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Walt Disney shares jumped as they announced that they
are bringing back Bob Iger, its veteran former chief executive, less than a
year after he retired. He replaces Bob Chapek,
who has left with immediate effect just 33 months into the role.
Iger was chief executive of the US entertainment giant for
15 years, overseeing a period of significant growth, including the acquisitions
of Pixar, Marvel, Lucasfilm and 21st Century Fox.
He eventually stepped down as chief executive in February
2020 but stayed on throughout 2021 to help with the transition.
UK & European markets were muted as investors
continued to assess inflationary pressures and the possible trajectory of
central bank interest rates.
US stocks have moved mostly lower in morning trading,
giving back ground after ending last Friday's choppy session mostly higher.
Oil prices slumped to their lowest level since before
the war in Ukraine after Saudi Arabia and other Opec countries were reported to
be discussing an output increase alongside China tightening its Covid-restrictions,
hurting the outlook for demand.
Gold prices slipped to their lowest in over a week on
Monday as the dollar extended gains.
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