European Shares Extend Slide As Rate Hike Fears Mount

RTTNews | Před 1001 dny

(RTTNews) - European stocks fell sharply on Thursday to hit seven-week lows amid worries that aggressive rate hikes by the Federal Reserve and other central banks in Europe and Asia will dent economic growth.

Markets are betting that the U.S. Federal Reserve and the ECB will both raise their key borrowing costs by 75 basis points when they meet later this month.

Meanwhile, closely watched gauges of manufacturing in Europe and Asia fell in August, raising worries over a possible recession.

The pan-European Stoxx Europe 600 was down 1.7 percent at 408.19 after losing 1.1 percent on Wednesday.

The German DAX fell 1.5 percent, France's CAC 40 index lost 1.7 percent and the U.K.'s FTSE 100 was down 1.5 percent.

Miners Anglo American, Antofagasta and Glencore lost 4-7 percent in London as metals prices tumbled following weak manufacturing data from China.

Rio Tinto gave up 3.4 percent after it agreed to buy out Turquoise Hill Resources in a deal valued at about $3.3 billion.

Government services provider Serco dropped 1.4 percent after it agreed to acquire immigration services provider ORS, which provides services in Switzerland, Germany, Austria and Italy.

Reckitt Benckiser plunged 4.4 percent. The consumer goods company said its CEO Laxman Narasimhan has decided to leave for personal reasons to relocate back to the United States.

Lender Barclays fell 1.3 percent after selling its remaining 63 million shares in South African lender Absa Group.

French spirits group Pernod Ricard fell about 1 percent despite posting better-than-expected annual results.

Luxury stocks were coming under selling pressure, with Hermes and LVMH declining more than 3 percent, after a private survey showed China's manufacturing sector slipped into contraction for the first time in three months in August amid weakening demand.

German flag carrier Deutsche Lufthansa fell 3.4 after a pilots' trade union decided on a day-long strike for Friday, September 2, following a warning strike by ground staff in July.

U.S. Economic Shrinks Slightly Less Than Previously Estimated In Q1

A report released by the Commerce Department on Thursday showed the U.S. economy shrank by slightly less than previously estimated in the first quarter of 2025. The Commerce Department said real gross domestic product edged down by a revised 0.2 percent in the first quarter compared to the previously reported 0.3 percent dip. Economists had expected the modest decrease to be unrevised.

RTTNews | Před 3 h 38 min

U.S. Weekly Jobless Claims Climb More Than Expected To 240,000

First-time claims for U.S. unemployment benefits rose by more than expected in the week ended May 24th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims climbed to 240,000, an increase of 14,000 from the previous week's revised level of 226,000. Economists had expected jobless claims to inch up to 230,000.

RTTNews | Před 3 h 40 min

Hormel Foods Recalls 256K Pounds Of Canned Beef Stew Product

Hormel Foods Corp. is recalling around 256,185 pounds of canned beef stew product that may be contaminated with foreign material, specifically wood, according to the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS. The Tucker, Georgia-based branded food major's recall involves 20-oz. metal cans containing "Dinty Moore BEEF STEW" with "BEST BY FEB 2028".

RTTNews | Před 4 h 15 min

UK Vehicle Manufacturing Logs Weakest Start To Year Since 2009: SMMT

UK automotive manufacturing registered its weakest start to a year since 2009, the Society of Motor Manufacturers & Traders, or SMMT, said Thursday. Car and commercial vehicle production decreased 15.8 percent on a yearly basis to 59,203 units in April. Auto production fell to the lowest level for the month since 1952, excluding 2020 when the first Covid lockdown effectively saw manufacturing c

RTTNews | Před 4 h 42 min

Bay Street Looks Set To Start On Firm Note

Canadian shares look headed for a firm start on Thursday, with encouraging earnings by Royal Bank of Canada and Canadian Imperial Bank of Commerce, and a U.S. court ruling against U.S. President Donald Trump's sweeping tariff moves set to lift sentiment.

RTTNews | Před 4 h 57 min