European Shares Rise As China Eases COVID Curbs; FTSE 100 Underperforms

RTTNews | Před 917 dny

(RTTNews) - European stocks rose on Friday to extend gains from the previous session as cooling U.S. inflation fueled hopes the Federal Reserve would soon start scaling down the size of its interest-rate hikes.

Sentiment was also boosted after China cut quarantine restrictions for inbound travelers and flights.

The loosening of curbs came, a day after President Xi Jinping led his new Politburo Standing Committee in a meeting on COVID.

The pan-European STOXX 600 was up half a percent at 433.91 after rallying 2.8 percent to log its biggest percentage gain in five weeks on Thursday.

The German DAX climbed 0.6 percent and France's CAC 40 index added 0.9 percent while the U.K.'s FTSE 100 was down 0.4 percent, giving up early gains after the release of GDP data.

Miners Anglo American and Antofagasta surged 4-5 percent in London on news of China easing its stringent COVID rules.

China-exposed luxury giants were moving higher, with Kering, Pernod Ricard and Hermes International climbing 1-3 percent in Paris.

Richemont shares soared 14 percent. The Swiss luxury goods group struck an upbeat tone after reporting higher half-year sales.

British safety equipment company Halma gained about 1 percent after naming Steve Gunning as its new CFO.

Drug maker AstraZeneca fell 2.5 percent after saying it is longer pursuing U.S. approval of its COVID-19 vaccine.

German steel producer Salzgitter jumped 7.7 percent despite reporting lower Q3 profit.

Reinsurer Munich Re was little changed after cutting stake in Admiral Group.

In economic releases, German consumer price inflation accelerated to 10.4 percent in October from 10.0 percent in September, final data from Destatis showed. The rate came in line with the flash estimate.

U.K. GDP shrank 0.2 percent sequentially, offsetting the 0.2 percent gain in the second quarter - according to the first estimate from the Office for National Statistics. However, the pace of decline was slower than economists' forecast of -0.5 percent.

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.

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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.

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Canadian Market Recovers After Weak Start; TSX Up Marginally

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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.

RTTNews | Před 9 h 7 min

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.

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

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European Shares Rise As China Eases COVID Curbs; FTSE 100 Underperforms