as we've seen dsm outperformed the likes of basf but underperformed the more specialty defensive names. so this is relief for dsm today. >> any regional thoughts on this i just put in to the search engine vitamin price rises, and every single story is about china. >> correct so vitamins -- china has been a major producer of vitamins in the last couple of years there's been major supply changes in china it's a pollutive process to make vitamins so china has taken offline a lot of plants. dsm has been a key ben fesh area been fibeneficiary of this. >> any cod liver oil, geoff? >> no. i think they're synthetic now, aren't they? in the old days they used to extract them, but now it's synthetic manufacturing. >> in the cyclical component of dsm, it's a traditional value story that's been suffering in the last couple of months as people have been concernedabou the traditional chemical business in a way it's interesting to see it, they pushed prices stronger. >> that's the key positive out of the materials story today, they have been able to push through prices in the face of higher input cos

chemicals down sharply, 1.8% basf reporting there travel and leisure at the top, up 0.4%. iag results, healthcare, food and beverage, utilities, the defensive sectors at the top as well nothing trading in green let's have a bit of a closer look into the single stocks and see what the big movers are. first let's look at electrolux willem mentioned earlier shares have tumbled this morning after the appliancemaker slashed its demand outlook for all markets blaming u.s. tariffs while forecasting higher raw material costs for the rest of the year ba banco sabadell third's quart er fell by over 30% it did beat expectations sending shares higher. banco sabadell here trading about 6.5% higher. a relief there from investors. in the construction space, another stand-out performer is lafargeholcim, shares up 4%. big move there lafarge has reported better-than-expected earnings for this period beating on the top and bottom lines iag has topped forecasts reporting a small rise in profit for the quarter. they were hampered by fuel costs which were up by almost 15%. iag trading about 1.8

it's an appalling indictment of this regime that the world's largest company basf has abandoned all further bio technology research for the european markets. their entire resistant potato project has moved to the usa which is terrible news for the uk farmers forced to spray their potatoes dozens of times in the effort of a resistant crop. bio is soon to follow suit and take its biotech research elsewhere. europe's reluctance to adopt the agriculture uses up more land than is needed. u.s. corn yields have overtaken those of france in the last 20 years. now france is missing out on over four and a half tons per hectare compared to the u.s., amounting to a total loss of 6.1 million tons across its 1.5 million hectares. if france had kept pace with u.s. technology, that crop could be worth an extra $1.2 billion to french agriculture or france could free up 500,000 hectares, currently used for the crop and put it to use for wildlife, recreation or forestry. leaving the eu means the uk can strengthen our role by retaking a full seat on the world bodies that determine global regulation at which we

basf has reported profits and missed analysts estimates. they have higher raw material prices. said the trade conflict between the u.s. and china was having an effect on its business. it also flagged the introduction of new emissions standards in europe. and that is your bloomberg business flash. nejra: debra mao in hong kong, thank you. the european central bank's confidence in the euro zone economy is about to face a test before policymakers decide whether to judge the bond program. mario draghi claimed recent weakness is either temporary or remains manageable. joining us now is the senior european economist at the law and general investment management. let us all the turmoil, not forget central banks. mario draghi downplaying the risk in the eurozone. why do you think he did that yesterday? >> in the short-term, he is right to talk about very specific factors. market, for car example. but i think they are quite intent on ending qe, so to acknowledge we have seen it weakening until now would make it difficult to communicate that they want it in their program and we think they