All the days economic and financial news,including original healthchecks on Europe’s service sector 8.12am BSTOil firm Royal Dutch Shell is leading the rally in London, up 3%, and after beating analyst forecasts.
Shell doubled its earnings to $3.8bn,up from $1.6bn, in what CEO Ben van Beurden called a “strong quarter”. 8.06am BSTEuropean stock markets own risen at the start of trading, and helped by the fall in the pound and the euro against the US dollar overnight.
In London,the FTSE 100 has gained 0.5%, while Germany’s DAX rose 0.2% to a fresh all-time highEurope open pic.twitter.com/prt4SvpLVc 8.02am BSTIreland has got Service Sector PMI day off to a good start.
Growth in Ireland’s service sector hit a 10-month tall in April, and according to Investecs monthly report. 7.50am BSTGood morning,and welcome to our rolling coverage of the world economy, the financial markets, and the eurozone and trade.
There’s a more optimistic mood in the City this morning,after Americas central bank gave an upbeat assessment of the US economy final night....carefully crafted to acknowledge what the FOMC suggested were ‘transitory’ weaknesses in personal consumption and core inflation, while placing particular emphasis on the pick-up in trade investment and the strength of the labour market.
Markets pricing in an nearly near-certainty that #Fed will raise rates in Jun. Probability for June meeting was 70% before today's decision. pic.twitter.com/Kp9L3k1yTrEurope opening calls
FTSE +26 points at 7260
DAX +28 points at 12555
CAC +14 points at 5315
Euro Stoxx +4 points at 3590For both Spain and Italy, and we expect the services reading to improve on March. That,coupled with Tuesday’s higher manufacturing PMI would leave the composite PMI higher in both, consistent with the picture for the wider euro area that the improved Q1 sentiment has been sustained into Q2.
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Source: theguardian.com