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Europe close: Italy windfall levy sparks sell-off in banking shares
European shares closed lower on Tuesday as Italy's decision to impose a 40% windfall tax on bank profits sparked fears that other European states could do the same - leading to a sell-off in the sector.
Europe midday: Italian banks tank on levy; China data disappoints
European shares were lower on Tuesday as weaker-than-expected trade data from China and poor UK retail sales survey data hit sentiment, while Italian bank stocks plunged after the government introduced a 40% windfall tax on profits.
London midday: Shares down on China data, weak earnings news
The FTSE 100 was trading lower on Tuesday as weak economic data from China and disappointing corporate earnings dampened sentiment in the mining sector.
Glencore profits halve on weaker commodity prices
Mining giant Glencore saw earnings halve in the first six months of the year on weaker commodity prices, which had surged in response to Russia's unprovoked invasion of Ukraine last year.
China travel rebound helps IHG interim profits rise 62%
Hotels operator IHG on Tuesday reported a sharp jump in half-year profit as the travel sector continued to rebound from the Covid pandemic.
Europe open: Shares fall on China data; Italy banks hit by govt levy
European shares opened lower on Tuesday as weaker-than-expected trade data from China and poor UK retail sales survey data hit sentiment, while Italian bank stocks plunged after the government introduced a 40% windfall tax on profits.
Wet weather, inflation hit July UK retail sales - BRC
Heavy rain and high inflation hit UK retail sales in July, forcing firms to cut prices, a survey showed on Tuesday.
China trade slumps more than expected in July
China’s imports and exports slumped further than expected last month, official data showed on Tuesday, reflecting a stagnating recovery in the world's second-largest economy and increasing pressure on Beijing to provide more stimulus.