Europe

Optimism over China, peak bond yields draw flows into stocks -BofA

Reuters | January 27, 2023

(Reuters) -Weekly inflows into stocks in the week to Wednesday were the largest in six weeks, data from BofA Global Research showed, as China’s reopening of its borders and expectations that bond yields have peaked fed investor risk appetite. Investors poured $13.9 billion into stocks with $3.4 billion flowing into European shares – the largest […]

Oil falls $2/barrel on economic jitters, U.S. crude stock build

Reuters | January 24, 2023

By Arathy Somasekhar HOUSTON (Reuters) – Crude oil prices slipped on Tuesday on concerns about a global economic slowdown and as preliminary data indicated a bigger than expected build in U.S. oil inventories. Brent futures for March delivery fell $2.06, or 2.3%, to $86.13 a barrel. U.S. crude fell $1.49, or 1.8%, to $80.13 per […]

IKEA sees higher demand in Europe driven by home furnishings – CEO

Reuters | January 20, 2023

By Divya Chowdhury and Savio Shetty DAVOS, Switzerland (Reuters) – Ingka Group, the owner of most IKEA stores, sees demand in Europe to continue rising in the current fiscal year, driven by strong demand for home furnishings that has outlasted coronavirus lockdowns, the company’s CEO said. “We are right now optimistic that this would be […]

Davos 2023: Convert offices to homes to curb housing crisis-panel

Reuters | January 18, 2023

LONDON (Reuters) – Empty offices globally should be converted to apartments to address a growing housing crisis in many countries, property executives told the World Economic Forum in Davos on Wednesday. Commercial real estate values are sliding as an economic downturn reduces demand for space among cost-conscious companies, whose employees have been spending fewer days […]

Tesco boss says inflation may not have peaked ‘just yet’

Reuters | January 12, 2023

LONDON (Reuters) -The chief executive of British retailer Tesco, Ken Murphy, said on Thursday that inflation may have not peaked “just yet,” adding that he hoped it would come down by the middle of this year. “We’re not sure it’s peaked just yet,” Murphy said in response to a question on inflation. “We would hope […]

With a sale of Chinese yuan, Russia kicks off 2023 forex intervention

Reuters | January 11, 2023

By Guy Faulconbridge and Darya Korsunskaya MOSCOW (Reuters) -Russia said it would resume foreign currency interventions with the sale of yuan from Friday, underscoring the growing importance of China’s currency in Moscow’s efforts to ensure economic stability amid Western sanctions. After the West imposed the most severe sanctions in modern history over the war in […]

Global stocks close in on 4-week highs, oil rises on hopes of ‘soft landing’

Reuters | January 9, 2023

By David Randall NEW YORK (Reuters) -World stocks rallied on Monday to their highest levels since mid-December after China reopened its borders while benchmark Treasury yields drifted lower as investors scaled back expectations for further rate hikes by the Federal Reserve. The gains were broad across global equity markets, with Europe’s STOXX 600 near a […]

Global equity funds post outflows for ninth week in a row

Reuters | January 6, 2023

(Reuters) – Global equity funds witnessed net outflows for a ninth straight week in the seven days to Jan. 4 as investors remained cautious ahead of the release of the Federal Reserve’s latest meeting minutes. According to Refinitiv Lipper data, global equity funds recorded a net $15.42 billion worth of withdrawals, compared with just $791 […]

Dollar jumps, U.S. stocks buck global rally

Reuters | January 3, 2023

By Amanda Cooper and Koh Gui Qing LONDON/NEW YORK (Reuters) -The dollar jumped on Tuesday as oil prices sank, while U.S. stocks bucked a global equities rally in a macro-packed week that could offer a steer on when and where U.S. interest rates might peak. The MSCI All-World index fell 0.2%, dragged by losses in […]

Russia’s Yandex co-founder Volozh pens farewell message to staff

Reuters | December 30, 2022

By Alexander Marrow MOSCOW (Reuters) -The co-founder of Russian internet giant Yandex, Arkady Volozh, said goodbye in an internal message to staff on Friday ahead of a corporate restructuring that could see ownership of many of the firm’s core services change hands. Volozh stepped down as CEO and left the board of directors after the […]

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