Cook. He will talk about product, politics and terrorism. Conflicting reports from Banco Popular paired popular. Is there a buyer waiting in the wings . Just 30 minutes until the open of stocks in europe. First off, lets check. Qatari stock market, right now what you are looking hang on for a second is yesterdays trade. Yesterday we saw a drop of 7. 3 , the biggest for qatari stock by9 after they were cut off four other gulf nations including saudi arabia. Today, we are seeing a less steep drop for qatari stocks. Down at about 2. 2 to an even 9000. We will keep a night on middle eastern stocks has this problem is being worked out. President trump assures the world he is going to step in and deescalate the situation. As far as futures are concerned in European Equity indexes, take a look at my screen. This is a weei screen. Youk on the futures box and get the mispriced calculation by bloomberg. Like we will see a down open across the board, the exception of the ftse in italy and the omx index in stockholm. The ftse, cacfor and the dax indicated for the open. Check out the bund trade here. Halfhour ofst trade and last nights trade for the bund. Yields are coming down as investors are buying up this debt. Are seeing this safe haven run across the board in the overnight trade, asian stocks going down, traders going to safe havens. , someesterday pentecost markets playing catchup. Be aware of that. What is interesting is overnight, we see asia selloff. It doesnt look like europe will a mildly going to see negative open in europe, but not the kind of magnitude we are seeing in australia were markets are down 1. 5. No change from the reserve bank down there. The nikkei was off by nearly a percent overnight. Begin safe haven trade. Dollar index down. 2 . We may be resetting the clock when it comes to europe with a more manageable kind of mood move, but a big down day yesterday and overnighter asia. I wonder whether we are setting the clock in europe. We will try to figure out which to theas we make our way open. Lets get a bloomberg first word update with juliette saly. In australia, Islamic State has claimed responsibility for a hostage in melvin taken that left three Police Officers injured and another dead. Following a standoff, officers shot a 29yearold after he fired at police with a shotgun. He had taken a woman hostage and it is believed by police to have killed the receptionist. Has saidhief executive the company helped u. K. Officials investigate terror attacks. More pressure has been put on Technology Companies to prevent services from being used by islamic extremist. We have been cooperating with the u. K. Government in not only Law Enforcement matters, but on some of the attacks i cant speak in detail about that, but in cases where we had information, and they have gone through the lawful process, we have not just given, but we do it very promptly. Juliette the u. S. Said it will a white house spokeswoman said President Donald Trump wants to deescalate the crisis and is committed to holding talks with all parties. The saudis and three regional toies suspended flight calcutta, sending qatari spot stocks plunging. Solidarityt night in with the victims of saturday nights terror attack. Thousands gathered near London Bridge to honor the seven people and dozens others injured. Event came as donald trump took to twitter to criticize the mayor, one of britains most popular muslims. Boris johnson will today claim that only theresa may can get brexit right. This comes two days before the general election. The focus of the campaign is changing to the welfare of retirees. Global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. This is bloomberg. Matt . Very much. S lets check back in on the starry qatari stock market. 1. 75 . Ly down yesterday, we were down 1. 25 percent on qatari. It is not taking the kind of hit it was yesterday. It was the biggest drop since 2009. To keep an eyee on this, it is a huge issue for the markets. Thursday is a big day for the markets for a couple of reasons. On thursday, also the ecb decision coming on thursday and former fbi director james comey is testifying in front of the senate in the u. S. Which of these events will have the largest Market Impact . Mark cudmore joins us from singapore to help you set up for that trade. What do you think . Which we. K. Elections, are not going to be able to discuss on thursday because of the regulations in the u. K. Rates,u have the ecb that will be in estonia, i am going to fly in for that. We also have james comeys testimony in front of the senate. Everyone is chomping at the bit to watch. What will be the biggest market mover . Resolve thent debate today. As you pointed out, the events arent simultaneous, it will be the ecb first. The reserve you view amongst the team there is a risk of a less dovish statement from the ecb. That will have a Significant Impact after draghi sounded dovish last week. The ecb surprising in a hawkish slightly more than expected, will have global implications. Of course we have the u. K. Likeion and it does look it will be a conservative majority but there is a risk of a hung parliament. Therefore, the market is on this divided. The comey testimony, recently u. S. Political events havent caused sustained damage to markets. There is a serious risk that comey with this culture of note taking might suddenly have something more deeper implications on trump, or if he doesnt produce something more already,than leaked markets may have a relief rally. Three big events, markets are deleveraging in advance of those and we probably wont see much action in the next 48 hours. Guy lets come at this from a different direction. Where is the greatest potential for twoway risk . Mark good question. But we are noticing is sterling as a pair sterlingeuro as a pair is trading weaker. You would think it would be perky at the moment. All the news in the u. K. Is negative. We know the longterm fundamentals are negative beyond the election. The brexit in negotiation and the cap deficit. Trading ok. Is on the flipside, euro is looking to struggle to make for the ground despite the fact we are seeing more analysts get on the bandwagon. It shows the position in eurosterling is the market is euro and already short sterling, therefore the easier site for eurosterling to travel is probably lower. Guy mark, thank you. Growth re, matt macro strategist. Are two ways to get access to this ongoing story. Mliv or tliv. Debate,ant to join the you can use the tv function here. Normally we talk about the sidebar here, which is fantastic, but when i want you to uses this function down here, the ask a guest a question. Get involved in the conversation. Get your views across, joined the debate. This is an interactive product. You can ask the guest a question, allows you to use the your bloomberg. Lets talk about the political story in more detail. The polls are critical. Prime minister theresa may to resign amid funding. Third terror attack in less than three months. May has offered that her rival would on be an piano be unable to keep the country safe. The conservative lead is as narrow as four percentage points. Lets get to anna edwards. Anna thanks, guy. Good morning, matt. You mentioned the latest polling. We had another poll overnight that said the gap between the tories and labour are only 1 . The message is the polls have been narrowing for a couple of weeks. Lets get a pollsters expert view on what is going on. Good morning to you. What is your take on the latest . We havent had anylets get a pe saturdays attack. Is this going to have a Material Impact . We cant know until the polling is back at my thinking is it probably wont. If you go back to manchester early in the campaign, saw a small increase in the gap in favor of conservatives over the weekend following that. That is understandable given the government monopolizes the news immediately after these things. They are the people Offering Solutions and can explain the details and things. Even then, the cap went from 5 to 7 , then back the following days. Gotten back on the offensive with things where that was different the other time around. Maybe but i dont think so. Saying terrory events always lead to better performance by right of fence parties in elections. Spain in 2004, one example they site. What is your experience there . Joe if you look at experience in this country, whether it is etc. , there is not much change in the polling. And you look at things that happen in campaigns and other there hasnt been Much Movement either. Spain has been the only real exception and that was suggested to do with the way the government handles the attack in when itming turned out to be al qaeda. I created that feeling and made a difference reported to have made a difference. I dont think it will happen this time. A rainyre standing on day, rain is one thing that affects turnout on election days. Other things affect turnout food it. Are we in danger of some collect oral fatigue care here . Is theere certainly potential. For some it is the third in three years, i could have an impact and turnout will be crucial in this election. As pollsters, we are interested in new people support, but the most important element is whether people turnout or not. It is that that determines the result of the election, and how they turnout in each of the 650 constituencies in this country will determine the winner. To better for britain, who is here with us this morning, she took the government to call and was suggests successful. She is involved in the campaign, pushing for Something Like a softer brexit. She was talking about turnout and suggesting turnout matters and they have been influential on getting in people to register to vote. That is something we have seen, young people registering to vote . Joe yes, millions of british vote and many are young. Analysis of the similar phenomenon in the Eu Referendum those people were registering again because of information or simply with no need to do so because they had seen they must be registered to vote. In the Eu Referendum, it didnt make much of a difference, we dont know what impact it will have your. Certainly the turnout of young people, who have a historical lower level of turnout, could determine the size of the majority of the conservative government or if they get a majority at all. Anna what about the ability we this is the problem with the electoral system. Model that tries to do that. How confident are you this is good at what it is doing . Joe in the old days, you turn on the tv and people talk about the swingometer. For geeks like me, that is interesting but we know that doesnt work anymore. The kind of swing happening across the entire country doesnt happen because of scotland, it all gets very complicated. We have tried to replicate that and it is an experimental model which we think will provide a better insight. The proof will be in the pudding. Our latest has a full range of possible outcomes. It can be anything from 275 seats, which would mean a hung parliament, to 345, which would mean a majority of around 20. Broad range. Anna joe, thank you very much for joining us. Matt . Matt thanks, anna edwards there at a rainy westminster talking about the election coming up. That is this thursday. Apples chief executive has said the company helped u. K. Officials investigate the terror attacks. Tim cooks exclusive interview with bloomberg comes as the third terror attack in britain in less than three months has put more pressure on tech theiries to protect services from being used by extremists. In an interview, emily chang asked cook if apples new operating system helps strengthen user security. Attacks, andorist her heart goes out to everyone affected by them. Horrendous and the u. K. , for us, we have been in the u. K. Pretty much the whole links of time for our company, and it feels like they are a neighbor. We have thousands of employees there, and so our heart goes out. So what do we do for helping with this . We have done since the beginning of the app store, we curate the app store. We dont want hate speech on there, we dont want these kind of recruiting things on their we have tried to be very careful from the beginning about not having that stuff on their. Im not saying will never make a of ake, but i dont know case were something has gotten through from that perspective. We are very vigilant on what happens from that point of view. We have also been cooperating with the u. K. Government in not matters,enforcement but on some of the attacks i cant speak in detail about that, but in cases where we had information, and they have gone through the lawful process, we have not just given, but we do a very promptly and so, i would hope they would say that we have been cooperating well. And i think that some valuable information. There is a misunderstanding about encryption doesnt mean there is no information. Likely metadata exists and if you are putting together a profile, is very important. Emily can we assume that apple is making encryption stronger . Tim the reality is the cyberattacks on people and governments it is happening left and right everywhere these affect your safety, your security. So it is not just privacy. It is not privacy versus security, it is privacy and security versus security. So we are always working to try and stay one step ahead of these hackers that, frankly speaking, have gone from the guy in the basement that is a kind of to a sophisticated enterprise. It takes all that we can do to do it and we dont think our users should have to think through all of these it is not practical for people. We try to stand up for users and stay one step ahead of these guys. Tim cook speaking to emily chang. Up next, airbus. It is downgrading production of its a3 80, a lack of orders an issue. Ahead of the paris air show. It always rains at the paris air show. The open eight minutes away. This is bloomberg. Welcome back. We continue to watch a number of stocks ahead of the open. Banco popular on the radar screen. The seemslender to be ambiguity surrounding whether they will be meeting with the ecb to discuss emergency liquidity. The ecb is saying it is perfectly informed of pop alarms situation. Populars situation. We seek clarity on the situation. We have seen a very sharp drop in the stock price. The other stock i want to mention is airbus. 380 program, the superjumbo. We are going below rate one. They will be making less than 12 a year. This ahead of the air show, the flagship event in france, paris outside of paris, in which the 380 has been a crowdpleaser. This seemed to be struggling to be market please her. Getill be interesting to mr. Clarks view as to whether he has more orders and mine. He would like a rewinged version of this aircraft. Need to talk about the oncology state. Fell yesterday in the u. S. Trade 8 in new york. It is coming down looks to come down in europe as well after their new Breast Cancer drug barely beat the old one. The old one came out in 1998, the new and doubles the monthly cost but may not be worth it. We will watch that at the open. This is bloomberg. Guy minutes tilde cash open. Five stocks go ex dividend today. If you want this function, that will produce for you some numbers. Five stocks going ex dividend. The editing and want to mention, we have been talking about the fact we have got germany closed yesterday as was switzerland. Following the fair value calculations, points to it a bigger drop on the tech around. The cap. London looks a little better. I am looking at the haven assets. Library. E you can see gold and begin in blueandwhite but the 10 year yield in yellow. Investors are piling into haven assets. Guy markets are opening. Ash is opening, but we have bit of catch up this morning. And negative session from asia overnight. We expect a mildly negative open in europe. Interesting to see how key stocks perform. Down reasonably hard. London opening softer, down. 1 , the cac down by a little more. We will break down the individual stocks. Germany playing catchup. Yesterday, soft opening because of pentecost. Thats get details. Gilts opening now. Manus not just the u. K. Political creates Political Risk. You have middle east risk, how these risks over the ocd manifest themselves. We look at the risks on our map today, it is about the ecb and the polls narrowing in the u. K. More from and on that. Financials down, bengal popular, what happens next . In terms of the spanish lender, euros worth billion of nonperforming loans. It is a critical test in the ecb and the Banking System around europe. Stocks are lower, but in the euro, there is a fervor in the market in regards to europe. The market has positioned itself aggressively, the most aggressive long positions in six years. 91. 44 is your ticker on that. You mentioned the gilts. 1. 02. Two year tenure, a 35 year high. Outlier to consider an possibility, and labor victory. That would be a bigger risk to the gilt market. It is not the consensus position, not the given position. They sold treasury, sold gilts, it is an outlier risk. For gilts would be conservatives achieving a smaller majority than they had in the last parliament. That would take you to around. 9. Cracking story on the terminal this morning. Those are beyond consensus. That is worth considering. Shanghai composite up one third of 1 . Seeing a little move higher. Commodity stocks down 1 8 of 1 . Price on your opening roche. Down nearly 5 . Im off to radio. Guy thanks. About the stock story in a little detail. Five stocks going ex dividend, well represented on the screen. Dividend, this guff and going ex dividend. Another interesting stock stories we are paying attention is down by 4. 76 after disappointing oncology news. Have bank a popular down 2. 07 this morning. Ambiguity surrounding its relationship with the ecb at the moment and whether there will be a meeting between the ecb and its chairman. Lets take a look at where the upside stands. These are percentage gains. Pandora, kara up. Interesting downside stories. 20 of exdividends to be aware of. Story, just two days away from the general election in the u. K. As Jeremy Corbyn and theresa may make their final pitches for votes. Markets brace for a bumpy ride. Lets talk about volatility. One week, one month volatility spiked higher. Capturing the risk event. We have other risk events in the next few days including the ecb, lust the testimony of mr. Comey. Were watching carefully. Joining us is an fx strategy at ing. Good morning. Lets start with the pound. Kohls have tightened, we take our choice on which we dont believe. How is the market set up