All the day’s economic and financial news, including the latest growth figures from UK factories and companies across the eurozoneLatest: Nasdaq hits record highChinese shares jump on stimulus hopesEurozone growth has dipped this monthEarlier:Introduction: Alphabet results beat expectationsProfits would have surged, but for EU fineAnalysts say Google remains very strong 2.48pm BST Breaking: The Nasdaq stock index has hit a fresh record high at the start of trading in New York.Tech giant Alphabet is driving the rally, up 4%, after smashing Wall Street forecasts last night.New record high for #tech focused #NASDAQ as Google’s numbers help send Alphabet stock surging to it’s own record high pic.twitter.com/96eJRTWQgvEuropean stock markets are higher in the wake of Beijing’s plans to stimulate the economy.The Chinese government unveiled plans to boost domestic demand in the face of heightened trade tensions. The second-largest economy in the world has been slowing down in recent years, and the tariffs imposed by the US are making matters worse. The proactive move by the Chinese authorities has lifted investor confidence around the global. 2.28pm BST Bitcoin is also on a tear this morning, as cryptocurrencies rally sharply.An inflow of positive news over the past few weeks regarding cryptocurrencies has revived investor appetite for Bitcoin and this can be reflected in the bullish price action. Goldman Sachs and BlackRock have expressed interest in the cryptocurrency markets while the Financial Services Board declared that they do not pose a threat to the global financial system.With this renewed sense of optimism over cryptocurrencies attracting investors from all directions, further upside could be on the cards in the near term. Continue reading…
Via: Google results and Chinese stimulus plans drive Nasdaq to fresh record high – business live
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