these are the headlines on unicredit. comfortable beat on the revenue side, exceeding 2021 as a whole. what do you do when the bond market convulses? the equity market has anaphylactic shock, recovers and drops again. stephen roach encapsulates it beautifully from morgan stanley. former morgan stanley economist. the fed is so far behind that it cannot even see the curve. it is pouring fuel on an economy with the lowest unemployment rate in 40 years. the fed is going to have to do a lot more tightening, which takes me to this. i enjoy his tweets phenomenally. he reflects on 2030. what happened to two-year and ten-year forward rates? if you think we are kicking up a barstool in the bond market, you are mistaken. this account slates -- encapsulates where rates were and we are just getting started. let's have a look. this reflects 2013 and really what robin is saying, yes, you have short moves in the twos, the tens have been ratcheting higher, but if you think you are in the midst of a tantrum, you have a lot further to go on

next year, we will see more global expansion up 7.2% unicredit. profit coming in better than expected despite the italian lender taking the fourth quarter hit among the ceo restructuring plan the cfo has come out in the last few minutes about share buybacks they will proceed when they get approval to do so. they dropped plans for takeover on the russian bank. if you want interesting stories, look at unicredit. that is down in the red. that is a quick snapshot >> rosanna in london thank you. >>> apple is the big mover of the morning. shares are moving higher by 4% it will drive the out performance perhaps in the nasdaq and a dow component we have arjun kharpal covering this for us in london. what should they take away other than the apple beat on the top and bottom lines >> reporter: if we dig into the numbers, dom, products like iphone despite the global chip shortage and manage to grow revenue at 9%. gaining traction and particularly in china where apple is the number one smart phone provider up 24% in the quarter. key to apple's future growth an

jan-patrick: of course, we have unicredit, with a strong voice at the top. have started buying up stuff from the struggling banks like with the equity business that was bought from deutsche bank, for example. then you have the weaker ones. you have commerce bank in germany which is heavily reliant on the retail business, which we know was and very profitable, but could become profitable as they merge with a bigger bank. those kinds of plays will always be possible. the question is just will it create shareholder value on a sig. can scale. i have my doubts that this will happen. as long as it is not significant or not seeable, i doubt shareholders will push for it. guy: what is priced in terms of rate rises in europe? there's not a lot obviously in terms of the bond market. there's a possibility being priced of one hike may be towards the back end of this year for the ecb, but as yields pick up, walk me through the affect is on european banks and their profitability. jan-patrick: what freddie said earlier, i have to agree that european banks have a strong sen

almost 3.8 billion euros for unicredit shareholders in the coming months. lvmh is posting record pandemic sales, topping the previous record set in 2019. the gains by the french group is among luxury brands that shows the shape of the luxury industry. this is amidst a recovering cut economy -- recovering economy and soaring prices. the platform slashed its estimates down to $447 million. revenues were already below their january price. that is the bloomberg business flash. tom: let us get into the key market drivers with kristine aquino. earnings coming to the rescue for the markets. kristine: definitely. we saw apple pulling good sentiment from asia after eight battering week and doing much for the stoxx for the supply chain. definitely shoring up a sentiment there, but the new ones we have to look at when it comes to taking on the apple earnings is that apple is a different east -- beast from the part of the tech sector that has borne the front of the selloff. we are talking about these high profit tech names, we are not talking about apple which is still

complete like volkswagen and unicredit all really exposed to russia.we were to see conflict in europe and those companies had their russian opportunities diminished, do you have any idea what kind of impact that would have on the pmi's come on growth? chris: it is really hard to break that out. we've had growth in russia, so you will not get a big impact as if this just came out of the blue. i think you're going to see a big impact because it is going to hit confidence. everyone wants stability and to be able to see what their prospects are over the next year, two years, three years. a new conflict in europe at this stage i think be very damaging. guy: it is always a pleasure to catch up. instant analysis on these numbers, incredibly useful. let me give you some data in terms of what we are seeing on the screen in front of me. it is a sea of red on both sides of the atlantic when it comes to equities. those are the numbers, as you can see. big numbers being posted on decent volume. the stoxx 600 is down circa 4%. the dax is down by nearly 4%. the nasda