♪ ♪ dani: good morning from bloomberg's european headquarters. 6:00 a.m. in the city of london. here's what you need to know. u.s. stocks gained for a six day, pushing the s&p 500 within a whisker of a fresh record as bitcoin searches past $66,000, an all-time high. tesla profit beats estimates but shares fall in late trading as revenue disappoints. supply constraints will hurt

plans to boost output. earnings season ramps up. bill gates speak -- will be speaking to lots of executives. the earnings are coming fast and thick. many of them reporting in europe. lines breaking just now. third quarter commission income amiss, coming in at 3.8 billion krona. the estimate was 3.6. that's their fee and commission income. will that be enough to make up for the net interest incomes that banks have been struggling to capture? third quarter net loan losses coming in at 18 million swiss krona. net interest income just slightly above estimates. this has been a pain point for a lot of these banks. 6.5 9 billion. again, a slight beat on most of these numbers.

net income slightly beating as well. we will be speaking to the swiss bank ceo, don't miss that conversation at 7:00 a.m. london time. from banks to tech. sap lines breaking as well. they confirmed some of their preliminary results that they put out earlier in the month confirming those and therefore your outlook rate that they had raised on october 12. they have a lot of clout demand. that's what is pushing them for that momentum accelerating in their words, significantly. they have this new sweep of products that they are trying to phase out, moving companies to the cloud. they are citing the switch for customers to their newer suite of operating -- offerings as what is gaining their revenue. software sales for the grant crowd, 22%. about $9.5 billion in the third quarter. this is the middle of their

turnaround strategy, the ceo saying they see a record adoption of their applications. coming up, we speak to the s.a.p. cfo at 6:30 a.m. london time. there are still plenty of earnings and sales updates to come. we will be getting volvo short league. we get sales from print elbow cars. the turn of the u.k. heavyweights. we get results from barclays and a trading update from unilever. a lot of micro dominating the markets this morning with all these earnings. let's see what's happening in the broader picture and markets this morning. let's get to juliette saly in singapore. the corporate news coming fast and thick. is there any overall theme to the markets this morning? juliette: we are seeing a little bit of a risk off tone. still a lot of concerns about inflation, china's property sector.

s&p futures dipping slightly after we saw more games -- gains coming through on the s&p 500. probably no surprise that there's a little bit of a potential fall back coming through on the wall street session. in a shirt, stronger yen. two days of gains. china's property sector. ever grand coming back online after they say it is scrapping the seller. the cash crunch weighing into its shares. more broadly, the property index in hong kong holding up quite well. comments coming through from the vice premier saying that this can be contained. fresh record, 56,000. bitcoin pulling back slightly. there's optimism in bitcoin. really starting to gain as it becomes a more mainstream asset. jp morgan saying that you are starting to see the token, which

fell below 30,000 in june, as a better inflation hedge against inflation rather than gold. dani: thanks so much. bitcoin to the moon. speaking of bitcoin, tesla's third-quarter profit be projections as carmaker reported revenue that fell short of wall street estimates. let's bring in for -- christoph crowell. what was the biggest a prize that we saw in the earnings report? christoph: good morning. many were disappointed about the mixed picture. the actual numbers of revenue falling below estimates. cross margins beat estimates. what stood out was the resilience of tesla and ramping up production on the backdrop of the global chip crunch. when you look at what's happening in the marketplace to many of its rivals, everybody is

struggling big time to cope with the shortage of semiconductor chips. given that tesla is wrapping up production, i thought that was quite remarkable. the market reaction was a business -- bit disappointed maybe. dani: we saw the shares aftermarket falling more than 1.5%. thanks for staying on top of this for us. european leaders are gathering in brussels this morning for a two-day summit where soaring energy prices across the continent, on top of the agenda. we are joined by maria tadeo in brussels. finally in the studio, not out on the street somewhere. of course, you are watching this european summit. we have the energy supplies. are we expecting anything conclusive that could increase supply and lower prices that europe is facing? maria: yes. good morning. in the new studio.

look at it. i'm so happy. it makes me want to work. that's good for a change. when you look at today's summit, this will be about the energy. we know that for european governments, there's incredible pressure to shield consumers as we enter the winter now. number crunchers have taken measures to not pass on that cost from a wholesale to the households but they argue that this is not going to be enough as we enter winter. there's a lot of pressure on the commission to take collective action and be able to negotiate some of these big energy contracts. there's been many ideas floated around to do this. joint procurement, to buy the contract together, to negotiate longer term with some of the big energy leaders. the problem here is the energy market in the european union is very complex and fragmented. countries use different sources of energy. it's hard to see how we get a package measure that fits them all.

we know that there's the geopolitics feeding into this. vladimir putin increasing the pressure on the europeans saying, i can increase supply but it will have to be done through the pipeline. both berlin and brussels agree that they don't want to be blackmailed by russia going into the winter on the gas. dani: thanks so much. maria tadeo. coming up, still all about earnings. net income of one billion euros for the third quarter, a bead on estimates. we break down those numbers with the president and ceo, next. later on, plenty more earnings to come. this is not one you will want to miss. the ceo of barclays as well as unilever and sweat bank. everything from industrials to banks to attack, we have you covered. this is bloomberg. ♪

dani: welcome black -- welcome back to bloomberg daybreak europe. net income of one billion euros for the third quarter, beating estimates. the finish bank announces a 2 billion euros share buyback program. joining me now is the president and ceo frank vang-jensen. a third quarter be. you said that you've also looked to deliver a new set of financial targets and business plan as well. i'm sure you can't give us the specifics yet. you are working on updating those. and you give us a flavor of what that update might bring? frank: good morning. yeah. we have get again delivered a strong quarter.

that's why we are now updating our business plan and our financial targets. the third of february next year. let's come back to the details in three months. dani: fair enough. you've also yesterday announced a share buyback program of about 2 billion euros and a second want to come as well. how do you reese -- see returning cash to shareholders at a time when central bank regulators are allowing this but many are voicing caution saying, the worst of the pandemic is not over. frank: yeah. we are strongly capitalized. we are having a very large buffer to our requirement. this month, we have paid the

remaining 2019 and 20 dividends of 2.9 billion euro. and then tomorrow, we will kick off our buyback program. after this has happened, we still have quite a big buffer towards our requirements and we are very well-capitalized. in a very strong position. we generate capital. i backs is expected to be a continued tool for us to distribute capital, excess capital to our shareholders. dani: does that mean that the second program that you plan early next year could be assess -- of a similar size or perhaps even larger? frank: i don't have any comments as to the size of the program. i think you should integrate parts of our capital distribution tools. we decided about this two years

ago. due to the pandemic, we were not able to use this tool. now we have the capital efficiency tools with us. as i mentioned, you should see that as an integrated part of the way we work with our capital efficiency. let's see what the next program, how big it will be. integrated as a part of how we work. dani: you are leaving us anticipating a lot of things here. let's talk about the macro picture. net interest income for the third quarter coming in line with estimates. really important to the banking industry as a whole. what's happening with inflation and rates. how do you see that picture evolving over the next year? frank: underlying, there's a strong recovery going on in nordics.

society has been reopening. we do see a lot of activity. within that environment, we are doing very well. gaining a lot of business and also increasing our market shares across the nordic. just to give you some small headlines, mortgage lending volumes were up 6% year on year and we've basically gained market shares across the board in all countries. especially encouraging to see also that the lending growth or lending to smes accelerated to 9% year on year. that's a sign of activity starting to pick up in the country. looking at the inflation, of course things are happening. i think we have to prepare for some inflation and thereby

probably also some increase interest rates in the future. dani: ok. what is your timeline for that? is that in a year, two years? when are you preparing for this? frank: it's very hard to say. when i speak to our clients, i speak to stakeholders, i sense what is happening. then it's basically price increases across the board. it's not like 1%. it's quite big increases. that will normally lead to also pressure on salary levels. i believe that would be a sustained increase in the coming years. but then have it will play out, what timeline, how much the interest rates will be impacted, that's very hard to say. dani: fair enough. you also talked about the expanding market share. are you looking at continuing to expand that market share through any acquisitions?

are you looking at finland or denmark for any opportunities with the exit of their businesses? frank: we have noted them and we will follow the development. we are already a leading bank in denmark and finland and have a strong business momentum in these countries. so it's not top of our agenda. dani: all right. thank you very much. wonderful to have you on this morning. thanks again for joining us. let's get over to the first word news with juliette saly in singapore. juliette: hey danny. the sca has cleared the way for millions of americans to receive covid-19 vaccine booster shots. the agency approved maternal boosters for those over 65 and younger people at high risk. it has authorized a single booster dose of johnson & johnson vaccine for those over

than 18. the fda also approved a mix-and-match approach, allowing any brand to be used as a booster for eligible individuals. acquit could pave the way for germany's first female central bank chief. experience political stance and gender will be key criteria for starting the post. former president donald trump on wednesday announced a deal that would enable him to regain a social media presence after he was kicked off of twitter and facebook. he plans to start a social media company called truth social. the move would occur well ahead of the 2022 midterm election. global news 24 hours a day on air and at bloomberg quicktake, powered by 2700 journalists and analysts in 120 countries. this is bloomberg. dani: thanks so much. coming up, bitcoin and other

cryptocurrencies, a globalist session. it surged to an all-time high and wanda -- in what one analyst calls a validating moment. we will discuss that, next. this is bloomberg. ♪

♪ dani: welcome back to bloomberg daybreak: europe. it has just gone past 6:21 a.m. volvo truck seeing a beat when it comes to their operating profit, coming in at just over 9.4 billion krona. the estimate had been for 8.7

billion. that's a pretty decent beat. likely what is going to capture shareholders attention is the impact from semiconductors, something that tesla had been hit by. they are seeing that the full year heavy-duty truck market will be lower than what they expected it might be the impact of those semiconductor shortages. 280,000 units. the north america heavy-duty truck market coming in at 270,000 units. demand is good. what is affecting them this quarter is the chips. the shortage of chips. from trucks to crypto.

the former chairman and ceo of goldman sachs spoke exclusively to eric shatzer. ♪ >> a lot of bright people think it has a bright future. i'm telling you, i have my whole foot put into the old world. it's not something that i gravitate to. i can think of a lot of reasons why it won't work. but i remember when they were auctioning off spectrum for cell phones and sagan, why would anybody need a spare cell phone? pull up to a phone booth. who carries a clunky thing? the point is, there are a lot of things in this world that have worked out awfully well. >> for somebody who used to run a bank, you sound constructive.

>> i'm open to it. i ran a bank and iran risk. you can't be close. you have to separate fact from opinion. nobody knows the future. there's all sorts of things. there's a lot of things that move in directions that i could not and would not have anticipated. no one else would have either. to come out and say that a market that is hoarding in excess of $2 trillion, that faces all these regulatory headwinds, that a lot of people don't like and we would enjoy seeing crushed, somehow manage, it doesn't look like it's flourishing. on no day has it looked like it is dying. >> do you own any crypto? >> now. dani: lloyd blankfein there speaking exclusively on bloomberg front row. bloomberg rallied to a record,

topping $66,000 for the first time. optimism surged after the launch of an eft for u.s. investors. what does it mean when it comes to greater mainstream acceptance for the digital currency? joining us now is mliv's mark cranfield. we saw bitcoin near this record after the etf but we were just talking how it's a little bit strange. you would not expect a futures etf to propel the underlying asset. what is the thinking there? >> typically when you get a new futures contract, it wasn't too long ago that we had to start bitcoin futures. typically, they are a hedging tool. the cash market or bitcoin and other crypto's. when a futures comes along, the first thing that people want to do, the easiest way to short a contract is a good way tutyourg. people might mostly by the cash but use the futures market to lock in some of the longer-term profits.

that's where you have the futures curve as well. what has happened with the etf now, it's increasing volume in the futures market of people that want to buy it. it is squashing out some of the people that were shorting it. it's as though you've got to bullish contracts going at the same time. instead of the futures being a drag on the cash market, it's enhancing whatever you see there. one of the remarkable things that we have seen this week is that you have rollovers. there's a new futures contract every month. this current october 1 will roll over into november. the spread between the october and november has -- it went above $1000. we have not seen anything like that in the bitcoin since the futures market was started. it shows that people are extremely optimistic on the prices for bitcoin over the next few weeks. it's also doing decent volume as well. it's really enhancing whatever view there is in the market about bitcoin. it's being enhanced by the etf

and futures market rather than taking away from it. dani: the big question is how much longer that has to go. i want to get to your other fantastic take this morning. you wrote that the misery index won't crush stocks. we have a chart of the misery index which is inflation plus unemployment, the u.s. and europe entering up ever so higher. if this isn't the thing that's going to affect stocks, what is it that could possibly and this rally? mark: it brings people's attention back to the elephant in the room at the moment which is inflation. and has become a hotter and hotter topic for traders. you can see that they are getting impatient with central bank's around the world. particularly g10 central banks. they want to see them taking action to get in front of the rising inflation. they no longer believe the narrative that we will get past it quickly and so they are taking it into their own hands. they are pushing yield curves up around the world. dani: all right. sorry to cut you off.

thanks for joining us. coming up, we speak to the abb ceo after the company reported earnings. this is bloomberg. ♪

>> good morning from bloomberg surveillance headquarters, just gone 6:30 a.m. in the city of london. this is daybreak europe, here's what you need to know. u.s. stocks gain for a six-day, pushing the s&p 500 with any risk or of a fresh wreck -- whisker of a fresh record as its urges past its all-time high. tessa profits beat estimates but shares fall as revenue disappoints. the ev maker warrants it will hurt plans to boost output.

earnings season ramps up. we will be speaking to a ton of executives, including s.a.p. cfo and the ceo of barclays. we are getting some earnings coming through from pinot ricard . it is a depot on organic sales in first-quarter sales. these sales numbers they are putting out. organic sales coming in at growth of 20% and the estimate was just above 16%. it's really helping them with the return of the bars. this that it was very dynamic this fiscal year, but now we have bars and restaurants back into full swing. they are expecting good sales so will be lower than this quarter's performance. with that in mind, let's get a check on the markets because it is the earnings that seems to be dominating sentiment so far this morning. we are looking at s&p index, which is declining as we continue to head through the future session, down nearly three tense of 1%.

some of that might be global macro concerns. we had tech underperforming. despite the fact we are looking at a u.s. 10 year yield hanging tight just below 166. we are looking at brent crude, a slight drop. of course bitcoin had 65,000 dollars after yesterday hitting a fresh record for enthusiasm tied to the u.s. futures bitcoin etf. that's get back to the earnings story and talk about industrials. it sees revenue growth hampered by supply constraints. we are now joined by a ceo buren rosengren. thanks so much for joining us. supply constraints, this is something that many corporations are dealing with. when it comes to your margins, your third quarter margin is pretty sizable, beat above expectations. how do you maintain margin at a time when we are faced with the supply constraints in higher prices?

>> good morning, thanks for having me. it is correct, it is a challenging market, exactly what we said during q2 moving into q3, semiconductors. but also the whole supply chain. as our decentralized model has helped this time, 21 divisions are working hard to compensate for redesign to make them more accessible for components that are available. i think that has been quite good. also keeping hike because control, which is important in these times. dani: this decentralized model helping you, is there more investments or more changes in the supply chain that abb itself needs to make in order to avoid or really alleviate some of the supply concerns? >> i think from the beginning abb -- it's a global company, but local operator, meaning that when we are in china, we produce

and develop in china, the same for u.s. and europe. so we are pretty local in this part. when it comes to the supply chain, single supplies are probably not the future. you will probably always be looking for suppliers in the nearby whether factories and where we are operating, as well as having multiple supplies. i think that's going to be the future. when it comes to semiconductors, the situation is what it is and i think it is affecting the investments in that industry that will take time before it meets up to the big demand in the market. dani: with that in mind, when do you expect the situation to normalize? what's your timescale? >> we can say clearly going into q4 we will still have challenges, and probably in the beginning of next year. i know that many of the big semiconductor producers are investing hard and doing everything they can to supply,

but the demand is huge. and then you have the rest from the covid limited when it comes to supply because last year was significantly weaker. so this in combination makes it pretty difficult. dani: of course something that makes things difficult as well is the surge in gas and oil prices. what has that meant for abb? >> i think we are looking at the cost increases, and i think we are in some kind of inflation work today. oil commodities are going up. we are talking about copper, steel, but everything else. so today, we can everybody else is working hard to transfer these cost increases to the customers. i think this is an area where we have been successful to protect the margins. but, this will continue for a wild, and how long it will last is very difficult to say so far.

dani: in terms of those margins, you are seeing fourth-quarter operational margins declined sequentially. can you get more specific there, what are some of the drivers behind it, how much did thierry wait -- deterioration can we expect? >> i think we are extremely happy with the margins of the business, 50 1.1% is the second quarter. and as you know, this is a little bit of a magic number for me reaching that. yes, it is clear that it is getting tougher, and of course moving into q4 it will be even more challenging. we are trying to compensate with prices, we try to keep caught -- keep costs under control, which i think is important in these tough times. but so far i think the business has done a great job. dani: are you able to give us an estimate of what that might look like for the first quarter, that margin? wax i think it's a little bit too early, but we say that you

are going into q4 and it will be difficult to keep the margins as high as we see in this quarter. on the other hand, we would see significant improvements from last year. so i think we are moving slowly towards our target to be about 15%, which we have promised for 20 -- 2023. dani: the other development at abb is your plans are potential listings of your ev charging business. you had spoken to us earlier in the year saying that could potentially happen early next year. is that the timeline you are still operating with? >> that is definitely our objective. we have not taken a formal decision yet, but we are preparing the business to do that. i think it has been a very exciting time. we have seen orders weigh over 100% compared to last year, so that business is growing dramatically, which is natural

for the most countries in the world that are trying to transform their automotive industry towards the vehicles. we also launched the fastest charger this quarter, which could make it out to charge and 50 minutes. we think this might be a name change or. dani: certainly, countries all over the world and in europe really want to build up that infrastructure of electric vehicle charging. before i let you go, i do want to ask about china. earlier you are telling us how it's a very localized business you have there, how has the business in china developed, considering some of the fears of geopolitics and a growth flowed out in the region? >> of course there are political challenges in the world. on the other hand, if you are looking up the growth in china, we show that there is solid growth for this quarter. and i think it's may be to remember that even one year ago,

when the rest of the world actually was in crisis mode, china grew 8%. so in this quarter we are growing 9%. so i think there is a solid demand. on the other hand, there are power cuts and shortages, which makes it a bit more difficult, as did covid restrictions in the country, which makes it more difficult to operate and also to move into the country. on the other hand, we have like 16,000 people working there, more or less, everyone chinese. and i think we are becoming very local for that market. dani: thank you so much, great to have you on with us this morning. that's abb's ceo right there. let's get over to the bloomberg first word news with juliette saly and singapore. hello. >> the fda has cleared the way for millions of americans to receive covid-19 vaccine booster shots. the agency approve merger posters -- boosters for those over 65 and younger people at high risk. and it's authorized a single

booster dose of johnson & johnson's vaccine for those older than 18. the fda also approved a mix-and-match approach, allowing any brand to be used for the booster for eligible individuals. bitcoin rally towards a record, topping 66 thousand dollars for the first time as optimism surges for mainstream acceptance. that follows the successful launch of the first exchange traded fund for investors. the cryptocurrency added more than $1000 in a minute just after the open in the u.s. on wednesday. former president donald trump, on wednesday, and announced a deal that would enable him to regain a social media presence after he was kicked off twitter and facebook. he says the plans to start a social media company called truth social. it would occur well ahead of the 2022 midterm election. the decision to quit the bank could pave the way for germany's first female central bank chief, experienced political's will be

key criteria for filling the post. among the names in the running for the role, is the deputy, the ecb and the iw chief. global news, 24 hours a day on air and on bloomberg quick take, powered by more than 2700 journalists and analysts and more than 100 20 countries, this is bloomberg. dani: juliette saly in singapore. we speak to the cfo of the software firm on raising therefore your outlook, cloud revenue, and much more. that will be next. this is bloomberg. ♪

dani: welcome back to bloomberg

daybreak: europe, i'm dani burger in london. the software company expects a continued surge in cloud deals as customers switch over to its newer offerings. it's when the software giant raised its for your revenue forecast, a promising sign that the company's turnaround is taking hold. sap shares are up almost 12% so far this year. we are joined by the cfo of s.a.p.. great to have you on with us this morning, good morning to you. in terms of the acceleration of the cloud sales, i'm sure that this is something that comes up very frequently when you see the kind of numbers that s.a.p. posts. do you expect this piece, this momentum of the sales to continue into next year? >> good morning to you, and thanks for having me. we are extremely confident about the momentum in our cloud business. we just came off the back of an extremely strong q3. we actually had the biggest

cloud order entry growth for a q3 in six years. we see all of the key metrics in the cloud accelerating. cloud revenue is up to 20% growth in q3 coming up 17% in q2 with our current backlog. in its looking at metrics of future growth in the clouds that have accelerated by two percentage points. it's now of 22% in their currency terms, and that is giving us predictability going into the future as well. we see a great shot in our cloud erp offering, as far as our cloud, which is growing faster than the group at large with 46% revenue growth in q3, and even 58% of currencies cloud backlog. this will propel our growth in the cloud for many quarters to come, we have just raised our outlook for our cloud revenues for 2021. but it's safe to say, given that

we have already more than 80% of the order entry we need for next year's growth in the bag, and certainly expect a strong showing in q4 as well, that you will see further acceleration in cloud revenue as we move into 22 -- 2022. dani: what would be driving that? is it this upgrade of some of the legacy software, or, on the other hand, is a business is really ramping up their own investments? >> it's actually a tale of many cities. that's a good thing about it. certainly we have a great opportunity to transform and migrate our base of customers to the cloud, and together with s.a.p. offering this business transformation as a service to our customers, we are seeing great momentum. we added more than 300 customers with s.a.p. and the third quarter.

in the customer calendar is up by more than 500. this is one part of the story. the great and exciting path is that the migration of our customers in the cloud is driving significant opportunities across the entirety of the portfolio. actually, in q3, all of our solutions, all of our cloud solutions have been growing in double digits, which is a great signal of this portfolio strength that we have. and then we are bringing new innovation to the market as well as round sustainability and business intelligence. so many more growth drivers beyond just the transformation. dani: what about the growth of your concorde business? that is your travel business. what insight can you give us on how far away we are from business travel returning to the levels they were pre-pandemic? >> we have actually seen a slight improvement in the

transaction volumes in q3, as you would expect, more countries have at least partially opened up to travel again. so for the first time since the outset of the pandemic has actually shown positive revenue growth. is still moderate in the mid single digits, but we are seeing that this is starting to turn around now, they had a very good order entry quarter now in the u.s. they assigned one of the largest deals in their history with the public sector customer. so the order entry growth was up in double digits and businesses are giving us every expectations as we in 2022 with further improvement in the rates of vaccinations and international travel that could start to come back as the growth engine of the s&p and what we see in the mid-single digit growth in revenues in q3. dani: if travel is one area of

business that covid disrupted early on, some of the disruptions we are seeing now are tied to the supply chain. of course, s.a.p. offers supply chain as well. what are you seeing there? does that affect s.a.p.? some of the supply chain bottlenecks that corporations are struggling with? >> let me answer into different ways. i think the supply chain disruptions that we have seen across various industries are actually a strong argument for companies to invest in digital supply chain solutions that allow customers to more swiftly adapt and also change their supplier base, and this is exactly what we are driving with our business network solutions, as well as our digital supply chain management solutions, which we call integrated business planning panic --. in a both of those we see a surge of growth, as well as in

the management networks. we are back to double-digit growth, and the digital supply chain management portfolio is growing much faster than this. as far as it relates to s&p's own operations, we obviously see the semiconductor shortages that are making it very important to plan with the sufficient lead time for any additional investments and additional capacity buildups in our data centers as part of our cloud operations. and we are also seeing delays and orders. but we have obviously started to plan ahead and are looking to invest now in q4 already for the growth that we expect in part of next year because this will not go away anytime soon. >> we are running out of time, but before i let you go, i do want to ask. in your position as a german corporate leader, what do you

make of the coalition forming and german leadership between the greens, the ftp and the stp? what is it mean for the outlook of business in germany? >> first of all, i think it's important that we will have a government. last time, as you will recall, it took too long before we had one in 2017. in the signals that we are getting that coalition negotiations are starting now, and that every party is confident it will come to an end before christmas. it's obvious the first good news. we clearly in innovation and investment agenda for germany over the cause of the next couple of years, the climate crisis is a generational challenge to be tackled. and that smart investments in digital technologies and smart investments in the right infrastructure are going to be critical to make germany more competitive on the front of

being a digital business environment, and those are all aspects that we see at a high level in the current agreement, but of course they need to be laid out in greater detail in the coming weeks, and we are looking forward to collaborate closely with the new german government as one of the meaningful corporate in germany, and certainly the biggest software company in the country to help the country get to digital transformation. dani: we will have to leave it there. thank you for joining us this morning. that's the cfo of sap. plenty more earnings conversations to come. we have the ceo of barclays and unilever which will be joining us in the next hour. coming up, bitcoin surges to an all-time high after a successful launch of the inagural etf for u.s. investors. that's next. this is bloomberg. ♪

>> it has been quite a rally. >> we will see all-time highs with bitcoin every month on a forward basis. >> never say never. one year ago we were probably trading at around $12,000, so it's crazy to think that it's 6000 now. >> i would think about buying it. >> i think it's getting the institutional adoption that many have been talking about for years. >> when you get some of the really large pension funds, it does not take much to push prices up another 50%. dani: some of our guests giving us their input. it tops 56000 and it's dipping below there today. it's down 1.5 percent, below 65,000. a lot of enthusiasm for this space. the proshares bitcoin etf

reached over one billion assets in just two days. that's the fastest it has ever had. it just beat the record, the prior record of taking three days to get to that level. that was the very well known old etf that did that about 18 years ago. that gives you an idea of just how much excitement is surrounding this etf. we will see if that continues to push prices higher. let's take a look at some of the key events we will be watching out for today at 12:00 with a decision from the turkish central bank. because of the wake of president erdogan hiring three central bankers having sung to a new all-time low against the dollar. the lira continues to be the worst performer in em this year. at 2:30, eu leaders meet for a summit in brussels. on the agenda we have covid and other issues. this afternoon we work will finally get to list on the new york stock exchange. plenty of earnings conversations to come. we will have ceos of barclays, unilever all throughout the

morning. that's it for us at bloomberg daybreak: europe. lots of earnings to stay on top of this morning. still looking out a little bit of softness in this equity market pre-open. the european open is up next. this is bloomberg ♪ -- bloomberg. ♪

♪ anna: good morning. welcome to "bloomberg markets: europe." mark cudmore joins us in london this hour. the cash trade is less than an hour away. evergrande shares sink while a worsening cash squeeze. . a looming dollar bond deadline could tip the developer into