Bloomberg 直播内容为盘面解读，未出现可直接落地的可交易公司级催化事件

【实时直播转录 · Bloomberg TV+】
来源:Bloomberg TV+(bloomberg 直播间 btv_us) · 标题:Bloomberg TV+
时段:2026-08-06 15:00–15:30(Asia/Shanghai),共 138 段
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[15:00] For that giant of the German markets, we'll watch to see if that one goes higher at the open, so the 5100 is open, not open.
[15:00] Not up by very much up by a tenth of a percent, but it is Germany where we got a lot of those earnings but it is.😊
[15:00] The cat carran is up by6 tenths of 1%, the eye be is up by four tenths of.
[15:01] So we do have some areas of positivity as we wait for Germany. Well, let's take a look at the central breakdown down in the meantime. and we've got about three.
[15:01] As in positive territory this morning, media meeting the gains today, utilities not far behind bottom of the basket, though, basic resources.😊
[15:01] leisure, real estate and if we look at some of the individual names that we were just discussing, those that are already trading we are looking at.
[15:01] Wiz air shares down more than 5% because we also had numbers from them this morning and.
[15:01] of those who' have been reporting include Diagggio at 1.3%ic.
[15:01] Insurance just opening down 2.5% Swiss re down 2.5% as well, of course we've been talking a lot about the impact of wildfires when it comes to those.
[15:01] But we're still waiting for the German names that have reported results to open Diageggio, I should say't yet.
[15:01] Reported its earnings which is strange because we were expecting that we were supposed to and that didn't happen so that's a strange one we'll no doubt dig into why that happened.
[15:02] In terms of the individual movers, I'm looking at percentage change, we don't see any of the companies that have.
[15:02] Reported necessarily out with numbers I see tritax is negative rent group you'd like that earlier is negative Lizzie got per simmon up.
[15:02] Positive territory, I think we got an update there from a points perspective, ASml is the biggest weight on the stock 600, does this tell us something about?
[15:02] Those Asia and US tech dynamics that we were tracking from Sandis to Sobank, maybe that's where we see that showing up to the upside.
[15:02] We've got some of the big pharmaceutical names, so maybe we're hiding out there for now. Let us speak to Eric Whitetannis, who's in the head of investment strategy.
[15:02] Over at JP Morgan private bank and with us on here in London, Eric, nice to speak you, thank you very much for coming in we a lot of our time.😊
[15:02] , probably too much reflecting some sort of 640 portfolio assumptions.
[15:03] About global asset allocation to those areas of markets, but also alternative investments right now, what does it look like from a private banking?😊
[15:03] So the 6040 is probably under some degree of challenge in terms of its long term diversification value proposition.
[15:03] Many investors have relied upon the negative correlation between stocks and bonds for many, many years over market history and one of the trends.
[15:03] We observed, particularly in the family office community, is a bit of a recognition that that value proposition is under a degree of challenge because.
[15:03] There's actually mostly been a positive relationship between the movements, between stocks and bonds most recently and that's not quite.
[15:03] Ideal because many investors want to have things that are doing different movements in your portfolio at different periods of time you want those bonds to.
[15:03] De buffer the downside when equities have to some degree of sell off so one of the things that we think makes a lot of sense is to lean more heavily.
[15:03] Into the alternative space as a bit of a counterbalance to that. and in fact, going back to that same family office community for those that fly.
[15:04] Inflation as a concern and it is something that's on our mind they are tending to lean into alternatives to a much heavier degree and we think.
[15:04] That makes sense Okay and so is that infrastructure and do you have concerns that for family office or for anybody else that that takes?
[15:04] A lot of these strategies actually have almost no relationship whatsoever to what's happening in broader markets, so genuinely giving you that.
[15:04] 0ero or in fact, negative correlation and back to those.
[15:05] Mo where their mouth is, so to speak and flag some of the moves that we're seeing.
[15:05] We had some really strong numbers, I think it was factory, all little commentary about whether we're going to see some sort of.
[15:07] Whi was north of 55 and a half and the expansion number is north or south of 50 so that's a good reflection of.
[15:07] Happening with manufacturing in the Us and the sustainability of that economy as it pertains to the Fed.
[15:07] Clear of a message and that seemed to focus about.
[15:08] Here in Augustugust, so there is a lot of focus on does the fed go perhaps one time or so, some believe it could be in seember.
[15:08] You've got the doubt over the Fed's commitment to fighting inflation when you've got all this change in the way it communicates the Middle East.
[15:08] You've got the task forces.
[15:08] I mean, we're very likely to finish this quarter of earnings with what will be.
[15:08] seventh quarter in a row of double digit percentage earnings growth in the US10 of the 11 sectors in the S&.
[15:09] And those that are not in terms of their profitability, so the earnings story very much so is coming through and that makes.
[15:09] Its very reasonable to continue to allocate to a healthy degree to the U..
[15:09] Earnings delivery and reasonable valuations we think it is reasonable to be healthily long the us market and e.
[15:09] Theres a lot of questions about, you know, we see the data center rollout, it's going at incredible speed and we ask whether the companies that are going to be buying these services are going to.
[15:09] what will the return on investment be for them, Will AI prove to be as good as everybody hopes it will. And you've got some analysis.
[15:10] You find there's actually already a spread between the margins for companies using AI and those who are not. How do you do that kind of analysis.
[15:10] AI sort of costs and benefits seem to be quite distributed around PNLs when we speak to CEOs. So how are you getting into that kind of data?
[15:10] So we see it in terms of the earnings delivery and the numbers and those that disclose how much they are using this technology and those that are not.
[15:10] And that spread is only widening and we believe that will continue to be the case over time many of us experience that in our own day to days.
[15:10] Of burdensome weight of slower pace of work, greater degree of efficiency, typically decreased level of.
[15:10] Coss, more productivity, which is translating into earnings the ro question, return on investment.
[15:10] In terms of these enormous amounts of capex capital expenditure dollars that are being put into the ground, that is something that the market will continue to focus on.
[15:11] And each one of these quarters going forward because the numbers are genuinely gigantic so while it has been showing impressive.
[15:11] Of thus far, those questions will continue for this theme to remain buoyant going forward, continuing to invest this capex into the.
[15:11] roundWith an expectation, you know that that kind of buoyancy and that delivery comes going forward Eric nice to see you e why there you very.
[15:11] much for coming to see us Em head ofInvestment Strategy at JP Morgan Private Bank Well let's check in on the Cor6 this morning shall we.😊
[15:11] We've already talked a lot about rh Matttel, those shares 1.8%, what else is on the board here well LVMH is gaining so is Nestle.😊
[15:11] But its losses in the tech space, ASML and Schneider, you might have expected that given that all we've been talking about with Sandisk and.😊
[15:11] Also, the soft bank earnings is a bit of a mixed picture for that.
[15:12] There's given a lot of weakness in a WPP, which had lost so many contracts and had really, really struggled.😊
[15:12] Against its biggest rival publicists for the last few years, but it seems that the turnaround is now taking shape.
[15:12] Moving on to another positive move, we've got Doche Telecom raising its buy bagag by as much as 3 billion euros.😊
[15:12] After earnings came in line with estimates and so that is driving the stock up about 5.5% this morning.😊
[15:13] The shares down for Siemmenens, which is quite surprising, given that it did raise its guidance this morning thanks to this data center demand.😊
[15:13] as well, but perhaps the expectations are really, really high and they did not manage to meet those elevated expectations.😊
[15:13] Actually quite the hit this morning were down.
[15:13] More than5% there and finally let's go over toia, which is an Irish maker of protein powders seeing a big boostoze this morning.😊
[15:13] And has really, really benefited from that. So we're up about 9% there. Chloe, thank you very much, Chloe Melly on the protein be.😊
[15:14] Yeah that WPP movie incredible isn' it announce a billion dollar buyback, we will bring you some of our conversation Lizzie was talking to her in fact.😊
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[15:17] 🎼NowComs Bank says a strategy developed together with Uni creditedit.
[15:17] Ba's current relationship with the.
[15:17] We have talked after every quarter un credit and Com bank because.
[15:17] There are not.
[15:18] that and these meetings will continue and for sure.
[15:18] Yeah, I just wondered what your relationship's been like with Andrea or Chalbertina because we know that he wants to speak.😊
[15:18] Comments well first of all, I think we are both, I mean, we are both committed to an increase.
[15:18] And maximize the value for.
[15:18] And in the takeover talk, I'm thinking about keeping the international network.😊
[15:18] The headquarters keeping the public listing, maybe you want some job guarantees I understand the interest that.
[15:19] We will definitely come out to the public to share more details on it for the time being, I think it's important A that we deliver.
[15:19] Um in that we continue to deliver against our targets and be that.
[15:19] Organize the place.
[15:19] of us, but also how potential target pictures could look like and the best thing to do that and the most value a creativeative thing.
[15:19] is to do it jointly and that's the basis that was the Com.
[15:19] Co Bina All was speaking to me earlier off the back of their earnings. Let's get some analysis now we're joined by Tom Mecalf Bomberg managing editor for Finance in Europe.😊
[15:19] The Middle East and Africa, so Tom you were listening to Bina there, she's since been talking on an analyst call, she's speaking to analysts right now.😊
[15:20] Saying that they're optimistic they can find common ground on a business model with unit creditit, the talks have started on a common path.😊
[15:20] What did you make of what she said there about where they go from here Yeah, I mean, understandably KG right not wanting to show her hand.😊
[15:20] But yeah, it's sort of inevitable, right, like,48% of the state you're obviously going to need to engage. And I think this change of tune effectively.
[15:20] Does show that we are getting close to the end game for what's now been like a two year sort of saga. But yeah, those points you raised are exactly the ones you imagine.
[15:20] Will be kind of top of her allops mind, but also Berlin's at job security, you know, they didn't want to see sort of an exit in any way or kind of a bigger rationalize.
[15:20] In Germany.So I think what will be interesting is kind of where the two sides meet, Because there's an extreme version where Unirolate effectively takes full, full control.
[15:20] But there's reasons that might not happen. They could, as I think all it was kind of indicating is, you know, we can work together. There's some kind of joint venture here.
[15:21] Well, I think it will be a very, I'd love to be a fly in the wall because obviously it's been very fiery and whatever they're saying publicly.😊
[15:21] You,They clearly are not seeing eye to Y. And there's many different ways of gone down from both sides. They were pretty sort of at odds.
[15:21] You know,Right from the beginning, so those first talks to be fascinating Yes and Com Bank from the beginning has not appreciated the style of the approach for happening.
[15:21] The tone changed when I started asking about you but the tone has changed then this morning from them, which is interesting, but what about the earningsing?😊
[15:21] So underlying this they from the beginning tried to demonstrate they've got an independent future. so what does the earnings picture look like.
[15:21] That again this quarter, Its like so the couple of the big things there would be the buyback 1.2 billion and profit did jump.
[15:21] They can sell that story of, look how strong Coms Bank is as an independent entity. We are in a position of strength here as we enter these talks negotiate.
[15:21] I think on the flip side, what you're seeing from analysts is describing these results as mixed, fairly in some ways, underwhelming.
[15:22] You while there was a profit beat, I think the net interest income was a little bit soft for some analysts, so you can kind of see that in the shares today.
[15:22] Flat, obviously, these shares have risen quite a lot. So it depends which side of the story you are on. You can kind of make a positive or a negative.
[15:22] All right very much that's zman's shares are down after disappointing investors hoping that it would show.
[15:22] A bigger benefit from AI spending, it seems to be the digital industries, the factory automation part of the business that disappoints investors this morning, but earlier I spoke to.
[15:22] As even CEO roland Bush and began by asking where the strength is coming from because they've upgraded their Eps guidance.
[15:22] TwoP,1 is our automation business and our software business, and both are really firing. So our automation business had an order intake increased.
[15:22] Of 11% grew by 7%. So we see a good momentum there that comes with a good conversion. And our software business as well.😊
[15:23] It grew by 11% if you took our total semmenens, digital business, digital business.
[15:23] This is a software and services group by 15.
[15:23] About the competitive landscape, I'm thinking but there are Chinese competitors.
[15:23] Launched new Chinese products. The first 16 landed in the market, another batch of 20.
[15:24] Also in the machine business or competitive new products in all markets to supply that, how sustainable is the demand that you're seeing in connection with.
[15:24] The data center rollout,20% electrical products by 18, but had also.
[15:24] Growth from our automation business as well, which was pulled also go more and more into industrial Plcs, where we have.
[15:24] Strong offering. We're also adopting our functionality. We can use it. And then, after all, if you want to build new data centers, you want to build them fast.
[15:24] And super efficient I'm offering here. And then it goes into other technologies like.
[15:24] 800 Vts Dc, so direct current. We launched new products, Dc products switching products, which we have in the market.
[15:27] Today's CFOs are reshaping the C suite.
[15:27] skills are important.
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