Latest news with #RonaldTemple
Yahoo
5 days ago
- Business
- Yahoo
FTSE 100 LIVE: Stocks rise as traders await ECB interest rate decision
The FTSE 100 (^FTSE) and European stocks rose on Thursday as traders awaited the latest decision on interest rates from the European Central Bank (ECB). Interest rates across the eurozone are likely to be cut by 0.25% again today, as the bank attempts to support the euro economy after the turmoil caused by US president Donald Trump's trade wars. It will be the eighth cut in a year. It comes after eurozone inflation dropped to 1.9% last month, falling below the ECB's 2% target for the first time since last September. Markets are pricing almost a 100% probability of a quarter-point cut, according to Ronald Temple, chief market strategist at Lazard Asset Management. He said: "With ongoing declines in inflation and consistently dovish language from ECB members, a rate cut appears to be a done deal. The ECB has previously described 1.75%–2.25% as the range that would be considered neutral monetary policy. Any signals of a change in this view would be surprising. "I continue to expect rates to be reduced to 1.5% by year end given a more aggressive US trade posture against the European Union. Markets suggest a slightly less dovish outlook with rates ending the year just below 1.6%.' Investors will also focus on the ECB's latest forecasts at the scheduled press conference this afternoon. London's benchmark index (^FTSE) was hovering near the flatline in early trade. Germany's DAX (^GDAXI) rose just 0.2% and the CAC (^FCHI) in Paris also headed 0.2% into the green. The pan-European STOXX 600 (^STOXX) was up 0.2%. Wall Street is set for a positive start as S&P 500 futures (ES=F), Dow futures (YM=F) and Nasdaq futures (NQ=F) were all in the green. The pound was 0.1% up against the US dollar (GBPUSD=X) at 1.3564. Follow along for live updates throughout the day: At 1.45pm UK time the ECB press conference will start, investors will be looking for any news around the bank's latest forecasts, with economists expecting cuts to its growth and inflation projections for next year. Other topics that may come up include: The ECB signalling that it could pause its rate cutting cycle over the summer (before reassessing in September). More on Christine Lagarde's claim that the euro could take on a more global role as the dollar loses influence Lagarde's future after reports she might be cutting short her term short as she looks to become chair of the World Economic Forum. Scammers stole £47m from the online accounts of 100,000 people after posing as taxpayers, HMRC has revealed. The BBC has the details... The tax authority said it is writing to those affected to confirm it has secured their accounts, they haven't lost any money, and they don't need to do anything. "These are attempts to claim money fraudulently from HMRC, not from customers," HMRC said. There has already been a criminal investigation with arrests made last year, HMRC confirmed. It said the scammers used phishing attacks to gain customer details and attempted to claim rebates. Phishing is when criminals use personal information gathered externally to imitate a person and access services. The tax authority said this was not a cyber or hacking attack, the likes of which have affected major retailers in recent weeks. Angela MacDonald, HMRC's deputy chief executive, told MPs at an Treasury Select Committee on Wednesday that a "lot of money" was taken and "it's very unacceptable". HMRC's permanent secretary and chief executive John-Paul Marks told the committee "a lot of work [was] then done to intercept this incident. We identified and locked down the compromised accounts." Traders are awaiting the latest decision on interest rates from the European Central Bank (ECB) this afternoon. Interest rates across the eurozone are likely to be cut by 0.25%, as the bank attempts to support the euro economy after the turmoil caused by US president Donald Trump's trade wars. It will be the eighth cut in a year. It comes after eurozone inflation dropped to 1.9% last month, falling below the ECB's 2% target for the first time since last September. Markets are pricing almost a 100% probability of a quarter-point cut. Ronald Temple, chief market strategist at Lazard Asset Management, said: Investors will also focus on the ECB's latest forecasts at the scheduled press conference this afternoon. Stocks in Asia were mixed overnight with the Nikkei (^N225) down 0.5% on the day in Japan, which follows a weak auction of 30-year debt, where there was the weakest demand since 2023. The Hang Seng (^HSI) saw its third consecutive advance, up 0.9% in Hong Kong, and the Shanghai Composite ( was 0.2% higher by the end of the session. South Korea's KOSPI (^KS11) climbed 1.5% during the session, building on Wednesday's 2.7% gain, with the index currently on track to close at its highest level since mid-July. Across the pond on Wall Street, the S&P 500 (^GSPC) eked out a 0.01% gain, narrowly reaching a three-month high, and the tech-heavy Nasdaq (^IXIC) was 0.3% higher. Meanwhile, the Dow Jones (^DJI) lost 0.2% by the closing bell after a weak batch of US data led to a rally for US Treasuries, which in turn supported risk assets. Investors became a lot more confident that the Fed would still cut rates this year, and the 10-year Treasury yield fell 10.0bps on the day to 4.36%. Good morning, and welcome back to our markets live blog. As usual we will be taking a deep dive into what's moving markets today, as well as all that's happening across the global economy. The main highlight of the day will be the European Central Bank's (ECB) latest policy decision and president ChrisLagarde's subsequent press conference. Otherwise, we'll hear from the Fed's Kugler, Harker and Schmid, Bank of England (BoE) deputy governor Breeden, and the BoE's Greene. Data releases from the US include the weekly initial jobless claims and the April trade balance. Meanwhile in Europe, there's German factory orders for April, and the May construction PMIs for Germany and the UK. Here's a quick snapshot of what's on the agenda for today: 7am: Trading updates: Mitie (MTO.L), Wizz Air (WIZZ.L), Workspace (WKP.L), Dr Martens (DOCS.L), Young's & Co Brewery (YNGN.L) 7am: German factory orders for April 9am: UK new car sales report for May 9.30am: UK construction PMI report 1.15pm: European Central Bank interest rate decision 1.30pm: US trade data for April 1.30pm: US weekly jobless claims data 1.45pm: European Central Bank press conferenceAt 1.45pm UK time the ECB press conference will start, investors will be looking for any news around the bank's latest forecasts, with economists expecting cuts to its growth and inflation projections for next year. Other topics that may come up include: The ECB signalling that it could pause its rate cutting cycle over the summer (before reassessing in September). More on Christine Lagarde's claim that the euro could take on a more global role as the dollar loses influence Lagarde's future after reports she might be cutting short her term short as she looks to become chair of the World Economic Forum. Scammers stole £47m from the online accounts of 100,000 people after posing as taxpayers, HMRC has revealed. The BBC has the details... The tax authority said it is writing to those affected to confirm it has secured their accounts, they haven't lost any money, and they don't need to do anything. "These are attempts to claim money fraudulently from HMRC, not from customers," HMRC said. There has already been a criminal investigation with arrests made last year, HMRC confirmed. It said the scammers used phishing attacks to gain customer details and attempted to claim rebates. Phishing is when criminals use personal information gathered externally to imitate a person and access services. The tax authority said this was not a cyber or hacking attack, the likes of which have affected major retailers in recent weeks. Angela MacDonald, HMRC's deputy chief executive, told MPs at an Treasury Select Committee on Wednesday that a "lot of money" was taken and "it's very unacceptable". HMRC's permanent secretary and chief executive John-Paul Marks told the committee "a lot of work [was] then done to intercept this incident. We identified and locked down the compromised accounts." Traders are awaiting the latest decision on interest rates from the European Central Bank (ECB) this afternoon. Interest rates across the eurozone are likely to be cut by 0.25%, as the bank attempts to support the euro economy after the turmoil caused by US president Donald Trump's trade wars. It will be the eighth cut in a year. It comes after eurozone inflation dropped to 1.9% last month, falling below the ECB's 2% target for the first time since last September. Markets are pricing almost a 100% probability of a quarter-point cut. Ronald Temple, chief market strategist at Lazard Asset Management, said: Investors will also focus on the ECB's latest forecasts at the scheduled press conference this afternoon. Stocks in Asia were mixed overnight with the Nikkei (^N225) down 0.5% on the day in Japan, which follows a weak auction of 30-year debt, where there was the weakest demand since 2023. The Hang Seng (^HSI) saw its third consecutive advance, up 0.9% in Hong Kong, and the Shanghai Composite ( was 0.2% higher by the end of the session. South Korea's KOSPI (^KS11) climbed 1.5% during the session, building on Wednesday's 2.7% gain, with the index currently on track to close at its highest level since mid-July. Across the pond on Wall Street, the S&P 500 (^GSPC) eked out a 0.01% gain, narrowly reaching a three-month high, and the tech-heavy Nasdaq (^IXIC) was 0.3% higher. Meanwhile, the Dow Jones (^DJI) lost 0.2% by the closing bell after a weak batch of US data led to a rally for US Treasuries, which in turn supported risk assets. Investors became a lot more confident that the Fed would still cut rates this year, and the 10-year Treasury yield fell 10.0bps on the day to 4.36%. Good morning, and welcome back to our markets live blog. As usual we will be taking a deep dive into what's moving markets today, as well as all that's happening across the global economy. The main highlight of the day will be the European Central Bank's (ECB) latest policy decision and president ChrisLagarde's subsequent press conference. Otherwise, we'll hear from the Fed's Kugler, Harker and Schmid, Bank of England (BoE) deputy governor Breeden, and the BoE's Greene. Data releases from the US include the weekly initial jobless claims and the April trade balance. Meanwhile in Europe, there's German factory orders for April, and the May construction PMIs for Germany and the UK. Here's a quick snapshot of what's on the agenda for today: 7am: Trading updates: Mitie (MTO.L), Wizz Air (WIZZ.L), Workspace (WKP.L), Dr Martens (DOCS.L), Young's & Co Brewery (YNGN.L) 7am: German factory orders for April 9am: UK new car sales report for May 9.30am: UK construction PMI report 1.15pm: European Central Bank interest rate decision 1.30pm: US trade data for April 1.30pm: US weekly jobless claims data 1.45pm: European Central Bank press conference Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
5 days ago
- Business
- Yahoo
FTSE 100 LIVE: Stocks rise as traders await ECB interest rate decision
The FTSE 100 (^FTSE) and European stocks rose on Thursday as traders awaited the latest decision on interest rates from the European Central Bank (ECB). Interest rates across the eurozone are likely to be cut by 0.25% again today, as the bank attempts to support the euro economy after the turmoil caused by US president Donald Trump's trade wars. It will be the eighth cut in a year. It comes after eurozone inflation dropped to 1.9% last month, falling below the ECB's 2% target for the first time since last September. Markets are pricing almost a 100% probability of a quarter-point cut, according to Ronald Temple, chief market strategist at Lazard Asset Management. He said: "With ongoing declines in inflation and consistently dovish language from ECB members, a rate cut appears to be a done deal. The ECB has previously described 1.75%–2.25% as the range that would be considered neutral monetary policy. Any signals of a change in this view would be surprising. "I continue to expect rates to be reduced to 1.5% by year end given a more aggressive US trade posture against the European Union. Markets suggest a slightly less dovish outlook with rates ending the year just below 1.6%.' Investors will also focus on the ECB's latest forecasts at the scheduled press conference this afternoon. London's benchmark index (^FTSE) was hovering near the flatline in early trade. Germany's DAX (^GDAXI) rose just 0.2% and the CAC (^FCHI) in Paris also headed 0.2% into the green. The pan-European STOXX 600 (^STOXX) was up 0.2%. Wall Street is set for a positive start as S&P 500 futures (ES=F), Dow futures (YM=F) and Nasdaq futures (NQ=F) were all in the green. The pound was 0.1% up against the US dollar (GBPUSD=X) at 1.3564. Follow along for live updates throughout the day: Stocks in Asia were mixed overnight with the Nikkei (^N225) down 0.5% on the day in Japan, while the Hang Seng (^HSI) rose 0.9% in Hong Kong. The Shanghai Composite ( was 0.2% up by the end of the session. Across the pond on Wall Street, the S&P 500 (^GSPC) eked out a 0.01% gain, and the tech-heavy Nasdaq (^IXIC) was 0.3% higher. The Dow Jones (^DJI) lost 0.2% by the closing bell. Good morning, and welcome back to our markets live blog. As usual we will be taking a deep dive into what's moving markets today, as well as all that's happening across the global economy. The main highlight of the day will be the ECB's latest policy decision and president Lagarde's subsequent press conference. Otherwise, we'll hear from the Fed's Kugler, Harker and Schmid, BoE deputy governor Breeden, and the BoE's Greene. Data releases from the US include the weekly initial jobless claims and the April trade balance. Meanwhile in Europe, there's German factory orders for April, and the May construction PMIs for Germany and the UK. Here's a quick snapshot of what's on the agenda for today: 7am: Trading updates: Mitie, Wizz Air, Workspace, Dr Martens, Young's & Co Brewery 7am: German factory orders for April 9am: UK new car sales report for May 9.30am: UK construction PMI report 1.15pm: European Central Bank interest rate decision 1.30pm: US trade data for April 1.30pm: US weekly jobless claims data 1.45pm: European Central Bank press conferenceStocks in Asia were mixed overnight with the Nikkei (^N225) down 0.5% on the day in Japan, while the Hang Seng (^HSI) rose 0.9% in Hong Kong. The Shanghai Composite ( was 0.2% up by the end of the session. Across the pond on Wall Street, the S&P 500 (^GSPC) eked out a 0.01% gain, and the tech-heavy Nasdaq (^IXIC) was 0.3% higher. The Dow Jones (^DJI) lost 0.2% by the closing bell. Good morning, and welcome back to our markets live blog. As usual we will be taking a deep dive into what's moving markets today, as well as all that's happening across the global economy. The main highlight of the day will be the ECB's latest policy decision and president Lagarde's subsequent press conference. Otherwise, we'll hear from the Fed's Kugler, Harker and Schmid, BoE deputy governor Breeden, and the BoE's Greene. Data releases from the US include the weekly initial jobless claims and the April trade balance. Meanwhile in Europe, there's German factory orders for April, and the May construction PMIs for Germany and the UK. Here's a quick snapshot of what's on the agenda for today: 7am: Trading updates: Mitie, Wizz Air, Workspace, Dr Martens, Young's & Co Brewery 7am: German factory orders for April 9am: UK new car sales report for May 9.30am: UK construction PMI report 1.15pm: European Central Bank interest rate decision 1.30pm: US trade data for April 1.30pm: US weekly jobless claims data 1.45pm: European Central Bank press conference
The Guardian
5 days ago
- Business
- The Guardian
European Central Bank expected to cut eurozone interest rates today after inflation falls
Update: Date: Title: Introduction: ECB expected to cut interest rates today Content: Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy. Interest rates across the eurozone are likely to be cut today, as the European Central Bank attempts to support the euro economy as it reels from the damage caused by Donald Trump's trade wars. The ECB is widely expected to cut its key interest rates by a quarter of one percentage point. That would lower its deposit facility rate to 2%, and would be the eighth cut in a year. A cut looks nailed on, after inflation across the eurozone fell to 1.9% last month, below the ECB's 2% target for the first time since last September. Markets are pricing almost a 100% probability of a quarter-point cut, reports Ronald Temple, chief market strategist at Lazard Asset Management, adding: With ongoing declines in inflation and consistently dovish language from ECB members, a rate cut appears to be a done deal. The ECB has previously described 1.75%–2.25% as the range that would be considered neutral monetary policy. Any signals of a change in this view would be surprising. I continue to expect rates to be reduced to 1.5% by year end given a more aggressive US trade posture against the European Union. Markets suggest a slightly less dovish outlook with rates ending the year just below 1.6%.' Today, investors will also be interested to hear the ECB's latest forecasts – economists expect cuts to its growth and inflation projections for next year. The ECB may also signal that it could pause its rate cutting cycle over the summer, before reassessing the situation in September. Christine Lagarde can also expect questions about her claim last month that the euro could take on a more global role, as the dollar loses influence amid the current trade turmoil. Lagarde's future could also come up, following claims that she has discussed cutting short her term as European Central Bank president to become chair of the World Economic Forum. 7am: German factory orders for April 9am BST: UK new car sales report for May 9.30am BST: UK construction PMI report 1.15pm BST: European Central Bank interest rate decision 1.30pm BST: US trade data for April 1.30pm BST: US weekly jobless claims data 1.45pm BST: European Central Bank press conference Update: Date: 2025-06-05T06:32:14.000Z Title: German factory orders rise unexpectedly Content: German factory orders have jumped unexpectedly, defying forecasts that they would fall as Donald Trump's tariffs disrupted trade. Orders at German manufacturers rose by 0.6% in April, official data this morning shows, beating forecasts of a 1% fall. Der #Dienstleistungssektor in Deutschland hat im März 2025 nach vorläufigen Ergebnissen real 0,5 % und nominal 0,6 % mehr #Umsatz erwirtschaftet als im Februar 2025. Verglichen mit März 2024 gab es einen Umsatzanstieg von real 0,9 % und nominal 2,7 %. Statistics body Destatis also reported that foreign orders declined by 0.3%, despite a 0.5% rise in orders from within the eurozone. Domestic orders increased by 2.2%. Demand for data processing equipment, electronic, and optical products increased, while there was also a rise in new orders for transport equipment, and for metal products. Update: Date: 2025-06-05T06:25:10.000Z Title: Introduction: ECB expected to cut interest rates today Content: Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy. Interest rates across the eurozone are likely to be cut today, as the European Central Bank attempts to support the euro economy as it reels from the damage caused by Donald Trump's trade wars. The ECB is widely expected to cut its key interest rates by a quarter of one percentage point. That would lower its deposit facility rate to 2%, and would be the eighth cut in a year. A cut looks nailed on, after inflation across the eurozone fell to 1.9% last month, below the ECB's 2% target for the first time since last September. Markets are pricing almost a 100% probability of a quarter-point cut, reports Ronald Temple, chief market strategist at Lazard Asset Management, adding: With ongoing declines in inflation and consistently dovish language from ECB members, a rate cut appears to be a done deal. The ECB has previously described 1.75%–2.25% as the range that would be considered neutral monetary policy. Any signals of a change in this view would be surprising. I continue to expect rates to be reduced to 1.5% by year end given a more aggressive US trade posture against the European Union. Markets suggest a slightly less dovish outlook with rates ending the year just below 1.6%.' Today, investors will also be interested to hear the ECB's latest forecasts – economists expect cuts to its growth and inflation projections for next year. The ECB may also signal that it could pause its rate cutting cycle over the summer, before reassessing the situation in September. Christine Lagarde can also expect questions about her claim last month that the euro could take on a more global role, as the dollar loses influence amid the current trade turmoil. Lagarde's future could also come up, following claims that she has discussed cutting short her term as European Central Bank president to become chair of the World Economic Forum. 7am: German factory orders for April 9am BST: UK new car sales report for May 9.30am BST: UK construction PMI report 1.15pm BST: European Central Bank interest rate decision 1.30pm BST: US trade data for April 1.30pm BST: US weekly jobless claims data 1.45pm BST: European Central Bank press conference
CNBC
19-05-2025
- Business
- CNBC
Asia-Pacific markets set to rise with Reserve Bank of Australia decision, China loan prime rate on deck
Cityscape image of Sydney, Australia with Harbor Bridge and Sydney skyline during sunset. Vacation and travel in Australia. Prasit Photo | Moment | Getty Images Asia-Pacific markets were set to climb Tuesday as investors look toward the Reserve Bank of Australia's policy rate decision, as well as the listing of the world's largest battery manufacturer Contemporary Amperex Technology. Japan's benchmark Nikkei 225 is set to open higher, with the futures contract in Chicago at 37,640 while its counterpart in Osaka last traded at 37,570, against the index's last close of 37,498.63. Likewise, Australia's benchmark S&P/ASX 200 is set to rise, with futures standing at 8,384, higher than the index's close of 8,295.1. Futures for Hong Kong's Hang Seng index stood at 23,378, slightly higher than its last close of 23,332.72. The Reserve Bank of Australia is slated to release its policy rate decision later in the day. Australia's inflation has been easing, with the most recent headline inflation coming in at a four-year in at a four-year low of 2.4% in the first quarter of 2025. The Reserve Bank of Australia has emphasized in its previous monetary policy statement that bringing inflation to its 2% to 3% target range sustainably remains its highest priority. The Commonwealth Bank of Australia expects the RBA to cut the cash rate by 25 basis points to 3.85%. The RBA said in its previous monetary policy statement that returning inflation sustainably to its target of between 2% and 3% "within a reasonable timeframe" is its highest priority. China is also slated to report its loan prime rate decision. The People's Bank of China is expected to cut its 1-Year Loan Prime Rate (LPR) and 5-Year LPR by 10 bps to 3.00% and 3.50% respectively, said Lazard's Chief Markets Strategist Ronald Temple. "While the decrease is very small, it is yet another signal that the central government is still working to stimulate economic activity, albeit in a suboptimal and insufficient manner," Temple said in a note late Monday. Investors are also looking toward the listing of the CATL on the Hong Kong stock exchange, in what will reportedly be the largest global listing in 2025. U.S. stock futures were little changed. S&P 500 futures rose less than 0.1%. Nasdaq 100 futures were down 0.1%, while futures tied to the Dow Jones Industrial Average added 54 points, or 0.14%. Overnight stateside, the three major averages closed higher. The S&P 500 posted a slim gain on Monday as Treasury yields came off their highs and investors sought to look past Moody's downgrade of the United States' credit rating. The benchmark added 0.09% and closed at 5,963.60, marking its sixth consecutive winning session. The Nasdaq Composite inched up 0.02% to end at 19,215.46. The Dow Jones Industrial Average rose 137.33 points, or 0.32%, and settled at 42,792.07. The 30-stock index was aided by a rebound in UnitedHealth, which saw an 8% jump after a recent bout of hard selling. — CNBC's Lisa Kailai Han and Alex Harring contributed to this report. The S&P 500 closed marginally higher on Monday. The benchmark added 0.09%, finishing at 5,963.60. The Dow Jones Industrial Average rose 137.33 points, or 0.32%, settling at 42,792.07, while the Nasdaq Composite edged up 0.02% and closed at 19,215.46. — Lisa Kailai Han U.S. Secretary of the Treasury Scott Bessent speaks with China's Vice Minister of Finance Liao Min, on the day of a bilateral meeting between the U.S. and China, in Geneva, Switzerland, May 11, 2025. Keystone/eda/martial Trezzini | Via Reuters China said Monday that the U.S. has undermined a preliminary trade deal between the two countries after the U.S. warned industry against using Huawei chips. "China urges the U.S. to immediately correct its wrong practices and stop discriminatory measures against China," a spokesperson for China's Ministry of Commerce told a reporter, according to a Google translation. "If the U.S. insists on its own way and continues to substantially damage China's interests, China will take resolute measures to safeguard its legitimate rights and interests," the spokesperson said. — Kevin Breuninger, Spencer Kimball
Yahoo
14-05-2025
- Business
- Yahoo
Lazard's Temple Sees 'World of Opportunity' in Non-US Equities
Lazard Chief Market Strategist Ronald Temple says being invested in equities is a better place to be than cash over the long run. Speaking on "Bloomberg Open Interest," Temple also says he sees a "world of opportunity" outside of the US. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
