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Added on the 30/06/2016 17:56:11 - Copyright : Reuters EN
According to Reuters, a global gauge of stock markets fell below a two month low. On May 29th, MSCI's all-country world stock index fell about 1-percent with losses stretching across Asia, the US, and Europe. In Europe, the Stoxx 600 index fell 1.4-percent, while the euro was steady after two days of losses. On Wall Street, the top three markets on the New York Stock Exchange lost about 1-percent each. The Dow Jones Industrial Average plunged 270-points, dropping over 1-percent.
The second quarter of trading kicked off with gloomy data from Japan, overshadowing encouraging figures from China's manufacturers. As Kirsty Basset reports, the downbeat numbers drove stocks and oil lower, and supported safe-haven assets like gold and the Japanese yen.
The OECD raises its global economic growth forecast for 2024, driven by strong performances in the United States and emerging countries while Europe lags behind. The US economy -- the world's biggest -- is now expected to expand 2.6 percent in 2024, up from the 2.1 percent previously expected. But the OECD expects timid growth of 0.7 percent in the eurozone, slightly better than the 0.6 percent previously expected. SOUNDBITE
Britain will gradually boost its defence spending to 2.5 percent of GDP by 2030, Prime Minister Rishi Sunak announces during a visit to Poland. "Over the next six years, we'll invest an additional 75 billion pounds in our defence," Sunak says alongside Jens Stoltenberg, NATO chief. SOUNDBITE
UN climate chief Simon Stiell warns that global warming will "decimate G20 economies" without unity. "Sidelining climate isn’t a solution to a crisis that will decimate every G20 economy and has already started to hurt," he says during his address at the UK think tank Chatham House, London, UK. SOUNDBITE
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