Major European Markets Close On Mixed Note After Volatile Session

RTTNews | Před 645 dny
Major European Markets Close On Mixed Note After Volatile Session

(RTTNews) - The major European markets ended on a mixed note on Thursday with investors largely making cautious moves, digesting the latest batch of economic data, and assessing the policy stance of major central banks.

The pan European Stoxx 600 ended 0.14% down. The U.K.'s FTSE 100 climbed 0.21%, France's CAC 40 edged up 0.03%, and Germany's DAX ended lower by 0.14%. Switzerland's SMI gained 0.63%.

Other markets in Europe closed mostly lower. Austria, Belgium, Finland, Greece, Iceland, Ireland, Netherlands, Norway, Poland, Portugal, Russia and Sweden closed weak.

Denmark and Turkiye ended higher, while Spain closed flat.

In the UK market, Melrose Industries climbed 5.5%. Rolls-Royce Holdings gained 3.7%. Relx, EasyJet, DCC, National Grid, Smith & Nephew, Centrica, AstraZeneca, SSE, United Utilities, Severn Trent, Sage Group, BAE Systems, 3i, TUI, Reckitt Benckiser and M&G gained 1 to 2.3%.

Direct Line Insurance Group shares zoomed more than 15% after the motor and home insurer posted a first-half operating loss but forecast improved earnings in 2024.

BHP tumbled 4.7%. Smurfit Kappa Group ended lower by about 4% after the packaging giant said it is in discussions to merge with U.S. rival WestRock.

Ds Smith, JD Sports Fashion, Prudential, Anglo American and Rio Tinto lost 2.7 to 4%.

Entain, Just Eat Takeaway.com, Antofagasta, Glencore, Natwest, Fresnillo, Ferguson and Pennon ended lower by 1 to 2%.

In the German market, MTU Aero Engines, Henkel, Hannover Rueck, Siemens Healthineers and Daimler Truck Holding gained 1 to 1.8%.

Adidas, Infineon, Continental, Siemens Energy, Brenntag, Puma, BASF, Vonovia, Volkswagen, Commerzbank, Symrise, Qiagen, Mercedes-Benz and BMW lost 1 to 3.5%.

In Paris, Orange, Veolia, Airbus Group, Safran, Sanofi, Renault and Engie advanced 1 to 2%.

STMicroElectronics dropped 4.2%. Alstom, WorldLine, ArcelorMittal, Teleperformance, Unibail Rodamco, Capgemini, Pernod Ricard, Publicis Groupe, Kering and LVMH declined 1 to 3.3%.

On the economic front, revised estimate published by the Eurostat said the euro area economy logged only a marginal growth in the second quarter reigniting fears of a recession after the net trade acted as a drag on growth.

The estimate showed that the 20-nation currency bloc grew by a marginal 0.1% in the June quarter. The rate was revised down from 0.3% estimated on August 16.

Germany's industrial production registered a slower decline in July, data from Destatis showed. Industrial output posted a monthly fall of 0.8%, which was slower than June's revised 1.4% decrease. Economists had forecast a drop of 0.5%.

Payroll employment in France grew at a slower pace of 0.1% in the second quarter as significantly less jobs were created compared to the previous three months, preliminary data from the statistical office INSEE showed. In the previous three months, salaried employment grew 0.4% or by 101,800 jobs.

Compared to a year ago, payroll employment rose 1% or by 279,900 jobs.

France's trade deficit widened to EUR 8.09 billion in July from EUR 6.8 billion in June. In the same period last year, the shortfall totaled EUR 15.5 billion, data published by the customs office showed.

Exports logged a monthly growth of 1%. At the same time, imports posted a 3.1% expansion. On a yearly basis, exports moved up 6.3%. By contrast, imports were down 5.7% in July.

UK house prices declined at the fastest pace in nine months in August as rising mortgage rates and high inflation continue to weigh on housing affordability and demand. House prices registered a monthly drop of 1.9%, following a 0.4% drop in July. This was the biggest fall since November 2022 and also marked the fifth consecutive decrease.

read more
Swiss Stock Market Heads South On Friday

Swiss Stock Market Heads South On Friday

The Swiss stock market turned lower again on Friday, one day after snapping the two-day slide in which it had given up more than 50 points or 0.4 percent.
RTTNews | Před 1 h 26 min
U.S. Consumer Sentiment Improves Much More Than Expected In June

U.S. Consumer Sentiment Improves Much More Than Expected In June

Preliminary data released by the University of Michigan on Friday showed a substantial improvement by consumer sentiment in the U.S. in the month of June. The University of Michigan said its consumer sentiment index surged to 60.5 in June after holding at 52.2 in May. Economists had expected the index to rise to 53.5.
RTTNews | Před 4 h 54 min
CPSC Recalls: 1.2 Mln Anker Power Banks, Hedge Trimmers, High Chairs, Mattresses, Pool Covers

CPSC Recalls: 1.2 Mln Anker Power Banks, Hedge Trimmers, High Chairs, Mattresses, Pool Covers

The U.S. Consumer Product safety Commission or CPSC has announced various recalls including around 1.2 million Anker Power Banks, as well as hedge trimmers, high chairs, mattresses, pool covers and Skywalker Pro Via Ferrata Sets. China- based Anker Innovations Limited has called back about 1.16 million units of power banks citing fire and burn risks, and TTI Outdoor Power Equipment recalled...
RTTNews | Před 5 h 17 min
FTSE 100 Falls Amidst Israel-Iran Conflict

FTSE 100 Falls Amidst Israel-Iran Conflict

Renewed geopolitical tensions from the Israel-Iran conflict weighed on sentiment for the FTSE 100 benchmark as it shed more than a quarter percent in Friday's trade.
RTTNews | Před 7 h 8 min
Eurozone Trade Surplus Declines To 3-Month Low

Eurozone Trade Surplus Declines To 3-Month Low

Eurozone trade surplus declined to a three month low in April as demand from the US softened following tariff hikes, official data revealed on Friday. The trade surplus declined to EUR 9.9 billion in April from EUR 37.3 billion in March, Eurostat reported. This was the lowest surplus since January. In the same period last year, the surplus totalled EUR 13.6 billion.
RTTNews | Před 7 h 22 min
Geopolitical Tensions Drag Down CAC 40

Geopolitical Tensions Drag Down CAC 40

An escalation in geopolitical tensions in the Middle East triggered by the Israel-Iran conflict weighed on market sentiment dragging down the CAC 40. Concerns about the trade dispute between the U.S. also weighed on sentiment.
RTTNews | Před 8 h 4 min
Adobe Lifts FY25 Outlook After Higher Q2; But Stock Down

Adobe Lifts FY25 Outlook After Higher Q2; But Stock Down

Software major Adobe Inc. issued third-quarter outlook and raised its fiscal 2025 earnings and revenue targets after reporting higher second-quarter profit, above market estimates, amid strong growth in the adoption of AI-powered and creative solutions. Meanwhile, the shares were down nearly 2 in the extended trading on Thursday, and are currently losing in the pre-market activity on the NYSE.
RTTNews | Před 8 h 40 min