Daily Round-Up: Eurozone output up, oil down, Anbang in hotel deal

Eurozone industrial output into positive territory

Eurozone industrial output rose by 2.1 percent in January, after a sharp increase in production from Ireland pushed the figure up to its highest rate in over six years.

The 2.1 percent figure was well above the negative readings produced in both in November and December.

Output was driven by a 12.7 percent increase in Irish industrial output, as well as strong growth in capital goods. However, analysts countered these figures with warnings that growth is unlikely to be sustained at this rate.

Oil down on Iran dispute

Oil prices fell around 3 percent on Monday, bringing prices down from last weeks highs after Iran said it would be unlikely to join in any production agreement in the near future.

WTI Crude is currently trading at $38.50 per barrel, with Brent up slightly this afternoon at $40.39 (1556GMT).

Chinese Anbang buys US hotels from Blackstone

Chinese insurer Anbang has agreed to buy Strategic Hotels & Resorts, the US luxury hotel chain that owns several Four Seasons resorts, for $6.5 billion.

Its current owners, equity giants Blackstone, are selling the group just three months after buying it themselves in a deal set to become the biggest US property purchase by a mainland Chinese buyer.

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