Britain’s recession ‘already over’ amid private sector surge


Thanks for joining me. Japan’s Nikkei broke a record high last set in 1989 after blockbuster results from US chip giant Nvidia fuelled AI stocks mania.

The Nikkei 225 closed 2.2pc higher to end at 39,098.68, breaking a record last set before the country’s financial bubble burst 35 years ago.

5 things to start your day 

1) China risks pushing up UK energy bills further, warns Dominic Raab | Beijing’s stranglehold over critical minerals could worsen prices in the West

2) How China plans to save its economy by flooding the West with cheap cars | The West is on red alert as Xi desperately plots for Beijing to regain superpower status

3) Morgan Stanley bankers dropped a ‘nuclear bomb’ on my business, says Mike Ashley | Retail tycoon hits out at ‘class-driven’ demand for $1bn in High Court clash

4) Former Tory donor reaps $1bn from successful US bet | Chris Rokos’ hedge fund capitalises on major bond sell-off

5) Jeremy Warner: Voters have finally woken up from Biden’s American dream | Americans now realise the President’s ‘economic miracle’ is not all that it seems

What happened overnight 

Japan’s benchmark Nikkei 225 index surged Thursday past the record it set in 1989 before its financial bubble burst, ushering in an era of faltering growth.

The index closed Thursday at 39,098.68, up 2.2pc. It had been hovering for weeks near 34-year highs. Its previous record was 38,915.87, set on December 29, 1989.

That was more than a generation ago at the height of Japan’s post-war boom.

Elsewhere, Hong Kong and Shanghai stocks were trading higher, as were Seoul, Taipei, Bangkok, Manila and Wellington. Sydney was flat.

In America, the S&P 500 rose 0.1pc, to 4,981.80. The benchmark index spent much of the day in losing territory before climbing higher just before markets closed. 

The Dow Jones Industrial Average of 30 top American companies also eked out a slight gain after losing ground most of the day. It rose 0.1pc, to 38,612.24. Meanwhile, the technology-heavy Nasdaq Composite index fell 0.3pc, to 15,580.87.

Yields in US Treasury bonds rose on Wednesday after minutes from the Federal Reserve’s last meeting showed concerns about cutting interest rates too soon. The yield on benchmark 10-year Treasury bonds rose to 4.33pc from 4.28pc late on Tuesday.



Read More: Britain’s recession ‘already over’ amid private sector surge

2024-02-22 09:37:00

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments