These are your top headlines from the bloomberg terminal. , nancyg the deadline pelosi sets a tuesday time limit for more progress on u. S. Fiscal stimulus if the president wants a deal before the election. Backing down, a bloomberg exclusive says the u. K. Good rewrite its lawbreaking brexit bill, a move that may revive talks with the eu. Sterling gains on that. Plus, restrictions tighten as virus cases surge around europe. Italy is the latest government to add lockdown measures, prioritizing its struggling economic situation. Under one hour away from the start of cash equity trade in europe. Lets take a look at the futures this morning. If you pull up the European Equity Index Futures you will see a pretty mixed trade. You have ftse futures trading a little lower, now bouncing off up about a quarter of 1 . Ftse futures are a little changed right now. Take a look at the u. S. Futures picture. You have more green arrows there. Dow jones and s p many contracts up 7 10 of 1 . Nasdaq 100
Posted 70 decline in operating profit the ecb urges banks to maintain the band on dividend payouts until the start of next year adding remuneration should also be mod rated speaking to the chair later on cnbc a trillion new stimulus plan puts republicans on a collision course over cuts to Unemployment Benefits saying america has 1 foot in the pandemic and 1 foot in the recovery the senate have been consulting to come up with a realistic proposal with what we think is an appropriate amount of Additional Debt to be added to the economy at this time. A warm welcome to street signs, everybody. One of the biggest movers this morning is in the auto space the psa group has fallen to 84 . The french carmaker said it will maintain 4. 5 operating target predicts a large rebound nor the second half of the year. Lets get to charlotte with more psa shares reacting very well to this set of results. What is so encouraging that we heard this morning good morning. You said it is all about the margins a
Spend time on and we have euro area pmis coming in a touch better than expected but im not sure if it is moving eurodollar that much. 39. 80, always a good test looking at command and what it means for the world economy. Point 1764 and we look at her earnings with a couple of disappointments in the banking sector. Joint manufacturing pmi coming in at 51. 8 instead of 51. 1. Lets get the first word news with laura wright. Laura the u. S. Plans to act against a wide range of chinese owned software companies, not just tiktok. Thats the latest from secretary of state mike pompeo speaking to fox news. On friday, President Trump told supporters he plans to ban the app. Pompeo said the decision should come soon. The u. K. Is considering the worst case in a real of locking down london according to the sunday times. It would see at risk people asked to stay at home. The local government secretary says he is not aware of any specific plans to seal off london but the u. K. Will target local flare
Covid19 own Macro Economic Development Going forward. I in leary, we should expect lower Going Forward. Ab in bef shares up. Vw slashes its dividend after posting the first half operating loss and renault posts a loss and says it is impossible to give any guidance. Astrazeneca rallies as Second Quarter sales top forecast the ceo says he expects to benefit from the Covid Vaccine this is a business that is redirect examinatio resilient. Weve managed the crisis well. Patients are returning to physicians a very warm welcome to street signs. Now on the gdp front, german adjusted preliminary gdp the calendar adjusted q2 number down 11. 7 slightly worse than the 11. 3 forecast the sharpest decline from 1970 the calendar adjusted level, 11. 7 versus 11. 3 predicted the rebound in that data, the pmis came in growth territory but still q2, a very severe decline. Lets bring in annette who knows more about the German Economy than i do. The 11. 7 drop in gdp. Exactly it is worse than expected but t
Ahead of ourselves but it is gratifying to see the momentum barclays sets aside 3. 7 million shares. Sending shares lower in london telling us this banks Capital Position is strong we remain very capitalized and liquid we sustained profitability in the face of this pandemic. That allowed us to help customers around the world santander sees red amid a slew of write downs. Investors find the diamond in the rough at kering sales fall less than expected, dropping almost 44 . The French Luxury Group says there will not be a second half bounce back. As you heard there in the headlines, we heard from a number of Companies Across different sectors putting it all together markets trading higher up 0. 2 . We are building on yesterdays gains the main benchmark breaking a twoday losing day for the european markets and also on wall street. The Federal Reserve, the conclusion for the meeting as well as keeping an eye on washington where big tech will be coming under scrutiny a lot for lawmakers to d