European shares extended gains for the fifth consecutive session on Tuesday, supported by the mining and defense sectors, although fears of a possible recession limited the pace of the indices’ upside.<\/p>\n\n\n\n
An internal European Union document shows the bloc plans to fivefold financial support for an African military mission in Mozambique, at a time when Islamist attacks threaten gas projects that are supposed to reduce the bloc’s dependence on Russian energy resources.<\/p>\n\n\n\n
The leading Swedish furniture maker has decided to liquidate its Russian unit, Ikea Dome, to further reduce its operations after more than a decade of starting its presence in the country, a record showed on Tuesday.<\/p>\n\n\n\n
Dozens of brands suspended operations in Russia after Moscow sent tens of thousands of troops to Ukraine on February 24. Companies such as H&M, IKEA and Nike were among the companies that announced plans for a permanent exit from the Russian market.<\/p>\n\n\n\n
Ikea, the world’s largest furniture brand, closed its stores in March and said it would sell factories, close headquarters and cut its 15,000-strong workforce in Russia.<\/p>\n\n\n\n
Energy shortages due to the Ukraine war have added impetus to Europe’s quest for gas off the northern coast of Mozambique, where Western oil companies plan to build a massive liquefied natural gas terminal.<\/p>\n\n\n\n
Inflation in Canada, as measured by the Consumer Price Index (CPI), declined to 7.6% on a yearly basis in July from 8.1% in June, the data published by Statistics Canada revealed on Tuesday. This print came in line with the market expectation.\u00a0<\/p>\n\n\n\n
The Bank of Canada’s (BOC) Core CPI, which excludes volatile food and energy prices, edged lower to 6.1% from 6.2% in the same period, compared to analysts’ estimate of 6.7%.<\/p>\n\n\n\n
The data published by the US Federal Reserve showed on Tuesday that Industrial Production rose by 0.6% on a monthly basis in July. This print came in better than the market expectation for an expansion of 0.3%. In the same period, Manufacturing Production increased by 0.7% after having contracted by 0.4% in each of the previous two months.<\/p>\n\n\n\n
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