let's get more with edmund shing. ot a lot of people trying to figure out whether now is a good time to sell off. this chart would suggest otherwise. edmund: that is right, francine. the first thing to remember with the ftse 100. the ftse 100 is not a u.k. index. its constituents are a global company's -- our global companies. ofer brexit, because possible u.k. recession we should sell the ftse 100 really doesn't make a lot of sense. francine: right, so what happens now? edmund: the ftse 100 can benefit. there are global companies but their share prices are in pounds at the end of the day. the earnings are in different currencies. from that point of view, when you translate those earnings from whichever currency back to pounds, even the weakness of sterling, you should get the .ptical boost earnings francine: the counter argument would be unilever or other companies that have a big basis thatsee the prices fall they need to relocate some of the stock because they do not have access to single market. that would mean inc

edmund shing is with us from bnp paribas. -- ising any business there any sense of normal in the institutionalve world? edmund: i'm glad to say we are doing business. otherwise, i would probably be out of a job fairly quickly because these days, banks don't like to carry a lot of deadweight. talking about derivatives in general, there is a lot of business going on. what i would say is that institutional investors are being very cautious and trading carefully. that said, there is always demand for activities such as hedging. hedging stock portfolios -- that still gets done on a regular basis and we are still dealing with those requests. our people being more speculative? maybe less so. it is much more about hedging portfolios. overall, with china, if you are janet yellen -- china's pension fund, they want to play a bigger role in financial services, how should janet yellen see this? edmund: i don't think she should be too worried. i was just looking at the survey by the recruitment company and what they pointed out was quite interesting -- they surveyed on -- a bunch of london professionals and

edmund: no. i think people underestimate the power of apple on the software and the internet-side of things as opposed to hardware. mark: thank you for coming in. .dmund shinghree in new york. the battle of the charts. we have a look at the iphone index. this is a bloomberg. ♪ ♪ vonnie: live from london and new york, i am vonnie quinn. mark: i am mark barton. ."is is the" european close the biggest stories in the news. porsche will add 1400 jobs to take on tesla in a battle of electric cars. most will be in germany. the automaker will spend more than one billion dollars to develop the first battery-powered sports car in 2019. teaming up with the british government to test delivering packages by garonne. among the things being tested, the drone's ability to identify and avoid obstacles, and the ability of operators to fly multiple drones at once. they were criticized for not providing guidance on how not to fly drones safely. that is your latest bloomberg business flash. time for botc. the global battle of the charts. we look at some of the most telling charts of the day and what they mean for investors. you can access the charts by running the function feat