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Markets nervously await Lagarde’s interest rate decision

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ECB’s interest rate decision

The European Central Bank (ECB)’s decision on whether they’ll  opt to hike interest rates for the 10th time in a row, is due today. Economists are really on the fence about the potential of this decision, with almost 50% believing that they will opt for another hike, and the remaining 50% believing that they will decide to take a pause. Either way, it’s still agreed that the Euro will likely continue its eight week losing streak to the US dollar, which is unlikely to be the news that the ECB would want. 

BP’s CEO steps down

Bernard Looney, CEO of the oil giant BP (LON:BP) since 2020, announced yesterday that he would be stepping down after allegations of undisclosed personal relationships within the firm were incorrectly reported. Whilst the share price remained relatively untouched, many fear that the abrupt change could affect both the longer term net zero plans, which were almost entirely driven by Looney, as well as questions around the culture at the company. 

Trainline shares surge on market opening

Trainline (LON: TRN), the UK-based digital rail platform, saw shares surge by nearly 10% as the markets opened this morning, following a healthy earnings report. They noted a 23% rise in profits for the first half of the year, having profited on the back of a return to post Covid-19 travel. Whilst the UK has been disrupted by ongoing rail action and strikes, the inclusion of Italian and Spanish train tickets on their platform has helped to boost profits, much to the delight of shareholders. 

Sources: BBC, Bloomberg, Nasdaq, Financial Times, Yahoo Finance

Zoe Burt