matt: sergio ermotti there.e hickmore in studio, senior investment manager at aberdeen asset management. i think the market is taking this positively. ubs a-shares gaining. sergio ermotti it is hard to believe when he says -- it is hard to believe sergio ermotti when he says they do not look at net new money on it quarter to quarter basis. they look pretty good in -- to analysts that we have already talked to across london, the city, and the consonant. european banks appeared to be doing better. luke: you have to be pretty picky about where you go with european banks right now. we are getting a lot more picky. spanish banks i think are quite interesting, and maybe occasionally the german bank. matt: something gone, you are looking only for train wrecks? luke: yes, often that is the case. in 2009 the entire banking sector was a train wreck. we spent the last 10 years improving, and balance sheets have been getting better. now you kind of do need to look to those train wrecks. matt: you are saying some spanish ban

from sergio ermotti throughout the day.et you straight into what's happening in markets when it comes to the futures picture, because we are getting the positive seed from the asian equity section. a couple of things to look out for. european banks, wealth managers , a very strongts third-quarter guidance. nejra: financials outperformed in the u.s. as well, pushing the s&p 500 higher. we see those gains in the asia-pacific index. materials are outperforming and chinese equities as well. efforts from chinese authorities to support the economy, impacting bond yields and the ui and -- yuan, blowing past that 6.8 level. i've got the 10 year treasury up because we saw yields rise. steady in this session along with the 10 year u.s. yield, which trades at 2.95%. we did see that rise six basis points in yesterday's session. that march toward 3% on the u.s. 10 year. let's see how that is feeding into german and french bond futures. relatively steady picture for a lot of these key metrics. bund futures just barely called lower by a f

mark: sergio ermotti, chief executive of ubs.his is bloomberg. ♪ vonnie: shares of peugeot surging today after posting strong earnings. the ceo spoke to us about the results and in the impact of tariffs. carlos: it is a chaotic situation and it is making us humble. what was true a few years ago may not be true today. so for the timing, we want to be recognizing that yes, we are performing well in europe and europe is a place where we understand our customers, where we can make great products with great technology. and that is the reason why we are such a big player in this market. that does not change our strategic plan, where we want to become a global carmaker with cutting-edge efficiency. that means we will continue to develop ourselves in other parts of the world, china, latin america, africa, the middle east and in india. this is what we are doing now, but for the time being it is good to be a european carmaker and make good creations in europe. >> is a good in the long term? carlos: our interest is to be fragmented in our b

we spoke with the ubs ceo, sergio ermotti. >> overall, i'm still positive about it.quarter to quarter basis, and i'm quite confident the rest of the year will be ok. >> meanwhile, ubs investment bank has also had better than expected second-quarter. and doing something with the opel car brand that general motors can do. make money. they bought opel from gm year ago. they say they are now showing a profit and that has psa shares rising the most in six years, and bloomberg had an exclusive interview with the ceo. the operating margin, more than 900 million euros of positive, free cash flow. we can say that it is now visible, and we like to praise the leadership of the ceo, who has been doing a great job in implementing. we can say that each employee's contribution, and i'm happy to see the results. greece, the death toll from wildfires near athens has risen to 49. more than 100 people have been injured. the fires are being spread by winds reaching 50 miles per hour. hundreds of people fled to nearby beaches so they could be evacuated by boat. i'm taylor riggs. this is