Five Things You Need to Know to Start Your Day: Europe
Get up to speed with what the markets are monitoring
Good morning. Chinese stocks surge again as the government unveils more stimulus. Altice France is in talks to raise new debt. And Europe’s commercial property may be about to rebound. Here’s what people are talking about.
Chinese stocks extended this week’s gains Friday as the government cut the amount of cash banks must keep in reserve and lowered a key policy rate, part of a stimulus package that aims to shore up the slowing economy. For Bernard Arnault, who entered Thursday having lost more wealth this year than any other billionaire, the moves delivered a welcome surge in his net worth. For billionaire investor David Tepper the stimulus measures mean it’s time to buy more of “everything” related to China. And Scott Rubner, managing director for global markets at Goldman Sachs Group, says Chinese shares should be a key part of investors’ plans once the US election is over.