Stock market correction of 5%-10% ‘likely before year end’; US inflation expectations rise – as it happened
Rolling coverage of the latest economic and financial news
- Latest: Beware FAKE Walmart press release on litecoin
- Deutsche Bank survey finds many investors expect correction soon
- Virus fears and inflation top list of concerns
- But most investors still expect markets to be higher in a year
- FT: Beijing to break up Ant’s Alipay
- China “wants to end big tech’s control of data”
- Primark hit by pingdemic sales drop
- Growth and inflation worries weigh on markets
Time to wrap up….
Here’s today’s main stories:
European stock markets have shrugged off growth fears and talk of a stock market pullback, to end the day higher.
In London, the FTSE 100 gained 39 points or 0.55% to end at 7068 points. Royal Mail (+3%), Lloyds Banking Group (+2.8%), and hedge fund management group Pershing Square (+2.6%) led the risers.
Spain’s Ibex up 1.3%. German Dax up 0.6%
The major European indices are ending the day with gains across the board:
German DAX, +0.56%
France’s CAC, +0.2%
UK’s FTSE 100, +0.55%
Spain’s Ibex, +1.3%
Italy’s FTSE MIB, +0.9%
In other markets as European/London traders look to exit: