you've got the ftse trending softer this morning. pound will be a massive actor in the performance of the ftse going forward. this is bloomberg. ♪ ♪ go until theto start of cash trading. the pound is on the upside. we have seen it move higher. it is not huge, but nevertheless the pound catch a bit. trading flat on the cable rate and you see a similar move when it comes to euro-sterling. flathinese market was overnight but had a really solid session yesterday. stocks.eye on the oil the s&p yesterday finishing up by 9/10 of 1%. fair values, wall street at the moment looking fairly flat. let's show you what the futures look like here in europe. with are not really going to see anything of -- at an index level that is going to turn our heads, but there are some individual names that you want to pay attention to. tp icap to be one of those names. this is the shirt we find ourselves with -- picture we find ourselves with. accardo in the markets. it will be interesting to see how the oil stocks traded this morning. up about 0.2%. at an inde

company income on the ftse is generated outside of the u.k. and, two, has it been so bound over the politics during that period. he was suggests a contrarian trade, we go 8,000, there will be some up side for this index over the rest of the year. >> it's also coinciding with a slide pickup of q2 data and potential rate hikes let's notforget that jeff, i'm going to bring in steve who's out in westminster steve, jeff and i were just discussing the positive market's reaction in ftse, also seen it in sterling today. do you think the market's reaction is correct in pricing the events over the last 24 hours as positive? >> reporter: no. i think the market reaction is utterly irrelevant i don't think we've seen it all. there's a contrarian view. if the pound goes down, then it changes the trade. quite honestly it matters not a jot the movers on the u.k. financial assets today we still don't know what's going on we still have a very fluid situation. i would argue that as the minutes go on mrs. may actually gets a slightly stronger position and when i

the ftse is concerned, wednesday is the day, we've got the england game to watch.n sterling is bouncing today is because, of course, england did win in the all important quarterfinal >> sterling is remarkably trading up about .4% let's look at ftse as well it also seems to be trading with a spring in its step up already this despite the brexit negotiator resigning and we don't know who his successor is going to be. but let's take one quick look at u.s. futures things are going to be positive it looks like. dow opening 100 points higher. >> incred blg believe. big big week that's it for us hawaii is the first state in the u.s. to have 100% renewable energy goal. we're a very small electric utility. but, if we don't make this move we're going to have changes in our environment, and have a negative impact to hawaii's economy. ♪ verizon provided us a solution using smart sensors on their network that lets us collect near real time data on our power grid. (colton) this technology is helping us integrate rooftop solar, which is a very important element of getting us to o

it just was but the ftse is looking a bit shy. itjust was not but the ftse is looking a bit shy.looking a bit shy. itjust was not appearing. we are being told to move on. still to come technology and tennis, as wimbledon gets underway in london we'll look at how artificial intelligence is revolutionising one of the world's oldest games. you're with business live from bbc news. around one in six people don't have enough money to live comfortably when they retire. that's according to a new study by asset management firm schroders. it says there's a significant gap between what people expect to get, and what they actually receive. lesley—ann morgan is global head of retirement at schroders. tell us more about what you found, because i have to say since i started a job as a financial journalist, i feel like i started a job as a financial journalist, ifeel like i have been telling this story and things haven't changed. yes in the study of 22,000 people in 30 countries and a thousand people in the uk, we found that in the run up to retirement people were expecting to spend around ao% o

the dax is not doing so poorly as the ftse, up .5%.couple of ex-dividends this morning worth paying attention to. kpn is one of them. sumitomo is out with numbers out of japan. ford be an interesting week banks in japan if they start steepening the curve. to ¥27.1saying q1 net billion. net iseat net income, 7,000,000,000.18. stock down a percent. european banks haven't had a great run either. that's what they have done the eurosix months, a steeper -- yield curve will be beneficial to financials. european markets a little soft, london down .5%. elsewhere not bad as expected. ibex is very much flat. the real story friday was what was happening with the bank stocks. we continue to see tech selling coming through the earnings season providing a reason to rethink strategy. bank of america had a note saying it's time to get out of those stocks. it may be time to move into the em story. the earnings story, going into it with lofty expectations. they policy meetings coming up this week. jenna conwayw, over at citigroup. good morning. you've n

you have a ftse outperforming, still down 1%. 1.3%.x all down about the ftse mid is down 1.6%.rforming sectors, chemicals, industrial performances. the banks are under pressure. the banks did not have a good start to the year. up next, we focus on germany. this is bloomberg. ♪ guy: 10 minutes into the session, welcome back. let's talk about the individual names and figure out what is happening there. not all negative. on the freight am starting with one negative, airbus down 3%. more troubles here. it's set to miss its delivery goal on track engine troubles. that's one of the worst performers on the session. micro focus international gaining, its to sell its business segment to eq t for about $2.5 billion. that's higher. and lower as well, to syncrude krupp down- thyssen 1.9%. it is still subject to that european regulatory approval. guy: thank you. angela merkel's cdu and sister party, csu, are holding course in berlin later today. they are trying to reach a compromise in the dispute over migration. chad joins us from berlin. walk us through every are right now. rather dramati

the ftse had a good day because sterling is weaker.pound, they are praising quite a bad outcome for the uk. if we moved to the soft brexit we are talking about is being more likely, the pound will bounce, probably not good for the ftse. thank you, for now. still to come... is it a bird? is it a plane? no, it's ben, flying through the sky. i take a ride on the world's biggest and fastest city—centre zip wire and find out why and how they built it. you're with business live from bbc news. glad i didn't get to do that one! you will see that in about five minutes, it is really worth the wait. britain has a golden opportunity to switch to renewable energy without raising prices, but only if the government acts now. that's according to a new report published today by the national infrastructure commission, tasked with making recommendations about the uk's long—term infrastructure priorities. joining us from westminster is sirjohn armitt, chairman of the national infrastructure commission. good morning. we are talking about renewable energy,

dax is up 1.3% ftse 100 is the laggard, down 0.4% for the week. let's switch the sectors and look at where some leadership is coming from. real estate, media leading the charge, up about 1%, 0.9%. on the down side we have construction material down about a half percentage point. banks down 0.2%, in line with some activity we saw in u.s. trading with the flattening of the yield curve. all eyes on that after the fomc minutes. let's get to our top story china said it implemented tariffs on u.s. goods saying it will always fight back when its interests are impacted this after u.s. president donald trump fired the first shot in a trade war by imposing u.s. tariffs on $34 billion worth of chinese goods at midnight eastern time the commerce ministry accused the u.s. administration of acts like bullies and vowed to safeguard free trade eunice is in beijing there seems to be confusion as to what the state of play is exactly. a couple of headlines have come out saying china have imposed tariffs, but then rescinded that now they say they only implied tariffs

bringing the view back to europe where we are, mixed picture across the continent ftse 100 is tradingr by 0.54%. the xetra dax is lower by 0.2% elsewhere the french cac 40 pushing higher, and the ftse mib just barely clinging into positive territory let's show you final services leading the way higher just shy of 0.6% increase there. real estate, retail, insurance all gaining. on the down side basic resources trailing today off almost 1% keep an eye on the auto sector a lot of attention here after that big bump in psa a lot of attention on fiat chrysler getting ready to report after the shock announcement of former ceo, sergio marchionne departing. any updates around his health will be in focus our thoughts continue to be with him. when it comes to the ifo report, not too bad. a touch ahead of expectations. you can see the euro is creeping higher against the greenback there. one thing worth noting, when it comes to the car sector, export expectations for the car sector have fallen significantly. i imagine this has something to do with both the u.s. trade tensions and what's going on w

look at the ftse 100,

the ftse 100 up about -- around about 10%. gas was in the green and many key oil and gas companies trading on the ftse 100, but on the dax, down by 6/10 of a percent. s.a.p. gave its second-quarter announcements, worries about future growth draghi down as the worst performer in germany, even though the second-quarter numbers beat. last week on the s&p 500, right now we are trading lower. king dollar, a problem for future profits and noticeably worried about earnings. amex, phillip morris, and ebay among them. this is bloomberg. ♪ shery: from new york, i am shery ahn. bloombergcome to markets, balance of power. president trump taking aim at eu over the google fine. the storm still swirls over president trump over his remarks regarding vladimir putin. the white house efforts to contain the fallout. we have a stellar lineup of lawmakers who react to all these issues. ♪ kevin: the commerce department began open hearings is money to consider whether auto impor

and when the pound falls, the ftse usually goes up.you later to go through the papers. still to come... we'll be getting the inside track on all the big stories of the week including comcast abandoning its bid to reshape the media landscape with a takeover of fox with our economics editor kamal ahmed. you're with business live from bbc news. next, ryanair has cancelled 2a flights between ireland and the uk today as pilots go on strike. it's the second of three 24—hour strikes by ryanair pilots over pay and working conditions. adam french is consumer rights editor at which magazine. if people are affected by this, what are their options for redress?m if people are affected by this, what are their options for redress? it is really bad timing for people about to jet off really bad timing for people about tojet off on really bad timing for people about to jet off on their summer holidays and there are more strikes planned next week as well. if you are affected, the most important thing is do not take a refund and allow that like to be canc

we are looking at gains for the ftse, .5%. as tim said, watching the u.k.the rest of europe since the market lows in march. the cac is gaining. we will continue to cover these markets for you. i hope to talk a little bit about cars as well when we come back. this is bloomberg. ♪ guy: welcome back. you are watching the european open. we are 46 minutes and. nordic stocks a firm focus this morning. i have struggled to pronounce some of them. let's find out how maria gets on. maria: that could be challenging. europe's biggest semiconductor equipment makers. as you can see, it is just reported earnings, which beat expectations from net sales to margins. also interesting that the company is saying the second half could be better than the first half. the market seems to like this. i want to move on to ubi soft. this is a videogame maker that is also up today. noteey said just put out a suggesting the second half could be better for the company and its rate. i want to move onto one of the biggest decliners today in the llerudkorsnas they just reported earnings that

the ftse down by 22, the cac 40 down by 19 and dax down by 32 and u.s.tures looking like this this monday morning, dow futures up slightly by 4, s&p down by 2 and nasdaq by 12 and a half coming down from pretty rough last week fas dabbing. we have earnings this week, caterpillar, dow component this week also, apple and tesla looking at commodities right now, you can can see board there. switch to go currencies, you is euro, uk down, but right now send to mornings with maria, cheryl casone in for maria bartiromo, you are a busy woman this morning. cheryl: i am, tracee, thank you so much. yes, good morning, i'm cheryl casone i'm in for maria bartiromo today, it is monday july 30th and top stories at 30:00 a.m. eastern time. tech stocks in focus, apple reporting after tomorrow's close and comes after last week's tech wreck on wall street, we will be looking at the earnings effect on your market. investors also eyeing the economy, maria speaking to vice president mike pence in an exclusive interview weighing in on the state of the economy after friday's gdp

the ftse mib is higher by 0.45%. oil and gas are leading the way higher by 0.6% we're seeing strength in banks pushing higher by 0.5% we'll dig into the details of credit suisse in a minute. you're looking at construction materials, chemicals, financial services and technology lagging. technology weakness is the big story overnight. we'll dig into that. right here the focus on credit suisse, which did soundly beat estimates with a 114 rise in second quarter net income attributed to shareholders the wealth management business had 23 billion francs in net new assets joumanna is in zurich with the details. as this restructuring plan nears an end of its three-year wonder, i have to wonder if the ceo is patting himself on the back. >> given the price share reaction i would suspect he will even though he says there is work to be done. they're about ten quarters of the way through the 12-quarter transformation plan. they beat on the top line. they beat on the bottom line let's dig deeper and look at the composition of where

the ftse 100 higher by 0.6%. the dak leadix leading the way r by 1.14% the cac 40 and the ftse mib also higher the dollar weakness was in focus yesterday. today the dollar is slightly lower against the japanese currency the euro slightly lower against the dollar at 1.1678 the number was led lower by services sterling at 1.300. the yuan rate at 6.8129. let's check bond yields. it was news around the boj looking to make tweaks to its monetary program global bond yields moved higher. today the ten-year jdb giving up some >>> eu commissioner president jean-claude juncker is traveling to washington, d.c. this week in a bid to reduce trade tensions with the u.s. white house. white house advisers expect to offer details about a specific trade deal eu officials say they won't happen donald trump has blasted the eu as a foe and has threatened to extend tariffs on eu steel and aluminum imports to include the car industry juncker criticized the moves as brussels prepares a list of american goods it could slap with retaliato

theg by the ftse, do i buy ftse or the pound?th antagonistic. >> with all the brexit uncertainty, we will be watching the pound quite closely. when the data comes out around the employment figures,, wage figures, wage growth, i don't expect people see a big difference. let's start with british investors. what do british investors do right now in order to preserve capital, or even find some return? >> it is a good question. the return of capital is as important as the return on capital. we have actually seen value stocks outperform in the last year. >> bond proxies in outperformed because of uncertainty. due to the nature of consumer staples, value stocks have really outperformed. the msci, 25% of the benchmark is dedicated to technology stocks. in the u.k., only 1% of can beogy stocks disrupted. u.k. market is fundamentally different to the rest of the world. the stock market and the economy are very different. when the pound weekends -- weakens, the bond market outperforms. guy: this is not related to brexit? >> no. rushould exp

we have a ftse 100 that is positive this morning. ibex that is positive.he dax that is not open yet. and smi that is mildly negative. you can't take much away from an index level story this morning. yesterday was all about tech. story ofcertainly the the u.s.. socgen.s us now from did we just get us in a little bit of a tizzy, anticipating the boj would deliver more than it was ever going to do? kit: -- do? we never got any indication they would do anything official at this meeting. the bond market got excited and we pushed yields up 10 basis points in the not much happened. it will be like this every time. to startgoing to have moving towards normalization overtime. in our lifetime? kit: i think so. you can't just keep wondering doing the same thing and saying i have to go on doing it because not working. we know there are unintended consequences. there are side effects from these policies. they need to normalize rather than just stay ad infinitum while we still have no inflation. idea toell be a better get us used to having a currency that ulcerative fai

ftse futures up 0.4%. dax futures up 0.6%. we could be on the cron for a positive open this morning. take a look at the gmm to see what asset classes are indicating. asian equitywith indexes, they are all up. every major asian equity index across the region is gaining. two of also got moves in the hong kong dollar. on the upside you can see everything else down against the greenback. the same is true if you look at the euro and pound. they are also down. take a look at what we see in the rates market. take a look at what we see across some of the other asset classes here. commodities for example. we see aluminum rallying. oil, by the way, is down whether you look at brent or nymex. you see sovereign bonds here, this black box indicates we have more than a three standard deviation move. up or down from the 90 day score. a real move in the long thailand bonds. japanese rates are up, that is another reason you saw the rally. let's get there right now to bloomberg first word news in singapore. china has unveiled a package of polic

the ftse outperforming the rest of european markets, up two thirds of 1%.r battle the charts. maria today are will play dani burger. maria will kick in soft. go for it -- kick things off. go for it. story of the day. president trump attacking theresa may telling her you need brexit plan or there's no u.s. trade deal. look at this chart. this is the trade relationship between the u.s. and the u.k.. what you can see is that in reality when you look at the data, the u.s. gets the best end of this deal. last year they posted a massive trade surplus with the u.k. and this year the u.s. is also on track to see a surplus area right now, we have about $500 million but as the year continues, that could go higher. the idea is when you look at data, it's the u.s. that is eating the good deal. we will take that one into consideration. what do you have? >> always given me some tough competition. i'm looking at another trade angle of this is not just crude reacting. this is another knock on effect. this is bearish options on the largest junk bond etf. look at how the num

you are seeing the ftse up by 6. cac by 16. >> there's optimism in asia market, every market higher than nikkei. shanghai composite up more than half percent. >> latest to attempt to save boy's soccer team in thailand and unfortunate it has turned tragic. fbn:am starts right now. [cheers and applause] cheryl: 5:01 a.m. in new york. friday july 6th, good morning i'm cheryl casone. tracee: good morning, tracee carrasco in for lauren simonetti. cheryl: 34 billion in chinese goods have now taken effect. airplane parts, farm equipment, president trump did talk about strong stance on trade during big rally in montana last night. >> i respect china and i respect president xi but they've been killing us. $507 billion in trade deficit. not a free trader. no, the war was lost. we are going to win it because we have all the cards. you know that if we knocked down the trade deficit, right, trade deficit by just a little bit 25%, question do that easily. that's easy. if we do that, we pick up 1 point in gdp, does anybody know tha

the ftse come the ftse comest cacm dax on the green. >> stocks in asia in the great we the great reboundingirman of papa john's pizza has resigned. we've got details. "fbn:am" continues right now. >> 530 am in new york on thursday, july 12. of gerri willis and for lauren simonetti. >> and cheryl casone. president trump wrapping up his nato summit with tough talk on germany and russia. he has to the u.k. about an hour from now on is acted to be met there with protests. of course he's headed to helsinki where he's going to meet with russian president vladimir putin. remember when president trump said this. >> the u.k. is in turmoil and frankly put in maybe the easiest of them all. you would've think. cheryl: will trumps tough talk had the same effect with vladimir putin? joining us now for their policy adviser to george w. bush michael barnes and former obama campaign regional or, robyn biro. >> good morning. gerri: robin, let's talk about your initial thoughts about this tough talk. he has reiterated, he is not threatened to pull out of nato. there is some concern he was going to do that, bu

if you look at the ftse 100, it's trailing ever so slightly in negative territory. elsewhere look at the german dax, powering ahead by 1.4%. getting a boost in earnings. look at the cac 40, it's higher by 0.7%. in italy, the ftse mib ticking higher by 0.75%. autos are leading the charge today. a different story from what we saw yesterday. autos higher by 1.4% chemicals higher by 1% on the down side, we are watching a bit of weakness in technology keep an eye on that sector, we will get into the details of facebook in a second basic resources off 0.2% it was a strong rally on wall street the nasdaq hit a record high but could be due for a pullback today. you are looking at the implied open, down by 114 points the dow jones is still looking higher of about 40 points. s&p slightly lower let's talk about that drag on tech it's all about facebook. facebook shares have been plunging in extended trade falling as much as 24% at one point after the social network warned about decelerating revenue growth the stock is poised to lose around 1$130 billion in market value in its

ftse 100 up only about a third of a percentage point. also i should say that uk some brexit news, we have this important checkers meeting coming up in the next 24 hours that will be key to watch from the political standpoint let's get into sectors as i mentioned, autos are leading the charge up 3.4% in early trading. this is, again, some optimism prevailing in that sector on hopes that an agreement may finally be reached between the u.s. and eu with regards to potentially cutting tariffs to zero food and beverages are struggling on the back of that food story. >>> china's commerce ministry says beijing does not want to have a trade war with the u.s., this after the chinese finance ministry made clear it's waiting for the u.s. to make the first move before it implements tariffs on a wide range of u.s. products washington has said it would impose levees of $34 billion worth of goods on july 6th china said it would retaliate with equal measures on the same day. europe's auto sector is on track for the best day in 18 months on a report that

the ftse mib down 0.01 you can see banks and insurance sectors are in the positive. oil and gas above the flat line. we'll look at oil and gas later on basic resources down 1.7%. you can also see that media and chemicals also trading pretty poorly now let's talk about another sector a truckers strike in brazil alongside weak pricing hurt unilever's second quarter sales. they missed expectations the consumer goods group said overall market conditions had been challenging during the first half of the year but it kept its full-year targets unchanged. the company behind dove soap, they said they were on track of meeting its goal of a 20% operating margin by 2020 i sat down with the chief executive this morning and asked if the company was on track this year to hit targets for sales growth >> we're confident that we will be in the 3% to 5% the first half would be lower on the count of lower pricing and picking up in the second half. what you see behind the results is a strengthening of the volume component, which is the most important. i also think this volume component d

in italy, the ftse mib is up more than 0.27 markets u.s.in a few hours time. u.s. futures we'll see towards the end of the program. >>> theresa may has narrowly seen off a rebellion after surviving a series of parliamentary votes on her brexit plan. this after caving in to four amendments among them put forward was a measure aimed at frustrating pr theresa may's customs arrangements may insisted they were compatible with what was laid out. >> i would not have done all the work i did to reach that agreement only to see it changed in some way through these bills. they do not change that checkers agreement. >> and in relatively related news, the british electoral commission has fined vote leave 61,000 pounds and referred it and one official to the police for spending rules they say vote leave worked with another group, be leave, with joou working with spending levels we have the founder and chairman of finsbury with us this morning. let's start with that leave from the electoral commission in light of the behavior of donald trump yesterday, ju

the ftse is up. the ftse is up. and outsmarting trump's tariffs — we'll be talking to the boss of one taiwanese tech giant to find out how it's avoiding the fallout from a trade war between the world's two biggest economies. and england manager gareth southgate is in high demand on and off the pitch with big companies and some of the world's leading investment banks wanting to book him for high fees to talk about management techniques. yoday we want to know who would you pay big bucks to hear speak and why? just use the hashtag bbcbizlive. hello and welcome to business live. eu leaders have urged china, the us and russia not to start a trade war, saying there is still time to prevent chaos. the chinese premier is hosting an annual meeting between the eu and china in beijing as the world's second biggest economy looks at how it can strengthen its position amid rising trade protectionism from the us. europe's single market and china are two of the biggest trading partners in the world. eu exports totalled $230bn last

now there are only eight all—male boards in the ftse 250.eased from 11% to 28%. and while there's a ways to go, it's a good start. but while dressing for such posts can be easy for men, just a shirt and suit, for women it can be more complicated. which is where our next guest comes in. the fold is a contemporary label, fonded by polly mcmaster in 2012, that embraces fashion and aims to inspire the modern, professional woman. polly joins us now. pollyjoins us now. your background was in financial consulting. you decided that few had to have a few outfits that looked the part and it inspired you to start this business? that's right. i was working in consulting and private equity, very male dominated. i found consulting and private equity, very male dominated. ifound i needed to be very competent at work and dress the part. when i went to my wardrobe in the morning ifound it not very inspiring. if you are trying to put your best self together in a really important presentation going for promotion or an interview, you need to feel that inner con

ftse by the third of 1%. a third of 1%.is bloomberg. ♪ >> from bloomberg's world headquarters in new york, i am shery ahn. inin: i'm kevin cirilli washington, d.c. this is "bloomberg markets: balance of power." shery: there are the top stories we are watching. andident donald trump iranian president rouhani are exchanging inflammatory words. midterm election watch, we will hear from republican congressman urbelo, who has introduced legislation on climate change. changes forcedcy the boj to purchase an unlimited amount of bonds. president trump is turning

trading below that flat line if we look at the individual markets, the major four indices, only the ftse 100 is in the green this morning the xetra dax is below the flat line in paris, the cac 40 is down in italy, the laggard, down a full percentage point at this point. let's look at the sectors driving some of those numbers, the auto sector, not a huge surprise given uncertainty out of the white house it's down 1% the other end of the scale, household goods and healthcare performing relatively well let's talk about the white house. the dollar weakened against major currencies after president trump criticized decisionmaking at the federal reserve in an interview with cnbc, trump broke with tradition and openly disparaged the u.s. central bank's increase of interest rates. >> i put a very good man in the fed. and i don't necessarily agree with it because he's raising interest rates i must tell you, i don't i'm not thrilled because, you know, we go up and every time you go up they want to raise rates again and i don't really -- i am not happy about it, but at the same time i'm letting them

dollar by 0.40 the ftse 100 is up 0.59% the xetra dax is up 0.69%.s up 0.40% the ftse mib is the single major market in europe down 0.10%. sticking in europe, strengthening the demand for swiss watches in asia and america boosted swatch's first half net profit by 67% the swiss company said it expected further growth in the second half of the year predicting more opportunity to expand market share. we are joined by the chief executive of swatch, nick hayek. i have to ask you, where do you see this opportunity for increased market share which territories? >> yes, hello, everybody this time you're late, cnbc. you need a switch watch in studio to talk earlry ry in the morning. i'm always happy to be with you. you see the opportunities are everywhere in the world. even in the united kingdom we see that the business is going well not just in asia, america, but across the boards through all segments that's very good good news. we're bringing upon a good 2018. >> are young people increasingly interested in buying a wristwatch >> yes the young people are much

the ftse is in positive territory. standout story here this morning. ♪ guy: 30 minutes into the trading day. are we headed to seven for the dollar? trump fights the fed, he is not thrilled about powell raising rates. but is he really taking aim at china? good morning. welcome. you are watching "bloomberg markets: european open." i am guy johnson at the european headquarters in london. it is a pre-shock about what is coming later this year, these are what the markets are doing now. british american tobacco trading at a high point. bat is doing well. hasmarket likes what thales to say. market,om end of the interesting stuff happening here as well. store and so is trading stora enso is trading down. beazley is trading down. we also have numbers out, strong numbers with the market largely pricing those in. a bunch of factors moving the markets. let's get a bloomberg first word news update with juliette saly. juliette: u.s. president donald trump has intensified the uproar over his meeting with vladimir putin by extending a

mid haveand the ftse been acting contrary into the rest of the european trade.ly, a little bit of trade. the u.k. is up about 1/10 of 1%. guy: thank you, matt. an interesting morning in terms of what is going on. a bunch of currencies right now. we're watching what is happening with the yuan. the pound is clearly a factor for sterling. as much as 80% against the dollar. the pound dropped in 2016 the day after britain voted to leave the bloc. we cap charlotte ryan -- have charlotte ryan and our guest from socgen still with us. let's think about what analysts are saying. how willing are they to make predictions about what would happen, what are they saying if we get a no deal? it is one people have mainly found a little bit too much of an outlier. people are starting to think about it in a more serious way because of all the political turmoil we have. there are questions about what would happen if we get some sort of leadership challenge early election. made,ce a prediction is the pound dropped to 120 on that no deal brexit scenario. banks in theish survey was 115

myth -- ftse mib is up right now. show you what is going on with the individual names. the mov screen tells us we have some of the germany technology stocks trading strongly this morning. bouncinghe miners back, some of the health care stocks doing well. bp is trading a little bit higher. in terms of the percentage b.e. semi is turning in little bit negative this morning. with our -- we are seeing b.e. semi trading lower this morning. the euro opening higher. the smi has just opened up by 0. 3%. we will see how the dax trades this morning. let's turn to our guest, david sneddon head of technical -- at creditbitda suisse securities. good morning. david: good morning. guy: we have a german government still intact this morning and a euro trading higher. is one of the stories that seems to be caught up in this trade narrative. it is an interesting little index. david: it has clearly suffered from german internal policy, clearly, but also the e.m. story. tariffs in china clearly hit germany harder than other places. the da

we typically see the cac and the ibex open right after the ftse.n see the british index loses ground, down .25%, and we're still awaiting the others to pop open. 20%, they are, cac down ibex down .3% as well. germansoing to take the -- take a moment for the germans. take a look at the imap and the industrial breakdown of trading across europe. this is the bloomberg europe 500 index broken up into groups. financials are down considerably, and that is going to the focus because of earnings this week. we also see material stocks gaining, i know of aluminum was up big. we didn't see oil moving up, but we do see materials gaining. we'll keep an eye on those things. take a look at the stoxx 600 movers. we'll see some of the individual names here. i'll pull it up on my screen there. novartis leading the way as far as point reduction. the size of that company helps. it's only off .7%, but when it comes down, it's really felt because of how big it is. we see hsbc down .5%. fiat chrysler very interesting, down 4%. the head of jeep, replacing the ceo of fiat

ftse 100 is trading higher. the miners are having a pretty good day.was hoping of reaction, that is not happening. surveillance is next. this is bloomberg. ♪ . . phones have made our lives effortless. streaming "must see tv" has never been easier. paying for things is a breeze. and getting into new places is even simpler. with xfinity mobile saving money is effortless too. it's the only network that combines america's largest most reliable 4g lte with the most wifi hotspots and it can be included with xfinity internet. which could save you hundreds of dollars a year. it's a new kind of network designed to save you money. click, call or visit a store today. francine: david davis has for the exit. resigns,t secretary saying they put the u.k. in a weak negotiating position. can the prime minister hold onto power? a down week. shares drop on the first a with escalating trade tensions and uncertainty about valuation, to doubtvestors reason the company. and an escalation could be disastrous for the world economy. we will bring you that exclusive interview. ♪

i went into ftse and look at the lastperforming company in 20 years.purple line the bookies has risen a whopping 4837%. englandn the website, to win, 11-5 tomorrow, colombia, 3-1. , wer we beat colombia lost. bode badat does not things, but it's good to see the as and the last 20 years when i was in nappies. vonnie: i think that was very l,ever and i remember it wel and i remembered because i looked on the internet that england one that 2-nil. we need to wish england all the best in this particular round. it is hurting need to do so, but yes, i do. thegoing to hand you win. het did a wonderful job so is a great runner-up status today. this is bloomberg. ♪ ♪ live from new york, i am vonnie quinn. mark: i am mark barton in london. this is "bloomberg markets: european close." economies.about technology has a new venture. orcam makes devices for the visually impaired. he joins us, tell us about the orcam myeye. what is its unique selling proposition? ziv: we found this company eight years ago. develop a small that you attach to the arm of any pair of glass

the ftse up by 20, cac before did commit dax by 133. >> 1% gain in germany.s lower as the trade between china and the u.s. and stocks in japan showed pressure. the shanghai composite down 1%. >> were stronger than expected jobs report pushed the fed to be more aggressive in its rate hikes. "fbn:am" continues right now. cheryl: 5:30 a.m. in new york. the morning after fireworks. i'm cheryl casone. tracee: good morning. i'm in for lauren simonetti. did you have a nice fourth? >> i did because fireworks did wake me up. tracee: americans celebrate fourth of july yesterday. protesters nationwide had a plan the most notable, this woman scaling the statue of liberty to protest a trump administration immigration policy. she said she wouldn't come down until all the children were free. another group dropping this abolished ice banner near the statue. >> more democratic lawmakers are joining this protesters in their fight. let's listen. >> we believe that we should protect families that need our help. that is why i believe you should get rid of that, start over, reimag

take a look at those markets but the ftse up 38 come 38 come and see a sea of 45. the dax and germany over 101 points. cheryl: asia mostly lowers japan's nikkei closed in the grain. gerri: the incredible story of a man who walks 20 miles to his first day of work and it's a good reward from the boss. "fbn:am" starts right now. it is 5:01 a.m. in new york on day, july 18th. on gerri willis in for lauren simonetti. adam: and i am adam schapiro and four cheryl casone. gerri: it is the gender equality program today. so much going on today. i want to focus not on putin, but what is going on in the markets in the economy. breaking this morning, google reporting a record $500 billion fine for the european union for breaking antitrust laws. the european commission has been investigating the alleged dominance of software that runs smartphones. the e.u. antitrust chief holding this conference at 7:00 a.m. eastern. shares of google's apparent offer better lower in premarket trading. >> president trump and serious damage control mode backpacking from remarks on russia's meddlin

the ftse higher by 11 points.ikkei rising slightly as the bank of japan said it would continue to keep interest rates low. stocks also up slightly in shanghai and south korea. cheryl: a guilty pleasure at the big bucks to retailers. how much americans are spending while they are shopping online and drunk. "fbn:am" continues right now. cheryl: coming up on tuesday july 31st. i'm cheryl casone. lea: good morning. i'm later gabriel and for lauren simonetti this morning. cheryl: with edified amongst the crew about drunk online shopping. a lot of people admitting to it. >> one of us may have committed to it one of us may have not. that story coming out. the first to develop a news the president. he is renewing a threat to shut down the government over border security. he treated last night we must get smart and finally do what must be done for the safety and security of our country. griff jenkins live in washington with the latest. >> fighting words out of the president. mitch mcconnell and paul ryan met with the presi

research from ey shows that the number of profit warnings from retailers on the ftse have doubled in half of the year compared to the same period last year. 20 companies issued warnings with many of them coming soon after the all—importa nt christmas period. physical and mental exhaustion is something that most people in the start—up world can relate to. but for ad agency boss michelle morgan, it led to burnout, and her taking 18 months off work to recover. so what happens to a company when the boss burns out? i've violently, physically and mentally burnt out. when you start a business, i think you are responsible for everything. there is a narrative around investment and scaling and brushing and speeding and growing. that is not always the definition of success. i think that getting myself out of the way was the best thing for me andi the way was the best thing for me and i also think it was the best thing for the business as well. for yea rs, thing for the business as well. for years, i thing for the business as well. for yea rs, i love, thing for the business as well. for years, i

also ftse 100 about a third of a percentage point higher. ftse mib is trading more than 200 points higher. >>> let's look at u.s. futures dow seen opening up about 60 points higher. nasdaq about 20 points higher. momentum in the tech stocks continuing we've seen that in the last couple of sessions today it looks like it will continue that trend as well. our top story in europe, angela merkel has reached a deal with horace seehofer ending a bitter dispute that threatened her coalition government after hours of crisis talks, the two leaders said they reached an agreement on germany's migration policy willem is in berlin. they were known as sister parties, but after this, csu's authority dipped in the polls, merkel has weakened. it is a negative outcome for a fragile coalition. what do you think the political implications are from here >> at this stage we're waiting for the spd to give their approval of this latest deal the politicians this morning say they expect that to happen but there may be more tweaks made to the proposal whereby migrants

the ftse trading .2% higher in line with the broader equities reaction this morning. but still, a crucial week for the uk and also let's not forget, president trump is paying us a visit at the end of this week as well. >> it's going to be a big week, that's for sure. kirking it all off today thanks jou man a. >>> the public debut emily tan has all the details. hi, emily. >> the number 4 smartphone maker made a debut today it was the most actively traded stock. $984 million worth of shares changing hands 17 hong kong dollars after falling as much as 6%. but closed at $16.80 down 1% the company raised just over $3 billion after fees and commission after pricing shares at the bottom of the range it was one of the world's most highly anticipated ipos this year but comes to market as a time when the hong kong and china markets sold down. lingering concerns over seat valuations and the u.s. trade war. it's the biggest tech ipo in four years since alibaba it's the first stock traded with weighted voting rights in hong kong it's seen as a test of investor sentiment as there's

right now the ftse 100 is the leader higher by more than 1% as president trump continues his visit to the uk. >> in today's top corporate story appealing at&t takeover of time warner. the doj now arguing that the company combined would decrease competition and raise prices for consumers. what does it mean for the prospect of this deal? let's bring in corporate finance correspondent at the "financial times" you've done so much reporting on this deal what do you make of this specific announcement from the doj? >> well, as if we needed more fireworks in the media and telecom space. an extraordinary development overnight. the u.s. government taking the decision to appeal its loss case in the courts a month ago that would allow the at&t time warner merger to close and they brought the case 30 days later and after the judge in that case ruled that he saw the court argument to be so bad didn't even merit it an appeal most people are shocked by the reaction if you remember the start of the week, there was news reports of about discussions inside time warner's camp at hbo where executives were

ftse futures, up. traders are selling u.s. 10 year. pushing the yield up. 2.84%. risk signs across other asset classes. let's want you around. europe had a solid and day. seeing, cominge into the afternoon session, it did not happen in the morning. austria is trading higher, the higher in japan. more gains, i think, as well. trading strongly. chinese markets setting the tone right now. in terms of the currency markets, the dollar is on offer as we approach and on arm payrolls.-- nonfarm the yen isar, trading softer. even the british pound is a little bit bid, but not by much. let's go to first word news with juliette saly. >> u.s. president donald trump has fired the biggest shot yet in the global trade war by imposing tariffs on $34 billion with of chinese imports. china said it would be forced to retaliate. trump said $16 billion could follow in two weeks. suggesting the total could reach $550 billion, a figure that exceeds the total of all goods imported from china last year. president trump: the war was lost on trade many years. now, we are going to win. we ha

for the ftse 250, it is about 250, pretty high. these companies, they are very global, and advantage by sterling falling. no doubt about that. having said that, they have hope exposure as well. and i worry they would be more sensitive if you saw some bad political outcomes happening. so i feel they are more vulnerable, some a little more secure. on the other hand, they have a lot more exposure. so a mixture of things. to trade these problems the u.k. is facing, you want to design a more the spoke domestic, rather than the 250, which as you say, is a broad index. nejra: good insight. thank you so much to our guests. great to have you all joining us. stay with surveillance, plenty coming up. eu's chief brexit negotiator means the uk's new brexit secretary for the first time today. credit market shift in the relationship between london and brussels? and making up for lost ground, unilever sees a bounce back in ales growth after a brazilian trucker strike earlier in the year. we speak to their ceo. this is bloomberg. ♪ nejra: this is t

look at the ftse 100, up about 4%. aeresa may has finally put path forward and it's a very narrow path and certainly a treacherous path that could backfire on us. it's the first time we've really seen something concrete out of the government to move forward and complete this brexit in some fashion or another. we get more details on thursday when we get the full report. right now you see the reaction by the markets are telling you that this is what they want. they do want some sort of clarity and some sort of finality. this is what i didn't understand. when i first saw the headline i thought this is not a bad thing because now hardliners are out of the government and no one wants theresa may's job so you can make all the noise you want and why is in the narrative we are looking to a softer brexit party? marty: i think her appointment of the new brexit negotiator is a very positive sign for a path forward as she suggested and that is something the markets want. it will take more than just a few days to figure out whether

the ftse 100 is down by just over one third of 1%, andy da -- and the dax falling further, almost 1%the negative. the imf said it no deal would crash -- would affect economies across europe. the imf warned the eu can expect to see a all in gdp of 1.5%. the uk's closest neighbor, ireland, will suffer even more because of its shared border and close trade ties. if you hit the gdp parallel with britain's at nearly 4%. plantrst waste to energy is opening. it ain't the tackle a growing waste burden in the capital and whose power supply in the country. not everyone is pleased. the 50-year-old dumpsite is a lifeline for local residents these if this cap which are recyclable waste. reporter: this mountain of rubbish. with some 300,000 tons of waste and enough -- ending up here every year. the newly built plant is set to turn garbage in a gold by generating energy from the methane arises from it. >> you are talking about 185 gigawatt hours of electricity generated input to the main grid. lights will bed from this facility. the 120 million dollars project is a collaboration between the ethiopi

we saw a brief green arrow on the ftse and the cac, as well. we have had futures down low and asian markets coming off their lows, maybewe'll c a little bit of a pickup -- maybe we'll see a little bit of a pickup. you do see the ibex down a little bit today. on friday, we saw other markets of and the ibex down. the ibex up on thursday as other markets were down, kind of doing the opposite of everything else. very little movement. let's take a look at the imap and see if we can spot any interesting trends out of the industrial trade there right now. you can see some red and green smatter throughout your picture, but we do see consumer staples taking one of the bigger hits. industrials taking a decent fit, as well -- hit, as well. more green than red. you will see more winners than losers on the stoxx 600. far 278 trading up and 178 trading down, a little bit of positive breadth of their. this is broken down by percentage change. you don't see many big gainers. 2%, but not about one of the biggest stocks. none of the big stocks moving much at the

a quick look at the markets, not a great start to the week, the ftse 100 affected by worries about tradeexit weighing upon investor minds. back to you, ben. thank you. see you later. portraits of four generations of the royal family will go on display to mark the prince of wales' 70th birthday. sketches of the queen mother, the duke of edinburgh as well as the duke of cambridge and the duke of sussex will be displayed at buckingham palace over the summer. the pictures are from prince charles' personal collection and are among more than a hundred pieces of work on show. time to look at the weather prospects, how it will be in the next few days. dry and hot and sunny for the next few days, possibly also into the second week of wimbledon, plenty of sunshine, i'm having trouble moving my graphics on a little but hopefully they will catch up. here we are, dry and sunny, temperatures in the high 20s and the light breeze, you could apply that forecast to almost anywhere in the country. this was the scene in derbyshire, blue skies and sunshine, if it's rain you're after, and many people are, the