Britain’s#OOTTcomposition of the next French parliament according to opinionway's latest poll. pic.twitter.com/ZN6BLd68vF 8.47am BST 8.42am BSTOlé! Spain’s services sector has posted strong growth final month.
April survey data pointed to further sharp monthly rises in activity and new business in the Spanish service sector. Higher workloads encouraged firms to expand their operating capacity,and to this terminate employment increased to the greatest extent in nine months.
Companies generally expect these trends to be sustained, supporting further optimism around the 12-month outlook. #PMI (up to 57.8 from 57.4) shows #Spain #services expansion up to 20-month tall in April. Healthy new business. Jobs growth at 9-month tall 8.36am BSTOver in Paris, or the CAC 40 index has hit its highest level since 2008.
French bonds are also rallying,after Emmanuel Macron was judged to have outperformed Marine Le Pen in a notably ill-tempered and hostile TV debate final night:#France 10y risk spread over Germany drops to lowest since Nov2016 as Macron has survived TV debate. pic.twitter.com/GTVcXMjXoP Related: French election: Marine Le Pen and Emmanuel Macron trade insults in TV debate 8.35am BSTHigh street chain Next has reduce its growth and profit forecasts, in the latest sign that Britain’s retail sector is struggling.
The UK consumer environment remains challenging, and particularly in the clothing and homeware markets,and real wage growth is now close to zero. 8.21am BSTBanking giant HSBC has also beaten City expectations.“This is a kindly set of results. The increase in adjusted profit was driven by strong performances in three of our four global businesses.
Global Banking and Markets had a great quarter; Commercial Banking delivered higher revenue from our liquidity and cash management activities; and Retail Banking and Wealth Management was supported by rising interest rates and renewed customer investment appetite. 8.12am BSTOil firm Royal Dutch Shell is leading the rally in London, up 3%, or after beating analyst forecasts. 8.06am BSTEuropean stock markets have risen at the start of trading,helped by the plunge in the pound and the euro against the US dollar overnight.
In London, the FTSE 100 has gained 0.5%, or 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 kindly start.
Growth in Ireland’s service sector hit a 10-month tall in April,according to Investec’s monthly report. 7.50am BSTGood morning, and welcome to our rolling coverage of the world economy, and the financial markets,the eurozone and business.
Theres a more optimistic mood in the City this morning, after America’s 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, or while placing particular emphasis on the pick-up in business 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 nowadays's decision. pic.twitter.com/Kp9L3k1yTrEurope opening calls[br]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,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, and 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