European Shares Inch Higher Ahead Of US Inflation Data

RTTNews | Před 820 dny
European Shares Inch Higher Ahead Of US Inflation Data

(RTTNews) - European stocks held steady on Tuesday after logging their steepest single day decline this year the previous day on fears of contagion from the collapse of U.S. lenders Silicon Valley Bank and Signature Bank.

Amid growing expectations for a pause in U.S. rate hikes, investors awaited the U.S. consumer price inflation report later in the day for further clarity on the rate outlook.

The pan European STOXX 600 was up 0.2 percent at 443.52 after losing 2.4 percent on Monday.

The German DAX rose 0.4 percent and France's CAC 40 edged up 0.2 percent while the U.K.'s FTSE 100 was down half a percent, dragged down by mining and energy stocks. Italy's top insurer Generali advanced 1.5 percent after reporting record operating profit in 2022.

Swiss lender Credit Suisse plunged 4.3 percent after flagging "material weaknesses" in financial reporting. Casino Guichard Perrachon SA rose about 1 percent in Paris. The mass-market retail group said that it is selling part of its stake in Assaí for 174 million shares to boost its deleveraging.

Volkswagen shares tumbled 3.5 percent. The German auto giant unveiled plans to invest 180 billion euros between 2023 - 2027 in its most attractive profit pools and regions.

TeamViewer rallied 2.6 percent. The remote access computer software provider said it expects double-digit percentage growth in revenue, stable margin and renewed share buyback in fiscal 2023.

Miners Anglo American, Antofagasta and Glencore fell 1-2 percent as London copper prices declined around 1 percent on news that Chinese regulators might take steps to curb inflated iron ore prices.

Oil & gas firms BP Plc and Shell both fell around 1.7 percent as oil maintained its downward trajectory on fears of a fresh financial crisis in the United States.

HSBC declined 1.7 percent to extend losses for a fourth day running. On Monday, the lender bought the U.K. arm of failed U.S. lender Silicon Valley Bank for a nominal 1 pound ($1.2) in a rescue deal.

Financial services business Close Brothers slumped 4 percent after reporting a 90 percent fall in adjusted operating profit to £12.6mln during the first six months ending January 2023.

read more
New Zealand Card Retail Sales Data Due On Thursday

New Zealand Card Retail Sales Data Due On Thursday

New Zealand will on Thursday release May figures for electronic card retail sales, highlighting a light day for Asia-Pacific economic activity. In April, sales were flat on month and down 0.3 percent on year.
RTTNews | Před 42 minutami
Swiss Market Fails To Hold Early Gains, Settle Modestly Lower

Swiss Market Fails To Hold Early Gains, Settle Modestly Lower

The Switzerland market ended modestly lower on Wednesday despite spending much of the day's trading session in positive territory. Although the market gained some ground in positive territory, reacting to news about U.S. and Chinese officials reaching a framework to implement the Geneva consensus following two days of discussions in London, the mood turned cautious later on in the session.
RTTNews | Před 4 h 36 min
European Stocks Pare Early Gains, Close Mostly Lower

European Stocks Pare Early Gains, Close Mostly Lower

Despite U.S. and Chinese officials announcing an agreement in principle on a framework to ease trade disputes, European stocks failed to hold early gains and closed mostly lower on Wednesday, with the mood turning cautious as the plan is subject to approval by the presidents of the two nations.
RTTNews | Před 4 h 56 min
ECB Indicator Shows Eurozone Wage Growth To Slow Sharply To 3.1% This Year

ECB Indicator Shows Eurozone Wage Growth To Slow Sharply To 3.1% This Year

A measure, based on the collective bargaining agreements in the euro area, suggested that negotiated wage growth is set to ease significantly this year, the European Central Bank said on Wednesday, which adds to expectations of inflation staying near the 2 percent target.
RTTNews | Před 7 h 52 min
U.S. Consumer Prices Inch Up 0.1% In May, Slightly Less Than Expected

U.S. Consumer Prices Inch Up 0.1% In May, Slightly Less Than Expected

A closely watched report released by the Labor Department on Wednesday showed a slight increase by consumer prices in the U.S. in the month of May. The Labor Department said its consumer price index inched up by 0.1 percent in May after rising by 0.2 percent in April. Economists had expected another 0.2 percent increase.
RTTNews | Před 9 h 3 min
Bay Street Seen Opening On Mixed Note

Bay Street Seen Opening On Mixed Note

It's likely to be a mixed start for Canadian shares on Wednesday with investors reacting to the crucial U.S. consumer price inflation data, and the developments on the trade front where U.S. and Chinese official reached a framework to implement the Geneva consensus following two days of discussions in London.
RTTNews | Před 9 h 51 min