matt: let's talk about novo nordisk. yes, sorry. let's talk about novo nordisk, they see 2018 profit stalling. we will speak to the ceo. tell us about their earnings. ksenia: that is really interesting and is unfortunately, negative this morning. they have seen another year of lackluster growth. it is the biggest producer of diabetes medicine that has been under pressure because of lower drug prices in the u.s. and it is looking to acquire more drug makers. the drug was rebuffed by the arrival of sanofi. ,att: let's talk about daimler not pleasing markets this morning? also negative. it is all negative for me this morning. it missed estimates on rising costs. it is a mercedes-benz unit. also, it is putting an enormous amount of money into developing electrical cars. its competition in that business increases. electrical cars, it's all about that these days. daimler is under pressure to put money into that, and that's where the costs are rising. matt: it is amazing how late to the game the incumbent carmakers have been on this issue.

mark: bloomberg matt miller eaking with novo nordisk c.e.o. vonnie: a look at some of the biggest business stories in the news right now. tesla will test whether the renewable products have mainstream appeal. they have told bloomberg they are having a solar division at home depot. it will be at 800 home depot locations. it was a rough january for detroit's big three. general motors' deliveries increased but still missed estimates. meanwhile, toyota sales rose nearly 17%, almost twice what analysts forecasted. that's your latest bloomberg business flash. mark: a look at european markets. we are down for the fourth consecutive day today. we were up earlier but the ftse .6%. the dax down 1.5%. c.a.c. .6% down. ♪ mark: life on bloomberg european headquarters, this is the european close. rise, andopean stocks as was the case yesterday, we drifted lower in the afternoon session and will close at 6/10 of 1%. it comes to an increase of 1.6% in january, the strongest month since october. at itsman ten-year highest since september of 2015. earnings is

the issue for novo nordisk is very simple. only spent $500 billion in the past number of years on m&a. were waiting for confirmation go through on their deal. the numbers this morning are very much in line, that's what we got from novo nordisk. the scandinavian banking business, reviewed in numbers coming through from them. fourth-quarter net income being the highest of estimates, giving us interest, net interest income. this is broadly in line, the buyback program that talked about today, new program of 8.1 million shares, up to a half percent of registered shares. update on the markets. >> here's the picture across the region, japan outperforming on the upside, china underperforming on the downside. the s&p 500 closed out pretty a slight positive bias yesterday and despite the two days of losses prior to that, the best start to the year for u.s. stop since 1997. take a look at the next chart, it lowers seen a touch of dollar index today and we did see it briefly erase some of its losses in the session yesterday following the

can you quantify the effect of the tax bill on novo nordisk? >> we expect that we will have a lowering of our effective tax rate by 1.5%, with an effective tax rate of 21%. in the u.s. we are already investing in the u.s., building a $2 billion usd plant in north carolina. we see a strong opportunity, and we are investing also based on lower tax rates. >> europe's biggest oil company has delivered fourth-quarter earnings ahead of estimates, led by upstream and shell. an adjusted report of $12.3 -- shell reported an adjusted profit of $12.3 billion, its best profit in three years, the with a surprise drop in cash flow. >> altogether, the year has been successful. earnings close to $16 billion. i think we have shown that we have what it takes to be a world-class investment. altogether on a cash basis, we came out to $39 billion after working capital adjustments. we have been able to pay down the debt quite a bit. i'm very, very confident that we can meet the commitments and promises we made for the end of the decade, which is $25 billion to $30 b

nordisk has fallen to the bottom of the stoxx 600 fourth quarter profits dipped below expectations 2018 figures are expected to be hit by the weaker dollar the chairman announced he will step down with the board proposal helgelund as the replacement. >>> shares in skanska are slightly higher in early trading. the construction firm reported operating profit ahead of guidance 2017 order intake came in under analysts forecast at 151.8 billion crowns earlier skanska talked about the construction firm's margin challenges >> what we delivered last year in the construction stream was not an acceptable level. we have strong performance when it comes to north construction stream and europe as well. but we do have issues in u.s., part of u.s., uk, czech republic and poland >>> roche shares are trading near the flat line after posting a drop in full-year net profit due to impairments 2017 sales rose 5% and they proposed a dividend of 8 swiss fra francs roche also said it expects earnings to grow broadly in line with sales the ceo said the approval of its new ms drug was significant. >> you look at

i will switch it to index points so you can see, novo nordisk is pulling up the most, but wrote a child and bp are weighted, as well. they go santander is one of those that rate elio has been big in shorting. we also see -- rate elio has been big -- rate dalia -- ray dalio has been big in shorting. inneken is the biggest drag terms of points on the stoxx 600. right now down almost 3% at the open. you can see heineken and heineken holding both down there. we also have air france down right now considering the airline issues we have in this market. we have sky falling, paddy power, falling. very few losers, they are not off by much. heineken is down almost 3%. guy? guy: i want to come back and take a quick look at the monitors. we are reasonably positive, up by around 1% in terms of the numbers we are seeing in europe. i still don't have a dax open, both will get to that in a minute. generally, most markets are reasonably well bid across europe as we see the market pricing in that move that we saw on friday. that late rally we saw in the s&p. asian stocks are quite strongly bid, as well,