DAX Edges Higher In Cautious Trade

RTTNews | vor 1190 Tagen
DAX Edges Higher In Cautious Trade

(RTTNews) - German stocks edged up slightly on Tuesday, as investors snapped up bargains following a bruising selloff the previous day on concerns about high inflation and aggressive policy tightening by central banks.

German consumer price inflation accelerated to a record high in May, as initially estimated, driven by higher energy prices, final data from Destatis showed earlier today.

Consumer price inflation rose to 7.9 percent in May from 7.4 percent in April. The rate came in line with the flash estimate published on May 30.

Another report from Destatis showed that wholesale price inflation moderated from a record high in May. Nonetheless, wholesale prices logged a strong double-digit growth of 22.9 percent annually after rising 23.8 percent in April.

The benchmark DAX inched up 0.2 percent 13,450 after losing 2.4 percent in the previous session.

Banks topped the gainers list, with Commerzbank rising 1.3 percent and Deutsche Bank adding 1.1 percent.

Drug discovery and development company Evotec edged up slightly after entering into a collaboration with Janssen Pharmaceutica NV.

Business software group SAP rose half a percent after U.S. firm Oracle Corp exceeded estimates on the top and bottom lines for its fiscal fourth quarter.

read more
Swiss Market Ends On Weak Note

Swiss Market Ends On Weak Note

The Switzerland market closed notably lower on Tuesday, in line with most of the major markets across Europe, as the mood remained cautious ahead of monetary policy announcements from the Federal Reserve and the Bank of England, due on Wednesday and Thursday, respectively.
RTTNews | vor 3Std 13 Minuten
U.S. Business Inventories Rise 0.2% In July, In Line With Estimates

U.S. Business Inventories Rise 0.2% In July, In Line With Estimates

The Commerce Department released a report on Tuesday showing business inventories in the U.S. increased in line with expectations in the month of July. The report said business inventories rose by 0.2 percent in July, matching the increase seen June as well as economist estimates.
RTTNews | vor 4Std 29 Minuten
U.S. Homebuilder Confidence Holds Steady In September

U.S. Homebuilder Confidence Holds Steady In September

Homebuilder confidence in the U.S. held steady in the month of September, according to a report released by the National Association of Home Builders on Tuesday. The report said the NAHB/Wells Fargo Housing Market Index came in at 32 in September, unchanged from August. Economists had expected the index to inch up to 33.
RTTNews | vor 4Std 57 Minuten
U.S. Industrial Production Unexpectedly Inches Slightly Higher In August

U.S. Industrial Production Unexpectedly Inches Slightly Higher In August

Industrial production in the U.S. unexpectedly edged slightly higher in the month of August, according to a report released by the Federal Reserve on Tuesday. The Fed said industrial production crept up by 0.1 percent in August after falling by a downwardly revised 0.4 percent in July. Economists had expected industrial production to slip by 0.1 percent.
RTTNews | vor 5Std 14 Minuten
U.S. Import Prices Unexpectedly Increase In August

U.S. Import Prices Unexpectedly Increase In August

A report released by the Labor Department on Tuesday showed import prices in the U.S. unexpectedly increased in the month of August. The Labor Department said import prices rose by 0.3 percent in August after inching up by a downwardly revised 0.2 percent in July. Economists had expected import prices to edge down by 0.1 percent.
RTTNews | vor 5Std 30 Minuten
Canadian Market Drifts Lower In Cautious Trade

Canadian Market Drifts Lower In Cautious Trade

The Canadian market is down in negative territory Tuesday morning, as data showing an increase in the nation's consumer price inflation dimmed the extent of rate cuts this year although the Canadian central bank is widely expected to lower interest rate by 25 basis points on Wednesday.
RTTNews | vor 5Std 56 Minuten
U.S. Retail Sales Climb 0.6% In August, Much More Than Expected

U.S. Retail Sales Climb 0.6% In August, Much More Than Expected

The Commerce Department released a report on Tuesday showing retail sales in the U.S. rose by much more than expected in the month of August. The report said retail sales climbed by 0.6 percent in August, matching an upwardly revised increase in July. Economists had expected retail sales to inch up by 0.2 percent compared to the 0.5 percent growth originally reported for the previous month.
RTTNews | vor 6Std 57 Minuten