the latest in bank consolidation is that bankia is buying banco mare nostrum bankia plans to raise capital to fund the deal. a lot of red there except for bankia banco popular at zero. > >>>. >>> schaeffler cuts its profit warning. they see the 2017 adjusted eby t ebi at 11% to 12%. >>> stada takeover bid fails the vote was close with support for the move falling just short of the 67.5% required. the chief executive says the shareholder's decision provides a mandate for the company to press ahead independently. let's look at sistema shares they're slumping after a russian court arrested some of its assets in an ongoing legal battle with rosneft. the country is suing sistema for over $2 billion and says the arrest of shares was a security measure. >>> we spoke to sistema's ceo about the spat with rosneft. >> we think the claim is pretty much baseless. i can only state what i see in the papers, what i see in the papers is something that from my point of view does not have a legal basis, and this is something that we're going to prove. >> a dovish mario draghi is defending the ecb's ultra loo

chiefg us now is bankia's executive officer. busyw he has been a pretty couple of days for you.in is accelerating. do you believe we are over the worst? >> i think, yes. in spain, we have been over the worse for some time. there has been a huge conference to ration -- concentration in the financial system. banking it was able to perform better than expected, where we deliver. able to fully exiting we are shutting plans, we are starting a new era by acquiring another bank. francine: i will get back to you and a second. we are getting quite a lot of news from the european commission. mauga vestager, saying google has gotten a record fine of 2.4 billion euros for skewing search results. epts has been the worst k secret in brussels. google ofas accused unfairly skewing shopping results on its search pages. i think the biggest fine after this is basically intel, and they were find about -- fined about 1.26. this is 2.4 billion euros. days -- its about 22 is a big number, but google is a huge company. what will be interesting here is to see how the american large technology companies

take a look at the spanish banks moving higher after state owned bankia agreed to buy the smaller rivall valued at $924 million. the combination creating spain's fourth biggest lender comes amid struggles in the european banking sector carl, back to you. >> all right se seema, thank you very much we've been telling but sib area tacks on wpp and ukraine now merck is joining the fray. they say pe confirm our company's computer network was compromised to day as part of global hack. other organizations have also been affected. we're investigating the matter and we'll provide additional information as we learn more aside from some of the government agencies and merck and wpp, it's a mix of government and private sector enlt thaz are victims. >> that echoes the last time we saw this ransomware attack trying to draw patterns to figure out who, which country it came from as amon said all sorts of chatter, north korea, rush yachlt. >> the big question is to what degree are these companies prepared for this sort of attack if you got your data backed up in a spot out of reach of the malware, perha

think year -- bankia is a nationalized institution. the spanish government's way of time to get this home thinking nationalization story to work better. is pricing that positively. what is interesting is the mining stocks. anglo is trading higher. glencore is up quite nicely. what you have seen overnight is quite a strong bid being attached to the iron ore market and other various markets as well. the chinese premier has painted a positive picture for growth going forward. that has rippled into the commodities market and is rippling into the operating companies. at the see that clearly get go of trade this morning. manus was mentioning what was happening around the british gilt. theresa may came under fire over her plan to protect nationals in the u.k. michel barnier fed the prime minister must offer the same rights afforded under european law. mark carney presents the bank of england financial stability report today, giving an early indication of whether he will take first steps to normalizing policy in the u.k. the bank has different