tesco expects to meet full year profit expectations. we all thought it would be a terrible christmas for the retailers all because of the warm weather and it wasn't so bad for many of them. >> sainsbury. >> they're all doing better than expected. >> when you look at the third quarter underlining sales figures still down but not so good when you look at the third quarter as a whole and then issues of market share and things like that. but retailers coming after it and the market share losses so ye yeah. asos rising 22% after a disappointing 2014. the british online fashion retailer has been moving more quickly to change it's prices in line. retail gross margins coming under pressure due to higher investment and lower prices. do you know what asos stands for? it stands for as seen on screen. >> didn't know that. home retail group expects full year profits before tax to fall at the bottom end of the expected range. this as argos posted disappointing 18 week sales down 2.2%. meanwhile, australia's west farmers is in advanced talks to buy ch

tesco, once again, leads the charge. another company, another set of analysts say tesco.ism surrounding how good these numbers could be when they come out. and mainly, how cheap this company has now gotten. they feel this is now time to buy. any are now cutting their overall price targets. tesco, it is one of the leaders in the pack. many stocks are moving today on the back of analyst recommendations. up by 4%.tal is this will be helping producers and south africa on steel. . we are getting a help from the government there. keep an i on these stocks. many of the supply is our only downside today. we saw apple below $100 or the ofst time in a year in terms its stock price. samsung prices are below estimates. are having to downgrade their overall outlook for sales from the u.s. and asia. it aims as though smartphone weakness is starting to -- it seems as though smartphone weakness is starting to hit the stocks. anna: the shanghai composite is ending the week much lower after a few volatile days of trade. regulators halted the new circuit breakers of just four days of operat

tesco was up 4.5%. why? itssche bank has upgraded stock. it is a backhanded compliment to tesco.tting the earnings per share estimate and are cutting the price target for tesco. why are the shares rallying? there is a lot more to go for tesco. the margin progression could outpace rivals. therefore, get in and buy. the best performer is numericable. it is up 5.6%. they are looking at french consolidation, in general. could numericable win out? back to you, guys/ jonathan: let's talk about the escalating diplomatic conflict between saudi arabia and iran. first, let's discuss the implications for the oil price. javier, in the past, middle east tensions would jack the price up. walk us through what is happening here. situationthough the is complicated, a diplomatic crisis between the two countries, nothing has changed on the floor. saudi arabia continues to pump a isord level of oil and iran about to come back to the market. the market is a discounting mechanism, but nobody is expecting these countries will enter into a war. at the same time, if we have any to cuthat opec is going pr

tesco has reported a surprise gain in christmas sales. througw sales rise january 9h. been fighting to resist falling food prices. goldman sachs is said to be it coulding cutting -- come later this quarter, but contends an industrywide revenue slump. the investment bank will make a decision after evaluating activity during the period. australian conglomerate wells farmers has offered to buy home base of the u.k. for 340 million pounds. the cash purchase would give farmers 265 home-improvement stores. it comes as sainsbury's is considering making a formal offer for home retail, which would cost around 1.2 billion pounds based on its current market values. for more on those stories, head to bloomberg.com. manus: thank you. london finance sector would be significantly worse if u.k. votes in favor of a brexit. anna: in a bloomberg exclusive, john mcfarlane told francine lacqua the capital could lose business and talent to its rivals. >> i think it would take quite a while for continental financial services centers to emerge, and so that would be a process over a very long

. >> parents fighting for the sidewalk along tesco garrette trail to make it safer for schoolchildren. some neighbors are fighting the about how the city plans to pay for it. >> will start on the side of the road. >> karen walks the trail with her four children to school each day. >> too many people coming too fast or no room. >> it is a major residential fairway, and often she used -- use between counties. parent -- parents use it to get it to the elementary schools. watches cars dodge the children walking home. >> someone will be injured. someone will be killed. >> clutching hundreds of citizens for the petition in the city of mainland is poised to add a sidewalk. their mark. we saw firsthand how the project is dividing neighbors, anxious to explain why it is a bad idea. >> this is the most dangerous road there is, no one should allow the kid on the street. >> his biggest objection is how the city plans to pay for, initial estimates show it could cost $560,000. city leaders plan to request grant money, intended for rural areas to increase the number of children who walk or bike to s

being a bus driver, working as a cashier in tesco, you may lead a normal life in great britain or germany. in poland, it's impossible. this is what makes young people so disappointed. this is what made them vote for change in october. peter: some important points being made. we are all nodding. wojciech there's something else. the lack of expectation and the lack of perspective actually corresponds to the growing of the old,ent established parties. the political parties have somewhat atrophied or they just take their power for granted and they don't communicate policies and they don't give the citizens a stake in the society. you are getting this trend across europe. disenchantment with the political parties. this is a line of argument we've been hearing for two decades. i suppose the big question we have to ask is, does the eu therefore still have the political glue to keep it together? there's something remarkable about institutions. they are loath to give up power and loath to change. they are kind of self-perpetuating. bureaucracy gets bigger. that is a kind of glue. peter: do you hav

it was actually recently positive for tesco. expectations have gone up slightly.teeper sales decline. guy: a big increase in the share prices. thank you, sam chambers. now, positive trade news out of china helps support the yuan. more from what is happening in china with its economy, next. ♪ guy: 8:50 in london. let me show you what is happening in the markets right now. european equities have had a decent rally over the last couple days. my question is, is this basically the short week positioning taking a step back, waiting for the next wave? we will talk about that in a moment. have several voices from within the fed speaking today. eric rosenberg will give an economic outlook. we will get the central bank's beige book tonight at 7:00 p.m. that is the day ahead. one of the big stories that has done well in how it is trending at the moment is discussing oil. >> the movement of oil can be attributed to movement with the dollar. we have a three to one ratio. if the dollar changes by 10%, oil changes by 30%. oil could be bottoming for the near-term. guy: remember,

anticipating some pretty goodttgood wind to develop snow showers might make it up into t southernern tesco our county late tonight.ton not anticipating much of in the way of accumulation if there's anythingn the a trace of to an inch southern county notice we will not see any of this heavy snow northern ohio.o. tomorrow breezy day cloudy high of 31. of 3 there's the heavy snow tracks t through dc. philadelphia up to new yorkk winter storm warnings for 10 project in on snows and wend e talked about this yesterday.s yerday.s normally don't like to show these numbers further out thant th two days. d windshear inside the two day periodds for me anyway that's aat' aa safe window and still highlighting 25 30-inch snowsnc here in the outlying areas look lo at pittsburgh charleston west virginia southernat pitt ohio 428 inhi new york city boston is going tog to anticipate pretty heavy snow. quick look at the eight day as for usrey snow. aside from some lightsom e snow lake county this morning mo r pretty quiet this week and. a 35. 40ay here's what will happena anticipate some rain of lightli snow

super markets are trading higher this morning after barclay's raised the biggest retailer tesco from overweight to equal weight. meantime shares are trading higher to falling hsbc's rating upgrade from hold to buy. despite a report issued last month by the research firm that called the firm one of the most overvalued firms it had come across. higher by almost 4% this morning but i want to come back to the barclay's note on tess coe. they're feeling quite a lot of love this week from brokers. it was upgraded because they say all the bad news is priced in. that was huge because they downgraded the stock i believe two or three months ago and this morning we're getting that note from barclays. i want to bring you some of the highlights. they too say valuations reached attractive levels since the first half results it's underperformed by 23 points. about 14 percentage points so that's quite a bit of underperformance that they might be catching up on. also they say there's numerous potential catalysts. they expect the full year results in april will bring more color on the cost savings opp

i should mention we also have a top gainer today, barclays upgraded tesco, which lost half of its marketap in the last few years. they say you should overweight it on the valuation grounds. the other news is that martin spencer, again within the uk, lost its ceo. the tribulations of martin spencer, they hold it close to their heart. >> simon, thanks. have a great weekend. >>> a big name tech stock rally fading this morning with an eye on the so-called f.a.n.g. stocks, facebook, amazon, netflix, google giving up early gains. amazon eking out a small gain. apple continues to trade below that $100 per share mark this morning. well below it now. below $97. it's down 20% for the past six months. joining us now is apple investor and portfolio manager at wed wedgewood partners, david roth. thanks for joining us. the sense of this week is people who held these high-flying names sell first and ask questions later. cash in your gains and regroup. how you are looking at it? >> the only f.a.n.g. stock we own is google. you need to take some money off the table, but in terms of apple, which is not pa

tesco. can still see that the big german discounters are winning, but from the beaten down base they're higher, and metro, which is the big cash and carry operator in germany, they, too, came through reporting a very good christmas. we still need detail on that. sap, the enterprise software giant competing with oracle, today preannounced with profit and revenue slightly ahead of expectations, as many people thought it would do. the interesting thing is this very strong surge back from the beginning of september, up 32%. you can look at the figures and say, well, maybe they're sacrificing margin in the race against oracle. nonetheless, that is a stook that has one, and it's close to an all-time high. in the meantime, the automotive makers have also done well in a flattish market in europe. flat to positive. pershia, which you may not know because it doesn't sell here. it sells in europe and asia. it had strong china sales out, which people are running with. sales up 8.9% in the fourth quarter

we fought in the war, we are the tesco g airman but where is reward for getting a job or after the ward in oakland was no different than the rest of the world. when you had the supreme court decision, remember this is not a southern school system, the court declared that segregated schools were not equal, therefore they needed to be desegregated. oakland was oakland was no different than anywhere else, looking for decent education for blacks, better housing and so forth and so on. when the black panther party was established it was established as a program with articulation of basically what black people wanted, and what we believe black people want to. that was the the first point was, we want freedom. that freedom was defined by we want the power to determine the destiny of our black community, which goes goes to the question of self-determination. all over the african world, specially on on the continent of africa, you have liberation for exactly that. self-determination that was the defining moment of whether you have power of your life. the power to say whether not you can have foo

meanwhile, another retailer to look out for -- tesco is beating analyst estimates.rd quarter like for like sales are still down 1.5%, but better than estimated. the market thought it would drop 2.5%, and christmas, great guns, up 3.7%. guy: the other area we need to focus on, richemont out with numbers. we are four minutes away from the european equity open. the futures, the fair value numbers are all pointing negative, unsurprising. the s&p last night closing down 10% from its november high. we are seeing corrections there, a bear market effectively. we will wrap you up in a minute with what you need to know, and we will tell you have a european markets are opening. we will take a break. we are back in just a moment. ♪ guy: you are moments away from the start of european trading. stocks plunged overnight on wall street. the s&p has plunged more than 10% since november 3. brent continues to unravel. below 30 for the first time in more than a decade. we were here from russia's finance minister. the day's oilder price and the ruble's exchange rate, the deficit would m