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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 ....
Im francine lacqua. Manus and im manus cranny. Welcome back. Francine it is nice to be here. I havent missed anything, have i . Manus nothing much. Francine now we have this technology route. Big disappointment for the tech giants. Manus despite posting record thirdquarter profit, shares in the worlds most valuable company plunged more than 8 in afterhours trading as lackluster iphone sales left investors wondering whether the company can keep making its products. Francine lets bring in Caroline Hyde and paul. Thank you for joining us. Caroline, we have record earnings for apple but because we are seeing some weakness, analysts are concerned that this is the peak. Caroline a record thirdquarter and yet you are about to see 60 billion of market valuation wiped off. That is three times the market valuation of arm holdings in the u. K. It is 10 times that of stmicroelectronics. The concern is, iphone sales disappointed. We saw 35 grow ....
Gas dime was profits of 64 daimlers profits of 64 . Live from europes headquarters in london. I am manus cranny. Smash estimates reporting it welcomed the news for the bank which saw a lot of 700 million francs. Francine lacqua is on location today. She is out and about, catching up with the new ceo Tidjane Thiam. What is the news . Francine we try to quiz him. We have to remember these are not his results. He is only been on the job for 20 days. Once it these figures will lay out the strategy on which he will overhaul the bank. That strategy will be revealed by the end of the year. The key to this is the new strategy should be release some of pressures from secondquarter results. Tidjane performance of private bank is a strong. Driven by asiapacific which we have a strong interest in. They were very pleased with the way things were developing. Profits were up 150 in the Second Qu ....
Im Caroline Hyde. As we were just saying, we are getting breaking numbers from allianz. Just to run you through some of the numbers, the outlook is confirmed on the upper end of the range. This is the number one european insurer, confirmed its fouryear forecast. Of 2e getting net income billion euros, ahead of analyst estimates. The operating profit came in at 2. 84 billion. We are looking at property and Casualty Insurance at 11. 8 billion euros. We will get much more on these breaking numbers with hans nichols. It looks as though the insurance side of things, hans, is missing a combined ratio, that we are seeing better than expected numbers from a revenue perspective. Hans yeah. This that income is a big beat. It is coming in north of 2 billion euros. On that front it is a big beat. When you look at whats happening in insurance, there havent been many natural asasters, s ....
This affects the euro, we saw it to do below are on the dip lower on the back of those numbers. We are trading flat now. Lets have a look at how the dollar is trading, what everyone cause the most important these of data in the world of economics. We have a strengthening of the u. S. Dollar in anticipation of september is the month Interest Rates will raise. Lets have a little look at how costs are faring ahead of u. S. Yields rising . Just a touch. Meanwhile, money flowing into spain, italy, and germany. Pretty much a flat morning when you look across the assets, can see any wild moves. Lets see if we can do better in terms of equity. And all little scattering of numbers, we broke it down down by 1 . Estimates. Lysts still net there are. Utflows seeping out hepoke with the cfo and said this is no longer the effect, this is a readjustment of portfolios. This is the biggest asset manager in europe. They managed to see it in flow bu ....