Market Pulse - Europe
Citi sees UK inflation hitting 18% peak in January
Economists at Citi raised their forecasts for the peak in UK inflation to 18% in the wake of the additional 25% rally in UK gas prices and 7% rise in electricity costs over the previous week.
Credit Suisse appoints CFO, group COO in executive shake-up
Credit Suisse announced the appointments of Dixit Joshi as its chief financial officer, and Francesca McDonagh as group chief operating officer, as part of an executive shake-up on Monday.
Week ahead: Jackson Hole Symposium, Global PMIs in the spotlight
All eyes over the coming week will be on cental banking symposium at Jackson Hole, Wyoming (USA), with investors keen for further guidance on the path that the US central bank's monetary policy may follow in 2023.
Europe close: Stocks slip amid record German producer prices and natural gas quotes
European equity markets extended their losses on Friday, with investors assessing the inflation picture on both sides of the Channel following a record rise in German producer prices.
Citi downgrades Experian on concerns around falling housing transaction volumes
Analysts at Citi downgraded their recommendation for shares of Experian to 'neutral' due to their "cyclical" concerns around its North American business-to-business unit.
BofA strategists sound bearish note on stocks, say Fed 'nowhere near done'
BofA Securities strategists sounded a 'bearish' note on the outlook for equity markets arguing that the US central bank was not done and enumerating a list of reasons to back up their thinking.
UK public sector net borrowing jumps in July on higher debt servicing costs
Britain's public sector borrowed more than expected last month amid increased costs for servicing its debt and rising social assistance payments.
German producer prices surge at record pace in July amid dearer energy
Producer prices in the euro area's largest economy continued accelerating last month with energy prices more than doubled versus a year ago.
Euro area July CPI confirmed at up by 8.9% on the year and 0.1% month-on-month
Revised data confirmed a modest rise in the cost of living in the euro area last month.
ECB's Schnabel says euro area inflation outlook has not changed fundamentally
A top European Central Bank official said that the outlook for inflation in the single currency area had not improved.
London midday: Stocks back in the black ahead of US data
London stocks had moved back into the black shortly after midday ahead of the release of a fresh batch of key economic data Stateside.
Rhine water levels at Kaub set to recover over the weekend
Minimum water levels needed to navigate the Rhine river at a key choke point were expected to stage a partial recovery over the weekend.
ECB's Kazaks says inflation 'unacceptably high'
A top European Central Bank official predicted that the monetary authority would continue hiking interest rates.
Credit Suisse bumps up target price for BHP, but stays at 'neutral'
Credit Suisse analysts reiterated their 'neutral' recommendation for shares of BHP Group following what they described as a "solid" set of results out of the mining group.
Frasers Group tables all-cash offer for Australian rival MySale
Frasers Group tabled an all-cash offer for its smaller Australian rival MySale in a bid to grow its presence Down Under.
London midday: Stocks dip following CPI data at 40-year high
London stocks were lower on Wednesday as investors mulled the latest UK inflation data which showed consumer prices climbed at their fastest clip in 40 years in July.
Berenberg slashes target for Gem Diamonds but stays at 'buy'
Analysts at Berenberg slashed their target price for shares of Gem Diamonds on the back of the miner's second quarter trading statement.
Euro area Q2 GDP revised slightly lower, slowdown seen ahead
The euro area's economy expanded at a slightly slower pace than previously estimated over the three months to June, alongside steady growth in employment.
Deutsche Bank slashes target price for 888 but stays at 'buy'
Analysts at Deutsche Bank slashed their target price for shares of 888 following the company's first set of results following completion of the acquisition of William Hill.
BA reaches pay settlement with staff
British Airways staff clinched an average 13% pay rise to help offset the cost-of-living crisis and the pay cuts suffered during the pandemic.