We start in the south of france where the seaside city of biarritz is hosting leaders of the g7 group this weekend. The united states, canada, france, germany, italy, japan and the uk. Theyll all be there. On the agenda, inequality, climate change, trade. This is borisjohnsons first g7 as british Prime Minister. He comes fresh from the elysee palace under discussion there was the uks exit deal with the eu. The Sticking Point is the backstop a condition to keep britain in a Customs Union with the eu if a trade deal cant be struck. This week the german chancellor Angela Merkel raised hopes of a compromise inviting the uk to come up with an alternative solution for the irish border. But frances president macron warned any agreement will not be far from the existing deal. Dont forget, trump is in town. The president has held out the the prospect of a very substantial trade deal for the uk with the us post brexit. As our correspondent damien grammaticas explains, the pressure is now very mu
Could be at risk because of not enough capital. And thomas cook shares dive more than 10 as margins are pressured despite a turnaround in demand for trips to egypt and turke turkey we are an hour into the trading session here in europe so far stocks are just slightly tilting firmer, but not by much on the broader image of stocks on the stoxx 600, the core markets not exactly helping out. The ftse, the cac, the dax, the uk market is slightly higher than the rest. If youre looking for decent gains, its on the spanish stock market that market up about 0. 6 , versus what youre seeing in the rest of the charts the ftse in the uk and the ftse mib selling, but the dax and cac on the flat line in terms of sectors, this is how were perched. Travel leisure at the bottom thomas cook not helping out the Sector Technology down by 0. 4 . Media stocks weaker. Rw in germany moving towards the upside we had a fairly firm move in the price of brent overnight 1 higher. Almost eclipsed by wti, up by 0. 19
Costs. John shrewsberry jiwill join ust discuss the Lasting Impact of fake accounts scandal. Weve been following the scathing critique of bridgewater and ray dalio written in the newsletter last week jim will join us in an exculusie interview. Some of it may strurprise you. We begin with iran today the president just announcing new sanctions will be put in place against the country and decertifying the iran deal after his speech, he took questions from the press, when asked why he didnt just end the deal now, he said this well see what happens over the next short period of time. And i can do that instantaneously. I like a twostep process much better what impact could the uncertainty over the iran deal have on energy joining us to talk about that now, andy liphow, and benjamin sal salesbury. Good to see you both benjamin, just talk at the outset whether this actually does change anything with regard to policy implications, about supply and demand for energy, iran exports, anything like
Meaning facebook amazon, netflix and google now. Not that theres anything wrong with that. In fact, i cant tell you how many people say to me, thanks for f. A. N. G. , wherever i go actually. When you mention something for 50 straight shows others start picking up on it. And more important investors start buying the four horsemen and making money. But on a day that the market is down a tad, the s p is back sliding 0. 05 and then the nasdaq declining 0. 8 , we turn the page on another positive month, i have to tell you that im starting to question whether this whole rally is really built on f. A. N. G. Maybe just maybe its built on something bigger. I say this because im looking at the new high list for the s p 500 today and you know what i saw . I like what i saw. Which is a broad distribution among the 70 companies that hit this august list, 70 out of 500 making new highs. Remember you dont get on that new high list by popularity. There is no electoral college. You get there because y
Futures coming back slightly, but now goldmans out with a new very pessimistic note on the market. Hp is buying samsungs printer business for 1 billion. Were going to talk to hp inc. s ceo about that deal in a cnbc exclusive squawk box, donald trump saying were in a false market. And janet yellen is keeping rates low because president obama wants her to. Well have much more from that interview coming up as well. First up though, futures are recovering a bit after this mornings losses following the friday selloff sparked by those rate hike fears. This morning atlanta fed president Dennis Lockhard saying theres been enough economic improvement, he says, for a, quote, serious discussion about a hike at next weeks fed meeting. Nearterm theres enough economic momentum to basically say the fed has met its goals, in the medium term, mike. Yeah, seemed pretty noncommittal. Obviously they were going to be having serious discussions at the meeting in september anyway. I think the market, the bon