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Pharma giant Novo Nordisk lifts European shares
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EU regulators back WHO’s COVID vaccine update recommendation
World Bank cuts 2024 global growth forecast as rate hikes bite but lifts 2023 outlook
Date: June 6, 2023
WASHINGTON (Reuters) -The World Bank on Tuesday raised its 2023 global growth outlook as the U.S., China and other major economies have proven more resilient than forecast, but said higher interest rates and tighter credit will take a bigger toll on next year’s results. Real global GDP is set to climb 2.1% this year, the...
Euro zone consumers more hopeful on inflation
Date: June 6, 2023
FRANKFURT (Reuters) -Euro zone consumers lowered their inflation expectations, a fresh European Central Bank survey showed on Tuesday, a relief for policymakers after an unexpected surge a month earlier, even if underlying price growth is still likely to be stubborn. The ECB has raised interest rates by a combined 375 basis points over the past...
Aussie jumps on RBA hike, U.S. dollar steady
Date: June 6, 2023
Aussie jumps on RBA hike, U.S. dollar steady By Kevin Buckland and Samuel Indyk LONDON (Reuters) – The Australian dollar jumped to its highest since mid-May on Tuesday after the Reserve Bank of Australia (RBA) raised interest rates, in a decision that many analysts had said would be a close call between a hike and...
European shares flat on rate-hike jitters; Novo Nordisk jumps
Date: June 6, 2023
(Reuters) – European shares were range-bound on Tuesday as worries of further interest rate hikes by major central banks in the face of slowing economic growth countered support from healthcare giant Novo Nordisk. The pan-European STOXX 600 index inched 0.1% higher to 460.42 points. On Monday the index dropped as data pointing to tepid U.S....
World stocks tread water as traders eye Fed pause prospects
Date: June 6, 2023
LONDON (Reuters) -European stocks started Tuesday mixed, as soft U.S. economic data reinforced expectations the Federal Reserve may skip an interest rate hike when it meets next week. The pan-European STOXX 600 index was up 0.1% to 460.40 at 0830 GMT. In the previous session, the index dropped as data pointing to tepid U.S. business...
UK construction growth edges up, despite housing slump: PMI
Date: June 6, 2023
UK construction growth edges up, despite housing slump: PMI LONDON (Reuters) – Weak growth across Britain’s construction sector picked up modestly in May, despite an increasingly severe downturn in house-building activity prompted by rising interest rates, a survey showed on Tuesday. The S&P Global/CIPS UK Construction Purchasing Managers’ Index (PMI) rose to 51.6 from 51.1...