Stock gains...Investor optimism slips...British inflation
SEOUL, South Korea (AP) — International stock markets were higher today as investors brushed off a second straight session of big losses for tech stocks on Wall Street a day before the Federal Reserve is expected to raise interest rates. Futures point to modest opening gains on Wall Street. Benchmark U.S. crude oil rose but remains below $46.50 per barrel. The dollar gained against the yen and weakened against the euro.
FRANKFURT, Germany (AP) — A German index of economic optimism among investors fell in June despite improving growth prospects for the country and its trading partners in the 19-country eurozone. The ZEW indicator of economic sentiment dipped to 18.6 points, down 2.0 points from May, and remains below its long-term average of 23.9 points. That’s despite a strengthening and broadening recovery that saw the eurozone record a 0.5 percent increase in output in the first quarter.
LONDON (AP) — The inflation rate in Britain has risen to its highest level in four years, as the drop in the pound since the Brexit vote pushes up the cost of living. The Office for National Statistics said Tuesday that consumer prices were up 2.9 percent on the year in May, from 2.7 percent in April. That was mainly due to rising prices for recreational and cultural goods and services, such as games, toys and hobbies.
SEOUL, South Korea (AP) — Hyundai Motor Co. is playing catch-up in the fast-growing sport utility vehicle market with its first subcompact SUV targeting Europe and North America. The South Korean automaker said Tuesday that the Kona will go on sale this month in South Korea before it launches in Europe and North America. Hyundai Motor has long focused on the Sonata and other sedans, which helped build it a reputation in the West as a maker of cars that are excellent value.
NEW YORK (AP) — More than half of the midsize SUVs tested by an insurance industry group were found to have unsafe headlights that did not light up the road far enough or caused glare for oncoming drivers. The Insurance Institute for Highway Safety said Tuesday that it tested 37 midsize SUVs and only two received a “good” rating: the 2017 Volvo XC60 and 2017 Hyundai Santa Fe. Twelve were rated “acceptable,” 12 others were rated “marginal” and 11 were rated “poor.” The 2017 Kia Sorento, which received a “poor” rating, had the worst visibility. Other 2017 vehicle models with “poor” ratings include the Jeep Wrangler, Dodge Journey and the Ford Edge and Explorer.