sergio ermotti reaching a target for the second time this year.o ermotti will join us on bloomberg tv this afternoon london time. tune in for bloomberg radio live on your mobile device. stay with us throughout the day on all of bloomberg's different platforms. this is bloomberg. ♪ manus: asian stocks are being sold off quite aggressively. we are just on 7:20 a.m. in london. futures are open. let's check on those markets. asian stocks, $5 trillion have been wiped off the value. this is the perception of the market. global stocks are poised for their worst month in more than six years. bid.r-yen, yen is a walk in the park for the bond markets. markets,s in equity they are gone. daya: it is an interesting when the btp keeled is one of the least interesting things. up just one basis point. we could see a seventh day of losses for european equities. futures point lower by 0.6%. you talked about gains being wiped out. the nasdaq in correction. october so far the worst month for u.s. equities since 2009. futures point to a higher open. a little bit of an

i'm going to speak to sergio ermotti later.irst of all, in terms of re-jigging the targets, this is a focus for the strategy day. does it look like ubs is that enough? -- has done enough? >> in january day said, we are not going to reject them again. they have pushed the targets by one more year and that will give people the impression they expect the next couple years to not be so good and then they can hit the targets in 2021. has already been a tough ride for investors. year-to-daten 27.7%. that is absolutely terrible. what are investors saying? >> you have to put it in context. it is down that much and it is terrible. .or all european banks nonetheless, ubs has set itself up with a dividend play at the bank which is going to start rewarding investors. if they are not doing that quickly enough, you're going to get people who are saying, this -- banks to move faster has to move faster. ubs has been acting like an oil tank. it is not quite the speedboat investors wanted to be. nejra: run us through the numbers from today. >> w

ubs posts strong third quarter earnings we'll speak with sergio ermotti at 1:30 p.m. central european time more aerhere ft t bak interesting clock. oh, there weren't enough hours in the day to maintain are old data center. so we made a twelve a fifteen. three extra hours. but that really doesn't add hours to the day. yeah it does, look. i'm not sure it works that way, but at cdw we get that time is precious. so we'd access your needs then design a nutanix enterprise cloud. to give you more time to grow your business. yeah that's better. hey we still on for lunch at 15 o'clock? you bet. for private cloud solutions you need nutanix and it orchestration by cdw. plaque psoriasis tremfya® is for adults with moderate to severe plaque psoriasis. with tremfya®, you can get clearer. and stay clearer. in fact, most patients who saw 90% clearer skin at 28 weeks stayed clearer through 48 weeks. tremfya® works better than humira® at providing clearer skin, and more patients were symptom free with tremfya®. tremfya® may lower your ability to fight infections and may increase your r

david: that was sergio ermotti, ubs ceo and speaking with nejra cehic.y are facing hesitation of investors to commit given the range of risks they face in europe and around the world. the ecb announcing his latest monetary policy just 30 minutes from now. we see some of the risks they face. how they are dealing with the italian crisis. on,come candace banks welcome. tell us about the risks mr. draghi is facing. candace: while the decision is likely to be uneventful, the focus will shift to the press conference and the message coming from the ecb. in technology this downside risks. front and center, the italian showdown between the european commission and the populace in italy. we have also seen some of the economic data in the eurozone turnover, a little bit of moderation as well, ongoing trade tensions. a lot of these items are likely to be highlighted in the media and the press conference later this morning. details, trying to see if your looking at the first hike in september of next year. we look at the month until the first rate hike in the eurozone

byernoon, we will be joined the chief executive of sergio ermotti.s for firms were news, here desley. the u.s. mail to be postponed after the mail bombs tom -- that were sent hillary clinton and barack obama as well as u.s. billionaire george soros. the president and his press secretary, according to some, failed to understand their attacks on the media. media also has a responsibility -- trump: media has a against their awful attacks. they have got to stop. bring people together. u.k. prime minister theresa may has survived amazingly conservatives lawmakers of the next rest their loyalty to her book frustration with the -- but frustration with the brexit plan. she said they must "calm their nerves" while she pursues a deal. president donald trump will be briefed by a cia chief, gina haspel, today, over the killing -- over the investigation over the killing of jamal khashoggi continues today. this effort she allegedly heard an audiotape made a big show be theing at least 70 -- of khashoggi killing at lthe saudi consulate. he wants to prevent a diplom

ceo sergio ermotti has hit key financial targets for the second time this year. >> we have to look atto become more efficient. we are doing that. the real story for us is how we free up resources for cost initiatives. to reinvest in our business. that is the reason why we expect our cost base to stay flat, excluding variable compensation. that is performance related and grow our top line. growing the top line is sustained by two secular trends, wealth creation and wealth transfer. and also the opening up of china as a financial market. in general, we see those forces allowing us to grow at least as much as the real gdp growth globally. >> tesla shares soaring as the company reports third-quarter earnings and as elon musk strongly hinted, tesla has made money. the company's net income was $312 million. analysts expected a loss. get this, positive cash flow. $881 million. walk us through the numbers. >> the big thing is that they are profitable. huge. first time they've been profitable since the third quarter of 2016. it is only their third profitable quarter ever. but demand is still r

guy: we will hear more from sergio ermotti in the next hour. that was a bloomberg business flash.nie: still ahead, speaking with it even alan ceo -- with the ethan and ceo -- ethan allen ceo farooq kathwari, and later southwestern airline ceo gary kelly. this is bloomberg. ♪ guy: from johannesburg, i'm guy johnson. vonnie: i'm vonnie quinn. this is bloomberg markets. guy: let's check in on the first word news with kailey leinz. kaylee? a list of -- kailey: a list of targets of suspected mail bombs is getting longer. two packages are being investigated and a delaware postal facility. they were dressed to former vice president joe biden. in new york, the bomb squad removed a bomb sent to a restaurant owned by robert de niro. this comes after bombs were discovered at homes of former presidents obama and clinton, and the new york offices of cnn. president trump says reports of chinese by listening to his cell phone is "so wrong." those spiesicates are getting value will -- valuable insight on how to affect policy when hearing the president talk on an unsecured iphone. the recent real

we will be speaking to the ceo,ays ceo, deutsche bank and sergio ermotti, ubs ceo.t of homework to nejra: we do, but that is it for "daybreak europe." this is bloomberg. ♪ anna: welcome to "bloomberg markets: european open." matt: good morning. chinese stocks soar up the most in two years. u.s. and european equity futures rise as well. can the rally in asia roll around the world as gold and oil rise? the equity markets open in 30 minutes time. anna: btp yields drop after