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TradingWeakening Economic Data Sends Sterling to New Lows Against Dollar and Euro
Top StoriesFrench Central Bank Sees 0.2% Second Quarter Growth
Top StoriesTesla Stutters Under Tighter Shanghai Lockdown; Beijing Keeps Hunting Covid
TradingSterling Steadies Near June 2020 Low
Italy Industry Output Flat in March After February Jump
Date: May 10, 2022
ROME, May 10 (Reuters) – Italian industrial output held up much better than expected in March, posting a flat reading from the month before after a jump of 4.0% in February, data showed on Tuesday. A Reuters survey of 16 analysts had pointed to a 1.9% drop in March. On a work-day adjusted year-on-year basis,...
Pandemic Pushes Spanish Workers Out of the Shadows
Date: May 9, 2022
By Belén Carreño and Gavin Jones MADRID/ROME (Reuters) – For decades, a cash-filled envelope – or “sobre” – was how hundreds of thousands of Spaniards working without legal contracts in tourism, agriculture or construction collected their salaries. COVID-19, however, may finally be putting paid to the “sobre”, economic data and workers’ experiences suggest – accelerating...
European Stocks Hit 2-month Lows on Mining, Tech Losses
Date: May 9, 2022
(Reuters) -European shares hit two-month lows on Monday, led by miners as investors fretted over a sharp economic slowdown in China due to prolonged COVID-19 curbs, while surging bond yields kept technology stocks under pressure. The pan-European STOXX 600 index dropped 1.2% to touch its lowest since March 10. Miners fell 2.8% as Chinese iron...
Euro Zone Investor Morale Slumps, Recession “becoming Visible”
Date: May 9, 2022
BERLIN (Reuters) – Investor morale in the euro zone fell in May to its lowest level since June 2020, a survey showed on Monday, dropping for the third month in a row as the impact of the war in Ukraine on Europe’s largest economy becomes increasingly clear. Sentix’s index for the euro zone fell to...
As Beijing Battles Outbreak, China Warns ‘zero Covid’ Doubters
Date: May 6, 2022
By Eduardo Baptista and David Stanway BEIJING/SHANGHAI (Reuters) -Beijing residents fretted on Friday over tightening COVID curbs in its biggest district and dozens of new cases reported daily as China’s leaders reiterated their resolve to battle the virus and threatened action against critics of their strict measures. Incurring a heavy economic cost and facing rare...
German Industrial Output Falls More Than Expected in March
Date: May 6, 2022
BERLIN (Reuters) – German industrial production fell more than expected in March as pandemic restrictions and war in Ukraine disrupted supply chains, making it difficult to fill orders, official data showed on Friday. The Federal Statistics Office said industrial output fell 3.9% on the month after a downwardly revised increase of 0.1% in February. A...