Rolling coverage of the latest economic and financial news
- Latest: Supply chain problems to hit Germany’s recovery
- CO2 prices to jump, government warns
- Full story: Bailout of US CO2 supplier will cost UK taxpayers ‘millions’
- Evergrande strikes deal over one bond interest payment due on Thursday
- But property giant also faces overseas bond payment
- Evergrande shares soar over 20% in Frankfurt
- FTSE 100 jumps 1%
- Fed meeting today – could there be tapering hints?
Supply chain disruption is also causing economic pain in Europe’s largest economy.
Germany’s IFO economic institute has slashed its growth forecast for Germany this morning, warning that bottlenecks caused by the pandemic are hurting growth.
“Industrial production is currently shrinking as a result of supply bottlenecks for important intermediate goods. At the same time, service providers are recovering strongly from the coronavirus crisis,”
European stock markets have now recovered Monday’s losses, when a global market wobble caused their biggest daily fall in two months….
Investors are buying into the Eurozone #equities dip. The Stoxx 600 Index is back to the closing level of last Friday, before the 2.5% sell-off on Monday. Uncomfortable as it feels… pic.twitter.com/EZfizeWlEU
#China moves! Injects roughly USD 19 billion in #liquidity, #Evergrande says its onshore property unit will make an interest payment for its 5.8% 2025 bond tomorrow. ht @C_Barraud pic.twitter.com/5rkWjxmh6R