Bloomberg

UK pubs will be allowed to stay open for Monday's early morning match, but the overall benefit of the World Cup will likely be short-lived. Bloomberg's Sam Unsed discusses on "The Opening Trade."

Ludovic Subran, chief investment officer and chief economist at Allianz, says there isn't enough evidence to say that the AI trade is in "bubble" territory. Speaking to Bloomberg's Caroline Connan at the Aix-en-Provence Economic Forum in France, he also says emerging-market stocks are looking more attractive due to demand for semiconductors, and that Europe might fail to reap the "AI dividend."

Anna Edwards, Tom Mackenzie and Paul Dobson break down today's key themes for analysts and investors on "Bloomberg: The Opening Trade." For up to the minute market intelligence and insight, click MLIV <GO>.

Jordan Rochester, Mizuho FICC strategy EMEA head, discusses sharp moves in the yen. "From all the frameworks, dollar-yen should be lower," he tells Bloomberg Television. He adds there has been a change in behaviors in the Japanese space and the yen is not behaving like a G10 currency. "It trades like an EM in terms of its correlation to rates," Rochester says.

Semiconductor stocks started 3Q with their worst two-day selloff in nearly a month. The Philadelphia Stock Exchange Semiconductor Index, which is coming off its best quarter ever with an 88% advance, fell as much as 6% on July 2. Richard Windsor, Founder of Radio Free Mobile spoke to Bloomberg's Abeer Abu Omar on Horizons Middle East & Africa on the stocks performance.

French Finance Minister Roland Lescure discusses the nation's budget deficit, bond markets and the outlook for next year's presidential election. He talks with Bloomberg's Caroline Connan at the Aix-en-Provence Economic Forum in France.

The first half of 2026 saw a bumper earnings season and global equity benchmarks soar to new highs, driven by a enthusiasm around the AI trade. Businesses, investors and central banks now turn their attention to the second half of the year with the focus firmly on whether markets can move past rocky geopolitical issues, growth concerns and ongoing jitters around the AI buildout. The Opening Trade spoke to leading voices about how the rest of 2026 is shaping up for equity markets.

Fiona Yang, Invesco Fund Manager for Asia ex-Japan Equities, says the AI trade isn't over but parts of the market have become stretched. She discussed the market dynamics around the tech trade with Bloomberg's Haslinda Amin and Avril Hong on Insight.

A Chinese milk tea brand has been ordered to pay $1.5 billion to French luxury giant Louis Vuitton for trademark infringement. The case has sparked widespread discussion on Chinese social media about intellectual property protection. Bloomberg's China correspondent Minmin Low reports.

Some leading European powers now accept that ships transiting the vital Strait of Hormuz will have to pay fees to Iran and Oman, according to people familiar with the matter. Bloomberg's Patrick Sykes has more.