The travel Company Folds under the weight of its debt, leaving tens of thousands of tourists stranded. Brexit goes stateside. Boris johnson takes his bid for a deal to the General Assembly in new york. Labor divisions threaten to undermine its Party Conference in brighton. Brent resumes gains on concerns over aramcos output. Irans foreign minister sounds a tough tone after a u. S. Troop deployment to saudi arabia. Im not confident we can avoid a war. We are confident we will not start one, but im confident that whoever starts one will not be the one who finishes it. Halfhour less than a hour to go until the european open. Im taking a look at a monthlong chart of oil. You can see the break away to the upside when those aramco facilities were attacked. We then recovered to some extent, but we are coming back up in terms of the group rice. Those tensions are building backup. Take a look at what we are expecting in terms of the cash equities open. We have the ftse, cac, and dax futures. Futuresooking at dax looked to be pointing up. Im not sure how dax futures are trading right now. I might take that with a grain of salt. Cac futures are down. Ftse futures are up to some extent. Those are indeed a live cash trade. Im not sure if that dax future is a live cash trade. Mark cranfield in singapore. The markets in japan are streamg a wrench into my here. Overall we saw asian equities down even though we saw the u. S. Government assure us that the cancellation of the chinese farmland tours was at its request and the chinese say talks are constructed. Whats going on . People are more concerned donald trump is not ready to have a partial deal with china. Also, the increase in oil prices. Its going to take saudi aramco a bit longer than expected to get full oil back online. That is slightly disappointing. More trouble in hong kong over the weekend. A week to go until this Major Chinese holiday. We could get another round of protests just ahead of october the first holiday break. That is pretty important as well. Datawe have china pmi coming out in a weeks time. But we saw today was korean export numbers which are pretty horrible, even allowing for a slightly distorted period with a korean holiday. Really simply very bad numbers. That does not bode well for the next bunch of data out of china. A few things which have been coming together here, plus pboc fixing was higherthanexpected. Put those together, there is probably more negatives to look at than positives. You have a slightly weaker market in china in particular. More negatives than positives. Where does that leave the dollar . We heard from Eric Rosengren saying he thought fed policy was already accommodative, denying any need for further cuts. He rebelled last time. What is your latest thinking on the dollar . If you look at it from the point of view, the fed speakers are going to be important. Some people might be saying, the fed have already moved a few times. There is pricing to suggest another rate cut as well. Going to getlar is support here. Reallywant to be negative on the dollar based on interest rates. There probably would have done so already. Leaders at the major the United Nations to discuss climate. There is certainly room for people to come to disagreements here. So many people in the room at the same time. That could also unnerve markets. You have the chinese holidays coming up. Theres a number of small things coming together here with my support the dollar on the basis that it is the biggest, most liquid currency. It has a bit of a yield. Nothing huge. Probably a slight bias towards Dollar Strength this week. Matt it does not look like there is a rush to safety in the dollar right now. That ties in nicely to the mliv question of the day. Our markets mispricing geopolitical risks . What have you been hearing from clients . There is a touch of complacency. If you look around, particularly when you look at performance overall, not too bad. Gold has lost some of its gains. The treasury market, most of the yields have gone up. Look at the way assets have performed the last few weeks. We have moved well away from the point where we were using havens at their extreme levels. Pricing hashat changed. If you look at the rhetoric coming out, we just heard the iranian leader on the news there. It certainly does not sound as though he is ready to have friendly discussions with the united states. Theres plenty of other hotspots as well. Until the beginning of october when the chinese delegation goes to washington, we might see improvement then, but there is plenty of room for misjudgment between that time. When china go on holiday, we have a bit of a news vacuum, at least on the chinese side, which will probably be fueled by what we hear out of the united states. A lot of that has not been very constructive recently. There is room over the next couple weeks for markets to get a little bit anxious about what is going on in the world. The easiest thing for them to do would be treasuries, gold, that sort of thing. Matt thanks very much. Anna mark, think spree much for joining us. Barry much for joining us. Reach out to was in the markets life team. Markets live team. Im here at the labour party annual conference, off to a rough start. Jeremy corbyn is struggling to keep his Party Together. Senior members demand an unambiguous brexit stance. Joining me now is the director general of the british chambers of commerce. Good morning to you. Many businesses quite like an unambiguous start. What do you make of the most recent suggestion from Jeremy Corbyn that the policy is neither leave nor remain at the moment . It is all about getting a Labour Party Brexit deal negotiated with brussels. For businesses, this is all about getting an outcome. The process has been going on for three and a half years. We have seen twists and turns from all the main Political Parties. Businesses need clarity. They need certainty over what is coming. They need to know some basic things about the trading conditions. I think they want all the Political Parties to come together and deliver that. The last vote, you were neither leave nor remain. You were all about the actual outcome for business. If we see another vote, will you have the same stance . We are facinghat is the potential for a disorderly exit on the 31st of october. That is just weeks away. Businesses are sending goods around the world and dont know what trading conditions goods will arrive at port under. We have to get to a conclusion on this. We really dont want to see a messianic disorderly conclusion. Aat is that is what disorderly messy and conclusion. Anna you have measured brexit and no deal. You found out out of 36 areas, 10 are flashing red on your dashboard. One of the gaps when we prepare for the potential for no deal . Firms look at the advice governments are publishing. There is lots and lots coming out. They say, is this clear . Is it specific . Is it actionable . In a lot of areas, that is simply not there. Take for example if you are trading across the border between Northern Ireland and the republic of ireland, there is still no clarity in fall businesses on what would happen in the event of a no deal brexit. The two sides are not putting their positions forward on that in the midst of negotiations. It extends to other things. What staff can you hire . What Regulatory Approvals do you need . These are basic, everyday business questions. They dont have enough information. s government still listening to the bcc . What is left to be said . They are certainly listening. We have had constructive conversations with the opposition here. Oppositionment and are listening to us. Theyre listening to business. They are hearing the real world concerns. The problem is, they have got that outcome they have got to know the outcome. Anna we talked about the branch withn olive business. Did you feel welcome at this years conference . Are big concerns still out there for businesses about some of the partys policy platforms. Some of the things that are voted on in this Conference Center that have to do with business, in terms of nationalization of particular businesses, concerns about unprecedented levels of intervention in individual firms and the way they operate. These are things we are having a constructive conversation with labor leadership on. That conversation has got to continue. At the end of the day, there are points of agreement as well. If you talk about training the workforce, if you talk about fixing infrastructure where we deficits, there are points of agreement. We have got to build on those, but also get to a point where business feels more comfortable than they do today. Anna there are some areas you do agree on. With the news flow in mind, i wanted to ask. Thomas cook. Boris johnson has said to do more would be to create havoc. Can business expect more . s business resigned to this kind of outcome . In every period there are businesses that rise and businesses that fall. It is part of the business cycle. The most important thing is you get economic stability and political stability that firms need. You will see more firms in difficult situations able to navigate through. What we dont want to see is a continued level of uncertainty, continued messy situation. That is when there is more business failure. Anna thanks for joining us today. Up next, ipo mania. ,ompanies set to list this week but after highprofile flaps and poor performances, how will they get on the . More on that ipo frenzy shortly. The annual Bloomberg Business forum in new york. We will hear from the likes of jamie dimon, and christine lagarde. All of that in new york. The u. S. The uns General Assembly also meeting. This is bloomberg. Matt welcome back to the european open. I want to bring your breaking on Deutsche Bank. We have been talking about the fact Deutsche Bank is going to transfer its prime brokerage unit to bnp paribas. 1000ll with that transfer staff. There will be 1000 employees. Deutsche bank is expected to close the deal by the end of this year. 1000 staff, according to staff, will be going with them. Anna another reason to keep an eye on Deutsche Bank before we get to the start of trade. Lets talk about what is to come this week. These are the things we should be watching. Continues inrty brighton, where i am this morning. We will be watching for any shift in brexit policy. Programon the economic finishes wednesday. The uns General Assembly kicks off tomorrow. World leaders are gathering in new york to discuss everything from Climate Change to geopolitics. In particular focus, the trade war and fallout from the attack on saudi aramco. Matt bloomberg hosts the global Business Forum on wednesday. Speakers include christine lagarde, mark carney, and prime ministers modi and arden. Plus, the new Italian Government will unveil an Economic Program by friday. Prime minister Giuseppe Conte has a tough challenge. Lets get now to the bloomberg first word news. For that, we go to selina wang. Thomas cook has filed for administration the travel company failed to raise additional funding, collapsing under a mountain of debt. All thomas cook flights and vacations have been canceled. The government will now work to bring holidaymakers back home, calling it the longest repatriation in peacetime history. As doubtsthe raise remained over how quickly saudi arabia can restore its lost output. The wall street journal is reporting that for repairs to the oil fields may take many months. It says officials are privately in emergency talks and costs could stretch to hundreds of millions of dollars. Police and protesters lashed again in hong kong this sunday. Violence erupted in several parts of the city as unrest continued for a 16th week. Bracingg is breaking for a surge in demonstrations. Next week is the 70th anniversary of the founding of the peoples republic of china. Global news, 24 hours a day on air and tictoc on twitter powered by more than 2700 journalists and analysts in more than 120 countries. This is bloomberg. Selina wang in beijing with your first word news. Areturn to Public Markets as string of companies are set to price offerings and debut shares, but after highprofile flaps and poor performances, how will these Companies Fair . Belets kick it off with a in bev. It is set to price monday in hong kong. The company is seeking to raise 4. 8 billion dollars. This would make it the secondbiggest ipo of 2019. The is roughly half of what bloomberg targeted earlier this year before relaunching. Lets stick with hong kong. Wednesday, a Biotech Company makes its public debut. Both of these are really going to test inventor sentiment. They are the first listings in hong kong since july. Aemier is planning to list German Software company. Team viewer. Its going to be one of the biggest in europe this year, expected to raise between 1. 4 and 2. 3 billion euros, listing again this week. In the u. S. , the home fitness is planning to list wednesday. Already, there is skepticism on wall street. Investors are decidedly mixed according to a survey from orenstein on more than 40 potential buyers. No stranger to skepticism, we have to mention wework, whose listing planes have been derailed. The working company has delayed its ipo. We have doubts about valuation, about governments governance. It may be postponed until december. It has been a tough environment for new listings. It has been very difficult to see how these fair. We work certainly interesting on a number of levels. Morning theen proliferation of coworking spaces could pose new risks to financial stability. We are minutes away from the open. We are going to look at your stocks to watch, including thomas cook. Matt we are five minutes away from the start of trading. Stocks to watch from around the , focusingcovering tui on Deutsche Bank. What can we expect on tui . Collapse,homas cooks tui premarket indicators are strongly up. Expecting ae, it is one time charge for helping rearrange travel for stranded thomas cook customers. Also, another bit of fallout from the thomas cook collapse europeshe stoxx of smaller and weaker airlines. Matt thanks very much. What if you got on Deutsche Bank . Completing the transfer of its prime brokerage unit to bnp. This was announced in july, so some of it might have been priced in. They are set to transfer 1000 staff members. Matt thanks very much. You can get all your latest stock stories from our Equities Team by typing first go on the bloomberg terminal. You can get it from your mobile app as well. We are expecting a mixed market open this morning. The stock market open on the other side of this break. Matt a minute away from the open of cash Equities Trading across europe and the u. K. Lets take a look at what the markets are doing. We go to Annmarie Hordern in london. Annmarie good morning. Asian equities kicked off the week to the downside, msci asiapacific down under 1 10 of a percent. Csi 300 dropped more than 1 this morning. S p futures in the u. S. Are higher this morning. Trade is back and focus. Richard jones says the bar is high for an agreement. It will be difficult to get a powerful rally in equities. On the british pound, trading around one spot against the u. S. Dollar. This is as the labour party kicks off their conference in brighton. Brent crude up about 1 . Heres how futures are ahead of the open. A bit of a mixed fixture picture. Euro stoxx 50 lower, and keck futures lower in france, down nearly 2 10 of a percent. Its now gone just 8 00 in the city of london. Lets look at how the markets are Opening Monday morning. Ftse 100 opening up flat, but a bit of an eke to the greenside. We see in Foreign Exchange the british pound and they are at the labour Party Conference. We have the euro stock 60 opening to the downside and spains ibex opening to the downside. In europe, mario draghi speaking this week, not just about trade. We have pmi for france in 15 minutes, germany at 8 30, and eurozone at 9 00. We are seeing a bit of red across markets. Germany opening up three per 3 10 of a percent lower. Quickly scanning the grid, i see financials in the red, as well as industrials. Interested to see how gas does. Ended the week having the best week in more than a year as brent crude rallied from 7 last week. Geopolitical risk, questions about when the kingdom will produce the last output arise. Also in consumer discretionarys, this is where leader stocks it, what kind of hit thomas cooks will have on that. Were seeing a lot of red across the sector picture. Health care firmly in the green. What leasing across individual movers . Matt i see health care doing quite well. Look at the stoxx 600 here. Weve got 362 stocks down, only 200 up. Winnersmore losers than right now, basically 74. Astrazeneca, nora nordisk, novartis, diageo all could be considered health care stocks, rising this morning, adding points, keeping the stoxx 600 back from bigger losses. You do see, on the downside, sap fulling pulling the stoxx 600 down. Some of the tech stocks down this morning, as well as some of the luxury stocks. Louis vuitton and caring are both on the downside here among the biggest drags on the stoxx 600. We also see glencore down this morning, fickle bilbao, a lot banco finkel Bilbao Bilbao down. The ftse is getting slightly as investors monitor latest elements entry talks latest trade talks. You, howart by asking do you think the trade talks are kicking off to start the week . Well, some noise a bit earlier about cancellation of visits on farms, but it seems like that was part of the scheduling. And so, so far so good. Both sides have made good gestures to create a right environment. A massivee