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UK tax reversal does little to calm London stocks
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Europe braces for heavy oil refinery outages amid tight supplies
German manufacturing shrinks in Sept as new orders slump – PMI
Date: October 3, 2022
BERLIN (Reuters) – German manufacturing activity contracted for a third month in a row in September, hurt by a deepening downturn in new orders as the soaring cost of energy set off alarm bells about the outlook for business, a survey showed on Monday. S&P Global’s final Purchasing Managers’ Index (PMI) for manufacturing, which accounts...
Italy manufacturing activity contracts for 3rd month running – PMI
Date: October 3, 2022
ROME (Reuters) – Italy’s manufacturing sector contracted for a third month running in September, a survey showed on Monday, with inflationary pressures and uncertainty over the economy hitting order volumes. The S&P Global Purchasing Managers’ Index (PMI) for Italian manufacturing came in at 48.3, slightly up from 48.0 the month before but below the 50...
Take Five: A bumpy home straight
Date: October 3, 2022
(Reuters) – A tumultuous year for financial markets is entering the home straight, with Britain battling a self-inflicted crisis and markets pouring over U.S. jobs data to determine how much of an impact Fed hikes are having on the U.S. economy. Currencies plumbing multi-year lows in Australia and New Zealand are ramping up pressure on...
Instant View: British pound up as govt makes U-turn on tax cut plan
Date: October 3, 2022
LONDON (Reuters) – Britain’s pound rallied although UK stocks opened weak on Monday, after the government said it was making an about-turn on a controversial tax cut plan in its mini-budget. Finance Minister Kwasi Kwarteng said the government would not scrap the country’s top rate of income tax, as outlined a week ago. That proposal...
Vodafone agrees to buy MasMovil’s Portugal unit Nowo
Date: October 3, 2022
MADRID (Reuters) – British telecom group Vodafone has agreed to buy Portuguese rival Nowo from Spanish operator MasMovil as part of an expansion plan in the country. Nowo is the fourth largest operator in Portugal with about 250,000 mobile phone clients and 140,000 clients for fixed telecom services, Vodafone said in a statement released on...
Centre-right GERB party leads in Bulgaria election -partial results
Date: October 3, 2022
SOFIA (Reuters) -Bulgaria’s centre-right GERB party of former long-serving Prime Minister Boyko Borissov is set to win Sunday’s election, the fourth in less than two years, partial results showed, but its chances of forming a coalition government remain unclear. With 99% of the ballots counted, partial official results showed GERB winning with 25.4%. Its main...