simon derrick.: the ceo of the lips lighting -- of philips lighting joins us. ♪ ♪ anna: welcome back, everybody. johnson is visiting japan at the moment, making headlines around brexit. he has been visiting the honda factory. let's talk about what is going on me -- on in the lighting industry. the philipso lighting ceo. thank you for joining us. sticking by the full year. i am always drawn to the fact that you technically missed on your revenue enter sales are down slightly. tell me why you are able to steadfastly stand there and stick by the full-year numbers. eric: good morning. thank you for having me. we are sticking to the guidance. at the q2 results, i would qualify them as solid. all our businesses are continuing on the perfect -- profitability improvement. sales grew by 14%. let's take a bit of distance on the growth profile of the company. we declined by 2.4% in the full-year in 2016. we have only declined by 1.3% in the first part of 317. the growth profile of the company is improving, and

we talked to simon derrick earlier on. the boe trumping conversation at the moment.ms to be momentum building toward a transitional arrangements and implementation phase. the trade secretary acknowledging perhaps that would be a good thing. this is a chart we don't often do on this part of the program. the m&a story. that has seemed to gain momentum as well. we have quarterly numbers in terms of the change in m&a volume and deal count. third-quarter numbers not going to look as good as the first or second quarter. really interesting stuff. lots of private equity deals coming through at the moment. an increase in deals in europe. the first half, average premium was some 22%. that was a drop. a lot of interesting things on m&a coming through. seetis we seeabertis -- we abertis in the crosshairs with acb. manus: m&a is definitely alive and well. let's take a look at some of the movers. have a look at this. we have oil services. there,ny at the top they're second-quarter earnings. he raised their outlook for the mining equipment. that was below the estimate. you have tha

joining us for more analysis is simon derrick, a chief market strategist.it is. it's interesting, they were very good results from ryanair, so it's interesting the guidance they we re it's interesting the guidance they were giving is so negative. you dig down a little bit, it really was a case of perhaps the results have been supported by cheap oil prices, the fact the pound had rebounded a little bit. looking forward, one of theissues little bit. looking forward, one of the issues they are concerned about is other cheek dividers are out there who have been supported by easy oil prices. till that issue of those marginal providers in the airline industry starts to be resolved, it's clear ryanair will ta ke resolved, it's clear ryanair will take a cautious view of the outlook. opec meeting today, what is likely to come out of that? i suspect very little. what we've seen over the course of the last three years is growing pressure from lead producers within opec and outside as well, russia in particular, to try and get some of the smaller producers to stop over