FTSE 100 leads stock markets higher with all eyes on Fed chair Powell August 23, 2019 London’s FTSE 100 was the biggest riser among the European stock markets this morning, as a falling pound pushed up the blue-chip index. Read more: Pressure on for Fed chair Powell at Jackson Hole European indices were slightly higher as investors awaited US Federal Reserve chair Jay Powell’s speech at Jackson Hole, Wyoming this afternoon. [...]
Pressure on for Fed chair Powell at Jackson Hole August 22, 2019 Most people journey to the snowy plateaus below the Wyoming mountains for a relaxing week of fresh air. US Federal Reserve chairman Jay Powell, however, will find his visit to the north-western ski resort an altogether more stressful affair. Read more: US manufacturing sector contracts for first time since 2009, survey says Powell will take [...]
US manufacturing sector contracts for first time since 2009, survey says August 22, 2019 The US manufacturing sector contracted for the first time since the financial crisis in August, survey data showed today, in a sign that a global slowdown and trade tensions are damaging producers. Read more: Apple’s Tim Cook cautions Donald Trump over China tariffs A preliminary reading of the manufacturing purchasing managers’ index (PMI), a closely-watched [...]
EU immigration to UK falls to lowest in six years August 22, 2019 Long-term migration from the European Union to the UK fell to its lowest level since 2013 in the year to March, official figures showed today, as fewer EU citizens moved to Britain to work. Read more: No deal most likely Brexit outcome, says French aide Just under 60,000 more EU nationals moved to Britain than [...]
Eurozone output beats expectations in August but economy remains weak August 22, 2019 The euro has climbed against the dollar after survey data showed private sector output in the Eurozone beat expectations in August. Read more: German manufacturing stays firmly in contraction mode in August The preliminary private sector purchasing managers’ index (PMI), a closely-watched gauge of the economy, scored 51.8 in August, up from 51.5 in July [...]
Chinese renminbi falls to lowest versus dollar since 2008 as trade war bites August 22, 2019 China’s currency the renminbi has fallen to its lowest level against the dollar in 11 years in a move likely to anger US President Donald Trump, who earlier this month accused Beijing of currency manipulation. Read more: US stock market jumps after China hints at stimulus The renminbi had fallen 0.2 per cent against the [...]
German manufacturing stays firmly in contraction mode in August August 22, 2019 Output in Germany’s struggling manufacturing sector contracted sharply in August, according to survey data released today, but beat economists’ expectations of a steeper fall. Read more: German economy shrinks in second quarter as exports slump A preliminary reading of the closely-watched manufacturing purchasing managers’ index (PMI) for August gave a score of 43.6, up from [...]
US stock markets rise as Federal Reserve enters spotlight August 21, 2019 US stock markets have risen in early trading as investors hope for dovish signals from the Federal Reserve and retailers beat expectations. Read more: Germany sells 30-year bond with negative yields but demand weak Shares in giant general store chain Target surged over 18 per cent after the retailer beat profit expectations. Shares in DIY [...]
Germany sells 30-year bonds with negative yields but demand weak August 21, 2019 The German government has sold 30-year bonds with a negative yield for the first time, but failed to drum up as much interest in the debt as it had hoped. Read more: German central bank warns economy could already be in recession The country’s finance ministry put €2bn (£1.83bn) of ultra-long bonds up for sale [...]
The only way is down for UK interest rates, say City economists August 21, 2019 The UK economy is in contraction mode, but the Bank of England isn’t greatly worried. GDP fell by 0.2 per cent by the second quarter of the year as Brexit uncertainty and a global slowdown held growth back. Read more: UK economy shrinks for first time in seven years Policymakers at the BoE are reluctant [...]
