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Swiss Market Ends On Strong Note
The Switzerland market ended on an upbeat note on Tuesday, in line with markets across Europe, as investors chose to pick up stocks that had taken a severe beating in the final weeks of the previous year.
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European Stocks Turn In Positive Performance, Close On Firm Note
European stocks closed on a firm note on Tuesday with investors indulging in some strong buying at several counters as they assessed the impact of China's decision to relax Covid-related restrictions, and reacted to the data showing a drop in Germany's consumer price inflation.
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Is An End To Germany's Inflation Worries Near?
In what could be seen as a temporary relief, Germany's headline inflation eased sharply at the end of 2022, thanks to lower energy prices and the government's efforts to share the energy bill burden of the people. However, economists said the biggest euro area economy is set to reel under the pressures of high inflation for a long time, which in turn is set to keep the European Central Bank on its toes as policymakers continue with interest rate hikes.
Consumer price inflation slowed at a faster than expected pace in December as the rate of increase in energy prices slowed sharply after the government took relief measures, preliminary data from Germany's statistical office Destatis showed Tuesday.
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U.S. Construction Spending Unexpectedly Inches Higher In November
A report released by the Commerce Department on Tuesday unexpectedly showed a modest increase in U.S. construction spending in the month of November. The Commerce Department said construction spending crept up by 0.2 percent to an annual rate of $1.808 trillion in November after edging down by 0.2 percent to a revised rate of $1.803 trillion in October.
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U.S. Dollar Advances Ahead Of Data Deluge
The U.S. dollar climbed against its major counterparts in the European session on Tuesday, as investors awaited the release of the minutes of the U.S. Federal Reserve's last policy meeting that is expected to shed light on the trajectory and pace of rate hikes.
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Burning Rock Says FDA Grants Breakthrough Device Designation For OverC Multi-Cancer Blood Test
Burning Rock (BNR), a company focused on the application of next generation sequencing (NGS) technology in the field of precision oncology, announced Tuesday that its OverC Multi-Cancer Detection Blood Test (MCDBT) has been granted Breakthrough Device Designation by the US Food and Drug Administration (FDA), which is the third of its kind globally.
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UK Manufacturing Decline Gathers Pace Amid Subdued Demand
UK manufacturing contraction worsened in December as output, new orders, and employment declined at faster rates due to subdued demand conditions both domestically and internationally impacted by price pressures and increased market volatility, final results of the purchasing managers' survey by S&P Global showed Tuesday.
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more news
Currency Markets In 2022: Truly Fed-led!
The Fed's inflation-combat and the monetary policy tightening tools it pursued for the same, were the most dominant influence over currency markets in the year 2022.
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Bay Street Looks Set To Open The First Session Of New Year On Bright Note
Canadian shares are likely to open the first session of 2023 on a firm note, tracking positive European markets and higher bullion prices.
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German Unemployment Unexpectedly Falls
Germany's unemployment declined unexpectedly in December despite the economy moving closer to a likely recession. The unemployment rate remained unchanged at seasonally adjusted 5.5 percent in December, data from the Federal Labor Agency revealed Tuesday.
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Evaxion Biotech Gets FDA Approval To Proceed With Clinical Phase 2b Study For EVX-01
Biotech company Evaxion Biotech A/S (EVAX) announced Tuesday that the U.S. Food and Drug Administration or FDA, determined that the Company may proceed with its Phase 2b clinical trial of EVX-01.
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Piedmont Lithium Amends Deal With Tesla To Supply Spodumene Concentrate From North American Lithium
Piedmont Lithium (PLL, PLL.AX) announced Tuesday that it has amended its agreement with Tesla, Inc. (TSL) to supply the U.S. automaker with spodumene concentrate or SC6, from North American Lithium or NAL.
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UK Unveils Cost Of Living Support To Low Income Households
The British government is set to start paying out the cost of living support of up to GBP 900 to low income households in the Spring, a plan than was initially announced by the Chancellor Jeremy Hunt in the autumn statement. The Department of Work and Pensions said on Tuesday that the cost of living payment for means-tested benefit claimants will go direct to bank accounts in three disbursements
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