on the mhp it provides a bit of assurance that erdogan doesn't have absolute power, that parliamentith the mhp will moderate perhaps some of the excesses of, you know, single party ruling effect with akp and erdogan. that's a silver lining for the market >> and also perhaps one of the reasons why the currency is reacting so much stronger. why do you think the currency is reacting so well >> well, a few things. it wasn't particularly excited about the prospect of co-habitation. i think most people assume it will be a difficult relationship if the opposition is the parliament and the presidency. most people assumed that would lead to early elections, joint presidential and parliamentary as it is, we don't have the uncertainty of the two-week second round presidential election again, the chances of early parliamentary presidential elections are reduced. i guess in the end we know erdogan, he's been in power for 16 years i think there's a bit of an assurance that he doesn't have an overwhelming majority in parliament the mhp can provide a check. people are waiting to see particularly in

and there is a kurdish vote that will matter hugely. —— centre—left and mhp.ay into parliament it could mean the ak party and the mhp lose seats in the parliament and that will make things very complex. police in zimbabwe say 49 people were injured in the explosion yesterday at a political rally held by president emmerson mnangagwa. police say they're expecting more casualties to come forward. an investigation is under way at bulawayo white city stadium where the blast took place. president mnangagwa says next week's elections will still take place. eu leaders are meeting in brussels to discuss europe's strategy on migration. 16 of the bloc‘s 28 member states have gathered to try to mend the rifts that have emerged over the arrival of african and middle—eastern migrants. the talks are taking place ahead of a european council summit of all 28 leaders later this week. let's cross live now to our correspondent kevin connolly in brussels. there is a lot riding on this. for some of the actors at the summit and the eu, particularly angela merkel. i think that's righ

mhp is quite a small party, ultranationalist mistakes.hp is quite a small party, ultranationalist party they are also losing their votes to an opponent nationalist party so he is trying to look important and powerful in the coalition that he has had with erdogan so i think he is trying to show that he is important if him and his parties needs are not taking seriously that he will step out of it. ok, we will find out from tomorrow. from tomorrow, we will start to get the results coming in. i believe parliamentary elections also taking place tomorrow. thank you very much. the french president, emmanuel macron, has said eu states should face financial sanctions if they refuse to accept migrants who are entitled to political asylum. the migrant rescue ship aquarius has now been barred from all ports in malta as well as italy, according to the charity operating the vessel. of the mind of our headlines. tens of thousands of people marched through london to demand a vote on the final deal. senior cabinet ministers stress the uk is still prepared

it relies on the support of its main ally, the nationalist mhp.rward, the opposition can still play an important role , especially the nationalist mhp will be the kingmaker. they captured 11% of the vote, but will have significant clout over the ruling party. from now on, i think it is critical for the opposition to remain united. david: professor, an important role you say they can play, but will it change the course of the president? he's been there now for 15 years. he has more power than he's ever had before. yet the economy has deteriorated pretty consistently. guest: that is right, and the economy will play a key role moving forward. again, the ruling party and its been on the same page on many things, including curbing the kurdish power in neighboring countries and suppressing the rise in the country, but i think the turkish economy has been showing full abilities. if the country faces more economic problems, that alliance between the ruling party and the mhp might crumble. i think that will be a critical point for the opposition. i think t

it just means he might be , let's to some level of say interference from the mhp read -- mhp.ion-making, the new presidential post has more power. the parliament doesn't wield the same amount of control. as the government makes its new economic policy clever to investors, which it has yet to do, we will get a better sense of what element is going to do around some of -- parliament is going to do around some of those decisions. guy: yousef gamal el-din joining us out of istanbul. for further analysis on this subject. is it understandable that the lira and the stock market is trading higher? is that a knee-jerk or something else? >> that makes sense. under weights were neutral when they did the 300 basis point hike. in three months of a rate hike, turkey rallies 50% in dollar terms. it's done a third of that this morning. that was held back by the election uncertainty. a bounce on the lira and a bounce on equities makes sense. we were recommending getting a bit of the debt, as well. it makes sense to have some exposure to turkey. guy: how long has that trade on for? he started t

. $34 billion takeover of rival mhp semiconductors.he head of investment strategy come on european markets. this is bloomberg. ♪ mark: live from london, i am mark barton. vonnie: i'm vonnie quinn. this is "bloomberg markets." higher on aopping report last night that chinese regulators approved qualcomm's proposed takeover of the dutch chipmaker. abigail has details. deal initially was announced back in october of deal,a $53 billion on-again, off-again, based on regulatory hurdles. look at the chart that captures the trading action trading hours.r an announcement came out yesterday from the south china saying the deal was approved by .he chinese commerce ministry at 7:45 this morning, it was said the deal has not been approved, and then the stock came down. initially it was higher, than a dropped lower. -- well offse highs those highs, that to just sit is not going to happen. this deal was not approved. theident trump announced $50 billion of tariffs against chinese goods, and china came back and said they will likely do something simil

they will have to form a couldion with mhp, which have policy implications down the line.re looking for clarity on economic policy. this has been an economy that is overheating -- double-digit inflation, stronger reliance on external financing. we have seen the damage it has done to the turkish lira. it is not just a question of what they will do in terms of the economic team overall, moving away from the very liberal expansionary policies to more conservative austerity-driven measures, but the question of what happens with the central bank. you remember the interview that mr. erdogan gave to bloomberg television where he made controversial comments that hit the lira. thewill a short back up credibility they need to desperately in a time when emerging markets probably -- that is when investors -- what investors are looking for. turkish stocks are far away from the view percent rally we saw the early on in the day. talk to us about the central bank question. will we see inflation tackled, do you think? yousef: yeah, the dilemma is that mr. erdogan is no not to be a fan of h

lost seats in parliament but will still be able to secure a majority with the help of the nationalist mhpen dismissed or sacked from their posts. more than 50,000 were arrested. 90% of the media here in turkey is controlled directly or indirectly by the government. but president erdogan is adamant that turkish democracy is strong. and the huge turnout yesterday proved it. an interesting time coming up for turkey. the entire police force of a town in mexico has been detained on suspicion of being involved in the murder of a mayoral candidate. fernando angeles juarez was shot dead by unknown gunmen on thursday outside one of his properties in ocampo. he joins the long list of politicians that have been killed in the country ahead of elections on the first ofjuly. let's cross live to mexico city and speak to journalist juan manueljimenez, who joins us now. it seems an extreme measure, this, to get rid of 27 policemen, or suspend them. has it ever been done before? never. exactly the candidate for mayor was shot dead last thursday. now local authorities reported that all police officers of th

lost seats in parliament but will still be able to secure a majority with the help of the nationalist mhpe the failed coup in 2016 over 100,000 public workers have been dismissed or sacked from their posts. more than 50,000 were arrested. 90% of the media here in turkey is controlled directly or indirectly by the government. but president erdogan is adamant that turkish democracy is strong. and the huge turnout yesterday proved it. with me is ibrahim dogus, who is the director of the centre for turkey studies, an independent organisation which conducts research into the changing political and social landscape of turkey. home at change do you think we will see as a result? things will change dramatically. for the last five yea rs dramatically. for the last five years things have gone backwards in the country compared to seven or eight years of party government with the whole world was expecting to become a democratic society where things would have gotten much better. within the last five years things have gotten worse and i think the worst is to come in the next few yea rs. the worst is t

the presidential first round's, and there's a sense there are some checks and balance coming from the mhppartner within parliament, to hold back the presidential excesses. manus: one thing that caught my biggestis is one of the turnarounds in dollar positioning on record. we have gone from short to long. it is the biggest transformational move in positioning on record. the market has swung to such an incredibly long position on dollars. that has consequence for the next em leg, doesn't it? >> yes. we write a lot about the thesis around the tide is receding, and the global growth pattern is in a mature phase of the cycle. certainly that lays on the outlook for emerging markets over the next several years. yet, there is this bullish dollar move exacerbating the risk. at the same time, we would point out a means the dollar bullish cycle is further along than perhaps many anticipated. -- cheaper valuations in emerging markets can at some point trigger renewed inflows into the asset class. anna: which of the fiscal policies research -- concern you with regard to turkey at the moment? >> i thin

lost seats in parliament but will still be able to secure a majority with the help of the nationalist mhpe been dismissed or 5acked from their posts. more than 50,000 were arrested. 90% of the media here in turkey is controlled directly or indirectly by the government. but president erdogan is adamant that turkish democracy is strong. and the huge turnout yesterday proved it. in a moment the business news. first a look at the headlines on afternoon live. mp5 are preparing to vote on whether or not to approve plans to build a third runway at heathrow airport — the government says it's the biggest transport decision for a generation the fire—fighter who led the first response to the grenfell tower fire says he couldn't remember being trained on how to evacuate a burning tower block. the british couple murdered injamaica: the family of charlie and gayle anderson say it had been their dream to live on the island for their retirement. here's your business headlines on afternoon live. harley—davidson has announced plans to shift some production away from the us to avoid what it calls the "subst