we're live from the unicredit headquarters in milan. we'll be back in a few minutes when we started our business we were paying an arm and a leg for postage. i remember setting up shipstation. one or two clicks and everything was up and running. i was printing out labels and saving money. shipstation saves us so much time. it makes it really easy and seamless. pick an order, print everything you need, slap the label onto the box, and it's ready to go. our costs for shipping were cut in half. just like that. shipstation. the #1 choice of online sellers. go to shipstation.com/tv and get 2 months free. >>> happy hump day, everyone welcome to "street signs" this wednesday morning. i'm in for joumanna bercetche who is covering unibank earnings in milan let's get to your headlines. nissan and rehn nault agree to invest up to $660 million into its french peer's ev unit. ceo makoto uchida tells cnbc this will be a pivotal year for the business. >> 2023 will be the most important year for us, how we can continuously use the momentum we build on

that is unicredit.so have deutsche bank results this morning for the second quarter, this is germany's biggest bank. we had confirmation yesterday that it will initiate share buybacks up to 450 million euros, so matching the size of the ceo hinted at last month. management also warned of a possible 20% drop in fixed income trading for the period what we have learned this morning as there has been a beat on fixed income sales and trading revenue. that is 2.1 billion revenues, the estimate was for 1.97. we are going to get more on those results later in the program. we will have an interview with the cfo, that is next. stay with us for the conversation with bloomberg's oliver crook, this is bloomberg. lizzy: good morning, this is "bloomberg daybreak: europe." i'm lizzy burden in london. asian stocks fall as investors reduce risk ahead of the fed rate decision. the s&p 500 is 5% off the all-time high. earnings season is in full swing as alpha new poster revenue beat while microsoft shares cloud sales. lvmh

previously owned by the french renault and the japanese nissan each had 30% and the rest was owned by unicreditk at the end of last year. the partners decided to sell 100% of the shares to the avtovaz group, the deal was approved by the president and was closed at the end of june this year. well, the guys from the exchange rate are traditionally the dollar 90-38 and the euro 100,165,100 rubles. 65 kop. roman artyom thank you immediately after the advertisement of the catastrophic fire of the people. who pay for okroshka and not only through the fast system and there will be 5% bonuses on magnet cards. kefir forgot to pay. make profitable purchases through st. petersburg in the magnet network. in the world of hundreds, you can't. iota says you can, try the first month for only 399 rubles. decide how many gigs and unlimited applications you need. iota mechanics with experience know you can sell anything. you don’t need an evaluation service for a popular brand or worse than a fake for your customers. i suggest an oil that i am confident in myself motor oil keeps the engine clean and protects ever

he owned the unicredit bank and at the end of last year the partners decided to sell 100% of the sharesoup avtovaz deal was approved by the president and was closed at the end of june this year. a few more numbers for the curtain. these are exchange rates traditionally the dollar costs 90 rubles. 38 kop. euro 100 rub. 65 copter. thanks in the morning , the ukrainians sat down to attack. drones, lost their course and crashed into two non-residential buildings of serious damage, affected no, all operational services are working on the spot , moscow mayor vladimir putin said that the continuation of the grain deal had lost its meaning and explained why the president wrote an article about this, dedicated to the development of relations with the countries of africa, the material was published on the kremlin website of those who died in the special operation zone of the rio news military correspondent. rostislav zhuravlev will be posthumously presented to the departmental investigative committee on the border. medals of valor courage on the facts. arrow russian media representatives initiate

unicredit said it is pulling out of the proceedings. are you still interested?n: we were looking at the potential target. we are no longer in the process. in general we are interested -- we are looking to be a part and an active party of the consolidation in the region. lizzy: what sorts of purchases make sense for you at the moment? stefan: we have been purchasing the commerzbank activities in hungary. and after looking at love the potential little risks, in the third round we have been acquiring portfolio in the czech republic. those kinds of transactions are attractive to us and it is adding to our organic growth and we are happy with what we have been achieving recently. lizzy: what put you off the otp romanian unit? stefan: i did not understand. it was simply my understanding that the seller has been looking at the incoming -- and we did not go -- incoming bids and we did not go aggressively. lizzy: thank you for that update on the earnings this morning. the erste bank cfo stefan doerfler. we look at the impact of rising temperatures across europe and what

wednesday, the banking stray with deutsche bank, unicredit, and big banks out of europe.g to be different than what we have seen this week. thursday is the ecb decision. wednesday is the fed. friday is the boj. what language are we going to see from christine lagarde? talking about maybe not getting a rate hike. friday, you have numbers from iag, astra, and sanofi. a lot in terms of the european corporate picture. it will be a fascinating. this sunday, we kick off with the spanish snap election. what are we going to see? kailey: let's pose that question to our next guest, director of the center for political economy. he was a member of the spanish parliament. what result are you expecting sunday? tony: the polls are quite clear that we will have a change in government. there is a 60% to 70% probability that we will move from a socialist, far left government we have now towards a right government. the question is whether we will have a far right government for the first time since more than 40 years ago. this is the big question. as i said, the chances are because of the r

insurance sector, banking sector, unicredit.enex out of belgium is the standout story, that stock up by 31%. year to date charts, it has a new type of drug pushing forward and you've got a new trial showing how efficacious this drug is in treating inflammatory diseases. they think this new therapy could rot in a range of treatments. that stock has been flying today on the back of that. the close is next, this is bloomberg. ♪ this is ge aerospace, advancing flight for future generations. ♪ welcome to a new era of flight. guy: the luxury sector doing damage in europe today. two main markets suffering are the wrench market and swiss market. richemont coming out of the swiss market, bleeding over into the majors of this world. that is the narrative. it is a china narrative as well as a richemont narrative. richemont painting an ok picture of china. it is the u.s. where the weakness was. the fact you have chinese data showing retail sales not that strong has bled through. the luxury sector needs china to do ok. that is where the are

unicredit is on a 66% run into santander has been doing well as well, up 25%, but the trading desks,ys is next week and deutsche bank. both have made significant changes to how they think about headcount moving into this environment. both have large fixed income businesses and fixed income has been all over the place. deutsche bank don't necessarily have that kind of texture that goldman has that is commodities heavy but what will they get from the rates business and the currency's business -- the currencies business? are there changes when it comes to the trading desks paying off with ubs and credit suisse emerging? are there shares that barclays and deutsche bank could be taking? there's a lot of dynamic things happening this month and i cannot wait for ubs at the end of the month. guy: it's going to be fascinating to see the commentary that goes around that story, how much progress are they making, what are they doing in terms of headcount? it's been a fantastic week of coverage. thank you very much indeed. european stocks coming into the close up around .2%. euro-dollar is down o

this is among others sberbank vtb gazprombank alpha-bank rosselkhozbank in unicredit, the banks specifiedo deposit cash into the account at branches, according to ria novosti , it accepts cash euro dollars from all systems of designated banks only at tinkoff bank atms, but even then with a commission of up to ten percent. like a ball from an expert about a past newspaper. izvestia , almost all systems of significant banks are now under sanctions, they are writhing in dollars and euros , and banks with foreign participation. although i think they continue to function , they are also reluctant to take on currency transactions, because they simply don’t want to get involved with the payments of russians, and experts continue servicing atms - these are costs, and probably in the current conditions the demand of russians is to deposit in personal currency through atms. not so big. the russians took first place in terms of the number of immigrants in turkey, the vedomosti newspaper writes about this , referring to the data of the turkish statistical office of all astronomers. last year. 400,000