socrates lazaridis: at this point, no. in europe where banks deliver, i believe the stock exchanges will be utilized in the near future. and better stronger than we of scene and the last five to eight years. hans: you were walking me through the sectors do you expect any sector to end in positive territory? socrates lazaridis: today, a difficult prediction for it for tomorrow, yes, i am anticipating. the month though falling -- a newly created 2012 index that the ftse, foreign traders. and this index has had a very good performance from the beginning of the year. and it is composed by stocks that have important activity and they are listing and the stock market. has been your bullish on exporting stocks. -- hans: you are bullish on exporting stocks. socrates lazaridis: it is logical. i am just mentioning. investors to follow the performance. hans: sir, we thank you. i will send it back to london. francine: hans nichols with the ceo. pmi data add to whichs -- to china's troubles. ♪ francine: welcome back to "the pulse." chi

socrates lazaridis joins us. germany's second-biggest bank commerce bank, reported earnings.g to be speaking to the cfo. that will be coming up live. we have earnings from hsbc this morning. the bank agreed a sale of its brazilian unit. julia, just to see you again. we have heard they are selling the whole business in brazil. >> there are no sacred cows. they realized it wasn't profitable anymore. it would cut costs. you can't only cut costs i just cutting headcounts. they said, what can we sell? it is a bit of a trend in terms of getting money back. anna: we have seen some positive reaction. up by about 1.2 percent. how does this compare to the rest of the sector? >> i think they are pretty much in line. they are a bit more aggressive in terms of being detailed in their strategy? deutsche bank wasn't. bmp has created a detailed plan. i think they are in line with their european peers but much better at communicating it. quite how far through the story are we? >> the doj fines five other banks. hsbc was not included. the number could be higher or lower. they haven't reached s