Global Markets Overview: A recovery in risky assets is running out of steam, as optimism about stronger company earnings wanes and fears that growth may ease are on the rise
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Risky assets struggle to extend rise
UK retail sales rise sharply in June
Volumes rise with a boost from the World Cup, sunny weather and shops holding down prices
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Beijing allows modest rise in renminbi
The Chinese currency is permitted to appreciate modestly in the first day of trading since the announcement of an end to the near-two-year currency peg with the US dollar
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China tempers hopes for renminbi rise
China’s central bank said there would be no significant appreciation in the renminbi against the US dollar and that the exchange rate would remain “basically stable”
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Israeli fears rise over deeper isolation
The international condemnation that has broken over Israel since the attack on the Gaza aid convoy has heightened fears that the nation is slipping into deeper diplomatic isolation
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Selling likely ahead of capital gains tax rise
Private investors are expected to start selling shares and second homes in the coming days, in an attempt to take their profits before capital gains tax is increased in the coalition government’s first Budget
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Credit cards rewards on the rise
Credit cards rewards on the rise
Credit card holders have faced rising interest rates, new and higher fees, and fewer rewards programs during recent economic turmoil.
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