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Oil rises on Saudi oil production expectations
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ECB set for 25bps rate hike in July; slim majority say should do 50 -economists
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Sterling struggles to pull away from March 2020 low
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Burberry held back by China lockdowns and U.S. weakness
European shares rebound with focus on Italian politics, earnings
Date: July 15, 2022
By Susan Mathew (Reuters) -Automakers and retail stocks on Friday led a rebound in European shares from a two-day rout that saw investors grapple with shifting expectations of U.S. interest rate hikes, a political crisis in Italy and recession risks. Italian shares rose 1.4%, bouncing off 2-1/2 year lows hit in the previous session as...
Five contenders to be next UK PM to face off in TV debate
Date: July 15, 2022
By Michael Holden LONDON (Reuters) -The five remaining contenders to be Britain’s next prime minister will go head to head in the first of three televised debates on Friday, hoping a good performance will boost their chances in a battle that so far has no clear frontrunner. An initial field of 11 challengers has been...
FTSE 100 gains but set for weekly losses on slowdown worries
Date: July 15, 2022
By Sruthi Shankar (Reuters) -Oil and defensive stocks on Friday lifted London’s FTSE 100 index, which was still set for a weekly loss on worries about aggressive interest rate hikes and a sharp slowdown in China’s economy. The blue-chip FTSE 100 added 0.6%, supported by energy giant Shell and British American Tobacco. The domestically focussed...
Dollar consolidates at 2-decade high; euro at parity
Date: July 15, 2022
By Saikat Chatterjee LONDON (Reuters) – The U.S. dollar held at a two-decade high on Friday as a broad wave of risk aversion swept through global markets, with traders flirting with the prospect of a 100 basis point rate hike by the Federal Reserve later this month. Currencies perceived as riskier, including the Aussie and...
Saudi sovereign fund to become Aston Martin’s no.2 shareholder
Date: July 15, 2022
(Reuters) -Saudi Arabia’s sovereign wealth fund will become the second-largest shareholder of Aston Martin with a nearly 17% stake in a capital raise aimed at paying off debt and shoring up its business, the British luxury carmaker said on Friday. The company, faced with with high debt, a torrid stock fall and a struggling Formula...
Europe car sales lowest since 1996 after 12-month decline
Date: July 15, 2022
BERLIN (Reuters) -Europe registered the lowest number of new passenger cars in the month of June this year since 1996 at just over 1.06 million vehicles, with some carmakers seeing sales drop by nearly 50%, data from Europe’s automobile association showed on Friday. Volkswagen Group was the hardest-hit major carmaker with nearly a quarter less...