Euro area inflation unexpectedly slowed down in August. This can raise concern for ECB leaders that are getting ready to ease stimulus despite of growing economic risks, Bloomberg reports.
Shares of European autoproducers fell after US President Donald Trump denied EU's proposal in regards to elimination of tariffs on import of cars and reminded about his threat to exit WTO, which may reshape global trade as a whole, Bloomberg reports.
According to Bloomberg, European shares fell, while US equity futures will open slightly lower after President Trump resumed talks about future trade with partners. All-country World Index MSCI lost 0,2%.
Prices of houses in the UK fell in August the most in six years after Bank of England raised interest rates, Bloomberg reports with the reference to Nationwide Building Society.
Prices fell by 0,5% in August. Price growth slowed down to 2% from 2,5% in July compared with last year.
Coca Cola agreed to buy second largest coffee chain in the world Costa from British company Whitbread Plc for $5,1 billion, Reuters reports.
Coca Cola will take over about 4000 outlets in the UK, Europe and China.
Unemployment rate in Germany has been falling for five years indicating that companies in the largest economy of Europe are confident about their future despite of risks, Bloomberg reports.
Number of people withoutt job fell in August by 8000 to 2,33 million. Unemloyment rate as a result is 5,2%.
The largest luggage producer in the world, Samsonite International SA, notes that trade war between the US and China influenced sentiments among Chinese consumers and will result in slower sales growth in the second largest market, Bloomberg reports.
According to Bloomberg, US equity futures and European shares followed in their decline after Asian stocks, as trade and geopolitical issues suppress mood on the markets.
Dollar is growing and gold is falling. Bloomberg Dollar Spot Index gained 0,2%. Price of gold declined by 0,3% to $1202,57 per ounce.
Annual conference of US soy exporters finished on Wednesday without any significant sales to Chinese buyers, unlike previous meetings where billions-contracts were made, Reuters reports.
August historically is a difficult month for emerging markets, Bloomberg writes. However, one measure allows considering this August as a record bad. Bloomberg currency index that tracks trade returns on eight emerging markets fell since the end of July by 6%. This is the biggest August drop since 1999.
Essential spending are now taking large part of Britons’ monthly pay, Bloomberg reports. According to the survey of Nationwide Building Society, 41% of citizens have less that 6,60 pounds on hands for daily expenditures after paying all bills. Mortgage, groceries and fuel spending grew 6% in past year and now account for 80% of average salary in the UK.
Swedish currency is trading at levels not seen since financial crisis, while country is getting ready to election that can dramatically change its political landscape, Bloomberg reports.
