together, we're building a better california. welcome to "street signs." i'm willem marx. these are your headlines daimler in the headlights. shares in the carmaker skid at the open as it warns tariffs will impact full-year earnings that warning drives down the entire sector with autos the big underperformer as equities generally trade higher. hopes for an output deal increase as cnbc is told the cartel will not be swayed by politics >> this is not a political

organization this is a commercial organization as i told you earlier, we are not going to politicize the organizaon saudi arabia's market chiefs cheer the country's entry into the emerging market index saying it will attract $40 billion of inflows and increase the attractiveness of the saudi aramco ipo red lights on the european stock map. auto stocks are trading sharply lower after daimler issued a profit warning weighing on its german peers the carmaker cut its 2018 earnings forecast blaming global trade tensions daimler says sales of its mercedes-benz suvs would suffer from tariffs on cars exported from the u.s. to china

the group predicts its ebit will be lower than last year's level. the firm previously predicted earnings would rise. we're joined by tim schuldt. thanks for being with us how does this affect the sector as a whole >> it has impacts on pretty much everybody in the industry. but what makes it difficult for the companies is that historically they have targeted china with different approaches. for example, daimler is producing a lot of their suvs in the u.s. and export them to china. same for bmw on the other hand volkswagen and audi produce mainly in china or europe only the u.s. is now affected. it leads to very different effects for different companies. >> long-term outlook for daimler, do you think it will be impacted we were expecting earnings to increase and improve

now it's not a straightforward path for them. long-term is this a problem for them >> as long as it stays on the level where it is now, i think it's not going to be a problem in the midterm they have possibilities to change something. what they can do is switch production to china, that's any way ongoing. over time they will probably move all of their production there. in the short-term they have other remedies they can sell some of these models in europe but it's all up to what's happening next if the trade war continues, and gets even worse, then it could have long-term effects >> daimler sounds like they're in relatively good shape in the sense they can move or expand production in china. is that the case for some european competitors >> in the midterm, yes this is something which china

wants. they want more production locally. in the end all of them will be able to increase production. it's not something you can do from one day to the other. >> do you think that the u.s. administration would be happy with this consequence? >> this is probably not what they want to see the question is what do they do next will they just continue and come up with even stronger measures against china and other countries? then this could really be a spiral which never ends. but clearly this is not what they want. they want more production in the u.s., and this is the opposite of what they're getting now. >> would you anticipate we will see other profit warnings from some of the big european automakers on the consequence, on the back of what's going on between the u.s. and china >> i think volkswagen will not be affected by this.

they have production mainly in europe and/or in china there should be no immediate effect bmw has to face similar effect they produce more cars in the u.s. and export them to china compared to daimler. they will face negotiate sieve effect if it is a profit warning, one will have to see it's not just one effect the profit warning for daimler was also a combination of other smaller effects. there is always the question how much head room you have to your guidance but i think clearly they will be negatively effected. >> do you see this being a boost for domestic production of cars in china >> yes there's only one lesson you can learn from this, the safest way

to operate is to produce locally what you sell locally. and as china is a very big market, it will definitely lead to stronger production also in china. >> tim, thank you very much for joining us that was tim schuldt talking to us about daimler european union tariffs on u.s. imports worth 2.8 billion euros will come into effect tomorrow the eu is imposing a 25% tariff on a range of goods that include farm products, motor bikes, jeans and bourbon whiskey. the trade commissioner said europe was left with no choice and the tariffs were measured, proportionate and in line with wto rules. china's commerce ministry says the u.s. is being temperamental over trade and that tariff also hurt u.s. farmers and workers. beijing says talks have been constructive but washington's behavior was unpredictable the chinese said this meant

their responses were tougher kayla tausche has more >> as the white house heightens trade tension with china, u.s. lawmakers on both sides of the aisle are on edge about the unintended consequences of tariffs. >> this thing is escalating out of control. >> reporter: wilbur ross defended the white house's approach to china which he laid out this way >> basic strategy is to try to bring enough pressure on parties who are not behaving appropriately so that they conclude that the alternative of continuing their present behavior is going to be more painful to them then creediing the requests we made

>> ross said tariffs on china did not go far enough. >> we were not able to accomplish enough to justify in the president's mind not going ahead with the tariffs so i think there are already some signs that we may get some ultimate resolution. i don't think the chinese want a trade war any more than we do. >> reporter: ross said the goal is to exact pain on china through tariffs but acknowledged some economic pain being felt in the u.s. as a result soybean prices have dropped due to fear of retaliation the price of steel and aluminum spiked as tariffs lifted costs globally leading in some cases to hoarding. lawmakers unhappy with the direction in trade are takin steps to limit its power but those measures would have to withstand a veto from president trump who says he believes he is solving the u.s.'s trade

problems kayla tausche, cnbc business news, washington. we'll hear more about those policies later today when wilbur ross joins our u.s. colleagues at 1:00 p.m. central european time global cfos say u.s. trade policy is the biggest risk factor for business. that's one of the key findings of the quarterly survey. some say president trump's tax cuts have helped their businesses, but more than half think the trade policy will have a negative or very negative impact on their company in the next six months. and political uncertainty in italy also occupied their minds. the five star and lega parties formed a government in rome after inconclusive elections in november 21% say they are not concerned

by contrast, those chief financial officers say brexit has not weighed on their business 70% say britain's decision to leave the eu had not impacted their company. 30% said the impact had been negative or very negative. not one of the cfos said their company has seen a positive impact from brexit got views on trade or on brexit? get in touch on twitte twitter, @streetsignscnbc, you can also tweet me directly coming up, we'll be live from the opec seminar in vienna where the cartel might be inching closer to a deal these birds once affected by oil

are heading back home. thanks to dawn, rescue workers only trust dawn, because it's tough on grease yet gentle. i am home, i am home, i am home

welcome back to "street signs. it's been uneventful in terms of market action. the stoxx 600 is up slightly if we look at the individual markets behind that number, the major four indices here, a bit of a mixed bag the ftse 100 is in positive

territory. the xetra dax is down around a third of a percent the cac 40 is trading around the flat line. in italy another disappointing day for italian equities, down nearly a half of a percent in terms of sectors, quite interesting to note, pretty mixed. household goods up 1%. healthcare performing relatively strongly as is the media sector, up three quarters of a percent autos down more than 2% across the european continent on the back of that profit warning involving daimler and u.s. trade tariffs. dixons carphone reported a 20% slump in annual profit the mobile phone retailer blamed tough market conditions and challenges in the uk mobile phone business you can see shares are up so far this morning

up 2%. it's been a disastrous 12 months for the company. cnbc was told last week that the xon's breach was troubling and the government in the uk would force phones to improve data storage practices. >> the national sign center already engaged in this. it's potentially very serious. we're working to get to the bottom of it we have the new data protection act which came into force last month which brings in higher fines. we have to make sure people are protected and properly informed about what's happening with their data the thing i'm confident of with that new act, we have this system in place with the national cybersecurity center leading the incident response. of course the information

commissioner as the data regulator. that system is working exactly as it should >> we have this opec meeting in vienna where the saudi energy minister said consumers are asking for more oil supplies and opec will have to come to a decision that satisfies all stakeholders the energy ministers are discussi possible oil supply increases. steve sedgwick is in vienna where he has been chasing down oil ministers from around the world existing impressive levels of fitness >> i don't know about that let's see if i make it out of vienna let me get through a whole host of tape now. it gives a much better view of what's going on. 48 hours ago, as you know, we were talking to the iranians they were aggressive they had a lot to say. they got it off their chest. it looks like they're coming into the fold. they had a couple of important

bilaterals with some key players, including the russians, who were trying to get them on board. got a quick word from a couple of ministers the opec president, who barely had a word to say to me 24 hours ago, let's listen in to see what he had to say. i think he sounds more optimistic >> i'm confident that this group will always do the right thing >> toll picpolitics will be lefe door >> this is not a political organition this is a commercial organization as i told you earlier are not going to politicize the organization politics aside, we will make good progress, like we do always and everyone is happy that we are together >> iran more on your side in the

last 24 hours? >> you have to wait until we meet >> you see compromise? a chance for compromise? >> don't put words into my mouth. you have to wait until we meet >> you may not think you got a lot from that, but he would not comment at all 24 hours ago. so i think they feel more confident that something is going on his answer to my question, don't put words in my mouth, he said, about whether iran is on board another key player who may be seen as a holdout is iraq. the minister, let's listen to him. i just caught him just now >> i'm confident we will reach some sort of agreement >> iran and iraq and venezuela are on board with production hikes? >> we will discuss them. >> we will see again, you heard from two i'm ministers, and we also spoke to other including the

secretary-general. it's not just about the opec members, we have the boss of total. in an exclusive major network interview yesterday, i had a good conversation with him he made some interesting points. listen in, especially if you're an oil trader, this man has billions of dollars of capex to spend, and he doesn't know whether it's going to be 50 bucks or 100 bucks, but also making the point that a small amount of change has large ramifications in the market. i think this is fascinating. >> you cannot keep the politics out of oil and gas this is our job, but it's not only a supply and demand exercise opec does not decide the price it's not true. opec is just an organization which can control one part of the market, not all the market it represents 30% of the market. with 24 countries, 50%

but they do not decide the price. it's not true. if they try to make figures, supply demand, in the end the market takes over. the market anticipates what is the situation of the world economy. will the world economy be lower because of trade wars? this is very important what is the impact of the relationship with russia, sanctions. if one country puts sanctions on, you have an impact i think they try to say it's not political. everyone knows you have some politics the middle east, consumer countries. the large three oil producers are the u.s., russia, saudi arabia don't you think you have politics there >> of course you got yourself involved in iran i don't think you spent anywhere near the money you thought you were going to spend. i think it was $40 million so far. you seem pragmatic about it. you want to get in, but because

of sanctions you don't feel you can stay there or develop those assets >> y i haes, i have tobe pragma. i have no choice we have been clear with that we went into iran because of secondary sanctions by the u.s there's not a single x international company like totalal that can work with secondary sanctions. i know this does not please some european leaders, but at the end of the day you have to face reality. is it right that in this world the u.s. are imposing some rules on other countries that's a debate. that's not the debate of a ceo of total i'm not head of state. i would tell you the truth if it

would happen again, i would do it again it's up to us to take the chance if the market is closed, we have to give up i cannot afford to expose total to secondary sanctions i could not have access to any u.s. financing, it's impossible to run an international company like total without having access to u.s. financing. that's the reality of the world. we have to take that into account. >> things are moving quickly here i grabbed a couple words with the saudi oil minister i said sir -- i asked literally ten seconds ago, sir, are you confident of a deal? he said yes, i'm con ifconfiden. i said do you have the iranians on board he said we will see. i also grabbed dan yurgen.

i'm sorry i just grabbed you what do you think is going on here at opec >> i think they're moving towards a new arrangement that reflects the changes in the market we will see an adjustment. it's highly likely >> people are talking about opec 2.0, where there is a nucleus around thees of the russians and around the likes of the saudis rather than the old rivalries. would you agree opec is changing >> opec and opec plus or what we call the vienna alliance it is a different arrangement. the involvement of russia in particular as well as other non-opec is significant. so russia is very much part of the ongoing dialogue >> can they continue to control the price? >> i think that they're focused on inventory levels and stability of the market. so i don't think they are seeking a price. but i think rather it's a level they're trying to do i think at least discussions -- people are concerned about

sufficient investment for the next three, four years that's the question that hangs over this whole discussion >> two more quick questions. are they listening to stomers? which customers? india and china or mr. trump and his tweets >> there's no question they're listening to their customers and they're listening to the united states. listening to india listening to china even russia, where there's consumer pressure. this is feeding into it. i think the voice of the consumer is being heard here >> if all the risks out there, of all the risks you have identified venezuela it's coming true on a daily basis. is venezuela's oil industry going to implode further >> our view is that it's going to continue to go down just to give you numbers, 2.5 million barrels a day in 2015. 1.4 million barrels a day. by the end of next year if not sooner, 800,000 barrels a day.

there's a focus on what opec, non-opec does, but the geopolitical risk is concentrated on venezuela, to a lesser degree on libya, and uncertainties about the application and timing of sanctions on iran. >> you are a star for letting me grab you always a pleasure. i know you have an important panel coming up. >> i'm doing it right now. >> thanks. we have spoken to the opec president, had a quick word with his excellently, i'm finished. back to you. >> looks like you need a cup of coffee, i know you're not much of a drinker it does seem like there's an agreement coming together here the markets seem to be reacting, both brent and wti are falling at what point would you expect there to be an agreement publicized will it be tomorrow afternoon?

>> okay. let me go through this with everyone today it's about the seminar yesterday was the seminar. we had the arrivals the previous days feels like i've been here four months, but it's only 2 1/2 days tomorrow is the opec meeting the one with the opec class, with the russians is on saturday i think we will not have to wait for saturday they don't want the markets to fester over decisions. i think there will be a decision tomorrow p.m there you go >> steve, appreciate it. thank you very much for your hard work. as opec members consider an output increase, analysts say there are concerns over how much iranian crude will be taken off the global market due to u.s. sanctions. one country that does not have a representative at that meeting that steve is attending may end up having the biggest say. head to cnbc.com for more on that mystery country coming up, msci agreed to include saudi arabia in its emerging market index. later today we will speak with

the saudi market authority chairman

welcome back to "street signs. i'm waillem marx shares in daimler skid at the hope as it warns tariffs will impact full-year earnings that warning drives down the entire sector with autos the big underperformer as equities generally trade higher. hopes for an output deal with ope increase as cnbc is told the cartel will not be swayed by politics >> this is not a political organization this is a commercial organization as i told you earlier, we are not going to politicize the organization saudi arabia's market chiefs cheer the country's entry into the emerging market index saying it will attract $40 billion of inflows and increase the attractiveness of the saudi aramco ipo

we will speak to the market regulator in riyadh later today. let's look at european markets and how they're trading. it looks like the ftse 100 is the only major index left in the green. up around 0.30%. the dax is down about 0.30 the cac 40 is slightly below the flat line. and the ftse mib is down nearly 0.7 0.75% on the day turning to cable, the pound trading pretty weak against the u.s. dollar. the euro also weaker against the dollar this is a story of u.s. dollar strength 11-month high over the course of the evening.

slightly up against the swiss dollar in terms of the u.s. futures market ahead of the open, all three major indices are called slightly higher. the nasdaq looks to have a bit of a boost aheadf e ing open, up 20 points in terms of global markets, one of the b stories of the broad-based ishares for saudi arabia are trading up. this move could help receive more international investment. the inclusions will take effect in mid 2019 hadley gamble joins us from the saudi stock exchange what does this mean from a reputational and practical perspective? >> it's a big deal for saudi arabia this is the region's biggest economy. this is the second best

performing stock market in the world. this is all about investor confidence it's about bringing in all of that international investment into saudi arabia ahead of this aramco ipo and about galvanizing the private sector inside the country to reinvest in the markets and private investments. we had the chance to speak to him first on cnbc. if we take the announcement last night, the saudi equity market represents 2.6% of the msci. out of the 1.9 billion, that's around 45 billion u.s. dollars so this is the weight of the saudi market out of the measured market in msci that pool has both active and passive investors. we anticipate passive investors to be around 25%, 30%.

the guaranteed inflows of cash will be around -- we forecast it to be around 10 billion u.s. dollars. the remaining is the active side active investors come usually before, during and after inclusion. and not necessarily following the plans of the inclusion so out of that, this is the size of the saudi market represented in emerging market guaranteed inflow of passive fund of 10 billion and will work hard with the active investors to attract the remaining investments or weight. >> in terms of what's happened the last couple of years in saudi arabia, this msci is towards the fast tract of getting this saudi aramco ipo. your thoughts on what happens next there in terms of the timeline you're saying this is about getting ready for that ipo what kind of valuation can we expect >> as we always say, the

inclusion itself is not correlated to a particular listing. if we take aramco -- however, aramco helps attract extra eyes to the saudi market. the reforms have attracted investors. it will add to the capacity of the saudi capital markets. you know, in the last three months, last might msci, ftse, and by the end of this year s&p as well. all of these will add capacity we hope our efforts to increase the ipos, including the aramco ipo. the valuation on the information will be released by the ninl ed

a -- financial advisers. >> the big question going forward is whether or not this msci emerging market inclusion is the signal that international investors have been able to move beyond, the speculation beyond surrounding the saudi market and saudi arabia in general after that riyadh/ritz-carlton incident last year and whether that can vgalvanize some to get back into the market. the united states said it will exempt certain products from the tariffs it imposed on steel imports. the announcement includes some japanese products that proved difficult to source from other countries. makiko utsuda is live from tokyo for us this morning. good morning >> hello the announcement on wednesday was the first time the united states had taken such action since march when it slapped a

25% tariff on imported steel products the exemption applied to a request from seven u.s. based companies importing products from japan and china the u.s. branches of japanese manufacturers of cutting tools and auto components have been approved to use special steel imports from japan while there were 50 requests turned down, more are being processed and exemptions will be announced as they are processed. there may be more luck in seeking exemptions for individual high performing items that are hard to replace at the tokyo stock market today investors were quick to snap up a japanese firm that won an exemption which saw it's stock

soar today iraq's oil minister says he will try to compromise between those who want to raise production and those who want no change the price of oil has dropped after iran signaled it may be willing to find a deal on a slight raise for output levels. is going back to bed, has not done that. he's still chasing down oil ministers. what can you tell us >> it's about the base level as well this is an important point when we get that announcement probably tomorrow afternoon and they're looking at the oil price they need to know whether there's smoke and mirrors, opacity and whether saudi still has control on the oil market. they gripped back control for opec and non-opec when they got russia on board. basically they took 1.8 million barrels off the table. the problem is it's become more than 1.8 million because of places like venezuela, libya and

nigeria. all found problems with production out there as well can they wrest back control? what is the base level from a rise in production that's what we'll talk about tomorrow i caught a word with a few ministers, and a couple of quick words with the man himself, khalid al falah, the architect of the deal. >> are you more optimistic of a deal >> yes, i'm optimistic >> is iran on board, sir >> we'll find out. >> is iran on board, we'll find out. he's also making comments now that we're hearing in the auditorium behind me saying pretty much the oil market has been rebalanced. let me tell you what that means.

inventories were way above, 400 million, 500 million barrels above the five-year average. they wanted that to come down. that's why they have taken oil out of the market, now the comments from khalid al falih saying oil markets have been rebalanced getting the deal was tough keeping people on board also tough. the real tough task is the exit strategy is there going to be a free-for-all, will they keep control of the oil market, that's the big question. back to you. >> thank you very much for that. if you want to get in touch, feel free to do so on twitte twitter, @streetsignscnbc and tweet us directly. coming up, sterling hits new lows ahead of the bank of england rate decision later today. mr. on that after the break. - i love my grandma. - anncr: as you grow older, your brain naturally begins to change which may cause trouble with recall.

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the chief executive of the volkswagen truck and bus says the company is about to ipo a

quarter of the firm next summer. he says business ipo could rre . doesn't seem to have done much for the share price. currently down 2%. the last 12 months has performed relatively well. the swiss national bank warned the exchange rate situation remains fragile and decided to keep its ultra easy monetary policies in place the swiss franc remains highly valued in the aftermath of the political crisis in italy. the central bank reiterated keeping rates in negative territory. later this morning, joumanna bercetche will be speaking to thomas jordan. on the agenda will be the monetary policy assessment and the annual financial stability report. sterling has fallen to a seven-month low against the dollar ahead of the bank of

england monetary decision later today. last month boe governor mark carney said the monetary policy committee will need more time to gauge the strength of the economy after a mixed set of first quarter data joined by daniel vanatta from unicredit. thanks for being with us what do you expect from the vote today? >> i think the vote will be 7-2 for the bank to remain on hold with the rate. the event should largely be a flaun-eve non-event today. most members of the committee are looking ahead to the august round where there will be the inflation report, a new set of forecasts, and more data by that point. data recently has been mixed not all of the data was temporary, and there are signs

that there is further weakness in the economy most members will want to wait for more data. >> let's dig into this data. we talk about a temporary soft patch in the early part of this year you're questioning whether it ends up being temporary or more sustained. what about the data you've seen indicates it could be more than temporary? >> we've seen the pmis of business surveys rebound a bit ading indicators are not muchthe improved >> industrial production you mean >> no, the manufacturing pmi, new orders for inventories ratio, that's fallen further and suggests headline manufacturing output index will decline further. expectations are not strong across the services, construction and manufacturing sectors. manufacturing has been a strong point, but there's signs that that's weakening

the phillip from the past depreciation of sterling is waning and there's slower global growth it looks like the global growth peaked at the turn of the year, and that was driving the uk economy along, offsetting brexit headwinds. that is starting to wane that impetus from global growth >> do you think there are brexit headwinds to worry about or is that a thing of the past >> certainlyse headwinds are still there. nothing is agreed until everything is agreed whilst we expect a deal, we don't expect it until the last minute, going into march 2019. even beyond that that uncertainty will continue. we think it will take many years before there's an agreement on a free trade agreement so probably the uk will need a transition that goes beyond 2020 >> given the mixed nature of the data we've seen in the uk, do

you think it makes it difficult for members to make up their minds? >> i think so. they just want to wait for more data there's a lot of uncertainty >> that's one of the challenges. >> i think given the weakness in the first quarter, there is no need to go now there's no need to take an unnecessary risk there's a lot of uncertainty in the uk economy and uncertainty about how the economy functions. for members they want to err on the side of caution. there is a chance that -- or possibility that there is further underlying weakness especially as the brexit cliff edge comes into sharper focus. i think there's very good reasons for waiting at this point. in a few months it won't make a big difference >> mark carney seemed to indication early may there was the possibility of a rate hike

by the end of this year. that's a case.on't seem to think kind of outliers >> yeah. our reason is we think the inflationary pressure is subdued. we've seen weaker wage growth the last few months. we don't see inflation staying where it is. we see it coming down despite higher oil prices. that's mainly because the past depreciation of sterling is waning sharply demand is not particularly strong in the uk economy the savings rate is low. employment has done very well, but that also means that the scope for further forward in the unemployment rate is much produced the potential growth to outperform is pretty low >> diminishing rapidly, it

sounds like. thank you very much. he was talking there about brexit uk prime minister theresa may secured approval for the government's eu withdrawal bill. that clears the way for this key piece of brexit related information to become law. in the house of commons the vote was 319-303 to approve the government's version of the bill senior ministers offered concessions over a meaningful vote on the final brexit deal. that was the main bone of contention in the legislation. six conservative mps still voted against their own party and government the house of lords went on to approve the bill without a vote. david davis yesterday clashed repeatedly with his opposite number over whether or not parliament should be given a meaningful vote over the final brexit deal between the uk and the eu >> athere are plenty of voices o the european side who seek to punish us and do us arm.

wish to have a bad deal. some to dissuade others from following us, and others trying to make us lose our nerve and rejoin the european union. if it undermines the uk's ability to walk away this amendment makes this outcome more likely. >> it is simply about this house playing a meaningful role in the terms of the final brexit deal it's about making sure that on the most important peacetime issue this house has faced for a generation, this house is not silenced a tough result for spain who endured a tough night in the world cup. scraping past a courageous iranian team that came close to upsetting the 2010 champions

a deflected diego costa goal gave them the crucial win. in group "b," cristiano ronaldo scored the only goal as portugal made hard work of morocco. spain game what did you think? >> the spain game, they ground them down. they ground them down. i -- you could always say the first half, iran would try to keep it slow there was a lot of play acting going on keepers going down under challenges that were not necessarily challenging. diego costa, a deflected goal went in. iran thought they had an equalizer, but the goal was disallowed for offside >> this is gutting you can see them celebrating >> there was a roar in the stadium. there were so many iranians in the stadium. there were many female supporters of iran in there, which is quite amazing, because it's illegal for women to attend soccer matches in iran that was great to see. they still have a chance

they go into the last match against spain. there was one man that stole the headlines yesterday, cristiano ronaldo. we come to expect this of him. he followed up his hat-trick against spain with another one >> four goals. >> nearly took four minutes do it in this game against morocco. diving header. scores so many goals with his head just an indication of how important ronaldo is to this portugal side, they had eight shots in the whole game, six of them came from ronaldo they just give him the ball. wasn't a vintage perform plans by the team, but they have taken a big step to the last 16. >> he is up there with that russian as the top scorer. >> he's passed cheryshev cheryshev had three, diego costa has three. one man has four goals only three world cup goals coming into the game, but now out ahead.

own goals, five in the tournament, so he's not surpassing everyone, but putting up a good show >> tough to compete with >> absolutely. >> what about this group "d" table. >> group "d" back in action today. there was a surprising result in the first round of matches here. argentina held by iceland. they sit second place at the moment ey have a very, very tough looking game today croatia had -- were in turmoil of their own coming into the tournament with financial ramifications among their football federation. they pulled it together. they top the group argentina, their manager has said every time that argentina don't win, they shouldn't put everything -- the entire burden on lionel messi. he missed a penalty, suddenly it's all his fault they win together and lose together so he's trying to take some of that pressure off messi. >> a great piece out today

saying if you put too much around messi you are ignoring the fact you have an entire team of world class players >> there are some amazing forwards the star for juventus can't even get on the pitch, heeg 's behin huguian. >> as our sports reporter, i know you're a keen runner. you have ever dislocated a shoulder on a jog? >> i haven't maybe that means i haven't done it right we're a week into the tournament there's an injury crisis in the england camp it's not one of the players, but gareth southgate, the manager. he was out running on a day off. this is what happened. he's in a sling. he's seeing the funny side of it after being seen against tunisia punching the air in sell break,

england's winner, he promised the doctor he will not be punching the air >> appreciate the update on the world cup. enjoy watching the games this afternoon. i'm sure you will. let's look quickly at u.s. futures ahead of the market open you can see the nasdaq still looking to open very, very slightly higher. both the dow jones and the s&p 500 looking for a bit of a soft hope the dow jones called down more than 45 points that is it for our show here in london today i'm willem marx. thanks for joining us. "worldwide exchange" is coming up next.

i'm seema mody he's your five at 5:00 starting with the record rally the nasdaq rally continues we're expected to open at a new all-time high. it's thursday, june 21st, we're awaiting that opec deal, that announcement expected to come on friday emerging market status argentina and saudi arabia getting that msci status and a profit warning coming from daimler on those u.s./china trade tensions more on that plus travel alert. more peopl