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European markets rise after a choppy start to the week

European markets rise after a choppy start to the week

Bank of England right to halt rate hikes as pound tumbles, says chief investment officer The UK central bank is unlikely to rush to raise interest rates, according to Julian Howard, chief investment officer of multi-asset solutions at GAM Investments, despite the pound falling. “I don’t think it’s the Bank of England’s job to support …

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European markets choppy;  the pound falls against the dollar

European markets choppy; the pound falls against the dollar

Stocks on the Move: Homebuilders Suffer UK homebuilding and property development stocks were the biggest decliners shortly before the close. Vistry Group and Bellway were both down around 7%, while Taylor Wimpey and Persimmon were down around 6% at 4.15pm in London. It comes amid fears that the Bank of England could raise interest rates …

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European markets slide as investors digest further rate hikes

European markets slide as investors digest further rate hikes

Opening of the market: Fortum up 4%, Accor down 6% Shares of Fortum rose again in early trading on Thursday after the Finnish company agreed to sell its 56% stake in German utility Uniper to the German government. The public energy company transferred its stake in a nationalization agreement. French hotel company Accor saw its …

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European Central Bank raises rates by 75 basis points to tackle soaring inflation

European markets close higher after ECB rate hike; Stoxx 600 up 0.5%

US stocks open lower U.S. stocks opened lower on Thursday as Wall Street braced for bigger rate hikes after the ECB’s hike. The Dow Jones Industrial Average fell 1% while the S&P 500 and Nasdaq were both down 0.8%. — Karen Gilchrist European Central Bank raises rates by 75 basis points to tackle soaring inflation …

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European Central Bank raises rates by 75 basis points to tackle soaring inflation

European Central Bank raises rates by 75 basis points to tackle soaring inflation

The European Central Bank on Thursday announced a 75 basis point hike in interest rates, taking its benchmark deposit rate to 0.75%. “This major step precipitates the transition from the very accommodative level of policy rates to levels that will ensure the rapid return of inflation to the ECB’s medium-term target of 2%,” he said …

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