Major European Markets Close On Slightly Negative Note

RTTNews | 185 dias atrás
Major European Markets Close On Slightly Negative Note

(RTTNews) - Major European stock markets ended somewhat weak on Monday, as investors digested quarterly earnings updates from big name European and U.S. companies, and looked ahead to the Federal Reserve's monetary policy.

The Fed is widely expected to leave interest rates unchanged, but the accompanying statement and Fed Chair Jerome Powell's post-meeting press conference may shed additional light on the outlook for rates.

Recent economic data has tamped down expectations of a near-term rate cut, with the central bank now seen as likely to leave rates unchanged until at least September.

The pan European Stoxx 600 edged up 0.07%. The U.K.'s FTSE 100 ended 0.09% up, while Germany's DAX and France's CAC 40 ended lower by 0.24% and 0.29%, respectively. Switzerland's SMI ended down 0.11%.

Most of the other markets in Europe ended higher. Austria, Belgium, Finland, Norway, Poland, Portugal, Russia, Sweden and Turkiye closed higher.

Iceland and Spain ended weak, while Denmark, Greece and Netherlands closed flat.

In the UK market, Anglo American Plc gained nearly 4.5%. The company's board has unanimously rejected a US$39Bn takeover bid from Australia-based BHP, saying the offer "significantly undervalues" the company and its future prospects and was "highly unattractive" for Anglo American's shareholders.

Entain, Smith (DS), Frasers Group and Beazley gained 3 to 4.5%.

Prudential, St. James's Place, Smurfit Kappa Group, Airtel Africa, Phoenix Group Holdings, Mondi, Weir Group, Schrodders, Vodafone Group, Admiral Group, Antofagasta and Legal & General advanced 1 to 2.5%.

Astrazeneca gained about 0.7% after the company announced progress with two breast cancer treatments.

JD Sports Fashion ended nearly 3% down. Ashtead Group, B&M European Value Retail, Centrica, Croda International, Natwest Group, IHG, Rolls-Royce Holdings and Relx lost 1 to 2.2%.

In the German market, Fresenius Medical Care rallied about 3.5%. Daimler Truck Holding, RWE, Rheinmetall, Fresenius and Siemens Energy gained 1.5 to 2.7%. Puma, Vonovia, Zalando, Qiagen and HeidelbergCement also ended notably higher.

Deutsche Bank tumbled about 8.6%. The lender has provided updates on the ongoing litigation concerning its acquisition of Postbank, revealing that a legal provision will affect its second-quarter and full-year profitability as well as capital ratios.

The total estimated amount of all claims, inclusive of accumulated interest, stands at about 1.3 billion euros.

Porsche, Commerzbank, Continental, SAP and Merck lost 1.2 to 2.7%.

In Paris, Eurofins Scientific surged nearly 4%. WorldLine, Michelin, Renault, Teleperformance, Alstom, Capgemini, Bouygues, Orange, ArcelorMittal, Engie, AXA and Societe Generale gained 1 to 2.5%.

Hermes International, LVMH, Safran and STMicroElectronics ended notably lower.

In economic news, Euro area economic sentiment deteriorated further in April largely reflecting the difficulties in the industrial sector, survey data revealed.

The economic confidence index dropped to 95.6 in April from 96.2 in the previous month, the European Commission said. The expected reading was 96.9.

The economic sentiment index deteriorated notably in industry, and services, retail trade and construction experienced moderate falls. Only consumer confidence improved from March.

Reflecting the deterioration in the assessment of the current order book, the industrial confidence index fell to -10.5 from -8.9 in the previous month.

Germany's consumer prices logged a steady pace of increase in April reflecting the stickiness of inflation despite the disinflationary pressure gaining strength over recent months.

The consumer price index posted an annual growth of 2.2%, which was the same rate as seen in March and weaker than economists' forecast of 2.3%.

The current 2.2% inflation was the lowest since May 2021.

On the other hand, EU harmonized inflation rose slightly to 2.4%, while the rate was expected to remain at 2.3%.

Data showed that core inflation that strips out food and energy softened to 3% in April from 3.3% in March.

Month-on-month, the CPI gained 0.5%, slightly above the expected 0.6%. At the same time, the harmonized index of consumer prices gained 0.6%, in line with expectations.

read more
No Help Yet For South Korea Stock Market

No Help Yet For South Korea Stock Market

The South Korea stock market has moved lower in back-to-back sessions, dropping more than 60 points or 2.3 percent along the way. The KOSPI now sits just above the 2,555-point plateau and it may extend its losses on Friday.
RTTNews | 4h 46min atrás
Malaysia Bourse Likely To Give Up Support At 1,600 Points

Malaysia Bourse Likely To Give Up Support At 1,600 Points

Ahead of Thursday's Deepavali holiday, the Malaysia stock market headed south again - one day after ending the six-day losing streak in which it had stumbled more than 35 points or 2.3 percent. The Kuala Lumpur Composite Index now sits just above the 1,600-point plateau and it's tipped to open in the red again on Friday.
RTTNews | 4h 46min atrás
New Zealand Building Permits Rise 2.6% In September

New Zealand Building Permits Rise 2.6% In September

The total number of building permits issued in New Zealand was up a seasonally adjusted 2.6 percent on month in September, Statistics New Zealand said on Friday - after slumping 5.2 percent in August.
RTTNews | 4h 49min atrás
South Korea Trade Data Due On Friday

South Korea Trade Data Due On Friday

South Korea will on Friday see October numbers for imports, exports and trade balance, highlighting a busy day for Asia-Pacific economic activity.
RTTNews | 5h 46min atrás
Canadian Stocks Tumble; TSX Falls To 3-week Low

Canadian Stocks Tumble; TSX Falls To 3-week Low

The Canadian market ended sharply sharply lower on Thursday due to heavy selling at several counters, as disappointing earnings updates from U.S. tech majors Microsoft Inc., and Meta Platforms, and uncertainty about the outlook for interest rate cuts, weighed on sentiment.
RTTNews | 6h 4min atrás
Dollar Turns In Mixed Performance Ahead Of Jobs Data

Dollar Turns In Mixed Performance Ahead Of Jobs Data

The U.S. dollar recovered from early losses on Thursday after fairly encouraging economic data dashed hopes of any aggressive interest rate cut by the Federal Reserve next week, but gave up gains as the day progressed with investors awaiting non-farm payroll data due on Friday, and the presidential election next week.
RTTNews | 6h 56min atrás
Canadian Market Headed For Weak Close

Canadian Market Headed For Weak Close

Disappointing earnings updates from U.S. tech majors Microsoft Inc., and Meta Platforms, anxiety ahead of U.S. presidential election and the Federal Reserve's monetary policy meeting, and weak commodity prices are weighing on the Canadian market.
RTTNews | 8h 57min atrás