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European stock markets rise as US-China standoff eases – business live

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Markets cheered by US assurances, despite weaker yuanGerman industrial slump raises recession fearsHalifax: UK House prices fall for second month 10.11am BST The pound is declining again today and is trading close to two-year lows versus the dollar and the euro. It is down 0.21% against the dollar at $1.2145, not far from the 31-month low of $1.2080 reached last week. Against the euro, sterling is 0.12% lower at €1.0855, not far from the 23-month low hit yesterday.The risk of a no-deal Brexit has increased markedly under Boris Johnson’s government. When he became prime minister a fortnight ago, he said he would take Britain out of the EU at the end of October “do or die”. Investors are also fretting about the possibility of a no-confidence vote in the new Conservative government after the summer recess, or an early general election.There are many key dates ahead for sterling, but the passing of 5 September without a successful of no confidence in the government will in our view be a further important step along the road of a no-deal Brexit on 31 October. 9.58am BST The mood in financial markets is still fragile. Oil prices have hit a fresh seven-month low as traders worried about the impact of the US-China trade war on the global economy.Brent crude, the global benchmark, fell nearly 2% to $58.57 a barrel earlier this morning and is now trading down 0.2% at $58.82 a barrel. Prices have tumbled more than 20% since hitting their 2019 peak in April.
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Source link : https://www.theguardian.com/business/blog/live/2019/aug/07/german-manufacturing-slump-house-prices-eurozone-growth-business-live

Author : Julia Kollewe

Publish date : 2019-08-07 09:11:28

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