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GDP data 'clearly disappointing,' Finance Minister Reeves says
Rachel Reeves, UK Finance Minister, speaking on CNBC's Squawk Box outside the World Economic Forum in Davos, Switzerland on Jan. 22, 2025.
Gerry Miller | CNBC
U.K. Chancellor Rachel Reeves said the latest monthly GDP print was "clearly disappointing" after data showed the economy shrank 0.3% contraction in April, on a monthly basis.
"Our number one mission is delivering growth to put more money in people's pockets through our Plan for Change, and while these numbers are clearly disappointing, I'm determined to deliver on that mission," she said in a statement out Thursday.
Reeves said the spending review she delivered to lawmakers on Wednesday, in which she laid out expenditure and investment plans for all government departments for the next few years, showed the Treasury was ambitious to deliver jobs and growth.
"Whether that's improving city region transport, a record investment in affordable homes or funding Sizewell C nuclear power station. We're investing in Britain's renewal to make working people better off," she commented Thursday.
— Holly Ellyatt
UK economy dips to cooler-than-expected 0.3% in April
The White Lion pub seen at Covent Garden, UK.
SOPA Images | LightRocket | Getty Images
Tariffs are now the biggest macroeconomic concern for two in three investors
Mounting trade tensions and tariffs have become the single biggest worry for global investors, overshadowing all other economic risks, a new survey shows.
Nearly two-thirds (63%) of institutional investors and wealth managers identified trade levies as the most significant macroeconomic concern impacting their strategy, according to a survey published by British investment manager Schroders.
Global market confidence in U.S.-China trade talks progress falters
Traders work at the New York Stock Exchange on June 11, 2025.
Brendan McDermid | Reuters
What to keep an eye on today
CNBC's coverage of the VivaTech summit in Paris continues on Thursday. We'll be reporting from Goldman Sachs' annual European Financials Conference in Berlin too.
Shoppers queue to pay for their shopping in the Tesco Extra superstore on April 20, 2009 in New Malden, Surrey, England.
Oli Scarff | Getty Images News | Getty Images
On the data front, the U.K.'s monthly gross domestic product print is due Thursday morning, and earnings are set to come from retail giant Tesco.
— Holly Ellyatt
Here are the opening calls
England, London, Docklands, River Thames and Canary Wharf Skyline at Dawn.
Dukas | Universal Images Group | Getty Images
Welcome to CNBC's live blog covering European financial market action and the latest regional and global business news, data and earnings.
Futures data from IG suggests London's FTSE will open 33 points lower at 8,838, Germany's DAX down 189 points at 23,783, France's CAC 40 down 44 points at 7,732 and Italy's FTSE MIB 282 points lower at 39,858.
— Holly Ellyatt
English (US)