i'm julianna tattlebaum and these are your headlines >>> europe's rally fades >>> tesco shares jump towards the top of the stock 600 as the retailer beats expectations with a more than 2% rise in christmas sales. >>> eriksson slumps as they set aside 6 billion swedish kroms. >>> jaguar land rover is reportedly set to axe thousands of jobs as they suffer amid falling chinese sales and brexit uncertainty. s. >>> european markets have opened in negative territory this morning. they have been trading for about one hour now, and this comes after a relatively patchy handover from asia on the back of some weakness in chinese inflation numbers. this draws stark contrast to the trading session we saw yesterday, not only in europe but worldwide on the back of optimism around u.s./china trade talks and a dovish set of fed minutes around the december meeting. we have heard from both sides, both china and the u.s. now around those three days of talks, and while we have had positive signals from both sides, the bottom line is no deal has been delivered yet. so perhaps part of what is driving european mar