Markets lifted by economic recovery hopes – business live

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Rolling coverage of the latest economic and financial news

8.44am BST

Asia-Pacific stock markets have already posted gains this morning.

The pick-up in Chinese factory gate inflation, and Donald Trump’s move to unilaterally extend jobless benefits, both lifted shares in the region.

The main development over the weekend was the decision by President Trump to sign four executive orders to provide more fiscal support for the US economy after the Republicans and Democrats failed to reach a bipartisan agreement. The executive orders include extending enhanced unemployment benefits at $400 per week which is a reduction from recent support at $600 per week….

The fresh stimulus provided by President Trump through executive orders is better than none at all and provides a stop gap solution. Pressure remains though on both the Democrats and Republicans to reach a more substantial and durable compromise solution.

8.23am BST

Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.

China inflation data in July: CPI: 0.6%M, 2.7%Y, core: 0.5%Y, and PPI: -2.4%Y (June: -3.0%Y), #pork prices rose 85.7% on a yearly basis, chart @economics https://t.co/BuDChsgBij pic.twitter.com/I76AH4g2SD

The data adds to mounting evidence that the economic recovery in China is not only solid, but also gaining momentum, boosting optimism that the world’s second largest economy will offer serious support to the global economic recovery.

Related: Trump pledges executive orders to extend Covid relief, but offers few details

FTSE Rallies On Global Economic Recovery Optimismhttps://t.co/JlDig2YeBA pic.twitter.com/Gs7NySo6O5

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