Topped estimates signaling optimism around new Iphone Models. It is different for samsung. Shares drop after reporting sharply lower profits amid global trade tensions. Matt welcome to bloomberg daybreak europe. We are getting figures from Credit Suisse in switzerland, secondquarter net income was 937 million swiss francs compared to the estimate for 788 million swiss francs. Really beating the estimate on the bottom line. As far as revenue, Credit Suisse says Second Quarter net revenue was 4. 5 above the street estimate. Total revenue was 5. 50 8 billion swiss francs. The estimate was for 5. 34 billion francs. Leading on the top and bottom line, secondquarter wealth 9. 5gement net new assets at billion swiss francs. Credit suisse, doing quite well in terms of the streets estimates. A beatit comes in as it for bnp paribas, secondquarter net income, 2. 40 7 billion euros. Euros. 7 billion looking through the details, bnp paribas Second Quarter revenue rising 8. 8 to 793 Million Euros. F
In china. Stocks declined. Can the fed decision tonight we light the fire . Claimsparibas secondquarter income gains, while Credit Suisse outperforms. Tidjane every quarter has been really mixed. First quarter was. Good, Second Quarter started negatively, then we had strong growth. June was the best month in 42 months, so it was very contrasting. Anna and apple gains in late it. Ing after advancing can push u. S. Stocks to another record . Matt, good morning . Matt good morning. We are less than a half hour away from the start of european trading. Look at the offshore yuan, this is a threeday chart, we had a jump three sessions ago but had started losing some ground. This basically means that the yuan was getting stronger as it comes down because the dollar is priced in yuan. After the trade talks ended, we have gone straight back up to 6. 9. The concern is that the more pressure on china in terms of trade, the looser they will be in terms of the band around their currency, and they co
German defense minister steps down as defense minister ahead of a secret ballot that could cement her as the first female European Commission president. Manus warm welcome to your biggest concern to daybreak europe, and what is your biggest concern, a meltdown or a meltup . This is the msci world index. To bail on stocks. Central banks are giving you a gift, that is their message. More of a risk as equity markets go up, and people dont appreciate that. The question is, do you believe that going into earnings season . The least attractive market for them, the usa, their top calls australia and japan. A couple more markets, even i cant make wti more exciting than it is. Downgraded, what will the inventory tell us . And gold, it was red, i do promise you, ahead of retail sales. The point, if you want to protect yourself as yields go back up, do you want a little gold for protection . That is a question for markets. You have the glorious s p. [laughter] nejra it wasnt so glorious yesterday
Steve mnuchin says he may had to beijing of trade talks arent productive. This as europes braces for u. S. Tariffs on 7 billion of goods and legal aircraft subsidies. Trading revenue will be the talking point for Goldman Sachs and jp morgan as they report quarter results. We will hear from the cfo, john shrewsbury. And buyers reprieve. The german companys legal payout over its second round up by 55 million by u. S. Judge. There are some harsh words in that case. He called their behavior reprehensible. Ant to talk about bitcoin everyone has harsh things to say about bitcoin, from President Trump to his treasury Steve Mnuchin, saying it is only backed by thin air. On can see it hit 12,000 friday and just dropped over the weekend, trading now a 10,700 between four dollars. One of the problems for bitcoin is that a lot of people have bad things to say about Facebooks Libra as well, even Maxine Waters is out against libra. But im not sure they should necessarily be making the connection bet
Executive, we hear from the head of the groups chinas business exclusively. This is longterm, we have one of the biggest production bases. Nejra welcome to bloomberg daybreak europe. 6 00 a. M. In london. Williams, andom the markets react. Bond markets price 41 basis points, we have pulled back from that, but yields across the curve. Yield, to your yield drops below 1. 80. We move up three basis points today. We see dollar reaction to the fed speakers. Yen, and japan inflation data pushing the yen weaker. The youngf equities, affecting asia, but u. S. Futures on the front foot. Todays get gains in session. Gold hitting a fresh sixyear high. Brent jumping on concerns around geoPolitical Risk around the strait of hormuz. Juliette saly in singapore with lots more for us. A pretty happy friday for asian equities today. A strong rebound coming through in japanese stocks, yesterday had their worst session in more than three months. Helped out by that movement in the yen. Even though inflatio