And german exports mark the biggest increase since 1990. Shares slump after a warning he wont hesitate to add more countries to britains quarantine list. Uber sees revenues fall almost 30 sending shares lower after hours. A warm welcome to street signs. Weve got some macro data. Frances trade balance fell to 7. 96 billion in june down from mays figure comfortably beating expectations in germany, exports are posted their biggest gain rising 14. 9 in june. Strong demand from china spurred a near 9 jump in industrial output chinese exports rose 2 easily beating forecasts. Imports contracted missing estimates of a rise. Officials are reportedly said next week to reach the talks asian markets have traded lower. Main land Chinese Markets taking a hit down 1. 4 amid escalations with washington moving to ban tiktok owner bytedance and we chat owner tencent European Markets have been open about an hour stocks are up 15 basis points. This follows a drop of 0. 7 . Yesterday, the u. S. Session als
Good morning and welcome to bloomberg surveillance, im Francine Lacqua. The focus firmly on earnings. Impetuso give a bit of to industry groups. European stocks rising. We had pretty good earnings for american tech giants. Speaking of Economic Data and some of the bad data we had out thee, we are also getting italian gdp figure. 15 and itmate was fell less than perspective. Somee also getting breaking news out of the bank of japan. Lets get straight to the bloomberg first word news. The spanish and french economies have suffered their sharpest contractions. Output dropping 13. 8 in the quarter. The eurothe whole of area comes out at 10 00 a. M. And is expected to show a 12 slump. Talks in washington over a new pandemic relief package making little progress. Senate republicans are planning to vote. It must be part of a comprehensive plan. It gives republicans a chance to say they tried. The u. K. Has reimposed lockdown restrictions across parts of the north of england. Some britons have
Report 1. 5 million euro loss leading to job cuts. Industrial profit forecasts beat sending shares higher the ceo says hes cautiously optimistic we have the prices under control as much as we can control it going forward, there is some volatility that we will see a second wave. Mining giant glen core ditches its dividend following a massive impairment charge following the bottom of the stoxx 600. A warm welcome to street signs. It is a big day before the bank of england keeping rates steady and left the size of the Asset Program unchanged. Bankers are painting a more pessimistic recovery warning that they wont return to precrisis levels before the end of the year. They expect the rate to double by the end of 2020 looking at the action surrounding the bank of england news starting with guilt we have the move lower out 2. 5 . Third year trading 64 points or so sterling has hit a fresh fivemonthify versus the dollar. Currency investors like what they see to get into more detail from the b
Struggling companies will be well advised to stay away from those in or near bankruptcy said fred ringle a partner and cochair of the Bankruptcy Department law firm robinson broad leinwand green genevese and block people who buy equity hoping that theyre not going to get wiped out in a bankruptcy just dont understand the process or they dont watch kaiser report well you know this is an extension of the opiate crisis you know the the big opium manufacturers in america oxycontin so the heroin producers they you know they got millions and millions of people hooked on heroin and those people now are hooked on gambling so and so forgive porn so you have a country that is essentially the general right theres got gambling. The heroin addiction and porn addiction right so thats the vast majority of Economic Activity which is going quarter to g. D. P. By the way so if vice could. Maybe triple them the debt to g. D. P. In america would look better everybody has a different opinion about what is
Climax kaiser this is the kaiser report its the world is full of day trader stock trading is free and got all that free money from the government has a lot of people speculating whats going on they say well you know. Money printers obrien. And of course what always follows the problem when it was just going to the top 00 point one percent. You know is the moral hazard right moral hazard is an issue and were going to show you how that plays out how that has trickled down to the rest of the economy as we predicted here in report when people were piling in on their robinhood up into her its a bankrupt company now we see amateur j. C. Penney traders beg judged to save them from white bout this is the story of American Financial markets since especially 2 1008. 00 they are only acting like the leaders of our Financial System like j. P. Morgan like jamie diamond and amateur investors who loaded up on j. C. Penney shares as a reseller went bankrupt are now pleading the judge to spare them fro