mark: not even mario draghi could stop the biggest drop in equities in six weeks. the european close starts right now. betty: we are going to take you from new york to london to berlin in the next half hour. we are going global as we do here. mark kicks things off. mark: you better believe it. spoke, and the biggest decline in six weeks. since october 22 when he first said he would press the stimulus in december, the stoxx 600 has risen by 300%. we are playing a waiting game until december the third. ands not all about draghi

yellen, it is about earnings as well. there is one company that has been striding the market. betty: it is a very high flyer, or a very speedy one, rolls-royce luxury stock. how do you account for the big flop? 20%, rolls-royce holdings has lost 1/5 of its value today. excel the most since 2000. since 2000.he most the dividends are up for review and the chief executive said, since i became ceo i have been covered within the organization that runs deeper than what was apparent to me. he sees no quick fix and says there will not be a recovery until 2017 post-restructuring. you do not see that every day, betty liu, a 19% stock in a ftse

100 company. betty: we are talking glencore in a little bit. with courtneyk in donohoe. courtney: good morning, betty. the european union considers one of its greatest achievements, the ability to travel within .ountries without a passport sweden has been the fifth country to impose temporary border checks to keep the increasing number of refugees. sweden is calling for an overhaul of the system which makes interview european travel similar to trips within u.s. states. the russian federation will partially admit to doping charges. officials may ban to -- rule to ban russia's track and field team from the games. remote he is the first indian

prime minister to visit the u.k. in almost a decade. he met with david cameron on 110 downing street. the u.k. is the largest investor in india. is sellingbama something on ebay, his new trade deal. asks them to support the transpacific trade deal. congress must still ratify the plan. the u.s. federal government is moving to ban smoking in public housing, affecting almost one million households nationwide. it would place the burden of enforcement on public housing agencies and could face resistance from tenets who do not want to give up control over what they can do in their own apartment. that is a look at our first word ons and you can get more these and other breaking stories

24 hours a day at the new bloomberg.com. i am courtney donohoe. betty: thank you so much. docket ise u.s., the crowded with the docket is crowded with a number of speeches from federal reserve officials. --ments from jan yellen janet yellen saying that research is needed on unconventional policy tools and she would not be drawn in by talking about -- we heard from bill dudley and vice chair stanley fischer. we heard from jim bullard so a lot on tap. it is not just u.s. central bankers grabbing the mike. mario draghi also kind of spoiled the party. earlier, made the speech before lawmakers in brussels. equities briefly rebounded but resumed their slide. the message was clear, the ecb may be ready to boost stimulus in december. date, we havee

had and still have a clear rule. we do not discuss market sensitive information in known public meetings. monetary policy to be effective, however, it is important to meet market participants and also to hear their views. remarks,emainder of my i will mainly talk about two issues. first, our current economic outlook and the upcoming reassessment of it at our december meeting. --ond, as requested mark: joining us now to decipher all of that central-bank top, james baffert. james: thank you. mark: why are european markets impervious to his message?

stimulus could be coming in december, but is there something else? james: he is a master of the talk and avoiding the walk. he -- the second issue is, it is all well to talk about the downside risk of inflation. there is a real question mark as to whether or not central banks alone now have sufficient ammunition to shift prices up. as weis a broad feeling see consumers and governments spending more money. mark: how much more bearish could you be? signaled in october at the ecb meeting that the stimulus is upcoming, it followed with a 5% increase. james: i think there is a real challenge in terms of the euro going to parity versus the

dollar. the u.s. domestic economy -- the strong and that domestic reserve will begin tightening long before the ecb begins easing. mark: what is the gap between if they go in december, and the bank of england? james: britain does lots of trade with the eu so if the single currency area is weak, it will drag down the u.k. economy. i would say there is a reasonable possibility that we get no hike at all in 2016, which is deeply non-consensus. james, i want to chime in with a quick question on this divergence between the fed and ecb. james: absolutely. betty: we have been showing this

chart this morning where we talked about what happened in 1994 between the fed and the german bundesbank and how that gap had widened at the time you saw the dollar so strong. there was a little bit of havoc wreaked at that time. do you expect that we will be able to control that a bit better, the volatility this time around? james: i think there will be lots of currency and economic volatility. it is clear that the u.s. domestic economy is reasonably robust. jobs remain relatively strong whereas europe is a mess. we have not dealt with the greek challenge that will come back to haunt euroland. mark: i have got to talk about rolls-royce holdings.

the company may be headed for an aerospace near-death experience that could see its shares dropped 80% from their peak. and it was january 2014 is down 59% since then -- the peak was january 2014 and it is down 59% since then. what can you say that gives a glint of hope? james: you are asking made to scrape the barrel and try to put an optimistic sense on what has been an abysmal set of numbers. 80, whichlly, the a3 , iss-royce is involved with the airplane for long-haul flights. the error companies like it, the customers like it. the businessink does have the capacity to turn very quickly. --we know, the contrary in

mark: james, great to see you. reiterate, rolls-royce holdings, the biggest drop since 2000. the biggest drop since 2000, before i was born. betty: i have no idea. you look amazing. james: what a ridiculous statement to make. it is ludicrous to pretend he was not around. betty: he is really a prodigy. two huge german companies reported earnings today, when did well and the other fell flat. results from siemens and rwe from berlin. that is next. ♪

mark: welcome back. live from london and new york, this is the european close. i am mark barton. it was a pretty miserable day, or biggest drop in european stocks in six weeks. betty: it is not much better in the u.s. time for the bloomberg business flash, a look at some of the biggest stories in the news. a strike by flight attendants has caused the cancellation of 950 flights. strikeforce -- talk about a sure thing, investors are all but shirt and the european central bank will cut interest rates. today, ecb president mario draghi signals he is ready to add the stimulus program.

colonel sanders may be coming to your front door. ksc starts testing a delivery service in l.a. and san francisco. expects to -- ksc expand into houston later this year. you can always get more business news at bloomberg.com. your fried chicken delivered straight to your door. ands move on back to europe in germany, or two huge companies reported their earnings. mark: one was top of the leaderboard and one was bottom. earnings on the low end of the range. siemens on top of the dax leaderboard. we spoke to joe kaiser, who gave us an automatic -- optimistic outlook. that every industry -- quite a strong

forecast and guidance for a year that may be challenging in the overall economic environment. if you look at the geopolitical environment, that certainly is not helpful either. mark: hans nichols is in berlin. siemens was full of christmas goodies. if it all smelling of roses in the house of siemens? delayit is smelling of a or giving them more breathing room. what they did with the buyback, they signaled that they want to have a little more time to really make the company more efficient so they did have a three-year, 3 billion share buyback they announced. therefore billion share buyback just concluded. it finished up pretty high, close to 4% on the increase. if you look at what the actual numbers were, what we focus on

with siemens is the trains to turbines. that's all their overall net notme come in much better, much better, 200 million better than expected. the negative side on that is eir profit margin is going to be in the 10% to 11% range. siemens has really wanted to make this more of a lean and profitable company compared to its peers, abb in switzerland and general electric in the states. the topline numbers look pretty good. there is some concern about china and the ceo was clear, they do not know what the macro environment looks like. betty: is china one of their biggest headwinds to come? diversify have try to and so they have a lot of offshore wind turbines. that was one of their units that sold really well. a lot of their oil services and

oil bets are subject not only to what is happening in china and their service contracts, but what is happening with the general price of oil. brought -- bought dresser rain last year. they are diversified enough, it looks like they have had a pretty good quarter. they might sell some trains in there. i know mark likes trains. mark: hans, i want to talk about rwe because the news is not as good. electricity prices in germany have fallen 10% in the first nine months of the year. that got me thinking, surely hans nichols' electricity bill has been reduced. yes or no? have with the two

biggest german utilities is basically a split approach. they have hived off all their old, coal fire assets and will have a leaner clean energy company. this is all in response to angela merkel's energy event, wanting to switch the country away from fossil fuels and nuclear. it is down 55% on the year. those are not great numbers. mark: mrs. nichols is very happy. hans nichols in berlin, thank you. i see the s&p 500 is lower for the sixth session in seven. betty: less money these days has people losing a bit. we are at three-week lows and headed a bit lower. we are not sure what is going on but we are taking a leg lower in the dow, down by 163 points. abigail doolittle has more live from the nasdaq.

abigail: shares are trading lower at the nasdaq. let's have a look at a stock trading higher. j.d..com reported final numbers for its single day with a tweet, saying orders were up 132% to 32 million. gross merchandise volume was over. the company even emphasized all the strength using the hash tag accekkeration." even with the straight modeling perhaps this discrepancy will help break the stock out of its rains it has been trading in since its ipo. -- net easeripped has reported better than reported results.

the strength was driven by mobile games. berkeley -- shares are now trading at a record high. betty: one of the big gainers. abigail, thank you so much, abigail doolittle live at the nasdaq. mark: the big one is coming to the swiss market index is still lagging behind its developed market peers since inbal's tops stopped september. ♪

betty: you are watching bloomberg markets, the european close. it is time for our global battle of the charts. bartonsenthal and mark

staying with us from london. joe, let's start with your chart. remember a month and a half ago we were just talking about glencore all the time? it is back. the chart goes back to late 2004. it is a chart of copper in green and glencore in white. copper seems to have bounced a little bit but it has been diving again. glencore shares getting absolutely smashed, falling below one pound. anything metals related really seems to be back and glencore a prime example of a company being slammed a cousin it here it -- because of it. mark: what is going to stop this slump in industrial metals? it is down to 2009 lows.

nice if we gote some good data from china but we had that awful industrial output number earlier this week, and last night there was a surprise shrinkage in credit creation which caught basically all of the economists by surprise. that sinceis a chart markets have plunged to a two year low in september, the swiss market index has actually led -- let its peers. the dax is up 14% and the nikkei up 15%. are missing out from the hope of more stimulus from the ecb. i will tell you what is going on, the swiss has essentially risen by 1% since mario draghi in october told us we could print more money. it is a massive market.

they are suffering from what you have just told us, joe. a lot could depend on the euro. how much further could the swiss franc all against the euro? analysts say it will not fall too much from here. guys, i am told i need to declare a winner. i would say that mark gets the win because his chart is more colorful. joe: unfair. betty: tomorrow i will declare the winner of the chart of the week. mark: betty, i am just going to show you were markets have finished really quickly before we wrap up. market sinking, biggest fall in six weeks, the kleins all around. i want to tell you what is happening tomorrow. gdp data will provide fresh evidence on how the ecb's qe

program is affecting the real economy. matching the second quarter's pace. minister'sprime first visit to england where he will lunch with queen elizabeth and will rally tens of thousands of indians at wembley stadium. the company has planned blackouts almost every second day. i am still jubilant over my victory in battle of the charts. inwill see you tomorrow bloomberg markets, european close. ♪

♪ >> 1:00 a.m. in hong kong, welcome to bloomberg markets. ♪

>> from bloomberg world headquarters in new york, good thursday afternoon, i'm scarlet fu. >> here's what we're watching this hour. >> there is no reason to continue to experiment with extreme policy settings. the feds james bullard says it's time to raise interest rates but is anyone at the central bank listening? >> cisco on the earning stage after the bell, will china be a drag on the company? >> architect, designer, and author will join us. the sustainability pioneer talks design with health in mind. >> we want to get a check on today's market activity. let's check in with julie hyman for the latest. lots of fed presidents speaking. what kind of aggregate impact is it having? julie: