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Stocks lose ground, Treasury yields soar after inflation data
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U.S. startup valuations contract as early-stage investors turn cautious
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FTSE 100 ends down as GSK slumps, eyes on GDP data
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Bank of Canada’s ‘soft landing’ scenario hits the rocks in bond market
European shares tick higher; Aegon shines on forecast raise
Date: August 11, 2022
By Shreyashi Sanyal, Anisha Sircar and Yohann M Cherian (Reuters) – European shares edged higher on Thursday after a strong rally in the previous session on signs of U.S. inflation cooling, while Aegon climbed after the Dutch insurer raised its full-year forecast. The pan-European STOXX 600 index rose 0.1%, after clocking its best session in...
U.S. producer prices fall in July; weekly jobless claims climb
Date: August 11, 2022
(Reuters) – U.S. producer prices unexpectedly fell in July amid a drop in the cost for energy products and underlying producer inflation appears to be on a downward trend, while jobless claims rose for a second straight week in a labor market that remains tight. The producer price index for final demand declined 0.5% last...
Dollar extends declines as traders pull back rate hike bets
Date: August 11, 2022
By John McCrank NEW YORK (Reuters) – The dollar extended its losses against other major currencies on Thursday, a day after a report showed U.S. inflation was not as hot as anticipated in July, prompting traders to dial back expectations for rate hikes by the Federal Reserve going forward. Investors slashed bets on the possibility...
GSK, Sanofi, Haleon slump on Zantac litigation concerns
Date: August 11, 2022
By Natalie Grover and Danilo Masoni LONDON (Reuters) -Shares in GSK, Sanofi and Haleon fell sharply on Thursday, following declines earlier this week, amid growing investor concerns about U.S. litigation focused on a heartburn drug that contained a probable carcinogen. Around 1400 GMT, GSK shares were down 6.8%, Sanofi’s were down 6.9% and Haleon’s down...
Wildfires burn, farmers struggle as another heatwave bakes western Europe
Date: August 11, 2022
By Manuel Ausloos and Stephane Mahe HOSTENS, France (Reuters) -European nations sent firefighting teams to help France tackle a “monster” wildfire on Thursday, while forest blazes also raged in Spain and Portugal and the head of the European Space Agency urged immediate action to combat climate change. More than 1,000 firefighters, backed by water-bombing planes,...
OPEC, in contrast to IEA, sees lower 2022 oil demand growth
Date: August 11, 2022
By Alex Lawler LONDON (Reuters) -OPEC on Thursday cut its 2022 forecast for growth in world oil demand for a third time since April, citing the economic impact of Russia’s invasion of Ukraine, high inflation and efforts to contain the coronavirus pandemic. The view from the Organization of the Petroleum Exporting Countries contrasts with that...