annmarie: that's right.an expect those stocks to move higher given crude prices opened $12 higher, up more than 10% on brent, the biggest move we've seen on record for oil prices. that's going to benefit oil stocks this morning. on the downside, we could see airlines. higher fuel prices will be tough, so you can see them drop 3%-5%. anna: we will keep an eye on them. sam, what is the latest on this battle? sam: the german lighting company recommended a takeover from the maker over bain and carlisle. the question is whether this spells the end of this many takeover side, or whether this will mean the private equity side will come with another bid. we'll see. anna: and the latest on the luxury sector, some exposure to the wto ruling between the u.s. and europe, it's about airbus. but this isn't just going to hit airbus. dani: it's gotten the green light to oppose more tariffs. airbus is down more than 2%, but trump is likely the target the luxury good makers in europe. you can look for lvmh richemont. also, th

annmarie: -- annmarie hordern is standing by. annmarie: good morning. msc i asia-pacific down.le they seem to be expectations -- beat expectations, still below 50. 1.7.en trading at we could see it rallying, given geopolitical risks. analysts are about 1.05, the pound study at 1.22 as manchester now plays the main epicenter for fx traders, not lender this morning. pvr for futures, ftse 100 unchanged, text features to the upside, and tech on futures softer. you can see is relatively flat across european futures. mixed session across asia. it's now 8:00 in the city of london. we do have your market opening up this morning. ftse 100 opening up flat, but a little bit to the downside. as i was saying, manchester takes center stage, especially with fx traders, as we have the tory party conference having their meeting. anna edwards on the ground. she says the banners say get brexit done. boris johnson's speech is critical this week. euro stoxx 50 relatively flat. softer swiss franc, a little bit softer u.s. dollar. netherlands to the downside, 2/10 of a percent. france's open flat. we

annmarie hordern focusing on tesco.'s kick it off with you. >> there is news out this morning that lloyd's is a snapping up tesco's mortgage port folio. acquirens the bank will 23,000 mortgage customers. tesco can move slightly to the upside when the market opens. matt: thanks very much. joe from our equities team looking at m&s. could be out of the ftse 100. >> that is right, for the first time in 35 years. they will join the struggling software company and also the home insurer on being demoted, according to ftse, which announced results yesterday. this comes with shares down 20% this year following that joint venture they announced earlier in the year. results will be confirmed after the market closes. downside.ee some what is the story with ferguson? i saw a red headline flashed across my terminal this morning. >> got to love those. tore u.k. operation is going be independently listed. the ideas ferguson can focus on north american operations. also management changes coming with it. shares called higher by about 3%.

anna: annmarie hordern with your movers.allies meet in abu dhabi, but there is growing concern about fuel demand is the global economy slows. let's go live to manus cranny in abu dhabi. he has been following the twists and turns. what is the latest? >> it has become an awful lot more cordial. there is one metal detector the 500 journalists went through and then we did not get any access, so i think they have implemented a new regime. the question is, what will the new position be? the russian minister suggested that our goal here in oregon is not to suggest new cuts. dhabi ised -- in abu not to suggest new cuts. they wanted iraq on board and to comply more. the russians have only complied for three months of this year. so it is unsure if they want this collegiate see that -- this compliance. delivers, you got to that yourself. where we are,at brent prices are around $61. terms ofwe expect in the saudi-russia oil alliance? change?xpect any >> certainly, the language they are using is steady as we go. it is all about complianc

for that we go to annmarie hordern. annmarie: let's stop -- start with the asia-pacific.ariffs kick in, as well as manufacturing data weakening. the csi 300 actually higher. authorities saying they are going to provide ample liquidity. also look at the pmi index. that showed -- -- trade war excavation escalation underlying fears of growth. 61 ony as she goes, 121. the handle. ftse 100 is to the upside, 3/10 of a percent. the dax relatively unchanged. cac 40 in the red. mixed futures ahead of the european open. he are in the red and equity markets are shut for labor day. 8:00 in london. we have the markets opening up. ftse 100 opening to the upside. it's going to be a big week for the u.k., determine the fate of boris johnson and brexit itself. euro stoxx 50 relatively unchanged this morning, a little bit to the downside. the foreign-exchange, stronger bloomberg dollar index, straight -- slightly stronger pound. the ibex opening up relatively flat, as well as tech run. the ftse up 2/10 of a percent. we could see more impact tomorrow in the markets when u.s. comes back onli

annmarie: they are still quite fashionable on the slopes.see when you go skiing in austria this winter. matt: thank you very much. maybe we will hit the slopes together. annmarie hordern with a wrapup of all of the stocks that have been affected by the hong kong news. really affecting markets and asset prices around the world. we will continue to cover everything out of hong kong and the risk on sentiment. this is bloomberg. ♪ anna: welcome back to the european open. astrong session in europe the number of corporate's are exposed to hong kong move higher. that's on these reports that the chief executive of hong kong plans to withdraw a controversial extradition bill. these reports are coming from the south china morning post. it would satisfy one of the major demands of the democracy protesters who have demonstrated against the government for almost three primarily and initially around this bill. joining us from hong kong, stephen engle. juliette saly is also with us. let's come to you first. you have been following the story for a long time

annmarie hordern as those 40. annmarie: -- has those for you. annmarie: good morning.vidual names, the biggest gainers on the stoxx 600, including the bank of ireland, the commerzbank, after the ecb unleashed fresh stimulus, rose to the upside. they had a lot of new trials out this morning, one including with multiple sclerosis. that data came out and they were updated at bank of america, merrill lynch. and imi one of the biggest losers on the stoxx 600. they seem risk to earnings in the short-term, even though there's optimism around management changes. anna: thank you very much. up next, the great rotation. money continues to move. we talk about it briefly. we get more thoughts. is this a fundamental shift or short-term reaction? thoughts with our guest in london. this is bloomberg. ♪ anna: welcome back to the european open, 20 minutes into the trading session, stoxx 600 weaker. the bigger markets moving very continentalards, ones anyway. london markets down. out of equities having their moment in the sun. she value sox -- stocks have their best run since 2002 amid a

let's look at markets, with annmarie hordern standing by in london.rie: let's kick it off with the csi 300, off highs from the session but nearly up 0.3%. the governor said the economy is in a decent shape, but not in a rush for stimulus. we are waiting for a u.k. supreme court decision on boris johnson's prorogation. we'll wait and see. iron ore down 2%. hard for iron ore these days to stay above $90 a ton, although the china-u.s. steel scraps fell to the lowest in 20 years. futures are trading ahead of the .5%. stoxx 50 up a bit of risk-on in the market open. just off 8:00 in the city of london, and let's look at where we are trading tuesday morning, after a risk off day yesterday. ftse 100 opening in the green, up over .1%. ibex up 0.2%. stoxx 50 opening in the green, a risk-on morning. potentially with optimism around a trade deal. we had steven mnuchin saying the chinese vice premier will come to washington in the coming weeks. amongst that, a backdrop of weak european pmi data, dismal yesterday in germany. we have the ifo, which will be monitore

we go to annmarie hordern in london. annmarie: good morning. equities kicked off the week to the downside, msci asia-pacific down under 1/10 of a percent. csi 300 dropped more than 1% this morning. s&p futures in the u.s. are higher this morning. trade is back and focus. richard jones says the bar is high for an agreement. it will be difficult to get a powerful rally in equities. on the british pound, trading around one spot against the u.s. dollar. this is as the labour party kicks off their conference in brighton. brent crude up about 1%. here's how futures are ahead of the open. a bit of a mixed fixture -- picture. euro stoxx 50 lower, and keck futures lower in france, down nearly 2/10 of a percent. it's now gone just 8:00 in the city of london. let's look at how the markets are opening monday morning. ftse 100 opening up flat, but a bit of an eke to the greenside. we see in foreign exchange the british pound and they are at the labour party conference. we have the euro stock 60 opening to the downside and spain's ibex opening to the downsid

let's get individual stock stories with annmarie hordern. rbs, the british bank up more than 1% as it names a new ceo, alison rose, to lead the bank. she's the first female to lead a top u.k. lender. british american tobacco, down more than 1% as dutch tax office is seeking about one billion euros according to a local dutch newspaper, and rolls-royce also down today, nearly 3.5% as they see problems with their trent 1000 aircraft engine and that will delay the return to normal operations of the engine to the second quarter of 2020. matt: thanks for that, annmarie hordern with some of your individual movers in london. china's cautious contribution to the global easing cycle hasn't enough for the analysts. they are calling for stronger easing signals from beijing after a new gauge of borrowing costs was only slightly lowered. when your reference rate for bank loans was set at 4.2% for september versus 4.25% in august. curran,g kong is enda chief asia economics correspondent. not terribly concerned about slowing growth? what are they trying to

we go to annmarie hordern in london. annmarie: good morning. a look at total this morning down more than 1%. a lot of the oil majors are getting hit. u.s.,dustry report in the signals that aramco is restoring capacity after the attack on their facilities. the biggest gain around one point, but it is up 0.5%. they say they are on track for next year for their financial results. than 4.5% this morning after they announced they are raising the cost, the estimated cost for the nuclear reactors they are in the u.k. they are raising it by as much as 2.9 billion pounds, and that is really driving the price today. matt: all right, thanks very much. keeping our eye on those individual movers. coming up, we have the biggest names in business and government gathering at the annual bloomberg global business forum in new york. we have the top bank executives like jamie dimon, david solomon, michael corbat all coming up live here in bloomberg. ♪ welcome back to "bloomberg markets." this is the european open. we are 20 minutes into the trading day. you can se

annmarie hordern have the latest. tomarie: that is right here 5% of global supply, 5.7 million barrels a day, but half of the kingdom's net exports. the biggest infrastructure that d was theke facility that is the heart of the saudi oil production and the heart of the exports. most saudi oil goes through this is silly, and that is what you see prices jump today. biggest intraday we are seeing on brent this morning, and it is moving equities as well. oil and gas stocks are higher in europe and likely to be higher in the u.s. the big question now, alix, is when we will see saudi return to full capacity. the big question for the market and the kingdom's customers around the world is -- when will we be at full capacity? alix: and when will we see a strategic release of stockpiles? here is what the head of opec had to say. >> this issue will be a of not onlyecision the opec realm but the opec plus. moment toature at the begin to contemplate on what will be done in terms of volume and when. alix: anne-marie, much more sangu

annmarie hordern has been. annmarie: we see oil and gas stocks rise, equinor up more than 1%. gas discovery the norwegian sea and another project coming in ahead of time and under budget. husqvarna is down 6%, out with new growth target that are weighing on shares. ocado with a bit of again as sales grew 11%. anna: next, another round of whatever it takes. mlivll speak with strategist richard jones about why he thinks there will be downward pressure on bond yields. we will talk the legacy of mario draghi, i suppose, if it is not too early for that conversation as he gets ready to hand it over to christine lagarde. this is bloomberg. ♪ anna: welcome back to the european open, 54 minutes into your trading day. this is the look across equity markets. after the session in asia where we were down .4% if you include like -- we were down more .7% without japan. despite more positive headlines from president trump around the trade story with japan, at least. despite that, the market focused on geopolitical tensions between the u.s. and iran. in asia -- in europe, we don't see much neg

annmarie hordern has a rundown for you.st, arcelormittal up 2% looking at potential sales of key assets in canada and brazil. the canadian one could be worth $2 billion. looking to divest. norsk hydro to the upside. they were out with news that a brazilian court has lifted an embargo that brings an end to 19 months of production curves on its key plant. this is the largest aluminum plant in the world. we know that is in everything from airplanes to beer cans. ado in germany is up 3%. they announced a real estate sale selling a portfolio at good prices. this comes after all of the talk of rent freezes. this is quite positive. matt: get out while the getting is good. thanks, it -- thanks. let's talk about another major ipo to flop. 11% oneloton, felling it's first day. that prompted endeavor to postpone its listing before it went public, and of course we have all heard way too much about we work cutting costs after its ipo disaster. joining us is our deals reporter. why are so many ipos underperforming? >> well said. choppy m

anda: divina, in mumbai annmarie hordern.ernational retail has faced a tough climate amid a week yuan and the ongoing trade dispute. tiffany, falling sales from chinese tourists in america is pushing the company to open more stores in china to attract local demand. can further fallout from the trade tensions, tiffany's ceo told bloomberg the company will absorb tariffs rather than raise prices. >> i think the main driver has been currency fluctuations it comes with a strong u.s. dollar has affected and hong kong, etc. that is an influence on chinese tourists to buy abroad. salese seen increase of strength in mainland china where we have seen several quarters of double-digit growth and in the last quarter, we grew over 25%. side toute this on one the petri nation of chinese consumption in mainland china, but also on the actions we have done it tiffany. in terms of marketing, communication, and i think it is the combination of these two that make -- effects us proud. >> tiffany's jeweler is exported from the u.s. into china has

nejra: annmarie hordern, thank you.massive pelosi announced impeachment proceedings against president trump, as he puts on pressure on the government of ukraine to put pressure on joe biden. speaker below see: discernible -- losi: discernible betrayal of our constitution, our security, and our constitution. therefore, i am asking the house of representatives to move forward with an official impeachment inquiry. thea: these actions raise possibility that trump could become the fourth president in american history to face impeachment proceedings. trump denies wrongdoing and says he will release transcripts of his phone call with ukrainian leader today. us as kathleen hunter. great to have you with us. what should we look for in the transcript of the july 25 call, when it is released? there has been a back and forth between issues with joe biden and pressuring the ukrainian president into launching an investigation into a business deal that his son, hunter biden, conducted in the ukraine. i think when the transcript comes

here's annmarie. annmarie: let's kick it off with ferguson, a plumbingmaker in the u.k.g off their u.k. business and will focus on the u.s. where they get the bulk of their revenue and announced a new c.e.o. kevin murphy, running the u.s. division will step into that role. down 2.2%. first half earnings missed estimate and had a loss of 92,000 subscribers where analysts thought the number would come in around 54. goldman sachs needs to increase the generation of cash flow. r.b.c. lowering the price targets for swatch and says they are exposed to the protests in hong kong as opposed to other soft luxuries. francine: thank you so much with some of your main stock movers. now straight to the bloomberg first word news in london with sebastian. sebastian: starting with the bloomberg scoop, china and the u.s. are struggling to agree on the schedule for trade talks fter washington did to the take in the request for the weekend. not necessarily a sign the talks won't happen. >> it is a concern that there seems to be an impasse that has worsened the course in terms of the escalat

annmarie hordern focused around the logistics sector and deutsche post. government kingfish -- covering kingfish. deutsche post on the other logistics names, it's all about fedex i guess. >> it's all about fedex. slashing their profit outlook. keep an eye on deutsche post, royal mail. ceo fred smith pointing his fingers right at the trade war's. matt: paul, let's get to you on kingfish. what have you got? paul: good morning, matt. their first half results, these numbers at first glance look at disappointing. 6% profit. that is slightly better than analysts are expecting. if you drill into the numbers, the u.k. business performing slightly better than expected. declining sales less than 1%. the french business still struggling quite badly. that has been the story for kingfisher. that french business has been difficult for a long time. they have a new ceo coming in next week. anna: mixed over at kingfisher. in the car sector, more gloomy data. >> gloomy data coming in. august sales were down a lot. last year's august sales were up a lot. the comparison was

annmarie: president trump's america first vision was on display at the u.n., boasting about u.s., complaining about his adversaries and warning about uncontrolled migration. one of his biggest complaints was directed at iran and the country's "bloodlust." >> no government should subsidize iran's bloodlust. as long as iran's menacing behavior continues, sanctions will not be lifted. they will be tightened. trump did offer iran and olive branch saying he is open to talks with iranian leaders, who the u.s. has never believed permanent enemies. the world is waiting to see how the iranian president response. we get a glimpse. we spoke to fox news last night. we bump into one another? pursue higher goals to benefit both countries, both people, it must be planned and talks must be based on those plans but prior to that, we must create mutual trust. the trust is something mr. trump took away from this framework. we had an agreement. mr. trump executive it -- exited it without validation. president macron to try to play a mediator role. he met with both leaders and used his time at the po

nejra: thanks to annmarie hordern.you're traveling to work, tune into blue bird radio on your mobile device or dab digital radio in the london area. this is bloomberg. matt: it is 8:20 on the continent. 7:20 in the u.k.. we are 39 minutes from the start of cash trading across europe. this is "bloomberg daybreak: europe i am matt miller in berlin. nejra: let's get a check on the markets. quite a bit of green on the screen. pboc saying china is not in a rush to ease policy massively. nonetheless, some risk on. the 10 year yield down two basis points to a 170 handle, seeing concern around global growth. painful pmi in europe yesterday. we steady up today at -58. let's take a look. you can see we are likely to get a more positive open in the u.s.. 13435.nd trading at it will be interesting to see if there is any reverberation from the decision we get at 7:30. surely some movement. how much volatility are we going to get? bit, coming down a little as germany, france, and the u.k. get together and explicitly blame iran for t

annmarie hordern, good to see you this morning.ckle down to india this morning what is going on with the fed? >> a good day to you. we are looking at consolidation. especially after the weakness we saw yesterday, for now, there's a bit of a break after yesterday. as far as brother markets are concerned, we are looking at small amount of gains from the banking index, but a lot of this governing ofe short positions made yesterday. the indian rupee is stable at around 71.8 or 71.9 mark. we have seen the weakness against the dollar last year, or the big move we saw in crude oil. a lot of analysts are of the opinion that we will have to watch and wait before we see any stability in the rupee. so for now, the markets are quiet. , justarie, what agam said about markets being quiet, look like we are in a holding pattern because of the fence. all aboutyes, it is the fed today, they are set to cut by 25 basis points, and that will be the key driver of the markets as we move away from the weakness in the global oil supply. it is a mixed pictu

annmarie hordern will be chasing oil ministers.nd we find data today, the official selling prices by the saudi's to the world. those are your markets. let's discuss the u.s. and the story there because this is the latest. there's no current plans to stop chinese companies listing on american companies. it's in a response to a bloomberg report that the ministration is looking -- the administration is looking at ways to limit flows to china. let's bring in our senior international editor jodi schneider. good to see you this morning. can i ask you, because there's a detail here, what specifically is the u.s. denying? jodi: yes, you're right, manus, it's a partial and qualified denial of our report that bloomberg broke last week before the weekend. basically, what the u.s. is saying, a spokeswoman is saying the u.s. has no plans to block chinese companies on listing on u.s. exchanges at this time. so saying right now, we haven't decided. and also, they are not talking about, the did not in that denial, say that other things were off th

paid a visit to the nigerian institute for oceanography annmarie results in the why he spoke to dr rice in a following that is to collect data and mix recommendations to the government on how best to protect the sea or off the coast coursed doctor for those so had some interesting things to say take a listen to. the. doctor for those thank you so much for speaking with us on the coffee cup now we've just heard of we. always think about those you walk with junkies tolson we got them i said can you tell us what exactly is the state of the ocean. around the world. become now called for the oceans. ocean of plastic. when you take a seat cruise of the national environment for example a fisherman you will catch tons of plastic and very little fish the fish gets in bed because the i'm just saying plastics and they have a stomach full of plastic these a situation like that margie i mean don't do the clean up good you know the pollute less should pay they should encourage people to come out clean ups also domestic waste in the oceans there are several things the biodiversity is depleting the mon

joining us from bloombergquint andumbai, agam vakil, annmarie hordern.ensex was heading for the worst week since may, but has popped on news of a cut for corporate tax rates. take us through that move? agam: absolutely. surprising move, from the finance ministry, considering that they are proposing to cut corporate taxes from around 30% to just a little over 25%. for those who don't have any exemptions, around 22%. this is evident from the moves we saw in the markets, advancing strongest inhe the banking index as well. once again, we need to look at the implications, but for now markets are certainly cheering the move. see -- on not we do because foreign portfolio investors have been selling on a consistent basis, and this could be a game-changer. matt: thanks very much. annmarie, you are looking at the markets after a mega-week of central-bank decisions. we are closing out the week after central-bank decisions being the driving force behind the markets, but today modest gains across the major indices. chinalia higher by 0.3%, higher by 0.4%, and japan e

francine these thank you very much, annmarie hordern. bank of scotland has -- affronted allison rose. she is an rbs veteran who will take over from the outgoing chief executive, ross mcewen, in november. joining us is our reporter who covers rbs. what we know about her issues been there a long time. she seems like a safe pair of hands because she knows the business inside out. >> yes, and it is one of the biggest lenders, and she has been leading the division, the commercial banking division, which represents a third of the revenues. so she knows how to do her job very well, she has been in rbs more than 30 years. so as you said, she is a safe pair of hits. the situation she is facing is brexit, andcause of also 10 years after they've a lot. the bank is hoping for the government to act as soon as possible. hardine: i guess it is not -- it is not a ms. that she is starting on november 3, the day after we could eat the october 31 deadline. we have a chart we have looking at the breakeven price, what the government would have to do to some

for more, let's get to annmarie hordern.achment talk has been surrounding donald trump's entire presidency but is only now becoming a tangible possibility with nancy pelosi saying she would launch in impeachment worry. what is impeachment? or what isn't it? it does not entail removing an official from office. it is a longer road. the constitution sites treason, bribery, or other high crimes and misdemeanors, which congress has included misusing the office for improper purpose or gain or abusing power. next, congress will investigate and judiciary would recommend one or more articles of impeachment or written charges. then we have the house voting. it takes a simple majority by the house in any article of impeachment to send to the senate. democrats hold 235 of the 435 seats. the senate then basically tries the president, this would mean 100 members would become a jury in a trial. witnesses would be called and evidence submitted. two thirds of the senate then vote to convict the president and he would be removed from office.

great context from annmarie hordern, tracking the oil story from our london hq.ther,s the story our guest. what we have been trying to grapple with is the market opens up 20%. she is up 10% now. that 10%, what do you reckon is supply angst versus steel pole -- geopolitical angst? >> supply is not going to be a major issue right now. we have seen the u.s. starting release its reserves. we are just coming out of a week where we ended on a sour note, and that is probably one of the reasons we had this big spike. there is no doubt we have been so much focusing on the economic slowdown in the recent weeks and months that the geopolitical risk premium all but disappeared even though we had some concerns about iran and the strait of hormuz. it will be five dollars or $10, we will have to decide that. nejra: that geopolitical risk premium, as you hint, seems very hard to price at the moment, so what do we do? stay stuck in a higher range or just have a lot of increased volatility in the short-term or both? ole: we will for sure see increased volatility. we are dealing wi

matt: annmarie hordern looking at her will house. let's get to the bloomberg first word news.t we go to sebastian salek in london. >> hong kong stocks stored -- sword on reports that -- soared thatortsn -- on reports carrie lam would withdraw the extradition bill. the u.k. is heading towards a snap election after the government was defeated on a key vote over brexit. boris johnson lost his majority early in the day. hours later, the house of commons voted to take the first step in forcing johnson to delay brexit and avoid a no deal vote. president trump is telling china to do a trade deal before next year's presidential election or face even tough negotiations -- tougher negotiations if he wins --econd economists are downgrading their forecast for growth in china. gdp forecast have been cut for 2020 below 6%. it is below a level that beijing sees as necessary to meet its goals. prime minister giuseppe conte set to form italy's next government. conte is now do to bring a list of ministers and a government program to the president today. a island a 50,000 people is 70% underwate

francine: annmarie hordern there. coming up, we speak to andrew bailey. we speak to him about all things brexit and financial regulation. this is bloomberg. ♪ francine: economics, politics and finance, i am francine lacqua. joining us is harry tchilinguirian. great to have you on an incredible date where we see shocks to the oil market. how do things stabilize. sauding will it take for to go back to a normal place? harry: it is difficult to say because the details are sketchy. on sunday, saudi aramco said they would should have a report. we will have to wait until we get that report to draw any conclusions. francine: where do you see oil going? would -- this was so sudden, does it change the nature of the alliance between opec and russia? harry: in terms of the alliance, this doesn't change anything. we will be in terms of prices, with a reaction in asia. oil prices have come down a little bit. what we are paying attention to is when the u.s. starts trading, because there are a lot of producers there will be using this oil price to hedge production forwar

annmarie: we have to kick it off with a movement in serious minerals. it is down to 47%.en, it plunged more than 60% which comes as a company says they will not go ahead with their planned $500 million bond issuance. this is bad for business. they have to possibly scale back this project they have in the united kingdom. zalando down to 10%. one of the shareholders selling off 13 shares -- million shares. sectorxx 600 energy is one of the biggest sector gainers this morning. we still see these energy gaining todayl after yesterday's record-breaking price for oil. francine: thank you, annmarie. let's get straight to the bloomberg first word news with viviana. viviana: weeks or months is the timeline saudi aramco is facing before a majority of its oil supply is restored. the kingdom's energy giant is growing less optimistic there can be a rapid recovery in production, following the weekend attack that knocked out half of saudi arabia's will production. roughly 5% of global output. over to the u.k., this or bring court starts hearing the case of ofis johnson's suspension parl

francine: thank you so much, annmarie hordern. up next, boris johnson. parliament returns, we will preview the crucial weeks for exit and for pound. this is bloomberg. ♪ ♪ from the 5am wakers, to the 6am sleepers. everyone uses their phone differently and in different places. that's why xfinity mobile created a wireless network that auto connects you to millions of secure wifi hot spots. and the best lte everywhere else. xfinity mobile is a different kind of wireless network designed to save you money. save up to $400 a year on your wireless bill. plus get $250 back when you buy an eligible phone. click, call or visit a store today. $110 billion in products, apple watch is affected. the fate of the uk's exit from the eu and boris johnson hang in the balance. after another weekend of violent protest hong kong police and radical behavior they report more than 1100 arrests since june. good afternoon if you're watching from asia. this is interesting in the context of brexit. the pmi falling to 47.4. anything below 50 is a contraction. they were already expec

here with the details is annmarie hordern. as the climate heats up, so do shareholder meetings.nd gas companies are facing off with activist shareholders who want to force management to think more green. investors voted overwhelmingly for a company to put its investments in line with the paris climate accord. we saw investors dump big oil shares. sharesvested 300 million in june. investors may have cause for concern according to a new looking to shed light on climate change when it comes to meeting the paris agreement. only two companies have come into alignment before 2050. report says a majority of companies are not aligned, mostly because they are focused on cutting their omissions while not worrying about emissions from the products they sell. bp is taking the lead, 83% of potential allocated to projects that will be safe investments to keep warming below two degrees celsius. -- u.s. giant exxon is the worst at only 63%. anna: thank you very much. let's talk about where we are on oil and where we see it heading. benjamin jones, senior multi-asset strategist, state street ban

annmarie hordern with a look at some of your stocks on the move.w rates are making trouble again. norway's sovereign wealth fund is having trouble and in search for returns. we will hear from our exclusive interview with its ceo. this is uber. ♪ -- this is bloomberg. ♪ ♪ matt: welcome back to "bloomberg markets: european open." right now we are 22 minutes into the trading day. we are looking at gains in europe, a bit of a drop in the u.k. as the ftse is off 7.5 points. let's turn now to central banks. new york fed president john williams says that although manufacturing is weakening, consumer spending in the u.s. is still robust. they arewarned that now caring much of the weight for growth going forward -- carrying much of the weight for growth going forward. fed officials remain divided on the need for policy intervention. the prospect of further easing and a downward path on rates sent european bond yields below zero. the ceo of norway's $1 trillion wealth fund says it makes it a less attractive prospect for those looking for solid returns. >> 3%

here in london is annmarie hordern.ian stocks surging for a second day despite the fact that the rest of asia is looking muted, even weaker. why are they bucking the trend? bucking theave been trend. after the finance minister on friday announced the slash in corporate tax rates, that is probably the reason why such a stellar rally has been seen. sentiment was down in the dumps for the last two months after the gdp growth has dropped to an almost six-year low. there were a lot of sharp positions in the system. we have seen a massive rally on friday and today as well. gains have been quite stellar. you have the banking stocks. ks havelly private bacniks risen. them, there is a lot of saving. of this, manyt brokerages have created the easiest targets. like morganuses stanley and goldman sachs and ubs have up the target -- upped the target. there will be a lot of savings at the corporate level. what willon is corporate india do? investors higher dividends? corporate india is a reason why our markets have been scaling highe

let's get more details from annmarie hordern. great to have you with us. what did you learn? >> the first thing to do is to go through this complaint from the whistleblower. the first thing is that it alleges that a number of white house officials were aware about this phone call between president trump and his ukrainian counterpart. the second thing, they tried to lock it down. i want to bring out one part of the complaint, what the whistleblower said. this set of actions underscored to me that white house officials understood the gravity of what had transpired on the call. it really kind of sets the roadmap of who the white house -- to the house intelligence committee needs to speak to and what exactly they need to be thinking into. it's a roadmap of who was involved and what information is being looked at for. nejra: what does it mean for the impeachment inquiry? where do we go? unclear. is very is, hear fromg the whistleblower himself. the white house -- the house intelligence committee chairman was saying he was contacted by lawyers within the next week we could see the

annmarie hordern has been tracking. good to see you this morning.his has got huge implications all the way across the u.s.. take it away. bahamastation in the from dorian's 100 85 mile-per-hour winds. catastrophic storm surge on theg likely occurring grand bahama island. the national hurricane service called this a life threatening situation. florida not out of the woods just yet. fluctuations in weather patterns could hit florida or further up the coast in georgia or the carolinas. form not make landfall at all. or not make landfall at all. trump's resortd in mar-a-lago often used as a winter white house. isrida's fuel situation particular. supplies have been draining up as drivers have been filling their tanks head of today's labor day holiday. of gas stations in the miami-fort lauderdale area are without gasoline. this is according to gas buddy. you can see all these updates. this unusual supply situation for the state. it relies on tips to bring most of its fuel. a hurricane could risk port closures and the state being cut off from supply. the l

joining us is our partner in mumbai and in london is annmarie hordern.retail inflation data stays within the central bank's medium-term target. helpingenign inflation boost expectations of a rate cut next month? >> good morning. even the industrial production numbers were very low -- very robust compared to the estimates. because you have had a good run this far, they have not had as strong a reaction in the session today. the last four days with the weekly performance likely to end in the green, that is probably a healthy sign. the macros turning slightly more favorable from an indian bowl perspective. -- bull perspective. for now, flat for the day and for the week as well. nejra: thank you. you are looking at the wider markets, how they are digesting the trade optimism and what we heard from the ecb in mario draghi. >> it is clear we see some of this trade optimism eke into the markets this morning. the s&p 500 rose to just under all-time highs after bloomberg news had that scoop out about the u.s. administration looking at offering a limited trade agr

annmarie: -- alix: so you have .ates that are going lower julian: for the most part, obviously, managing of a certain age or what have you are going to retire, as a matter of course, but this is really very specific to the fact that europe realizes it needs to play structural ketchup. -- structural catch-up. alix: if you can't grow, you can't compete. sonali: after commerzbank and bank'so -- and deutsche merger fall through, they both amounts to -- they both announced massive job cuts. alix: there you go. sonali: big numbers. alix: do you have a favorite area or is it universal? julian: evaluations are so ofressed, arguably because the dynamics of interest rates, but you really could look at just about anywhere across europe. alix: there's one take away from the last 40 minutes. julian thinks rates are going higher. sonali vasek, thank you very much nationally b -- sonali basak, thank you very much. julian emanuel, always great to see you. president trump addresses the u.n. general assembly in about two hours. if you are heading out and jumping into your car, this into bloomberg radio, h

annmarie: one of the big --sonali: one of the big surprises is he names that haven't come out now --g names that haven't come out. are waiting for news on who else is in this, but it is a big deal for bank of america. alix: why bank of america? sonali: they do have a lot of deals in the region. they are one of the biggest global banks. and this is a top role, not the top role. i think saudi arabia is really trying to get as many banks as possible into the deal as they can. something interesting also about bank of america, the ceo oo last year -- the coo last year the conference in the desert. david: does bank of america have relationships? where do they reside? sonali: they definitely reside high up into the bank, but i don't know who their lead saudi arabia anchor is -- lead saudi arabia banker is. these relationships do tend to go quite high in the banks. jamie dimon was bragging about the event in manhattan a while ago, so it is definitely up to the top of the bank. alix: in layman's terms, we know some of the banks are involved. when do we know the lead? could it be one of these

francine: annmarie hordern with the domain movers.et straight to the bloomberg -- with the main movers. let's get straight to the bloomberg first word news. >> the u.s. federal reserve cutting interest rates yesterday by 25 basis points again. jerome powell singh moderate policy moves should be sufficient to sustain -- saying moderate policy moves should be sufficient to sustain extension. he admitted weakness in global growth and u.s. trade policy are weighing on the economy. >> trade developments have been up and down. in any case, they have been quite volatile. we see those risks as more heightened now. we will be watching that carefully. we will also be watching the u.s. data quite carefully and we will have to make an assessment as we go. >> the fed making it clear it does not want u.s. money market rates to spike again. it will inject cash into the system for the third day in a row. jamie dimon shrugging off the turmoil. he says it is not a significant problem and will only be a problem if the economy weakens. norway's central b

down 23%.rtainment francine: annmarie hordern with your main stock movers.ondon stock exchange looks set to reject a takeover offer ong kong exchange. the former head of the london stock exchange says a consolidation of global exchanges is inevitable. >> the emergence, which we have been talking about for years, of a very small number, probably exchanges,e global global financial infrastructure companies is inevitable. francine: joining us now is bloomberg's finance reporter. how much do we actually know about what the london stock exchange wants and does not want? unsolicited. they're continuing to push forward with their own purchase. that is all we know so far. the lse board has not met yet. we are hearing from sources that there are a number of issues that stand in the way. francine: do we know why? >> there are security issues. the government said yesterday there are security issues on a foreign company taking over international exchange. are an iconhanges of the city and a treasure, if you would like. it is woven into the fabric of the city of london.

annmarie: let's kick off with edf. up more than 3.5%.mes as they said they found any factoring defaults in six of nuclear reactors, but it is better than what was expected. that's why the stock is rising this morning. montclair is to the downside -- moncler is to the downside. they could have sales trending downward of this year due to the hong kong protests. this said it would have been a good year if it was not for hong kong. deutsche's posts also to the downside coming down nearly 2%. seeing is across the entire logistics space and comes after fedex sharply cut their profit outlook. aftermarket trading plummeted, that's where we were at the head of the new york open, down nearly 11%. they are pointing to a slower global economy and pointing the finger at the trade war. francine: thank you so much. in the meantime, we are getting breaking news out of the u.k. as the august inflation rate falls. it's something mark carney will have to deal with. they have a gdp a little better than expected. expected is lower than but the concern is wha