Samuel Indyk

Britain's new finance minister, John Healey, delivers his first budget on Wednesday against a backdrop of rising global borrowing costs and high energy prices due to the Iran war.

European companies are expected to deliver another quarter of exceptional earnings growth, again driven mainly by profits at energy companies and those pivotal to the datacentre buildout, although signs are emerging of strength elsewhere.

British banking stocks ​fell slightly on ‌Friday after the Guardian reported finance minister John ​Healey was ​set to tax the banks in ⁠his October 28 ​budget as he ​attempts to keep deficit reduction plans on track.

Britain's new finance minister, John Healey, delivers his first budget on October 28 against a ​backdrop of rising global borrowing costs and high energy prices due to the Iran war.

European luxury firms have seen some $350 billion in value knocked off their combined market capitalizations this ​year, as hopes of a sector rebound have faded and ​weakness in key growth engine China has persisted.

Major stock indexes rose and the dollar fell on Friday as expectations for a Federal Reserve interest rate increase later this month fell after softer-than-forecast US jobs data.

The dollar was flat against major currencies ​on Monday, as the continued stand-off between the US and Iran pushed oil prices higher, and as the ‌Treasury market's selloff resumed, boosting yields.

The pound rebounded from multi-month lows ​against both the dollar and the euro on Monday as investors priced in tighter monetary policy ‌from the Bank of England as inflation pressures build.

British government bonds rallied sharply on ​Thursday after the Bank of England soothed the gilt market by announcing it would pause its active debt sales, which some commentators ‌have blamed for adding to the pressure on gilts, as it held interest rates steady.

The British pound was little changed against the euro and the ‌dollar on Wednesday as underlying readings of UK inflation held steady in August, even as headline consumer price inflation accelerated to a five-month high.