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British consumer morale rocketed back to pre-Brexit levels in September, a survey found, confounding expectations that the vote to leave the EU would wreak more lasting damage on Briton's willingness to spend. Market research firm GfK's gauge of consumer confidence suffered its sharpest drop in over 26 years in July as economists said Brexit would pitch the economy into recession, but data suggests Britain has avoided a rapid slump. The GfK index, based on an online poll of 2,000 people, rose to -1 in September from -7 in August - the biggest increase since June last year and restoring levels seen in the months before the June 23 referendum.
Asian stocks extended losses on Friday as worries about the health of Deutsche Bank weighed on financial shares and as oil prices inched back from near-one month highs on scepticism over OPEC's new plan to curb output. MSCI's broadest index of Asia-Pacific shares outside Japan lost 1 percent and was on track for a 0.9 percent drop for the week. On Thursday, Wall Street lost about 1 percent as Deutsche Bank shares slumped to a record low after a report that trading clients had withdrawn excess cash and positions held in the largest German lender.