session in the next 30 minutes. mark: mining companies are dragging european stocks lower. the european close starts right now. ♪ we are going to take you from new york to london in the next half an hour, as you said, the china data kicked off all of the selling here. yesterday's gains -- were they an operation? data fell more than expected. the import data was an improvement. it still has eight-in front of it. grew .3%.a growth yes, it was closed down for the second quarter. demandll about domestic

and government spending, offsetting a slowdown in exports. of course, that is caused by the deteriorating global trade environment. that comes back to china. --ty: a good explainer there but wow. what a story with anglo american today. the last time anglo american it scrapped its dividends was in 2009. shares of 70%, today was not as .ad, down by 11% but they are at a record low. they have sunk 70% this year. all of these mining companies are desperately trying to counter the slump in commodities, which as you know, they have slumped to the low was level since 1999. anglo american is scrapping 85,000 jobs, two thirds of its

workforce. look at the shares, down by 11%. all of the miners are getting hammered today. an incredible story. we will have more on that in our bloomberg reporter in a little bit. let's check the first word news. courtney donohoe has more. courtney: we had two friends first. the rock band that was on stage the night the terrorists attacks in paris have returned. they made a surprise appearance with u2. later, they revisited the theater where they were playing. they escaped the carnage by hiding in a dressing union. the european union has moved to address cyber security. -- force businesses to strengthen defense against hackers. it requires companies to report the attacks. joe biden told ukraine's

parliament that the u.s. has their countries back in the battle with russia. the vice president says that the u.s. will never accept the russian takeover of crimea. he warned lawmakers to keep their own house in order. --ir president less president left last year during reports of corruption. oscar pistorius will remain on house arrest while appealing his murder conviction for killing his girlfriend. supreme court of south africa overturned the lesser sentence of manslaughter and convicted him of murder. that is a look at the first word news right now. you can get more on these and other stories 24 hours a day at the new bloomberg.com. i am courtney donohoe. betty: courtney donohoe at the news desk.

-- economic report of china this time it was the trade data that had global markets selling off worldwide, including here. exports dropped and a slump in imports. worrys data sparked this here about a global slowdown. we did get some less bad news out of japan and europe? mark: japan is in recession after all, the economy did growth last quarter after the initial estimate of gdp showed a detraction. thanks to private consumption and spending. does the market reaction, is it justified by the data from china alone? the fifth consecutive drop in exports? is it just china? it, a lot of the moves we have seen today are

traders waiting for the fed. get it over and done with and close the books for 2015. people are looking to clear her positions and be done with 2015. i think this may be a little bit of a liquidity selloff over the course of today. exportse data showed fell, imports fell, the yuan fell. are they managing a depreciation by saying ahead of the fed? jeremy: i think so. you have to remember that a week or so ago, a lot of people were talking about how they couldn't maylue before hand so they devalue slowly, on a day by day basis. still negative around emerging markets.

we will continue to see that over the course of the year. betty: i keep trying to wrap my head around -- we just had an investor here, a real estate investor, who said the fed hike of 25 basis points is really not that big of a deal. it is not a game changer here. so i'm trying to wrap my head around why the markets are pricing this in and we are seeing the volatility ahead of the move? don't think 25 basis points is a massive game changer but you have to look at the market reaction on thursday and .ust how much of a shift we saw a relatively small move away from the larger consensus. obviously, the wider conversation about the fed has to be what it looks like over the course of 2016. if the oil price story starts to call down in the short-term, the wage pressures might start start -- start to push back. betty: do you think that this is

a given? that the fed has their hand on the trigger with this given on what we have just seen in the last 24 hours? what if we see repeated days like this in the coming days? jeremy: the question is, is this similar to the early part of august? we saw china start to weaken the yuan. the big devaluation on august 11. and then emerging-market equities fell and everyone started talking about pushing the hand of the fed off the lever. it is tough to tell. think even if they don't want to do it, they have to do it. oil -- brenttioned is below $40 today. is this good disinflation? some are saying that it stems from supply rather than demand. is this a good thing for

economies? jeremy: i think this is good in the short term for the new, developed economies. it is a good thing for the eurozone which is still short on demand. as a component of gdp, moving forward. year, going back to the speech last summer -- talking about how they want to -- rates and there was a push lower of inflation may have saved them in the short-term, it may come through in 2016. the fear is, what happens in the corporate sector as a result of these continually low prices? mark: you couldn't say that ignited growth? why will it this time? jeremy: i'm not sure that it will. it may give policymakers a little bit more of a chance to reassess what they want to do. i still think -- apart from, no, including the fed --

, followingre seeing up on oil prices as we mentioned at seven-year lows and metal prices going down to eight-year lows, does the china demand or matchown, does it seem to the levels of declines that we have seen? does it really match? jeremy: no, i don't think it does and it will take a long time for the china situation and the emerging-market situation to be able to pick up this supply from wherever it may be at the time of the indicator stopped northward. either out of china or indonesia or asia. -- 38pply is still million barrels a day? anything more than that and it will take a long time. mark: the ecb, five days ago, a

longtime tomball. is there going to be more stimulus? in 2016? or is that it? jeremy: if we see commodities crash again and we see -- start to head towards zero in the eurozone, yes. but i think the ramifications have taken over now. mark: thank you for joining us. this is jeremy cook. he is always first with the opinions. betty: he looked happy with that title. [laughter] still ahead on the european close, a commodities slumped as we talk about hitting one of the -- angloiggest miners american. however he facing the current headwind? we will be back. ♪

betty: welcome back to "bloomberg markets," live from new york and london. this is the european close i'm here with mark barton in london. now time to take a look at some of the biggest business stories. air france says it has lost -- since the harris attacks. it slumped sharply after the attacks and it could take six months the for bookings returned to normal. united airlines is offering a guaranteed to corporate customers. as reliable asbe american or delta, and if not, they offer upgrades.

they guarantee is available on reliability rates. it has risen from the bottom have to the top half. someone may have displaced three large objects. boeing jumbo jets appeared to have been abandoned in will asia best selling newspaper says that if no one claims the owings, they can sell them. they have been parked there for more than one year. incredible. you can get more business news at bloomberg.com. let's get back to the big corporate story today, anglo-american. a story and what a space the commodity industry is it today. been discussing that on the bloomberg commodity index -- falling to the lowest level since 1999 egos of the week china trade data. announced aan has

series of measures, including the scrapping of the evidence -- the dividends. the last time they cut the dividends was 2009. we are joined by thomas thomas. -- we are joined by thomas biesheuvel. the last time it was cut, it came as a surprise, this time it was well flagged. most people were aware that the cut was coming and distill it has been an aggressive response. mark: we knew it was going to cut jobs but we didn't know that by the end of today, in the future, looking ahead, we would be looking at a mini me anglo-american after they cut 85,000 jobs. thomas: it is a dramatic downsizing for this company. a have a huge conch on what past

-- have a huge, glover it passed comglomeratee past. mark: is it enough? thomas: if you look at the data, no. there was a lot of focus on if they are going to raise money. the company refrains from saying no. thomas, a letter people are saying that for the miners right now, the only way they will recover is if they cut back from production. what are we hearing from others? mark: thomas couldn't hear. to cutting back from production, what do we hear from the other big miners? where: it all depends on

you are. if you can't afford to mind at this level, you continue to do so. the companies that can't are cutting back. -- has no real concerns at the moment. at least not the concern that anglo american had. face could anglo american liquidity concerns? is the ability to continue is a concern? do they have the same concern when it comes to cash? thomas: they have a lot less debt and they have good liquidity so they do not have the same short-term concerns. mark: does -- have the support of shareholders? down 80% since he joined. that is not a record you would be proud of. but he inherited an incredibly difficult operation.

he was brought in to try to fix things. i think he will get more time to do that. mark: good to see you. thomas biesheuvel. 10 biggestf the decliners on the ftse today were commodities. it is a heavy index when it comes to mining companies. betty: in the u.s., industrials are the worst performers right now on the s&p followed by energy and materials. the dow is still down by 139 points. we are 100 points better then we were at the local of the session earlier this morning, so we are recovering. market.s a volatile i have abigail doolittle here on the company movers. abigail: we are seeing a recovery here at the nasdaq. it was down more than 1% earlier

but tesla shares are getting hit today. the has been a lot of noise around this company with the model s sedan seatbelt recalls from porsche. bernstein is saying that tesla could struggle with manufacturing scale and production. certainly important long-term factors to consider, but in terms of stock performance, more important is whether the country will meet of 2015 production target 50,000 deliveries and can they achieve cash flow as promised? there is a high 20% short interest here. against elon musk so far has not been a successful opposition. the stock is up almost 850% since the ipo in 2010. another big loser here at the

american natural food, the distributor of kind bars. they missed the estimates. says thatinner increasing competition and shipping dynamics -- and shifting dynamics are to blame. the plunge has left shares cheap. that could create an inflection point at some point for a stock that is now down more than 50% year to date. betty: thank you, abigail doolittle is live at the nasdaq. battle of the charts. mark: coming up in the big battle of the anglo american news cutting the dividends, i have a charge that highlights how much value has disappeared from the european mining industry since 2008, you wait for it. ♪

betty: you are watching "bloomberg markets," at the

european close. it is time for our adolescent the charts where we take a look at some of the most telling charts of the day. joe weisenthal is the anchor and he joins us now. joe, kick things off. joe: everybody knows about the -- onlloff and the currencies, here is a pair that you might not be paying attention to unless you are focused on scandinavian currency, this is the norwegian crone first the swedish krona. it has fallen below parity. it is headed to the lowest level since 1992. the norwegian economy is an oil economy. see, back in 2009 there was a huge surge and it was a safety area but it has been really ugly ever since then and that chart tells the story. does, we are right

back to where we were over 20 years ago. mark, what about you? mark: i have been intrigued about value instruction -- value destruction in the mining industry. any figure above a hundred shows a gain, any figure below 100 shows a loss. was when the stock starts but since then, you can by 71% ande is down in terms of value, that is 343 billion euros. -- the world's biggest steel producer in this time had fallen by 94%. by 91%.erican is down bhp -- they have dropped a minimum of 64%. how can you make money from 2008 is -- 2008 in the basic

resources industry? -- in the last six years, it has risen by 337%. minor, looka pure at -- it's up by 88%. so the answer is head to sweden. my favorite color of the day is definitely read. betty: you actually remember so for that, mark gets it today. how are the sweetest miners doing so well? it is a swedish packaging company. it is within the stoxx 600 basic resources index. up -- mines copper and it is high 88%. what caused that is a flight

misleading one but definitely, a copper company. betty: we say goodbye here in new york. what is coming up in europe? fifth day of declines. here is what i am watching tomorrow. those are the numbers. the china data continue to -- factory inflation may extend to record streaks. very quickly, myanmar stock exchange is officially open. opens to they outside world to spur investment. closeerg markets european is done. i will see you tomorrow. i love the color red. ♪

>> it is noon in new york and 1:00 a.m. in hong kong. >> welcome to "bloomberg markets." ♪

>> from bloomberg world headquarters, i am scarlet fu. >> and i am alix steel. will prices falling again before recovering slightly. are we closer to a floor? >> america's top -- returns. we will see what he is vying for his third champion. >> and not everyone is enjoying the mild winter. retailers are feeling the heat from the warm temperatures. i love the heat. on today's activity, we want to head to matt miller for the latest. we are grinding our way higher. we are still in the negative column. matt: