* Dow Jones Industrial Average hits 21,000 for first time * German inflation rate rises about ECB’s 2% eurozone target * FTSE 100 heads towards new peak * UK manufacturing slightly weaker than expected * Eurozone factory activity boosted by weak euro * Federal Reserve comments raise rate hike expectations * Trump speech calms markets 2.33pm GMT As investors react favourably to Donald Trump’s address to Congress, US markets have followed the lead from their counterparts elsewhere and opened in a positive mood. The Dow Jones Industrial Average has jumped above 21,000 for the first time, adding 201 points or 0.95% to 21,013 while the S&P 500 rose 0.79% and the Nasdaq Composite 0.85% at the open. 2.15pm GMT Over in Greece a 24-hour strike by transport workers has unleashed traffic chaos in Athens and put further pressure on the leftist-led government as creditors step up demands for a new package of cuts worth 2% of GDP. Helena Smith reports: As spring approaches, public sector workers are stepping up pressure on prime minister Alexis Tsipras’ government with increased industrial action. After seeing the Acropolis closed by protesting guards last week, Greeks woke up to a 24-hour hour strike by metro, tram and urban rail employees across the capital today. Workers, who will stage a similar walkout on Friday, are up in arms over legislation allowing the cash-starved Athens transport organisation (OASA) to make commercial use of stations. Arguing that the law is the first step to privatization, they claim it will ultimately undermine the public character of the transit network and hurt consumers. Protests against further pension cuts have also been announced by doctors working in state-run hospitals with a nationwide 24-hour walk-out planned tomorrow. In a proclamation released at lunchtime, the Panhellenic Doctors Association called on medics in the public and private sector to participate in the mass display of opposition against reduced pensions and increased contributions. The decision to unify pension funds would, they said, only exacerbate the paring back of desperately needed resources for the health sector. At 11%t of GDP, the IMF argues that Greece spends more on pensions than almost any other state. The protests come as Greek officials spoke of a wealth of differences with creditors who this week resumed stalled bailout negotiations in Athens. Acknowledging that headway had yet to be made on the counter measures the government hopes to install to offset the impact of further tax and pension reforms, the Greek finance minister Euclid Tsakalotos told parliament on Tuesday that nothing was agreed until everything was agreed and that austerity was far from over. Continue reading...
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