Stock markets rose and the dollar retreated Monday as investors turned their attention to US inflation data later this week and weigh the prospect of further monetary policy tightening.
Data due Wednesday are expected to show inflation in the world's biggest economy slowed slightly in July, but remained close to the four-decade highs seen in recent months. A blockbuster US jobs report last week"highlighted how strong the economy remains although traders are now increasingly nervous about more aggressive tightening sending the economy into a deeper recession further down the road", said OANDA analyst Craig Erlam.
The group produces paper and plastic packaging used in fruit production and fast-moving consumer goods . Its business also includes recycling. Despite a strong performance, the group experienced challenges during the six months, including problems at local ports, bad weather and ongoing global supply chain constraints. The company has increased its raw material stocks to cushion it against delays and uncertainty.
Datatec says the acquisition adds"complementary capabilities" to Logicalis UK&I's core expertise in digital infrastructure, networking and cloud services. Asian markets struggled Monday and the dollar held big gains as a blockbuster US jobs report ramped up bets that the Federal Reserve will announce more sharp interest rate hikes as it tries to tame runaway inflation.
"Hence at minimum, the markets expect another 100 basis points of Fed funds rate increases over the next three meetings... with risks skewed towards significant increases." However, there was some relief that tensions had calmed since Nancy Pelosi's visit to Taiwan last week sparked a furious reaction from China that saw it conduct days of live-fire military drills around the island.Tokyo edged up and Shanghai was flat, with better-than-expected Chinese trade data offset by fresh worries about Covid lockdowns in the country that threaten the economic recovery.
Both main contracts have lost all the gains seen in the wake of Vladimir Putin's invasion of Ukraine, which led the United States and Europe to ban imports of Russian crude, hammering already thin supplies.Raubex chair Freddie Kenney has resigned, the infrastructure development firm has announced.
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Fin24 - 🏆 21. / 63 Read more »