Conference. Standard chartered shrugs off trade tensions to surpass expectations with firsthalf underlying revenue. Please speak to the cfo and next. Societe generale beats but revenue for fixed income dips in the quarter. We will hear from the ceo imminently. Matt the Federal Reserve has cut rates for the first time is really, but that only half the story. After the quarterpoint cut was announced, the chairman gave investors more than a little food for thought in what is widely described as a muddled press conference. He described the cut as essentially in the nature of a midcycle adjustment. Stocks hit session lows and the closely watched twoyear and 10 year spread flattened to the narrowest since march of this year. To say the move had an insurance aspect rather than signaling the start of an extended easing cycle. To thefurther adding confusion it with the comment that said i didnt say it is just one cut. The president said on twitter powell let us down. Keepovernors voted to rates
Chairman powell says this is not the beginning of a move downwards. Capital gains. Boosting the ratio and outperforming rivals and Equities Trading. The ceo says he will not let brexitange his plans change his plans. It is a question mark. We are not making changes of saturday strategy because of the exit. Prices slump. We speak to the ceo shell. Take a quick look at my terminal. The u. S. 10 year yield, the dip you can see right after news of the fed rate cut. At first, and investors were buying bonds and pushing down the yield. Then during the press conference, it came back up. It does not look like the market is convinced Jerome Powell will keep cutting. Clear in the press conference he never said this is the only cut. There could be more to come. Take a look at where we see futures trading. It is a down day. Drops yesterday. Futures up 0. 6 . Ftse futures falling by half. We see the aftermath of the u. S. Session. Selling over and asia. The japanese market cushioned a little bit be
Pricing a 40 chance of a cut. Will draghi he forced to move . Boris and the brexiteers. The u. K. Prime minister packs the cabinet with loyalists. With earnings season heating up, we talk to the ceos of unileve r, roche, astrazeneca and anglo american, all within the next hour. A busy morning. Matt very busy. Less than half an hour from the european open. As we waitat bunds for the ecb decision. Yesterday, down to a record low for the german 10year debt yield, at one point 40 basis points. Right now we are at 38. I believe the mliv question of the day is, how low can they go . We will talk about that today. How high can stocks go . Futures continue to rise across europe today. We have had a pretty decent run now. Cac futuresup 0. 5 , gaining 0. 9 and ftse futures bringing up the rear, only up 0. 3 . Maria roche raised its sales. Rowth view twosales company cites its treatments as main drivers. The company ceo said to investors that hes excited for the approval of new cancer treatments.
Alphabet and amazon report. Nejra welcome to daybreak europe. It has just gone 6 00 in london. Earnings onslaught is a great way to describe it. Roche numbers are coming through. At 30. 4lf sales come in 7 billion. The estimate was 30. 53. First half core operating profit. The red headline, let me get to that. View toits sales growth mid to high single digits. Thats very interesting. Raising its sales growth view to mid to high single digit. Thats the red headline on roche. At 11. 1. Comes in the estimate was 10. 65. Thats a beat on first half core eps. Core operating profit for the first half comes in at 12. 36. The estimate was 12. 16. Theres a beat on some of the numbers. The headline you want to focus on is the fact that its raising its sales growth view to mid to high single digits. There were some pressures whether it wouldve raised guidance a second time this year. To the ceowe speak of roast. Dont miss that interview at 7 30 a. M. London time. Dani burger is standing by with th
It is a different set of numbers, but tesla is said to be production after a record quarter. Manus welcome to daybreak europe. Battered, bruised. Im not talking about politicians. Im talking about the pound. Kingdom, in the united sentiment is being battered and bruised, something to do with brexit. Pound faces a twoyear low. Why isnt sterling rallying . If it was such a demonstrative statement in the house of parliament or not, as the case may be. No rate hike from the bank of england until 2020. The worst quarter since 2012. Is it brexit or global slowdown . Have a look at the rest of the world. Bonds are a treacherous asset. That was mngs line yesterday. Back up to 2. 3 . Ratios were slacked to say the very least. Have a look at nymex crude. Inventories. In Credit Suisse with a higher core on the oil market. Nejra have bond traders fallen into a dove trap when it comes to the fed . We look ahead to jay powell. The twoyear back above 190, jumped 22 basis points since the lows in june