European markets’ best run in two years; UK jobless rate falls; US retail sales disappoint – as it happened | Business

Time to wrap up

European stock markets have racked up their longest winning streak since April 2019, as optimism over the economic recovery continues to lift shares.

London’s market also saw gains, with the FTSE 100 finishing at its highest close in almost 16 months. But shares in mining companies, and property companies dipped.

The pound nudged a one-month low, after the ending of lockdown restrictions was postponed by a month.

Oil also pushed higher, with Brent crude hitting $74 per barrel tonight, the first time in over two years.

But investor Michael Burry gave the markets something to ponder – tweeting that we’re in the biggest speculative bubble ever.

Cassandra
(@michaeljburry)

People always ask me what is going on in the markets. It is simple. Greatest Speculative Bubble of All Time in All Things. By two orders of magnitude. #FlyingPigs360


June 15, 2021

The day began with the UK’s…

Read full article…www.theguardian.com