European markets open to close: Oil, stocks, interest rates
46 Mins Ago
UK retail sales flat in March
People buying vegatables from a fruit and veg stall at Stroud Farmers Market on 30th March 2024 in Stroud, United Kingdom.
Mike Kemp | In Pictures | Getty Images
U.K. retail sales growth stalled in March, figures published by the Office for National Statistics showed Friday.
Sales volumes were flat month-on-month, following 0.1% growth in February. Volumes in food stores fell 0.7% while non-store retail sales, which includes online shops, stalls and markets, declined 1.5%.
Alex Kerr, assistant economist at Capital Economics, said that although the monthly reading was worse than forecast, sales volumes still rose by 1.9% quarter-on-quarter over the first three months of the year, “bringing the retail recession to an end.”
“As inflation falls, we still think rising real household incomes will support retail activity throughout 2024,” Kerr added.
— Jenni Reid
2 Hours Ago
Europe stocks open lower
European stock markets opened in the red on Friday, with the Stoxx 600 index down by 0.8% at 8:30 a.m. in London.
Major bourses were lower, with Germany’s DAX down 1.1%, France’s CAC 40 down 0.86% and the U.K.’s FTSE 100 down 0.6%.
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Stoxx 600 index.
7 Hours Ago
Safe haven assets rise after unconfirmed reports of explosions in Iran; gold hits fresh record
Safe haven assets rose following reports of unconfirmed explosions in Iran, with the country’s Fars news agency reportedly saying that explosions were heard near the airport at the country’s central Isfahan city, but the reason was unknown.
Spot gold prices surged to a fresh all-time high of 2,411.09 per ounce, while the yen strengthened 0.45% to 153.93 against the U.S. dollar.
Prices of bitcoin fell 1.44% to $60,186, according to Coin Metrics data.
— Lim Hui Jie
7 Hours Ago
Oil prices up 3% after reports of explosions in Iran
Oil prices jumped more than 3% after unconfirmed reports of explosions near the Iranian city of Isfahan.
Iran’s Fars news agency reported that explosions were heard near the Isfahan airport, but emphasized that the reason was unknown.
Global benchmark Brent traded 2.86% higher at $89.60 a barrel, while the U.S. West Texas Intermediate rose 2.83% to $85.05 per barrel.
—Lee Ying Shan
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ECB should cut interest rates in June, policymaker says
The European Central Bank should cut interest rates in June to avoid falling behind the inflation curve, according to policymaker François Villeroy de Galhau.
“The question is the next Governing Council which will be early June … and here barring a major surprise we should cut rates because we are now confident enough and increasingly confident about the disinflationary path in the euro area,” Bank of France Governor Villeroy told CNBC’s Karen Tso on Thursday.
— Sam Meredith
