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London’s Battersea Power Station reborn as office and shopping hub
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Hedge funds suffer $32 billion of outflows in Q2 -data
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Oil maintains most of recent gains ahead of OPEC+ meeting
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Euro zone likely to endure recession as downturn deepens
UK 10-year gilt auction sees strong demand, high yield
Date: October 5, 2022
By David Milliken LONDON (Reuters) – Britain received solid demand at an auction for 3 billion pounds ($3.43 billion) of 10-year government bonds on Wednesday, after patchy investor appetite for a 40-year issue the day before, but it paid the highest interest rate at any auction since 2011. Investors bid for 2.50 times the sum...
London stocks slide after three-day rally; Tesco falls on forecast cut
Date: October 5, 2022
By Johann M Cherian (Reuters) – UK shares snapped a three-session winning streak on Wednesday, dragged down by financials and miners, while Tesco’s profit forecast fanned worries of a worsening cost-of-living crisis in Britain and rattled the retail sector. The export-oriented FTSE 100 was off 1.1%, while the more domestically oriented FTSE 250 was down...
European shares retreat on recession fears; focus on U.S. jobs data
Date: October 5, 2022
By Devik Jain (Reuters) -European shares fell on Wednesday, snapping a three-day rally after data showed euro zone was unlikely to avoid a recession, with investor focus on U.S. labour market report for clues on further rate hikes by the Federal Reserve. The pan-European STOXX 600 index was down 0.95% by 0824 GMT, after rallying...
Italy’s services sector contracts in Sept -PMI
Date: October 5, 2022
ROME (Reuters) – Italy’s services sector contracted in September after reporting modest growth the month before, a survey showed on Wednesday, as surging costs and uncertainty hit client demand. S&P Global’s Purchasing Managers’ Index (PMI) for Italian services fell to 48.8 in September, from 50.5 in August and below the 50 mark that separates growth...
Wall Street surges for second day as bonds, oil enjoy rebound
Date: October 4, 2022
By Amanda Cooper and Pete Schroeder WASHINGTON/LONDON (Reuters) -U.S. stocks surged for a second straight day, while bond and oil prices also trended upward, buoyed by a burgeoning belief among investors that central banks may be closer to easing up on their fight against inflation. A weaker read of U.S. manufacturing data for September, coupled...
Volkswagen brands gear up for listings as Porsche SE begins share acquisition
Date: October 4, 2022
BERLIN (Reuters) -Volkswagen brands are preparing for stock market listings as a training exercise, CEO Oliver Blume told the Handelsblatt newspaper on Tuesday, as its largest shareholder began its acquisition of Porsche AG shares. Volkswagen’s listing of Porsche last Thursday, floating 12.5% of the sportscar brand on the stock market, prompted speculation of further listings...