Fidelity Top Stories
Friday preview: Fed's Powell, BoJ in the spotlight
The market spotlight at the end of the week will be on US Federal Reserve chairman, Jerome Powell, who is due to speak at a conference on the international role of the dollar.
Philly Fed index dips unexpectedly in June
Manufacturing activity in the US mid-Atlantic region softened a tad in June as firms received fewer new orders, according to the results of a closely-followed survey.
US jobless claims little changed in latest week
The number of Americans filing for jobless claims for the first time was little changed last week.
Brexit, Ukraine war set to push UK food prices up 15% - IDG
British food prices are set to surge 15% this summer and will remain high for at least a year, in a further blow to hard-pressed consumers already struggling with the cost-of-living crisis, according to a report released on Thursday.
BHP to shut down coal mine after failing to find buyer
Australian minerals giant BHP is closing down a coal mine in New South Wales after failing to find a buyer, the company said on Thursday.
Fed announces 75bp hike, leaves door open to same in July
The Federal Reserve hiked interest rates by more than expected on Wednesday and left the door open to another such move in July.
WH Smith sees FY results at top end of expectations
WH Smith on Wednesday said it expected annual results to be at the upper end of expectations as it reported a surge in revenue over pre-Covid pandemic levels for the first time, driven by a recovery in the travel market.
BP takes major stake in Australian renewable energy hub
Gas and oil giant BP has taken a 40. 5% stake in a renewable energy hub in Western Australia’s Pilbara region for an undisclosed sum.
FirstGroup reinstates dividend as profits rise
Rail and bus operator FirstGroup, which last week rejected a £1. 23bn takeover approach, reported higher adjusted operating profits and reinstated its dividend as travel recovered from the Covid pandemic.
Treasury market under selling pressure as traders mull need for 75 bp Fed rate hike
A wave of selling swept across government debt markets as economists and traders began to openly ponder the very real possibility that the US central bank's next move on interest rates, next 15 June, should be a 75 basis point hike and not 50bp.
Heathrow reports busiest month since March 2020
Heathrow said passenger numbers in May were at 79% of pre-coronavirus levels, its busiest month since March 2020, despite travel chaos that has seen hundreds of flights cancelled across UK airports due to staff shortages.
US consumer confidence hits 40-year low in May, U.Michigan says
A key gauge of consumer confidence hit a more than 40-year low in early June, led by a deteriorating outlook for business conditions one-year ahead.
US CPI rises past forecasts in May, back at 40-year high
The cost-of-living in the US rose more quickly than expected last month amid broad-based gains by categories.
ECB boss queried on 'fragmentation' risks
European Central Bank boss was grilled by journalists about potential fragmentation risks in the euro area after the Governing Council announced its decision to stop asset purchases and to signal the start of an interest rate hiking cycle from July.
ECB signals intention to hike rates by 25bp in July, possibly more in September
The European Central Bank announced that it will wrap up its asset purchases on 1 July and execute a first rate hike of 25 basis points that same month, followed by another - possibly larger - increase in September and with more to come thereafter.
Mitie reinstates dividend, unveils £50m buyback on return to profit
Detention centre and building facilities operator Mitie reinstated its dividend and unveiled a £50m share buyback as it swung to a full-year profit, boosted by new contract wins.
FirstGroup rejects £1.2bn approach from I Squared
Bus and train operator FirstGroup has formally rejected a £1. 2bn takeover approach from US private equity firm I Squared, saying it “significantly undervalues” the firm and a conditional cash component did not provide shareholders with enough certainty.
Wizz Air warns of Q1 loss as costs outpace summer demand
Low-cost airline Wizz Air said it expected to make a first-quarter loss despite strong summer demand as it deployed extra resources to minimise disruption due to staff shortages and supply chain issues.
UK house prices slowing as market shows signs of cooling - Halifax
UK house prices slowed again in May as the market showed signs of cooling as soaring inflations starts to hit buyers, mortgage lender Halifax said on Wednesday.
Reserve Bank of Australia delivers larger than expected rate hike
Rate-setters in Australia surprised many participants in financial markets with a larger-than-expected interest rate hike in response to a "significant" rise in inflation.