DAX Climbs As Business Activity Returns To Growth
(RTTNews) - German stocks climbed on Tuesday after a preliminary survey showed private sector activity in the country unexpectedly returned to growth in April as the services sector outperformed.
The HCOB German Flash Composite Purchasing Managers' Index (PMI), compiled by S&P Global, rose to 50.5 from 47.7 in March - clinching a ten-month high.
Expectations of interest rate cuts by the European Central Bank and the Bank of England also helped underpin investor sentiment.
The benchmark DAX was up 125 points, or 0.7 percent, at 17,985 after rising 0.7 percent in the previous session.
SAP AG shares surged 4 percent. The software maker reaffirmed its outlook for 2024 after Q! cloud revenue increased 24 percent to 3.93 billion euro.
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Swiss Market Ends On Firm Note
The Switzerland market ended on a firm note on Friday, after staying positive right through the day's session thanks to some encouraging earnings updates, and easing worries about the outlook for interest rates.
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6h 13min ago
U.S. Dollar Lower As Soft Jobs Data Lifts Rate Cut Hopes
The U.S. dollar fell against its major counterparts in the New York session on Friday, as weaker-than-expected jobs data for April boosted hopes of a rate cut by the Federal Reserve in September.
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6h 26min ago
European Stocks Close Higher As Investors React To Earnings, Economic Data
European stocks closed higher on Friday, reacting to corporate earnings updates, regional economic data, and U.S. non-farm payroll data for the month of April.
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6h 30min ago
Canadian Market Firmly Up In Positive Territory
The Canadian market is modestly higher in late morning trades on Friday, lifted by gains in healthcare, real estate, communications and utilities sectors.
Strong results from iPhone maker Apple Inc., and slightly easing concerns about the outlook for interest rates after the latest batch of economic data from the U.S. help underpin sentiment.
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7h 18min ago
U.S. Service Sector Activity Contracts For First Time Since December 2022
After growing for fifteen consecutive months, U.S. service sector activity unexpectedly contracted in the month of April, according to a report released by the Institute for Supply Management on Friday. The ISM said its services PMI dipped to 49.4 in April from 51.4 in March, with a reading below 50 indicating contraction. Economists had expected the index to inch up to 52.0.
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8h 37min ago
Eurozone Unemployment Rate Steady At 6.5% For Fifth Month
Euro area jobless rate remained unchanged at a record low for the fifth month in a row in March and the unemployment decreased, while a tight labor market could urge the European Central Bank to remain cautious even as policymakers gear up for an interest rate cut in June. The seasonally adjusted unemployment rate was 6.5 percent in March, which is the same level as in the previous four months.
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8h 54min ago
U.S. Services PMI Unexpectedly Indicates Contraction In April
After growing for fifteen consecutive months, U.S. service sector activity unexpectedly contracted in the month of April, according to a report released by the Institute for Supply Management on Friday.
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8h 59min ago
U.S. Job Growth Falls Short Of Estimates In April, Unemployment Rate Ticks Higher
After reporting stronger than expected job growth over the past several months, the Labor Department released a report on Friday showing employment in the U.S. increased by much less than expected in the month of April. The Labor Department said non-farm payroll employment climbed by 175,000 jobs in April after surging by an upwardly revised 315,000 jobs in March.
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9h 44min ago
