Service sector “out of the shadows” at the end of the economic slowdown – live updates


3) Shops closed on “Super Saturdays”: game centers, gymnasiums, swimming pools, manicure and beauty salons and spas are among the companies that will have to wait to reopen4) Where the ax of jobs is falling across the UK: companies across Britain have seen their income decimated by the impact of the Covid-19 pandemic. A total of 108,737 jobs were lost or threatened. This does not include a number of companies that have warned of the layoffs but have yet to cost them.

5) The Celsa steel industry has obtained an emergency loan from the government under what is considered the first agreement under the “Birch Project” program to support strategically important companies. Celsa, which has 1,600 employees in the UK, has received a £ 30 million bailout.

What happened overnight

HKong’s stocks ended the morning on a high note, building on yesterday’s rally following a US employment report that beat forecasts. The Hang Seng index increased by 0.84 pc, or 211.89 points, to 25,336.08.

Tokyo ended the day up 0.3 pc and Shanghai jumped more than 1 pc. Sydney and Seoul increased by 0.6 pc, Taipei put 0.7 pc and Wellington gained 0.8 pc. Advances were also recorded in Singapore and Jakarta, although Manila declined slightly.

China’s service sector grew at the fastest pace in more than a decade in June, as loosening foreclosure measures revised consumer demand, private survey said on Friday, although companies continued to cut jobs.

The Caixin / Markit Purchasing Managers’ Index (PMI) reached 58.4, the highest level since April 2010, down from 55.0 in May, moving away from the February low.

Coming today

Full year: Fuller Smith & Turner

Economy: Consumer confidence (United Kingdom), PMI for final reading services (United Kingdom, euro zone), Caixin services PMI (China), American public holiday (Independence Day)


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