European Economic News Preview: UK Chancellor To Deliver Autumn Statement

RTTNews | Před 629 dny

(RTTNews) - UK Chancellor of the Exchequer Jeremy Hunt will deliver the 2023 Autumn Statement on Wednesday, outlining the government's fiscal plan for the year ahead.

Hunt suggested that he will cut taxes on business to support economic growth. His options to cut taxes are limited as public debt now remains close to 100 percent of gross domestic product, which is the highest since 1960s.

The announcement is due at around 7.30 am ET.

On the eve of delivering his budget update, Hunt raised the national minimum wage by around 10 percent to GBP 11.44 an hour.

The Office for Budget Responsibility, or OBR, the independent public finances forecaster, is set to publish its revised forecasts for the economy and public finances. The Bank of England has forecast the economy to stagnate next year.

Other major economic reports due on Wednesday are the Financial Stability Review from the European Central Bank and flash consumer confidence from the euro area.

At 4.00 am ET, the ECB is set to release Financial Stability Review.

At 6.00 am ET, the Confederation of British Industry is scheduled to issue Industrial Trends Survey results. The order book balance is forecast to rise to -25 percent in November from -26 percent in October. At 9.10 am ET, ECB Board Member Frank Elderson speaks at an event organized by Bertelsmann Stiftung in Berlin, Germany.

At 10.00 am ET, the European Commission releases monthly flash consumer sentiment survey results. The euro area confidence index is forecast to improve to -17.6 in November from -17.9 in October.

Japanese Market Sharply Higher; Up 2%

The Japanese stock market is trading sharply higher on Tuesday, extending the gains in the previous five sessions, despite the broadly negative cues from Wall Street overnight, with the Nikkei 225 surging over 2 percent near the 42,700 level to record all-time highs, with gains across all sectors led by index heavyweights, technology and financial stocks.

RTTNews | Před 20 minutami

Indonesia Stock Market May Be Stuck In Neutral On Tuesday

The Indonesia stock market has tracked higher in back-to-back sessions, improving more than 115 points or 15 percent along the way. The Jakarta Composite Index now sits just above the 7,600-point plateau although it's expected to open in the red on Tuesday. The global forecast for the Asian markets is soft ahead of key U.S. inflation data. The European markets were mixed and the U.S. bourses were down and the Asian markets also figure to track into the red.

RTTNews | Před 28 minutami

Renewed Consolidation Likely For Hong Kong Stock Market

The Hong Kong stock market moved higher again on Monday, one session after snapping the four-day winning streak in which it had rallied more than 570 points or 2.4 percent. The Hang Seng Index now rests just above the 24,900-point plateau although it may hand back those gains on Tuesday. The global forecast for the Asian markets is soft ahead of key U.S. inflation data. The European markets were mixed and the U.S. bourses were down and the Asian markets also figure to track into the red.

RTTNews | Před 43 minutami

Australian Market Modestly Higher

The Australian stock market is trading modestly higher on Tuesday after opening in the red, extending the gains in the previous session, despite the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving above the 8,850 level to fresh all-time high, with gains in financial and energy stocks and a mixed performance in mining and technology stocks.

RTTNews | Před 50 minutami

China Stock Market May Hand Back Monday's Gains

The China stock market bounced higher again on Monday, one session after halting the four-day winning streak in which it had gathered almost 80 points or 2.4 percent. The Shanghai Composite Index now sits just beneath the 3,650-point plateau although it's likely to head south again on Tuesday. The global forecast for the Asian markets is soft ahead of key U.S. inflation data. The European markets were mixed and the U.S. bourses were down and the Asian markets also figure to track into the red.

RTTNews | Před 58 minutami

Taiwan Shares May Run Out Of Steam On Tuesday

The Taiwan stock market has moved higher in three straight sessions, rallying more than 685 points or 2.9 percent along the way. The Taiwan Stock Exchange now sits just above the 24,135-point plateau although it may be stuck in neutral on Tuesday. The global forecast for the Asian markets is soft ahead of key U.S. inflation data. The European markets were mixed and the U.S. bourses were down and the Asian markets also figure to track into the red.

RTTNews | Před 1 h 28 min

Singapore Q2 GDP Climbs 4.4% On Year

Singapore's gross domestic product expanded 4.4 percent on year in the second quarter of 2025, the Ministry of Trade and Industry said on Tuesday - beating forecasts for 4.3 percent, which would have been unchanged.

RTTNews | Před 1 h 35 min

Singapore Bourse May Give Up Support At 4,200 Points

The Singapore stock market has finished lower in two straight sessions, slipping more than 25 points or 0.6 percent along the way. The Straits Times Index now sits just above the 4,230-point plateau and it may extend its losses on Tuesday. The global forecast for the Asian markets is soft ahead of key U.S. inflation data. The European markets were mixed and the U.S. bourses were down and the Asian markets also figure to track into the red.

RTTNews | Před 1 h 58 min

EURUSD	1.16185	GBPUSD	1.34316	AUDUSD	0.65158
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