executive board member says the central bank could lose credibility if inflation goals slip. welcome to "countdown." has just gone 7:00 here in london. in the last hour, it has been reported that france has destroyed the islamic state's command center in raqqa in northern syria. police have a number of raids across france and in neighboring belgium. french president francois hollande: the u.s. and russia for a new alliance to destroy the islamic state. we are joined by hans nichols and guy johnson. some breaking news about french airstrikes and what they have reportedly managed to achieve. guy: a second night of strikes from the french. it appears they are targeting, again, the northern syria town of wrapped up. -- town of raqqa. it was done once again working with the americans, who are providing targeting information. it appears 10 jets took part in the raid. it appears that francois hollande is going to step up this fight against is, and it appears he is once again working with his allies. how hard is going to extend, we will -- how far this is going to ,xtend, we will wait and see but it appears they are willing to strike back in short order and make it clear they are determined to fight back. i think the next stage will be how he works with not only the americans but other allies. he has made it clear that he wants to see a single coalition. will we want -- will we start seeing coordination? making that happen will be significantly more difficult than the early strikes that we have seen. a second night of strikes. will there be a third, a forthcoming at a fifth, i think now is the question. is the latest on the investigations being carried out france? and across hans will report on what has been happening in brussels and belgium overnight. but they continue to piece together forensically what has happened here. and the story behind it was who ultimately was responsible. continues. for salah one of the eighth involved in the attacks. the man born in belgium seems to be at the center. we are beginning to understand how the cell works, who planned it, and who carried out attacks. beenappears to have originated syria, organized in belgium, and carried out in france. the french are renting investigation and ongoing manhunt still very much alive today. anna: the french president giving a defiant speech in parliament yesterday. one of the implications of the speech that he gave? guy: i think there are two implications. one is that he wants to act as a lightning rod. behinds to be the force bringing together a single coalition. we saw that huddle taking place at the g-20 earlier this week. i think that is the kind of image he was turned into a reality. -- he wants to turn into a reality. he once to extend the state of emergency for three months. there are going to be more security checks. there is going to be a greater police presence. there are going to be additional powers for the security services. the french are very much changing the rules of the game. the french are asking for at least three months. the feeling here is that the period in which security is going to remain heightened could last way beyond that. a significant seachange. he is not worried about the spending story, the stability pact that has been so odorous. he wants to spend money on the security services and he is not going to worry about the budget deficit or anything else. is.: clear where the focus course.in brussels, of increasingly -- what is the mood like there this morning? heavy.olice presence is about as heavy as you would have for a normal heads of state summit, however that perimeter seems to be extended throughout the city. there were two arrests, charges of terrorism pertain to the terror -- pertaining to the paris attack. that have to do with the seven individuals they detained saturday. , thatg sweep yesterday didn't lead to a new arrests. what we do know heading into this, they had a friendly football match between spain and belgium which was canceled. the brother of that suspect, salah, who is still at large. there was a report that he could potentially be in paris. his other brother was killed in the attacks and his other brother spoke yesterday to reporters. here's what he has to say. i cannot tell you why, i cannot tell you how they did what they did. we are an open-minded family. we never had any problem with justice. because of the tragedy, my parents are in shock and they don't quite realize what has happened. hans: yesterday, the belgian prime minister did not rule out closing down some of these problematic mosques in the area. that seems to be the center of the investigation, although, as i said, the raids yesterday fielded no new arrests. anna: nations are looking to tighten their borders in the aftermath. what do you think about angela merkel's attempts to sustain this very liberal immigration policy? hans: she seems determined to hold that line. monday night has traditionally been the night in germany where this anti-immigrant rally takes place. last night's numbers seem to be on the middle to low side. -- after charlie hebdo, you have around 20,000. they didn't reach those numbers. .e will be monitoring a lot of german politicians come out of the morning, to their german talkshows, speak to the news media. we will get a better sense of whether there is any internal coalition. the highest we heard was a state representative in bavaria saying everything needs to change. news is hearing from citigroup in the last hour that her popularity is still really high even if that has fallen from its previous levels. thank you very much. let's get back to the market story and have a look at how asian markets are performing. just what kind of a selloff we shall yesterday. all the details behind that interesting move. >> a very interesting move, indeed. overee the asia-pacific up 1% right now. for most of the markets in the region -- singapore unchanged. the highest level in almost three months and we are seeing brokerages rally on speculation of a jump in trading. take a look at some of the stocks advancing. we have seen oil prices generally higher. among those, macau casino shares. a report that november could be a difficult month in terms of gaining revenue. brokerages are doing very well in shanghai. the shanghai composite of by about one half of 1%. let's look at the a share. these of the stock sectors that are moving. financials seeing a nice move. as we look at banks and brokerages, financial services among the big movers. these are the top stocks we are watching in the session. major, major movers. quickly checking out other stock sectors we are watching. a rebound from yesterday's big decline. this is often encouraging, because it shows investors resilient around the world in the face of this terrorist threat. cathay pacific here in hong kong advancing. i am planning to make that trip. anna: you enjoy yourself. thank you very much for your report. it is 11 minutes past 6:00 here in london. is simon french. good to have you on the program. let's contextualize the events of friday from your perspective. any parallels in terms of the investment reaction? we have seen markets bouncing back already. >> quite a lot of parallels with attacks in 2005 in dndon, when the u.k. equities coupled over a period during the summer there. that implies weakness as investors tried to make sense is knows particular markets. what you really are looking for now is whether this is an or whether this is the start of a campaign much did in keeping what the ira in the u.k. in the 1970's and 1980's. is this the start of a concerted campaign which does start to have significant economic impact. let's talk about the economic impact. on the one hand, you can see how consumer sentiment -- people can understandably be feeling nervous to shop and spend money. on the other hand, governments typically step up and spend a little more. we heard from francois hollande that security is more important right now. how do you balance those contributions to the overall economic picture? you will get a fiscal stimulus as security is stepped up, more policing. thatis a fiscal stimulus is crying out for. -- freetion then movement to workers, prior to they were talking about closer european integration. that meant actually and integration of the labor market, product market, completing a labor -- completing a full market. messages to come out of the french message once the emotions of the event have passed will be key for the trajectory. anna: interesting for france when we see the government -- more spending in the suburbs of some of these big french cities where some of these problems seem to come from. human there is a latent capital there that has been neglected in recent years. countries, where immigrant flows, which can be a huge boost, has kind of been squandered. will there be the appetite to throw money in the direction or will it go the other way? i would be an advocate of the former because of the potential for migrants to offer a lot to what is an aging population. anna: simon, thank you. data togot plenty of get to later on during the trading day. get in the u.k., we will inflation data. then, we turn to germany. u.s., later on in the trading day, we will also get inflation figures as well as industrial production data. time, itr 7:00 u.k. will be speaking to the ceo of easyjet. we want to get her take on the recent terror attack as well as the downing of the plane over the sinai peninsula. it will be interesting to talk to her about that and their exposure to the french market. up next, confidence in question. saysxecutive board members investors could lose faith in projections. anna: welcome back. this is "countdown." stocks are extending the rally we saw in the u.s. as global financial markets show resilience in the face of the paris attacks. the s&p 500 rebounded from three days of losses. the history of terror attacks over the last 15 years show market reactions are increasingly short-lived. report this morning that france has destroyed islamic state's command center in raqqa, syria. earlier, french president francois hollande called on the u.s. and russia for a new alliance to destroy the islamic state. liberty global has agreed to buy cable and wireless communications. shareholders will get a special per share dividend. we'll be smoking -- we will be speaking to the ceo. the big question for investors is, will affect tighten just that the ecb is easing policy? exclusivelyro spoke to the ecb executive board member in frankfurt. >> your area will not reach the level it had in 2008. this is a very long tiered recession that we have here. if it hadn't been the case repeatedly, a number of years before. this is not a new situation, unfortunately. -- araises the risk of repetition of that situation. we still have a couple of weeks before the meeting of december. downside risk is present and we also see the european economy having difficult -- having difficulties in consolidating the recovery. a lot of long-term decisions to stimulate the risk appetite. that is what is dangerous to do, we know that. we look from the financial stability point of view. the impact on inflation has been relatively disappointing so far. the battle is not yet finished, that is clear. what happens after september? do you stop -- what do you do with the assets coming to maturity, for example? these things have plenty of importance for market signaling. markets to the reasoning. i would turn the argument the other way. sureave to absolutely make that expectations remain anchored. there is a high probability of the expectation of future action, that is true. it depends on the details. we're going to look at that. it is holistic, as i say. at confidenceing indicators only. it will be more holistic. i think the markets know what i mean with that. anna: let's bring in jonathan ferro. simon french is still with us. of banking.ose >> i was there asking questions. anna: it was really interesting the way he was talking about the inflation situation. it is how long we have been there. >> this was recorded yesterday. about 20 minutes before the interview, we got the inflation numbers from europe. he is looking at expectations and how fragile ar. he is never going to give you this explicit opinion. what he wants to tell you is what informs that decision. they have a decision to make. either they act or they don't. they have to wait the risks of not acting or acting. i think we can have a discussion with ourselves. the risks of not acting probably outweigh the risks of acting and not being needed. ecb has signaled so strongly about what exactly they do. it is the ecb up first, and then it is the fed. they can't think about what the fed has done because they won't know yet but they will be looking ahead. jonathan: they can play around with the interest rate, extending quantitative easing. the ecb doesn't have a symmetrical inflation target. -- the bank of england care just about as much about inflation on the upside or the downside. for setting the inflationary , i think that maybe something they have to look at. anna: is talking about an economy that is finding it difficult. simon: on inflation expectations and potentially moving the goalposts, we will get the plunge and goal -- the plunging oil price. very different to a place in -- very different to inflation in the u.k.. i wonder whether they shift the goalposts away from headline inflation. 1.1%.e have to pick up to when you look at things like wage negotiations, the risk is -- would you and i think that a table, do they sit there and say, inflation is running at near zero, you are going to have a 0.5% pay rise. that discussion happens. differencea big, big . anna: we have to be flies on the wall in those rooms. thank you for that fascinating conversation. executive board member at the ecb. up next, how rich is the islamic state? howoing to look at just islamic state finances its operations. ♪ the only way to get better is to challenge yourself, and that's what we're doing at xfinity. we are challenging ourselves to improve every aspect of your experience. and this includes our commitment to being on time. every time. that's why if we're ever late for an appointment, we'll credit your account $20. it's our promise to you. we're doing everything we can to give you the best experience possible. because we should fit into your life. not the other way around. anna: welcome back. you are watching "countdown" live from london. stocks are expanding the rally seen in the u.s. as global financial markets show resilience in the face of the paris attacks. s&p 500 rebounded. the history of terror attacks over the last 15 years shows market reactions are increasingly short-lived. meanwhile, france has destroyed islamic state command center in raqqa in northern syria. the french defense ministry says 10 planes were involved. french president francois hollande called on the u.s. and russia to form an alliance. president obama has arrived in manila for the summit. thousands of police and security officers have been deployed around the city. more patrols and spot checks on suspicious activity. >> a unique -- againsted more support isis and that is what we are doing in france but we will soon need to have gathered together all the people who are able to fight against a terrorist army within the single united coalition, and we are working to that end. it is within that approach that i am going to meet president putin and president obama to join our forces. anna: french president all on speak -- french president hollande speaking yesterday. the islamic state is believed to be well-funded through means such as bank looting and the sale of oil. let's go to dubai. andrew, good to see you. themuch do we know about money the islamic state makes and where it comes from? andrew: a lot of it are estimates. we has a figure that came to his overnight from treasury that showed the group was making hundreds of millions of dollars from kidnapping, tens of millions from kidnapping, millions from financing. don't forget, that it went into syria and iraq and establish the so-called caliphate in seed -- and seized millions of dollars from banks. possibly the most comes from oil and gas sales. the treasury estimate that in single month they could be making $40 million. if you at all that up, they are managing a $1 billion or $2 billion industry. seen the military response from france coming quickly after the attack. what will global powers to about the funding of the islamic state? level, we hadacro the g-20 meeting in turkey yesterday and they came out after that with a number of statements. one of those was about financing. they said they are going to crack down on financial channels for terrorist financing. there were three aspects to that. one of them was a freeze on assets that they discovered. another was increasing information. then, we will see may be some small steps such as ip addresses for financial transfers or more information from atms. what you get to that level, it becomes very difficult, because a lot of what they do is underneath the radar. anna: how is this all going to play out on the ground? we heard yesterday from president obama downplaying the chances we would see boots on the ground. andrew: there's still a lot they can do. if you take the g-20 statement .eing the macro level now, it has been hitting tactical units and checkpoints and headquarters. yesterday, they came out and said that they hit 116 oil tankers overnight. the day before that, they hit a cash distribution center. if you go back to what i was saying earlier about the groups earning $40 million a month from oil and gas sales, if you start taking out these oil tankers and casters recent sites, it is going to make a difference. if you add that to the broader steps, i think you see a more concerted effort. anna: thank you for joining us. 6:35 in london. is still with us. let's step away from the immediate financing. think that because of geopolitical tensions, we would see the oil price go higher? that is the sort of knee-jerk reaction you expect to see. simon: following the attacks on the isis supply lines and tension in the middle east, you would expect some movements. report with 3 billion barrels which continues to be this served locks stock -- this surplus stock which is probably heading at lower because we found that shale oil production in the u.s. is much more resilient than we thought to oil prices. what is really key in the fourthrm picture is that of december meeting for opec in vienna. where saudi arabia comes to in terms of being the swing producer. traditionally in low rates, the saudi's have taken production off-line and then returned the price to a level they are much more comfortable with. they have certainly been playing hardball in recent weeks. anna: where are you expecting oil markets to go to that? aboutlting its rebound at $44. of looking ahead, where do you think the oil price is going? it is going lower from here because it is difficult in the current climate to see an agreement coming from opec to take supply off the table. you look at the demand side, and systematically, opec has overestimated the global demand recovery. every system -- every central bank and treasury is also overestimated the demand rebound. i can see the downside risk is much higher. eventually, the pain will become too much for opec members and they will need to start moving marginal supply up. anna: they will hang in a little bit longer. i see the average opec crude price has fallen below $40 for the first time since 2009. simon: they are having to go to the debt markets to make up that gap between expected revenues and what i have committed in terms of public spending. ,n terms of the global economy oil at this level is, i think, a gift to the world. it isn't going to be spread evenly. andre seeing some benefit, the eurozone is one of those geographies. the u.s. and the u.k. it is not going to be symmetrical. you look at global growth and it is not, perhaps in more traditional cycles -- it is going to take more time and be lumpy. anna: we were talking with jon ferro about the central bank debates. topline inflation numbers and which to emphasize. the bank of england has talked in january we will start to see the year on year falls drop out. it is difficult to look at a picture of inflation without oil. even if you took out the oil that is sold, it gets in through secondary sectors into oil prices. simon: second order effects you are seeing in the u.k. with cpi. prices prices, clothing come a lot of the import prices where transport is a component. it is spreading. the longer we have that lower-priced the board spreads into different markets, second order markets. in terms of the bank of england, it's previous inflation report in august has oil bouncing back to $80 per barrel. its most recent report, $56 per barrel. really, i think, it is those second order effects and how long they prevail through the supply chain that will determine the ability of central banks. with things to do with inflation, it is sometimes how long these things last four. thank you very much. liberty global has agreed to by cable and wireless communications in a 3.5 billion pound deal. with get more on this deal -- tell us more about this. >> we are talking about a 5.3 .illion dollar deal liberty global agreed to buy cable and wireless. as you said, cable and wireless shareholders with a special threepence dividend. malone, chairman , is no stranger to deals. he spent more than $50 billion in the past decade of nothing cable companies across europe and now he is looking to do the same in parts of latin america. cable and wireless got more than half of its revenue last year from hannah montana and the caribbean. this really gives john malone critical mass in latin america. i know you are talking to the cable and wireless ceo bill bentley. it will be interesting to ask them how they came to the $3.5 billion number. we were reporting just a few weeks ago that cable and wireless was looking for more than $5.5 billion. it is not as if cable and wireless shares have been underperforming. they are up almost 50% year to date, the second-best performer on the top 600 telecoms index. the ceo said that it allows both companies to add scale in a high growth, low penetration region, latin america. the other question is what this talks betweenany liberty global and vodafone. talks broke down in september. beingcts of those talks revived could be dimmed off the back of this deal. anna: thank you. we will be speaking to the cable and wireless ceo in an exclusive interview at 7:15 london time. up next, apec on high alert after the paris attacks. leaders including barack obama touchdown in the philippines. ♪ anna: welcome back, you are watching "countdown." here are the stories you need to know this morning. peterecutive board member says downside risk may warrant further action from the central bank. inflation expectations remain fragile. >> you have to make sure that your inflation expectations remain anchored because that can complicate dramatically of markets revised structurally downwards. anna: stocks are extending their rally in the u.s. as global financial markets showed resilience. indices from australia to japan have risen after the s&p 500 have rebounded. france is destroying the islamic state's command center in raqqa, syria. earlier, called on the u.s. and russia to forge a new alliance to defeat the islamic state. through seven deploying the philippines capital of manila where world and business leaders are attending the apec summit. security is the top topic following the paris attacks. dealing with the threat of attacks is nothing new. terrorist attacks are a challenge for business, but that is not new. therefore, we try to do our utmost, first to protect our own people. we have our pilots on the flight. we check constantly with different methods. inglis is live at the summit. security must be very tight after friday's events in paris. dated: good morning to you from hong kong. absolutely, extremely tight. dhle to add to what the boss had to say, he was actually on the flight to asia when the event in paris to place. when he checked his phone, the first thing he noticed was an internal security e-mail advising that all their employees were ok and potentially to be wary. i mention that because it really has changed the tone of what should be, and still is, an economic summit. police anding 30,000 military have been deployed, scattered across manila to ensure the safety of all the delegates. of course, you have world leaders coming in. over the past two hours of so, we have had president obama come in, chinese president xi jinping, the canadian prime minister. 19-20king essentially heads of state are gathered or will be gathered here. they will talk about things like -- trade,nomics, economics. china slowing down. again, expect the narrative and the talks to continue from what they talked about over at the g-20 in turkey to dominate the narrative here. securing what is really a very densely populated city. when the attacks took place in paris, that happened at asia times saturday morning. the president of the philippines a security convened meeting to ensure everything was in place to make sure things run smoothly. anna: david, thank you. the moodlis with there. the head of the world's second-biggest mining company says he is unfazed by pessimism on china. ceo chilcote spoke with the remains positive. >> there are a lot of pundits saying growth will be slower. quite frankly, we have conducted independent research and analysis and it is indicating that is pretty close to 7%. it is a volatile world and there are a lot of pressures. i think so far, the leaders of the government have shown that they can keep their hand on the tiller. leversnkly, far more than other economies given the ,act that they are controlling there are a lot more levers. let's look at the outlook for 2016. senior emerging markets strategist. let's talk about china. the ceo was saying he is pretty upbeat. thatlieves in the levers the chinese government is ever to pull to secure that level of growth. do you? >> i think it is very difficult for them to keep growth where it is. some may suggest we might be at 5% already. i think the recent data has suggested that growth is not stabilized yet. to me, it doesn't look so good. anna: what do you really look at when you want to figure out what is going on in china? to looks, people said at the indicators that really get to the heart of the manufacturing story. the economy is changing know, isn't it, and is there data that people have looked at for years are not picking up on? the retail sector, for example. maarten-jan: we look at two parts of the economy. first is the manufacturing, the industrial sector. then we have the consumer part, the retail sales and everything linked to consumption, which is doing much better. iss whole services sector growing at a level of probably 7%, 8%. where we exactly are, i think it is close to 5%. but we have seen in global trade, is that a key for what we have seen. only compare global trade up against gdp, does that tell you where the global economy is heading? with the domestic investment picture not looking so good -- that puts extra pressure on these industrial sectors which are already struggling because of high capacity. anna: we have been talking a little bit about what the fed might do in december. the chinese will be waiting to see what happens. how will all that -- the conversation around emerging markets as well trodden. we know many of the emerging markets have been caught on the coattails of fed policy in the past. what will the chinese make of what the fed is doing and will we see any response? there are people out there think china will change their exchange rates before the meeting to head this up at the past. i don't particularly buy into that. movenk the chinese will their policy somewhat independently of the fed but mindful of the impact the dollar will have on their corporate sector. now, i see china right think we have seen a stabilization over the last quarter. i think the bottom was towards the back end of q2. the ammunition the chinese authorities have. public spending growing at 26% year on year. lending growing at 26% year on year. still 400 plus basis points of interest rate cuts that could be delivered if required. that is an enviable arsenal. you compare that to the other large economies. the trent -- it is covered for what you need to do to stimulate the fan -- to stimulate demand. anna: more probably, on the emerging markets story, russia -- in its early days post paris, thes early to see how global community will come together to combat is. do you see this as something that could bring rush in from the cold once again and sort of reunite that emerging markets story? maarten-jan: this year, you see russia performing quite well giving the difficult environment. the market is performing quite well, which suggests already that they have been pricing some kind of normalization with the west. it happened in paris probably brings russia and the west closer together again. it is early days, indeed. impactse of the other could be in how we see east-west relations within europe developing. still parts of eastern europe speaking very differently about the refugee crisis in the aftermath of this paris attack. accentuate the differences that were already there? maarten-jan: the new policy government was very quick and stating that they don't want to accept new refugees. this week, the relationship is probably more difficult. that is clearly an issue for these countries. anna: what is the european emerging markets story look like to you at the moment? maarten-jan: it is a good region that is not so sensitive to china. there are not so many imbalances. they have this relationship problem with western europe. people are pricing a little bit more political risk and there might be smaller investment flows from brussels. that makes the story a bit difficult. the weekend euro, which doesn't help in a global emerging market context. anna: thank you very much, maarten-jan. and, simon french. 6:56 here in london. just to recap what we have been. we have seen the markets have .een bouncing back in asia we saw a good bounce and equity markets in the united states. some of the indices up by more than 1% on wall street yesterday. i have a chart here that shows what the msci asia has been doing. we are off our high of the session in asia. you can be interesting going into the european open. when we come back, we will get numbers from easyjet and talk to the ceo. ♪ ♪ a call to arms. french president hollande calls for a new alliance as france destroys the command center in syria overnight. asian stocks build on the rally in the u.s. as global financial markets showed resilience in the face of the paris attacks. to a $3.5obal agrees billion deal three -- deal. interview,xclusive and ecb board member says they could lose credibility if inflation goes blip. welcome to the program. you are watching "countdown." it has just gone 7:00 here in london. want to bring you some use out of vw. october european market share falls to 25.2%. that was from 26.1%. , but as wemous fall discussed last time we look at some of these monthly statistics coming from the motor industry, the leadtime means that it might take a little bit of time to see the exact impact from the vw scandal on their sales. recap, vw october european market share falls to 25.2% from 26.1%. we will get better analysis of that number and some context for you as we go through the morning. we are getting some numbers from easyjet in the aviation space. full-year revenue, 62.48 pounds. trying to dive into the instructive numbers. at 886profit coming in million. that looks to be in line. revenue numbers for the full year coming in 4.60 9 billion. that is a touch below 4.72, which was the estimate. shareming at 49.31 as per . full-year profit, 438 million pounds. little in the way of context coming through from easyjet. the ceo saying that the outlook with a longer term is positive. we will try to get further analysis of that, just how much the sector can expand. we will talk about that with the ceo of easyjet. that conversation coming up in a few minutes time. defense ministry confirmed that overnight strikes destroyed a command center in northern syria. antiterrorist police have made a series of raids across france and neighboring belgium, where front of deadly attacks are said to have been organized. yesterday, french president francois hollande called on the u.s. and russia to forge a new alliance to destroy islamic state. support to all the fighters against isis. that is what we are doing in france, but we also need to govern together all of the people who are able to fight against a terrorist army within a single united coalition. we are working to that end. it is within that approach that i am going to meet president putin and president obama to join forces. it's goal line to paris, where guy johnson is standing by the tell us more about these airstrikes, what we have heard overnight. guy: we understand from the defense ministry, which has confirmed that this morning, the aircraft hit command centers and training centers around the city in northern syria. the french president saying he has put his country on a war footing and he is making it clear that he is determined to strike back against those who struck his country on friday night. the raids were can start -- were conducted with u.s. intelligence . the coalition that he is talking about building is partly formed. clearly, french and u.s. intelligence services worked very closely together. he wants to expand that to include other countries and he is talking about this single coalition that will be used to not only in syria, but iraq and around the world. anna: what is the latest on the negotiations taking place in paris and belgium as well? we continue to watch this story developed. there is an ongoing forensic examination of the various locations that were targeted on friday night. that story very much continues. the police presence in france remains at an elevated level. that is something that the french are going to have to get used to. we heard from the french president that he wants the state of emergency to be expanded three months. it may end up being beyond that in reality. we will probably end up seeing heightened levels of security for quite some time. in terms of the investigations before the raids in belgium, we will hear from hans a little bit later. he will tell us about those raids. they yielded very little in terms of arrests and deliverables. we are waiting to see what happens next in terms of the investigations taking place in belgium. remember that francois hollande says this was effectively planned in syria, organized in belgium, and carried out in france. salah remains at large. we are beginning to understand hamid, whohamnid -- is believed to have masterminded the attack, and the foiled attack on the train. investigation is ongoing. the level of security has been heightened. it looks like it will be carried on for some period of time. back to you. anna: guy johnson joining us from the streets of paris. let's go back to look at where we are in today's session. we have a chart of the msci asia. this time yesterday, the asian markets were falling in reaction to what was going on in paris, what had happened on writing. we saw the falloff in equity prices. this morning, quite a decent bounceback. this is a three-day chart showing you how we have bounced back from the losses yesterday. let's get to zip ever -- to zeb eckert in hong kong. we are rebounding from a six-we located investors showing resilience. call it defiance against this terrorist threat, saying you will not roil our global financial and economic system, the way that we work. and the way that we work today in asia is that investors are putting their money to work, buying shares. some modest selling pressure here incident -- in shanghai as the day comes to a close. elsewhere across the region, measurable gains. jakarta, 1.7%. we had some economic data out there. sydney rising 2.3%. a nice move in the philippines as leaders gather for the apec summit. in japan, the nikkei moved higher by 1.25%. these are your movers. isuzu down. -- concern that the paris attacks may lead to a downturn in travel. that is not necessarily the case if you look at what investors said to say. they bought shares of qantas at a nice clip despite travel warnings for citizens in the country. now unchanged. automakers in japan, toyota, a nice move. nec, about a 6% move their feet investors putting risk back on the table. that is why stocks are bouncing and why precious metals are seeing a bit of a decline. gold is down from yesterday's gains and copper among the industrial metals, a space that we continue to watch. the downturn in china happened, disappeared from investors thinking because this drop in copper reflects the fact that investors are still uncertain about the impact of a chinese slowdown, particularly on commodities markets. as you know, you have seen coal, steel, other industrial mothers -- metals falling quite sharply throughout the course of this year. china is still in the frame, despite these bigger geopolitical risk to the market place. low: copper at a six-year in this morning's trading session. zeb eckert from hong kong. easyjet results missed forecasts. 4.50 9ported revenues of billion pounds as opposed to estimates of 4.72. our european aviation correspondent joins us now. broadly in line then? >> these are incredibly strong numbers on the back of a very busy summer for the whole european airlines sector. give credit to easyjet. they did face some bumps early in the year. they had a fire at one of their main airports in april. they also had a big eurocontrol bill. they should deserve credit where credit is due. they have done a good job. it will be interesting to talk to their ceo about the outlook for the business. the outlook for the long-term is positive. they say market expectations are in line with the forecast for the full year. they are not trying to guide anywhere different. >> they are very conservative. the start of their financial year, september and october, the load factors were above 90%. it is hard for them to look into their crystal ball and see what the winter is going to be like. there has been paris, a few things that have not gone straightforward. anna: difficult to manage and deal with. in terms of running an aviation business, capacity is a bit of a question. who is going to put how much has to be on hand whether the markets are going to be able to cope with it. lex analysts in the market are aware that both reiner and easyjet are -- >> analysts in the market are aware that both going tond easyjet are be adding. there is going to be blueprints and people are going to start adding capacity. as soon as you start adding capacity, you have the risk of driving yields down. anna: thank you very much. kari stays with us. we hope to speak to carolyn mccall in a few moments. here is the data you have to look out for during the trading day the u.k. inflation data at 9:30 u.k. time. prices are estimated to fall for a second time. zew we get the german survey. in the u.s., we also get inflation figures as well as industrial production data. something to look for later in the trading day, we will be trying to speak to carolyn mccall, the easyjet ceo, about the numbers and the outlook after the terrorist attacks. we will have that conversation with her next. ♪ anna: welcome back. you are watching "countdown." here are the stories that you need to know this morning. stocks are extending the rally that we saw in the u.s. as global financial markets show resilience in the face of the paris attacks. indices from australia to japan have risen after the s&p 500 rebounded from three days of losses. the history of terror attacks over the last 15 years shows that market reactions are increasingly short-lived. france has destroyed islamic state command center in northern syria. the french defense ministry says 10 planes were involved in the raids overnight. french president francois hollande called on the u.s. and russia to forge a new alliance to destroy islamic state. volkswagen's european market share declined in october. that was the first month of sales and their emissions scandal became public. carmakers on the whole saw sales in europe rise. liberty global has agreed to buy cable and wireless communications in a 3.5 billion pound deal. shareholders will get a special dividend when the deal closes. on that subject, i am pleased to say that we are joined by their ceo. phil bentley joins us for an exclusive interview. michael brown, director of investment has also joined us. good morning to both of you. welcome to the program. phil, congratulations on the deal. are you pleased at the price you managed to achieve? ebitda, got 12.5 times which is a good price for cable tv assets. forces withng liberty global, the largest international cable player in the world. they bring a lot of content to us. they bring scale to us. i think it will be good for our people. i think it will be good for our customers and good for our u.k. shareholders as well. the market has gone from 1.1 billion two 3.6 billion. anna: liberty global being outstanding custodians of the business. they take carek of their businesses. i think they look after their people. they share a lot of philosophies with us, which is enjoy the work that you do, really be passionate about your customers, and invest in technology and content. those were my words. anna: are you and your team sticking around? phillip: the deal will not close until the second quarter of next year. we will get to the regulatory and shareholder processes and after that, we will have to see what happens. as liberty said, cable and wireless have a good management team and that is probably why they paid 12.3 times ebitda. anna: to get you. phillip: we will see. >> it would be quite a slow process as we move country by country by country. how confident are you? have you had talks with your regulators? have you gotten that sorted out or will that be a step-by-step process? we have been here before because we bought a business called columbus. they were a mobile voice provider and they were cable tv. -- and we were cable tv. there is not an overlap in any the markets we operate in. there will not be any competition in any of the markets. to test is about suitability hold a broadcast license. i think that is a much easier test to pass. it will take time. we have to work with those regulators, but i think it will be an easier process than last time. anna: i am sorry. carry on. >> what does this say about the position of the smaller telecoms and tv operators around the world? is it the fact that you are short of content and someone like liberty has an enormous amount of content? phillip: that is a great question. i think content will be king. technology is important. ericsson inco and talks. you have tell -- alcatel. a lot of vendors are consolidating and we are on the other side of that, buying content from them. you are right about content. we have just won the barclays premier league for distribution rights in the caribbean. that does not come cheaply, as you know. you have to trade over the better returns. you build a platform and then you use your financial clout to buy better content. is that the way it works? phillip: discovery and lions gate, a film studio, they have access to a huge amount of content. obviously, if you are buying from netflix, you have 27 million customers, which they have got. tv, we have 400,000. they bring a scale that we just do not have today. anna: in your conversations, were you ever concerned about culture? john malone cited a lack of cultural fit with vodafone. do you see similarities? phillip: every company has values. it is all about being passionate with customers, working as a single team, enjoying what you do, and really excelling, being the best you can be. they are very much liberty cultural values as well. i do not think we have any problems there whatsoever. anna: any insight as to what liberty might be going after in europe next? they were talking to vodafone. i think where they will be heading is into the latin markets, which is where we have been expanding. we have been doing business in peru and ecuador. columbia is a big market, central america. economically, they are growing fast. anna: 36% i read. which businesses are those? caribbean,ross the people are now getting into smartphones. initially, they were not affordable for most people on the street. $100e can get them down to in their markets. that becomes affordable. >> let me talk more about where they are going to we have another big generational change in the next three or four years. it will make your smartphone as fast as your pc. doesn't that change the whole basis of how a company like liberty global, without really owning a big smartphone operator? phillip: well, we are a global player. -- mobile player. content will be increasingly consumed on the go. one of the reasons we bought into barclays premier league is because our customers want to see the goals and the life scoring on their mobile phone. use of data is the way the product is priced. we have lte in a number of our networks, superfast download speed. i have a small place and we get faster download speeds in jamaica, barbados, and the cayman islands, which is unheard of here. anna: i have better reception in the desert in jordan. help us deal with the different emerging-market stories you are dealing with at the moment. you have a big presence in the caribbean. a large part of your business is in central america. latin america and south america, is there concern about some of the growth stories? do you experience any weakness at the moment? at the moment, and latin america, except in panama, where we have a 50% market share, we are not trying to get into the mobile business. you have some very big players there. what we focus on is business customers. this deal with liberty, they have a health -- a lot of multinational customers. we can carry all their traffic to their outposts in the markets. we have backhaul, all the submarine cables and messages increasingly being important. we have a very strong submarine wholenetwork across the of the region. i think that will increasingly be seen as a real crown jewel. is the structural story outweighing any cyclical concerns about emerging-market week? phillip: they are still underpenetrated markets with momentum for growth. you look at a market like panama , we had a lot of banks expanding in the region. insurance companies, financial services on the conductivity. anna: congratulations on the deal. there is a lot of history on the block. you don't go back to the 1860's, but your business does. the weight of some british telephonic history. 1980,p: when i joined in cable and wireless was a bigger company that bp. it did spend the globe. i only joined a couple of years ago. we are what we are. that was a focused business. we sold the monaco business. we sold macau and focused in the region. at the end of the day, it is about giving customers good service, looking after our people, and creating shareholder value. to $3.61.1 billion billion in two years. we would love to carry on doing , but the reason why someone purchase us for 12.5 times ebitda, we are a good business. anna: great to get your thoughts . congratulations on the deal. just want to give you a few -- the were coming through from manuel valls. he is speaking on french radio and saying that there could be accomplices in france and belgium, referencing the terror attacks that took place on friday. saying we must stay focused on those investigations, going on to talk about how almost know must knowe -- all that we are threatened. we will live with the terrorism threat for some time. those of the words of the french prime minister coming through this morning, speaking on french radio. we will be live in paris for an update on things as they develop in paris and belgium. raids conducted across france over the past 24 hours. what do the terrorist attacks in paris mean for the political direction of europe? we will go live to berlin had asked the important questions. that is coming up in just a little while. just half an hour until the start of the european equity day. the only way to get better is to challenge yourself, and that's what we're doing at xfinity. we are challenging ourselves to improve every aspect of your experience. and this includes our commitment to being on time. every time. that's why if we're ever late for an appointment, we'll credit your account $20. it's our promise to you. we're doing everything we can to give you the best experience possible. because we should fit into your life. not the other way around. anna: welcome back. you are watching "countdown." here are the stories you need to know this morning. stocks are extending the rally we saw in the u.s. as global financial markets show resilience. indices from australia to japan have risen after the s&p 500 rebounded from the days of losses. the history of terror attacks over the last 15 years shows market reactions are increasingly short-lived. meanwhile, france has destroyed islamic state command center in northern syria. the french defense ministry says 10 planes were involved in the raid overnight. earlier, french president francois hollande called on the u.s. and russia to forge a new alliance to destroy islamic state. the global has agreed to by cable and wireless communications industry 5 billion pound deal. shareholders will get a special dividend when the deal crosses. we are less than 30 minutes until the start of the european trading day. let's have a look at how the picture is shaping up. it looks as if we will see a bit of a rebound. else a prize when you consider what happened in the u.s.. last night, we were up by more than 1% on some of the indices in the united states. a decent performance for the dow . we are seeing some big swings in markets right now. if you hone in on the middle of the chart, you can see the numbers and green that suggest we will be up around 1% at the start of the european trading day. the asian session has been broadly positive. we have come off the highly sought earlier in the session. let's talk to mark brown. he is still with us. experiencend us your . when we are looking at the tragic events of friday, we saw the market reaction yesterday, a knee-jerk selloff and then a quick rebound. michael: the selloff did not last for all of 10 minutes. our second-guessing the next move up. the problems we have with yesterday's movement, the volumes are very low. put too much store in this particular bounce at this point in time. anna: what are you looking at as the repercussions from friday's events? are you thinking travel companies will be hugely disrupted with the results of this? the growth story in europe becomes perhaps consumer spending retrench is a little bit. does it have brought economic implications? michael: i do not think so. the sad part about europe is we have been here quite a lot of times before. you think of madrid and the whole 1980's and 1990's. we have been here before. we are sadly used to this, legal attacks. it is something we has been -- we have been able to deal with with authority going forward. od of will be a peri retrenchment. some people from outside europe are canceling trips to paris at the moment, but i think things will return back to normal because that is the way we have been over the last 30 or 40 years. the real issue is a much bigger the wholech is economic environment, which is clearly slowing at this point in time. anna: let's interrupt this conversation to bring you up-to-date with some of the comments coming out of manuel valls, the french prime minister, speaking on french radio. saying that france will not respect its european budget tyrants -- targets. this ties in with what president hollande was saying about how security is more important than these european budget targets. he is saying that we still do not have the whole view of what happened on friday. all must know that we are threatened, he said, and that new attacks will -- could occur. he said they will live with terrorist threats for some time. we will be live on the ground in paris and brussels with updates through the day. let's talk about the implications of the paris attacks to europe's political leaders. bloomberg's germany government editor joins us now from berlin. good to see you. angela merkel, much talked about how she is going to respond to this. she just returned from the g-20 summit. issue bringing anything back to tell the german public? will her stance have changed at all? >> i think it is evolving in the sense that germany and the eu are trying to redouble efforts to get some kind of agreement with turkey to help stem the flow of refugees. merkel talked about that in her press conference in turkey at the g-20, basically saying that illegal migration, as she called it, it needs to be curbed. this is seen in germany as kind of a code word. it is not a u-turn, but kind of a code word for getting tougher and imposing more control on the stream of people coming to your. -- two europe. -- to europe. anna: how have the terrorist attacks influenced the debate around refugees in germany western mark even though her popularity has fallen, she is still way more popular than any other european leaders in their home country. tony: that is absolutely right. her popularity is not at the lows that she reached during the eurocrisis, for example. it is very difficult. how do you -- who really wants to conflate the terrorism issue and the refugee issue? even her most ardent critics in germany in her own party group have backed off for now. because just be a truth there is still going to be pressure on her to some cap -- to somehow restrict the flow and also to deal with the ones who have already arrived. maybe the one last point is that what we are going to see tonight end severalill senior cabinet members attending a soccer match in germany against the netherlands, which is being billed as a sign of solidarity with the french. the sign is that the german team is playing france when the attacks started outside paris. aftera number of games this evening. tony, thank you. let's return to the corporate news story. easyjet has posted a record full-year profit after a boost in summer ticket sales more than made up for disruptions earlier in 2015. joining us from london in her first interview of the day, carolyn mccall, the ceo of easyjet. great to speak to you. thanks for joining us. could you give us more detail around your guidance? thedo not want to steer market in a drastically different direction right now. you say you look positively at the long-term outlook. carolyn: i think that is absolutely right. our results are very good. brilliant people at easyjet. it has been driven by ticket prices are down you run year, so it has been made up of people spending more money, a lot of ing with us and spending more when they do. that is what gives us confidence on the outlook going forward. we have just said that we are using our purchase rights and purchasing 36 more aircraft. the reason for that is we have been able to replace some of the old aircraft and will use the remainder to expand and deepen our strategy across europe and the markets that we are already in. there are lots of growth opportunities for us, whether that is with the netherlands, switzerland, germany, france, taly, spain, and the u.k. all of those markets appear very strong to us at the moment. consumer spending is up and the economic outlook has improved. anna: you mentioned expansion plans in various parts of europe . i wonder if you could update us on whether that has had an impact on your business, even in the very short term in terms of bookings different? we are the number two overne to france and have 1000 people working in france. our thoughts are with their friends and families. many of them have been directly affected. it has been very difficult. i think that we are doing everything we can for passengers. if they want to reroute or do not want to fly, we are being very sympathetic and sorting that out. post-7/7, post-9/11, tragic events, people do go back to flying. passenger demand is high. it will continue to be high and people will want to continue to lead their lives. traveling is part of that. it is very easy to get on a plane. events,ss of tragic there is a short-term effect and that is what we would expect. over the medium to long-term, as with the other events i just mentioned, things will get back to normal. anna: you have had some dealings with trying to get passengers attackter a potential situation in egypt recently. do you anticipate further security controls to flights outside europe getting increasingly difficult for the u.k. authorities taking more of an interest in security of airports outside the european borders? is this something that will change the way that you do business? carolyn: i do not think it will change the way we do business, but it will be very assuring to passengers that the u.k. government is involved in wherever british passengers fly, the airport security is as tight as it can be. they are auditing their own security experts. i think that is. -- that is very reassuring to passengers. two things. the government identifies airport security is not as good as it should be. they are influencing and involving themselves to tighten that security. the other issue is security awareness and the security regulations will be much tighter following the tragic events in paris. anna: back to the business drivers. what level of price cutting are you expecting to see into next year as the benefits of the lower oil prices is felt by ?hese airline companies do you expect a lot of price cutting in your sector? carolyn: price is all about demand. the demand environment is very strong. it depends on the roots you fly and the time you fly. they will be some very good fares on offer. it does depend when you fly. if you are going to fight peaks season, although the fed might be lower the run year because of the price of fuel, there will be quite a lot of demand for those seats. it is all about the demand. our pricing is entirely demand-led. it will be a very good time for consumers. i think the euro rate seems to be in favor of the british customers, certainly. i think fuel will drive more capacity in the markets. there will be more fine. -- more flying. pricing is all about when you fly and where you five. anna: the subject of the brexit is very topical in the u.k. are you making contingency plans? your business could be affected. are you making any plans about it possible grexit -- brexit? carolyn: every company who is active in europe is thinking about the implications. we have certainly come out and said that we believe it is miles better for easyjet to be in europe and certainly better for consumers of air travel to be better in europe. fares are 40% lower as a result and 170 percent more routes have been created as a result of aviation being deregulated in europe. there are a lot of consumer benefits. we are making sure that people understand the consumer benefits of being within europe. of course, we are looking at the implications for us if we were not. anna: thank you very much for joining us. the easyjet ceo. from frenchcomments prime minister manuel valls on french radio, talking about how france will not respect its budget target. comments from francois hollande yesterday. we still do not have the full view of what happened on friday according to valls. we will take a short break on "countdown." further analysis of what has been going on in paris and we will get to the market open on tuesday morning. ♪ anna: welcome back. you are watching "countdown." here are the stories you need to know this morning. stocks are extending the rally that we saw in the u.s. global financial markets showing resilience in the face of the paris attacks. indices have risen as the s&p 500 rebounded from three days of losses. lasterror attacks over the 15 years show market reactions are increasingly short-lived. destroyed france has islamic state's command center in northern syria. the french defense ministry says 10 planes were involved in the raid overnight. earlier, french president francois hollande called on the u.s. and russia to orange and new alliance to destroy islamic state. easyjet pretax profit rose 80% to 686 million pounds. that is as the sales increase more than made up for disruptions earlier in the year, including labor unrest, air fires, and terrorism incidents. we are moments away from the start of the equity trading day. which stocks should you be watching? >> i am starting with cable and wireless. we might see this move higher after liberty global agreed to for $3.5ecoms company billion. as part of the deal, liberty global will take on their net debt. cable and wireless get a special three pence per share dividend as the deals closed. you spoke to the ceo earlier. he seemed pleased with the $5.3 billion and said that the deal with liberty global would break content and scale. cable and wireless has already been the second-best performer on the stoxx 600 telecoms index this year. it is up almost 50%. we might see the shares move higher on the open on news of that deal. moving on to volkswagen, european car sales showed a 26 straight months of gains. industrywide sales rose 2.7% in october. volkswagen declined .8%. its market share in europe declined in october for the first four months of sales after the emissions scandal became public. we could see volkswagen move on that. finally, looking at easyjet, it posted a record full-year profit. this was after a boost in summer ticket sales more than made up for disruptions earlier in the year that included labor unrest, airport fires, and terrorism incidents in two of its markets. full-year profit was at a record. anna: that sets up our next conversation very nicely. --are joined by carry longer kari lundgren and michael browne is still with us at well. what have you made of the numbers with some time to reflect on them? are always cautious about what they say, but they seem confident that they are well-placed to tackle the additional capacity at the lower fuel prices. they will be adding about 7% of capacity over the full fiscal year next year. seems to be confident that they are well-positioned in the airport that they need to be. they have carved out strong positions at primary airports and are making themselves sort of the best option for business travelers that want to travel cheaply. about howied to ask weak prices are going to get. that is something that you are interested in. michael: i think prices could be down between 7% and 9% next year. everyone was having a great year this year. the demand is not infinite. therefore, there must be a price war. the german roots are going to be the big bonfire. anna: we heard ryan are talking aggressively about -- ryanair talking aggressively about expanding. kari: both have it in the targets and i do not think luf is going to let itthansa -- lufthannsa is going to let it g. 20% of their capacity is in france. 11% in paris. arolyn seems to feel that these things happen. people continue to want to travel but it is another thing they have to get through and deal with. anna: a lot of sympathy for the people affected. they have a lot of employees in france. thank you. and search --take take center stage this december. will the fed tightened as the ecb eases? jonathan ferro spoke exclusively to and ecb executive board member, who sees a risk that investors will lose faith in the central banks inflation goals. >> you have to absolutely be sure that inflation expectations remain anchored. that would complicate hematocrit if markets would revise structurally downward long-term inflation expectations. anna: jon ferro conducted that interview. he joins us along with michael brown. we talked about a little bit he is expressing some concerns that consumers and investors might start to lose faith in the ecb's ability to get inflation backup. jonathan: if i stood here and said in two years, the short to medium term in -- inflation makes its target and keeps progressing, their credibility is going to take a hit. he cannot keep saying they are going to get back to 2% and keep failing. it is not so much about the data as where they came in at the moment. yesterday, data was better than anticipated. it was about low inflation. when that becomes embedded -- when we sit down at the end of the year and get a real increase of wages, that nominal increase in wages. if the low inflation numbers economy,bedded in the consumer confidence is a big concern for them. not just what investors inspect -- expect, but the real economy as well. anna: a lot to factor into their decision as to whether or not they do qe. they cannot wait to find out what the fed is going to do first. no, they cannot. you are going to be really disappointed about your inflation numbers over the next 6-9 months. that is going to ring the alarm bell for the ecb. you can argue that draghi is already panicking a fair bit. anna: some of the secondary effects of weaker oil prices have not come yet. we do not even get a clean number on inflation. jonathan: -- michael: all these companies saying please hedge, they did. hedging against oil prices as well. that is the part that everyone has forgotten the driving rates deeper into the red would be very negative. jonathan: yesterday, from the interview, they still are not aware of where the lower bound is. that is a big change. we were told months ago that they were at the lower boundary we know that is not the case anymore. market participants are trying to work out, where is the effect of lower bound? if you look at the french and german curve, how much lower can they go? they keep going lower. anna: thank you very much be jonathan ferro throughout the day with his in -- his interview about inflation. michael browne, great to have you on the program. it looks like we're going to open up on these equity markets and we are expecting positive. just got back over 1% higher on euro stocks. not a surprise when you consider how strong the u.s. session was yesterday. i will leave you in the hands of the "on the move" team. see you tomorrow. ♪ jon: good morning and welcome to "on the move." moment from the start of european trading. the security pact trumps everything. the french government says it will step up spending on security. the commodity crunch. crude heads back toward $40 a barrel and copper and if four-year low. and the central bank could lose credibility if inflation goals continue to slip. the euro drops to a seven-month low. 100d of the open, the ftse is in the green. in the fx market, one headline, the euro dropping toward a seven-month low. let's get straight to your morning market open right here on bloomberg with nejra cehic. horror of those attacks in paris is very fresh in our minds but for markets today it seems it is back to business. in the past we have had terror attacks and we have seen the reaction and markets has been sharp and short-lived. in europeity markets start to recover even two hours into trading. we saw u.s. stocks jump yesterday and asian markets have been recovering. let's look at what is happening with the european open. see if the resilience is back. it looks like it is.

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