10ly plans on spending billion euros a month. Biden uses his first call with Boris Johnson to reaffirm his support for the good friday agreements. A lot to talk about this morning. Under one hour until the start of the European Equity trading session, futures look flat. Ftse futures, dax futures, a bit of a mix. Yesterday europe was up strongly 1. 5 or more on the major markets by the close. We come into today with a continuation of themes of the previous day, selling out on tech, getting back to value. Lets get to u. S. Futures, looking more buoyant and having to do with what we did not see in the u. S. Session yesterday. Things are not as strong across the board. Nasdaq down by 0. 3 . U. S. Futures looking have we seen that rotation playing out in terms of the tech versus value story . It is in play in asia. It is inch deceit a japanese equity market doing well. See the interesting to japanese equity market doing well. Part of this has to do with what is going on in tech, a crackdown
Earnings results and a price of oil. Gold, topping 2000 and so you have gold topping 2010 same time, european stocks gaining so it is a risk off mood, high volatility for the month of august. The 10year treasury yield, steady near the lowest since march. There are signs american lawmakers are making progress on an economic aid package. Lets get to the first word news in london with laura wright. James the white house and democrats hope to have a deal on a new relief package by the end of the week. Sides remained far apart on key issues that they appear to be moving closer to an agreement. Any vote on a deal would likely not happen until next week. U. S. And china are planing to assess their phase one trade deal this month. Sources tell bloomberg the discussions between trade representative lighthizer and the chinese vice premier will take place around august 15 amid a backdrop of rising tensions between the two countries. And u. K. , lawmakers are urging Boris Johnson to be more open a
Nissan releases Second Quarter detailed earnings in just under half an hour. Joining the streaming wars, expanding breadbox in the u. K. Hong kongs financial district is paralyzed for a second day as protesters block subway lines and clash with police. We will get updates live. Less than half an hour to go until the start of the european trading day. Yesterday we were dominated by talk of hong kong. Violence on the streets there. Things seem to be violent once again. Clash is taking place. At the moment that is not having an impact in hong kong or the European Equity space. European equity markets set to bounce a little at the start of the trading day. Lets have a look at u. S. Futures. Racked up its first drop in four days in yesterday session. We had a slight pullback in the last 24 hours in terms of expectations around trade, in terms of the news flow around hong kong. Now we look set for a rally. U. S. Futures overlook convinced. Up by 0. 1 . Lets get to the gmm. This tells us what
Of very warm welcome, this is the pulse, live from london. Im manus cranny. Have a look at lonmin shares. They revealed they are hoping to tap up shareholders for 400 million in a rights issue. Stocks are up as the South African miner sides value fall by more than 50 over the last month. Lets go live to johannesburg. We have our bloomberg metal and michael reporter, metal an d miner reporter. This is a substantial cash ball to say at least. Andre good morning. Yes. It is good news, and something that has been worrying the market for a while. Basis . Nmin find the good news as far as they are concerned is that they have found three parties to underwrite it. From that perspective they are safe for now. However for current shareholders, this rights issue will come at a 94 discount. If you are currently in london, and you are not going to follow your rights, you will be bought up. Manus this is fully underwritten and one of the most contentious issues. Last week there was concern that they
2 trillion has been wiped off the market. Guy you are looking at it right now. As you can see there is a lot of red on that screen. Anna bonds continue to retreat today. That is the german and 10 year bonds showing yields. Guy that is what happens when you strip things early. The latest concern comes from the Federal Reserve chair janet yellen. She said that debt markets may exist. Equity market valuations at this point are fairly high. Not so high when you compare the returns on equities to the returns on safe assets like bonds which are also very low. But there are other potential dangers there. Guy that is quite a combo. That brings us to todays twitter question. It is simple and straightforward, is janet yellen right . Anna it is a good place to start our next conversation. We are joined now by luke pick more. Luke hickmore do you think janet yellen is right . Valuations could be problematic. Guest i think she is right at some point but not yet. Fundamentally, the lows are too low.