the scale is one-third of of the shanghai auto show. but many auto makers from china and overseas are taking part. the pr director has been involved in auto shows for over ten years. he and the organizers debated for long hours on whether to employ models following the banning decision by the shanghai show. they eventually decided on new basic regulation with automakers -- no scantily-clad women. >> he hopes that the nine-day exhibition will be a family-friendly event that appeals to everyone. esee, the model agency, is also trying to revive the image of models with a new project. >> it formed an idol group made up of seven of its girls. ♪ >> they are all in their early 20s and call themselves aio. when the girls aren't performing, they are fashion models, appearing in magazines and on the catwalk. their aim is to create more awareness of the work models do. the group only debuted in may but are already fully booked for the next three months. >> the pr rep has similar feelings. he wants people to consider the inner beauty of models and n

yes, that is actually -- that marks the bottom of the shanghai market. the chinese market back up to the 38.2 retracement level. where it peaked sunday night. guess what a 50% replacement. i mean, this is retracement. this is incredible. i mean, this is just a fibonacci fibonaccifibonacci nightmare. collins believes that the patterns can help go forward. we have a ceiling resistance at 4,066. that's 38.2% and a floor replacement of 3,383. from the peak from early in june. if either of the levels gets broke on the upside or the downside you should expect the shanghai composite to continue moving in the same direction for a few days. but if you want to get your head around what's happening in china, you need to see what's happening in the shanghai composite weekly chart. this puts things in perspective. the shanghai composite went from being basically range bound for ages. look at this thing. this is like nothing was happening. nothing. kind of a steady eddie rally in late 2014 to a crazy town style euphoric, parabolic, glow off in 2015. after the initial c

a .5% on the shanghai dare. 2007 in all of thousand seven and author markets in asia lower. over to europe you have some selling, pretty significant telling picking up steam 1.3% loss in france and germany. here in the united states you also see the selloff seeming to pick up about double the loss on the dow from where we started this hour. 56-point loss there. oil you have seen selling very down about a quarter -- 29 cents a barrel. again, maybe not worry about the global economy. goldstein is some love, people looking for safety. over to your currency commit to your opinion against the dollar now 110 and change. your 10 year treasury expect to see buying there. people nervous in addition to gold. right now let's go to sandra smith, "mornings with maria." we can't wait for the show. sandra: great watching it this morning. we will be seeing you in an hour. for the time being, good morning, everyone. it is monday. i am sandra smith and for maria bartiromo. with me for the harris fox business joe lang cap. proper b

back at the same levels on the shanghai composite and the index. it is a must as if that relief rally didn't happen. let's have a quick look inside and see some of those major movers. we are seeing quite a bit of selling coming through from some of the state players. we are down by 12% but also seeing a little bit of support which is different to what we saw during the last part of this yesterday. the selloff is really contribute into weakness across the agent region. markets in the red for a fifth session. 1% in japan and the selloff continuing. down 1.3%. australia's being hurt by the weaker commodity prices. investors are really giving that some down to that stake sale worth about $450 million, looking at china, shares down 2.4% at the moment. as i mentioned we are seeing good movement from petro china which should support the overall sentiment. shanghai, it fell by the daily limit of 10% on the shanghai composite. mining down seven point -- 7.09% today. rishaad: our top story is chaos in china or it just following up from what she has been talk

the biggest drop in 80 years on the shanghai composite. we will bring you more on bloomberg television. the big corporate story is in europe. ubs impressive earnings beat profits. equities rising to the highest in three years pre-the ceo -- in three years and the ceo is optimistic. >> i am confident both our focus on managing pretax profits and serving our clients and the fundamental growth cost -- prospects makes me confident about the future. jonathan: more with manus cranny who spoke with sergio ermotti. and join me is chris. the manus cranny, the surprise a day early. manus: so, look, the numbers have come out a day early. when you look at the shanghai composite am part of the discussion with sergio ermotti is how concerned are you. sergio said it is an opportunity to rebuild and did not directly answer. when he think of terms of ubs there a phrase that comes to mind, it has gone through substantial change. a bank not a position to say 30 billion euros do not make sense for us to have in our bank area take your deposit and goal elsewher

the shanghai composite down 14 point in the month of july. the biggest monthly drop since august, 2009. it has been a month investors would rather forget. decent month. we will break it down for the next 60 minutes. with the exception of bp, which posted its worst profit in a decade, they have beaten expectations. down 65% from a year earlier. we have been speaking with the ceo about the results. >> we attack the costs very early a couple years back, so you can see from our numbers that it is 41% lower in the comparable quarter last year. we have initiated a very significant program that started in 2014. of deliveringead the savings program for 2015. i think the idea is not only to whether the current storm. it is also fundamentally took him out of a stronger company once we have better development on the pricing side. >> can you update us on talks with shell? yesterday, and he suggested regulatory clearances were going quite well. things were going to be ahead of schedule. do you think this will close ahead of schedule? >> we are progressing

shanghai interesting enough, people probably know this but it is wurkt repeting the population of shanghai, the sate of shanghai population is all most the soim of the population of california so it a big city with a lot going on. i think the population of shanghai is 35 million, some think it is closer to 40 and the state is [inaudible] it is point well taken and try to be judicious about our time >> my last question to bring it home to theport and not for us directly but we have a lot of public private partnership and major investment project going forward, pare 70 and sea wall lot 337 and at some point these projects will require [inaudible] some of these may be look frg investment fund so maybe that is a opportunity down the road in addition to some of the maritime is facilitate if there is interest and in china generally there is intrest in real estate development as a way for them to also invest in the-i'll put a plug in from our side is coming from the china side to invest in the u.s. you never know the risk, but this is where since we are in a public private partnership there is be

the shanghai composite down 220 points. that is 6%. wn as much as a percent overnight. u.s. futures reacting right now. expecting a bigger opening for broader averages this morning the sec at the low to the u.s. in europe takes a cue from china. with the onset is carrie sheffield in the enterprise institute and around cheryl casone. we look at them momentarily. first the heart of the action. adding to the losses of the last three weeks despite ms. byatt regulators to stop the selloff. tracey chang lab in beijing on the ground. talking about more than $3 trillion. wipes out in the last three weeks. >> that's right. that's about 11% to 12% combined for 12 years. a really bloody day here in a shape. china stock crash has rippled across regional markets to the point no one is talking about race anymore. nikkei composite dropped 6% despite policy after policy trying to shore up confidence. let me remind you 42% of all companies on the shanghai stock exchange about 1300 companies really hoping to sit this one out until things calm down a litt

say the shanghai composite. futures markets are down. futures are down by six and six points. -- 66 points. a choppy day ahead. caroline: a third day of losses on the stoxx 600. cardiac arrest is what the london capital group said the expected for the stop market. awful by 0.3% in the u.k. but the cac 40 is up by almost 2%. we saw gyrations last monday risk aversion concerns. jpmorgan barclays all expecting base case scenario now is greece admits the eurozone. we wait half an hour to see how the greek market reacts. we are seeing greek debt selloff on prices falling in the yield rising 2.6%. we are at 17.25 percentage points. money out of italy and spain. the fear is contagion. 2.37%. we are up 11 basis points and a bit of a selloff. back in 2011, 7 .5% here. contagion under wraps by the ecb. the fact quantitative easing will be there. florida to the safe havens of the united states and german. -- flowing into the safe havens of the united states and german. yanis varoufakis, the finance minister leaves him his greek exit out of politics.

the shanghai comp is it swinging just the shanghai deposit swinging. -- the shanghai composite swingingweaker euro was the story for the last couple of days. one dollar --1 $1.1022. anna: think you very much. good morning to you. let us get to our guest. john, thank you for joining us. he was going through some of the stresses of a moving market today here it about greece and china. british business concern about those things. concern about a vote on grexit as well. grexit we have more uncertainty around the world. i can remember most of my professional life. it is a sing that that investment is not on pause. we are getting on with it, because businesses need to improve and grow. some good economic prospects out there, particularly for the british economy. i like the chancellor to outline the investment. particular a by growing companies. the medium-size companies in the economy. they are the heart of our recovery. they get that investment over the line. anna: the banks of very topical today. the news around barclays. very topical here at wes mr. as well. -- here at westminster as well.

the story in shanghai, 5%. half of the listed companies on the two chinese exchanges. 2800 companies. 1300 are on trading halts. everything moving is down. that is the story in the market. but the government has announced about an hour left a few things. let me go through each one. you first have the futures exchange. what they are doing, they raised -- they made a corridor to short the market. to give you an example, that margin requirement raised to 230%. the central bank has come out and said, we will do what ever it takes. the china securities finance corporation. now deploying half of what they said they would be needing. north of 80 billion u.s. dollars. they have announced 1.5 hours back they will be using about half of that. a credit line to hopefully provide some sort of capital. a lot of the collateral was held in stocks. beijing has ordered the big state owned companies. don't add to the panic selling. equity prices down. going through the roof. bond prices rallying. every single contract, china rela

the shanghai composite tracking the largest companies in shanghai jumped around 6% on wednesday. the recovery may be the result of investors going after cheap stocks. the ripples of the chinese stock crash and its effect on the chinese economy have investors as well as the government worried. >> following the drop in chinese shares even while the chinese government sought measures to contain the market. and while there is a lack of progress in the debt crisis in greece. >> traders in hong kong used the opportunity to buy up bargain stocks. they gained 4% of the afternoon recovering from the biggest one-day drop since 2008. >> the tremors from china have they been felt on the other side of the atlantic in new york? >> there certainly felt over here and felt worldwide. especially if you look at commodity prices, it is one of the big consumers of energy and commodities overall. the big question, resolving the the turmoil is on the chinese market. what will that mean for the second-biggest economy in the world? i was a on wall street, traders are even more nervous about was going on i

the shanghai composite going up by 5.5%. r weeks, we have seen to days of gains across the chinese markets. in the 11th hour, the greek prime minister alexis tsipras offered to be most of the demands by european creditors in exchange for a bailout of 3.3 billion euros. this time alexis tsipras is insisting on restructuring the country's debt. guy johnson and hans nichols are standing by. guy let's go to you. from the athens perspective what is changed? guy: as you said, this proposal was put forward on the 26th and was rejected by the greek people. alexis tsipras push very hard for a no vote then. the fact that he is now except in the bulk of those proposals must indicate a significant change of heart. we wait to see exactly what happens. this is like a significant climb down from alexis tsipras. he is potentially facing bankruptcy on monday. it is really a very difficult decision for him to make. it is quite literally the rock and the hard place. yes very little room for maneuver -- he has very little room for maneuver. they

the shanghai composite tracking the largest companies in shanghai jumped around 6% on wednesday. the recovery may be the result of investors going after cheap stocks. the ripples of the chinese stock crash and its effect on the chinese economy have investors as well as the government worried. >> following the drop in chinese shares even while the chinese government sought measures to contain the market. and while there is a lack of progress in the debt crisis in greece. >> traders in hong kong used the opportunity to buy up bargain stocks. they gained 4% of the afternoon recovering from the biggest one-day drop since 2008. >> the tremors from china have they been felt on the other side of the atlantic in new york? >> there certainly felt over here and felt worldwide. especially if you look at commodity prices, it is one of the big consumers of energy and commodities overall. the big question, resolving the the turmoil is on the chinese market. what will that mean for the second-biggest economy in the world? i was a on wall street, traders are even more nervous about was going on i

hit the shanghai stock market from the start. that's despite measures taken by firms to support share prices. the shanghai composite fell 5.9% finishing at 3,506. stock prices in shanghai had been surging since late last year. but they took a downturn in the middle of last month. the shanghai composite lost about 30% in the last three weeks. on the shanghai markets, they are looking for trading on the shares. more than 1400 companies have suspended trading or applied for a halt. they say it's an unprecedented move and involves more than 50% of listed companies. trading is normally suspended before companies make important announcements on matters such as mergers. market sources say more firms are requesting suspension to minimize the impact of plunging stock prices. investors are puzzled. >> translator: i'm totally disoriented. >> cnese commentators say the effects of countermeasures are only temporary and investors continue selling stocks they bought with borrowed funds. >>> chinese central bank officials say they're going to gi

three weeks ago today the shanghai index hit the. -- peaks. the size of the french economy. on friday the regulator announced using of market trading rules -- easing of market trading rules allowing investors to use homes as collateral. efforts were met with another selloff and again this morning. now the regulator is launching investigations into shortselling activities for stock index futures. the pro bowl farkas of -- you focusocus -- probe will on short-term manipulation. infront to stem the -- writing to stem the regulation, regulators are starting to look desperate. i want to give you the quote of that thebernard saying mood among investors is emerging on panic and it is extremely hard to call may bear in a rage. detail. more in the story. coming up we want your opinion on the event -- more details on the story coming up. we want your opinion on the events. ore miners on the way down, the slide set to continue. that is what experts say. the question is, how much iran or is leaving australia? .nd you have the answer, paul paul: 38 point 4 million tons, a record in june.

down over 8% on the shanghai market. caroline: this is phenomenal. this equates to $500 billion knocked off the valuation of the shanghai composite. $500 billion. equivalent to three children -- 3 trillion yuan. let's check on who the biggest fallers were. it was about the iron companies, the infrastructure companies. the worst performers off by more than 10%. we saw across the board miners sinking. those related to infrastructure sinking. it is a concern that the government cannot crop this particular composite up. steps have been taken. the imf already criticizing these moves, we understand according to people familiar. it is putting it back in focus. we were talking just a few weeks ago about a $4 trillion route that had happened across chinese equities. this sense of calm that prevailed over the last week has been shattered. a little bit of bad economic news. their earnings, industrial company earnings, were down in the month of june. when you are facing these economic woes the government can't prop it up. analysts and investors we've been talking

the shanghai comp is it is the big story. the shanghai comp drops another 1.3%. that is it for me. s the word for the rest of the morning. you can follow me on twitter. esta look for the rest of your day. -- best of luck for the rest of your day. ♪ mark: standard & poor's says greece may miss a debt payment as early as this week. in claims the situation is leading to a return of economic depression. that comes of that that cams as -- that comes as angela merkel warns of greece. shanghai selloff. china's -- as foreign investors head for the exit. ♪

the shanghai composite is down. d more than 8% amidst concerns the efforts to problems shares are unsustainable. crude prices slumped. bracing for low prices. bp shares have dropped. statoil second-quarter profits beat estimates. the oil and gas producer said adjusted earnings after-tax sell . -- fell. caroline is watching the market this morning. what have you got? caroline: a bit of a rebound after the bloodletting. continued volatility. we're looking for the ftse 100 to gain. a similar move for the cac. we are looking for an upward day in terms of equity markets. i want to focus on one stock in particular. today we can see it raised higher. it has increased outlook for profitability. that is up from a previous forecast. another big up raid. the reason? warm weather. they sold more clothing and are keeping at full price. they grew three and a half percent. >> caroline hyde with the latest. let's check in on a chinese session. chinese stocks fell. a commodities slumped. we have seen bloomberg commodities extend thei

the index. very quickly, analysts in shanghai said the state will start buying back the shanghai composite fallingelow 3800. lo and behold, we are below 3800. yvonne: we will see how things go. thank you so much. set shockwaves across the world. let's go to juliet. julliet: europe was waking up just this china was closing in all the selling was coming in. everyone in europe was saying what is going on? we saw the selloff continue. in fact, the biggest 2015 five they drop in the stoxx 600 is down 5.5%. you can see your basically follows with a lot of selling coming through. the american markets opened up and instead of focusing on the earnings and the start of the fed policy meeting, everybody is looking to the continued payoffs in china. we saw nine out of the 10 sectors in the dow jones close into the red. worries that this slowdown in china could start to impact on a lot of those auto companies under pressure. energy companies under a lot of pressure as well as they continue to see this selloff in crude oil. look at the u.s. index -- down for .2% in the u.s. into the asian index. we certainly co

reporter: the shanghai composite has been on the rise since late last year.bruary, it got another boost when a pboc cut the reserve by 50 basis points. the index continue to rally and by june 10 was up 61%, but back then msci stopped short. that was a peak. pboc scrappedhe the cap for the banking systems loan to deposit ratios. three days later, it made another round of customer interest rates. but stocks fell further. the shanghai composite continue to fall.over the past weekend were suspended. and the central bank announced further liquidity support for margin financing. by wednesday's opening, nearly half of the listed companies in china suspended trading. state backed china's attorneys finance announced they are seeking $18 billion to shore up markets. two hours later it announced it was extending a credit line to the country's brokers. state run firms were told not to sell their shares. angie: the year is not even have over yet. the chaos in china is having a big impact on mining stocks as fears of faltering growth ignited a $143 billion selloff. we have

the shanghai is coming back 1% higher following the last break. it is up 2.4% currently on the shanghai composite, and i want to show you how wild these swings have been so far today. we opened in negative territory and we saw the seller starting to come through, but all these efforts to try and stand these equity routes had the markets frozen in liquidity measures being pumped through. what else is helping is that we've seen a rebound in commodity prices, particularly copper. that has been helping some of the equity as well. there has been a big focus on hang seng up by 3.8%, a very good rebound. yesterday, the hang seng hit its lowest level since 2009. we see some great games coming through -- the hong kong exchanges up 10.4%. worth keeping in mind is a strong typhoon bearing down on hong kong. the market will be closed tomorrow if that typhoon gets to a category 10. looking at some of the stocks weighing on the hang seng it still has china mainland shares bank of communication shares and it is also quite week on the shanghai market. the other b

let's see if it is in positive territory on the shanghai. s to rebuild trust with creditors. alexis tsipras has tried to drive measures through parliament he has only rejected. maytics in his own party vote against the demands. there are protests appearing in the heart of europe. germany prepared to cut greece, which drew warnings from france and italy. we will have a look at what the creditors are offering. it is a simple take it or leave it, essentially? reporter: that is what it looks like. certainly, the proposal was put forward by eurozone finance ministers, including measures greece has to implement in three days. we covered everything from the energy market to the labor ,arket to the financial market included telling greece to transfer 50 billion euros of state assets into a london-based company for sale. the reason these measures seem harsher than anything that came previously is because the economy has deteriorated in the past couple of with capital controls. the measures taken that into account. creditors and eu leaders have really

call it the chinese route, the shanghai composite plunging. : and the former greek finance minister caught on tape area we will drill down the extraordinary -- caught on tape. we will drill down the extraordinary phone call. and six years ago, there was talk of a bailout, but now does itgolden state, finally have its finances in order? alix: you are looking at stocks falling for a fifth day. this is the longest losing streak we have

this is the picture in shanghai. we see another wave of selling away from those highs we saw on the end of may. the beginning of june, we saw strength all through the first half of the year coming from the shanghai composite. now we see selling, it is the strongest false and 1992. the securities regulation and china says it is investigating possible manipulation. across the market manipulation on shortselling, in particular. more details, as we go to the program. the u.s. markets are closed today. this is where they close out the week. this is the picture we got on the market after the jobs report, more moderate pace of job creation in the previous month. this is the picture factoring in there, the limbo state we seem to be in regarding greece. we will be speaking later on here at bloomberg to the founder he will join up a little bit later on. stelios will have a lot to say on the greek story. two days to go until they vote, it is too close to call. guy johnson is in athens hans nichols is in berlin. guy, how are thin

the shanghai comp looks about 10 times greek gdp in 10 weeks. t that for you after the break. ridek ahead to a rough that could be this weekend as greece goes to the polls. ♪ i am allergic to extending and pretending. >> if there is a yes vote, you will not be finance minister? >> there will not be a yes vote. >> you won't sign a deal without debt reorganization? >> i'm prepared to cut my arm off. jonathan: they were some of the highlights from guy johnson's brilliant interview with greek finance minister yanis varoufakis. you can find that on bloomberg.com. keep it right here on bloomberg tv throughout the weekend. we will bring you special coverage of the greek referendum. tune in for that. let's wrap up the week. while your holds its breath -- while europe holds its breath, check out chinese equities. a crazy three-week plunge as wiped out about $2.8 trillion of market value. that is about 10 times greece's gdp last year. that brings us to our next chart. greeks are split right down the middle. a bloomberg poll shows 43% intend to vote no. 42.

and that's they correlation with the shanghai composite. correlate more to the chinese economy rather than the stock market percent? -- stock market per se? mike: he found that the s&p 500 and the shanghai composite are the most correlated they have been since 2013. it is clear that we are moving a little bit more in lockstep with china but far from 100 percent correlation. as you point out, the real question is how much damage will this stockmarket crash due to the actual chinese economy? which arguably, the u.s. market could be more heavily correlated to that. they are still looking for a lot of trickle-down, barry pessimistic -- there he bank pessimistic. if the government can't stop the flood, we don't see a lot of government put. mike: they were vary supportive chinas equity market and was above 14% per year in 2007. now it is forecasted below 7% for this year. the question is, well, if they can't keep the stock market propped up the way they wanted to, does that make you lose faith in that? putpeople's bank of china is now in question.

if you look at the top 100 shanghai composite stocks, the median multiple is about 15 times. it is a big difference between what we saw with the rest of the group. the divergent overall, versus asia, as well as the rest of the pack, is starting to emerge. it creates interesting time for global investors to rethink china. we have a chunk of this work up continuena, and will to dig into these dynamics. at all theseok market gyrations coming up. we want your thoughts. concerns about slowing growth in robot makertrial down by almost 7%. the lowestlly down in nearly seven years. has a look at this, and it doesn't seem like there is any optimism coming through. shery: it is down almost 12% now. chinampany is blaming because it keeps slowing demand for factory automation. the city future of the chinese market is uncertain. the robot maker says income of probably $1.3 billion. a 70% lower than it april forecast. it also trails estimates. lower than it april forecast. it also trails estimates. the company has about a billion and stockpile cash, the japanese companies in general want t

the typhoon is expected to make landfall south of shanghai saturday. e city could be in danger from storm surge. most of shanghai is less than two meters above sea level. out, a typhoon is expected east of japan. president obama is turning pessimistic on a nuclear deal with iran. briefing senate democrats, he repeated he will walk a way from a bad deal. negotiations continue in vienna. the biggest remaining differences are the demands for an immediate lifting of sanctions and agreement on new punishment. market wise, equities, a bit of a turn up in shanghai. 2.1%. moves quick to the volatility will not go away. hang saying, 20 seconds ago, up 3.4%. we are approaching a 3.9% gain. taking back some of the big losses wednesday. let's take a look at oil. rout and turmoil in jeff, great to see you. what is more important. the turmoil or possible deal with iran? jeff: there are a lot of things going on in the near term. if you look at the movement in the oil market, there has been a large change in expectations. from the back of the curve. the price expectati

the shanghai composite is at its lowest level since march 20. than $3.2 trillion have -- has been wiped off of the value of chinese stocks in less than a month. despite efforts from state run legislative firms to buy shares. caroline: oil prices are stabilizing a little after crudes the is declined amid signs today that the deadline for a nuclear deal between iran and the west will be next. iranian officials says an agreement that could lift sanctions is not assured even as differences in the negotiations in vienna continue to narrow. oil is trading at its lowest level since april. there is a deepening debt crisis. ryan: let's get more on the talks going on in vienna on iran's nuclear program. elliott has been following the developments. are we going to get a deal? elliott: no deal yet. probably we'll not get one in time for tonight's extended deadline. negotiators from world powers. there is some called for optimism. chinese foreign minister is telling reporters that a comprehensive agreement is in within reach. john kerry urging people not to

we saw a 6% drop in the shanghai composite. ng about what is going on in the chinese market. if you want to traded in the u.s., this is one of the vehicles to do it. people are still selling. we'll see what happens in china tomorrow. also linked to china, we have a number of companies in the united states whose revenue is dependent on china. yum! brands is one of them. half of its revenue comes from china, if not more. it is down 3%. yahoo! also falling today. we saw it fall yesterday, along with alibaba. alcoa is also linked to china, at least in part, as so many commodity companies are, down 2.7 percent. it has been declining leading up to earnings. alcoa has been trying to shift revenue mix toward engineer products, stuff you make from aluminum versus melting of the aluminum itself. we will see how that business is doing. they also bought a titanium company, so analysts will be looking for an update on how that acquisition is going. they are also predicting analysts, that is, that revenue is flat last quarter. we will see if

look at the shanghai comp positive -- the shanghai composite.r the market to finish in the green, suspend trading and tell the stockholders they cannot sell stock for six months. do you think that is sustainable? back to you. manus: thank you. let's go back to george and the united kingdom. he set out his most radical budget yesterday at lunchtime. putting the whole thing in context, richard jeffrey. jane foley is still with me. thank you for coming in. it is interesting. he cuts the forecast. he decided to smooth the path in terms of austerity. what does it mean to you having to listen to it? >> there is the package that george osborne presented and then the economics forecast. we take the economic forecast a nice description as they are very benign. growth average is 2.4%. next year, a goes down to 2.3. a benign outlook. that is true through the forecast. inflation below 2% until the forecast period. at some stage over the next six years, we are going to get disrupted by something we cannot foresee. maybe that gives something to think about in

the 3.5% pop off on friday for the shanghai composite. eeing a bit of weakness at the start of trade. checking in on property shares. zeb will talk about this in just a few moments. it is worth noting -- some great day to hear from our great data here from our colleagues. you have a lot of inventory there that these developers will have to go through. real estate up 4/10 of 1%. earnings unsurprising, 255% pop year-on-year. first-half net income, down. an upgrade from ubs to neutral. macau casino share expecting a first-half net loss. the stock is suspended. it.let's mention it's a bit funny. there was a declaration of a dividend. it was 100 times more than it should have been. kong.hong spot 80d have been 1 hong kong cents. do they have to stick to it? ise, they would have wiped away every single piece of retained earnings if they had stuck by it. the stock is suspended today. rish, back to you. rishaad: our top story, china's improving property market has been a longtime favorite of local investors, one of the few ways people could get so

the u.s. imposing more regulation that help push to shanghai and accept nearly 6%. a live report from beijing. the rally in china lifting u.s. stock market futures after yesterdays steep selloff. are pointing to a higher open on wall street. looks like a software update was behind the nearly four-hour shutdown at the new york stock exchange. the latest on the boards which they experience the deadline for a greek deadline looms as greek citizens become more desperate for cash. a live report from athens. i'm sandra smith joined by lauren simonetti and nicole petallides. welcome to "fbn:am" come your first look at what is moving in today's market and what you need to expect that they had. you are down at the new york stock exchange all day yesterday covering this like nobody else in financial news. what is the latest? nicole: will things be okay going forward? do you have to worry? dream to you are working on a plan to speed up movies. transfer watching the big days at home after the big screen. sandra: new regulations by the government helping fill a big comeback for c

in asia the shanghai market gaining two tenths of a percent. rkets finishing to the downside. also looking at europe responded to some weak corporate earnings coming in. the ftse 571 points or a drop of 1%. at home stock index futures pointing to its other open with dow futures at 76. nasdaq futures things to weakness in technology off a full percent. gold prices continue to sell off another $10 this morning. inching their way towards a thousand dollars an ounce. a lot of cars out there for that to happen. meanwhile picture jacob degrom struck out the side on 10 pitches. he struck out the he struck out the first national seesaw last night. eight overall on the way to a 70 to win. eric campbell's two-run go-ahead in the seventh inning was the vacated the night. new york cut washington's lead to two games in the national league east. end quote by the tennessee titans and marcus mariana have agreed to contract terms. more than $24 million over four years but they $16 million signing bonus. the highest trophy winner from oregon with a number two pic

jonathan: the gambling shifted from the casinos in macau to the casinos to the shanghai composite. the casinos in macau, what is the story? richard: it could be that macau is finally coming in from the cold after being frozen out by the chinese government who was determined to crack down on the illicit gambling not in the casinos, but there is a lot of money being funneled through their. they crackdown on be says -- abuses -- they created huge rallies, more than 10%. if you compare them against how much they have fallen since 2013, it is still a marginal rebound. casino revenue we saw plunge and another 35% or so last month. they took it back to levels last seen in 2010. there is a little bit of hope. maybe the stock investors in china that saw the stock market as heaven, maybe they will start heading back to the roulette table. jonathan: richard frost, the man with the hardest job trying to keep up with the shanghai composite, thank you. let's welcome back stuart richardson. i asked if the officials lost control of the equity market typically is not a question to asked, but it feel

we have a broader picture in the shanghai markets. they extend the kleins now. now.e declines we are seeing shares slightly up after dropping 1% yesterday and is down, facing pressure out of the five-day rally. let's talk about black rock and the new headlines coming from them. they see share prices driving higher and the stock prices are not impacted by the economic outlook. let's take a look at the aussie-dollar. it went up after the news came out and you can see that it extended the gains and strengthened to .74 cents. we are seeing positivity here today. it is doing pretty well the last couple of sessions and it is up .5% right now. muchseng is flat with not reaction. rishaad: thanks for that, yvonne. that theig story is bank of japan is concluding a pricing meeting and we have signs that the economy is in a soft patch in the second quarter and we have been examining that. not much expected, in terms of rates. even monetary stimulus looks remote. .> absolutely, rishaad we have the inflation number at 0, at the moment and. on theus will be language and there

the shanghai composite adding to the losses as of late.n since the highs that we saw fromne 12, coming authorities moving to try to increase margin lending and also make it cheaper for people to trade, as well. taiex and taipei slightly higher, the straits times and likewise. when it is an andy warhol dollar, it is in 1962 work. for $32.6 million in subsidies in london, beating presale estimates. ♪ ♪ ♪ ♪ get excited for the 1989 world tour with exclusive behind the scenes footage, all of taylor swift's music videos, interviews, and more. xfinity is the destination for all things tayloswift. referendum, pulls in greece show increasing support for a yes vote. allow7% of voters would more austerity, 43% would say no. australia has posted a trade deficit for may. the april deficit has been revised above $12 billion. exports rising slightly. there dollar weakening only slightly on the release of that data. new margin trading goals were no longer require rocher urges -- brokerages to cut transaction fees by 30% as of next month. here is david. i

the shanghai stock change has recovered early losses and is up 1.3%. the nikkei is down and hong kong's hang senning is up by 3.5%. -- hang senning is up by 3.5." >>> my colleague spoke to the vice president of fontius strategy group. he said a lot of individual investors, like pensioners have a lot to lose. >> this is not a story just of the stock market drop. you have to think of winners and losers and the other what is going on in the real economy. in terms of the winners and losers it's been an abrupt drop since the mid june high losing 30-40% between the shanghai stock exchanges. and that is at the level we are at 70% up from where they were a year ago. there has been gains from the investors that got in early. the economy story that people need to be concerned about is individual investors, usually in china. not sophisticated and a lot of pensioners that got in late. they joined in in march, april, may as the move up in the stack markets became evident. they saw the move they wanted to get on the bandwagon and may put in 50, $60,000 what is the bu

were down byanies around 12% on the shanghai composite yesterday. u can really see over the last month, we have had those really big dips coming through in the overall index. the biggest u.s. chinese traded fund was down 2.5% overnight in new york. that is extending its losses to june 12 by around 22%. the bloomberg u.s. china equity we track was down 5.1%. that is a really big drop we are seeing coming through. we can see this is a bit of a red flag for confidence coming through in overall mainland stocks. angie: a red flag for china. what else can the government do? iette: we are seeing new measures coming through from the bank of china. a suspension of i videos, support -- a suspension of ipos, brokering money back into the system. pumped through liquidity from china securities finance core and even this does not lift finance confidence. they are worried about the savings of all these chinese investors and he wants to shore up confidence to make sure there is not political unrest. angie: we saw the extension here. te: eight shares following the ro

the shanghai index that 3%. a lab report from beijing. twitter to open lower after the micro-blogging company says that stalin. a different story for mark stucker berg and facebook. the great expectations for facebook profits. investors waiting for the latest in the latest of the federal reserve and their outlook for the u.s. economy and interest rates. we will tell you three things to watch. microsoft to watch. microsoft rolling out windows and to millions of computers. it's free but do you really need it. checking u.s. stock futures ahead of the opening bell on wall street this morning. chris harris across the board. dow futures of 34. good morning everyone. i am sandra smith joined by a train five and lauren simonetti. this is "fbn:am," your first look at the breaking is and what to expect that they had good stocks in china snapping a three-day losing streak of more than 3%. a live report from beijing coming up. let's check in on the next action overseas. hang seng, shanghai composite to the upside. me can coast me down. in europe the p

good luck for the rest of your day. ♪ manus: shanghai surge. the biggest one-day gain since 2009. the chinese unveil more market boosting measures. midnight deadline. greece scrambles to pull a plan to keep the crisis-hit nation in the euro. contagion concerns. fears over greece and china. today's bank of england rate decision will discover whether carney has pulled an acute greek risk.

quite the selloff, shanghai composite losing 8.5%. some says it's panic selling ahead of the fed rate. european markets following asia also lower, remember we got that better than equity the ifo data. that's german business sentiment signaling there is improved mood across german businesses up 108 for the month of july. one of the reasons we're looking at the xetra dax down 0.8% in today's trade. >>> teva has announced plans to acquire allergan's genericic business for $40.5 billion. it will be financed through a mixture of cash equity and debt. shares in teva are called to ep up over 11% in new york. keep in mind allergan ceo brett saunders will join cnbc "squawk box" at 6:30 a.m. eastern. you won't want to miss it. earlier, i together to henderson's matthew beesley. take a list ton his reaction of the teal. >> this is a good deal for teva. this goes to 20% in 20 years this gives them a lot more size and scale in the coming years. there are efficiency benefits for distribution. yeah this is a good deal tour teva. and it relieves all t

you had the main stock exchange in shanghai plunging 6%. jor selloff on wednesday and leaping almost 6% today. this coming after the markets here have plunged since june 12th. since losing $3 trillion of value. some 30% of the value of the entire shanghai stock exchange since that time. a lot of chinese investors were attracted to this market over the course of the last year when it was the fastest growing market in the world. so you had more than 800,000 people opening stock trading accounts here in china in a single day. they thought this would be easy money. that they double their money very quickly. instead, many people who did not necessarily know the rules of the market and who borrowed heavily to buy shares are now finding that their savings are going up in smoke. could today's jump in the markets, could that be a sign that big efforts by the chinese government stop the crash succeeded? the chinese government announcing plans to buy tens of billions of chinese shares. they usssuspended ipos. they announced they will investigate people

rachel: the shanghai composite getting absolutely obliterated here today in china, falling 8.5%, the largest single they lost the 2007. we saw heavy losses across the board in every sector, 75 stocks falling for everyone the rose. the shanghai composite has actually seen a rally for the last three weeks things done presidents and support measures by the government. but today investors clearly indicating they are not confident that a full market will return. many of them looking to cash in on profits once the market moves back above the 4000 level. but it did fall well below the 4000 level again today. we saw the market rebound, we've seen that since it hit bottom on july 8, but again, half of that just today in this one session we lost. alexander: we saw the government stepped in to try and calm down these markets. is this not working anymore? rachel: we saw the bubbles are to burst in mid-june when the markets peaked at 5100 and then 100 50% over last year's volume at that time. and then we start seeing wild swings day today with market up and then down in the government steps in wi

manus: the shanghai slump continues. chinese equities suffer their biggest three-week rout since 1992, sparking a government investigation into possible market manipulation. francine: megamerger. u.s. health care benefits giant aetna. agrees to buy the second-largest provider for $37 billion. welcome to "the pulse" live from london. manus: let's give you some of the breaking eurozone data. francine: it is pretty much as expected. june services pmi data rising. it is exactly what we were expecting. the focus now on greece. with just two days to go until a referendum on european bailout proposals, a bloomberg poll shows that the country is decided -- divided right down the middle. manus: it shows 43% are set to follow prime minister alexis tsipras and vote no. 42.5% will vote yes. this comes as the imf says the crisis-ridden country needs 60 billion euros of extra funds over the next three years to stabilize the economy. we are joined by erik schatzker in athens and hans in berlin. this poll shows it is too close to call. o

at closing the shanghai composite lost nearly 1.7% on top of yesterday's more than 8% decline. in hong kong the hang seng defied its mainland counterpart to finish in the positive. it was up 0.6%. other markets in the asia-pacific region show a mixed picture. in australia, the s&p asx 200 index close lead slightly lower, down 0.1%. worries about china's economy were mitigated by a strong performance in china's energy sector. the south korea kospi remained fairly flat as the drop in the shanghai composite wasn't so big as monday. index heavyweights like samsung electronics and hyundai motor helped pull the index back. tokyo was no exception to markets being tossed around by the sell-off in china. our business reporter gives us the details from the tokyo stock exchange. >> benchmarks in tokyo were pretty volatile tuesday as many investors became worried about a slowdown in the chinese economy. the nikkei 225 ended down 0.1% at 20,328. at one point, the index sank to a two-week low but recouped some losses in the afternoon as the shanghai composite began to recover to some extent.

the shanghai composite ending down 8.5% with hundreds and hundreds of stocks halted during the session in order to stop the bleeding. >>> president obama to address the threat of terrorism in the region. one day after a deadly bomb blast at a hotel in neighboring somalia. the president also speaking out against republican presidential candidates who attacked his policies over the weekend. we have the latest in this war of words. hey, china's markets are set to open in less than 6 1/2 hours. so let's start the "countdown." . liz: breaking news. china chewing up wall street after demonstrating a week of stabilization thanks to massive government intervention. last night a freefall so severe, it is affecting our markets negatively right now. spin it forward, 6 1/2 hours away from the hang seng in hong kong and the shanghai and shen gin indexes opening again. what can u.s. inspectors expect the day after the huge fall. how will it impact your money. we take it to the traders watching and waiting at trading floors around the nation and gerri willis. scott, to you first. what do you think ha

and the secondne is the shanghai stock exchange and bubble burst. so i think we need to prepare to manage the risk. first is the market risk. the second is the political risk. and finally i want to emphasize the social risk. because social risk makes chinese society go into turmoil. it could be you know very sad tragedy for the region. >> now, we're going to have some gdp data out of china next week i believe. >> yes. >> surely these numbers will play into that. how do you think the government will have to deal with that? >> well i think chinese economy is still in a nervous situation because much of the driving force is very weak. especially the fixed assessment. so i think the government need to do more to stimulate private consumption. but they postponed the secret service systems refirm. so this is a very very you know delicate situation for chinese economy. >>> and now for a check on other markets. investors in tokyo took some relief from the movements in shanghai and helped the nikkei reverse course. the index was down more than 3% at one point

a novelty in asia, the shanghai composite. >> it is a bit of a novel they. we do like to see green on the screen. you mentioned a big rise coming today. that is the first time we have seen asian stocks higher in six sessions. the composite looks like it will close high, a wild day on the composite. at one point it was a negative territory. the hong kong index adding to yesterday's gains up by .5%. just really a is up by .75% japan in the nikkei is down by .1%. i want to take you into the actual shanghai composite, as i mentioned it was another wild the day. it will close higher, some particularly good movement coming there. technology stocks up by 6% and industrials were leading the way. still a little bit of weakness because of those lower oil prices, but a much better look in asia here. which of the first gain in four sessions for the shanghai markets. anna: thank you very much. what update you on a move in the fx market. what you listen your screen is a stronger russian ruble this morning. the russian central bank has halted operations to replenish fx and