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London’s FTSE 100 kept afloat by gains in consumer staples
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Italian steel plant in talks with Treasury to avert energy crunch – sources
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Factbox-The challenges automakers, and now Tesla, face with humanoid robots
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Sterling hits record low, BoE fails to spark recovery
Wall Street slumps over negative macro ‘tsunami’
Date: September 26, 2022
By Lawrence Delevingne (Reuters) -U.S. stocks and oil prices declined in choppy trading on Monday, even as the dollar and Treasury yields rose, as Wall Street digested a raft of what it read as negative macroeconomic news. With markets already jittery from central bank signals of additional interest rate hikes, U.K. government fiscal plans released...
Bank of England ‘will not hesitate’ to act as it monitors market turmoil
Date: September 26, 2022
By Amanda Cooper, David Milliken and Andy Bruce LONDON (Reuters) -The Bank of England said on Monday it would not hesitate to change interest rates and was monitoring markets “very closely”, after the pound plunged to a record low and British bond prices collapsed in response to the new government’s financial plans. Finance minister Kwasi...
Analysis-After feverish week, global investors lick wounds and brace for more chaos
Date: September 26, 2022
By Davide Barbuscia and Dhara Ranasinghe NEW YORK/LONDON (Reuters) – Global investors are preparing for more market mayhem after a monumental week that whipsawed asset prices around the world, as central banks and governments ramped up their fight against inflation. Signs of extraordinary times were everywhere. The Federal Reserve delivered its third straight seventy-five basis...
Analysis-Crowd of dollar bulls raises risk of violent pullback
Date: September 26, 2022
By Saqib Iqbal Ahmed NEW YORK (Reuters) – Some investors are growing concerned the dollar’s meteoric rise is setting the stage for a rapid reversal, which would bruise those who have sought refuge in the U.S. currency in recent months. Soaring U.S. interest rates, a comparatively strong American economy and demand for a haven from...
Oil prices slide $2/bbl; settle at 9-month lows on dollar strength
Date: September 26, 2022
By Laura Sanicola (Reuters) – Oil prices fell $2 a barrel on Monday, settling at nine-month lows in choppy trade, pressured by a strengthening dollar as market participants awaited details on new sanctions on Russia. Brent crude futures for November settled down $2.09, or 2.4%, to $84.06 a barrel, plunging below levels reached on January...
Sterling hits all-time low versus broadly stronger dollar
Date: September 26, 2022
By John McCrank NEW YORK (Reuters) -The British pound dropped to an all-time low against the dollar on Monday as investors worried Britain’s new economic plan will hurt the country’s finances, while the Bank of England said it was watching financial markets “very closely” following sharp moves in asset prices. The dollar, helped by sterling’s...