Fidelity Top Stories
Americans rein in spending in May, PCE inflation in line
Americans reined in their spending in May even as incomes grew more quickly than expected.
UK life insurers' exposure to Thames Water is 'minimal', Citi says
Analysts at Citi pointed out on Thursday that the UK life insurance sector's direct exposure to Thames Water was "minimal".
Serco shares soar after profit upgrade amid demand for immigration services
UK government outsourcer Serco lifted annual guidance on Thursday after a strong first half, driven by higher demand for its immigration services.
B&M Q1 sales up 13.5% as shoppers hunt for bargains
B&M European Value Retail reported a 13. 5% rise to £1. 3bn in group first quarter revenue, in line with expectations, as consumers searched for bargains amid the cost of living crisis.
Direct Line sees no material hit from claim underpayment redress
UK insurer Direct Line said rectifying unfair motor claim payments over a five-year period to 2022 would not have a "material financial impact" on this year's results.
US consumer confidence strengthens in June, recession concerns ease
Consumer confidence in the US bounced back led by younger Americans with fewer respondents expressing concern over a looming recession.
Unbound shares tank as group pulls sale after no offers emerge
Shares in Hotter Shoes owner Unbound Group tanked on Tuesday after the company said it had taken itself off the market after receiving no buyout offers.
AB Foods lifts outlook as Primark sales rise 13% on strong summer
Third-quarter sales at discount fashion chain Primark grew 13%, driven by strong summer sales and higher prices as customers seek value for money amid the cost of living crisis, leading parent company Associated British Foods to lift annual guidance.
Bank of England chooses to surprise, hikes by 50bp
The Bank of England went ahead and surprised financial markets with a half percentage point interest rate hike.
Swiss central bank ups interest rates, strikes hawkish tone
The Swiss National Bank increased the cost of borrowing for the fifth time on Thursday, as it looked to get inflation under control.
Fed's Powell reiterates nearly all FOMC members expect 'somewhat' more rate hikes
The head of the US central bank reiterated that the Federal Reserve remained "squarely focused" on its dual mandate of maximum employment and stable prices.
US consumer confidence picks up in June, inflation expectations drop, University of Michigan says
Consumer confidence in the US improved a bit in June, alongside a big drop in inflation expectations.
Tesco holds guidance as Q1 sales up 8.8%; Sees signs of easing inflation
First-quarter sales Tesco surged 8. 8% as the supermarket giant held annual guidance and said there were “encouraging” signs that inflation was starting to ease for struggling customers.
Philly Fed manufacturing index dips a bit more than expected in June
Manufacturing sector activity in the US mid-Atlantic region weakened a tad more than expected in June, the results of a closely followed survey showed.
ECB hikes again, revises core CPI forecasts higher
Rate-setters in Frankfurt hiked its main interest rates again, as expected, as inflation appeared set to remain "too high for too long".
US retail sales hold up in May, rise 0.4%
American consumers continued to spend at a steady clip last month.
Fed skips rate hike, gains time to analyse more data
Rate-setters at the Federal Reserve skipped a rate hike at Wednesday's meeting in order to buy time to gather further information before possibly tightening policy more.
US wholesale inflation slips more than expected in May amid drop in energy
Wholesale prices declined by more than anticipated last month amid a retreat in energy and food prices.
US CPI gains slow to 4.0% in May
The cost of living in the US rose by a tad less than anticipated last month.
BofA analysts say S&P 500 'bear market' now dead
Equity analysts at Bank of America Securities sounded a 'bullish' note on the outlook for stocks, declaring the 'bear market' "officially over" and telling clients the new 'bull market' had legs.