than 28,500 euros. pastean etf assets soared the trillion euros in 2020, cash flowed into equity funds on vaccine optimism. intelligenceberg wreck globally, bloomberg intelligence ranges trade-weighted options over $1 trillion in 2021. let s go to paul from newton in management from newton management. see it playing out next year? paul: well, i think the positive development here is that the active atf market is growing, and that is something which should be to the benefit of active managers. for pasteen the news investment, but actually etf s will be a growing market, and that means more will be available for investors and that .ould only be a good thing also the fact that the asset, arepoint at markets respected on a more discerning basis. matt: we will get more from paul markham in a moment. i want to get to brexit. agreed aand u.k. have trade deal, but it is a trade deal that does not include services, leaving the city of london to face the new year with more uncertai
down without demand. ryanair says the risks are skewed to the downside as the ceo called the new lockdown political mismanagement on a grand scale. welcome to the program this monday morning. just under one hour to go until the start of the cash equities trading session and futures look like this. it will be moving to the downside. the u.s. session on friday, particular tech stocks taking a hit. you might expect negativity coming through. let s have a look at u.s. futures, a slightly different trend for us this morning. no trend, in fact. fairly flat. theaw a definitive move to downside on friday. there are a number of themes in play as we go into this, not least of which the u.s. election and the fed. the chinese data we had out overnight, interesting of course for markets but really from a european perspective, we are focused on what is going on with the left story across europe and we will be thinking a lot about that and talking to our guests a lot about that as we go t
london mayor sadiq khan is set to recommend more restrictions. bruised. leaked documents related to troop $2 trillion in transactions, showing banks profiting from powerful and dangerous actors, even after the u.s. introduced penalties. low inlls to a 25 year hong kong. plus, pet review. the eu starts an evaluation of a pandemic bond buying program. policymakers are expected to discuss how long they should continue as well as whether or not they should widen the rules for older programs. just an hour away now for than the start of from the start of cash equity trading in europe. let s look at where markets are pointing us futures are pointing us. a drop in asian stocks. ftse futures off one full percent. concern of course about further or another renewed lockdown driving that market down further than the others. you see dax futures up 0.8%. look at u.s. futures, not down as much right now. looking at a drop in u.s. across the s&p, the dow, and the nasdaq, about 0.5% rig
cash trade. here are your top headlines from the bloomberg terminal. trumpâ on the defensive. the president stands by his handling of the coronavirus on day one of the republican national convention. says democrats are still blaming america first nikki haley says democrats are still blaming america first. the chinese arrives in europe today. demandsla merkel answers from russia after it was putin critict the was likely poisoned. we have figures crossing the wire right now. the german economy shrank 9.7% in the second quarter. the initial estimate was for a drop of 10 point 1%. this is a second look here, and so it looks like it is a little better than expected. still, of course, a massive drop , the quarter over quarter figure. the year-over-year figure is a drop of 11.3%, so a big drop in the german gdp. that the bloomberg economists expect a rebound in the second half, and of full-year drop of about 6% for 2020. let s take a look at what futures are telling us after the
and we expect a normalization of that. but you need to remember as well that in our case, we have been working to stabilize, grow the franchise, recover some market share, so what we are pleased to see is that underneath that sort of outperformance in the market environment that we have been in, we have seen really good franchise stabilization traction , client engagement, improvement in clients. we think that bodes well for the future. you are expecting slightly higher revenue for the full year. not too conservative now given what we have seen in the first half? it: it would be james: would be a normalization but i think an improvement on last year s second half. again, especially in our businesses, where a year ago, we were going through a restructuring and there was some uncertainty around our people and franchise, so with that now behind us, we see momentum in the core business, and we would like to see a second-half performance well ahead of last year s second half,