Volatile week as investors assess recession prospects

LONDON — European markets closed sharply higher on Friday to end a volatile week, as investors around the world assessed recession inflation and fears of an economicion. The pan-European Stoxx 600 index closed up by 2.6% provisionally, its best day in more than three months, with tech shares adding 3.8% to lead gains as all … Read more

Germany warns of industrial shutdown if Putin turns off gas taps – live updates

Ggood morning. Germany faces an industrial shutdown unless Russian gas supplies improve, one of its top ministers warned today. In an interview, economy minister Robert Habeck said: “Companies would have to stop production, lay off their workers, supply chains would collapse, people would go into debt to pay their heating bills, that people would become … Read more

Germany triggers ‘alarm’ stage of emergency gas plan as Putin cuts supplies

Ggood morning. The Government borrowed more than forecast in May, highlighting risks to the public finances as the cost-of-living crisis threatens to tip Britain into a recession. Rishi Sunak borrowed another £14bn last month, which was £2bn higher than economists had forecasts. Debt interest payments hit £7.6bn – the highest for any May on record, … Read more

Prepare now for Putin to cut off gas supply, Europe warned

Ggood morning. There’s no let-up in the latest inflation figures, which hit a new 40-year high in May. The consumer price index rose to 9.1pc last month, according to the ONS. That’s up from 9pc a month earlier. Prices rose 0.7pc in the month alone, which marks a slowdown from the 2.5pc pace recorded in … Read more

Food prices to surge 15pc this summer

Ggood morning. Households will face a fresh assault on their finances this summer amid predictions that food prices will arise 15pc. Grocery inflation is set to accelerate in the coming months, driven by higher costs for items such as meat, cereals, dairy, fruit and vegetables. That’s according to the Institute of Grocery Distribution, which also … Read more

British tech giant Arm to list in London after sale blocked over national security

Ggood morning. Britain’s tech sector has been given a welcome boost this morning after it emerged SoftBank is planning to list some of its stake in chip designer Arm in London. The Japanese conglomerate had been preparing an initial public offering in New York after a $40bn (£30bn) sale to Nvidia was blocked on national … Read more

European stocks open to close as markets are rattled by central banks

LONDON — European stocks advanced on Tuesday after sharp declines in global markets on Monday, amid fears that central banks will be forced into aggressive monetary policy tightening with inflation remaining high. The pan-European Stoxx 600 added 0.7% in early trade, with banks climbing 1.7% to lead gains as all sectors and major bourses moved … Read more

Wall Street enters bear territory as inflation shock rattles global markets

Ggood morning. We start the week with more dire economic data, as the UK economy posted a bigger-than-expected decline for April. GDP shrank 0.3pc over the month. This outstripped economists’ forecasts and followed a 0.1pc decline in March. The figures reflect the impact of the 54pc jump in energy prices in April, which exacerbated the … Read more

European markets open to close, stocks, data, earnings

LONDON— European stocks tumbled on Monday as investor sentiment was dominated by the prospect of forthcoming interest rate hikes. The pan-European Stoxx 600 fell 2.2% by late morning, with tech stocks and autos shedding 3.8% to lead losses as all sectors and major bourses slid into negative territory. The slump in sentiment in Europe on … Read more

Europe markets open to close after ECB meeting; US inflation data ahead

LONDON — European stocks closed lower on Friday as investors reacted to the European Central Bank’s latest policy decisions and a hotter-than-expected US inflation print. The pan-European Stoxx 600 ended the day down 2.7%, with banks shedding 4.9% to lead losses as all sectors and major bourses closed in negative territory. The ECB on Thursday … Read more