European stocks held near a 14-month high, following better-than-expected Chinese economic data, while Sterling rose after wage growth numbers also exceeded forecasts and supported expectations for a further Bank of England rate rise. | Reuters
China’s economy grew 4.5 percent year-on-year for the first quarter, eclipsing the expectations of most economists, data released on Tuesday showed.
Separate data on Chinese activity, also released on Tuesday, showed factory output speeding up but missing expectations while fixed asset investment growth unexpectedly slowed.“The headline number is a positive surprise and overall it’s a good set of numbers, albeit uneven, and that is reflected in the markets’ response,” said David Chao, global market strategist for Asia Pacific at Invesco.
That sent the pound higher and it was last up 0.52 percent against the dollar at $1.2442 heading back towards last week’s 10-month high, and also a touch stronger versus the euro. She said that had pushed the pound higher and “it brings home the risks that the Bank of England could go not once but twice”.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Czech Republic’s Petr Fiala: ‘First’ European PM to visit PH under MarcosCzech Republic Prime Minister Petr Fiala took pride in being the first European prime minister to visit the Philippines under the administration of President Ferdinand “Bongbong” Marcos Jr. ManilaBulletin
Read more »
Swedish Radio becomes first big European broadcaster to quit TwitterSwedish Radio says its decision had been made because Twitter had lost relevance for a Swedish audience.
Read more »
Putin met Chinese defense minister in Moscow —TassRussian President Vladimir Putin held a working meeting with Chinese Defense Minister Li Shangfu in Moscow on Sunday, Tass news agency cited Kremlin spokesman Dmitry Peskov as saying.
Read more »
Putin meets Chinese defence minister, both sides hail military cooperationRussian President Vladimir Putin met Chinese Defense Minister Li Shangfu in Moscow on Sunday and both men hailed military cooperation between the two nations, which have declared a “no limits” partnership. | Reuters
Read more »
Chinese Embassy: Huang’s remarks on Taiwan OFWs taken ‘out of context’MANILA, Philippines — The Chinese Embassy on Sunday said its ambassador’s remarks advising the Philippines against supporting Taiwan were taken “out of context.” On Friday Ambassador
Read more »
Chinese ambassador’s remark about OFWs ‘misinterpreted,’ says embassyChina&39;s embassy in the Philippines on Sunday said that its ambassador Huang Xilian&39;s remarks about overseas Filipino workers (OFWs) in Taiwan were misquoted, misunderstood, or taken out of context.
Read more »