Year increases after reports that budweiser will delay sending it lower. And shares plummet to their lowest level on record after it reveals its in talks with china over a 750 Million Pound rescue plan it comes by so quickly every single month the decision, they say their output agreement does not change the output of an oversupplies market that is according to the International Energy agency. So in its latest report the iea says supply exceeded demand in the first half of 2019 and that rebalancing in the oil market has begun to slow. As ever, lets bring in nei neil atkinson. And just reading the major take away from the report is that essentially oil supply the first half of the year has exceeded demand you say that that number is 900,000 barrels. So despite opecs best efforts we still have the supplydemand mismatch we do thats a mismatch thats actually grown as new data has come in. And through the rest of 2019 well see how the demand issue plays out but as we move into 2020 the outl
Its interesting its going to come out hopefully well for both countries. Ultimately it will work out. Trump also talks up his relationship with russia as he meets with president putin on the sidelines of the g20 and warns him against further election interference. Deutsche Bank Shares Jump after passing the feds stress test but Credit Suisse dips as it scrapes through with a conditional pass and merlis shares surge after a 6 billion pound takeover by the lego family in blackstone welcome to the show. In less than 24 hours u. S. President President Trump and chinese president xi will sit down for highly anticipated trade talks at the g20 summit in osaka. Cnbc confirmed that china will seek a balanced trade deal but the u. S. Is unwilling to agree to that deal according to cnbc sources xi will seek to end a u. S. Ban on huawei products as part of any trade agreement. Xi called for the integrity of the Global Supply chain to be upheld as he addressed g20 leaders in osaka translator we nee
Were increasing our Sales Guidance in innovative medicines and santos and our bottom line guidance for the full year. Easyjet shares take off after backing the fullyear outlook and lands a new chief operating officer. And shares in asos sink after issuing their third profit warning in the last eight months all right. Very warm welcome to you all we are right in the middle of european earnings season things are beginning to ramp up. Annette and julianna will have the latest on s. A. P. And novartis first two stocks here in the uk. Asos is one weve been following closely. They have issued the third profit warning in eight months citing operational issues in europe and the u. S at one point asos you can see the stock is down 12. 7 , at one point they were down 20 another stock were looking at is easyjet First Half Results did meet expectations the budget airliner reiterated their fullyear guidance easyjet is up there at 3. 6 . One of the few green spots on the heat map today s. A. P. Says
Capgemini buys Digital Services firm altran in a deal worth 3. 6 billion euros sending shares in both companies higher. And ecb Vice President denies low rates have hurt profitability of the regions banks and says foreign merger activity is indispensable. The iranian president has hit out at the latest round of u. S. Sanctions and says they will fail. He told state television that the measures show washingtons desperation and that tehran is practicing strategic programs. President trump described the u. S. Penalties as proportionate in terms of a response to irans shooting down of an unmanned drone over the strait of hormuz. He urged iran tone gauge in talktal to engage in talks. My only message is he has the potential to have a great country very quickly he should do that rather than going along this destructive path destructive for everybody. We cant let him have a Nuclear Weapon he says he doesnt want Nuclear Weapons. A great thing to say a lot of things have been said over the year
Declines. And the fed has two new nominees including judy shelton who has called on the federal bank to cut rates as soon as possible just to bring you some final composite pmi numbers for june across the eurozone, theyre in at 52. 2 against a flash number of 52. 1. Slightly higher than the may number, 51. 8 that flash pointed to a strong expansion in the private sector of the previous six months weve seen that upward trend as services hit a high. Back in may, they were 52. 9 and 53. 4 in the flash for june they have come in slightly higher than the flash. The june final services new export businesses pmi at 59. 4, higher than the flash of 48. 9, not significantly better than the may final. Nearly back up to another 50 mark the the euro dollar is slightly weaker on that news we can see if you look at the european markets generally, you see a relatively positive day. Trading more then a half percent higher now if you look at the individual markets, you can see where that is coming from