All the day’s economic and financial news, including new GDP figures from France, and a healthcheck on eurozone companies * Latest: Eurozone private sector posts strongest quarter in six years * France’s growth rate revised up * Business investment boosts French growth * Job creation hits 10-year high * The agenda: Eurozone PMIs and Canadian inflation 11.21am BST ATTENTION, EUROZONE CRISIS WATCHERS. THE BBC WORLD SERVICE COVERING THE GREEK DEBT CRISIS, LOOKING AT THIS MONTH’S BAILOUT AND THE LONG-TERM COST OF AUSTERITY It includes contributions from our Athens correspondent Helena Smith, and is being streamed here: Greece has been through dark economic times over the past decade. Last week a European Union loan of 8.5bn Euros enabled Greece to meet its latest debt payments. The IMF says this deal will help Greece stand on its own feet again over the course of the next year. But after the years of austerity and hardship, do the Greek people believe this will do anything to improve their lives? For Newshour Extra this week, Owen Bennett Jones is in Athens to discuss the consequences of living with long-term austerity and the prognosis for economic recovery. 11.13am BST BACK ON THE BREXIT ANNIVERSARY....ANALYSTS ARE POINTING OUT THAT THERE’S A NOTABLE SHIFT BETWEEN THE FORTUNES OF UK-FOCUSED COMPANIES, AND THOSE WITH AN INTERNATIONAL OUTLOOK. Those multinational firms have enjoyed a real surge in their value, up 28% in the last year, as the weak pound boosts the value of their overseas earning. “The KPMG Non-UK 50, which represents the largest companies with more than 70% of their market outside the UK, is up a remarkable 28% since the EU referendum - significantly outperforming the world’s largest indices, while the FTSE 100 climbed 17% over the same period. In contrast, the KPMG UK50, which represents the largest FTSE companies with over 70% of their market in the UK, is down 5%. Put in pounds and pence, this equates to a £330 billion rise in the value of the KPMG Non-UK50 and a £19 billion loss for their domestic equivalent. A year since Brexit: #FTSE winners and losers pic.twitter.com/TwnI2E5GRG Three stocks really driving the FTSE - HSBC, BATS and Shell make up fifth of the index by weighting and behind over a third of gains pic.twitter.com/UjN45XNIj4 Continue reading...
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