World Bulletin / News Desk
Optimism among UK businesses slumped to a 20-year low last month, according to a survey by accountancy group BDO.
BDO's Optimism Index, which measures business performance expectations two quarters ahead, fell to 89.1 in August from 93.1 in July, the sixth consecutive month showing a drop, BDO said in a statement. Figures above 95 indicate a return to growth.
Meanwhile, BDO's Output Index, which measures short-term turnover expectations, fell to 90.8 in August, its lowest level in 40 months, from 93.9 in July.
The survey comes as Britain's economy, facing headwinds from the euro zone debt crisis and the government's tough austerity plans, struggles to emerge from the recession it slipped back into late last year.
Data on Friday showed British industrial output grew at its fastest pace in 25 years in July, while the National Institute of Economic Research said Britain's economy grew in the three months through August.
"The government's efforts to cut current spending may not be working out quite as planned, though we believe that the strategy in essence remains correct," said BDO partner Peter Hemington.
"But we have long been concerned that the cuts to investment spending were too drastic and that steps to redress this have been taken too slowly. We welcome positive signs that the government now wishes to boost its investment in UK infrastructure."
BIST 100 index rises 0.44 pct while US dollar/Turkish lira rate falls to 3.49
The day before, the dollar had rallied against both main rivals and the Dow reached a fresh record high after the US central bank kept alive the chance of a December increase in American borrowing costs.
Monthly index sees decline of 3.4 pct, according to Turkish Statistical Institute
BIST 100 index decreases 0.31 pct while US dollar/Turkish lira rate rose to 3.51
Frankfurt equities sagged despite a rally for shares in German heavy industry giant ThyssenKrupp, which announced a deal with Indian group Tata to merge their steel operations in Europe.
BIST 100 index drops 0.02 pct while US dollar/Turkish lira rate stands over 3.48
The move was seen as a bid to weather US-imposed sanctions on the embattled country.
Regulators decided in May to fine Banco Popolare di Vicenza a total of 11.2 million euros ($13.4 million), the ECB said in a press release.
BIST 100 index rises slightly 0.09 pct while US dollar/Turkish lira rate falls to 3.43
BIST 100 index rises 0.10 pct while US dollar/Turkish lira rate stands around 3.46
Borsa Istanbul's BIST 100 index goes down 0.89 pct at close, USD/TRY rate stands around at 3.44