we are going to wrap up those trades over the next 30 minutes with martin. investors are counting down the seconds to those fed minutes. the european close starts right now. ♪ betty: we are going to take you from new york to london in the next half hour. things off on the markets, as you said, we are waiting for those fed minutes, mark? market: they are twiddling their thumbs after the release of those minutes. risk year after that predawn paris raid in a suburb of leading to the deaths of two extremists. don't forget that yesterday the stock 600 rose the most in six jumping 2.5%.

glencoe shares have risen for the first time in 10 days, relieving the pressure to drive the $10 billion debt cutting plan. don't forget, betty, he shares this year have sunk by 70%, some decline. betty: i know that you are also watching the deal that was announced. air gasan purchasing after the stock declined on the closed. mark: you said it, shares in switzerland today are down by 7.32%. is it paying too much for airbus? that's the question being asked today. at $10.3 billion price tag. jpmorgan called it expensive but that the price tag reflects a hefty scarcity premium that still lingers in the consolidated world of industrial i've been ahe way, bit of -- i been a bit of a

nerd. deals markedin worldwide, a market uptick from last year. this was a record year for mma and the record year continues unabated, doesn't it? absolutely, if you watch the action all year long you would not be surprised by those numbers. let's move on to our bloomberg first world news. courtney donohoe has more from our news desk. the families of islamic state leaders are fleeing the stronghold in syria, they monitor syrian civil war. airstrikes, onir the islamic state de facto capital. authorities say they found no evidence of bombs on board to air france flights headed from the u.s. to paris. both were diverted after anonymous threats. one flight from los angeles landed in salt lake city. the other flight from washington

landed in halifax on the canadian east coast. the plane will not leave until tonight. being blamed for a bomb that killed 32 people in nigeria, last night it exploded in the eastern city. in the six year uprising by islamic militants. rick perry is trying to get a state appeals court to toss out felony charges against him. they will he or arguments today on whether he should stand trial. he is accused of abusing his power while governor. he says the charges are politically motivated and blames them for his failed presidential bid. a new poll shows that donald trump is widening his lead in new hampshire. this survey from wbur shows trump leaving the field of republican hopefuls. ben carson and marco rubio our next, with 11% each.

polling within 3% of trumpet new hampshire. our first a look at world news right now. you can get more on these and other breaking stories 24 hours per day on bloomberg.com from the bloomberg first forecast. exclusive interview in europe, the gnocchi a ceo sat .own with caroline connan this was a big interview for you guys. mark: massive. the head of a big deal that we were just talking about. one of the topics we discussed was -- how does gnocchi or go forward after the attacks in paris, doing business in france and across europe as well? >> we feel great solidarity with the people of france in the face of this tragedy.

whenever this happens anywhere in the world, it's not a nice development at all. >> do you plan to address the message? >> we have actually had a and ie to the employees know that management has done the same. that their ensuring families are safe in their first port of call. thatve tried to ensure everybody gets back to work and as a result, continue to fight and do the right thing. as i said, great solidarity with our people there in france, but also all victims of terror everywhere. generally with all the people who live in france. >> do you think that these threats are going to have an

impact on business? >> we don't think so. we are of course vigilant and managing risk on a daily basis. but in my mind based on what we seen at the moment, i don't think that there is any necessary them back. >> obviously, no cure's trend in stocks today that has been televised before we go into details -- do you think that this could affect the mood of investors during? don't think so, i think that the investors will focus on the long-term attributes of this deal and what is in it for them as shareholders and the rationale being used is pretty solid. it's only become more compelling and last few months. i think that there is a lot in it for shareholder returns based on the value that we can create.

mark: that was an exclusive interview with the ceo of no cure. is encouraging to hear him say that there will be no long-term impact on the paris attacks. talking about the takeover, investors really like this deal. since it was announced the shares have risen 130%. remember, they sold it to microsoft back in 2013. investors love this company being up your telecommunications equipment company rather than being a traditional mobile phone company, which of course we know going back 10 or 20 years. betty: we remember that, mark. we remember the older generation. [laughter] speaking of the s&p peak right

now, the dow is up 131 points, the s&p is higher by 7/10 of 1%. helping things along, apple shares rising along with energy stocks and health care. quite a few sectors are gaining. we have a lot more ahead on the european close. we will hear from the ceo of the london stock exchange in a few moments.

"bloombergme back to markets," this is the european close. bucked the declining trend across europe today, rising for a third consecutive

day. one of the big gainers was glencore, which we will chat about in a second. indeed. in the meantime we want to look at some other bloomberg headlines crossing the wire. a look at some of the biggest business stories in the news. mark lays paying $115 million to banking regulators to resolve an investigation into currency exchange rigging. an electronic platform allowed them to cancel unfavorable trades. they already paid millions to a variety of regulators in the case. sky has upgraded service to fund off challenges from netflix. the service is called sky q and it lets users watch programs simultaneously from multiple devices, recording up to four programs at once. sky is backed by rupert murdoch. commodities may sell minority shakes -- stakes in firms familiar with the matter, saying that dreyfus is looking for ways to buy out the remaining family

shareholders. about 10%- she owns of global farm commodity shipments. you can always get more business news at bloomberg.com. as mark was talking about, staying with commodities another company we are watching today is glencore. shares of the commodities giant under pressure today, since bouncing back. this is an uphill battle against a massive commodities slumped that you are still seeing today. >> the commodities slump is hindering its plan to cut $10 billion in debt, but the chief executive wants to achieve. let's bring in our bloomberg news reporter for joining us. stage today, shares were down 3.5%, finishing up showing the volatile nature of shares that were of a pleasing nature. day have ended their nine

losing run, the longest losing run ever, wasn't it? 2011.was since the ipo in it is still under pressure, below one pound, massively down since the ipo. remember, the company was floated in the lumber market at 530. around 90 today. improvement at the end of the day, it's still a dire situation. sank on the shares september 28 when they released their notes, saying that the equity value could be wiped out, the company has come out and it has announced a lot of measures. are those enough to counter the slide in commodities prices? >> two weeks ago it was more than enough. investors were not pleased. the share price recovered and it was like they had been able to pull it out, announcing and

delivering more than what was announced, going in the right direction. since then corporate price is a big problem, falling to a really putting in doubt the cost-cutting measures that were announced. sometimes the prices continue to go down. they would have to do even more. mark: it is a cliche to say everyday that industrials are full -- falling because of chinese concerns. what's going to stop the slide in industrial metals? >> look, we knew that these two years would be difficult. we had new supply coming onto the street -- precisely because of the high prices. have cut output. >> everyone else is increasing production.

this is a time when china is not buying. china is an metals lot bigger than others, all of china accounting for 10% of global demand, incorporating 50%. what happens in china is in the end what happens in the market. market: javier, great to see you. the 12 point projection for glencore shares is 173 p. we finished today at 93 pence. analysts are actually very bullish on the shares, but i tell you what, that projection has come down since january. you wonder what it will be in a few months. you do. given the volatility and commodity we have seen, thank you to hobby air and a quick note on glencore. peter brower, the chairman of bloomberg lp news is a senior independent executive director at glencore. meanwhile, back in the u.s. as i mentioned, we are pretty much peeking, hitting a peak on u.s.

stocks. part of that had to do with apple and the other tech shares. abigail doolittle has more from the nasdaq. abigail: yes, we are seeing a nice rally with a composite index up a tenths of 1%. we have been watching too stocks trading to the downside in an outsized fashion. one of them is qualcomm after south korea accused them of trade reaches saying that the company violated local law around licensing activities. the regulator may find qualcomm and force it to modify its practices. qualcomm shot back calling it a serious this application of law. however, when we look at the stock, down 30% year to date in part because of investor concerns on the licensing of business to china. investors may be making some kind of connection between them. another stock down significantly, citrix systems, announcing the initial results

of its operations review, they see earnings and margins above street estimates for fiscal years 16 and 70 that say that they are cutting 1000 jobs and planning to spin out it's go to business. investors don't like this news. the stock has sliced below its average is today on strong selling activity. shares are down more than 10% this month alone. betty? >> quite a drop. thank you, have -- abigail. marketsld financial rapidly changing, the ceo of the london stock exchange group says the competition, transparency, innovation and clarity are key. in addition to running one of the world's biggest stock markets they also run one of the top clearing venues for a growing index business. the ceo is here with us and erik schatzker. there are nice to have you here. welcome. let's begin with this, you believe that there will be more

consolidation in your industry. the business of exchanges, the business of indexing and intellectual property around securities. what's it going to look like five years from now? think that the bulk of our customers are already global. investment banks, pension funds, they need to have global pools of liquidity and access to it. regulatory capital, clearing collateral market and management provides that with access to intellectual property, essentially benchmarks in the market on a global basis. china, thankfully today, has decided to opt into capitalist economies. today we have a major player that represents 25% of world financial assets joining our global economy. a small number of players, we believe, globally will provide as infrastructure these services on of executive basis.

meaning -- erik: meaning how many? xavier: a handful, frankly. one would likely be in china, , and one or two in the united states. that's a sort of outcome we're talking about. none of the most obvious candidates, right now. is a part of ice, for example, cme or deutsche versa or any of the asian exchange operators are a global business. how is this going to happen? well, it started to happen. our industry is like a giant construction site of each of the players that you mentioned earlier. having achieved global relevance in one or two areas. if you leave -- listen carefully to what they say, the strategy continues to be to roll out these products on a global basis. and'se vacancy douche

getting margin offsets and regulatory capital savings across the core of their trading businesses, getting access to global indexes is key. started tos have achieve relevance in the last six or seven years. i can confidently say that rip and clearing businesses are not only global but local leaders. your rallying cry is transparency and open access. xavier: it certainly is. erik: does that mean it's not going to be a consolidator? xavier: ultimately it's not up to us to decide. erik: if you are going to buy someone, that's your decision. somer: we have done acquisitions, but the serious part is that some obviously believe that consolidation is the only way to effectively acquire local players. the alternative that open access presents today is an area where the only global open access exchange point is an world, an area where we have strength and others don't, we can match it,

licensing of indexes or clearing with weaknesses in areas where they are stronger than we are. we can license those to them to achieve the same. at the end of the day it's about customers enjoying regulatory capital savings and index efficiencies. open access is also a way to create global access. betty: intellectual -- erik: intellectual firms are important to your theory, so why then do you not -- just throwing it out there -- going to buy a company like market? there is a great deal of intellectual property there and a lot of indexes on which businesses are standardizing? xavier: i would not comment around any specifics from the leader of the stock exchange, via that. very least the idea. quite intellectual property services represent 37% of our global revenue.

in thethe revenue is united states and north america. 20% in the eurozone, the rest in china and asia. we are globally positioned, but leadership that some in acquiring russell created what we believe today was a prime the positioned index company in this world, with what we believe at the moment is definitely in the top three in terms of assets on a benchmark. that's a service we can offer to clients, but i won't speculate on what we might or might not do in the future. i do think that one question that you ask is relevant, in the sense that more a lot of players who only cover a small spectrum of the services on sales, they seek to offer to our customers -- unless they can be acquired, which would seem difficult today, given the relative size of the industry -- they either have to charge an independent course in a very limited, i

would say, all's niche -- almost niche, or become part of a bigger group. but that's a decision for them. erik: thank you very much. that was the ceo of the london stock exchange. you can see, it's not just about stocks with him. he's a much, there with the london stock exchange ceo. we will get back to the battle of the charts coming up ♪. ♪

to howi want to get back the european markets closed. we are up ahead of the fed minutes, but mark, you guys close lower, mostly? ftc in london,he rising for the third consecutive day.

gaining, after losing run it has had to endure. i suppose the big question is -- what is the fed going to say in the minutes of its last meeting? betty: and what was the dialogue around not just when they will raise rates, but how the path is going to look. i think of that is what traders are looking at, that journey, asthma home at el-erian mike's say, the journey for interest rates. we will get a year and that i'm sure you guys will follow-up in europe. mark: we will talk about it tomorrow, 4:30 london time. betty: all right, that is it for us. we will be back with more "bloomberg market." ♪

>> welcome to bloomberg markets. ♪

scarlet: good afternoon. alix: here is what we are watching. top hedge funds are cutting back on stocks. what does that tell us about where the market is heading? investortesting appetite for unicorns. a market value of $4 billion. alix: unveiling for new models. will they have them unveiled a luxury market in the u.s.? scarlet: first, a snapshot of market activity. i know you were super excited because of the headline crossing now. alix: falling for the first time below $40, we were kind of waiting for this to happen. bouncing off the four dollars level to get the inventory number