Caroline Hepker

We'll be speaking on Bloomberg Radio to Mervyn King, the former Bank of England governor, on that death.

Now, the German and French governments have agreed to hold equal shares in the defence firm KNDS as it prepares to IPO.

That's according to a statement that has been released by both countries.

It was released yesterday.

In separate announcements, Friedrich Merz's government said that it's seeking a 40% stake in the firm subject to approval of Parliament.

The news comes after Germany reached an agreement over the weekend with KNDS's family owners to take a stake in a deal valuing the business between 15 and 18 billion euros.

The listing is also set to be one of Europe's biggest in recent years.

France, remember, holds 50% of KNDS and has been planning to sell shares in the IPO in order to cut its stake to about 40%.

But let's look at the markets.

European stocks this morning actually in the red, down almost nine-tenths of 1% for the U.S.

stock, 650, 100, dropping six-tenths of 1% this morning.

Zeta-DAX down by 1.1%.

You did have a decline yesterday in the U.S.

session for some of the big...

tech names, SpaceX and Alphabet.

And that led into the huge decline that we've seen in the cost be dropping some 10% despite a circuit breaker being brought in through the trading session in South Korea.

So, is this a kind of bigger rethink in the AI space?

Is it a bump?

Is it an opportunity to buy the dip?

Anyway, it's also the 10-year anniversary of Brexit today.