Petrol and diesel retailers pump up profit margins; Europe approves Microsoft’s $69bn Activision Deal – as it happened
Fuel margins have increased across the retail market, but in particular for supermarkets, over the past four years, says competition watchdog
Europe's economy is benefitting from the decline in energy prices, commissioner Paolo Gentolini explains.
The fall in energy commodity prices has helped push up today's growth forecasts.
Wholesale prices of gas and electricity in the EU have come down significantly from the peaks of last year, and continued declining even after the winter forecast.
Thanks to effective diversification of supply and a sizeable fall in consumption - also supported by mild winter temperatures - the major concern for the European economy, that is a disruptive shortage of gas supply, did not materialise.
Futures prices for 2023 and 2024 have declined as well. As the EU approaches the gas-refilling season, gas storages are at comfortable levels and risks of shortages have considerably abated.
It expanded in the first quarter and is set to continue growing moderately.
Second, the key factors underpinning this forecast go in opposite directions: on the one hand, declining energy prices and a resilient labour market and, on the other hand, tightening financial conditions.
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