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Business news: Unilever stock price falls, US markets closed

14:30, 17 January 2022

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A picture of a Unilever logotype on the top of an office building
Unilever stock price fell 6% as it announced its intention to continue to pursue GlaxoSmithKline’s (GSK) consumer health venture with Pfizer – Photo: Shutterstock

Key points

US markets were closed on Monday as the country focused on Martin Luther King day, an annual holiday in America.

China announced its economy rebounded last year with 8.1% growth, the best it has seen in a decade, according to reports.

An internal investigation at the Swiss bank Credit Suisse, has forced its chairman Sir António Horta-Osório to quit, just three months after launching a brand new strategy.

Just as the US reports its inflation data, the UK is also getting ready to publish its employment data, as well as retail sales and Markit Service PMI in the UK. Investors believe this latest information will indicate whether monetary policy should be tightened at a quicker pace.

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Top business and economic news today

Unilever stock price fell 6% today as it announced its continued intention to pursue GlaxoSmithKline’s (GSK) consumer health venture with Pfizer.

The company said the management and board of Unilever “remain focused on continuing to build momentum across the business and reshaping the company for a strong and sustainable future”.

Markets today

  • Stocks: European stock prices rebounded from Friday’s losses today, as investors awaited the US Federal Reserve meeting next week.
  • Oil: Oil prices remained steady today as investors forecast that global supply would continue to be tight.
  • Gold: Gold prices held their ground today amid speculation that the Fed will tighten monetary policy.
  • Forex: The dollar moved higher today as the market awaited potential Fed tightening plans.
  • Crypto: Bitcoin was down by 1.34% and ethereum fell 2.48% today.  

What to watch this week

  • UK employment and retail data are expected this week. 

Read more: Are housebuilders set to benefit from a strong market in 2022?

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