thyssenkrupp trades higher in the light of its submarine sales. the movers today in this changing market. interesting that we have seen gains of 1% and now we are looking at losses of 1% on some indexes. bloomberg television. next is "surveillance." i'm headed to radio. tune in on london dab digital or find bloomberg radio on the internet. this is bloomberg. ♪ andcine: chancellor merkel president macron back with a deal for the european countries. positive results in a potential vaccine raising a $1.3 billion per share cell. powell prepared use the full , they willhe economy have negative by year-end. this is bloomb

>> actually, i think it is the most radical overhaul we have seen in the history of thyssenkrupp they are potentially saying goodbye to the business they were actually coming from and where 200-year history is based on the steel business. steel no longer is core. they are looking at various options. literally all options on the table for their steel. >> apparently, there is so much pressure on management to turn around things. they are saying the coronavirus has overhauled the whole strategy so whose interest? various bidders said to have interest also there is a german solution, which might be favored by some major share holders also on the table. i guess they look at everything. they need to get the deal done as soon as possible so the most feasible, the fastest will be the one which is going to be done the same holds true for war and marine business. they are looking at partners they can keep it in-house. they will go into action to sell the majority of that business. essentially, there are three units which remain in core, material, science, automotive. nothing more that accounts

thyssenkrupp is looking to revise that effort to merge that division with a rival. take a deeper dive into today's market action with kailey leinz. kailey: clearly it is a risk on day. when you look across asset classes, the ones that are outperforming our the riskier commodities, like copper, higher by 3.3%. you are not seeing a bid for the safer havens, like gold, down 1.3%. yields moving higher on u.s. treasuries. volatility relatively subdued 28 handle.x at a you mentioned oil. i want to take a longer-term view on wti. back above $30 a barrel. look at how far we have come from the may contracts. oil has rallied 129%. contract caused futures to go negative last month. that does not look like to be wticase tomorrow for june contracts. that supply-demand balance looking a lot more balanced today. i want to show you how broad-based this rally in the equity market is. all 11 sectors higher in the s&p 500. the ones that are lagging our consumer staples, defense, health care, the ones that were benefiting from the coronavirus shut down. financials, industrials are near

droppingng around point 4% here inin paris the dax in frankfurt was pulled down by industrial giant thyssenkrupp that we saw it shares plunged. 15% on weak guidance for the year gains of around 1% each game at london and the lawn what street is closed down after some strong gains over the past week it was a loss is gaining momentum in the final hour of trading the dow jones closed down over four hundred and fifty points. at the s. and p. five hundred nasdaq down about 2% each boeing shares were down nearly 3% aviation giant said on tuesday that customers that cancelled a further hundred and eight orders for seven thirty seven max planes that will add to its financial trouble. oil prices meanwhile rose slightly so us wti up nearly 7% settling in just under twenty six dollars per barrel this just after that saudi arabia confirmed it would be further scaling back its production by about a million barrels per day. he needs oil giant aramco or get 25% drop in its first quarter profits that's even before oil places prices plummeted last week months and negative- the head b. p. meanwhile as we speak to

seeing negative news from thyssenkrupp warned that in the current quarter, lozs could tally up to 1 billioneuros forcing the company to say it does not have a liquidity problem. proceeds expected from the elevator unit sale which inked just on the eve of this crisis to ryanair, the budget carrier on the boards you can see a spike of 3% in that stock. eyeing a return to the skies trying to residence respect 40% of flights scheduled by 1 july versus a skeleton of 30 flights a day. passengers would have to wear fas masks and ask crew if they want to make a visit to the toilet and fill out a form of where you will stay and after the flight that you'll have to quarantine for two weeks, ryanair saying that is idiotic and uneven forcible. >> really, this is a hospitality- led recession >>> so many questions you probably have around the state of business at your job and company. how fast are we going to recover? when will i go back to an office and will i be safe consulting firm pwc is looking for some answers with a survey of cfos. with he were on a call yesterday. here are some of the key points.

for co-investors it seems with the crisis, the price is quite a burden with them as well but now thyssenkrupp is going ahead saying they don't know of any problems with the sale of the business they are also saying they don't have a liquidity problem. expecting another record loss in the third quarter of roughly 1 billion euro at the same time, they secured the kfw loan until the end of september when they expect the ree re receipts from the elevator business you don't really see that business model going forward because they are going to concentrate on steel if you look at steel business, it is hugely loss makes and the price is under pressure. the question is when that will change they tried merge with the steel business which didn't go through regulation the question is how are they going to perform or be successful going forward currently, the market is not believing that this is very easily doable looking at the rough share price in action. they've scrapped the already back end of march. they are saying there is no visibility because of the coronavirus crisis they are especially hit hard

expect to finalize that to next year requiring the approval for the fourth largest automaker >>> thyssenkrupp is one stock we've been watching. it is down 2.8%. talks to combine the submarine and ship unit. the troubled german industrial company is exploring different options including a merger the tie up would create a champion in the space with sales of more than 3 billion euros >>> plenty coming up including conversation with the director general as the group warns airlines will feel the impact of the coronavirus outbreak for years to come. we'll be back shortly. jimmy's gotten used to his whole room smelling like sweaty odors. yup, he's gone noseblind. he thinks it smells fine, but his mom smells this... luckily for all your hard-to-wash fabrics... ...there's febreze fabric refresher. febreze doesn't just mask, it eliminates odors you've... ...gone noseblind to. and try febreze unstopables for fabric. with up to twice the fresh scent power, you'll want to try it... ...again and again and maybe just one more time. indulge in irresistible freshness. febreze unstopables. breathe happy. truly

. >>> another company, thyssenkrupp, looking to combine.ey are expected to announce the moves later today as part of a strategy revamp. last week the industrial giant warned it could lose up to 1 billion euros in the current quarter due to the coronavirus shares are bounce withing off the highs of the day but up still more than 5%. >>> the board of the european stability mechanism has approved a 240 billion euro pandemic crisis support facility which will help members fight the fallout from the pandemic. in an exclusive interview with cnbc, esm director told us the new facility represents the spirit of the european union >> on top of what member states do themselves, there is an offer from different european institutions the european investment bank will do something, the european commission has agreed already on one offer, the program to support unemployed member states and commissioners working on a recovery plan, so we have this very special situation that measures at the national level, which are needed will it be complemented at the eu

thyssenkrupp -- the loss is deepening. it was meant to fund the turnaround. have in focus today. in focus, coming up -- anrveillance" exclusive interview coming up in a few minutes' time and i am heading over to radio. tune in to london. this is bloomberg. ♪ staying connected your way is easier than ever. you're just a tap away from personalized support on xfinity.com. get faster internet speeds with a click. order xfi pods to your home in a snap. or change your xfinity services with just a touch. all in one place. you're only seconds away from all of that on xfinity.com. faster than a call. easy as a tap. now that's simple, easy, awesome. francine: the u.s. prevailed in the battle to boost coronavirus testing print boris johnson -- we speak with the chairman of standard chartered on what will take. austria's chancellor tells bloomberg that debt is not the answer to the spread. good morning and welcome to bloomberg survllce