Cash flow really strong we were 2. 7 billion pounds, over a half billion more than last year and this is what gives us the confidence in raising our guidance in Margin Expansion and in initiating a stock buyback this year of 1. 5 billion pounds. Astrazeneca shares are set for their worst oneday loss, after a key lung cancer study fails, wiping 13 billion off the drugmakers market Cap Deutsche Bank shares fall on a 10 drop in revenue, as the german financial giant suffers the same fate as itself u. S. Peers with a slump in fixed income trading well speak to the ceo, john cryan, at 11 00 cet. Downstream powers shell to a beat, as the oil giant more than triples its profits in the Second Quarter Ceo Ben Van Beurden tells us the Energy Market is regaining stability. Bhafrnlg bhafrnlgts. What we are seeing is a market cents essentially in bale market is growing fast probably more next year. And longterm supply is declining. I think we need to discuss this astrazeneca story more. Astrazeneca
Poor timing. Shares in swatch ticking lower after a fullyear net profit loss. But the companys ceo tells cnbc he sees a return to growth in 2017. Shares of novo nordisk slide after the danish drugmaker lowers its profit and Sales Outlook for 2017. Good morning, everybody. Welcome. Glad youre with us. We have another very busy day already underway with loads of earnings, lots of talking points. European equity markets this morning slightly mixed. We opened on a lower note across europe. Right now looking at some markets point together upside. The likes of the ftse 100, the ftse mib also seeing slight gains. The xetra dax and cac 40 lower. Deutsche bank being one of the main fallers out of germany, off by almost 7 , 6. 5 . When it comes to the sectors and where were seeing selling, healthcare off by 1 . Telecoms down 1 . Auto is off the most this morning. Financial services and banks also off by a half per st. Technology pulling up, travel and leisure hanging on to brightness. Lets talk
Corner. Its something we need to navigate through with a steady hand. The Power Grids Division is delivering, now its up to us to make this sustainable Going Forward. Rio in recovery. The commodity bounce back boosts rio tinto earnings as the mining giant raises its dividend and launches a share buyback. And Fourth Quarter sales miss analyst estimates, difficult Market Conditions are seen in the russian and eastern markets. Well speak to carlsbergs ceo in an hours time, 11 00 a. M. Cet. Hi everybody. Good morning. Glad youre with us on street signs. Just want to get you up to date on whats taking place out of india. The rbi keeping Interest Rates unchanged at 6. 25 . They state uncertainty surrounds the u. S. Economic policies at the moment and that changes theyre changing their stance from neutral to accommodative. 5. 75 , and Growth Prospects for the developing economy is improving. A lot of people are saying the upside in india could be more when looking at some of the emerging Mark
Lufthansa cuts profits, unilever breaks. We hear from the ceo in just a few minutes. Is not in the office in berlin. Shes outside the ecb in frankfurt. What are going to be the highlights today . The highlights are going to be the questioning, the barrage of questioning. Its damp in frankfurt and in terms of policy changes; its expected that the ecb will hold fire, wait until september, wait until it can read the tea leaves of the way the economy has been potentially hit by brexit. There will be questions about the impact of brexit, the slow down on the eurozone, the questions on the 80 billion euros of bond buying. Yields far below the deposit rate. What can they actually get their hands on at the moment . And of course, there will be questions about his hometown, italy, and the banking crisis there. The light of brexit shining on the italian banking concerns. Guy yeah. Another tough press conference for mario draghi. If he thought he would get a nice, relaxing one, turns out brexit a
Stock exchange. We await for a fed meeting to begin tomorrow. China slips 3. 5 overnight. Japan leaves policy unchanged. Back here, retail sales okay. July revised up. Good auto sales offset by lower spending at the gas stations. Ahead of the rate decision, former central bankers are out today with more pronouncement force the fed. Asia continues to suffer. Shanghai down 3 as the bank of japan holds on a rate move. An upgrade forfe fitbit. More data for the fed to digest ahead of the twoday policy meeting set to get underway tomorrow. Retail sales up 0. 2 . Last month stripped out auto sales up 0. 1, that marks six consecuticon seco consecutive months without a decline. How does this get digested at the table tomorrow . The areas that are strong in the economy are rate sensitive. Autos, housing. I know a lot of people say bring on the rate increase. But you just mentioned where the strength is. That strength can be taken away. It can be taken away by a belief that unless the statement