DAX Drifts Lower As Investors React To Results, Geopolitical News

RTTNews | 1 dia atrás

(RTTNews) - The German market is showing weakness on Thursday, as investors remain cautious, reacting to a slew of earnings announcements, and continuing to watch the developments on U.S.-China trade front, as well as news from the geopolitical front.

EU countries today formally adopted a 19th package of sanctions against Russia for its war against Ukraine that includes a ban on Russian liquefied natural gas imports.

"It's a significant package that targets main Russian revenue streams through new energy, financial, and trade measures," the Danish rotating presidency of the EU said.

The benchmark DAX was down 100.32 points or 0.42% at 24,057.45 a little while ago.

SAP is down 2.5%. On Wednesday, the company announced that it posted earnings of EUR2.051 billion, or EUR1.71 per share, in the third quarter of the current financial year, compared with EUR1.441 billion, or EUR1.24 per share in the year-ago quarter.

Infineon Technologies is down 1.8% and Heidelberg Materials is losing about 1.7%. Vonovia, Brenntag, Merck, Siemens, GEA Group, Fresenius Medical Care, Deutsche Post, E.ON, Siemens Healthineers and RWE are down 0.7 to 1.25%.

Siemens Energy is gaining 2.7%. MTU Aero Engines, Rheinmetall, Mercedes-Benz and Fresenius are up 1 to 1.5%.

Commerzbank, Volkswagen, Deutsche Boerse and BMW are up 0.4 to 0.75%.

MTU Aero Engines is rising 1.5% on higher earnings. The aircraft engine manufacturers reported a net income of EUR 250 million, or EUR 4.63 per share, for the third quarter, compared to EUR 211 million, or EUR 3.90 per share, in the year-ago quarter.

The company now anticipates a mid-twenties percentage increase in adjusted EBIT for 2025, hitting the upper end of the previous guidance range, and free cash flow of between 350 million euros and 400 million euros.

Beiersdorf is up nearly 1%. The company's total sales in the third quarter were 2.35 billion euros, a drop of 0.9% from last year, but a growth of 1.7% organically.

Rheinmetall, Mercedes-Benz and Fresenius are up 1 to 1.25%. Commerzbank, Volkswagen, Deutsche Boerse and Deutsche Bank are up with modest gains.

European Stocks Close Higher After Cautious Session

Despite struggling for support till mid afternoon, European stocks edged higher on Friday after cooler-than-expected U.S. consumer price inflation raised prospects of an interest rate cut by the Federal Reserve next week.

RTTNews | 31 minutos atrás

U.S. Consumer Sentiment Deteriorates More Than Previously Estimated In October

Revised data released by the University of Michigan on Friday showed consumer sentiment in the U.S. deteriorated by more than initially estimated in the month of October. The University of Michigan said its consumer sentiment index was downwardly revised to 53.6 from the preliminary reading of 55.0. Economists had expected the consumer sentiment index to be unrevised from the preliminary reading.

RTTNews | 3h 25min atrás

U.S. Consumer Prices Rise 0.3% In September, Slightly Less Than Expected

A closely watched report released by the Labor Department on Friday showed consumer prices in the U.S. increased by slightly less than expected in the month of September. The Labor Department said its consumer price index rose by 0.3 percent in September after climbing by 0.4 percent in August. Economists had expected consumer prices to rise by another 0.4 percent.

RTTNews | 4h 8min atrás

Eurozone Private Sector Growth At 17-Month High

The euro area private sector growth accelerated to a 17-month high in October as new orders registered a steeper growth despite continuing fall in business from abroad. The flash HCOB composite output index climbed unexpectedly to 52.2 in October from 51.2 in September. The reading was expected to fall to 51.0.

RTTNews | 4h 25min atrás

Bay Street Likely To Open With Positive Bias

Higher Canadian and U.S. futures, firm crude oil prices and data showing a smaller than expected increase in U.S. consumer price inflation in the month of September suggest a positive start for the Canadian market on Friday.

RTTNews | 4h 58min atrás

U.S. Consumer Prices Rise Slightly Less Than Expected In September

A closely watched report released by the Labor Department on Friday showed consumer prices in the U.S. increased by slightly less than expected in the month of September.

RTTNews | 5h 21min atrás

FTSE 100 Retreats After Positive Start

U.K. stocks opened on a positive note Friday morning after data showed an unexpected increase in UK retail sales in September. However, the market turned a bit easy subsequently, due largely to selling in some mining stocks as metal prices dropped from record highs.

RTTNews | 6h 28min atrás

Pound Falls Against Majors

The pound weakened against other major currencies in the European session on Friday.

RTTNews | 6h 49min atrás

EURUSD	1.16269	GBPUSD	1.33028	AUDUSD	0.65088
USDJPY	152.799	USDCAD	1.40073	USDCHF	0.79547