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Top StoriesVoestalpine Warns Outlook Depends on Continued Gas Supplies
Top StoriesEuro Zone Business Activity Contracted in July as Customers Stayed Home
Top StoriesFrench Services Growth Slowed Less Than First Forecast in July -Final PMI
Top StoriesInflation, Gas Supply Concerns End German Services Sector Rebound -PMI
Commerzbank Sees Energy and Growth ‘clouds’ After Q2 Profit Beat
Date: August 3, 2022
By Tom Sims and Marta Orosz FRANKFURT (Reuters) – Germany’s Commerzbank swung on Wednesday to a bigger-than-expected second-quarter net profit, helped by higher interest rates and commission income, and confirmed it was on track to meet its profit target despite “clouds” on the horizon. The return to profit at Germany’s No. 2 bank is a...
Spanish Services Sector Growth Slows Slightly in July -PMI
Date: August 3, 2022
MADRID (Reuters) – Activity in Spain’s services sector grew in July at the slowest pace since March, with companies increasingly concerned about the impact of high inflation on businesses and the economy, a survey showed on Wednesday. S&P Global’s Purchasing Managers’ Index (PMI) of services companies, which account for around half of Spain’s economic output,...
Russian Services Sector Records Fastest Output Growth in Over a Year -PMI
Date: August 3, 2022
MOSCOW (Reuters) – Russia’s services sector expanded in July at its fastest pace in more than a year, a business survey showed on Wednesday, as strong domestic demand outweighed slumping export orders for Russia’s increasingly isolated firms. The S&P Global Purchasing Managers’ Index (PMI) rose to 54.7 in July, its highest since June 2021 and...
Euro Area to Get Back Half What It’s Spending on War Fallout – ECB
Date: August 2, 2022
FRANKFURT (Reuters) – Euro zone countries are spending more than they will get back to cushion the economic hit from the Ukraine war via fuel subsidies and other support measures, the European Central Bank said on Tuesday, telling governments to use their cash more efficiently. The 19 countries that share the euro approved support measures...
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...
Italy’s Right-Wing Frontrunners See Room to Revamp National Recovery Plan
Date: August 1, 2022
By Angelo Amante and Giuseppe Fonte ROME (Reuters) – The Brothers of Italy party, in pole position for next month’s elections, sees room to revamp parts of an European Union-funded investment programme to help the economy tackle an energy crisis and soaring costs, a party official said on Monday. Prime Minister Mario Draghi’s resignation has...