david madden is an analyst for cmc markets.he timing of big releases or is there more to it? to a certain extent it can be the timing of big releases. but bear in mind consumer confidence here in the uk is not great and it is slightly cooling in the us as well. it is a problem for sydney world because the uk, ireland and the us are its biggest markets. but it also made a very large acquisition at the back end of 2017 for $3.6 billion and it loaded up on deck. it is the nature of the beast. sometimes there are not popular movies coming out on a regular basis and the financial markets will not forgive you for saying it has not been a good time at the cinema, please overlook the fa ct at the cinema, please overlook the fact there is a mountain of debt. sometimes you just can't be bothered to go to the cinema when you have got a tv with a subscription to netflix or something cinema and you don't have to spend a fortune on popcorn. that is a problem. yes, it is, but last year admissions to cinemas across the uk as a whole we re cine

margaret young from cmc market explains the seesaw in global markets this week. alleviate investors‘ concern of an escalation of this trade war into a currency war. and i think china‘s policy makers showed they are willing to come back to the negotiation table with president trump if he is willing to remove or defer these new tariffs in september. 50 what defer these new tariffs in september. so what did you make of the extraordinary market reaction on monday when of course the chinese did weaken the yuan quite considerably, did you think that was an overreaction? why are investors s0 nervous an overreaction? why are investors so nervous when they‘ve surely gotten accustomed to seeing this trade war blowout? 7.0 was long considered a threshold or a level that was going to be defended on. and this is the lowest level of currency of chinese currency in ii yea rs. currency of chinese currency in ii years. so, the consequence to the market is huge. and also after us labelling china as a currency manipulator, that could have more punishments to come. what do you think

joining us is michael hewson from cmc markets we've dragged you away from the trading floor.yesterday afternoon for us in europe, give us your take on all these different stories, hong kong, argentina etc.|j all these different stories, hong kong, argentina etc. i think one of the things that struck me yesterday was the fact european markets were trading in positive territory, we've had to absorb an awful lot of news flow over the course of the past 2—3 years, trump becoming president, brexit, north korea china trade. us china trade, now the prospect of political uncertainty across europe, italian elections, i think the thing that struck me more than anything else, all of these on their own probably could be containable and manageable but we are getting to a point where there'sjust manageable but we are getting to a point where there's just so much risk, such a big cocktail of risk, that you are seeing investors increasingly concerned about investing in equity markets, we are still at fairly elevated levels considering where we were ten years ago but what we are starting to s

markets also heading to the downside, you can take a look, losses across the board, all north of 1%, cmcts uk market analyst, michael houston, what do you make of the threat from china to retailuate on the -- retailuate on the u.s. >> you can see that it has, i'm struggling to understand the rationale china made announcement after president trump made announcement earlier this month, this isn't a surprise but given liquidity conditions in august trading, anything negative will tip markets over. inversion of yield curve is making investors nervous. dagen: let's look at 30-year yield, this is the long bond, this is the one that might be best indicater of what the future looks like in terms of economic growth, here, there and everywhere, really, below 2%, fell below 2% overnight and that's exactly where it is, so another flight to safety and you also had a good interesting point about why is so much money going into u.s. treasuries because there's a negative yield on so much debt around the globe. >> yeah, we are looking tat 10-year and 30-year here and how low yields are going, this is all

michael hewson is chief market analyst at cmc markets.us dollar but gold is at record highs against the euro and the pound and the swiss franc and this is on the back of falling yields. yields in switzerland and europe are in negative territory and union maker switzerland has started to charge wealthy clients with deposits of over 500,000 euros no .6% perannum and deposits of over 500,000 euros no .6% per annum and so how long does that take before that if x starts to trickle down and you get banks starting to charge deposits for putting money on deposit —— before that effect starts to trickle down. here we have inflation at 2%. what you make of the situation with thomas cook? it has come up with a way to raise money but that dilutes shareholders existing stakes and they have given it the thumbs down. at one point it was almost down 20%. not so much the fact it was the dilation, it was a month ago that it we nt dilation, it was a month ago that it went into discussions which is with the 18% stakeholder with thomas cook, which went into di