Remy Cointreau’s Key Market Is China: Rundle

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June 5 (Bloomberg) –- ETX Capital Head of Trading Joe Rundle discusses Remy Cointreau earnings, the ECB policy decision and today’s stocks to watch with Anna Edwards and Mark Barton on Bloomberg Television’s “Countdown.” (Source: Bloomberg)

With joe randall.

Thanks for joining us.

Remy cointreau reported numbers earlier on today.

You said ahead of these numbers everything is about china really.

They have been struggling against that crackdown by the chinese government on gift giving.

What have we heard today that tells us anything new?

It is all about china.

Nothing to do with europe.

All growth is driven by china.

I think the problem they are having with this crackdown will iron itself out.

It is fairly deep in china.

I was in shanghai a couple of weeks ago.

They are very highly placed in a lot of shops.

I think it will ride out.

As soon as they get that right, the stock will carry on and probably go down about 5%. you're not giving up on tesco despite yesterday's slight beaten -- it was still a negative.

There is not a hope for a plus figure any time soon, is there?

I think they have some deep structural problems but they are addressing them.

They are moving more into the convenience stores.

Their sites previously has been pubs.

They completely changed theiring.

Accept lower margins in the u.k. and this is probably food price inflation.

The next few quarters i think will be bad but it represents good value and pays a good dividend.

What do you make of all of the u.s. takeover -- a lot of it motivated by tax.

We have been covering this story around smith and nephew this morning that medtronix might want to buy it.

It looks like this is again about taxes.

Is this something that we're going to see a lot more of throughout the year?

I think the government got their tax policy right in the u.k.. they are attracting business into the u.k. and that is good for u.k. p.l.c.. will it attract a load of political issues as we saw with astrazeneca?

I think investment in the u.k. even if it is just for tax reasons will benefit the u.k.. i think it will on until someone else reacts and cuts taxes elsewhere.

The e.c.b., the big thing of today.

Let's find a new angle.

Give me a new angle.

His favorite one is if you were mario draghi, what would you do?

I would carry on doing exactly as i have.

I would talk a lot about doing stuff and not actually follow through.

That is dangerous.

You so many times with i'll do whatever it takes.

Three times?

It has worked.

Central bankers' tools really son-in-law their credibility.

He does have the credibility.

The program to drastically reduce interest rates.

I think he will do that today.

The last rate cut we got from the e.c.b. was a real surprise, wasn't it?

I think we're going to have a rate cut today.

That won't be a surprise.

I think he is going launch some form of q.e. but it is going to be in a typical e.c.b. fashion.

Incredibly complicated.

Not actually workable.

And never do it.

And never do it.

Rather than it being black and white, will we get q.e. or won't we?

Might it be a case of we sort of get q.e. ? and the markets react in what way to do?

I think it will react in a positive way.

He is going to come out with a big announcement.

And then it won't be needed.

Thank you very much for joining us.

This text has been automatically generated. It may not be 100% accurate.


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