Mon. Sep 21st, 2020

Saudi Aramco IPO: Oil giant nears $2trn valuation despite climate fears – business live

Aramco, the world’s biggest Co2 producer, is now world’s largest listed company after floating today

1.38pm GMT

NEWSFLASH: US inflation has hit its highest level in a year.

Consumer prices rose by 2.1% per year in November, up from 1.8% in October, partly due to rises in energy, rent and gasoline bills.

INFLATION WATCH: U.S. consumer prices rise 0.3% in November. Core CPI (minus food & energy) up 0.2%. Yearly increase in overall CPI climbs to 2.1% from 1.8%. Highest in a year. Core rate flat at 2.3%. Inflation bubbling higher?

1.17pm GMT

Pre-election jitters also appear to be hitting UK stocks.

The FTSE 250 index of medium-sized listed companies is down 1% today, with every sector in the red. It’s a better barometer of UK economic prospects than the FTSE 100 (which is broadly unchanged today).

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