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UK Wage Growth Suggests Gradual Interest Rate Cuts

The UK wage growth accelerated more than expected in the three months to October supporting a case for more gradual interest rate reductions next year as pay increases could revive inflationary pressures. Excluding bonus, annual growth in average earnings came in at 5.2 percent compared to 4.9 percent in the three months to September, the Office for National Statistics said Tuesday.
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Canadian Market Likely To Open Lower

Canadian Market Likely To Open Lower

Lower Canadian and U.S. futures, and weak commodity prices point to a negative start on Bay Street Tuesday morning. Canadian inflation data and U.S. retail sales data are in focus, and investors are also looking ahead to the Federal Reserve's monetary policy meeting that gets underway today.
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German Investor Confidence Highest In 4 Months In December - ZEW

German Investor Confidence Highest In 4 Months In December - ZEW

Economic sentiment in Germany unexpectedly rebounded in December to its highest level in four months as financial market experts turned optimistic on the announcement of snap elections in February next year and the prospect of more interest rate cuts from the European Central Bank, results of a survey by the think tank ZEW showed Tuesday.
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Yen Rises Against Majors

Yen Rises Against Majors

The Japanese yen strengthened against its major rivals in the European session on Tuesday.
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Eurozone Trade Surplus Declines In October

Eurozone Trade Surplus Declines In October

The euro area trade surplus declined in October largely due to the rebound in imports, data from Eurostat showed on Tuesday. The trade surplus fell to EUR 6.8 billion in October from EUR 9.4 billion a year ago. This was also below September's level of EUR 11.6 billion. The fall in surplus reflects a reduction in the surplus for chemicals and related products and machineries and vehicles.
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Pound Rises On Robust U.K. Wage Growth

Pound Rises On Robust U.K. Wage Growth

The British pound strengthened against other major currencies in the European session on Tuesday, after the U.K. labor market data for the three months ending October showed robust wage growth, signaling that the Bank of England will hold off cutting interest rates on Thursday.
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German Ifo Business Confidence Worsens In December

German Ifo Business Confidence Worsens In December

Business sentiment in Germany fell to the weakest level since 2020 in December as firms were more skeptical about the economic outlook, survey results from the ifo Institute showed on Tuesday, amid the prospect of trade rifts with the U.S. and the uncertainty surrounding domestic economic policies. The ifo business climate index fell to 84.7 in December from 85.6 in the previous month.
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Alibaba Sees $1.3 Bln Loss On Sale Of Intime Store Chain

Alibaba Sees $1.3 Bln Loss On Sale Of Intime Store Chain

Alibaba Group Holding Limited announced its agreement to sell Intime department store chain in China to textile and apparel company Youngor Group-led consortium in around RMB 7.4 billion or $1.0 billion deal. The online marketplace company, which currently holds 99 percent stake in Intime, expects to record losses of around RMB 9.3 billion or $1.3 billion as a result of the planned sale.
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Pound Rises Against Majors

Pound Rises Against Majors

The British pound strengthened against other major currencies in the European session on Tuesday.
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CAC 40 Slides Amid Political Turmoil

CAC 40 Slides Amid Political Turmoil

French stocks edged lower on Tuesday in the face of mounting political and economic challenges in Germany and France.
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