Total, both reporting profits of 2. 6 billion. Guy lets find out more. Will kennedy is he appearedare. Training did well and refining to ball. The oil sector is not looking to shabby. Will beating expectations by more than double which is not bad. Profit fell by 20 . What stands out is trading. Bp employs hundreds of people to buy and sell oil. When prices are lower, they can save money to make more bets. Francine we have bp and total. Who did better . Will total had the bigger, higher number but bp beat expectations. Bob dudley will be the happier of the two ceos. Guy the refining operations where does the Lower Oil Price leave that. That is a total story. Will total is the Biggest Oil Refinery in europe and when prices fall, you put more oil in your car. Refiners outperform. What youre seeing is the resilience of the integrated mobiles. Your upstream does not do as well but you get some of that bacteria are finding and trading. Francine if we have the oil in this range between 50 and
Indepth interview with intesa sanpaolos ceo, the head of italys secondlargest bank. He is on the hunt for acquisitions. Now i asked him about his potential partner. Carlo if you want to top the asian margin tap the asian market, you need a good brand. That is the reason why i am looking a possible acquisition of an International Brand. I am growing in such a way that i tonight not need to, an extra engine for my growth, but the strategic target could be to have an International Brand in order to tap International Diversification. Francine basically a brand name more than operations. How big does it have to be . Is it something everyone recognizes . Carlo there is a point on the total amount of Market Capital for the possible target, because the reality, you can have a wellrecognized brand that has a market cap that could be higher than all of my prior breaking Division Banking division. I want to have the control of this entity so the target should be in the range, my Banking Division
Dependent. Whats the appetite . Just over an hour to go until we get the results of the ecbs first auction. With expectations that banks will take up around 150 billion euros in loans. Investors cheer plans to float its plastic business, allowing the german drugmaker to focus on its crop sooiz unit. Thumbs up, shares of solar surge to the top of the stoxx 600 on reports that rand is eyeing a merger with the industrial group. Announcer youre watching worldwide exchange, bringing you Business News from around the globe. The central bank reassuring markets that rates will continue to stay near historic lows. The fed kept the phrase for a considerable time in its post meeting statement. Janet yellen noted the forecast hasnt changed much since their last meeting in june. There is no mechanical term of interpretation of what the term considerable time means. As ive said repeatedly, the decisions that the Committee Makes about what is the appropriate time to begin to raise its target for the
During their summit. The Vice President of the European Central bank says it is going to be a complete overhaul of the european banking landscape. Watch for murders and equities. Interesting. Thank you so much. Well get more on the u. S. Budget deal. In corporate news, youre watching and attacks. No big surprise here. Look at profit, look at sales. Significant challenges this year. Stronger euro diluting those earnings. King ofedly, still the fast fashion. We will talk about it later. Those Profit Margins are getting higher. Inditex opening one percent higher. Caroline, youre watching rbs. Set the drag the shares down. They are up by 1. 5 . Nathan bostock is going back to his old employer. Monthsse, it is just six after Stephen Hester, the chief executive tech problems last week. Concerns about pushing their own Small Businesses that they lend to into default. There is a lot to do and a lot to discuss on rbs. We have a lot of corporate news. We have everything that relates to macro. We
Truly miserable quarter on friday. They rallied because theres a consensus with central bankers keeping rates low or taking them lower, the second half of 2013 will be better than the second half of 2012. And that will eventually propel stocks higher. So its best to get in on the ground floor than wait. We see it in stocks like Johnson Johnson, which not only cut guidance yesterday, barely got dinged despite the cut, but was featured on the front page of the New York Times today in an article entitled maker aware of 40 failure in hip implant. This stock rallied 16 cents on the news. Come on hallelujah how is that for outrageous . If that hip implant story cant stop their buying, what can . With the internet stocks including the older web plays like amazon, newer ones like linkedin, which are not constrained by traditional metrics. Much more expensive than every other stock out there in the universe. Some regard them as accidents waiting to happen. Others say i dont care how theyre pric