Sterling heads for its first monthly loss since September

February 24, 2023

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📚 Daily Digest | Friday, Feb 24, 2023

Inflation focus, China's peace plan, Warner disappoints - what's moving markets

China publishes its proposals to bring peace to Ukraine, but its proposals are likely to be unacceptable to Kyiv. The U.S. announces more military aid for the beleaguered country. Warner Bros. Discovery disappoints with its quarterly earnings, but Beyond Meat jumps after narrowing its losses. The German economy shrunk by more than thought in the fourth quarter, ending what was, for some German companies, a disastrous 2022. Here's what you need to know in financial markets on Friday, 24th February.

Today's Top News

Forex

Sterling heads for its first monthly loss since September

The pound held steady on Friday, thanks to a modest lift from data that showed an improvement in UK consumer sentiment, but the currency was still headed for its first monthly drop since September.

Current Affairs

Britain will not sign off on Northern Ireland deal without DUP backing - Cleverly

Britain's foreign minister James Cleverly said London would not sign off on a deal with the European Union over changes to Northern Ireland's post-Brexit trading arrangements without the backing of its biggest unionist party.

Current Affairs

Junior doctors in England to stage three-day strike from March 13

Tens of thousands of junior doctors in England will take strike action for three days from March 13 in a dispute over pay, the British Medical Association (BMA) said on Friday, adding to a series of walkouts by other staff in a strained health system.

Stock Markets

Audi latest to shun Europe with EV production move to US

Volkswagen Group-owned Audi has suggested it could open a new electric vehicle (EV) factory in the US, given "attractive" incentives under the Inflation Reduction Act.

Commodities

Oil gains as Russian output cuts offset rising U.S. inventories

Oil prices extended gains for a second session on Friday as the prospect of lower exports from Russia offset rising inventories in the United States and concerns over global economic activity.

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