The latest news and events driving markets around the world, supplied by Marketwatch and Reuters.
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UBS Chairman Axel Weber has said that around 1,000 of the Swiss bank's 5,000 employees based in London could be impacted by Britain's exit from the European Union. "We have roughly 5,000 people in London. "So were still looking at what is happening but of course we have to look at optionality and weve largely done that so far."
Pound is moving lower after logging biggest one-day gain since 2008.. U.K. stocks advanced Wednesday, recovering some ground after suffering their worst loss in six months after the British prime minister revealed her government's Brexit plans. The FTSE 100 rose 0.4% to 7,249.27, led by consumer goods, utility and health care shares.
German inflation rises to highest since 2013. European stocks searched for firm direction Wednesday, as investors sifted through corporate updates, including better-than-anticipated results from ASML Holding NV. The Stoxx Europe 600 was down less than 1 point at 362.28, drifting back from a modest gain of 0.3%.
Trump, the dollar is likely to go up no matter what you say. President-elect Donald Trump, in an interview with The Wall Street Journal, said that the dollar was "too strong," and it is not hard to see why. A strong dollar lowers costs for the importers and outsourcers he says have taken American jobs.
Japan financials slide; Hang Seng breaches 23,000 mark. Asian markets lacked direction Wednesday as traders grappled with the uncertainties about the policies of U.S. President-elect Donald Trump, whose inauguration looms.
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