greek investors, the stoxx 600 dropped the most since 2008 on monday.we saw the biggest gain since 2011 in u.s. stocks, followed up my the biggest today pop in seven years. volatility is back. have you ever wondered what happens when you walk away from $46 billion? will find out -- the swiss pesticide maker snubbed monsanto's latest offer. they were decidedly unimpressed after monsanto said it was no longer interested. then, our third chart -- crude. a lot of noise about crude rate before this happened -- a 10% pop in one session, the biggest day of gain since 2009. it is poised for its biggest week of gains since april. we are still pretty low, though, aren't we? that's almost it for this hour on bloomberg tv. we are joined now by manus friendsjoined by fra we mccraw -- francine lacroix. the question is whether this is the beginning of the balance from capitulation, or is rage and wei get back to volatility on monday? that was what we were discussing in the newsroom. somebody's got to go under the bus. --million people in china there are social ramific

now goldman sachs downgraded it's target for the stoxx 600 and euro stoxx 50. uncertainty is likely to continue for up to 3 months. goldman reducing it's overweight recommendation to neutral, separately in a blog post. the risk is low saying fundamentals remain strong. up and down, up and down. here we go with strong calls. the dow jones up by 386 points now and strong calls for the u.s. >> the new york stock exchange volume at 6.5 billion shares yesterday. the heaviest since october 2011. china markets continue their free fall losing 7.6% in today's trade. despite the sell off that we're seeing in china, investors brushing that off and foe cousin on the recent sell off in europe and u.s. and taking advantage of the buying opportunity. correct me if i'm wrong, at least from what i've seen over the last two weeks we haven't seen this divergence in sometime. they have been moving in tandem. >> yeah, there used to be a time when they didn't and then we started very much looking -- it's always the case of who do you look at. >> follow the leader. >> typically the u

the stoxx 600 down by 3%, the ftse trading below 6000.e are coming back a little bit but we are still down by 2.6%, and on a 10 day losing streak. the dax is down by 10,000 points, in bear market territory. the shanghai composite -- look erasing aown 8.5%, 60% rally for 2015. switch of the board and check out the other asset classes. morning,ger euro this training just below $1.15. we will talk about this in just a moment. crude is south of $45 a barrel for the first time since march, 2009. -- bloomberg commodity index march, 1999 was. unreal stuff. a 16 year low. let's get you up to speed up the top stories. the global stock selloff continues -- the singer composite down 8.6%, its biggest drop since 2007, erasing all its games in 2015. japan's a stock fell the most in two years, internet correction. the bloomberg commodity index slid to the lowest levels of 1989. results, after iron ore prices drop. the stock is trading down by more than 4%, the biggest fall since 2008. toyota shares plunge the most in 18 months after the company confirm

tui shares are near the top of the stoxx 600. it's confident underlying growth of 12 history to hit 5% to 15% in the fiscal year. the shipping firm plans to buy back up to $1 billion worth of shares. this after second quarter profits more than halved but were ahead of analyst expectations. the dutch insurer slumped near the bottom of the stoxx 600 after underlying earnings rose in the second half. lower than analysts expected. they also reported a drop due to negative market impacts. you can see the stock is getting hit down better than 8%. finally, thyssenkrupp is trading higher. they were posting a 37% jump in third quarter operating profit and up about 1.5%. >> let's have a look in on bond rate with the slight bounce back in equity markets today. a little bit of selling of the safe haven bonds allowing the yields and the likes of the u.s. ten year note and german ten year bund to rise. 0.63 on the ten year in germany. volatility continues off the back of these moves in the chinese currency. in general it's lead to u.s. dollar

we saw a 2.7% selloff in the stoxx last week.veryone's ears, we saw the dollar surged and we saw a bit of a comes turn about the exporters getting hit. today, a bit more tentative buying. a little more appetite for risk as we see a bit of a stabilizn

a stoxx whiplash. a huge surge lead in the day. with so much turmoil, will the fed still raise rates? we have the chart. factor. the volatility one bet most traders think will fail. alix: stocks rallying for the second day, joe, yes, but this was a very volatile trail. at one point, we had the dow up 350 points. we sold back. the dow was up only 100. now we clawed back almost 400 points. joe: we just had four days of extraordinary market action. five if you count friday, which was also dramatic. today was another crazy one. alix: i was thinking that yesterday. i'm so grateful i get to be in the middle of all of this kookiness to try to understand it or he julie hyman have highlight to put this market moving context. julie: i will try and do what i can ,alix. we had all of this volatility throughout the day, all of these with saws. when all was said and done, the s&p 500, the dow, the nasdaq the biggest days and two month. after the drop just after 3:00 p.m., things coming back and then some. i have the intraday chart of the s&p 500

the stoxx 600 down. the biggest drop since 2011. we are down by two percentage points. dax is down, south of 10,000 points. the pboc just can't stop the rock in china. epic swings -- another volatile session, the shanghai composite down by 1.27%. switch up the boards -- the euro kissing a january high just the other day, back to lower. germany down, brent crude down to $43 a barrel. let's get to the top stories here at bloomberg. chinese stocks fell again today, following the steepest five-day drop in nearly 20 years. shanghai composite closed down by one point 3% even after the central bank cut interest rates for the sixth time since november. chinese equities have lost $5 trillion since june, almost half the value. the alibaba ceo is calling on staff to ignore the plunging stock price, saying it's not the first or last time the shares will dip. he wrote a memo to 35,000 employees about a focus on customers. it was an intense session for u.s. stocks yesterday -- nearly a 3% rally on the s&p 500 crumbling in the final hours. that extended the losing streak to six straig

let's bring this up, the stoxx 600. stoxx 50 is lower as well. let's move on to that chart.ve got it down by 0.8%. quickly moving on to the bond market as well. what we're seeing here is continued safe haven buying. as a result of the low inflation trade. the deflation nary trade. even the ten year treasury yield is at 2.11%. that came on the back of the low oil prices but also the dovish fed minutes yesterday. the 10 year bund yield is at 60 basis points and quick check on the currency markets. we talked about the index overnight to the tune of 0.7% on the heels of the fed minutes. we have stabilize in terms of the u.s. dollar rate. euro dollar at 11116 and the pound just a tad lower on the back of the slightly lower retail sales at 156. >> we'll discuss millennial trends. how are the newest generation impacting fashion retailers and would you buy a t-shirt that los angless for 30 years? coming up right after this. shopping online... ...is as easy as it ts. wouldn't it be great if hiring plumbers, carpenters and even piano tuners... were just as simple? thanks to angie's li

stoxx europe 600 up. coming up, we hear from the chairman of charter communications coming up on worldwide exchange. >>> all right. we have a big market day on our hands. welcome you're watching the second hour of worldwide exchange. let's get you caught up on the headlines. china pumps more liquidity into money markets. this as one beijing official blames the fed for the recent market sell off. oil begins to reverse yesterday's obstetrical letter gain which saw wti reach highs not seen since march of 2009. digging in, investor carl icahn snaps up a stake

stoxx 50 down as well. let's look across europe and we're looking at the moment at all of them in the red. ftse 100 outperforming just below flat. germany and france down 0.4, 0.5%. let's look at bond rates. we've seen yields tick up a little bit over the first of august but we're still looking at 0.7% for the german ten year, safe haven buying going. 2% on spain. we have the u.k. at 1.94%. of course dovish sentiment coming out of the bank of england yesterday. quick look at it as well. 20 basis points moves each day. nothing too serious with just above 109 at the moment. sterling yesterday did have quite a weekday. only one of the nine members voting for a rate hike. people expected at least 2 or possibly three to vote for the rate hike. we only got one. that fell below the 155 handle being steady around 156 for the last month. a little bit of a sell off on sterling yesterday but today it is flat. now finally a look at commodities. monday and wednesday saw two big legs down in oil price and we stabilize ju

let's lift the lid on the stoxx 600.oline: let's look at one of the biggest winners, it is none tui.r than to a -- it is a europe's number 12 or one two or number operator. they are being more profitable because they are making holidays. aerall, second quarter saw uptick in profits. growth laterto see this year. they are managing to beat expectations. is driving upky 7.5%. we spoke to the chief executive, he has been realistically thing at china, he says this is a positive. he says overall this will mean more experts coming from china to the rest of europe, that is more profitable for the bottom line. overall he feels this is a positive step. off and wets were know the reason why, overcapacity. they are seeing dampening on freight as we see trade wayne off. overall they are managing to beat which were pretty poor expectations. they also had the $1 billion buyback. --thhile, this in group up 37%.pp is this is a company having to rayna back spending to boost their bottom line. no longer a steelmaker, they also make elevato

in europe, the stoxx 600 heading toward its

if we take a look at the euro stoxx 50, interestingly enough, the euro itself not moving a whole lot on the back of that news of that greek deal. perhaps that's suggesting a lot of this deal coming together is already priced into stocks as well as currencies. the euro holding on to 109. the euro stoxx 50, which is a good gauge of stocks across the eurozone, trading down by around 35 points. so, how do you make money in today's markets? of course, on the back of that greek deal, news, of course, also that china devaluation. well, here is what investors have been telling us this morning. >> it's going to take a year or two for reforms in china to come through. and there is this big shift from this big manufacturing base into consumer-led economy. and businesses like bmw and volkswagen, et cetera, they're obviously going to benefit from that ultimately, will continue to struggle until it actually comes through. >> the market is obviously looking at iran wondering what's going to happen next. how is the lng going to be exported? they haven't got the terminals. will they use floating lng

the stoxx 600 is feeling this.down to who is sending off the most, the companies exposed to china and asia. technology, our holdings, often by 2%. the biggest chip designer in the world, the designs go in most of our mobile phones, there is a key concern about china growth dragging that lower. let's look at the stoxx 600. it is currently off by 6/10 of a percent. we are seeing the stoxx 600 also enter correction territory. that means that it is 10% off of its previous ties. this is up 8% from its previous high, but we are lower than 10%, that means contraction territory. we want to see what happened to certain assets on the back of the manufacturing data. big move in the aussie dollar. we saw that despite lower. australia, a big resource of player. it feeds into china, one of its biggest trading partners. the aussie dollar will be affected by that. the continuing effect in the emerging market route is affecting currencies. we have been looking at the malaysian ringgit all week. it is losing value versus the dollar.

this actually is one of the biggest gamers on the stoxx 600.ope's second biggest makers of auto parts, but it has raised its target because of growth. lower commodity prices have helped it with low-cost. act to you. jonathan: of the big moves, greece is just opening up here that's after it slumped a percent in its first full day to of -- first full day of training and five weeks. he is the partner in group managing director of axial group. great to have you with us. opening a little bit higher this morning. a big drop yesterday. as i commend, the second day of trading, the question is how do i price some of these chairs? can you tell me? >> it is hard to say yet. it is a matter of having a lot of sellers and not buyers. it really affects the situation. we have to expect -- it will prevail today. jonathan: can you be more specific about the restrictions that are exacerbating this move lower in the last 20 for hours? what would your advice be to the regulators? >> there is a big issue -- the restrictions only apply to the greek retail investors.

we saw a 2.7% selloff in the stoxx last week. with china ringing in everyone's ears, we saw the dollar surged and we saw a bit of a comes turn about the exporters getting hit. today, a bit more tentative buying. a little more appetite for risk as we see a bit of a stabilization in china. we see the pboc once again holding steady, keeping that yuan at a steady level. yuanconomists saying, the can rise, it can fall, and we will combat both moves should we need to. the dax up 0.5%. big vote on wednesday. angela merkel trying to rearrange her schedule to get this vote through, talking potential debt relief for greece. trying to woo the imf to get on board with the third bailout being offered to greece. that third payment comes on august 20. we are higher across the board looking at the eurozone when it comes to equities. the euro is down against the dollar. we've got interesting data coming out of the u.s. later today. we got manufacturing, inflation, we also get fed president william, voting member, speaking on his view of whether h

in europe, the stoxx 600 suffering its biggest decline since 2008. the benchmark in frankfurt off 20% or more. stories, theities bloomberg commodity index, that ask it of metals off the lowest since 1999. west texas trading below $39 a barrel. let's take a quick look at treasuries before we get to our guest. the 10 year yield is unchanged. the two year yield, the change there is a little bit into the red that as julie mentioned, some folks are trying to find a safe haven wherever they can find it. we are in correction correction mode. olivia: investors very fluid with their bets on where they are going to raise rates. we are joined by the chief global strategist from charles schwab. always good to have you on. try to give people some sense of what is going on. the global market started feeling some reverberation from what was happening in china when it devalued its currency earlier this month. is this a continuation, or is there something else structurally going on in global markets? jeff: that's a big part of the fear. there is something going on in

one of the biggest losers on the stoxx 600.l bank of greece is the biggest loser, down as much as 30%. those greek banks have been absolutely punished with the opening of the athens stock exchange. it's the biggest loser among european markets, down about 1.2%. that's nothing compared to the 16% loss of yesterday. pimm: thank you very much. coming up on the bloomberg market day, hillary clinton's campaign launches its first television ad in iowa and new hampshire today. a lot earlier than she had probably planned. puerto rico defaults on its debt. one of the island top officials talks about how they can move past the current crisis. tenet healthcare comes out with her than expected second-quarter results and raised their four-year profit forecast. will hear from their chief executive. small businesses are being squeezed out by big banks. one company helping small businesses navigate the landscape connects small businesses to lenders through its online marketplace. the founder and chief executive of merchant cash and capital spo

. -- stoxx 600. ibex and of the athens stock exchange actually leading the losses in europe today. the athens stock exchange down by 1.2%. nothing compared to the 16% drop we saw yesterday overall. it dropped as much as 20 8% at one point. i just want to drill down a little into the athens stock exchange for you. this is the second day of trading after it was his end it for five weeks. there have been some restrictions, but look at this. quite spectacular drop. down for a second day. national bank also down. we have seen this happen impact on the stoxx 600. the equity benchmark for europe overall. i show you the distribution of industry roots here. a little more mixed than earlier. oil and gas leading the losses. basic materials gaining, up about .4%. i will show you financials down. of course we have seen commodities, oil, copper, gold rebounding today. that is probably why we've seen basic cereals impact there. a look at the u.s. averages. the earnings pulling and pushing the major averages. i did

the stoxx 600 fell by that amount in the month of august.gest monthly drop since august of 2011. every single industry group on the stoxx 600 fell in august led miningcompanies, companies, chemical companies. 16 billion euros valued disappeared from the chemicals industry. the oil and gas industry lost almost $60 billion as well. an astonishing and to the month. stocks are finishing lower. when will the fed raise rates? that is a big question right now. here are some big moving equities on this monday session today. french mobile telecom company reported weaker than expected first-half profit. it said domestic competition. cutsans to widen its cost in its transportation unit according to tito's people familiar a shareholder estimates a lower dividend for the year. and the italian oil company said it discovered a super giant natural gas field offshore. europe, as i said. 900 billion euros are valued and have disappeared. what is the best-performing stock in europe and august? the betting company up by 20%. players to merge. those are the deta

the euro stoxx 50. this is a good gauge of stocks across the euro zone. we have been seeing the euro hold ground around 109 and 110 against the u.s. dollar. right now thanks to the move in the german and french markets the euro stoxx 50 index up by 1.5%. >> 214 soldiers are on their way to the city of tianjin where a series of explosions at a factory killed at least 44 people according to chinese media. 15 hours on from the blast and fires are still burning on the site. concern is growing about the after effects given the nature of the hazardous chemicals used. kelly filed this report. >> reporter: a first blast had shaken the port city of tianjin just before midnight. then this. a massive explosion many times bigger than the first blast and a blinding white light. they see it and then they feel it. shattering windows and turning shards of glass into projectiles. images of the blast flooded chinese social media. a store front disappearing. a living room covered in broken glass. tonight local hospitals are overwhelmed with hundreds of injured. some burned.

the stoxx 600 is on worst for its worst weekly decline of the year. t 40.'the dax, the cap thet weeks of decline, worst weekly run since 1986 -- what are your thoughts? @markbartontv. that is where you will find me. ♪ mark: welcome back to "on the move." item mark barton. -- i'm mark barton. let's see how things are shaping up. stocks are on track for their 2015. weekly slide in tourname t where is money moving? we know asian markets have been sliding, we know asian currencies have been sliding. the euro though is up today against the dollar. the yields on the german tenure is continuing to decline -- look at oil. eight weeks of decline. that hasn't happened since before i was born, in 1986. yes, i'm lying. let's talk about german pmi data, just crossing. it looks as if manufacturing has risen, and it has increased. elliott, break down the figures. number --e have a 53.2 and anything above 50 indicates expansion. they really knocks that one out of the courts. in terms of expansion, it is not quite as robust as economists had expected, just missing by a 10th

in europe, the stoxx 600 heading toward its biggest single day declined since 2008. the frankfurt down by 6% right now and heading further into their territory. commodities are getting killed. the index trading at its lowest levels since 1999. in 16 years, west texas trading below $39 a barrel, trading above $38 a barrel. meanwhile below $45 a barrel for the first time since 2009. he just treasuries is one of the only places to hide. the 10 year yield traded below 1.97. more than $1 trillion has been wiped off u.s. equity markets. for more, let us get over to julie hyman. julie:. let us start with the doubt. the steep drop that we saw all right at the open is down more than 1089 point. a performanceen like that may of 2010. lows of the session here. take a look at the s&p 500. down the motions november of 2011 and the lowest since last october. in terms of the swing, although screen, small on your' it is the third largest since 2005. take a look at my bloomberg terminal. this is a cool graphic that one of my colleagues sense t sent t. this shows you pretty clearly th

the stoxx 600, every stock pretty much bar a handful has been declining today. you can see down 5%.e point today it was down as much as 8%. that is the biggest drop since 1987. it has had its worst day in four years. look at the industry groups on this benchmark, every industry group has been declining on the stoxx 600 today. oil and gas stocks leading that decline. utilities not far behind and also basic materials. all of that is to do with a commodity route that has been dragging this particular stocks lower. i want to look at national equity benchmarks. 13 out of 18 western european markets in correction territory at the moment. as you can see, no national stock index is actually escaped the selloff in europe today driven by those fears over china. the ftse 100 hit its lowest levels since 2012. the psi 20 is an bear market territory. the dax index was one of the best-performing indices at the beginning of this year. it is an bear market territory as well. germany with its export oriented economy is very much exposed to china. we have been seeing losses all across these markets to

caroline: two days of a selloff on the stoxx 600. we are likely to see stocks get that nudge higher, shrugging off the data we saw out of china over the weekend. exports down more than 8%. we are seeing worsening producer prices, but still m&a speculation in china, speculation of more stimulus to come. it might be helping feed into the ftse 100. cac 40 up 0.5%. we will wait for the ase in greece to open. will we get that deal signed off today for 86 billion euros bailout package? can the imf, ecb, european commission, and european stability mechanism managed to agree on a plan as well? greece. is there for let's have a look at the euro. we are basically trading flat. expectations were 225,000 jobs to be added. 200 15,000 jobs being added to the u.s. economy. you are seeing the dollar trade flat today. i want to show you the market reaction on friday when we did see that sudden spike higher when we saw that number come in ahead of 200 thousand. let's have a look at the commodity trade. the china effect. we are seeing copper pretty muc

o had two of the biggest inclines kleins on the stoxx 600 today. this is the picture for the week.een down today but it is up slightly on the week which is a very different picture to the athens stock exchange that has been gaining but it's down about 15% this week. it's the first week back to trading after the five-week hiatus. the restrictions that have been put in place has made it easier on local traders to sell rather than buy stocks making a rebound difficult on the athens stock exchange. the stoxx is 600 this week has been routed by better them -- has been boosted by better-than-expected earnings. this shows you that greek markets are getting more isolated than the rest of europe. pimm: thanks very much. coming up on the bloomberg market day, a new luxury norwegian cruise line is reeling in 1% -- vacation packages at the $100,000 price range. they sold out in one day and we will have details. guild group eyes chairman also has another big job running the aol venture fund which aims to invest in women led digital startups. she will tell us which companies she is investing in

on the stoxx 600, a sea of red. not one single industry group is rising.n the downside, minors filling eling the pain.e technology is selling golf. those exposed to asia, they are feeling the selloff. some of those who sell into asia. and look at the commodities. no wonder miners and oil companies are falling. $45 for thebelow first time since 2009. copper is selling golf. china, the second largest economy in the world, you see the selloff with the mining companies. copper is currently lower. if you're looking at fx, all about the recalibration of one people think the federal reserve will raise rates. it has been pushed back. if you look at the federal reserve futures, people think we were not see it in september. 28% think we will. they used to be a majority and now pushing it back to december. the dollar is falling. that means it you are seeing the euro on the rise and the dollar falling and the yen and demand. a look at some of the bond market moves. a search forg for safety. money moving into germany. 2% thely, the u.s., first time since april. meanwhi

the shares slumping to the bottom of the stoxx 600. >> the ftse reaching a 6 year low. glencore reports a quarterly loss but beats low bar expectations. >> you are watching worldwide exchange. let's take a look at european stocks at this hour. the ftse 100 the underperformer trading near a six week low. shares of the heavyweight mining companies continue to get hit by the drop in commodity prices. you can see the ftse 100 down better than 1%. the xetra dax down by 1.5%. the french and italian markets also seeing red across the screen. euro stoxx 50, interestingly enough we haven't been seeing a lot of movement over the trade. lower by around 1.3%. >> let's have a quick look at bonds. the u.s. ten year remains incredibly range bound by 2.15 and 2.2%. we're at 2.18 today. i wonder whether the fed minutes will lead to a big move in that. whether they're outright hawkish or dovish we'll have to wait and see. the ten year in germany is pretty range bound. 0.63 today. quick look at forex. the euro strengthened crossing the 111 handle on friday. it's bouncing back for monday a

the same is true throughout the stoxx 50. let's take a look at the continental markets and see how that performance is coming out. it is the ftse 100, laggard down 0.3%. continental europe, positive. germany up 0.25%. france up about 0.5%. let's look at the top individual with shares of alstom there at the top of the stoxx 00. up 5. % on reports the company is expected to gain eu approval for its support of ge. the sale for $138 billion will be the largest transaction on record for ge. shares up 5.5%, as i said. h&m shares up 1.25% after the swedish company beat expectations with a 16% year on year rise in july sales. this was the 10th consecutive month of double digit growth for the world's a second largest fashion retailer. hugo boss is up fractionally at 0.03% after it was said the company will expand its presence in china. now, airbus group is up 1..2% after the company says india's budget airline indigo has committed to buy 250 a-320 aircraft. the order is airbus's largest ever deal by number of planes. and we'll be spea

let's look at the euro stoxx 50 and also gains there and now to see where that's playing out. we're looking at gains up about 0.43 on the ftse 100 and it's a broad based half a percent of gains to finish up the week. overall, european equities still down this week. the likes of germany and france. really suffering heavily tuesday and wednesday off the back of the chinese devaluations. let's look at individual movers across europe. swiss life up 2.1% in the green after it reported a small profit in the first half. the company credits commission income for overcoming the strong swiss frank. bp is down half a percent after they manipulated the natural gas market in 2008 however the judge did not address the proposed fine or any other penalties of course. so no doubt weighing on bp. porsche is up 2% after prosecutors dropped a market manipulation probe against members of the companies 2008 supervisory board. what's next? >> coming up on worldwide exchange, big news for big bird. sesame street counts it's blessing as hbo kermits it's cash on five seasons of the show. plus hope and

islso want to mention what going on with the stoxx 600 in europe. on the chart behind me in my bloomberg terminal, it is down 13%. the stoxx 600 has entered what is technically called a correction, a decline of 10% or more. there you see the yellow line drawing of the declines that we have seen from this year's high speed i am looking at the events vix as well. it looks like it might be having a record up week. i'm seeing an increase of 88% on the week. -- talk aboutout options. joining me is mark sebastian. should i believe my eyes, 88% vix in a week? mark: let's not forget where it's coming from. that does not discount the fact that we have seen a massive move in the index. it amounts to we are not worried about anything to really elevated and getting near full unusual tode that is see in a three-day time period. julie: we are looking for signs that this will flush out or will it continue to arrive at a correction for the s&p 500, for example, or even a bear market? for aigns do you look at crystal ball prediction? mark: we will jump into the weed

francine: so, we are definitely in a correction for the stoxx 600.ll it technical terms -- it is zigzag. that brings us to today's twitter question. given the market rout, given all this zigzag and we have seen on the market, which central bank has the circuit breaker? is it the fed, is at the pboc? what can the ecb due to defend the value of the euro? manus: willow bay -- will they count for more q.e. for longer? i think it is hashtag trust. and there seems to be a lack of trust in the ability of the pboc. we are there. ♪ . . manus: shaken and stirred. after a volatile day of trading, chinese stocks extend the worst five-day drop since 1996. francine: no respite for europe. indices across the continent are in the red. anus: all bets are on. the latest consolidation to have gambling industry. good morning to our viewers in europe. good evening to those in asia. a warm welcome if you're waking up in the united states. i'm manus cranny. francine: i'm francine lacqua. this is "the pulse" from our european headquarters in london. manus: chinese stocks fi

the stoxx 600 wiping out 640 billion euros worth of value. futures are signaling yet another down day. switching gears. looking at foreign currencies. the euro is rallying at the moment. the dollar is dropping across the board. now reassessing when you will see a federal rate reserve hike. many are feeling it could be postponed. that is playing into the deflation story. that means that janet yellen could see ramifications across the world and feel that now is not the time to add to the destabilization. you are seeing old rally. this is where you are -- you are seeing gold rally. is also being the haven. yieldu.s. treasuries down. gold just coming down into the red today but it is on track for the best weekly performance so far this year. to leave you with one lesson across the commodities spectrum. the bloomberg commodity index had a 16 year low. think about the oil market. i want to leave you with what has been happening in the oil market. come up below $45 a barrel. this is significant. this is playing into brent crude. since march 2005. go

today, flat on the euro stoxx 50. of the other top stories and what you need to know. economy unexpected aborting -- unexpectedly avoiding a recession. contraction in the previous. that's in the previous period. -- in the previous period. -- aces that's tsipras's new -- new data shows last monday one in every seven human beings on the planet is logged into facebook. the figure is different than the numbers facebook discloses. that is counted over a 30 day. -- over a 30-day period. bank ofral reserve kansas city began its summit on thursday in jackson hole, wyoming. -- what issues are looming? brendan: the question is will the fed raise its rate in september? what i keep hearing people ask is what data? one piece of data is volatility, what we have seen in the markets of the last week. we talked to after george -- we talked to esther george. there's what she said. esther: we should expect volatility from time to time. of somen a period uncertainty. questions about china, global growth, and so we should expect volatility. what it means for monetary policy is not yet clea

the stoxx europe 600 off session highs but we're up almost 2.5%. this after stocks move sharply in the u.s. the dow getting better than 600 points. this after fed president in new york bill dudley says a september rate hike is looking less compelling. the fed set up a major policy move in the direction of hiking rates in september but given the weak economic data compiled with the weakness in china, that september rate hike hooking less likely. in fact, now suggesting december is look more likely. here in europe we break down the trade. the ftse 100 up 126 points. a lot of volatility over the past week. monday we were lower. tuesday we were higher. wednesday we were lower. on thursday we are higher. the xetra dax a triple digit gain here in germany. up 270 points. french market up 109 points. we'll be getting money supply data in a second. that could have an impact on the trade. italian market with a gain of 371 points following that positive session on wall street and asia as well. if we take a look at the currency markets interesting moves differ

stoxx 600 europe wide up 3.9%. making himself look worse instead of better after using the term "anchor babies." he try to justify using the term. many latinos consider it offensive and a it is more related to asian people who come to the u.s. illegally and have children. that sparks a new round of issues with asian leaders. raised eyebrows among federal regulators. company,his year, the twitter, -- twitter told the sec it would track responses to ads. the company is now not being investigated. and football season kicks off today. if you are mad about madden, the latest version is now on sale, madden 2016. draft fantasy and features and even lets you act like a franchise owner. it retails for $60. it sounds like a lot of fun. brendan: that, and there are now generations of fun in that $60. madden feels like it is as old as football now. vonnie: i tell you what is a lot of fun and probably fantasy in the markets, we are seeing commodities higher today on the news that china has cut interest rates for a 5th time. spe

every industry group falling on the stoxx 600. the pain was evident.ngly, so dark did it get, the irony that the europe suddenly becomes -- the euro suddenly becomes a haven. it is up 4% over the past few days versus major trading peers. we are seeing is doing better than the dollar, the yen, the swiss franc, the pound even. a bit of a recalibration. indeed, we are seeing the fastest growth in the economy since 2011. jpmorgan says it is time to buy. anna: thank you very much. germany's revised gdp is due out in just under 30 minutes. amid concerns about the german exposure to china. nichols is-- hans standing by for us in berlin. how exposed is germany to this slowdown in china? hans: good morning. there are two ways to look at it. it is the biggest trading partner outside of europe, but it only accounts for 6.6% of exports. it may not affect it that much. angela merkel felt like she had to weigh in on it last night. she said that she was confident that authorities in china would try to stabilize the situation. >> i am convinced that china will do ever

the stoxx 600 up to present -- up 2%. the euro, south of the dollar 10 -- 1.10.o sterling, down by 2/10 of 1%. the target -- gold is south of $1100. brent crude is below $50 a barrel. decent stock stories, let's get to them with caroline. caroline: this move is the biggest on record with this particular company. the world's largest ins i maker -- ins i maker -- numbers are not good. second-quarter earnings missed analysts estimates. sales growth goals brought down a bit. they could still grow anywhere up to 16%. novozymes worst performer on its record. dutch post also following -- falling. earnings were 12% below estimates. they are saying the strike affects are what hurt, 100 million euros in the second order -- second quarter from a postal strike in germany. both of these thinking -- thinking. column -- cobham is up 8.5%. it is merrily up due to an acquisition. this is a company that is changing itself around by investing in certain businesses. the interim dividend is up 5%. jonathan: thank you very much. let's get to the top stories. the bank of england will a

caroline: value being created. 220 billion euros added to the stoxx 600. valuations going back to.ill need another 300 billion euros to make up for the route yesterday. up by 2.2%. we were being pulled into a bear market yesterday. everything is up by about 2%. looking across each city in london. we are up 2%, pounds trading flat against the dollar. let's have a look at what is happening in germany. the euro is trading lower. the euro was seen as a haven in this route. the euro is coming up a little bit against the dollar. the dax is up by 2.2% the yield on the bond -- a last look at france before i take you to asia. paris is currently up by 2.2% and the euro is having a similar effect. continuing to see the eye of the storm happening there. we sell the nikkei dropped 30% and close lower in japan and china. the day was just as brutal. off by 7.6%. the concern about chinese growth and the lack of stimulus coming from the chinese government. let's have a look at industry groups. opposite picture from this time yesterday. everything is gaining. minors are trading that much higher. the

every single industry group on the stoxx 600 fell in august, led by oil companies, mining companies,al companies, 16 billion euros of value disappeared from the chemical industry. the oil and gas industry hurting. when will the fed raise rates? that is the big question right now. the french telecom company reported weaker than expected profits. cuts.ns to widen its cost estimate alders reduction in dividends for the year. a supergiant natural gas field off the shore of egypt and 900 billion euros of value has disappeared. what is the best performing stock? 20%.etting company up by there are the details. back to you. alix: thank you. ofre isno shortage speculation on when they will raise rates at the vice-chairman said that inflation is poised to move higher. china does notin necessarily translate to a hike delay. germany is on the phone is the weeking director, who last said the fed will forgo a september rate hike and raise interest rates in march of 2016. that note when it came out last week. i was very surprised by the revision after mr. fisher's comments and the weekend. do you s

finally, i just want to show you how the stoxx 600 is shaping up. up more than 1%. day out of seven. betty: goldman sachs analysts in -- t juliet: china's government has spent as much as 900 billion yuan in the past two months to prop up the country's ailing stock market. halfnjection amounts to the funds for market rescue. about 2.2% for the country's capitalization. it likely focused on the chips and domestic stocks in the government has another one trillion yuan to provide a cushion. today -- tonight, the curtain comes down on jon stewart's run on "the daily show" on comedy central. he has taken plenty of jobs on wall street over the years. jon stewart: let's begin on wall street. blurk.ex at an all-time [laughter] yesterday, the dow industrial fell 500 point, following the , lehmanbankruptcy brothers collapse. basically what happened, wall street investment firms were accused of advising people to buy billions of dollars in shares in companies they knew were failing. i believe the word for it is fraud. everywhere you look today, financial catastrophe. -- wallet

stoxx 600 off a one-month low. we have the stabilization.the biggest today two day rout since 2011. ftse in italy up almost 2%. in london --up a little. the only chart anyone has been looking at is .hat is the chinese yuan doing the people's bank of china cut the reference right for a third day. unchanged on the session. some soothing words from the people's bank of china. a rare news conference overnight . stabilizing a little bit as far as the chinese currency is concerned and stimulating, helping a little bit of a rebound in risk assets in the equity markets and bond markets. you had seen a strong bid for car government bonds, not just because of risk off, also the deflation bid. concern that china would export deflation. so you go to court government bonds. this morning, the opposite is true. in germany, up. money going into spain and italy. perforate performing well. periphery performing well. china and focus. greek gdp, who saw that coming? francine: it's a freak result. wedst all the chaos, sometimes saw growth. this must be tax recei

the stoxx 600 leading the gains. basic materials and oil and gas companies.doing particularly well. see what is happening with national equity benchmarks, for the most part they are gaining. ftse in italy the best performer out of western european markets. one outlier is the athens stock exchange, dropping for its third day of trading since the five-week hiatus. banks are leaving the losses. pireas thanked down almost 30%. a gauge of great banks has dropped to a record. that's how the equity markets are doing. rallying pound, against the dollar. it has been strengthening against most other major currencies. this comes ahead of super thursday tomorrow. this is wendy the bank of england is going to release a slew of data in one go, more bank.ny other central it is going to include the rate decision, inflation report. it's also going to be the minutes from the meeting happening today. sterling strengthening as traders have been getting more bullish on the timing of a rate increase from the bank of england. as recently as july 10, they were banking on august 2016

but the stoxx 600 across europe was not that affected. was up mostly on the and hsbcing the gains can which of course is the biggest bank in europe. they were up ever so slightly. and heineken had a strong report that said heineken up 5%. see the ruble really getting hammered, down almost 2% against the dollar. and looking at the story in government debt, germany trading mostly flat. the yield was down ever so slightly. it looks like the cost of borrowing from their german government will continue to remain low. hans nichols reporting from athens. coming up, president obama will lay out his plans to combat climate change. that is at 2:00 p.m. eastern. we will hear from one of his supporters, robert f kennedy junior. all fore is a voter for the top 14 republican candidates tonight. a gop strategist tells us what the candidates have to prove in this crowded field. endcalifornia has a plan to the automobile industry as we know it. could the golden state mandate mean that everyone will drive electric cars? puerto rico is on the verge of defau

most industry groups therefore down on the stoxx 600 as well.at what is across national equity benchmarks, it is pretty much losses across the board at the close. lossese 100 flat after earlier, of course. it has been a super thursday, a bit of an unexpected dovish start from the central bank with only one policymaker out of nine voting for a rate increase. the bank of england did, of course, cut its near-term inflation forecast. seeing losses pretty much across the board. the outlier, again, athens stock exchange. in a different way, it is gaining. not enough to make up for the route we saw over the past three are, but still, greek banks doing a lot better. they have been the biggest losers over the last three days. grease up about 27%. as muchseeing losses of as 30% a day. greek stocks in general, even though we are seeing these gains today, have lost more than 89% of their value since 2007. pimm: thanks very much. coming up on the bloomberg market day, cities around the country are considering body cameras for police officers. while more than

let's back to the stoxx and get the biggest -- caroline: let's look at one of the ones leading the chartbouygues. the reason is numbers. yes, sales can down by 1% for the whole company, but wait, telecom is doing nicely indeed. upping their profit target for the year. remember, it rejected the $11 billion offer on the table in june. it's charging up some 6% and reining in spending. the we will be going into detail a little bit later. asia is still a weak point china in particular and the u.s. is taking a charge on the week market their. -- go molto -- 5.3%.o up -- down second half, closure of the u.s. payments service. that will limit their year on year growth but they see double-digit growth for the full-year profit. are not liking the fact that they have miss this. hyde trying her hardest to find some red ink. europe's highest flying equity this year. it seems the equities from emerging markets. investors have been piling into the wind turbine which was the best performer on the stock 600 until now. new era has more on the story. talk me through. >> what we have seen is a drop of 22% s

mean -- iee what i want to start with axel springer , one of the biggest gainers on the stoxx 600 todaycome beat estimates. this was the company that missed out on buying the ft from peers. they would have loved to buy the ft but the $1.3 billion that nikkei paid for it was too expensive. the stock has been gaining. credit declining even though the second or profit rebounded. it did not get backing from regulators for a reorganization that would have allowed it to basically free up cash to an award investors. one of the biggest losers, national bank of greece the biggest loser down as much as 30% today. those greek banks have been absolutely punished with the opening of the asset stock exchange -- athens stock exchange. down about 1.2% today. that is nothing compared to the 16% loss of yesterday. chinese regulators making a fresh bid to stop a stock market plunge. haltedokerages have their shortselling businesses after the nation's regulators tightened rules to freeze out a traders. authorities are targeting spoofing, suspending 40 accounts including citadel securities. one of citadel's

let me just show you the picture for the week yes the stoxx 600 has been down, but it is up slightlyweek which is a very different picture to the athens stock exchange. that has been gaining today, but down about 15% this week, the first week back to training after that five-week hiatus right the restrictions that have been put in place, that have made it easier for local traders to sell rather than by stark. that is making a rebound quite d difficult on the exchange. the best earning season in six years at j.p. morgan. what shows to is that the greek markets are getting more isolated the rest of europe. mark: in asia the first major new listings the china's top market plunge made it a daily hat -- if the daily hate n -- meet its debut in hong kong today. >> thing debuted on the hong kong stock exchange to much fanfare. the chairman and cfo ringing the ceremonial call to start trading. shares were offered at $6.50 hong kong. it gave it a market cap of $55.1 billion in it is the first ipo listings and the stock market route that white trillions of dollars for mainland shares. mark: it

let's have a look at the stoxx 600 in terms of industry groups. yesterday, every single one was falling. today, entirely opposite. up 2.7%. we have added 200 billion euros to the market valuation so far this morning. and 300 billion euros is needed to make a for yesterday's rout. miners leading the charge, up 3%. across the board, opposite picture, as many people reassess what the fundamentals of this economy is. jpmorgan saying perhaps now is the time to buy. you've got raymond james saying local growth -- is where you should be. they are immune to the global rout. when you have profit set to rise 6% this year. ofn you have the likes european growth said to be the highest since 2011, should you see that dax in bear market territory? a nice city view for you. the pound pretty flat against the dollar at the moment. yields at 1.85%. let's have a look at how the dax is doing. the euro coming low. fascinating that became a haven. who'd have thought it? euro coming down today. yields at 0.6%. dax is currently high. asia still not changing. 4%. japanese

that adds to an already brutal year for the worst-performing stacked or on the stoxx 600. dropped to a six-year low. opec reported this week that output climbed to the highest level in more than three years. it is the biggest losing streak since january. let's wrap it all up. look ahead to what is coming up with manus cranny. what are you looking at? i'm looking at equity markets, a tiny rebound, the malaysian ringgit getting slammed. manus: i liked the chart you had on the yuan. it puts in perspective. i wonder about all the commentators that have said don't worry about it. it is a radical overhaul in terms of what you want to do with your currency. jonathan: it is historic. manus: it is historic. we got andrew sheets coming in from morgan stanley. we've got the piece out this morning that you can pick up written by sonia -- by svenja o'donnell. this is a former trader who runs a site who runs the -- who predicted the tories would be runaway leadership in the election. yn maysaying that corb not be the shoe in he thinks. join us for that. got periscope. is it toast? that