European Stocks Close Broadly Higher

RTTNews | Před 657 dny

(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.

Gold Dips As US-China Trade Talks Continue

Gold prices dipped on Tuesday, ahead of US inflation report and ongoing US-China official talks, which is now the focus of investors from all over the world. Front Month Comex Gold for June delivery lost $11.20 (or 0.34%) to $3320.90 per troy ounce on Tuesday. Front Month Comex Silver for June delivery lost $14.60 cents (or 0.40%) to $36.542 today. The much-anticipated high-level trade talks between the world's two largest economies, U.S. and China, began on Monday in London and continued for the second day today. On the economic data front, the US Labor Department will release Consumer Price Index (CPI) data on Wednesday, which may help to determine the Federal Reserve's monetary policy before the Fed's June 17-18 meeting. Meanwhile, the World Bank, in its biannual Global Economic Prospects, has cut the global growth forecast to 2.3% from 2.7% for the current year citing "trade barriers" as a reason behind the global slowdown.

RTTNews | Před 1 h 22 min

Crude Oil Prices Fade As US-China Talks Progress

Crude oil prices were down on Tuesday amidst uncertainty over trade talks between China and the United States continued, although the outcome remains uncertain. WTI oil closed down by $0.31 to settle at $64.98 per barrel. August Brent crude was last seen down by $0.03 to $67.01. To ease the standstill created by the reciprocal tariffs imposed by U.S. President Donald Trump and China, high-level officials from both nations convened at London on Monday to discuss steps to soften the conflict. As the talks went on for the second day today, Trump told reporters at the White House that the talks were "going well" and that he was "only getting good reports." While U.S. Treasury Secretary Scott Bessent described Monday's talks as "good meeting," the Commerce Secretary Howard Lutnick called them as "fruitful." On the geopolitical front, however, Russia showed no sign of relenting on its war with Ukraine and continued its attacks. Limiting the downside, the U.S. Energy Information Administration has reported today that US crude oil production is likely to decline over the next 18 months - while the approach of the summer driving season is also good news.

RTTNews | Před 1 h 28 min

Canadian Dollar Appreciates Amid Risk Appetite

The Canadian dollar climbed against its major counterparts in the New York session on Tuesday, as investors monitored trade talks between the U.S. and China that continued for a second day.

RTTNews | Před 2 h 9 min

Swiss Market Ends Marginally Down

Save for a very brief while at the start, the Switzerland market stayed weak on Tuesday as investors refrained from making significant moves, choosing to wait for directional clues. Investors awaited the outcome of the high-level trade discussions between U.S. and Chinese officials in London.

RTTNews | Před 3 h 34 min

European Stocks Close On Mixed Note

European stocks turned in a mixed performance on Tuesday with investors mostly making cautious moves as they awaited the outcome of the ongoing Sino-U.S. trade talks in London. German stocks are drifting lower on Tuesday as investors await the outcome of high-level U.S. - China trade talks in London.

RTTNews | Před 3 h 50 min

TSX Up Marginally; Energy Stocks Rise

After a flat start and a subsequent climb up north, the Canadian market retreated Tuesday morning, and at a little past noon, was up marginally, led by gains in energy, consumer and communications sectors. Investors are cautiously optimistic about some positive progress in U.S.-China trade relations.

RTTNews | Před 4 h 57 min

U.S. Stocks Mostly Subdued In Lackluster Trade

U.S. stocks are turning in a mixed performance in lackluster trade on Tuesday as traders await the outcome of the ongoing trade talks between China and the U.S. in London. Trade negotiations between the world's two largest economies commenced on Monday, and no big breakthrough seems to have been arrived as yet.

RTTNews | Před 5 h 33 min

Eurozone Investor Confidence Strongest In A Year: Sentix

Euro area investor morale rose to the highest level in a year in June, driven by the economic recovery in Germany, survey data from the behavioral research institute Sentix showed Tuesday. The investor sentiment index rose to +0.2 in June from -8.1 in May. This was the highest reading since June 2024 and remained well above economists' forecast of -6.0.

RTTNews | Před 8 h 28 min

EURUSD	1.14224	GBPUSD	1.34932	AUDUSD	0.65217
USDJPY	144.825	USDCAD	1.36699	USDCHF	0.82225

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European Stocks Close Broadly Higher