(Reuters) -UK shares bounced back on Wednesday after suffering their worst day in nearly five months in the previous session as investors worried about the fiscal health of the British economy. The blue-chip FTSE 100 and the domestically focussed midcap index both closed up 0.7%. Stocks had closed lower on Tuesday, pressured by rising yields …
UK stocks close higher, bolstered by banks and healthcare stocks Read More »
PARIS (Reuters) -Central bank independence does not stand in the way of low interest rates, French ECB policymaker Francois Villeroy de Galhau said on Wednesday, joining a growing chorus of central bankers defending the Federal Reserve against White House interference. U.S. President Donald Trump is piling pressure on the Fed to cut interest rates, regularly …
Central bank independence is no obstacle to low rates, says ECB’s Villeroy Read More »
By Promit Mukherjee OTTAWA (Reuters) -Canada’s Prime Minister Mark Carney said on Wednesday that the upcoming federal budget would focus on both austerity and investments, adding that current government spending was unsustainable. Canada has been dealing with economic uncertainty since the start of the year, so the primary focus of the budget will be to …
Canada’s budget will focus on austerity and investment, says PM Carney Read More »
BRASILIA (Reuters) -Brazil’s Senate has approved a constitutional amendment that will gradually include court-ordered debt payments in fiscal target calculations starting in 2027, easing fiscal pressure ahead of next year’s presidential election. WHY IT’S IMPORTANT A Supreme Court waiver allows only part of these payments to count toward Brazil’s fiscal goals, but this exemption expires …
Brazil’s Congress clears new fiscal rule for court-ordered debt payments Read More »
(Reuters) -Turkey’s central bank is likely to scale back planned interest rate cuts, beginning with only 200 basis points next week, after inflation in August came in above expectations, driven by surging food and services, JPMorgan said on Wednesday. Inflation came in higher than expected at nearly 33% annually and more than 2% on a …
JPMorgan sees Turkey scaling back rate cuts after high inflation data Read More »
By Sarupya Ganguly BENGALURU (Reuters) -The U.S. dollar will weaken over coming months as market participants ponder the Federal Reserve’s future independence and how many more rate cuts it may deliver, a Reuters survey of foreign exchange strategists showed on Wednesday. The greenback, down nearly 10% against a basket of major currencies this year, has …
Fed rate cuts and doubts over independence to keep US dollar under pressure Read More »
CAIRO (Reuters) -Egypt’s non-oil private sector contracted for a sixth month in August as weak demand continued to weigh on business activity, S&P Global reported on Wednesday. Easing cost pressures, however, provided some relief to firms. The S&P Global Egypt Purchasing Managers’ Index (PMI) dipped to 49.2 in August from 49.5 in July, remaining below …
Egypt’s non-oil private sector contracts further in August, PMI shows Read More »
By Joice Alves LONDON (Reuters) -Italian stocks continue to trade at a deep discount to global peers, even after surging this year, reflecting nagging concerns about fiscal credibility and weak long-term growth prospects. Italian shares are up around 40% so far this year, their highest level since 2008, reflecting strong gains by banks and defense …
Italy’s stocks rally but the market remains (very) cheap Read More »
JOHANNESBURG (Reuters) -South African businesses experienced a very modest improvement in operating conditions in August as cost pressures eased, the S&P Global South Africa Purchasing Managers’ Index showed on Wednesday. The headline PMI stood at 50.1 for the month, slightly down from 50.3 in July and marking the fourth consecutive month above the 50.0 threshold …
South Africa’s business activity edges up as cost pressures ease in August, PMI shows Read More »
BENGALURU (Reuters) -India’s services sector growth accelerated to a 15-year high in August on robust demand, which also pushed prices higher at the fastest rate in over a decade, a business survey showed on Wednesday. That comes after official data showed Asia’s third-largest economy grew at a much-higher-than-expected 7.8% rate last quarter. But the Trump …
