A look at the day ahead in U.S. and global markets from Mike Dolan Markets finally worked out May might be a bit bumpy after all. Another echo of March’s bank stock stress on Tuesday along with the alarming prospect of the U.S. government running out of cash in less than a month was enough…
By Mike Dolan LONDON (Reuters) -The surging euro may be the European Central Bank’s best friend for a change. Unlike much of the past 15 years, euro strength is on the ECB’s side as it meets on Thursday. And it is unlikely to restrain the central bank from tightening further. With so much focus on…
By Nell Mackenzie and Tom Westbrook LONDON/ SINGAPORE (Reuters) -European stocks and U.S. stock futures rose on Wednesday with hopes hinging on the Federal Reserve signalling later in the day that U.S. interest rate hikes might peak soon and the soft landing that central banks have been angling for is in sight. The pan-European STOXX…
By Giulio Piovaccari and Gilles Guillaume MILAN (Reuters) -Stellantis said on Wednesday improvements in chip supply and price rises boosted its revenues in the first quarter, but was cautious on the outlook for the rest of the year as its vehicle inventories were growing. CFO Richard Palmer, who will leave the world’s third-largest carmaker by…
By Ali Kucukgocmen and Nevzat Devranoglu ISTANBUL (Reuters) -Turkish annual inflation slowed to 43.68% in April, official data showed on Wednesday, easing ahead of elections that polls show President Tayyip Erdogan risks losing largely due to a cost-of-living crisis. Unorthodox rate cuts sought by Erdogan sparked a currency crisis in late 2021, sending inflation to…
BRUSSELS (Reuters) – Euro zone unemployment rate fell to 6.5% in March, the European Union’s statistics office Eurostat said, a decline that points to a further tightening of the labour market an spells more trouble for the European Central Bank in fighting inflation. The March unemployment rate in the 20 countries using the euro is…
By Rozanna Latiff KUALA LUMPUR (Reuters) -Malaysia’s central bank unexpectedly raised its benchmark interest rate on Wednesday, as it looks to manage persistent inflation amid strong domestic demand. Bank Negara Malaysia (BNM) lifted its overnight policy rate by 25 basis points to 3%, confounding economists expectations for an extended pause. Some economists now see the…
By Ahmad Ghaddar LONDON (Reuters) -Oil prices extended losses on Wednesday after plunging 5% in the previous session, as investors fretted about the health of the U.S. economy ahead of an expected Federal Reserve interest rate hike later in the day. Brent futures fell $1.07, or 1.4%, to $74.25 a barrel by 0818 GMT, while…
BERLIN (Reuters) -Luxury carmaker Porsche will raise prices by 4-8% in Europe and the U.S. in the second half to combat higher costs that weighed on returns in the first quarter, even as profits and revenue jumped by over 25%, it said on Wednesday. The company was still seeing issues with the supply of semiconductors…
STOCKHOLM (Reuters) – Sweden-based Volvo Cars said on Wednesday that sales increased by 10% year-on-year in April to 51,976 cars, boosted by strong gains in China. Volvo Cars, which is majority-owned by China’s Geely Holding, said in a statement that sales in China were up 46%. In Europe, its biggest market, sales were up 5%,…
