Using tunable soft X-ray synchrotron radiation and a new-generation photoemission electron microscope with integral sample stage and microarea selector, elemental images and local XANES spectra have been measured. Given the present conditions (PM3 at BESSY), the lateral resolution was in the range of 130 nm with the potential of considerable improvement with high-brilliance sources (a base resolution of 25 nm was obtained in threshold photoemission). Measurements at the oxygen K-edge demonstrate that differences in the local chemical environment of the emitter atom are clearly revealed and can thus be used as a fingerprint technique for its chemical state and geometrical surroundings. By exploiting the magnetic circular dichroism effect it was possible to view magnetic domains and domain walls.