DAX Gains As Business Sentiment Improves
(RTTNews) - German stocks traded higher on Wednesday after survey data from the ifo Institute showed business sentiment in the country improved in April.
The business confidence index climbed to 89.4 in April while economists had forecast the score to rise moderately to 88.9 from March's initially estimated value of 87.8.
The benchmark DAX was up 61 points, or 0.3 percent, at 18,199 after surging 1.6 percent the previous day.
Tech stocks advanced, with Infineon Technologies rising about half a percent.
Banks Commerzbank and Deutsche Bank were seeing modest gains.
Biotech Evotec SE slumped 32 percent after reporting its full-year results and naming a new chief executive.
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China Service Sector Growth Moderates In April
China's service sector continued to expand in April but the pace of growth moderated slightly, survey results from S&P Global showed on Monday. The Caixin services Purchasing Managers' Index fell to 52.5 in April from 52.7 in the previous month. A reading above 50.0 indicates expansion in the sector. The official PMI survey results also showed that the private sector growth moderated in April.
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5h 14min ago
Yen Reverses Against Majors
The Japanese yen reversed from early gains against other major currencies in the Asian session on Monday, although the Japanese stock market is closed for Children's Day holiday on the day.
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5h 38min ago
Eutelsat Mulls Options For Ground Network
French satellite operator Eutelsat Group confirmed Monday, following recent press speculation, that it is analysing options for its ground network. The company may partner with external infrastructure investors, but the analysis is preliminary in nature at this time. There can be no certainty that it will lead to a specific outcome, the firm noted.
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6h 8min ago
European Economic News Preview: Eurozone Final PMI, Investor Confidence Due
Final composite Purchasing Managers' survey results, investor sentiment and producer prices from the euro area are the top economic news due on Monday. At 3.15 am ET, Spain's services PMI survey results are due. Economists expect the services PMI to fall slightly to 56.0 in April from 56.1 in March.
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6h 35min ago
Hormel Foods Recalls Select Planters Peanuts, Mixed Nuts
Hormel Foods Sales, LLC, affiliated to food processing major Hormel Foods Corp., is recalling a limited number of two Planters nut products citing potential to be contaminated with Listeria monocytogenes, according to the U.S. Food and Drug Administration.
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6h 40min ago
European Shares Seen Up As Weak US Data Revives Fed Easing Bets
European stocks are seen opening on a firm note Monday as weak U.S. data released on Friday fueled bets that the Federal Reserve could start cutting interest rates soon.
The U.S. economic calendar for this week is relatively quiet, potentially shifting the spotlight to earnings news from several big-name companies.
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6h 55min ago
Sensex, Nifty Gain On Global Cues; Kotak Shares Rally Nearly 4%
Indian shares opened on a positive note Monday as disappointing U.S. jobs and services sector data raised hopes that the Federal Reserve could start cutting interest rates soon.
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8h 20min ago
Yen Falls Against Majors
The Japanese yen weakened against other major currencies in the Asian session on Monday.
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8h 37min ago
