Rolling coverage of the latest economic and financial news
- Latest: Bank of England on ‘stablecoin’ regulation
- UK House price growth fastest since 2014
- Wales sees largest increase in house prices
- Halifax: Prices could keep rising after stamp duty holiday ends
Earlier:
- Introduction: China’s export growth slowed in May
- Experts blame chip shortage and Covid-19 outbreaks
- Imports surge, partly due to rising commodity prices
- German factory orders dipped in April
European stock markets have closed at a fresh record high tonight.
The Stoxx 600 gained 0.2% to close at 453.56 points, as optimism for Europe’s recovery from the pandemic continues to support shares.
Back on Wall Street, tech firms continue to shrug off the G7 tax deal. Amazon are just 0.4% lower, while Facebook has gained 1.5%.
Analysts are pointing out that the deal doesn’t have global agreement yet, so could be diluted to get low-tax states onside [plus, a minimum corporation tax rate of 15% isn’t desperately aggressive].
“The details of the implementation are still to be ironed out and potentially further watered down.”