European Shares Inch Higher Ahead Of Fed, ECB Rate Decisions

RTTNews | Před 706 dny

(RTTNews) - European stocks traded higher on Monday ahead of a big week of central bank meetings. Traders await the Federal Reserve's monetary policy meeting scheduled from 13th June to 14th, with the U.S. central bank expected to pause its recent interest rate increases.

The Fed's accompanying statement as well as U.S. CPI data will be key as investors look for clues about the outlook for rates.

Closer home, analysts expect the European Central Bank to hike rates by 25 bps on Thursday.

The pan-European STOXX 600 was up 0.6 percent at 462.61 after declining 0.2 percent on Friday.

The German DAX climbed 1.1 percent, France's CAC 40 added 1 percent and the U.K.'s FTSE 100 was up 0.2 percent.

Telecom Italia fell about 1 percent after receiving two new offers from existing bidders for its NetCo unit.

Novartis rose 0.7 percent after it agreed to acquire Seattle-based biotech firm Chinook Therapeutics for up to $3.5 billion.

Swiss banking major UBS Group was up more than 1 percent after saying it has completed the acquisition of domestic rival Credit Suisse Group AG. Shares of the latter gained 1.3 percent.

The troubled banking firm has been merged into UBS, and the combined entity will now operate as a consolidated banking group.

British grocer Ocado jumped 6.4 percent after a brokerage upgraded its price target on the stock.

Oil & gas explorer Tullow Oil fell nearly 2 percent after announcing it is considering all options with respect to its interest in the Espoir field in Côte d'Ivoire.

Frasers Group rose over 1 percent. The retail, sport, and intellectual property company said that it has acquired an 18.9 percent stake in online electricals retailer, AO world Plc, for 75 million pounds.

Satellite company SES SA plunged 13 percent in Paris after an announcement that its CEO Steve Collar will step down at the end of June 2023 to pursue other professional and personal endeavors.

German sportswear maker Adidas jumped 5.3 percent after Bernstein raised its rating on the stock to "outperform".

U.S. Dollar Higher On Trade Hopes

The U.S. dollar appreciated against its major counterparts in the New York session on Friday, as investors focused on developments on the trade front.

RTTNews | Před 1 dnem

Swiss Market Ends On Firm Note On Upbeat Industrial Production Data

After a positive start and a subsequent rise to higher levels Friday morning, the Switzerland market remained firm despite paring some gains, and ended the day's session on a bright note. Data showing a sharp jump in Swiss industrial production in the first-quarter aided sentiment.

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European Stocks Close Week On Positive Note

European stocks closed higher on Friday thanks to easing trade tensions following the announcement of the U.S.-China deal earlier in the week, and reports that the EU bloc's talks with the U.S. for a reduction in tariffs are making positive progress.

RTTNews | Před 1 dnem

Canadian Market Recovers After Weak Start; TSX Up Marginally

Canadian stocks are turning in a mixed performance a little past noon on Friday after recovering from an early setback. Investors appear to be making cautious moves after eight straight days of gains that saw the market climb to a new record high on Thursday.

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U.S. Consumer Sentiment Unexpectedly Continues To Deteriorate In May

Consumer sentiment in the U.S. has unexpectedly continued to deteriorate in the month of May, according to preliminary data released by the University of Michigan on Friday. The University of Michigan said its consumer sentiment index dipped to 50.8 in May after slumping to 52.2 in April. Economists had expected the index to inch up to 53.4.

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U.S. Import, Export Prices Unexpectedly Inch Higher In April

The Labor Department released a report on Friday unexpectedly showing modest increases by both U.S. import and export prices in the month of April. The report said import prices crept up by 0.1 percent in April after falling by a downwardly revised 0.4 percent in March.

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U.S. Housing Starts Rebound Less Than Expected In April, Building Permits Pull Back Sharply

While the Commerce Department released a report on Friday showing a rebound by new residential construction in the U.S. in the month of April, the report also showed a substantial pullback by building permits during the month.

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Eurozone Trade Surplus Surges On Exports To US

The euro area trade surplus grew strongly in March as exports to the U.S increased sharply ahead of the expected increase in trade tariffs. The trade balance showed a surplus of EUR 36.8 billion compared to a EUR 22.8 billion surplus in the same period last year, Eurostat reported Friday.

RTTNews | Před 1 dnem

EURUSD	1.11549	GBPUSD	1.32809	AUDUSD	0.64069
USDJPY	145.873	USDCAD	1.39826	USDCHF	0.83882

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European Shares Inch Higher Ahead Of Fed, ECB Rate Decisions