Corporate results come fast. The hiring trend on Second Quarter impairment and the cost of the pandemic. 6 00 a. M. In london, 7 00 a. M. In germany where siemens numbers are crossing the bloomberg terminal. This is amidst this is a beat. 1. 79 billion on the industrial businesses. The estimate was for 1. 19. They are reaffirming the 2020. They still reaffirm refrain from giving guidance for 2020. It is still very tough for them. The estimate on the numbers was for 1. 1 billion overall. Let me try and get those for you. Still no fullyear guidance. They see it comparable to crime this year. Still a moderate decline for 2020. Refraining from the guidance. Third quarter Free Cash Flow is 2. 46 billion versus 134 a year ago. 434 a year ago. It is a different business to the one they took over in the early 2010s. 2013 is when he was there. You have got a little bit of data to get through. We will talk a little bit later on. He is the ceo of siemens. Firstns us for the interview of the day.
The markets tell a story of what is going on in investor mood and fear. Projections that should be out very shortly. Overall, the focus is on gold. Ever higher, piercing a record as the dollar is sinking. European stocks open lower in general, but the focus is on the treasuries edging up. If itt figure, let me see is out already. It is a good indication on the back of pmi figures better than expected. Index, 90. 5 and a bit better than expected. Lets get to the first word news with leighann gerrans. Good morning. Spain is criticizing the uks returnerso quarantine amid a surge. They say spain is a safe country and working hard to keep infections under control. Alsosh airways and easyjet hit out at the decision, saying it adds to more uncertainty for british travelers and their industry. Europes economy is set to outpace the u. S. Thanks to very different responses to the coronavirus crisis. Surging cases in america are putting the brakes on its rebound, but in europe, many former hotspo
Surveillance. I am nejra cehic. We are seeing european equities accelerate to the downside. The stoxx 600 down 0. 6 . Futures pointbut to a lower open. The five year yield hit several record lows. Target rangeow the from the fed. Lets get the bloomberg first word news. Laura the u. S. Death toll from the coronavirus talked 150,000 topped 150,000. Texas, california and florida had record cases. Dr. Fauci warned more protection will be needed. He said if you have goggles or a face shield, you should use it. Facebooks Mark Zuckerberg was speaking alongside the bosses. Rom alphabet, apple he says facebook lags behind its competitors. Credit suisse says it will merge trading and Investment Banking and combine its risk function. The chief executive says it is the first major rebound of the swiss lender. Undoes some of the decisions by the predecessor. The bank merger is something we have been discussing for months. Bute will be costbenefits, it is about having one underwriting business to ha
Unit in a sweeping overhaul. Its a big day for Bank Earnings. We speak to talk executives. Welcome to daybreak europe. Lets get to Bank Earnings. Deutsche banks red headline. Saying they are on track to meet all targets. Lets get to the numbers coming through. The Second Quarter fic trading revenue comes in at 2. 0 5 billion euros. The estimate was 1. 81 billion euros. Upbeat on the Second Quarter f site a beat on the Second Quarter fic. In terms of pretax profit for the Second Quarter, that comes in at 158 Million Euros. Thats a surprise pretax profit for the Second Quarter. The estimate was for a loss of 133 Million Euros. Thats what we are looking at in terms of secondquarter net revenue. That comes in better than expected. The estimate was 5. 94 billion euros. A lot of lines coming through here. 2020 revenue essentially flat. Cet1 reaffirming its 2022 leverage ratio and return on tangible targets. In terms of Second Quarter Net Interest Income, that comes at 3. 0 9 billion euros. E
Xis impact is not good. The ceo ofak to siemens this morning. 6 00 in london, 9 00 a. M. In dubai. Theres lots of tentacles of risk that will boil through the day. Australia, new zealand, looking at extradition, but i love the story. You have to give attribution when somebody else finds a great story. It is about goldmans. We need to prepare ourselves for the risks that come over the election. They are talking about the year 2000. I was in a different world. Worried aboutmore secondctions thana whack of the coronavirus. It is interesting. You have got jp morgan saying the s p can hit another record. He says investors are mispricing both the virus risks and the election risks. Couldgan says the impact be neutral or positive. Aboutve goldman talking volatility picking up towards the end of the year. They talk more about december rather than november but it is pertinent for us to talk about it today because we have biden laying out his plans in pennsylvania later. That will bring the elec