World stocks mostly lower…eviction moratorium ending
(BA)NGKOK (AP) — World shares are mostly lower today despite a flurry of reports showing economic recoveries from the pandemic gained pace in the last quarter. In early trading, Germany’s DAX dropped 0.8% and the CAC 40 in Paris edged 0.1% lower. Britain’s FTSE 100 declined 0.8%. In Asian trading, Tokyo’s Nikkei 225 closed 1.8% lower while the Kospi in Seoul gave up 1.2%. The Hang Seng in Hong Kong declined 1.4% and the Shanghai Composite index dropped 0.4%. On Wall Street, S&P 500 futures are down 0.7%. Dow futures are down 0.3%.
BOSTON (AP) — The Biden administration will allow a nationwide ban on evictions to expire Saturday. The end of the moratorium comes as advocates and some lawmakers call for it to be extended in the face of rising coronavirus cases and the sluggish pace of distributing rental assistance. Dr. Rochelle Walensky, director of the Centers for Disease Control and Prevention, said in June this would be the last time the moratorium would be extended when she set the expiration for July 31.
FRANKFURT, Germany (AP) — Europe’s economy has rebounded into growth in the second quarter. But it lagged pre-pandemic levels and trailed the faster recoveries in the U.S. and China with the delta variant continuing to cast a shadow of uncertainty over the upturn. Official figures show that gross domestic product grew 2% in the April-June quarter over the quarter before. That compared to a drop of 0.3% in the first quarter as the 19 countries that use the euro endured a double-dip recession.
THE HAGUE, Netherlands (AP) — French-Dutch airline group Air France-KLM says that the “first signs of recovery are visible” in bookings amid easing pandemic travel restrictions. The aviation group sounded the note of cautious optimism today as it reported a second-quarter net loss of nearly 1.5 billion euros ($1.8 billion). The group’s fleet of planes, carried just over 7 million passengers in the year’s second quarter. That’s a rise of 477% compared to the same quarter last year.
BERLIN (AP) — German beer sales in this year’s first half were 2.7% lower than a year earlier. They were dragged lower by closures of bars and restaurants that stretched through winter and into spring. The Federal Statistical Office says that German-based breweries and distributors sold about 4.2 billion liters (1.1 billion gallons) of beer from January to June. That figure doesn’t include alcohol-free beer or beer imported from outside the European Union. Domestic sales dropped 4.9% compared with the first half of 2020 to 3.3 billion liters (872 million gallons). First-half exports were higher in contrast. There was a 3.5% increase in exports to other EU countries and an 11.9% jump in sales to nations outside the EU.