we have asml. nejra: we do.s largest semiconductor equipment maker has forecast first-quarter sales that are well below analyst expectations. the dutch company is a seen as a bellwether for the chip industry, so i am delighted to say that joining us now on the phone from his first interview of the day is the companies ceo, peter benning. great to have you with my and manus in dubai this morning. as a bellwether for the industry, we will want to ask you about the trade wars, but first, let me ask you about the capex cuts announced by samsung your big two of customers. are you having to do anything to upset that right now? peter: first of all, also good morning to you. the announcement of our major customers is a reflection of where the industry is today. we are seen a softening of the industry starting in the second half of last year, and it is continuing, and i think it is clearly a result of the uncertainties we are seeing today, which basically are calling the trade were between the u.s. and china -- it is def

asml down about 13%.omberg intelligence says they expect more volatility because they say that we have not hit a bottom just yet. and cement, which did report during the day today. they did eat here for the fourth quarter about four cents an after hours are up about 1.4%. it was not so much the fourth quarter that people were looking at. analysts were looking at the first quarter revenue guidance. $3.34 billion is what came in. 1.60 billion is what people were expecting. that was a mess, but according to bloomberg intelligence, this miss was not as bad as people were expecting. the expectation was for $1.21. the tax rate is a little bit lower. one thing happened in the terminal, it seems like what is happening with texas instruments here in white seems to be doing better than the semi conductor index in total, which is here in blue. you can see that it has been outperforming for january and for a good part of december. it was sayingober performance on par. but right now it is definitely a little bit of a

asml for the second day. it's really a story of tech stocks plus you have some oil stocks there. doing well carmakers are seen already. taking a look at losers, we heard about the bad taste that couldt on -- thatgibodan leave in investors amounts. -- you also see astrazeneca and some of the staples, unilever and br geo. at up -- on a risk on day, that's not necessarily a bad sign. talk about the bigger picture perspective. we see them jumping on the positives around technology. was the big picture for you? david solomon says he see's good prospects for underwriting this year and he downplayed concerns that growth in language loan markets is a risk. at davos.o bloomberg >> our underwriting book is not inconsistent. it's the same as his been over a number of years. it's below levels that were higher at central points -- certain points. there's no question that leverage finance activity has slowed a little bit based on the slowdown in the latter part of the year. we feel very good about the commitments we do have. there's a lot of talk of whether we should leverage loan growth. i do

asml also to the downside, the bad day for chipmakers.ad across with what we saw in asia with a taiwanese chipmaker. revenue and market how that came in well below expecting. sector, banks and autos are looking hit. we could see carmakers under player -- under pressure. ,he president of united states president trump, is inclined to slap tariffs on european carmakers. that mean 25% duties coming in. fortunately, i have moved here. theresa may is holding cross patty talks in an attempt to break the cross party deadlock. eu hasrg sources say the told may she must radically read take redline to reach a new agreement. joining us for the european reaction is bloomberg's maria tadeo in russell's. may fromw far is having an actual plan b? does she just prefer to adjust plan a. >> she is very far from having a plan b and it is quite telling that european leaders expected .er is because they wanted to see a plan b that looks completely different to what they have on the table. the sale of this point, there is nothing they can do to flip 200 votes i

you can see in finney on is down, logitech, asml holding. that's to the downside. the first word news now. apple has lowered its revenue outlook for the first time in a was 20 years. ceo tim cook says the company now expects sales of about $84 billion in the quarter just ended. down from earlier estimates of 89 to $93 billion. apple did not see them attitude of the economic deceleration particularly in china. he also cited fewer than expected upgrades to iphone. the product is possible for about two thirds of apple's revenue. leaders have failed to strike a deal to end the partial shutdown of the u.s. government now entering its 13th day. the president says he remains willing to work with democrats and advise them back on friday. democrats take control the haslinda today and will vote on a plan to end the shutdown without funding transborder wall . -- funding trump's border wall. survey,g to a bloomberg leading member saudi arabia trimmed output by 2400 barrels a day in december. investors remain concerned the cartel won't cut enough to make

lamb research, asml holdings, applied materials in tokyo, electron, these are the year to date or theear rather share price falls in these four stock prices. you can see right across the board, tokyo electron down 40%. all of these have revenue that they rely on from samsung on the order of about 23% to 27% for applied materials which is 13%. switching up to other things in the supply chain, cannon, look at that. down 29% in the past year. they only get 3% of their revenue there. a.u. gets 13%. you can see it's down 4%. fanuc down by about 44%. it gets about 5% of its revenue. that is the smartphone producer, one of the world's biggest robotics company. of course this also has a question of how this knocks on in terms of south korea's economy, in terms of south korea's market. right now it accounts for about 14.8%, nearly 15% of south korea's market. >> yeah. a massive weight there. sometimes a headwind looking like a tail wind there at this point. ramy there with the latest on samsung, that miss in the fourth quarter numbers. let's get you the latest on the aussie markets now. we'll