wpp basic resources down by half of 1%. that is curious given that australia many of the mining and commodity stocks didn't really benefit from that chinese rate cut. autos doing better. peugeot being spurred by the numbers. here are the european markets one by one. ftse 100 off and the cac 40 and no trade for the smi. curious to see what the german dax is doing. earnings, phillips was out with numbers early this morning. the aex is down by .33%. phillips is doing this. down by 2.5%. this is after piilips had cost cutting. helping it beat expectations despite that, stock is down. the stock is improving but head winds will remain. >> it will take time before the emerging markets are back at historical growth rates. we see the current volatility and that is something that is difficult to deal with, nevertheless, i'm pleased with the 22% results improvement despite all that currency volatility. >> but the dutch company has said the $3.3 billion of its lumen leds has been thrown into doubt. the rest is still on track to be sold

the top line from wpp. balancing act. third quarter, up 3.3%.ting targets as well in terms of margins. 6%. by like for like sales up 3%. in terms of breaking, 2015 headline market margin improvement act of plus 3%. north america up up by 3.7%. europe 4.6%. latin america, africa, middle east messenger europe, .24%. emerging markets showed strongest growth in the third quarter. north america stronger than the first half. a quick check on what is going on with the markets. u.s. equity futures have been nipping on the downside throughout the trading session. what you've got is the european market. let's expanded out the what we're talking about here. a rise in the euro stoxx 50. , let me see. you have got to the cac up. 21 -- 11 points lower. how it shaped up. carrying through friday. setting ourselves up for a big weekend in terms of the fed a big earnings on the market. twitter in apple tomorrow. we had phillips. a beat blood delayed -- but a delay. shery ahn and hong kong. shery: good morning. felt across cut asia. chinese stocks surged to a two-

the world's largest advertiser wpp beat analyst's expectations by posting a third quarter like for like sales growth from 6% a year earlier. they were boosted by strength, they say, in the north american business. speaking first to cnbc, wpp's ceo martin said he was confident about growth coming from emerging markets despite the emerging growth in china. >> we're looking for an improved fourth quarter. i remain an unabashed bull on china. >> antitrust regulators in australia have pushed back their decision until the 19 ths of november on the $70 billion shell takeover of bg group. this as the body weighed competition in the local gas market. in an exclusive interviewee asked the bg group ceo if the australian authorities aren't offering enough sympathy given the market pricing pressures. >> i cannot comment on the process in australia. it is sharing in that process. we expect that it can be closed early 2016. and it comes to corporations in the market, i think that also crosses all operators and all service companies and technology companies because we have to deal with the fact that an

and wpp co is warning of inane pricing in the advertising industry in response to what he caws growingaution from clients. talk talk hiring defense contractor ba systems in response to a third data breach. hackers reportedly posing as staff to extract money from customerings. and a top gainer, denying reports it's up for sale after stock market turmoil hammered its assets under management and share price this summer. back to you. >> our next guest likes some of the value he sees in europe. he is the chief equity investment officer where he overseas $300 billion in assets under management. welcome. good to see you. >> good to see you. >> credit suisse. why? >> it's one of my favorite stocks. they had their strategy day last week. the new ceo laid out the credit vision. they're raising $6 billion of fresh capital which they needed. but that puts the capital issue, takes that off the table. now they can cut costs and really focus on asia and some of the asset light businesses they have and i think it's going to be a great stock over the next three years. >> do you have a price target on i