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FTSE 250 movers: Housebuilders, property stocks rally on UK CPI data
Housebuilders were in favour as UK data showed a bigger-than-expected decline in consumer price inflation, easing pressure on the Bank of England to keep hiking rates.
Tata to invest in UK gigavolt car battery factory
Jaguar Land Rover owner Tata Group is to invest £4bn to build an electric car battery gigafactory in the UK, te company said on Wednesday.
Europe midday: Gains pared but UK CPI fall still driving rally
European shares eased off morning highs on Wednesday, but were still higher as UK inflation fell further than expected, sending property and housebuilding stocks higher on hopes of a halt to interest rate rises.
National Grid sells 20% of gas unit to Macquarie consortium for £700m
National Grid has sold a further 20% of its UK National Gas transmission and metering business to the existing majority owners, a consortium of investors led by Macquarie Asset Management, for around £700m.
EZ inflation confirmed at 5.5%; Construction up 0.2%
Eurozone annual inflation was confirmed at 5. 5% in June from 6. 1% in May, final official data from Eurostat showed Wednesday.
Europe open: Stocks rally on cooler UK CPI; Housebuilders surge
European shares rallied on Wednesday, as UK inflation fell further than expected, sending property and housebuilding stocks higher on hopes of a halt to interest rate rises.
Woodside Energy posts fall in Q2 revenues
Australian oil and gas producer Woodside Energy reported a fall in second-quarter sales due to weaker commodity prices and ongoing maintenance work, but held production guidance.
Rio Tinto warns of China-led slowdown as Q2 iron ore shipments slip
Anglo-Australian mining giant Rio Tinto warned of a broader global economic slowdown on Wednesday, driven by China’s stumbling recovery from the Covid pandemic, as it posted a slight fall in iron ore shipments for the second quarter.