Is Optimism Behind Alcoa’s Boost?

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July 9 (Bloomberg) –- IG Market Strategist Alastair McCaig discusses today’s top stocks to watch in Europe with Olivia Sterns and Ryan Chilcote on Bloomberg Television’s “Countdown.” (Source: Bloomberg)

Joining us.

Out: came out -- alcoa came out.

They swung to a profit and beat estimates.

What should we make of this?

It will be interesting to see if this will be the template for u.s. companies.

They have headwinds.

They are trying to reach4 -- restructure.

Demand is down.

They have managed to navigate that well.

You have to ask the same sort of question, which we were asking the last reporting season.

Do a lot of these price multiples add up?

You say a lot of that is just yellen and pushing up asset prices.

We have seen a lot of merchant acquisitions going on.

Back in proper -- prop up the equity markets.

How much of it is warranted from the actual business data?

Can we talk about the world cup and rigging beer?

Weatherspoon's? presumably, the english were any pubs -- in need pubs and drinking beer?

They pointed out they were little worried about this time because of the hours.

Partially because of the expectations for english performance.

It looks like that has come to fruition.

The figures may be less than an a. that falls into -- what with the world cup hit in terms of today's earnings?

Sales have increased 10% to read that helps.

The world cup hit we will see in the next quarter.

It well.

They have been pointing this out for a time.

What about lufthansa?

We had a big profit warning last month.

Click the gulf carriers are flooding the market with capacity.

How is lufthansa doing?

And the question ryan wondering is oil.

The hedging for all airlines has been tricky of late.

Oil is affected by huge macro issues.

At the moment, it seems relatively stable.

You have to ask how long that will be the state of affairs.

As far as the policies are concerned, they find themselves in the middle of nowhere.

The cheaper carriers have them hedged in nicely.

And the luxury brands, they have a way to go to get up to that space.

That may well be the tablet for europe.

Tell us about shire.

The u.s. company has come back in and increase their offer 11 pounds.

The fourth offer now.

U.s. officers -- companies are looking at u.k. companies.

Why wouldn't you want to pay 80 13% irish tax rate?

It is unlikely they are going to completely ignore the u.k. seen.

They may well come back at a later stage.

Maybe just tweak the ratios.

Help us understand the headline that crossed about one hour ago.

It's as they have not gotten written support for the shire offer.

They talked away from the normal template.

They have talked to reporters and tried to call to -- talk to the retail client.

You can make a decent argument that they cannot understand the fair value of the company.

They have been a little bit nasty with their phrases.

Dca going to a fifth offer?

This is a multibillion dollar tax saving operation.

Nobody is counting their offers.

Nobody is -- it will take as long as it takes.

Stepping down, a legend in this country.

Some people are pleased to see him leave.

His pay is going to get questioned.

What do you reckon about where the stock is going to go.

You hope he gets a warm reception.

There were quite a few hot questions being fired at the board.

I think he will get a better reception, considering where the company came from.

I think sainsbury has some issues in the pipeline.

The -- they are beginning to bite into it.

They are out with their full day trading numbers.

Mark carney trying to cool things down.

Introducing macro tools.

We are seeing it has an effect.

What kind of impact will that have?

Gilford is looking for record profits.

They have seen 84% of their revenue pegged in.

Another house holder sitting comfortably.

They may be seating -- city more comfortably after all of the phraseology.

The cherry on the cake will be if some of this red tape over green belts can be turned by the government.

We will have to leave it there.

This text has been automatically generated. It may not be 100% accurate.

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