Join Kathleen Brooks on our Youtube Channel at 12pm BST today to find out what is moving markets now. Why China is more important to European stocks than the ECB and what may come next for commodities. https://www.youtube.com/watch?v=lrvEZ50oULc
The Chinese authorities managed to surprise the market on Thursday, with a large stimulus plan that exceeded expectations. The PBOC has thrown the kitchen sink at its sluggish economy and unloved equity market. It announced cuts to short-term interest rates and reserve requirements, which are now at their lowest level since 2020. It also eased mortgage rates to the tune of $5.3trn and eased the ability to purchase second homes. In a surprise move, the PBOC also announced $113bn of liquidity support for equities, and Asian indices have surged on Tuesday.
Tune it and join the discussion.
Daily Summary: 📉 A Red Day Across Markets. AI Sector Weighs on Wall Street, Precious Metals Under Pressure
Wheat futures hit two-year high 🔼 Russian exports at risk
Cocoa rises on a wave of rebounding demand in Asia. Europe remains in retreat
A win for England: first half growth on positive track, keeps pound buoyant
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