behind me, you see the athens exchange. what it really is, it is an attempt to prevent a backdoor for capital flight. that's the big concern. that's why we have so many restrictions in place area -- in place. they've put out numbers in terms of where they are in capital. all roughly in line with estimates. what we have here today, opening starting in about 15 minutes, we are going to see just how far this exchange has come, how vulnerable it is, and how much price swings will be taking place. there are new provisions that make it easier to halt trading if indeed there is a precipitous drop in a stock. the old rules, where it went down 5% in a 10-minute -- excuse me, 10% in a five-minute devonte, they hauled trading. rules, there are going to be some itchy triggers to stop fast declining stocks. that's one of the safeguards they have in place here. jonathan: if we were to play ase open guesses, let's make an educated guess. what are the estimates for the open? the teens. that's an educated guess. we are basically following a

so we started just blazing a trail from new york up to athens, athens to new york. each time we went to athens we're write a few more songs, practice, go to new york. and that early club scene, we opened the mud club, we played cbgb's, max's kansas city, hoorah's, uh it was so exciting cause other bands, you know, uh, blondie, devo, talking heads, you know we were all like, they came to see us and it started this buzz, yeah, and they were like and patty smith and all those that were punk, the ramons, you know were our icons. and when we started we weren't that aware. i mean we were in our own athens bubble, so we started writing, it was just, i think that's why we were so different. we didn't really have a prototype exactly to follow, which is like our crazy blend of everyone's personalities into a genie in the bottle brew, so um, when we went to new york, that was very friendly, you know debbie harry and chris stein invited us to their apartment, and we saw their gold records like um, on the floor, sort of leaning against the wall and we're like whoa, so it was ver

i am in the athens stock exchange. the most important question and data point is what will the market close at? the restrictions may be impeding the actual pricing. we need to wait. we have been talking to various of market participants and we have to wait for the other day in to see how far things are down. the aggregate exchange is down. many of the banks hit 30% drop limit within the first four or five minutes of trading. in some ways come the main number i'm focused on is the pmi number all the way down at 30%. the expectations was 40%. we know greece is in recession but we do not know how much. these numbers are not good indicate greece may have a much deeper economic hold to dig out off. in terms of investors and get accurate pricing. it is the story of the day and in a few minutes, we will speak with socrates lazaridis the ceo of the athens stock exchange. we will get his take and what we can expect moving forward. francine: i am looking forward to the interview. thank you. hans nichols with the latest for comin

hans nichols, live in athens. he is going to be speaking to the ceo of the athens stock exchange later today. that is coming up 10:00 london time live on the pulse. would you buy greek stocks? you have different levels of access to the greek stock exchange. lots of restrictions on trading greek stocks, but would you buy them? concerns the economic slowdown is deepening. we will tell you why after a short break. ♪ >> welcome back. hsbc reported a 10% rise in profit. pretax profit jumped from last year. the bank agrees to sell the brazilian unit. it also recognized a $1.3 billion to cover the currency. iran votes to boost production. iran's oil ministry said the country can boost output by 5000 barrels a day within a week. crude trading weaker after those comments. and helping to ease the escalating crisis at the port of calais. writing in the sunday telegraph, britain's home secretary and france's interior minister calls this a global migration crisis. let's get more on some of the earnings we have had. let's get

brussels is being rather cautious, but what is athens saying? are beingk officials optimistic, talking about white smoke in the face of deals, several months of negotiations. greek officials say this package will be worth 85 billion euros over the next three years. 10 billion euros of that is expected to go to recapitalize greek banks. that will happen quickly in the months to come. at least 3 million will have to come back to the european central bank. athens has at least a 3.2 billion euro payment that is due next week, august 20. that is the first order of business. we do not know the minor details that greek officials say need to be ironed out. greek finance ministry says it should overall affect the restructured -- shouldn't affect the overall structure of the deal. things like the pension system, rises, asses, vat well as the 50 billion euro privatization fund. they will be sold off to raise money for the government. crucially, we know a lot of these reforms will have to be put into effect and implemented before creditors are willing to ha

athens time. that is this afternoon. shery: that's it from us here on "asia edge." ♪ >> the following is a paid -- -- presentation for body beast, the fast proven way to build muscle and build your best body. brought to you by beachbody. >> this is as real as real gets. we will learn and we will sweat and we will have fun and we will see results. >> before bo

almost all of them go through athens. they pause there for a rest and plan the next leg of their journey. that's created problems of yore crowding as john siropolous reports from the greek capital. >> this is athens latest attempt at response to the refugee process. it was conceived just a week ago and became concrete in record time but even this has been dogged with problems. greece has been dealing with its own financial crisis so transfer has been delayed over the question of who will pay for air conditioning units to be put into these mobile homes. now that has been resolved but authorities are struggling to keep up. more than half the total entering europe have entered greece. camped in athens biggest park, some vivid feed them. this little girl has gastroenteritis, one of the commonest ailments doctors here see. but what they need most of all doctors say is counseling. said gave $2,000 to smugglers to get this far. he has been in this camp for a week and plans to leave today or tomorrow. >> when we go outside we don

my most go through athens and before their neg less of the journey. that has presented overcrowding as john psaroupolous reports. >> this is athens' latest attempt at a response to the refugee crisis, a camp for 500 people in the western suburbs. it was conceived just a week ago and became concrete in record time. even this has been dogged by proble problems. >> disagrees is dealing with a crisis. the transfer has been delayed over the question of who will pay for air conditioning units to be put into these mobile homes 124,000 migrants have entered greece so far this year, triple auld of last year's number at more than half the total entering europe. >> hundreds of afghans are camped in athens' biggest park. volunteers feed them and some individuals bring food. mean suffer from dehydration. this little girl has gastro-i wantritis, one of ti wantritis. what they they need most of all is counseling for all they have been through. said is a musition. he gave $2,000 to smugglers to get this far. he has been in this camp for a week and plans to leave toda

that is hans and a calls live in athens -- hans nichols live in athens. matt: from athens to san juan, puerto rico. a default is imminent. ♪ this is "market day." erik: it is time to turn our attention back to puerto rico. over the weekend, it missed a $50 million bond payment on its public finance corporation. to draw artant distinction between the so-called moral obligation bonds , which puerto rico has been paying, servicing up until now, and other bonds. matt: and has to constitutionally. erik: and other bonds for which there are tighter restrictions. or assets, cash flows pledged as a security. matt: tighter restrictions, but no constitutional duty to meet those obligations, right? erik: well, look, you have a contractual duty. in the case of -- i want to get to prepa, the puerto rican power utility. the bonds are backed by puerto rico's electricity generating assets. much of this has been guaranteed in an assured guarantee. the banker was here earlier talking about why there has been no deal regarding restructuring .f prep a bonds too many people,

the clock is always ticking for athens, it seems. the greek prime minister says he is close to concluding a third bailout deal, but while those discussions are taking place the country's banks got hammered on the stock market for the third straight day. clare murphy has the latest. clerare: day three of its reopening after a five-day shutdown once more witnessed bankshares bearing the brunt. the frenetic selloff has prompted the country's financial markets commission to make an urgent call or the listing of capital controls. -- the lifting of capital controls. the ecb confirmed on wednesday it has left its emergency credit lifeline for greece unchanged for the next fortnight at over 90 billion euros. talks are inching or were towards the third bailout deal for athens as the date of a multibillion euro payment due to frankfurt looms. [inaudible] the greek government also says they want the country banks to complete the recapitalization by the end of this year. it is seen as a vital step for any sustained recovery, but the additional a

thank you for your reporting from athens. turkey appears to be heading for snap elections after talks on forming a coalition government failed. the turkish prime minister says he wants another ballot as soon as possible. his ruling ak party lost its majority in june. they spent weeks negotiating with the main opposition group, but the prime minister said the differences were too great. >> what is next for turkey? that's the question hanging in the air after the breakdown of coalition talks. it seems fresh elections are likely, but when is still unclear. we can say that after trying everything, the possibility of going to the polls again is very high. that may even be the only option. turkey has been in political limbo since the last elections in june. then the ruling ak party lost its majority. ever since, the prime minister has been holding talks with the opposition party, the chp. the chp see things very differently. we never received a proper coalition offer, said the party leader. he insists the ak was never really intere

. >> up to 500 afghan migrants have been living in a makeshift camp in central athens. we have this update. >> look what has happened to the biggest park in central athens. it's become a refugee camp. hundreds of people from afghanistan above all of here. we understand that there have also been some syrians, as well. it's a graphic illustration of the greek state's failure. there are many women and children here around this is not a comfortable place to be in the middle of summer in which temperatures in central athens can reach close to 40 degrees celsius. there's little running water available and few toilet facilities. although the camp has been here for about a month there's a constant change over, a turnover in terms of who's actually sleeping here. typically, groups of migrants come in, they've come from turkey and then through the greek islands they arrive in central athens and only stay here for two or three days and then they make their way north heading towards serbia, hungary into the e.u., and then more people come to take their place. well what is the greek

the athens stock exchange was hit with a 22% loss. shares of two major banks fell the maximum the market allows, 30%. banks were shut and capital controls were imposed. a european commission spokesperson is saying the eu see cost serious deterioration -- the eu sees serious deterioration in the economy. president obama will make a televised address this afternoon. he previewed his environmental proposal on twitter. he calls for cutting emissions from u.s. power plants by nearly a third within 15 years. republicans are already fighting the plan. mitch mcconnell is telling all 50 governors not to obey the new rules are in america accounts for about 1/7 of the world's emissions. half of that is from plants releasing carbon into the air. you can see the president's announcement live on bloomberg tv at 2:15 p.m. eastern. john kerry is on a fence-mending swing through the middle east. the secretary of state's stop today is qatar, where he will ease concerns about the nuclear deal with iran. it -- he restarted formal security talks after six

thank you for your reporting from athens. turkey appears to be heading for snap elections after talks on forming a coalition government failed. the turkish prime minister says he wants another ballot as soon as possible. his ruling ak party lost its majority in june. they spent weeks negotiating with the main opposition group, but the prime minister said the differences were too great. >> what is next for turkey? that's the question hanging in the air after the breakdown of coalition talks. it seems fresh elections are likely, but when is still unclear. we can say that after trying everything, the possibility of going to the polls again is very high. that may even be the only option. turkey has been in political limbo since the last elections in june. then the ruling ak party lost its majority. ever since, the prime minister has been holding talks with the opposition party, the chp. the chp see things very differently. we never received a proper coalition offer, said the party leader. he insists the ak was never really intere

that has created problems of overcrowding as john siropolous reports from athens. >> this is athens latest attempt at a response to the refugee crisis. conceived just a week ago and became concrete in record time, since then dogged by problems. greece is dealing with its own financial crisis so the transfer of hundreds of migrants to this facility has been delayed over the question of who will pay for air conditioning units in these mobile homes. more than half the total migrants entering europe. hundreds of afghans are camped in athens biggest park. many suffer from dehydration. this little girl has gastroenteritis. one of the most common conditions officials see. said plans to leave today or tomorrow. >> translator: when we go outside we don't know if we'll return home safely or not. when you go into the street there could be a bomb or suicide attack. i don't know what the terrorists want. if for example you work for a foreign company if they catch you they'll kill you. if you don't work, how to survive? the situation is very difficult. >> reporter: and war or repression is producing mor

some get on buses, others head to the athens metro. on their long journey this is a respite from which they seek only a little comfort and humanity. >> police in the lebanese capital are pushed back protesters after they try to set fire to barricades in front of government headquarters. the new campaign which is sparked by a garbage crisis in beirut expanded to reflect anger at the state's failure to provide basic services. the demonstrators gave the government 72 hours to clean up the mess or face more protests. >> memorial services have been taking place across the u.s. city of new orleans to mark the 10th anniversary of hurricane katrina. the storm devastated the city killing 2,000 people. at memorial services across new orleans they gathered to remember those lost to the storm. a decade ago the city laid submerged, streets and neighborhoods in ruins. for many, the memories are still too powerful. the losses, too great. the mayor of new orleans told them that the struggles of the last ten years were not in vein. >> i want to give a

the broader athens index off just over 4% of course. only opening after five weeks of closure yesterday. joining us is the fixed income strategist. good morning to you. thank you very much for joining us. just quickly how important are these declines in the stock market in your eyes as an indicator for where greece is today. >> obviously the greek stock exchange is is very small and given that the banks are going to have to have some restructure which presumably involve a big hit to equity holders it's been shut for a long period of time. this doesn't come as a surprise to us and it's not something that we view as hugely significant in terms of wider ramifications. >> the overall situation in greece not fully solved yet. we're in a much better position than four or five or six weeks ago but there's still an agreement that needs to be reached. will it be reached easily now? has the main political differences between the two parties been dealt with now? >> it could still be a relatively sort of painful process and we wouldn't be entirely

creditors continue in athens as the august 30 deadline approaches. hans nichols is in athens. can you put yesterday in context and tell us where the leaves us? hans: traders are bracing for their second day and they do not know if it will get worse before it gets better. this is a hobbled exchange. it is not operating with complete fluidity. here is what one trader said. without the x -- the restrictions, the drop would have been steeper. there are a lot of orders in the systems. the systems are not executable. it is you an indication that today we could see further drops. we did see a 11 companies and that 60 member fall more than 29%, more than half of them were financial services. the banks all hit that 30% trigger quickly. it was not all bad. you were a few bright spots. i mean stocks that were just down a little bit. aegean air. it had a lot of middle east exposure. it ended the day in just slightly negative territory. a were close to the breakthrough. one thing we heard over and over was that you will need to have a couple more days to get accurate pricing on the athens

tom mackenzie joins us now from athens. how can we expect all of this to play out? now, the leader of -- democracy is going to be will be handing back his right to try to perform a government. it is unlikely he is going to do this. he is going to go back to the president. it now goes on to popular unity, the third-largest party. it is best it has been set up by the syriza rebels. 25 mps. that is crucial are the -- for them. they need to get their message and rant out. very littlerty with funding and this is a party with very little strategy and infrastructure going into what is likely to be this electoral campaign on september the 20th. the date that is most likely. these three days, they will try to maximize them. on thursday, the president andes will close parliament an interim government will be put into place. official campaigning ahead of the election will start off at the end of the suite. that is what we are expecting. the political sands are shifting. there have already been differentons between political factions s

john siropolous, al jazeera, athens. >> still to come on al jazeera. ten years after hurricane katrina devastated new orleans, the city remembers its dead. also. >> this is common now. my people are coming back. >> we'll be reporting from northern nigeria, where farmers chased away by bandits are now reclaiming their land. the only way to get better is to challenge yourself, and that's what we're doing at xfinity. we are challenging ourselves to improve every aspect of your experience. and this includes our commitment to being on time. every time. that's why if we're ever late for an appointment, we'll credit your account $20. it's our promise to you. we're doing everything we can to give you the best experience possible. because we should fit into your life. not the other way around. >> you're watching al jazeera. a reminder of the top stories now. thousands of malasians have returned to the streets of kuala lumpur to call on prime minister najib ratak to quit. hundreds of millions of dollars paid to his bank account by unknown donors. >>> the u.n. se

mark: a bloodbath in athens today -- greek stocks got hammered as the exchange reopened. details, next. ♪ the only way to get better is to challenge yourself, and that's what we're doing at xfinity. we are challenging ourselves to improve every aspect of your experience. and this includes our commitment to being on time. every time. that's why if we're ever late for an appointment, we'll credit your account $20. it's our promise to you. we're doing everything we can to give you the best experience possible. because we should fit into your life. not the other way around. this is a great place to work. not because they have yoga meetings and a juice bar. because they're getting comcast business internet. comcast business offers convenient installation appointments that work around your schedule. and it takes- done. - about an hour. get reliable internet that's up to five times faster than dsl from the phone company. call 800-501-6000 to switch today. perks are nice. but the best thing you can give your business is comcast business. comcast business. built for business. to

others head to the athens metro. on their long journey, this is a respite from which she seek little comfort and humanity >>> in the u.s. a presidential hopeful says he'd track foreign visitors like parcels, if voted into office. north americasy governor chris christie launched his campaign for president in june. during a campaign event in new hampshire, he said he'd fire the founder of fed ex to device a tracking system. >> at any moment. fed ex could tell you where the package is. it's on the truck, it's at the station. on the airplane, back in another station, back on the truck, apt our doorstep. she signs for it. yet we let people come to the country with visas. the minute they come in, we lose track of them. we need to have a system that we need to have a system that tracks you from the moment you come in, and when your time is up, whether it's 3 months, six months, nine months or 12 months, howver long your visa is, we get you, tap you on the shoulder and say excuse me, thanks for coming. time to go >>> new orl

the athens stock exchange down 2%. alexis tsipras will face a vote of confidence, and after an initial boost from that though, other european agencies also turned downwards. this paints a worrying picture about the health of the overall euro zone economy. new dated this friday showed that the block had 3% growth in the second quarter, down from .4% in the first. -- had .3% growth in the second quarter, down from .4% in the first. julia kent has the details. julia: the country was unable to sustain its robust first-quarter results. that thefigures show economy came to a standstill with 0% growth in june. we are on our way. 10 years ago economists said we needed 2.5% growth. today we see that they need 1.5%. i think they are right. weis closer to the figure expect. that is why we need to stick to our policies. >> a decrease in manufacturing output and consumer spending drove down the country's gdp in the second quarter. some say the outlook is not as gloomy as the figures might suggest. first-quarter results revised to .

jonah hull joins us live from athens. more and more people arriving every day. how are the outlying greek islands, the ones close to turkey coping? >> not very well at all is the short answer to that. i'm standing at the port. we're waiting in the next hour or two, three perhaps for the arrival of a fer require, a large passenger ferry with 2,500 syrian refugees onboard, coming to us here in athens from the aegean islands. they are the front line in this massive influx of humanity, taking the greatest number of them. this boat load now the fifth, many more are making their way by other private ferries and even by airplane, as well. 50,000 people in july alone, the august figure will be much higher. now we've been in touch this morning with the authorities on lesbos. the mayor's office confirming to us there are around 10,000 people living in two very rudimentary reception centers in pretty bad conditions. they said they have not received a single euro of money from central government to help them, although they've asked repeatedly. they say those numbers are swe

mark: is there the political will in athens? people feel the prime minister tsipras used up his capital. he made promises the international committee was convinced he could not keep. ons: there's a vote thursday, which usually means friday morning. i have to take a lot of votes, difficult votes. it does seem in a 300 seat parliament in athens, that there is a bunch of wobbly center that just want to get this done. 250 vote was a high a lot ofk, he can have -- in athens, there's going to be a party conference. there could be a collapse of government. we will go to athens together. mark: is there any sense that germany does not want to help greece? hans: yes. is a very public station last statement that the best option may be a temporary default and then you have a lot of few monetary and aid for greece while they default temporarily. they would leave the eurozone and outside of the eurozone you could write down a lot of their debt and there would be a path to bring them back into the eurozone. within germany, especially within he

. >> reporter: look what has happened to the biggest park in central athens. it's become a refugee camp. hundreds of people from afghanistan above all are here. we understand that there have also been some syrians as well. it's a graphic illustration of the greek state failure, its inability to cope with the numbers of people who are coming into this country at a time of economic crisis and they are not all young men, by no means. there are also many women and many children here and this is not a comfortable place to be in the middle of summer in which temperatures can reach close to 40 degrees celsius. there's little running water available and few toilet facilities. although the camp has been here for about a month, the constant changeover turnover in terms of actually sleeping here. migrants come from turkey and through the greek islands. arrive in central athens stay here for two or three days and then they make their way north into the e.u. and then more people come to take their place. what is the greek state doing to provide any humanitarian assistance

it was reno and athens before, the choice of -- tel aviv has been a controversy. anchor: scores of people killed and wounded after a huge explosion at a warehouse holding toxic chemicals in china. hospitals in the city of tianjin have been overwhelmed by the number of people injured. experts have been sent to monitor the environmental fallout. the islamic state is claiming responsibility for a massive truck bombing at a busy market in baghdad. the attack struck a mainly shiite neighborhood at dawn. lawmakers are set to vote on the country's third international bailout. euros over5 billion three years. the prime minister's party has said they would vote against the deal. time for an update on the business news, and you are going to tell us more about the bank of china devaluing the currency for the third time this week? reporter: the people's bank of china devalued their currency by 1.1% against the dollar this thursday. they did come out and publicly defended their actions at a press conference. and luxuryexporters goods makers are worried about the impact of the

. >> more refugees arrived in athens from the aegean islands. two and a half thousand people disembarringed at the port, most intending to continue north to the mass dope i can't border and then into the european union. >> of the many stages in their long journey before and still to come, this 12 our ferry crossing from the aegean island of lesbos has perhaps been the most comfortable and secure. they paid 50 euros'm to the ferry operator and they've arrived safely on dry land. >> we don't have any right in our country. people kill each other, so we escaped from our country. >> are you happy to be here? do you feel relieved to be here. >> yes, we are so happy here. >> we're 10. >> 10 in one family. >> turkey to greece and now we're going to macedonia, to serbia, then hungary. >> have you heard about the trouble on the route it is. >> i heard so much. >> are you worried about that? >> yes. >> this is 12.5000 people in a single week. back on the ablen islands, the european front line, if you like, are well over 10,000 people waiting to get on ferr

let's join tom mackenzie in athens. give us a little bit of the to form who is clawing a government at the moment? the state of play is this, at 1:00 local time -- in about 20 minutes -- popular unity, europe's newest anti-austerity party formed by rebel members of syriza will be given a mandate by the greek president to try to form a government. this comes after new democracy failed to do that after three days. get threeity will days but they are, it is almost certain they will not be able to form a government. they could use the three days to publicize their movement and reach out to other leftist groups. it gets down to thursday, that is when they are likely to put their hands up and say we have not done it. the president of greece will likely dissolve parliament and install an interim government. that is when the official election campaigning is likely to get started in greece, thursday or friday. francine: i always thought approvalipras had huge ratings. is it likely that he gets a majority of some sort? is it like

hans nichols is in athens. what are they expecting from today's session? surely not another 30% drop down. posco the banks could -- hans: the banks could drop again. that was about eight minutes from now. we open at about five minutes. we'll see how long the bank stocks trade until they are halted. some stocks could start creeping up in the positive territory today. we do not know. the prices are inaccurate because of the restrictions there were put on greek retail investors. they have certain restrictions. they have to come up with new money. we are going to have to wait and see what happens. remember, 30% drop halted a lot of the trading. that is no longer in place. you can trade this morning. we do not have a bad bank set up. we don't have any clarification on what they're going to do. jonathan: hans nichols, thank you very much. what is in store today? find out in two. we're back after this break. ♪ the only way to get better is to challenge yourself, and that's what we're doing at xfinity. we are challenging ourselves to improve every aspect of your

it will see athens receive 85 billion euros in loans spread out over three years. greece's parliament is expected to vote on the agreement before the euro group meets on friday. speaking earlier, finland's finance minister said a reduction of greek debt is not part of the deal. take a listen. >> we must take one step at a time. agreement is a big word. there remains work to be done on the detail. >> cuts are not on the table at the moment. we've said from the beginning that maturities could be lengthened. but it is too early to talk about debt reductions. delano: let's get a check on the markets now and it is in greece but china impacted. in the u.s., cuts over 1% across the board at this hour. trading down 260 points this session. they are down over 1% at this hour. here in europe, the dax and frankfurt led declines slumping over 2.5%. companies that export heavily to china tumbled during the session. french luxury goods maker lbmh slumped 5% at the lokesw close. the a.s.e. index is 2% higher this tuesday. and china surprised devaluation is also rattling the oil m

we're watching pictures coming out of athens that are somewhat disturbing. we have not seen any true protests taking place in the streets of athens over last few days. we'll bring you the news. now we're bringing you these pictures because this matters. instability of europe could be again called into question. this is greece. this is the government of greece who has never been able to stick to a deal. no one trusts them in europe. now you've got anti-austerity protests that have grown over the last couple of hours. we've been hon toring pictures. -- monitoring live pictures out of athens, greece. we're looking at something that happen ad few moments ago. ralph gave me this, everybody. oil, look at the oil contract. we're watching oil. we just hit a six 1/2-year low, six 1/2-year low on the oil contract. the big piece has been the china story. we have couple big stories coming out of china. big quick flash of oil. another big drop for oil. gas not going along. we'll talk about that. >>> also back here, we're watching something else that has been incredible t

ranks of angela merkel's conservative party, saying this is the last time she can come to the aid of athens. they just said that no vote is required, and the netherlands approve the bailout. funds should now be released in time for greece to make a repayment due on thursday. >>> now, a russian court has sensed an estonian policeman for 15 years in prison for spying. arrested last september when he said i was caught in russia territory with a gun, cash, and hidden recording device. but estonia said that he was abducted at gunpoint at a border crossing. the eurean union said that the detention is illegal. >>> russian authorities have been accused of covering up the scale of an oil spill in siberia in june. environmentalists say that the government is vastly has under reported how much oil leaked as the oil companies have accused

ons nichols is at the athens stock exchange and files this report. >> at the close of the athens stock exchange on this monday, after stocks were down 23% in aggregate, they creep back up a attle bit, ending the day 16% in negative territory. it was the bank losses that led the declines. most drop to that 30% trigger where trading was halted. looking forward towards tuesday, the ceo of the athens exchange indicated we might enter into positive territory either tuesday or later in the week. still there needs to be pricing adjustments as the restriction on buyers could have distorted some of the information. alix: former u.s. ambassador to greece tom miller spoke about the plunge in the state of the market. >> when you have exchange closed for this many we with all that is happening, there is just a to getpent-up eagerness money out of the market. i expect once the markets are open on a regular basis, things will even out. >> i mentioned in the open that you have recently returned from greece. as a matter fact, you got back yesterday. you spoke to a lot of working-class people on the gro

athens times with restrictions in place. athens: the ceo of the stock exchange later. at 10 past 10 in london. we are watching. here is that eckert. zeb: agriculture progress on a trade pact. the talks wrapped up in hawaii over the week end. they'll your to agree on is overshadowed advances in other areas the 12 nations overcame differences over environmental yifferences but not dair products in ottawa bills sells -- automobile sales for -- automobile sales. it would be a setback for president obama. congressional democrats gave the president expanded authority for the tpp warned in a letter that are unlikely to support a deal without tougher environmental standards. the wing section washed up on reunion of the arrived in france. it is identified as a flaperon from a boeing 777 from missing flight mh370 and that's the only airplane known to be missing. the discovery is consistent with the current search area. the wall street journal reported the government said it is from a boeing 777. honda has surged the most in six years. you was shares higher on friday. ed the slow

. >> let's get more from john live for us from athens. how likely is it that they will be able to form a new coalition? >> reporter: well, the conservatives are taking this order from the president very seriously indeed. they think it is incoupleant -- incumbent on them to save the deal. here a very difficult constitutional question has now arisen, because the leader of popular unity, the far-left faction of syriza has now broken away, another 24 mp's from the party, those 25 form the third-largest force in parliament, and he insists after new democracy fails to form a government, he should be the next party leader to receive the order under the constitution from the president to try to do so. but there are differing opinions about this. he is the third largest party. but he wasn't elected to that power. that power was formed after the last election, and really if you go back to the january election this year, it is the far right golden dawn who should be receiving the next order to form a government. now it doesn't really, necessarily ma

of 2500 refugees being transported to athens from the island of lesbos and that and other islands on the front line of this massive wave of humanity into the european union. this will be the fifth boat load in a week since shuttle trips were arranged and that is 12 hours crossing and 12,500 and others come here by passenger ferry on their own or bi-plane load at some 50,000 arrivals in july alone, august figures look set to be higher. we have been in touch this morning with the authorities on the lesbos, the mayor's office confirms 10,000 people are currently sitting in two makeshift reception centers in extremely rudimentary conditions, a thousand more arriving every single night and last night they say there were six fatalities on the flimsy boat crossing from turkey. >> the ones lucky enough to make it over and obviously relief there and wondering how the greeks themselves are dealing with this massive in flflux. >> reporter: the greeks, jane, are absolutely overwhelmed. again, the mayor's office telling me that they have had not a euro's assistance from the government and is have

in a couple minutes time i will bring you that athens stock exchange. coming up relative calm in the commodity markets. i will break down the market after the break. ♪ jon: good morning and welcome back to bloomberg tv. we are 30 minutes into your trading day let's see how things are shaping up this morning. the ftse 100 is in the green we're up 0.3%. a big pop in paris. stock jan with the spoke -- solid beat this morning delivering biggest profit since 2011. switch up the board very quickly and we take it from stocks to fx. the euro south of the dollar nine. 108 down by 63. dennis lockhart gives september a ringing endorsement. euro sterling done by 70 pence. ing sitting next to me forecasting 65 pence in the next 12 months. euro eris sterling bullish. i will be talking about commodities in just a bit. bring crude act through $50 a barrel. those are the big market moves this morning let's get some of the big stock stories with caroline hyde. you just talking about the general is the best performance morning. this is a company funding rates in the equ

the series of parting and they had opposed a bailout agreement struck with international lenders and athens received the first 13 billion euros from the bailout on thursday, package in total $86 billion. what happens next? his resignation paves the way for early general elections and some reports suggest september the 20th, the date for that and he has already confirmed that he will run. until then a caretaker government will be installed. >> translator: i decided to go to the president and submit the resignation of the government, the people's mandate has exhausted its limit. now you with your vote will decide how we represent the country with resolve with the difficult negotiations required. you with your vote will decide if if the agreement we reached with creditors has the elements to recover and finally get rid of these bailouts. >> reporter: john, when the elections were held we talked a great deal and cannot imagine you thought you would be talking to me about fresh ones within the year so why does he say his mandate has run out? >> well, this really is not such a completely outlandi

john siropolous, al jazeera, athens. >> meanwhile, greece and its european creditors are working on a new agreement, hoping to wrap up a deal by tuesday, officials are desperate for aid to keep the country financially afloat. greece also needs money to repay a european central bank loan to keep afloat. >>> protesters blocked lisbon's main thoroughfare. long term deposits guaranteed ... ... by the bank, many protesters, after the government bailed out the defunct bank last year. >> now to our global view segment with a look at how news outlets across the world are reacting to various events. >> ben dick cumberbach has been playing to sellout crowds. after one sellout performance, he made this impassioned me. >> i can see red lights in the auditorium. that one there, that red light is very, very obvious, so we started again tonight, second time i could see red light in about third row in my right. it's mortifying, experiencing that i can't give you what i want to give you which is a live performance you will remember in your minds or brains whether good bad or indifferent rather than on

manus: tom mackenzie is in athens. what is the immediate impact of his announcement and the political landscape? i just had wolfgang in and he said that it might go until september 20 as mostly as everyone thinks. the other protagonist may take their time in terms of saying, we would like a chance to form a government. tom: that is a good point. timing is crucial. the new democracy, the main opposition party, he is now trying to form a government to ward off those elections. his met with the greek president that she has met with the greek president to give him that authority. he has three days to do that. even speaking with his own mps, the sense is very much that he is just taking the box is constitutionally, and it is unlikely that he will be able to needed inugh votes greece to form a government. it seems very much that the elections are on course. the date we are unsure about. there are shifting political sands. we heard the left platform formally known as the rebels who voted against, or refuse to back, the bailou

some get on buses others head to the athens metro. on their long journey this is a respite from which they seek only a little comfort and humanity. john, al jazerra, athens. ♪ ♪ >>> the malaysian prime minister has condemned the organizers of demonstrations against him as haram, which means they are sinful in islam. 10s of thousands of protesters have called for him to step down. after leaked documents showed he received a $700 million payment from unarmed -- unnamed foreign donors. the prime minister denies any wrongdoing. wayne hey has the latest. >> reporter: they converged on the certainty of koala lumpur in the 10s of thousands. calling for the resignation of prime minister. it hasn't happened yet. but the leaders of the so-called movement say their protests can still be called a success. [ inaudible ] member of parliament, yeah, for them to put in. [ inaudible ] in parliament. this is a message to the prime minister that he need to go. >> reporter: it means clean and the protesters believe mine prie minister is anything but.

in athens. scarlet: this is the bloomberg market day. matt: we are watching headlines for you out of greece. scarlet: clash along the korean border. the most serious exchange of artillery fire in five years. we look at impact at the region. president john hofmeister weighs in on where oil will go. good afternoon. i am matt miller, here with scarlet fu. scarlet: let's look at the markets. it is a down day across the globe when you look at equities. the dow off by 217 point, off the session lows. that was about an hour ago. in the s&p 500, nine out of 10 groups

the latest from athens. ♪ francine: welcome back to "the pulse." manus: the greek government is hoping to complete a bail out negotiation this week. the creditors are expected to finalize by tomorrow. francine: after a 3.2 billion euro repayment is looming. the latest from mark spence than. why is greece presenting such an optimistic timeline? certainly, if it gets through parliament, at this point, well behind it. case butt always the it took for position that it needed to agree to reach an agreement with creditors. a very bitter pill to swallow. after making the decision. wanted to be done with it and move on. that's the government's position. effective economy has been in and politics in this over the negotiations says in the beginning of the year has been crippling. the greek point of view, the last thing they want is to meet the ecb redemption when another bridge loan. which is then raises the prospect of more months of negotiations rather than dealing with a next set of issues. like for example, from