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You can find the current article at its original source at http://www.theguardian.com/business/live/2015/sep/15/chinese-stocks-fall-again-uk-inflation-markets-live
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UK inflation rate hits zero; Greek election and Fed loom - as it happened | UK inflation rate hits zero; Greek election and Fed loom - as it happened |
(17 days later) | |
6.02pm BST | 6.02pm BST |
18:02 | 18:02 |
A day after the televised debate in Greece between Syriza’s Alexis Tsipras and New Democracy’s Vangelis Meimarakis, the latter has said he would seek a coalition with Syriza if it wins Sunday’s election. Newspaper Kathimerini reports: | A day after the televised debate in Greece between Syriza’s Alexis Tsipras and New Democracy’s Vangelis Meimarakis, the latter has said he would seek a coalition with Syriza if it wins Sunday’s election. Newspaper Kathimerini reports: |
“If New Democracy wins the elections, I will first meet with Alexis Tsipras to try to form a government,” Meimarakis said. | “If New Democracy wins the elections, I will first meet with Alexis Tsipras to try to form a government,” Meimarakis said. |
Questioned about potential alliances during Monday’s debate, Tsipras insisted that he believed Syriza would win an overall majority but that he would otherwise be prepared to form a “progressive” coalition. He ruled out an “unnatural” alliance with New Democracy, saying “We have radical differences on key issues.” | Questioned about potential alliances during Monday’s debate, Tsipras insisted that he believed Syriza would win an overall majority but that he would otherwise be prepared to form a “progressive” coalition. He ruled out an “unnatural” alliance with New Democracy, saying “We have radical differences on key issues.” |
On that note it’s time to close up for the evening. Thanks for all your comments, and we’ll be back tomorrow, counting down the hours until the Federal Reserve rate decision. | On that note it’s time to close up for the evening. Thanks for all your comments, and we’ll be back tomorrow, counting down the hours until the Federal Reserve rate decision. |
5.25pm BST | 5.25pm BST |
17:25 | 17:25 |
European markets move higher ahead of Fed meeting | European markets move higher ahead of Fed meeting |
Despite another bad day on the Chinese stockmarket, European shares managed to gain some ground, spurred by a positive early performance by Wall Street. Traders said the prospect of a rate rise in the UK this year diminished after inflation came in at zero, while uninspiring data from the US seemed to suggest the Federal Reserve may well hold off on raising borrowing costs later this week. However another theory for the rise was that the uncertainty about what the Fed planned to do would be ended if it actually acted and raised rates. So the final scores showed: | Despite another bad day on the Chinese stockmarket, European shares managed to gain some ground, spurred by a positive early performance by Wall Street. Traders said the prospect of a rate rise in the UK this year diminished after inflation came in at zero, while uninspiring data from the US seemed to suggest the Federal Reserve may well hold off on raising borrowing costs later this week. However another theory for the rise was that the uncertainty about what the Fed planned to do would be ended if it actually acted and raised rates. So the final scores showed: |
On Wall Street the Dow Jones Industrial Average is currently 175 points or 1% higher. | On Wall Street the Dow Jones Industrial Average is currently 175 points or 1% higher. |
Updated | Updated |
at 5.58pm BST | at 5.58pm BST |
4.43pm BST | 4.43pm BST |
16:43 | 16:43 |
Markets may be moving higher today, but they are stuck in no-man’s land ahead of the US Federal Reserve meeting this week, says Chris Beauchamp, senior market analyst at IG: | Markets may be moving higher today, but they are stuck in no-man’s land ahead of the US Federal Reserve meeting this week, says Chris Beauchamp, senior market analyst at IG: |
Ahead of what looks like the most vital Fed meeting in years, the best thing for markets to do would be simply to sit still and wait for Thursday afternoon. With that being impossible, they have opted for the second choice, namely running around in circles. | Ahead of what looks like the most vital Fed meeting in years, the best thing for markets to do would be simply to sit still and wait for Thursday afternoon. With that being impossible, they have opted for the second choice, namely running around in circles. |
A near 150-point range on the FTSE 100 today looks relatively busy, but in fact the index remains stuck within the range that has dominated all September. This is not an environment for long-term decision making, indeed so much is riding on Thursday’s events the market has become even more short-sighted than normal. Nonetheless, the longer the FTSE 100 remains stuck below 6200, the more it seems that the next big move is down. Despite the recovery off the lows of August, the index remains stuck in a downtrend, with so far little sign of a sustained comeback. | A near 150-point range on the FTSE 100 today looks relatively busy, but in fact the index remains stuck within the range that has dominated all September. This is not an environment for long-term decision making, indeed so much is riding on Thursday’s events the market has become even more short-sighted than normal. Nonetheless, the longer the FTSE 100 remains stuck below 6200, the more it seems that the next big move is down. Despite the recovery off the lows of August, the index remains stuck in a downtrend, with so far little sign of a sustained comeback. |
4.40pm BST | 4.40pm BST |
16:40 | 16:40 |
Undecided voters are #Greece's third largest party right now, polls show. Their last-minute choice will decide Sunday's election outcome. | Undecided voters are #Greece's third largest party right now, polls show. Their last-minute choice will decide Sunday's election outcome. |
4.20pm BST | 4.20pm BST |
16:20 | 16:20 |
Back with Greece, and Syriza’s government programme is out (here in Greek), five days before the election. | Back with Greece, and Syriza’s government programme is out (here in Greek), five days before the election. |
Updated | Updated |
at 4.21pm BST | at 4.21pm BST |
4.12pm BST | 4.12pm BST |
16:12 | 16:12 |
Here’s an interesting little graphic from the World Economic Forum: | Here’s an interesting little graphic from the World Economic Forum: |
What the world would look like if countries were the size of their #stockmarkets http://t.co/If6oi7R8rh pic.twitter.com/Bco7Rzcstc | What the world would look like if countries were the size of their #stockmarkets http://t.co/If6oi7R8rh pic.twitter.com/Bco7Rzcstc |
3.53pm BST | 3.53pm BST |
15:53 | 15:53 |
After Monday’s television debate in Greece between Syrza’s Alexis Tsipras and New Democracy’s Vangelis Meimarakis, comes a new ballot showing a marginal increase in support for the latter ahead of Sunday’s elections: | After Monday’s television debate in Greece between Syrza’s Alexis Tsipras and New Democracy’s Vangelis Meimarakis, comes a new ballot showing a marginal increase in support for the latter ahead of Sunday’s elections: |
Greece: ND-EPP lead over SYRIZA in latest poll (Data RC). Important because of 50 seats extra for strongest party in #vouli. #debate | Greece: ND-EPP lead over SYRIZA in latest poll (Data RC). Important because of 50 seats extra for strongest party in #vouli. #debate |
Greece, Data RC poll: ND-EPP: 33% ↑ SYRIZA-LEFT: 32% ↓ PASOK-S&D: 7% ↑ XA-NI: 7% ↑ KKE-NI: 6% Potami-S&D: 6% EK-ALDE: 3% ↑ LAE-NI: 3% ↑ | Greece, Data RC poll: ND-EPP: 33% ↑ SYRIZA-LEFT: 32% ↓ PASOK-S&D: 7% ↑ XA-NI: 7% ↑ KKE-NI: 6% Potami-S&D: 6% EK-ALDE: 3% ↑ LAE-NI: 3% ↑ |
3.36pm BST | 3.36pm BST |
15:36 | 15:36 |
Can't see NY Fed's Bill Dudley voting for a rate hike after those Empire Manufacturing numbers. #FOMC | Can't see NY Fed's Bill Dudley voting for a rate hike after those Empire Manufacturing numbers. #FOMC |
2.53pm BST | 2.53pm BST |
14:53 | 14:53 |
Wall Street has opened higher after the retail sales and industrial production data, but investors remains cautious ahead of the Fed meeting. | Wall Street has opened higher after the retail sales and industrial production data, but investors remains cautious ahead of the Fed meeting. |
The Dow Jones Industrial Average is up 36 points or 0.24% in early trading, while European markets are also heading in the right direction, with the FTSE 100 up 0.3%, Germany’s Dax 0.26% higher and France’s Cac 0.54% better. | The Dow Jones Industrial Average is up 36 points or 0.24% in early trading, while European markets are also heading in the right direction, with the FTSE 100 up 0.3%, Germany’s Dax 0.26% higher and France’s Cac 0.54% better. |
2.41pm BST | 2.41pm BST |
14:41 | 14:41 |
Another piece of weak US data, with industrial production falling 0.4% in August, adding to the evidence against a Federal Reserve rate rise. | Another piece of weak US data, with industrial production falling 0.4% in August, adding to the evidence against a Federal Reserve rate rise. |
This compares to forecasts of a 0.2% decline, and a 0.9% rise in July. Rob Carnell at ING Bank said: | This compares to forecasts of a 0.2% decline, and a 0.9% rise in July. Rob Carnell at ING Bank said: |
US August industrial production was even softer than consensus expectations, falling 0.4% month on month, with manufacturing down 0.5% month on month (consensus = -0.3%). | US August industrial production was even softer than consensus expectations, falling 0.4% month on month, with manufacturing down 0.5% month on month (consensus = -0.3%). |
Much of the weakness was in the vehicles sector, and when this is stripped out, production was flat on the month - still not great however, and this ex-vehicles segment has been flat, down or very weak for months now. If there are any bright spots, it is in utilities, which rose 0.6%, though mining put in another fall of 0.6%. | Much of the weakness was in the vehicles sector, and when this is stripped out, production was flat on the month - still not great however, and this ex-vehicles segment has been flat, down or very weak for months now. If there are any bright spots, it is in utilities, which rose 0.6%, though mining put in another fall of 0.6%. |
All in all, weak, disappointing, and taken together with other data earlier today - retail sales and Empire manufacturing, nudges the argument in the direction of the FOMC doves. With only consumer price inflation left to come before the September 17 meeting, and that likely to be on the low side, the data dependent Federal Open Market Committee might find the pendulum swinging a little more to the “no hike” side. | All in all, weak, disappointing, and taken together with other data earlier today - retail sales and Empire manufacturing, nudges the argument in the direction of the FOMC doves. With only consumer price inflation left to come before the September 17 meeting, and that likely to be on the low side, the data dependent Federal Open Market Committee might find the pendulum swinging a little more to the “no hike” side. |