A battle of 2 giants france says it wont make human rights a condition for arms sales to egypt as president sisi visits paris. Really. Funny and cutting a new record bob dylan sells all his songs to universal music and one of the biggest such deals. Announced and how much of the sport as europe hold its qualifying draw for the 2022 world cup in qatar details coming up this hour. Thanks for joining us we begin in the u. S. Navigating its way through a president ial transition as well as a worsening coronavirus situation a record 100000 people were admitted to hospital on sunday with more than 2000 americans dying from the disease every day so the president elect joe bidens reportedly made his pick for Health Secretary one of the incoming administrations most consequential jobs and hes eyeing this man hes californias attorney general have you have a sarah for the position well in his home state some 33000000 californians are now under sweeping new restrictions private gatherings will be
Bloombergs European Headquarters in london. We are getting some breaking news in terms of pmi. Euro area figures pretty much as expected. Greek july manufacturing pmi falling to a record low of 30. 2. We were expecting a figure of 46. 9. 30. 2 is a record low but also very low indeed. Anything below 50 indicates retraction contraction. The Athens Stock Exchange has plunged this morning. We will have the latest from the greek capital in just a moment. First to manus, whos been taking a look at how the market has moved. Not a pretty sight. Manus the biggest oneday move on record on the ase in athens. Down over 21 at the open. Weve been closed for five weeks. The longest closure since 1970. We will go to hans nichols outside the exchange in a moment. You had two quarters of contraction. We are on the way to recession. National bank of greece down 30 . Within the first four minutes the price has crashed. What youve got here is a not necessarily that it saw a huge amount of volume, but the
I am francine lacqua. Manus it is. I am manus cranny. First, the global standoff. Shares plunged the most since 2000 seven. Francine that european stocks are down in the red. Commodity prices sinking to a 16 year low. Rest ine will have the a moment. Lets get at the very latest in europe. Caroline, take it away. Caroline disaster is what one chief officers calling it. We are seeing a major selloff. Shanghai composite, check that out. Down 8. 5 . The worst since 2007 despite moves by the Chinese Government to stem the bloodshed. They are trying to support with pensions. The rumors are reserve ratio cut to the banks that did not materialize. Down goes asia and the affect on your. We are in correction territory. And the effect on europe. We are a bear market. If we close at this level, we will between 2 of our previous high. Not one single stock is rising. Concerned about Global Growth and infrastructure. Bmw, feeling the pain. Credit squeeze saying that the auto market will feel much of
Jobs. Ave tough i dont envy them what they have to do at the moment. Anna welcome to countdown. I am anna edwards in london. Manus i am manus cranny in dubai. Good morning, and a. Anna let us talk about the oil price. Wti yesterday. We are rallying once again this morning. Tomorrow. Data is due seeing increasing in the united eights. Decrease ino weeks back to back numbers since september. We have a number of factors coming in. I have a chart that contextualizes this move. All the way back to 2005. Inventory are forecasted inventories are forecasted to decline again. Bouncing up since the lows in february. 80 since we saw the 12th year those in the price of oil. A number of factors. Wildfires in canada that on the agenda. Warm weather fanning flames. Supply disruptions in nigeria as well. Talking about oil and what you do with the proceeds of oil. Manus, inc. News in your part of the world. Manus, big news in your part of the world. Manus i love this. I love the cover. Have a look. Sau
More than 25 billion come hedge funds last month. The biggest month redemption monthly reduction since 2009. Caroline we have cautious trading ahead of jackson hole. Federal reserve chair speaking tomorrow. Futures down 20 if youre looking at the euro stoxx 50 at. 2 moment futures down if youre looking at the euro stoxx 50 at the moment. I know youre good to be checking other assets. Manus into the calm before the storm. That is a part of the debate will have today. Repressed volatility. Is it qe at work echo stocks in the u. S. Lowest since 1994. Bloomberg dollar index at the top of your screen, up. 4 . We are shifting into they five of the dollar bid zone on that. Underneath that you got crude oil up. 25 . He had stockpiles again. U. S. Suppliers up by 2. 5 million barrels. Greenfield ceo says short crude at these levels, 50. Is it a moment of recovery or more pain echo pain . Growth will be close to zero this year. Olitics is the dominant theme i am or has a sword into 2014 at we ha