Overshadowed by allegations of sexual assault. The Prime Minister denies those allegations. The u. S. Ways place down turnt, but asian stocks lower. The king of ipos, ab invevs Budweiser Brewing unit surges on its first day of trading in hong kong. Breaking the trend of lackluster debuts party debuts. We are 30 minutes from the start of european trading. Take a look first off at the treasuries trade in my terminal. This is a threeday chart. A big spike as investors are selling the debt. The question is, what does that mean . Are we looking at more of a risk on session now . If you look at futures, there is still a very mixed picture in terms of what we see happening in german futures. They are up a little bit. Dax futures are down a little bit. Really not a lot of indication as to the direction we are going to see. Up for moreing Political Action today as the conservative conference. Anna absolutely. Let us remember this has been an event that has moved markets. We have Seen Movement in the pound as a result of things set on stage here at the conservative Party Conference and things that have happened at fringe events as well. Thats why we are here. The big message the government wants to push home here, overshadowed by the controversy, what was the extent of the relationship between Boris Johnson and an american female entrepreneur who received money from the Mayors Office when Boris Johnson was the mayor . He denies allegations that he assaulted a female journalist. That is all swirling around. The government is trying to ram home a different message around getting brexit done. Investing in the nhs, in infrastructure. Of that really falling to the background. Getting brexit done, that seems to be the big message the government wants to ram home. We are keeping one eye on whats happening here in manchester where in. We are very much keeping our other eye on westminster. Normally you would not see much action during a conference. That is not the case this time. There is nervousness about what the Opposition Party and rebels might be planning down the road in london. Back to the to get markets . Cranfield, are bloomberg mliv strategist. It looks like the trade story has driven the mixed picture in equities over the past couple of sessions. The question is will the u. S. Look to limit Chinese Investment . Will the chinese continue to open Financial Markets . Verydeed, it is making it difficult for people to make up their minds what to do. They have the chinese holiday coming up, would already put people on the sidelines. This is just making it even worse. What do you do in this kind of that is being threatened . Market restrictions are a serious thing to talk about. Difficult for the United States to even do such a thing. Surely if the United States was ready to pursue it, there would be reaction from china. Certainly making investors extremely nervous as to what kind of route this may take in the future. It is just adding to what is already a confused picture ahead of the chinese holiday. The hopes for trade talks after those holidays of course have also been put in jeopardy as well. The chinese have clearly said they want to see things on equal terms. When you put these questions into the markets as well, its no wonder the yuan is weaker. Chinese equities softer as well. Is a couple of days, china not around to respond to this, but we could get high volatility when there markets return next week, in fullscale, that is. We are going to be without china, of course. Friday was the last trading day before the chinese holiday. Today is the last trading day. Let me ask you the question of the day you have been dealing with on the markets live blog. How far can stocks rise without china . There could be nervousness. Revelations next to bloomberg reporting partially walked back by some in the white house, what is the thinking about the link between u. S. Stocks . This china even without those question marks from the u. S. Treasury, isn china is away, liquidity sucked out of Global Markets. Maybe it is just a coincidence. Exactly a year ago when Chinese Markets were on holiday, the u. S. S p 500 went through quite a big decline. October was a terrible month for the u. S. Markets last year. About 7 decline approximately. There are other factors going on at the same time. Certainly china is a big liquidity provider to Asset Classes across the world. When they are not there, that does take away the support for markets. It may have already been a headwind for the u. S. Markets this week. Course, there were compensating factors from the u. S. Theral fed speakers over next few weeks. To a ratek on track cut later in the year. When you take away china, it is a big factor in markets these days. It will not be easy for markets to rise u. S. Stocks to rise. Saw demonstrators setting subway entrances ablaze in hong kong, throwing molotov cocktails at police. These protests are set to intensify over this holiday. Are the markets bracing themselves for more unrest in hong kong . Or are the markets used to this and brushing it off . Enough, hongly kong markets have been relatively sanguine. They seem to have reached a point where most people who are really nervous, the Hong Kong Market knows fairly comfortable with what they have. There are some stocks, the hong kong dollar curve is flat considering the risks are skewed toward volatility. That is probably something which is reflective of the relatively quiet markets. Remarkably, hong kong stocks are having a decent day today. Ipo. A successful there are a few things going on keeping the Hong Kong Market a little bit stronger than you might expect. When you look ahead over the next couple of months, there are certainly bumps where it could easily derail the market. Its going to be very hard for people to get really excited, to get very bullish about hong kong in the background. At the same time, the most bearish people have already stepped aside. Anna talking about bumps in the head, could be talking about u. K. Politics. Im here at the tory Party Conference. A lot of talk about getting brexit done. In fx markets, you see increasing heading around december volatility. Markets are looking at those periods, the eu leaders summit, the possibility of elections, what is your latest thinking on brexit . Remarkable. Options are still on the table, which really does seem bizarre seeing it has been three years. One of those which is starting to weigh on people is we did have another extension to brexit and then we may have to price in the election which takes place between now and the early part of next year. That is going to be difficult for markets to adjust to. If you look at the options curve , its not really for an election, which forces the issue sometime around january or february next year. That needs to be adjusted. It is probably one of the reasons why you see the pound is weaker. Also, this uncertainty over whether an election may take place. The polls tell us the election outcome looks to be fairly clearcut, but who can trust the polls after results we have seen over the past few years. All these things are now coming back for people to reprice into sterling curves. These things will have to be done over the upcoming weeks. There is still room for volatility. There might be a positive outcome on the pound. It is very difficult. Anna matt welcome back to bloomberg markets. This is the european open. Red arrows across the board. A mixed picture earlier with dax futures still clinging to gains. Those look to have been given up for now. Still not a lot of movement. We are getting headlines out of jp morgan saying the bank now thinks european equities, euro area equities should be an overweight in your portfolio. Jp morgan is recommending an upgrade to euro area equities. Joining now ubs. A couple of the big banks are recommending european equities. Lets get the bloomberg first word news. For that we go to london. President trump is calling for the democrat leaving the house impeachment inquiry to be questioned for treason. He is demanding to meet the anonymous whistleblower who launched the complaint. Pelosi is telling cbs news she is calling on President Trump to cooperate with the inquiry. Oath of office to the constitution of the United States. Speak the truth. Let us Work Together to have this be a unifying experience, not a dividing one for our country. Dont make this worse than it already is. Saudi arabias crown prince is morning war could bring down the global economy. Mohammad bin salman saying the price of oil would go unimaginably high if the country went to war. He urged the world to take firm action to deter iran, adding he prefers no military oppression tehran. N pressure on the region represents 30 of the world energy supplies, 20 of will trade passages. About 4 of the worlds gdp. Imagine all these three things stop. This means the total collapse of the global economy. In austria, Sebastian Kurtz is on track to return as chancellor. Theples party leading candidate for Coalition Partner tripling their share of the vote. Negotiating a deal might be tough. Global news 20 hours a day powered by more than 2700 journalists and analysts in more than 120 countries. This is bloomberg. Anna thanks very much. Back in manchester at the conservative Party Conference, our attention in goebel markets is on trade tensions between the u. S. And china a Global Markets is on trade tensions between the u. S. And china. A treasury official said washington has no plans for growth at this point to take such a step. China vowed to continue opening up its Financial Markets ahead of the next round of trade negotiations. We are joined with the latest. Positionhe u. S. Latest coming out of the white house . The Treasury Department put out a very narrow denial of the story. The question of whether the u. S. Would stop Chinese Companies is only one of the options apparently being discussed within the government. Like arguments were things stopping u. S. Pension funds from investing in china, stopping u. S. Flows from going in chinese stock and bond markets. Different number of problems the u. S. Sees with financial contact with the chinese economy. The treasurys denial that for the time being it is not looking at chinese currency listing on stock exchanges is only addressing one part of that. Obviously, as we reported friday, these are very early discussions. What policies that could lead to , still very unclear at this point. Notu. S. Government has denied these discussions are ongoing and they are looking at how they might decouple the u. S. Economy or the Financial System from china. They are mulling these things. What has chinas response been . There has not been an official response from the Chinese Government yet. There were reports on sunday about what had been reported. That this treasury denial but there has not been an official statement referring to these reports. The ministry of commerce had a press conference where they did not address this issue at all. They did release a statement saying they would continue to open their financial sector, which is what they have been doing now. Gradually, they have been opening more of the financial sector, allowing for Financial Services companies to have full ownership of their companies in china. They are increasing the amount of money in the mainland stock exchanges. They released on the weekend as a response to what was reported friday. We dont know that for a fact. It just seems to be the pattern suggests thats what they were doing. China is open for business even butu. S. Is looking to there has not been any official report. Anna thank you. The latest on the fascinating new development in the capital war. Lets take a look at what you should be watching out for this week. The u. K. Conservative Party Conference continues in manchester. We will be bringing you the latest from this event throughout the morning, including some key interviews. Chinese markets close tomorrow for a sevenday National Holiday as the peoples republic of china turns 70. Also tomorrow, a Rate Decision the rba. The central bank is expected to cut rates are the first time in five months. The third time in five months. Matt the reserve bank of india is expected to cut friday as the country grapples with a negative output gap and below target inflation. Plus, it is the all important jobs day in new york. Washington, really. Nonfarm payrolls are projected to have risen in september with unemployment steady at 3. 7 . We will have someone stationed in the capital under lockdown until those numbers are released. We are minutes away from the open. Next, a look at the stocks to watch this morning, including ab inbev. The asia unit is rising in hong kong after its listing. This is bloomberg. Anna welcome back to the European Market open. Lets get around the newsroom and have a look at what the team has picked us there stocks to watch. Annmarie hordern is looking at ab inbev. I burger is focused on of abuccessful launch inbevs asian unit, rising 7 at the debut of those shares. They raised about 5 billion last week selling shares. The bottom of the price range. Thats going to help ab inbev reduce its massive debt load. It is a bit of a vindication. This is the second attempt at their asian listing. Lets get to. What is the story with kpn . About 3 are trading to 5 lower. Leroy is under investigation about a possible Insider Trading in shares of a former employer. The chairman said it was a difficult position, but the certainty is the uncertainty is not in the interest of kpn shareholders. With what is the story sophie . The Pharmaceutical Company ofking at buying one their big treatments is for liver patients. This is valued at millions of dollars, cash, debt as well. We expect declines here. Typically the one doing the acquisition has a bit of a dip on the day. All for joining us. Get the latest stock stories by typing first to go on the bloomberg. Sometimes your small screen is your big screen. And with the Xfinity Stream app, which is free with your service, you can take a spin through on demand shows, or stream live tv. Download your dvrd shows and movies on the fly. Even record from right where you are. Keep what you watch with you. Download the Xfinity Stream app today and get ready for Xfinity Stream tv week. Watch shows like south park and the walking dead october 7th through 13th. Matt a minute away from the open cash equities trading, lets take a look at the market. An recorder is tending by. Annmarie Annmarie Hordern is standing by. Annmarie good morning. Msc i asiapacific down. While they seem to be expectations beat expectations, still below 50. 1. 7. En trading at we could see it rallying, given geopolitical risks. Analysts are about 1. 05, the pound study at 1. 22 as manchester now plays the main epicenter for fx traders, not lender this morning. Pvr for futures, ftse 100 unchanged, text features to the upside, and tech on futures softer. You can see is relatively flat across european futures. Mixed session across asia. Its now 8 00 in the city of london. We do have your market opening up this morning. Ftse 100 opening up flat, but a little bit to the downside. As i was saying, manchester takes center stage, especially with fx traders, as we have the tory Party Conference having their meeting. Anna edwards on the ground. She says the banners say get brexit done. Boris johnsons speech is critical this week. Euro stoxx 50 relatively flat. Softer swiss franc, a little bit softer u. S. Dollar. Netherlands to the downside, 2 10 of a percent. Frances open flat. We are seeing a relative flat date across the picture. Lets look at sectors. A quick glance, financials to the green, health care to the green. Energies and materials a little bit mixed. Interesting because basic resources with the biggest gainers friday. The pmi data could help midners today miners today. Matt, individual movers, who are you looking at . Matt its one of those strange days where we have the stoxx 600 index down, but more winners than losers trading here, 300 or up, about 215 are trading down. As far as winners are concerned, gsk putting up a gain of three quarters of 1 , such a big stock, that its adding the most points to the stoxx 600. And then some banks on the gain this morning. Hsbc is up, franco santander. B. N. P. Paribas is a gainer this morning, as well. On the downside, total and nestle are swapping places for the biggest drain on the stoxx 600. You can see nestle is only down a quarter of 1 , but its one of the top three stocks in terms of weightings on the stock 600. It takes a lot of points away with a small loss. Total is down this morning, as well. Though you dont see will you do cbp also falling, so a couple of the big oil names down, as well as some of the other pharmaceutical names. Roche is down. We see a mixed picture this morning in terms of the breath. There isnt much to the upside. You still see European Markets falling in terms of the broader stock 600 index. Anna . So a little bit of weakness coming through, a lack of direction for the equity markets as asian stocks end the day mixed. U. S. Point higher following a denial washington could pose box blocks. Joining me is bob. Great to have you with us. We saw these reports friday, the extent of which the trade war could be turning into a capital war between th