michael field is european equity strategist at morningstar. hello to you.king about growth and as way to reform regulators, cma in particular. reform regulators, (ma in particular-— reform regulators, (ma in particular. what difference will it make? _ particular. what difference will it make? it _ particular. what difference will it make? it is - particular. what difference will it make? it is a - particular. what difference will it make? it is a good l will it make? it is a good question, sally. in some ways you have to look at the motivation for doing this, obviously they do want to improve the growth profile of the uk so picking a day in which gdp was released and the figures not being spectacular is probably a good starting point but, like the other measures you have discussed that the government have read implemented, this is something that probably will not feed through the system for quite a while if indeed it has a large impact in the first place. to what extent has the cma and its methods of regulating business and take etc in the uk held back the

dan thanks for joining us dan kemp cio at morningstar. cap gemini shares are trading near the bottom of the stoxx 600 this morning. that's despite the french i.t. firm reporting a slightly better than expected result on the top line, with full year sales falling by 2%. however, the outlook is weighing on the stock, with analysts at jp morgan describing the guidance as slightly less optimistic than previously estimated. speaking with cnbc earlier, the ceo of capgemini described some of the headwinds at play. >> in europe. >> the manufacturing. >> sector has been. >> pretty subdued in the second. >> half of the year. >> investment have decreased quite a bit and. >> clients are. >> really scaling back in. >> terms of their investment. >> i mean, we are. >> highly exposed to the auto sector, which is. >> really. >> under pressure, you know, in europe. but i see manufacturing in general and france, the level of activity. has decreased quite a bit in the second half. >> instability. >> you know. the fact that. >> we didn't. >> have a. >> govern

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