marija: not really.y sector is the worst performing sector in msci europe , probably for a reason. . those companies are really struggling. it is very challenging. prices is ain oil big component in it. global growth, concerns a big component. say, it is very difficult to be more positive on oil prices at that stage. we know demand is slumping, economy is slowing. definitely a slowing economy. on the supply slide there is a glut of oil. the u.s. is the biggest producer now and they can pump as much as they want, so it's very difficult to see kind of major improvement of the supply-side. demand is going down. not very positive on oil price. energy stocks don't come out very well. be just ad it recovery in the oil price that will make you change your views on the majors? marija: i would say oil price is probably the biggest driver. on the margins, other things do help. it is part and parcel of this bigger idea of growth versus value. energy stocks are very cheap for a reason. it is very difficult to make m

marija: i love growth. nejra: right. marija: that's my trade.ng really well for a long time. i still think that it will come back. i think still it is hopefully kind of a short-term pause in the longer term cyclical trend. slower economic growth, slower interest rates. think -- we are still uncertain about value stocks. you do need to see massive performance in earnings outlook. it is not there. we do not think we are ready to give up on the growth story. nejra: marija veitmane from state street staying with us. bps lower oil prices way on third-quarter results? we speak with the ceo after the report this morning. tune into bloomberg radio live on your mobile device or dab digital radio in london. this is number. ♪ -- this is bloomberg. ♪ whether you're out here on lte. or here on a wifi hotspot. xfinity mobile has more coverage to keep you connected to what matters most. that's because it's the only wireless network that automatically connects you to millions of secure wifi hotspots and the best lte everywhere else. switch now and see how you c

good luckl, marija, with the calls. be left on the sidelines and unexposed, a good story. marija, well done. joining us the past hour, from state street. one panel and one destination. the lady of boyle herself is moderating. she has got the -- the lady of oil herself is moderating. she has got more. ♪ manus: good morning. from bloomberg headquarters in dubai, i am manus cranny. little stocks slide after more disappointing u.s. data. could a third rate cut from the fed be in the cards? we will hear from the chicago fed president, charles evans. and some european exports americans will pay more for, new tariffs on a wto ruling. johnson passed his new brexit plan in parliament. does the prime minister have enough support to finally get a deal over the line? ♪ manus: welcome to "daybreak: europe." ledking news, the lady who the scene for quite a considerable period of time, allison cooper to step down as the ceo of imperial brands, as this is a tough industry at the moment, going through a huge number of changes. cooper wi