Youre welcome to the pulse live in london. Our top story. Chinas secondquarter gdp beat estimates. Rising 7 from a year earlier. 7 , a, im always a skeptic. Coming in bang in line with what they wanted to achieve. What are these numbers . Andy you are right to be skeptic. It is a bit like last year. We had a slow start to the year. And a slow first couple months, but now it has picked up again. Exports being better. Consumers are back into the game. House prices recovered. It was enough to get gdp up to that 7 figure. Ill gveive your one anecdote. Cinema sales boomed, which gives an indication that the high street is actually spending a bit. Manus a take away from that is buy popcorn. Does it mean where in for a better second half . These numbers are better than the market hoped for. It depends on whether there is more rate cuts and more support given by this administration. Enda it does. One wild card we have is the stock market. We know the story about the huge gains in june. Then we
Countdown. Lets start with twitter and the roller coaster that was the share price. The initial reaction to the number bound bounce was positive, jack dorsey started to speak candidly about the shortcomings of the business that is when investors started to rethink and the stock fell. Fascinating roller coaster ride. Lets talk about what has happened in the u. S. More broadly u. S. Stocks calling time on the longest losing streak since january in yesterdays session. Stock was up, better than estimated reports. Ups, pfizer ford, coming in better. It paints a positive picture so far. Mma in europe talks yesterday help as well. Lets move to the question the morning on twitter, whats could threaten the m a wave . You could find me on twitter. Lets talk about what is happening in the asian session. Over to china now, as the countrys equity index swings. Our market reporter from hong kong joins us for the latest. Juliet it has been a fluctuating market. Asian markets followed in general, that
Cap 40 up. 5 . Lets have a look at your commodity space. This is where the route has really been. We see copper driving higher spending much of that fear about tiny slowdowns. Maybe just the time weve seen enough of a selloff now. Time to get back into commodities. Up we go in terms of copper. Oil continuing on its downward trajectory. This is of course, in a bear market. All are downward will that play into the u. S. s decision later today . You have china continuing to slow its show its slowdown. Shakes it off, and you look at total. It is the second biggest oil player in eour europe manages to keep pretty flat. Why . How is ths tock dr this stock at driving higher . That has gotten far more profitable. They are bringing more oil out of the ground. Therefore t they are weathering that storm. Copper has been on a downward straight. Off by. 25 . Firsthalf copper down, gold output down this is all about delayed commissioning. Meanwhile, i leave you with barclays. Still looking to make m
We are live from bloombergs European Headquarters in london. Coming up this hour, autos. Peugeots first half earnings surge. We are speaking to the cfo live from paris in about 10 minutes time. Make sure you stay tuned for that. First up, barclays german john mack farland says hes going to step up the pace of cuts to the british lender. The Bank Reported secondquarter profits of 1. 8 5 billion pounds. That matched analyst estimates. Profits at the Investment Bank jumped 35 . For more, we are joined by our london finance reporter, julie of her lane. Julia these results sound like mcfarlane is ready to take the bank by the scruff of the neck. Julia he is going to run down the noncore by 2017 to bring down riskweighted assets. I think he is there to accelerate the whole process that jenkins started. You had equities down 2 and Investment Banking fees down 11 . It has been offset by the macro performance. Manus in terms of these job cuts, where do we think they are going to come from . Wil
Accelerate the sale. Line the nests. Twitters companys management slams the user Group Calling it, quote, unacceptable. Hello, everyone. Yes, youre watching worldwide exchange. It is 9 00 a. M. Seema and will fred are out. We have julia out. I thought you were going to stay in greece. I thought we were going to get through the whole World Without mentioning the g world. We clearly didnt. No we didnt. You blew it already. It will be quieter over the next two months and then it will ramp up again. Well see. Good to be here anyway. Great to have you here. We have a lot to talk about today. Lets kick things off with peugot back in the race. They have a favorable fx race. Stefan is in paris. The payoff appears to be paying off. They posted stronger numbers for the first time in a while. Thats to compare with the loss of 114 million a year ago. Sales also were stronger than expected in the first half of 7 including 4. 3 growth for the auto motive division. There are plenty of reasons behind