Tesla’s EU sales slump continues; China’s premier warns global trade tensions ‘intensifying’ – business live

Rolling coverage of the latest economic and financial newsAfter several turbulent sessions, the financial markets seem calm this morning, as the Israel-Iran ceasefire holds.London’s FTSE 100 share index has just opened 0.1% higher, up 10 points at 8768, despite reports that the US bombing of Iran’s nuclear facilities may only have set the nuclear program by a few months.‘’Optimism about the fragile ceasefire holding between Iran and Israel has bubbled through markets, lifting equities, but more doubts are now creeping in about the truce holding.Wall Street rose in a relief wave, pushing the S&P 500 close to record highs. Sentiment has held up in Asia and European indices largely look set for a positive start to trading. Nevertheless, a little more uncertainty is seeping in. A leaked report from US Intelligence casting doubt on the effectiveness of the US strikes in crippling Tehran’s nuclear capabilities, has led to some worries that military action could resume.“There is increasing recognition of the need to invest in defence capability and energy security, both to safeguard populations and to drive economic growth.”“Nations are increasingly focused on securing national sovereignty and industrial resilience, prioritising equipment and infrastructure modernisation, evolving technologies and the need to work in partnership with industry.These trends are likely to drive significant defence spending and increased investment in the civil nuclear sector for the foreseeable future.” Continue reading...

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