries could get hold of the samsung, but we could see record sales. We have seen samsung move in that euphoria. It has gone up 18 billion in terms of its market value. Jonathan caroline hyde, great work. Lets get the tech investors insight. Hussein congee joins us now. We will start with samsung. Talk about the hardware and the bottom line as well. The hardware is developed. Will it help the margins . Hussein it has taken some cost out of the business because they are using their own chips. That should help the margin. The biggest affect is the phone is more expensive, just like the iphone 6. They are changing the selling price. This is a company that historically did doubledigit margins. It dropped into singledigit margins. Analysts are saying they should be back to doubledigit margins. Jonathan [indiscernible] hussein that is the hope for samsung. This is a better