DAX Dips On Profit Taking After Recent Gains
(RTTNews) - German stocks slipped into the red on Friday as caution set in after recent strong gains on optimism over signs the Federal Reserve might slow down the pace of rate hikes.
Investors also expect smaller rate hikes by the European Central Bank amid lingering worries of a recession in the euro zone.
The benchmark DAX slipped 0.1 percent to 14,469 after rising 0.7 percent in the previous session.
Banks were subdued, with Deutsche Bank falling nearly 1 percent. Tech stocks were rising, with Infineon rising half a percent.
The euro extended gains against the dollar for a third straight session, hitting a six-month high and on track for a second weekly gain in a row.
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CAC 40 Gains Ahead Of Key Regional Data
French stocks traded slightly higher on Monday ahead of the release of Germany's flash inflation figures for April and the euro area economic sentiment index later in the day.
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DAX Edges Up Slightly Ahead Of Inflation Data
German stocks edged up slightly on Monday as preliminary data showed inflation rose in four important German states in April.
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Asian Shares Gain In Thin Trade Ahead Of Fed Meeting
Asian stocks rose in thin trade on Monday, with Japanese markets closed for a holiday.
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Australian Dollar Rises Amid Risk Appetite
The Australian dollar strengthened against other major currencies in the Asian session on Monday amid risk appetite, as traders reacted to upbeat U.S. inflation data and a drop in treasury yields, which may have helped mitigate any negative response to the inflation data. They are also cautious and indulge in some bargain hunting ahead of the U.S. Fed's monetary policy announcement in two days.
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Yen Rebounds Against Majors
The Japanese yen rebounded from recent lows against other major currencies in the Asian session on Monday.
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European Shares Seen Opening Up As Traders Look To Fed Meeting
European stocks may open on a firm note Monday, though overall gains may remain capped somewhat as traders await the outcome of the highly anticipated Federal Reserve's policy meeting scheduled for April 30 to May 1.
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Před 8 h 27 min
