We are off session highs and off session lows perhaps restoking the trade war discussion, and they closed a percent, perhaps this gave investors that are looking for selling opportunities a bit of a window to do so. We saw a leg down again around 1 30 the dollar hit three year lows later on, and the dollar fell after treasury secretary Steve Mnuchin made comments, a weak dollar positive for trade, the weaker dollar pushing up the price of oil and gold, up higher by 20 bucks, for stocks, the nasdaq, weakest of the three averages, thats Still Holding to be true, and the weakest of the major s p sectors. Chip stocks, specifically weaker on pace for the worse day since the end of november, and Texas Instruments, the biggest drag in the chip group, the shares down as much as 9 at one point after an inline Earnings Report, but also the slowest Revenue Growth in a year, causing investors to rethink the prospect for Texas Instruments. Weakness in the tech stocks we watch closely, the faang gro
Im Francine Lacqua. Manus im manus cranny. Shall we get into this breaking did . Francine we have some european encompass it pmi. Composite pmi falling to 52. 5. Analysts were forecasting 52 5. 5 manus the eurodollar declining. Germany missed on that as well. For the compass it for the whole of europe, it also missed. Francine actually the services pmi fell more than the manufacturing pmi. Lets bring and stephen morel. Great to have you on the program. When you look at the pmi, how much do we care about this . We are still so worried about greece worried about what happens with the debt relief and we are lori that italy may become the next greece. Pmi meh . Stephen if you look at the composite pmi there has been an improvement over the last six to 12 months. Their something that becomes an issue as well. The nature of the euro. Its a q. E. Currency. The balance of payments data suggest significant outflows. If you look at the net errors account, there are clear signs there. Of capital
We actually hit we set for ourselves in terms of cash flow and process from sales at this point in time. So thats helped us continue to maintain the dividends. Investors fear more cost cutting at Air France Klm. Shares take off after europes second largest carriers despite slipping deeper into the red. Amazon delivering for investors. The online retailer surprises wall street with ads 92 million profit in the Second Quarter as its bet on the cloud pays off. Shares skyrocket after hours. Welcome, everyone, to the show. Some Economic Data could bring to you right now, eurozone july pmi manufacturing coming in at a 2. 2 versus the reuters estimate of 52. 5. The flash composite pmi at 53. 7. Interestingly enough, the weaker euro, price cutting not helping foreign demand at this point. This after the german pmi number disappointed. We were looking at the euro in session lows and right now its remaining in a similar position. Euro trading at 109. 47 against the u. S. Dollar. Eurozone busines
Deutsche bank has lost records of electronic chats linked to the interest probe. Now the biggest bank is trying to recover the messages which it says it yelled archive. It failed to archive. Welcome to the program. Its friday and you are watching countdown, live from london. Its 6 00 and lets get to some breaking news. We will start with the aviation sector. Airbus. Njera hi, anna. We have the first half revenue number 48 billion euros. Airbus has also confirmed its first half guidance. We gave an update on the a400m deliveries they have resumed, 290 million euro charge. We are waiting still for more numbers to come out. Dividend per share is to increase in 2015. The big challenge for airbus overall is that it has a lot to deliver in termsand it seems like the first half guidance is coming as normal. With the a400 there was that crash of the military aircraft. The ceo did say back in may that that would jeopardize the earnings goals, and today we have heard that the deliveries have res
Pressure on freight rates remains challenging. If the demand is over expectation, then you have a squeeze for a quarter, that will go away. Lets look at Telekom Deutsche telekom eking out a beat and telefonica benefiting from currency gains. All right. Good morning to you. We have a busy day ahead of us. Its the trifecta day for the b ofshgs boe today. The stoxx 600 is off by 0. 2 . Not doing much in early trade. A mixed session. This is after we saw a low volatility trade in the u. S. Session. Slight improvement in the asian trading session. By in large fairly uninspiring. Once again its all about corporate earnings. Lets check out deutsche post, they are trading lower after missing expectations. Rising only 1. H4 . The company warned the price environment remains challenging. The ceo said a rise in freight rates continues to prove a headache for the company. Revenue is very much strong, strongest Revenue Growth for a while. Which shows the economy is strong. We have challenges in one