Daily News Digest - 5 September

Written by

OvalX team

Published on

September 5, 2022

After the G7 agreed to set effective price caps on Russian oil exports on Friday, Russia responds by shutting the Nord Stream 1 pipeline beyond the three days of scheduled maintenance. This continues its isolation from major international markets as it demonstrates it cannot be relied upon to uphold contracts.

UK housebuilder Vistry announces today that it is to buy rival Countryside in a cash-stock deal worth £1.25bn.

The German market is called to open as much as three percent lower this morning on the Nord Stream news, taking it back to its summer lows and eroding the entire late summer rally.

The US markets are closed today because of the Labor Day holiday.

The US FTC is reportedly looking into Amazon's planned $1.7bn acquisition of robot vacuum maker iRobot Corp because of market competition concerns.

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