Encouraging data are released this morning showing that the economy has recovered to pre-pandemic levels in November.
GDP grew 0.9 percent this month, meaning it is now 0.7 percent above the top ahead of covid. The growth was mainly due to the activities of the service sector.
However, ONS data cover the period before the omicron version spread across the country, suggesting that growth may have slowed before the end of the year.
5 things to start the day
1) Google buys headquarters in London with a $ 1 billion trust vote in the office A previous attempt to buy the building failed during the pandemic
2) Spend more on renewables or electricity prices will continue to rise, the IEA warns The agency is calling for “structural change” to meet growing demand for power
3) U.S. stocks are sinking again as interest rates rise Investors have relieved the burden of stocks that are most sensitive to higher interest rates, such as growing loss-making companies.
4) Asos is moving to London’s main market after 20 years of Aim operation The proposed move by the online fashion retailer on the LSE will allow it to qualify for the FTSE 250
5) Investors are attacking the “confused” EU takeover rules that still apply to the city Despite Brexit, EU regulations are still burdening mergers, business titans say
What happened overnight
Asian stocks were hit on Friday after a new volley of hawkish remarks by Federal Reserve officials solidified expectations that U.S. interest rates could rise as early as March, leaving markets ready for tighter monetary conditions.
Stock markets turned bright red, with MSCI’s broadest Asia-Pacific equity index outside Japan falling 0.9 percent in mid-afternoon trading, while Australia lost 1.1 percent and Japan’s Nikkei 1.3 percent.
South Korean stocks fell 1.4 percent after the central bank raised its reference rate by 25 basis points to 1.25 percent on Friday, returning to where it was before. pandemic as it seeks to limit the rise in consumer prices.
China’s blue chip index fell 0.5 percent and Hong Kong’s Hang Seng index fell 0.9 percent.
He’s coming today
- Company: Currys, Experian (trading update)
- economy: GDP, production, production (United kingdom); industrial production (United Kingdom, USA); retail, Michigan Consumer Sentiment Index (USA)