European Stocks Close Broadly Higher

RTTNews | Před 658 dny
European Stocks Close Broadly Higher

(RTTNews) - European stocks closed broadly higher on Wednesday with investors digesting data on manufacturing activity, and looking ahead to U.S. chipmaker Nvidia's results and the upcoming comments from central bankers at the Jackson Hole Symposium later in the week.

The pan European Stoxx 600 climbed 0.39%. The U.K.'s FTSE 100 gained 0.68%, Germany's DAX advanced 0.15% and France's CAC 40 edged up 0.08%, while Switzerland's SMI jumped 0.9%.

Among other markets in Europe, Czech Republic, Denmark, Finland, Ireland, Netherlands, Poland and Portugal ended higher.

Austria, Belgium, Greece, Iceland, Norway, Russia and Turkiye closed weak. Spain and Sweden ended flat.

In the UK market, Endeavour Mining surged 4.2%. Unite Group, Segro, Fresnillo, Flutter Entertainment, Land Securities, Anglo American Plc, Ocado Group and Prudential gained 2.3 to 3.2%.

National Grid, Severn Trent, Croda International, Melrose Industries, Barratt Developments, Taylor Wimpey, Rio Tinto, Persimmon and Halma also moved up sharply.

JD Sports Fashion dropped 5.4%. BP, Centrica, Frasers Group, B&M European Value Retail, Johnson Matthey, Shell and Standard Chartered lost 0.5 to 1.4%.

In the German market, Vonovia climbed 2.3%. Symrise, Merck, Fresenius Medical Care, E.ON, Deutsche Telekom, Qiagen and SAP gained 1 to 1.8%.

Puma, Adidas and HeidelbergCement lost 3.7%, 3.3% and 2.7%, respectively. Commerzbank, Siemens Energy, BMW and Continental declined 1.2 to 2%.

In Paris, Teleperformance surged 2.7%. Eurofins Scientific, Alstom, WorldLine, L'Oreal, Unibail Rodamco and Thales gained 1 to 1.7%. Societe Generale, Hermes International, Edenred, Airbus Group, Safran and Capgemini also closed higher.

TotalEnergies, Renault, Essilor, Saint-Gobain, Carrefour and Sanofi lost 0.6 to 1.7%.

In economic news, flash survey results from S&P Global and Hamburg Commercial Bank revealed that euro area private sector activity registered its biggest fall since November 2020 as the downturn spread from manufacturing to services.

The flash composite output index declined to a 33-month low of 47.0 in August from 48.6 in July, the purchasing managers' survey showed. If pandemic months are excluded, the latest score was the lowest since April 2013.

At 44.7, the flash composite output index hit a 39-month low in August, down from 48.5 in July. The score was forecast to fall to 48.3.

The services PMI dropped to a nine-month low of 47.3 from 52.3 in the previous month. The score was also below economists' forecast of 51.5.

At the same time, the manufacturing PMI rose to 39.1 from 38.8 a month ago. The expected reading was 38.7.

France's private sector continued to contract in August, flash survey data from S&P Global showed.

The HCOB composite output index posted 46.6 in August, unchanged from July's 32-month low. The score signaled a solid decline in the private sector activity. The expected score was 47.5.

The services Purchasing Managers' Index slid to a 30-month low of 46.7 in August from 47.1 in the previous month, while the reading was forecast to improve to 47.5.

Meanwhile, the manufacturing PMI unexpectedly rose to a five-month high of 46.4 in August from 45.1 in July. The score was seen falling to 45.0.

Germany's private sector suffered the steepest contraction in more than three years in August, flash data released by S&P Global and Hamburg Commercial Bank showed Wednesday.

At 44.7, the flash composite output index hit a 39-month low in August, down from 48.5 in July. The score was forecast to fall to 48.3.

The services Purchasing Managers' Index dropped to a nine-month low of 47.3 from 52.3 in the previous month. The score was also below economists' forecast of 51.5.

At the same time, the manufacturing PMI rose to 39.1 from 38.8 a month ago. The expected reading was 38.7.

The UK private sector entered the contraction territory in August ending a six-month period of expansion as sluggish domestic economic conditions as well as higher interest rates damped demand, a closely watched survey showed Wednesday.

The flash S&P Global/Chartered Institute of Procurement & Supply composite output index slipped to a 31-month low of 47.9 in August from 50.8 in the previous month, the purchasing managers' survey showed. The reading was seen at 50.3.

A PMI score below 50.0 indicates contraction. The latest reading suggested that the private sector activity was the weakest since January 2021.

The services Purchasing Managers' Index posted 48.7 in August compared to 51.5 a month ago. The reading was forecast to fall moderately to 50.8.

The manufacturing PMI came in at a 39-month low of 42.5, down from 45.3 in July and economists' forecast of 45.0.

read more
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 3 h 17 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 3 h 36 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 6 h 33 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 7 h 44 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 8 h 31 min