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<Europe> German Official Advisors Cut Germany 2026 GDP Growth Forecast; European Stocks Broadly Higher in Early Trade; BP Abruptly Dismisses Chairman
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Markets are monitoring developments in the Iran situation. Major Asia-Pacific equity markets were mixed today (27th). DJIA futures rose 224 points or 0.44%, while S&P 500 futures and Nasdaq futures gained 0.27% and 0.38%, respectively. The German Council of Economic Experts, under the German Chancellor, lowered its 2026 GDP growth forecast for Germany to 0.5%, nearly halving its previous projection of 0.9% made in November last year, in line with the governments latest view. Growth is projected at 0.8% next year. The council also raised Germanys inflation forecasts for this year and next to 3% and 2.8%, respectively. It expects eurozone GDP growth of 0.7% and 1% for this year and next, slightly below the projections made by the European Commission and the European Central Bank in March. The council forecasts eurozone inflation at 3% and 2.6% for this year and next, respectively. Major European stock markets moved broadly higher in early trading today. The pan-European STOXX 600 index rose 0.4% to 630.5. The UK FTSE 100 edged up less than 0.1% to 10,498. Frances CAC gained 74 points or 0.9% to 8,247. Germanys DAX advanced 203 points or 0.8% to 25,386. Italys FTSE MIB climbed 202 points or 0.4% to 50,102. Spains IBEX 35 rose 144 points or 0.8% to 18,435. AkzoNobel, the Danish paints maker and parent of the Dulux brand, surged 16.9% after rejecting a joint EUR73 per share takeover offer from Japans Nippon Paint (4612.JP) and DJIA constituent Sherwin-Williams Company (The) (SHW.US). The board unanimously agreed to continue advancing its merger with Axalta Coating Systems Ltd. Common Shares (AXTA.US). BP fell 1.4% after abruptly dismissing Chairman Albert Manifold, citing serious concerns over his governance standards, oversight and conduct, without providing specific details. Manifold denied any wrongdoing. Senior Independent Director Amanda Blanc said the board was surprised and disappointed upon learning of the issues and took decisive action. Ian Tyler has been appointed interim chairman while a permanent successor is being sought. (da/a) Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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