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Bumper earnings from BP help steady FTSE 100
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Sterling loses steam as traders turn to safe-haven currencies
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Oil slips as global demand concerns weigh, OPEC+ meeting eyed
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Risk-off mood hits European shares; Sino-U.S. tensions weigh
Maersk sees global supply chain woes for longer; lifts 2022 guidance
Date: August 2, 2022
By Jacob Gronholt-Pedersen COPENHAGEN (Reuters) -Maersk raised its 2022 profit guidance for a second time on Tuesday after beating quarterly revenue expectations as congested global supply chains that have boosted freight rates persist longer than expected. The shipping industry has seen record profits in recent quarters due to a surge in consumer demand and pandemic-related...
Yen set for biggest run of gains in more than 2 years
Date: August 2, 2022
By Saikat Chatterjee LONDON (Reuters) – The yen was on track for its biggest run of gains since the depths of the coronavirus crisis in March 2020, as rising U.S.-China tensions over Taiwan and deepening worries about a global economic slowdown boosted the appeal of safe-haven assets. Against the dollar, the Japanese currency was on...
Spain’s July jobless edges up 0.11% from June as uncertainty bites
Date: August 2, 2022
(Reuters) -The number of people registering as jobless in Spain rose 0.11% in July from June, by 3,230 people, leaving 2.88 million people out of work, as economic uncertainty began to be felt, the Labour Ministry said on Tuesday. It is the first time since 2008 that unemployment has risen in July, a month when...
Stocks and bond yields fall on Taiwan tensions
Date: August 2, 2022
By Tom Wilson and Kevin Buckland LONDON/TOKYO (Reuters) – Global stocks slipped and bond yields fell on Tuesday, compounding fears of a global recession, on concern that a visit by U.S. House of Representatives Speaker Nancy Pelosi to Taiwan would further harm relations between China and the United States. Investors sought safer assets after China...
Generali confirms targets as life business lifts profits
Date: August 2, 2022
By Gianluca Semeraro MILAN (Reuters) -Italy’s top insurer Assicurazioni Generali said on Tuesday it would increase prices to keep up with rising costs, and maintained its financial targets after a strong life business helped it beat first-half earnings expectations. Generali, which on Wednesday will kick off its first share buyback in 15 years, reported a...
Swiss PMI dips slightly but industry stays in growth mode
Date: August 2, 2022
ZURICH (Reuters) – The Swiss purchasing managers’ (PMI) index fell by 1.1 points in July, according to data published on Tuesday, but remained in positive territory despite concerns about rising energy prices and a slowdown in export markets. The manufacturing index dropped to a seasonally adjusted 58.0 points in July from 59.1 points in June...