Tanker over suspected sanctions violations samsung has warned its operating profit dropped nearly 56 during the Second Quarter, but the phonemaker did still Beat Estimates thanks to oneoff games in its display division. If you look at some of the major chipmakers across europe, you will see it, they are all very significantly in the red my colleague, Elizabeth Schulze is here to provide more detail what did this filing say samsung issuing guidance for Second Quarter guidance, well be getting those at the end of july, an early look suggests its operating profit is 5 5. 6 billion. That was above expectations of 5. 1 billion, but a 56 drop. Revenue was helped a bit by that oneoff reimbursement. Most Analysts Expect that display reimbursement came from apple. The important thing to note here, theres a couple of risk factors. The first is the general tensions between the u. S. And china the trade agreement, which is weighing on the overall outlook for the electronic sector and for demand in that industry we saw japan put restrictions on south korea, that would make it more difficult for samsung to get some required parts it needs to make chips. Chips are the most profitable part of the business its an seen the initial part of this companys bottom line we saw a drop in shipments to huawei so huawei buys chips from samsung, inned addition to crean its own chips. The outlook for samsung could be bigger in the smartphone picture, but theres also a chip supply glut. You mentioned the idea that if huawei faces restrictions globally, samsung could step up and say well sell more smartphonesto people who would be buying huawei if huawei is one of your biggest customers for chips, that comes with an edge its such a push pull between the companies, each has really made a push to make their chips inhouse. Samsung, thats the biggest part of its business. If you look at the smartphone shipments for the First Quarter according to idc, samsung, apple and xaomi all declined huawei shipments have been surging, about 50 in the First Quarter. So theres certainly a place for market share to be taken away if we do see a decline in huawei and shipments for phones in the Second Quarter, perhaps that could help samsung gain traction back lets look at how the rest of the european markets are faring. Weve seen how this impacted chipmakers in particular, but now the more broad sectors across europe. The ftse 100 is in negative territory. Some interesting developments around iag the norwegian shares have been soaring on the back of the latest report in a spanish news website that iag had to deny. The xetra dax is in negative territory as is the cac and the ftse mib you can see why were seeing that going on. The real estate sector is 0. 6 higher telecom, 0. 6 higher miners doing relatively well on the back of some of the prices weve seen recently. Basic resources, industrials both into negative territory lets see how the asian markets closed the end of today. The hang seng into negative territory. The shanghai up 0. 15 . The kospi is slightly higher at the close there. Chinese authorities have threatened to stop buying american crops if the u. S. Doesnt change its stance on trade talks. This comes after the Chinese Commerce ministry urged the u. S. To cancel extra tariffs. Reporter a Chinese State media blog says china wont buy more american crops if the u. S. Flipflops on the trade talks. The blog is believed to have insights into chinas negotiations strategy posted a commentary today saying if the u. S. Flipflops in the negotiations the promises to buy american Agricultural Products will also be overturned. The piece comes after the South China Morning Post quoted sources saying china would hold off on buying american soybeans to gauge how the white house decides to ease restrictions on National ChampionHuawei Technologies and after the Commerce Ministry flagged concerns about how the white house would decide which Tech Products can be sold and not sold to the chinese company. Translator we have noticed President Trump said at a press conference during the g20 sum mi summit that the u. S. Will allow u. S. Produccompanies to sell to huawei the two sides are expected to arrange a phone conversation among the top negotiators as early as next week with the fate of huawei quickly moving up to the top of the agenda. Eunice yoon, bay sieijinbeijing. German Industrial Orders fell 2. 2 in may the data come pounds the negative picture for europes largest economy. Germans Economy Ministry warned Industrial Orders are likely to stay low in the coming months. Lets bring in neil shirring do you see any meaningful resolution between the u. S. And china any time soon . I think its unlikely i think discussions will ebb and flow were in a truce now when it was focused on the narrow issue of the trade balance between the u. S. And china, it was quite easy for beijing to say well buy a bit more soy and energy from the u. S. , well close the deficit. As soon as it started to shift from the narrow issue of the trade balance towards the more thorny issues around tech, industrial strategy, intellectual property, national security, thats much more difficult ground much more intractable problems i think the idea well get some shifting on those issues is difficult to envision. I dont see a major break through. There may not be an easy answer to this question. What does all this do in your view to the psychology of investors, to the psychology of Business Executives when it comes to making decisions about spending i think in some senses it is not a simple answer, which is that weve seen capital expenditure, Business Investment delayed. Economists tend to talk about the direct effects of the trade wars, the effect tariffs have in terms of raising prices, misallocating resources. I think the more substantial effects so far have come through the indirect effect that the trade wars have had on things like business confidence, delayed investments, lots of ways you can look at this. Ordinarily at this stage of the cycle with most economies at full employment you would expect to see this is the point at which businesses are investing but theyre not. Theres lots of reasons for that one plausible one would be trade wars when we talk about indirect effects, you think its mostly business confidence. Anything else people are overlooking . Mostly business confidence. Theres a case to be made at the back end of last year that we get a tightening of financial conditions, particularly of Central Banks in tightening mode thats not been the case over the past few months. Bond yields falling because Central Banks shifted positions. Its possible we could see tightening of financial conditions were not there yet. Its mainly through the confidence channel if you looked at last earnings seasons, a lot of Companies Said theres all these headwinds including global trade tensions is there anything you think should not be attributed to trade when it comes to individual sectors, performance of sectors that is much more to do with a growth slowdown that probably would have happened any way . Its hard to pause the data. Thats right. Its difficult to disentangle all of these things. The Global Economy was slowing even before the latest escalation in the trade war. When you run the models and you start from first principles, it looks like the trade war may have shaved about 0. 3 off of global gdp thats not insignificant bear in mind Global Growth slowed from over 4 to under 3 . So really only the trade war can explain a fifth of the slowdown in Global Growth thats the direct and indirect effects. Theres clearly Something Else going on Something Else much more important. Theres weakness in europe, weakness in the u. S. , weakness in china unrelated to the trade war. When you have this back and for the between two government is, and beijing and washington, clearly investors paying close attention to every utterance, you see shortterm spikes in volatility, do you anticipate the second half of this year well see more of those spikes or will it be a much more significant potential downturn in Market Sentiment . I think that the risk is clearly that we see a much more significant downturn in Market Sentiment. At the moment, the key issue is not really about trade wars. Thats a bit of a side show, its the signal fromm athe bond market, the threat of deflation and slowing growth and the signal from the equity market which is dont worry about that or trade wars, the Global Economy is in good shape my sense is that the bond markets have it right and the equity markets will fall over at some point thats the key central issue so briefly before we take a break, u. S. Indices hitting alltime highs this week, is there a specific inflection point, a trigger in your view that would end up with that downturn for the equity markets . The key thing is at the moment weve not seen the hard activity data in the u. S. Start to meaningfully weaken. Once that happens, if and when that happens, it will start to happen through q2, q3, q4. Thats the point at which the equity market falls over neil, stay with us. Just to run you through corporate stories. Osrams managing boards have backed a 3 3. 4 billion takeover offer from bane and carlyle. The firms had made extensive commitments over the companys growth strategy, employees and the various locations where it manufacturers. The bid of 35 euros a share represents a premium of 21 before the offer was made public. Norwegian air shares are higher after iag reaffirmed its not interested in the lowcost carrier. This followed a report in spanish media that the owner of British Airways was preparing an offer within the next fortnight. You can tweet us at streetsignscnbc. Greece is set to hold a snap election with the ruling government trailing in opinion polls. Well have more on this weekends vote after the break take prilosec otc and take control of heartburn. So you dont have to stash antacids here. Here. Or, here. Kick your antacid habit with prilosec otc. One pill a day, 24 hours, zero heartburn. We like drip coffee, layovers and waiting on hold. What we dont like is relying on fancy technology for help. Snail mail we were invited to a y2k party. Uh, didnt that happen, like, 20 years ago . Oh, look, karolyn, weve got a mathematician on our hands check it out now you can schedule a callback or reschedule an appointment, even on nights and weekends. Todays xfinity service. Simple. Easy. Awesome. Id rather not. One of the big stories in europe is around Deutsche Bank which has reportedly got plans to create a separate Corporate Bank that will include Transaction Banking activities the report says the move would be part of the german overhaul of the Investment Banking europe Deutsche Banks board will meet on sunday to discuss the restructuring process. The uks competition watchdog put a temporary pause of the investment of amazon while it decides if it needs to launch an official probe the ecommerce giant bought a major stake in the Food Delivery Company in may in an effort to compete with uber eats in response to the move from the competition and markets authority, amazon said its investment in delivery will enable it to expand services and benefit consumers. The latest nonfarm payroll figures are to be announced today. Dow jones estimates 165,000 jobs were added in june, the Unemployment Rate is expected to hold steady at 3. 6 . Average Hourly Earnings are expected expected expected to rise slightly to 0. 3 it is said that the fed is not looking at individual data points what is the data from the u. S. That you are watching most closely, what do you anticipate might be the ultimate trigger for a rate cut in the second half of this year . I think we moved to a position where we have to think what will stop them from cutting rates the second half of the year its priced into the market. If they dont deliver that easing, i think we would see big ruptures in the equity market but also the treasury market so thats the first point. What would stop them from cutting. In terms of what were watching, clearly the market today will be focused on the nonfarm payrolls, not just the payrolls number, but also the Earnings Growth and the unemployment number the composition is important some signs that hiring of smaller firms is starting to soften thats important for two reasons. One is they tend to lead the cycle and these are not the firms exposed to trade war that takes us back to how much of this slowdown is due to trade wars if its small firms starting to pull back from hiring, theyre not the big exporters in the u. S. So the labor market, the soft data, the ism out this week was weak industrial production. We have our own gdp trackers thats tracking at 1. 7 annualized for q2. The question is does q3 get weaker if it does, how much of that would you attribute to the aggressive some would say protectionist trade policies from the u. S. Administration it has little to do with that the u. S. , the key point to remember is a servicebased economy, not a manufacturing based economy. Its a closed economy rather than an exporter this is a relatively closed Service Space economy. Theres something happening domestically in the u. S. I think its a combination of two things the first is the sugar high of last years fiscal stimulus is starting to wear off the tax cuts are wearing off the second thing is that though the Market Attention is focused on fed easing, we have just come through a period where the fed is tig htening. That tightening is starting to weigh on rate sensitive sectors in the u. S. Economy. Durable goods consumption in particular those are the two dynamics playing out. I want to ask about europe. When you listened to Mario Draghis speech in portugal, did you think the ecb has got to cut rates, they have got to use more tools, theyre going to use more tools . Yes thats right thats the direction of travel the question is can they how much room do they have to cut Interest Rates at this stage, they can go a beth further, but theres not much more they can do i think that quite quickly take us back into the world of asset purchases. I suspect there will be more quantitative easing to come further down the line. At this stage, were looking at another trillion euros of asset purchases from the ecb split roughly half and half between corporate and sovereign debt i suspect they want to change the rules, too, to give them more head room as well what happens with the transition now, we have lagarde likely to be the next ecb president. If we had wideman, much less easing would be pushed through one beneficial resicipient would be italy do i feel at some point the chickens will have to come home to roost for the Coalition Government there we have a combination of loose Monetary Policy from the ecb, expectations of further easing, theyre just about keeping the budget plans in check, 2. 04 deficit when were down to the second decimal place, you know things are getting desperate. Were just keeping the whole thing together the show is just staying on the road i think the key ingredient in all of this is what happens to growth in italys economy. Because thats what is really needed to generate the income to service debt its not really a budget balance problem, its servicing that existing pile of debt. If they dont get the groowth, thats when things fray at the edges. There are obstacles lis ther but do you think the european project, whether thats the ecb, European Commission, do they have the time to make the changes necessary for things to pick back up broadly how long do we have to debate whether the european project is doomed or not, thats incredibly complex. One thing you can say, if germany was to loosen fiscal policy substantially, that would be a massive help not just to germanys economy, which is teetering on the brink of recession according to data coming in but also the rest of the european economy, because it was helping to bring down germanys surplus and bring it into demand with the rest of the economies. Im not sure political conditions are in place for that to happen. Italy is the interesting case. Since the inception of the eurozone 20 years ago, et italy economy has grown by less than 20 . Same of germany and spain. Can italy grow within the straitjacket of the euro at the moment the answer to that question is no thank you for giving me an answer to that question. Sticking with this topic, European Council president donald tusk appealed to lawmakers to approve the nominees for some of the trading blocks top jobs tusk praised the eu for making good choices he met with ursula van der leyen, the German Defense minister tapped to head the European Commission saying she was dedicated to Judicial Independence and press freedom van der leyen faces resistance from several members of the European Parliament. Some Business Leaders are gathering at the b7 france summit one person absent is Christine Lagarde who pulled out of a speech after receiving the nod for ecb president. Lets get in touch with annette who joins us from the forum. Is madam lagarde the focus of the event there because of her links to france . I guess tomorrow that will be a focus. Tomorrow the talks will be about economics and Monetary Policy, probably also what madam lagarde will mean for europe and for Monetary Policy. You see the dire reaction on the market, the market is banking on her being super pragmatic and slashing rates even further into negative territory ive spoken to many people in the central banking world and the banking world about her and what they make out of from that announcement, and they are all like, yeah, its good news for the banking industry, its good news because she has a sense of being pragmatic let me talk about whats happening here its the b7 meeting. Business forum, which is always in connection with the g7 meeting taking place later in france people here on the ground are talking about how to make growth more inclusive, how to make more equality in the world but promoting growth and by reducing income inequality. Because clearly thats not only talk anymore we have seen facts here in france for people taking to the streets, protesting the yellow vest movement, that has almost toppled the government here in france people take it increasingly serious that also populism is actually a result of more inequality with the rising coefficient which people have to tackle so over the weekend, as i was saying, this big economic conference will happen, anal wa annual affair. We will speak with the head of the bank of france and also the chairman of societe generale, and we will bring you that interview on monday at the top of squawk box. Thank you so much we look forward to that. Coming up, tensions between iran and the west continue to escalate as the uk finds itself embroiled in a row over a seized oil tanker welcome back to street signs. Im willem marx in london. These are your headlines this friday morning european chip stocks fall after samsung warns that Second Quarter operating profit probably fell 56 . European equities trade cautiously and global bond yields remain at record lows while miners fall back after reports of chinese steel firms looking at record iron ore prices. Tensions escalate between tehran and the west after the uk seizes an iranian oi tanker over suspected sanctions violations on syria. And u. S. Markets reopen today after the july 4th celebrations across america with none bigger and more controversial than President Trump military parade in washington, d. C. Seems to be a negative start. The ftse 100 is a third of a percent lower. The xetra dax below the flat line the cac in paris trading a fifth of a percent lower even the ftse mib trading down more than a tenth of a percent if we look at u. S. Futures, they, too, seem to be looking to open relatively soft you can see the s p 500 being called 2 points lower. The dow jones and the nasdaq looking to open lower. That follows on from some record highs weve seen this week it seems like those july 4th hangovers might be having something to do with this. Lets look at the u. S. Futures market on from there we can talk about oil prices this is a big part of investors focus at the moment because of some tensions in the gulf. Brent is trading slightly lower. Wti at 56. 57 a barrel trading off by a third of a percent. The u. S. Doing worse than its european counterpart iran has summoned the uk s ambassador to ta rain after an iranian ship was seized over a breach of eu sanctions iran said British Forces conducted an illegal seizure that amounted to a form of piracy. Spains foreign minister said the operation came at the request of the United States and he questioned whether the seizure violated spanish sovereignty. Translator we were aware of this operation we are studying the circumstances under which this is taking place. This is a request made by the United States to the united kingdom. It took place in waters which we understand are under spains sovereignty. Authorities have been commenting about the situation for the crew on board that ship. There are no British Royal marines still on board there are police and Customs Officials on board the grace i, the tanker there theres 28 members of the crew, theyre being treated and interviewed as witnesses, not as criminals. Officials there are trying to determine what the cargo is and what the ultimate destination was. I would like to bring in the head of research at ddaker frontier the british seemed to have upset the iranian and the spanish, have they prioritized their relationship with the u. S. I think what happened is violations against syria, which the uk had to respond to europe, including the uk, is still making efforts to try and maintain the framework around the iran nuclear deal, which is broadly falling apart right now. The europeans are trying to reduce some of the pressures and tensions taking place. We expect these incidents to continue this one probably wasnt anything that had to necessarily have to do with the tensions between iran and the u. S but in the broader context of what iran is looking to do now, they want the support of European Countries including the uk we dont think this will escalate significantly if its the americans that ask the british to launch this raid as the Spanish Foreign minister alleges, it puts the brits in a tight spot. Theyre trying to be one of the chiefs with the government in tehran, at the same time the government in tehran is saying you guys are carrying out acts of piracy. That makes it difficult for dialogue it does were seeing difficulties in dialogue between the u. S. And iran in the broader context we will see ultimately continued moments of escalation. But we believe that the u. S. And iran actually will end up negotiating. It might take months to get there. But we think they will go back to the negotiating table when iran announces that it has exceeded the stockpile limit agreed under the jcpoa, and they say this weekend theyll purify to a level beyond those agreed to, is this a manufactured crisis on their part are they trying to create the conditions to force those negotiations to begin again . Thats a good way of describing it. Yes. I think theyre trying to push back in different ways theyre trying to put pressure on European Countries to put pressure back on the u. S have the u. S. Really reduce some of the pressure that it has been putting on the iranian economy is the pressure on the iranian economy, do you think, that has made them pursue this course of action now, 14 months after the u. S. Pull out of the jcpoa . The pre the pressure on the iranian economy is severe. Oil exports have dropped significantly. The first thing iran would like to do is resume exports of oil to stabilize its economy when you look at the economy in iran, do you think its down to that loss of access to Global Oil Markets thats been the main precipitator for that downturn in the economy yeah. That has been the main pressure on the economy it was already struggling a little bit because of Foreign Investment which was not coming back during the time when the deal was in implementation the benefits of that dial didnt come through in a Strong Enough way as expected. Now were in a real crisis situatio situation. I remember john kerry concluding that deal, coming to european banks and saying start lending to iran, start working with the iranians, business is there. A lot of european banks were cautious because of what happened in the past where they had been caught violating u. S. Sanctions and ended up with massive types. Since then, have the european governments failed to deliver on promises to iran the European Countries can only do so much when they have to choose access between iran and supporting the nuclear deal and access to the u. S. Market. That put pressure on the european corporates to invest, banks to do transactions before the deal ended up where it is today. They did not have enough clarity on the u. S. Side to see if banks and companies were safe investing in iran. And the ones with slightly higher risk aversion were waiting to see more signs, yes, the u. S. Will lay out how we can invest safely in iran. They never did that. Now the whole situation has reversed significantly europe can only do so much. The timing was never right then by the time this was concluded, you had the Trump Campaign in full swing, you had advisers talking about iran and therefore european businesses an companies were not talking to iran businesses in that part of the world, looking at these attacks on tankers, are they very concerned about the set ways or is this business as usual for them theyre used to uncertainty and volatility, they are a little more worried, but they have not started taking specific action yet they have not started changing supply chains, there is a bit of stockpiling in kuwait, but nothing on a major scale theyre monitoring the situation closely. This is already affecting performance in places like lebanon, jordan as well where confidence has been weaker there have been postponements of investments. No major action in terms of corporates at this stage we saw the oil prices a few minutes ago. You could see that prices are down today following on from the opec and opec plus meetings in vienna, we saw production cuts extended, the relationship between opec and russia being maintained when it comes to cuts is that a much greater factor in terms of the price of oil than any of the instability were seeing around iran does that continue to be the case yeah. The oil prices are significant because it affects the core centers of profitability for a lot of corporates in the region. That meant demand in places like saudi and uae is subdued that affected corporate performance. Thank you very much for coming in. Japanese Household Spending has increased at the fastest rate in four years in the month of may it rose 4 annually. That was way above forecasts of 1. 6 the data suggests a much needed revival in japans economy could be under way private consumption is seen as crucial for japan as it fights deflationary pressures and external trade tensions. Japan slapped restrictions on exports of chipmaking materials going to south Korea Companies on both sides are scrambling to deal with these tougher control measures makiko utsuda joins us with more details. Yes. The restrictions came into effect thursday and require japanese suppliers to seek approval for individual exports of ma teterials essential for Semiconductor Production south korea relies on japan for over 90 of its materials and for a large portion of its gas the newly required approval process can take up to 90 days, and the delay could lead into a major disruption in supplies samsung holds about a months supply of the materials, while a source from another major maker says the reserve will last for less than three months both have rushed to stockpile materials to keep production going. Abe has acknowledged that this is retaliation against a court order to pay several Japanese Companies to pay south koreans forced to work for them during world war ii japan argues all claims have already been resolved. Japan is looking to remove south korea from a white list of companies that enjoy preferential treatment on trade. Businesses in both nations are concerned how far the impact could spread thats all from the nikkei back to you. Makiko utsuda, thank you very much follow us on twitter if you have views on any of these subjects get in touch, streetsignscnbc or you can tweet me directly ralfa nadal advances to the third round of wimbledon well bring you more after this break. In jellyfish. In clinical trials, prevagen has been shown to improve shortterm memory. Prevagen. Healthier brain. Better life. Its the idea that if our mothers were diagnosed with cancer, how would we want them to be treated . Thats exactly how we care for you. With answers and actions. To hear your concerns, quiet your fears, lift your spirits. Thats the mother standard of care. This is how we inspire hope. This is how we heal. Cancer Treatment Centers of america. Appointments available now. Cancer Treatment Centers of america. When you have nausea, heartburn, indigestion, upset stomach, diarrhea try new pepto liquicaps for fast relief and ultracoating. Nausea, heartburn, indigestion, upset stomach, diarrhea get powerful relief with new pepto bismol liquicaps. Prince albert ii of monaco has been one of the most outspoken heads of state when it comes to ocean preservation. Albert tells tanya breyer why this cause is so important to him. Very early on they did in a subtle way sometimes and in a matter of fact way, they pointed out different elements in nature that was also on walks my mother loved to take us on walks in the mountains or the hills. And she would point out the different species she identified my father, we went out on different boats, on different vessels. Mostly in the summer, and he would point out Different Things that we needed to know about the mediterranean sea, in particular, but about oceans as a whole. So i think very early on my sisters and i understood the value of nature an what it can do for us. And that we are part of nature even if we are all seemingly intelligent beings, and were at the temperature of the food chain, that doesnt mean that we have to remove ourselves from nature we depend on nature to survive that was Prince Albert ii of monaco talking about his parents and the way he taught him and his siblings to care about nature and the ocean you can see cnbc meets tonight at 23 00 sticking with europe, greek voters will head to the ballot box on sunday for a snap election the opposition new democracy policy are ahead in a poll the syriza party is trailing in second sylilvia amaro joins us in the studio what are the Main Campaign themes of the election polls suggest that Kyriakos Mitsotakis will be the next Prime Minister the question is whether or not he gets the outright majority. He has promised to increase the Corporate Tax rate to 20 . He is not happy about the growth rate in the country. He said he would like to see grease growing at a rate of 4 at the moment. Greek gdp is at 2 he also promised to change some commitments that greece made to the creditors. Greece ended the third Bailout Program last year. There are some conditionalities attached to finishing that third Bailout Program in exchange for debt relief. In that context, greece needs a Budget Surplus of 3. 5 until 2022 it is said he wants to renegotiate this 3. 5 threshold. We should stick to our targets, if there is fiscal space, we should reduce taxes. As simple as that. Reducing taxes is also going to improve Tax Compliance in an economy that has sort of a tendency to move towards tax evasion. Mr. Tsipras agreed to primary surpluses of 3. 5 until 2022 i think this is a very strict target ive said from the beginning that i respect the agreements made by the current government but ive also told my European Partners that should we be able to deliver real reforms, we should be rewarded with smaller primary surpluses. So, Kyrikos Mitsotakis there speaking about some of his plans. He will be in athens this weekend. The polls close at 7 00 p. M. Greek time while youre here, we have some headlines involving jeanclaude juncker, the Outgoing Commission president. He has been talking and says the process to appoint his potential successor, the German Defense minister, ursula van der leyen, was not very transparent he is saying he was the first and thus the last spitzen candidate. We talked about this we had this complicated process whereby the Political Parties inside the European Parliament figure out who they like ahead of the elections, who they want to see as Commission President we ended up with someone who none of them suggested, but clearly Angela Merkel liked. Based on these comments, quite unusual for him to be making these criticisms its interesting, but he is also about to leave the European Commission perhaps he feels more comfortable making those remarks. When it comes to the appointment of ursula van der leyen, the fact she is not one of those spitzen candidates could be a hurdle for her when the European Parliament votes on her appointment. We know the parliament is upset by the fact that theres no lawmaker being appointed to the European Commission presidency. Thank you well, rafael nadal found a way past a former nemesis to reach the third round of wimbledon as he beat nick kyrgios in a four sets win on centre court adam reid has more detail. Yes it was a meeting of styles, contrasts, careers on centre court yesterday when rafael nadal was up against nick kyrgios. He has found him a hard point in the past and it was no different yesterday as well. Nadal was really up against it won the first set, but then all these other bit of theatrical pieces of drama. Look at this what would you make of this shot i mean, hes going for the angle. Is he i was going to say hes going for the angle and it goes straight at the money box. Absolutely. Nadal called the shot dangerous. There was another couple of incidents when kyrgios was serving underarm, which we dont normally see on Centre Court Nadal was pumped up by the end of it as well. Kyrgios said the umpire was abysmal and unbelievable that day. And that is the way it goes. Thats the way their career goes kifr k ker k kyrgios, if hes not in the mood, thats what happens. He is a grand slam champion in theory, thats the opinion of rafael nadal someone who is a grand slam champion already is andy murray back on court yesterday evening in doubles action. Great to see him back for the First Time Since 2017 on a wimbledon court. With his new partner, Pierre Hubert they triumphed in four sets. Its a great advert for doubles. Now hes going to play mixed doubles later on today when he teams up with the up with and only Serena Williams it was a bit of a media clamor for this pairing to come together andy murray is just excited for the opportunity. The opportunity to play mixed doubles with her is something that i it would never have been kind of, i dont know, in my mind in previous years. I never thought about playing mixed doubles. Its not something i saw in my future yeah maybe i can give you a good story after the next ten days or so after weve spent some time on court i think well try to practice and stuff tomorrow yeah well see how the next ten days goes hopefully well have a good story to tell. Theres no court yet allocated for Serena Williams and andy murrays dream team partnership, when that is announced today at 5 30, there will be a whole bunch of fans running to see that. The latecomers to centre court or Number One Court which is most likely where that match is to be played some stewards will be maybe asked nicely if they can get in. An intriguing day today. You have simona halep and Victoria Azarenka going up against each other all day long will be counting down to murray and williams in the mixed doubles. Tune in for that later today. Thank you very much, adam reid. To bring you some updates on what has been one of our top stories, the oil tanker seized off the coast of gibraltar or spain, depending on who you listen to, involving British Royal marine commandos, a Senior Commander inside the Iranian Revolutionary guard, he has called on britain to immediately release the oil tanker seized in gibraltar. He said in a tweet that it is irans duty to act alike and seize a British Oil Tanker if that tanker, the grace i, is not released the irony being its a panamanian flagged vessel managed by a company in singapore. It was only once the iranians complained about it that we knew ultimately they were the owner lets look at the futures. All three indices looking to open lower that is it for todays show. Im willem marx in london. Worldwide exchange on cnbc is coming up in a few moments time. H of the military, but im command central. 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