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US tariff war hurting trade with China; M&S ‘tells hundreds of agency staff not to come to work’ after cyber attack – business live
Rolling coverage of the latest economic and financial news
Sky News are reporting that hundreds of agency staff at Marks & Spencer’s main clothing and home warehouse in the East Midlands have been told not to come in.
That highlights the disruption being cause by the huge M&S cyberattack, which has led to the suspension of online orders last week.
Despite the uncertainty, the STOXX 600 is up 3% year-to-date, having rebounded by 11% from its recent trough. Looking at the performance of Cyclicals versus Defensives, we find that the European equity market is currently pricing Euro area GDP growth of approximately 1.5%.
This is higher than our economists’ forecast for Euro area real GDP growth of 0.7% in 2025. Continue reading...