i'm willem marx. >> i'm julianna tatelbaum. these are your headlines >>> european equities rebound after wall street recovers from the worst day of 2019. but banks miss the bounce as unicredit, commerzbank are weighed down with low interest rates. >>> glencore shares hit a 2 1/2 year low after first half core profit misses estimates thanks to lower cobalt prices and copper production. >>> standard life aberdeen sinks as the british asset manager posts 16 billion pounds worth of outflows in the first half despite some strong market gains. >>> and china sets its yuan fix at a slightly weaker than expected level, the trump team plays down fears of a drawn-out trade war. the nato secretary-general tells cnbc the tension goes beyond trade. >> we need to assess security consequences for all of us of the rising military power of china and also see that china is coming closer to us in europe, in africa. >>> european markets rebounding following a move higher on wall street yesterday a little bit of a mixed session in the asian markets

i'm joumanna bercetche >> i'm julianna tatelbaum. these are your headlines. >>> italian equities sink and the banking index falls to the left level in almost three years after the coalition government teeters on the brink of collapse. >>> the spread between italian and german bond yields hits a five year high >> translator: i've already clarified with minister salvini during our meetings that this crisis he triggered will be the most transparent crisis in the history of the public. >>> wpp shares jump as new business helps the advertiser post better-than-expected sales in the second quarter. >>> and a mixed session in asia as chinese food rises, and the yuan is set at an 11-year low after a choppy week of trade >>> good morning it's a busy friday morning there's a lot to get to. i want to bring you some flashes from the monthly iea oil report. just to look at some of the main headlines, iea cited global oil demand growth estimates has been shaved by 100,000 barrels per day to 1.1 million barrels per day. the global oil demand has ris

cnbc's julianna tatelbaum is joining us live. the president has been publicly claiming? >> well, it remains to be seen. so far, signals do suggest that both sides are looking to resume with face-to-face talks in september. remember, we are approaching the september 1st date when new tariffs are due to come into effect so it's not winding down just yet. but the markets are reacting to the positive signal that this sends, that china's commerce ministry wants to continue negotiations with a calm attitude. so certainly no escalation at this stage, but we are going to have to wait and see. but at this point, positive momentum coming through in stocks and that's due to continue today on the final day of trade of the month. now, one other thing i want to highlight for you. i know you guys are focused on hurricane dorian bracing for it to hit in florida. an update on what we're hearing from the airlines. american and southwest are allowing travelers to change their florida flights ahead of the storm. they haven't canceled flights just ye

related to the overhaul but said it is more than a third of the way through the cost cutting plan julianna tatelbaum joins us wit more detail about the numbers. >> as you pointed the picture there of these numbers, not quite a rosy picture when you look at revenues and net profit versus last year the reason the stock is reacting sopositively is the progress they made on capital this was the key concern for the market coming into today's results, whether they would need to do more to raise capital levels they hit their 12% core tier 1 capital ratio target that they set for themselves for 2020. they already met this target by the end of h1. so good progress there they also made progress on the cost front they are 35% of the way there towards achieving their 2020 cost reduction target. this restructuring program they're embarking on is all part of an effort to improve profitability given the challenges that come with working in a low-rate environment. i had the chance to speak with philippe heim the deputy ceo of socgen and asked if they could maintain this 12% ratio moving forward and if he's feeling

julianna tatelbaum joins us from cnbc's london bureau what can you tell us about what happened >> goodyeah as you say, the uk stocks, they got off to a rough start, the london stock exchange experienced some technical difficulties that delayed the start of trade we are seeing the ftse 100 rally alongside the rest of europe as you can see here, decent gains coming together. this follows a volatile week for european equities. i want to take you to the yield space here in europe we've seen global -- or we've seen european bond yields plummet to record lows across the board. yesterday we heard from olli rhrh rehn calling for a significant stimulus package from the ecb. the ten-year german bund trading at 0.69% one other thing i want to flag for you in the yield space here in europe, we've had so much focus on the u.s. yield curve this week and the inversion that we saw there it wasn't the only inversion in town in the uk we saw yield curve inversion, the 30-year trading down the ten-year gilt trading at 0.46%. looking like we're heading into the weekend on a relatively high noted. >>> comi