Euro and bond yields wilted on Thursday as a slump in German business confidence...
LONDON - Euro and bond yields wilted on Thursday as a slump in German business confidence piled the pressure on the European Central Bank to push interest rates even deeper into sub-zero territory later.
New German data added to the call for ECB action as it showed business morale there had hit its lowest level since April 2013. “The German economy is navigating troubled waters,” Ifo President Clemens Fuest added, saying companies there were increasingly concerned about the outlook for their businesses.
The social media firm’s stock has now surged over 56% so far this year, despite warnings on future revenue growth from new data privacy rules and forthcoming privacy-focused product changes.Japan’s Nikkei touched a near three-month high though Australia stole the glory as it ended near a 12-year peak after its central bank chief had stressed interest rates could continue to fall.
Sterling was broadly flat too at $1.2475, after falling for several sessions as market participants feared the looming possibility of a no-deal Brexit under Britain’s new prime minister, Boris Johnson.
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