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(Reuters) -European stocks inched to fresh peaks on Thursday as the European Central Bank raised its recovery outlook and promised to keep ample stimulus flowing, while travel stocks fell after a recent run of gains. REUTERS/StaffThe pan-European STOXX 600 index was up just 0.1%, but at a fresh record high of 455.76 points, while the narrower index of euro zone stocks fell 0.1%. The central bank now sees 2021 euro zone economic growth at 4.6%, above the 4% projected in March. “The ECB’s main mission today was to avoid any taper talk and not harm the still tentative economic recovery or allow bond yields to surge prematurely,” said Carsten Brzeski, global head of macro at ING. “It accomplished its mission: the ECB seems to have bought some time without starting the taper talk.”Interest rate-sensitive banking stocks rose 0.4%, while tech stocks rose 0.9%.
Persons: Christine Lagarde, , Carsten Brzeski, pare Organizations: Reuters, European Central Bank, REUTERS, Staff, ECB, ING, Federal Reserve, Volkswagen, BT Group, Altice, Spotify, Apple Music Locations: Frankfurt, Germany
Throw in accidents, cyberattacks, extreme weather and the huge disruption caused by the desperate hunt for cleaner sources of energy, and you have a perfect storm. Rising costs have pushed producer price inflation in China to its highest level in nearly 13 years. The rising costs of resin and pulp, for example, are promptingandto increase the prices of household staples such as tampons, diapers and toilet paper. Logistics and labor costs climbCommodities are not the only factor driving prices higher, however. For example, workers might demand higher wages, forcing companies to increase the price of their goods and placing additional upward pressure on salaries.
Persons: Brent, We've, George Calhoun, Mike Jackson, Joe Biden's, Tesla, Elon Musk, Gamble PG Kimberly, Clark KMB It's, India's, Warren Patterson, Patterson, Rio, we've, I'm, Biden, Andrew Kenningham, Joe Biden Whirlpool, Marc Bitzer, Bitzer, Carsten Brzeski, Larry Summers, Mervyn King, Lael Brainard, Kenningham, — Charles Riley, Laura He, Chris Isidore Organizations: Organization for Economic Cooperation, Development, Stevens Institute of Technology, United Oil, Ford, Volkswagen, Fiat Chrysler, Nissan, Bureau of Labor Statistics, Congress, Bloomberg, National Association of Home Builders Association, Procter, Gamble, Colonial Pipeline, ING, Factories, Global, UN Food and Agriculture Organization, FAO Food Price, Nestlé, Unilever UL, Logistics, Commodities, Labor, Capital Economics, Bloomberg Television, Cummins CMI, US, Bank of, Deutsche Bank, Federal Reserve, CNN Business Locations: lockdowns, Moscow, Russia, New Jersey, Sunset Blvd, Los Angeles, United States, Volkswagen Navarra, Spain, China, Shanghai, Texas, Suez, South America, North America, Australia, Brazil, Thailand, Europe, Santa Cruz, Rio Pardo , Sao Paulo state, Cleveland , Ohio, Germany
FRANKFURT — Despite the whole world preparing for a return of inflation, market participants in Europe are actually expecting the European Central Bank to keep its foot on the stimulus pedal this week. "The effects will be transitory but could last easily until next year's summer, keeping inflation elevated for a while," he said. The ECB at Thursday's meeting will update its quarterly staff projections for inflation and growth, alongside its traditional rate decision and press conference. The key question is when the ECB will start to taper its massive stimulus program. But as always, withdrawing monetary stimulus is a tricky exercise and markets can react violently.
Persons: Mark Wall, Carsten Brzeski, Dirk Schumacher, Anatoli Annenkov, Holger Schmieding Organizations: European Central Bank, ECB, Deutsche Bank, ING Diba, Thursday's, Societe Generale Locations: FRANKFURT, Europe, Sintra
European shares hover near record highs; commodity stocks weigh
  + stars: | 2021-06-07 | by ( Sruthi Shankar | ) www.reuters.com sentiment -0.99   time to read: +2 min
(Reuters) -European stocks held near record highs on Monday as losses in commodity-linked shares sparked by downbeat China export data more than offset another run of gains in automakers. FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, June 4, 2021. Among the bright spots, the European automobiles and parts index hit its highest since March 2015, extending a 5.3% rally from last week. Italian lender Unicredit jumped 2.6% after Jefferies upgraded the stock to “buy” from “hold”. [GVD/EUR]French vouchers and cards provider Edenred rose 2.7% after Deutsche Bank upgraded the stock to “buy”.
Persons: ” Carsten Brzeski, Unicredit, Jefferies Organizations: Reuters, REUTERS, Staff Miners, European Central Bank, ING, ECB, Deutsche Bank Locations: China, Frankfurt, Germany, Iran, coronavirus, ,
(Reuters) -European stocks hit record highs on Monday as another run of gains in automakers more than offset early declines in commodity-linked shares sparked by downbeat China export data. The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, June 7, 2021. REUTERS/StaffThe European automobiles and parts index rose 0.9% to reach its highest since March 2015, extending a 5.3% rally from last week. The continent-wide STOXX 600 index added 0.2%, with global investors now eyeing a European Central Bank meeting later this week. French vouchers and cards provider Edenred rose 3.6% after Deutsche Bank upgraded the stock to “buy”.
Persons: ” Carsten Brzeski, Unicredit, Jefferies Organizations: Reuters, REUTERS, Staff, European Central Bank, ECB, BlackRock, Federal Reserve, ” Miners, ING, Deutsche Bank Locations: China, Frankfurt, Germany, Iran, coronavirus,
Supply disruptions cause dip in German industrial orders in April
  + stars: | 2021-06-07 | by ( ) www.reuters.com sentiment -1.00   time to read: +2 min
Swen Pfoertner/Pool via REUTERS/File PhotoGerman industrial orders dropped unexpectedly in April on falling domestic demand, data showed on Monday, as supply chain disruptions held back manufacturers in Europe's largest economy. The Federal Statistics Offices said orders for industrial goods fell by 0.2% in seasonally adjusted terms, the first drop this year after three successive increases. A breakdown of the data showed that domestic demand fell by 4.3% while foreign demand rose by 2.7%. Both consumer and capital goods posted an increase while intermediate goods contracted by 1%, the data showed. The German economy contracted by 1.8% in the first quarter as lockdown restrictions in place since November dampened household spending and raw material shortages created manufacturing bottlenecks.
Persons: Swen, Chancellor Angela Merkel's, Carsten Brzeski, Brzeski Organizations: Volkswagen, Federal Statistics Offices, ING, Greens, Thomson Locations: Wolfsburg, Germany, France, Italy, Suez
European stocks fall from record but post fourth monthly gain
  + stars: | 2021-05-31 | by ( Sruthi Shankar | Shreyashi Sanyal | ) www.reuters.com sentiment -0.99   time to read: +2 min
(Reuters) - European stocks slipped from record highs on Monday in subdued trading due to holidays in major markets, but optimism over a swift economic recovery helped the STOXX 600 index mark its fourth straight month of gains. FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, May 25, 2021. REUTERS/StaffThe pan-European index was down 0.5%, with shares in Frankfurt and Paris dropping 0.6%, each. Dovish comments from European Central Bank (ECB) policymakers, including President Christine Lagarde who said it was too early to discuss slowing its pandemic emergency bond purchases (PEPP), helped support sentiment last week. Data showed German annual consumer price inflation accelerated in May, advancing further above the European Central Bank’s target of close to but below 2%.
Persons: Assicurazioni Generali, Christine Lagarde, , Carsten Brzeski Organizations: Reuters, REUTERS, Staff, Deutsche Bank, Wall Street Journal, U.S . Federal Reserve, European Central Bank, ING Locations: Frankfurt, Germany, Paris
UPDATE 1-Euro zone bond yields rise with German inflation
  + stars: | 2021-05-31 | by ( Yoruk Bahceli | ) www.reuters.com + 0.00   time to read: +3 min
* Euro zone periphery govt bond yields tmsnrt.rs/2ii2Bqr (Recasts, adds details, updates prices)May 31 (Reuters) - Euro zone bond yields climbed on Monday, but kept well below recent highs, as a rise in German inflation further above the ECB’s target in May failed to weaken support to bond markets from the recent dovish turn of the bloc’s central bankers. Bond yields rose sharply earlier in May driven by a brighter economic outlook, prompting speculation the ECB may slow its pandemic emergency bond purchases (PEPP). But comments from ECB President Christine Lagarde and other policymakers that it is too early to remove the support have brought down bond yields. Earlier in the session, data showed Spanish inflation at the highest since 2017, while the Italian reading remained more subdued, as expected. Yields rose as a key gauge of long-term euro zone inflation expectations climbed above 1.60% for the first time in nearly two weeks.
Persons: Christine Lagarde, Rainer Guntermann, Carsten Brzeski, Ignazio Visco, Yoruk, William Maclean, Mark Potter Organizations: European Central Bank, ECB, Reuters, ECB won’t, ING, Italy’s, ECB policymaker, Bank of Italy
The pan-European index was down 0.5%, with shares in Frankfurt and Paris dropping 0.6%, each. UK and U.S. markets were closed for a holiday, keeping trading volumes muted across the board. Despite lingering worries about rising inflation, the STOXX 600 posted a 2.1% rise in May as economies gradually reopened after lockdowns and central banks reiterated support to aid the recovery. Dovish comments from European Central Bank (ECB) policymakers, including President Christine Lagarde who said it was too early to discuss slowing its pandemic emergency bond purchases (PEPP), helped support sentiment last week. Data showed German annual consumer price inflation accelerated in May, advancing further above the European Central Bank’s target of close to but below 2%.
Persons: Assicurazioni Generali, Christine Lagarde, , Carsten Brzeski, Sruthi Shankar, Shreyashi Sanyal, Sriraj Kalluvila, Christina Fincher Organizations: Deutsche Bank, Wall Street Journal, U.S . Federal Reserve, European Central Bank, ING Locations: Frankfurt, Paris, Bengaluru
German economy could return to pre-Covid levels by year-end, ING says
  + stars: | 2021-05-25 | by ( ) www.cnbc.com + 1.00   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGerman economy could return to pre-Covid levels by year-end, ING saysCarsten Brzeski, global head of macro for ING Research, says the rebound of private consumption in the second quarter will lead to a "strong summer" for Germany and the rest of Europe.
Persons: Carsten Brzeski Organizations: ING, ING Research Locations: Germany, Europe
The Karlsruhe judges said the bank had demonstrated that the 2.4 trillion euro ($2.9 trillion) Public Sector Purchase Programme (PSPP), launched in 2015 to fight off deflation, was appropriate. They have argued the ECB schemes jeopardise German taxpayers’ money and break a ban, enshrined in EU treaties, on the central bank financing governments. Since that ruling, the ECB has provided a series of documents to the German government and parliament, which accepted its arguments. Another German ECB critic, Berlin finance professor Markus Kerber, has brought a separate complaint against the ECB’s Pandemic Emergency Purchase Program (PEPP), saying the 1.85 trillion euro scheme launched last year in response to the outbreak broke a ban on financing governments. ($1 = 0.8187 euros) (Reporting by Riham Alkousaa and Michael Nienaber; Writing by Francesco Canepa; Editing by Catherine Evans and John Stonestreet)
Persons: Carsten Brzeski, Tuesday’s, Peter Gauweiler, Gauweiler’s, Bernd Lucke, Markus Kerber, reinvest, Riham Alkousaa, Michael Nienaber, Francesco Canepa, Catherine Evans, John Stonestreet Organizations: European Central, ING, CSU, ECB, Federal Government, Germany, German ECB Locations: BERLIN, Karlsruhe, Berlin
FILE PHOTO: Metal coils are seen at ArcelorMittal steel plant in Ghent, Belgium, May 22, 2018. While Friday’s deadline is “soft” - there are no penalties if countries are a few weeks late - the urgency is all too real. The grants and loans on offer via the Next Generation EU (NGEU) fund have an existential purpose too: to prevent greater divergence between rich and poor countries in the bloc that could destroy its cherished single market of 450 million people. “The NGEU was historically important as a tangible sign of solidarity,” said Daniel Gros, head of the CEPS think tank. The rest will come in instalments as planned investments and reforms reach agreed milestones and targets in a verified way.
Persons: Yves Herman, , Carsten Brzeski, Daniel Gros, couldn’t, Mark Wall, eurosceptics, Jacob Nell, Morgan Stanley, Mario Draghi, Wall Organizations: European Union, REUTERS, ING, EU, U.S, Google, Deutsche Bank, Officials, Commission, Italy’s, Deutsche, Reuters Locations: BRUSSELS, Ghent, Belgium, Asia, United States, Britain, Italy, Europe, Spain, ITALY
Solid earnings boost European stocks as ECB stands pat
  + stars: | 2021-04-22 | by ( Sruthi Shankar | Susan Mathew | ) www.reuters.com + 0.00   time to read: +2 min
(Reuters) - European stocks moved towards record highs on Thursday, following a set of strong company earnings and as the European Central Bank left policy unchanged as expected. FILE PHOTO; The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, February 3, 2021. While global investors remain nervous about a resurgent coronavirus crisis in Asia and stretched valuations in parts of U.S. equities, European stocks have enjoyed strong gains this year as COVID-19 vaccination drive and stimulus programmes lift hopes of a strong economic rebound. Birkin bag maker Hermes was up 2.1% as strong growth in Asia powered a 44% surge in quarterly sales. European companies are set to exit a two-year profit slump with a record jump that outperforms U.S. peers, with profits for companies on the STOXX 600 forecast to have risen 61% in the first quarter, as per Refinitiv IBES data.
Persons: Pernod Ricard, , Carsten Brzeski, Siemens Gamesa, Biden, Birkin, Hermes Organizations: Reuters, European Central Bank, REUTERS, Staff, Nestle, SAP, Credit Suisse, ING, Siemens, BAE Systems Locations: Frankfurt, Germany, Asia, U.S
Volkswagen wage deal with IG Metall union
  + stars: | 2021-04-13 | by ( Reuters Staff | ) www.reuters.com sentiment -0.99   time to read: +1 min
FILE PHOTO: A Volkswagen logo is seen at a construction completion event of SAIC Volkswagen MEB electric vehicle plant in Shanghai, China November 8, 2019. REUTERS/Aly Song/File Photo/File Photo/File Photo(Reuters) -Europe’s largest carmaker Volkswagen has agreed a wage deal with Germany’s most powerful union for 120,000 staff, representing 18% of its workforce, it said on Tuesday. The deal with IG Metall will see salaries rise by 2.3% from January 2022. It’s worth noting that the duration of the wage deal at 23 months is substantially longer than the original employee demand. ... As a result, employers must be satisfied with the outcome.”HOLGER SCHMIEDING, BERENBERG BANK:“The long duration of the VW deal shows that wage pressures will only start to build up slowly again.
Persons: Aly, CARSTEN BRZESKI, THOMAS GITZEL, ” HOLGER SCHMIEDING Organizations: SAIC Volkswagen, REUTERS, Volkswagen, IG Metall, ING, BANK, VW, ECB Locations: Shanghai, China, Germany
The race to succeed Germany’s Angela Merkel just got more exciting
  + stars: | 2021-04-13 | by ( Silvia Amaro | ) www.cnbc.com + 0.00   time to read: +5 min
German Chancellor Angela Merkel gestures as she sits down for the weekly cabinet meeting on April 13, 2021 at the Chancellery in Berlin. JOHN MACDOUGALL | AFP | Getty ImagesLONDON — It was never going to be easy to find a successor to Angela Merkel, German chancellor for the last 16 years. He was elected leader of Merkel's CDU party in January and claims he wants to modernize Germany. Elisabeth Motschmann, a lawmaker for the CDU, told CNBC's Squawk Box Europe on Tuesday that she supports Soeder. Pool | Getty Images News | Getty ImagesGermany's conservative party has seen its popularity fall since January, when the coronavirus pandemic began to worsen in the country.
Persons: Angela Merkel, JOHN MACDOUGALL, Armin Laschet, Merkel's, Markus Soeder, Angela Merkel's, Carsten Brzeski, Elisabeth Motschmann, CNBC's, Jens Suedekum, Soeder, Naz Masraff, hasn't, Masraff, Christian Schulz Organizations: AFP, Getty, Merkel's CDU, CSU, ING, CDU, Dusseldorf Institute, Competition Economics, CNBC, Christian Democratic Union, State Premier, Bavaria, Christian Social Union, Eurasia Group, Green, Greens, Social Democrats, Eurasia, Citi Locations: Berlin, Westphalia, Germany, Bavarian, ING Germany
UPDATE 1-German March inflation surpasses ECB target
  + stars: | 2021-03-30 | by ( Reuters Staff | ) www.reuters.com sentiment -0.99   time to read: +1 min
(Adds details, analyst)BERLIN, March 30 (Reuters) - Higher energy prices and supply chain disruptions pushed Germany’s annual consumer price inflation in March above the European Central Bank’s target of close to but below 2%, Federal Statistics Office data showed on Tuesday. Consumer prices, harmonised to make them comparable with inflation data from other European Union countries, rose by 2% from 1.6% in February. Non-harmonised consumer price inflation accelerated to 1.7% in March and a breakdown of the data showed that an almost 5% jump in energy prices was the main driver. The coronavirus pandemic and lockdowns to contain it have made many goods and services unavailable, which contributes to a distortion of consumer price data. “In our view, German headline inflation could eventually range between 3% and 4% in the second half of this year,” he added.
Persons: harmonised, , Carsten Brzeski, Joseph Nasr, Madeline Chambers Organizations: Federal Statistics Office, Union, ING, Locations: BERLIN, Suez
Germany state election results CNBCPaul Ziemiak, the CDU's general secretary, conceded that the results for the center-right were disappointing, stating, "to put it bluntly, this is not a good election evening for the CDU. We would have liked different and better results in the state elections in Baden-Wuerttemberg and Rhineland-Palatinate." The party's poor showing comes as it prepares for September's national election — with four other state elections before then — and the post-Merkel era. "The CDU party has built up this image, under Angela Merkel, of being indispensable, of being the natural governing party, and since last night (Sunday night) that image is fading away," he told CNBC's "Squawk Box Europe." This move was seen as boosting support for the right-wing Alternative for Germany party.
Persons: Angela Merkel, Michele Tantussi, Angela Merkel's, — Winfried, Malu Dreyer, Palatinate –, CNBC Paul Ziemiak, Arne Jungjohann, Heinrich Boell, CNBC's, Jungjohann, They've, Robert Habeck, Merkel, Armin Laschet, Markus Soeder, Markus Söder, Carsten Brzeski Organizations: Getty, Christian Democratic Union, CDU, Greens, Social Democrats, , SPD, CNBC, Green Academy of, environmentalist Greens, Green, Germany, Christian Social Union, ING, Bavarian Locations: Berlin, Germany, Baden, Rhineland, Palatinate, Wuerttemberg, Hesse, Bavarian, North Rhine, Westphalia
ECB stays put but warns about surge in infections
  + stars: | 2021-01-21 | by ( Balazs Koranyi | Francesco Canepa | ) www.reuters.com + 0.00   time to read: +4 min
FILE PHOTO: European Central Bank (ECB) President Christine Lagarde in Frankfurt, Germany, March 12, 2020. “The ECB remains happy at the sidelines and has kept all options open,” ING economist Carsten Brzeski said. She also reaffirmed a pledge that all of the ECB’s instruments remained in play and that the bank would adjust them as needed. Stocks are rising, interest rates are steady and government borrowing costs are trending lower, despite some political drama in Italy. With Thursday’s decision, the ECB’s benchmark deposit rate remained at minus 0.5% while the overall quota for bond purchases under PEPP was maintained at 1.85 trillion euros.
Persons: Christine Lagarde, Kai Pfaffenbach, ” Lagarde, Lagarde, Carsten Brzeski, PEPP Organizations: European Central Bank, Central Bank, REUTERS, U.S, ECB, U.S ., ING, Locations: FRANKFURT, Frankfurt, Germany, Italy
Brzeski, however, noted the central bank’s projection in December of 0.6% GDP growth quarter-on-quarter in the first quarter “is a tad optimistic.”Euro zone stocks came off session highs to close 0.1% lower with the euro strengthening against the dollar, while euro zone banks slid 0.6%. Shares in wind turbine maker Vestas, renewable energy group Siemens Gamesa and offshore wind group Orsted rose between 1.4% and 3.9%. Tech stocks jumped 1.6% as their U.S. peers rallied, while British software maker Sage Group jumped 4.9% after posting higher quarterly recurring revenue. Swiss online pharmacy chain Zur Rose Group AG climbed 8.9% after it posted full-year revenue above analysts’ expectations. Britain’s IG tumbled almost 9% after it announced plans to buy U.S. trading platform tastytrade for $1 billion.
Persons: Ralph Orlowski, Christine Lagarde, Lagarde, ” Carsten Brzeski, Brzeski, Joe Biden, Spain’s Bankinter, IG Organizations: Reuters, European Central Bank, Deutsche, REUTERS, Energy, BP, Royal, Shell, ECB, ING, Paris Agreement, Siemens, Klepierre, Tech, Sage, Zur Rose Locations: Frankfurt, Germany, U.S, Paris, Westfield, British, Swiss
REUTERS/Aly Song/File PhotoThe upbeat mood came after Wall Street hit record highs on Thursday while bond prices fell as markets bet a new Democratic-controlled government would lead to heavy spending and borrowing to support the U.S. economic recovery. The buoyant mood lifted MSCI’s broadest index of Asia-Pacific shares outside Japan up 1%, touching a record high. Seoul’s Kospi led the way, charging 2.8% higher, also to a record high. The dollar also strengthened on hopes of a meaningful economic recovery later this year. “We’re sure to see a synchronised global recovery in the second half of this year,” said ING analyst Carsten Brzeski.
Persons: Aly, , James Tao, “ You’ve, Seoul’s Kospi, Hong, Trump, Joe Biden, Donald Trump, , Carsten Brzeski, Brent Organizations: SHANGHAI, Japan’s Nikkei, REUTERS, Wall, Democratic, CommSec, Nikkei, FTSE Russell, Dow Jones, Nasdaq, Washington DC, Trump, U.S . Capitol, Saudi, West . U.S . West Texas Locations: United States, Shanghai, China, Sydney, Asia, Pacific, Japan, Tokyo, Queensland, Brisbane, Washington, West . U.S
U.S. S&P 500 e-mini stock futures also pointed to a cheery open on Friday, rising 0.51% to 3,815. The buoyant mood lifted MSCI’s broadest index of Asia-Pacific shares outside Japan up 1.56%, touching a record high. The dollar-denominated Nikkei share average rose above its 1989 peak to a record high. Chinese blue-chip shares pulled back 0.7% as investors booked profits after the index finished at a 13-year high a day earlier. “We’re sure to see a synchronised global recovery in the second half of this year,” said ING analyst Carsten Brzeski.
Persons: Aly, DAX, , James Tao, “ You’ve, Seoul’s Kospi, Trump, Joe Biden, Donald Trump, , Carsten Brzeski, Cryptocurrency bitcoin, Brent Organizations: SHANGHAI, Nikkei, REUTERS, Wall, Democratic, CommSec, FTSE Russell, Dow Jones, Nasdaq, Trump, U.S . Capitol, Saudi, . West Texas Locations: United States, Shanghai, China, Asia, Sydney, Pacific, Japan, Tokyo, Washington , DC
Shares soar to record highs on global recovery hopes
  + stars: | 2021-01-08 | by ( Tom Arnold | Andrew Galbraith | ) www.reuters.com + 0.00   time to read: +5 min
REUTERS/Aly Song/File PhotoEurope’s Euro STOXX 600 opened up 0.7%, with Frankfurt’s index up 0.8% after German industrial output and exports rose in November. Investors were also awaiting U.S. non-farm payrolls data due later in the day to gauge the jobs market’s health. The dollar-denominated Nikkei share average rose above its 1989 peak to a record high. On Thursday, the Dow Jones Industrial Average rose 0.69%, the S&P 500 gained 1.48% and the Nasdaq Composite added 2.56% - with all three indexes finishing at record closing highs. “We’re sure to see a synchronised global recovery in the second half of this year,” said ING analyst Carsten Brzeski.
Persons: Treasuries, Aly, Trump, , Francois Savary, Kospi, Russell, Hong, Joe Biden, Donald Trump, Carsten Brzeski, Cryptocurrency bitcoin, Brent Organizations: Global, Japan’s Nikkei, U.S, REUTERS, Wall, Democratic, Biden, Partners, , Nikkei, Dow Jones, Nasdaq, Trump, U.S . Capitol, Saudi, . West Texas, U.S . Locations: SHANGHAI, United States, Shanghai, China, Swiss, Asia, South, U.S, Hong Kong, Washington , DC
REUTERS/Issei KatoFutures for the S&P 500 jumped 1.48% and Japan’s Nikkei 225 rose 0.84%, hitting its highest level since August 1990. The broadly upbeat mood came after Wall Street hit record highs on Thursday while bond prices fell as markets bet a new Democrat-controlled government would lead to heavy spending and borrowing to support the U.S. economic recovery. “We’re sure to see a synchronised global recovery in the second half of this year,” said ING analyst Carsten Brzeski. The dollar also strengthened on hopes of a meaningful economic recovery later this year. Spot gold fell 0.3% to $1,913.87 per ounce but U.S. gold futures inched 0.3% higher to settle at $1,913.60.
Persons: Issei Kato, , Carsten Brzeski, Australia’s, Trump, Donald Trump, Joe Biden’s, Bitcoin, Brent Organizations: YORK, Japan, REUTERS, Nikkei, Wall, U.S, U.S . Capitol, Dow Jones, Nasdaq, Saudi, West . U.S . West Texas Locations: United States, Tokyo, Japan, Queensland, U.S, West . U.S
Shares soar on hopes of global recovery, U.S. stimulus
  + stars: | 2021-01-08 | by ( Tom Arnold | Andrew Galbraith | ) www.reuters.com + 0.00   time to read: +5 min
Europe’s Euro STOXX 600 was up 0.6%, with Frankfurt’s index up 0.8% after German industrial output and exports rose in November. Investors were also awaiting U.S. non-farm payrolls data due later in the day to gauge the jobs market’s health. MSCI’s main emerging market index closed in on a record high for the first time since 2007. The dollar-denominated Nikkei share average rose above its 1989 peak to a record high. “We’re sure to see a synchronised global recovery in the second half of this year,” said ING analyst Carsten Brzeski.
Persons: Treasuries, Trump, , Francois Savary, Kospi, Russell, Hong, Joe Biden, Donald Trump, Carsten Brzeski, Cryptocurrency bitcoin, Brent Organizations: Global, Japan’s Nikkei, U.S, Democratic, Biden, Partners, , REUTERS, MSCI’s, Nikkei, Dow Jones, Nasdaq, Trump, U.S . Capitol, Saudi, . West Texas, U.S . Locations: SHANGHAI, United States, Swiss, Frankfurt, Germany, Asia, South, U.S, Hong Kong, Washington , DC, Europe
Buoyant German retail sales, jobs data belie broader COVID gloom
  + stars: | 2021-01-05 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +2 min
BERLIN (Reuters) - German retail sales rose in November and jobless numbers fell last month, against forecasts that both readings would worsen, suggesting parts of Europe’s largest economy have weathered the impact of the coronavirus unexpectedly well. Retail sales rose 1.9% in November, when markets had anticipated a contraction, the Federal Statistics Office said on Tuesday, adding that it expected sales to have grown around 4% during 2020 as a whole - exceeding 2019’s 3.2% expansion. The Statistics Office said its provisional full-year retail sales growth figure - contrasting with an expected drop of 5.5% in gross domestic product, according to Bundesbank data - included December’s full lockdown. November’s biggest winners were in online and delivery retail, where revenues rose 31.8% compared to November 2019, while spending on household decorations, appliances and building materials rose 15.4%. Clothing sales fell 20% and mixed retail - a category including department stores - was down 6.1%.
Persons: Carsten Brzeski Organizations: BERLIN, Federal Statistics Office, Federal Labour Agency, Analysts, ING, Statistics Office Locations: Europe’s, Germany
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