德国商业银行称与裕信合作或为积极因素

Live from London. This is Bloomberg Daybreak here. I'm Lizzy Burton with you. Top stories. Global stocks slide from record highs as two portions of U.S. chip earnings fail to satisfy investors hunger. Iran says it's reached an agreement with Oman on a proposed route through the Strait of Hormuz, raising the prospect of energy flows resuming and another busy day for European earnings, with results from Siemens and Commerzbank.

We'll be speaking to the CEOs of both companies. Well a very good morning. Here is the picture in markets Korea setting the tone once again. The cost B is down 4.2%. We've seen losses around 4% more than for Samsung and SK Hynix. And they have been knocked by the disappointment on guidance from SanDisk and Western Digital in the US, both down in post-market trading. And now Nasdaq futures are down 2/10 of a percent as well.

In the middle there you've got Brent at $79 a barrel holding below that 80 level. After Iran said that it have reached an agreement with Oman on a proposed shipping route through the Strait of Hormuz, and given that that allays some inflation concerns, reducing the chance of rate hikes. Gold, which of course lacks a yield, did have a chance to break out above $4,300 an ounce. Its back just below that level now after its biggest gain in three months.

So fall to 62 is where we trade on the yellow metal. Plenty to bring you this morning. Plenty of earnings. Let's get started. We begin with breaking earnings out of Germany kicking off with Siemens. Commerzbank second quarter numbers. What you're seeing is second quarter net interest income just shy of estimates €2.06 billion and planning a buyback of up to €1.2 billion. So those are the key figures. So far they have uh uh, released also second quarter operating profit of €1.37 billion, which is a beat on the estimate of €1.32 billion.

So these numbers are, of course, coming before further talks over a potential takeover by UniCredit. Trade is bracing for an outsized swinging the shares off the back of these numbers. And I'm going to be speaking to the CEO between all up later on this hour at 6:45 a.m. London time, the expectation being that she'll be on the phone to UniCredit, Andrea or Shell today to determine how to move forward there. Now let us actually turn to zoom.

And now the redhead crossing the terminal is that they have raised that outlook. They see full year EPs uh, at €1,120. That's try 2 to 11 20 1122 1150. So in a range there, uh Prepa uh, to raising the outlook on their software and data gains. And, uh, this is raising the expectations for second time this year. Uh, so they now are seeing the, uh, earnings per share before purchase price allocation accounting, as I say, for as much as €1,150 from as much as 1110 previously.

Uh, and they've reported revenue growth in all divisions in the fiscal third quarter. Group free cash co free cash flow was out this morning jumping at 42%. Uh, so those are the numbers from Siemens. And we're going to be speaking to the CEO Roland Bush, later on in the program as well. 6:45 a.m. London time, too. Now let's turn to the broader markets, because we have stocks in Asia falling as that disappointing guidance from US memory makers weighs on sentiment.

We can go to an issue for an update from Hong Kong. Winnie, what are you focused on this morning? Yeah. Good morning Lizzie. Well, just as you mentioned, we are seeing quite some pressure for Asian stocks today following those disappointment from the likes of SanDisk and Western Digital when it comes to our earnings. Now expectation has been sky high. And that is why at this point investors still want to be looking out for the stronger outlooks, stronger guidance and also a stronger pricing power.

And that is why we are seeing memory stocks leading declines today, especially in South Korea. Now when it comes to Japanese yen still holding steady right below that 158 level against the dollar following that historic joint intervention between the US and Japan. Well, bonds here also holding on to their gains after we saw some firmer demand from that 30 year bond auction of the JGB, showing that investors are still showing quite some relief when it comes to markets.

Now, before we take a look at commodity space. Because gold here, as you mentioned, extending those gains amid that optimism for the Strait of Hormuz to reopen. And investors right now are trimming those bets on the Federal Reserve to hike rates further. And we're seeing goat related names as well as mining sector. Both are gaining in Asia now. But where we also take another close look at something very interesting going on when it comes to the US-China trade tensions, because we are seeing similar stocks here in China falling after we've learned that the U.S. is planning to impose further tariffs and minimum prices on polysilicon, while as part of that retaliation towards some of the U.S. curbs on tech that we are seeing.

Recently, Beijing also released, um, these new series of measures, including tighter export controls on drones and also a security review on some of these office equipment being imported into China. So we're seeing the drone related names, the printers in China rising on that front. Back to you, Lizzy. Renee, thank you very much. That's Bloomberg's Winnie too. Well, as we look ahead, Nasdaq futures pointing lower after those disappointing earnings from the memory makers SanDisk and Western Digital.

Both stocks as I say falling in extended trading after that guidance disappointed. Let's go to Sam Stead now. He's unusually in Hong Kong for us today morning. Some nice to see you bright and early. So actually these earnings were pretty solid beats and raises. But it's the guidance that traders seem to be focused on. Why isn't enough. Yeah. So the guidance is definitely the part they're focusing on. But also you know these are two companies bumping up against extremely high expectations.

You know, so I mean even with a selloff over the course of July, Sandy's shares still up by nearly 500% this year, Western Digital have tripled. So these are very, very high expectations to come into any numbers with. So on the face of it, as you mentioned, Lizzie, the result was a pretty reasonable. But it's the bar now, especially for these very, very high flying AI stocks in these memory names in particular have done very well, is very, very high and very difficult to get over.

And so you need, you know, blow out earnings on top of of our earnings in order to, to go further. And they weren't quite able to deliver that. And just staying with the tech team there's a big change. The leadership at the top of Google. What's the strategy there. Who's moving. Yeah. So it's a big change in sort of the very broadly across their AI strategy. And we've had, you know, quite an interesting flow of news over the course of this week.

And we have this story about Microsoft and how much of their revenue is coming from open. I also today, uh, deep seek uh, you're looking to raise prices quite significantly across AI. I think what you're seeing almost everywhere is this increased competition is higher and higher intensity. As we get further and further into the I story and as we see results coming out, you know, we're now quite deep into to earnings season.

I think what you're seeing is these these reactions once results are out. And this is how we're setting up for the next set. And this is the kind of AI story for Google. And as you as you mentioned, it's a whole selection of very prominent changes to position themselves more strongly. Okay. And you can see some of those names on the screen as we speak. Some thank you very much. That has been makes some instead. Now turning to the geopolitics, because we've had Iran saying that it has reached an agreement with Oman to come up with a proposed shipping route through the Strait of Hormuz.

An Iranian foreign ministry spokesman said that a joint statement from Tehran and Muscat is u

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