European Shares Rise On Solid Data, Rate Cut Hopes

RTTNews | vor 489 Tagen

(RTTNews) - European stocks traded higher on Tuesday after a survey showed that business activity in the euro zone expanded at its fastest pace in nearly a year this month.

The composite PMI increased from 50.3 to 51.4 in April on the back of a buoyant recovery in the bloc's dominant service sector.

Elsewhere in the U.K., a survey showed private sector activity in the country expanded for the sixth consecutive month in April. The composite PMI rose from 52.8 to 54.0, hitting an 11-month high.

Expectations of interest rate cuts by the European Central Bank and the Bank of England also helped underpin investor sentiment.

The pan European STOXX 600 rose 0.6 percent to 505.17 after closing up 0.6 percent on Monday.

The German DAX added 0.6 percent, while France's CAC 40 and the U.K.'s FTSE 100 both edged up around 0.3 percent.

Kuehne + Nagel International, a Swiss transport and logistics company, declined 2.6 percent after its first-quarter earnings fell 40 percent.

Drug major Novartis AG surged 4.7 percent after raising its full-year guidance.

JD Sports Fashion jumped more than 6 percent in London after it proposed to buy Hibbett in a deal that values the American sporting-goods retailer at $1.08 billion.

Mining giant Anglo American tumbled 3.5 percent after cutting its diamond production guidance.

Associated British Foods soared 9.5 percent. The Primark owner lifted its annual profit guidance after reporting a 39 percent jump in first-half profit.

Home builder Taylor Wimpey rose about 1 percent after reaffirming its outlook for 2024.

France's Renault SA fell about 1 percent as the auto major reported a marginal rise in revenue for the first quarter.

SAP AG shares surged 3.5 percent. The German software maker reaffirmed its outlook for 2024 after Q! cloud revenue increased 24 percent to 3.93 billion euro.

China Stock Market Due For Consolidation

The China stock market has moved higher in four straight sessions, advancing almost 160 points or 4.4 percent along the way. The Shanghai Composite Index now sits just above the 3,880-point plateau although it may see profit taking on Tuesday.

RTTNews | vor 18 Minuten

Taiwan Bourse May Hand Back Monday's Gains

The Taiwan stock market bounced higher again on Monday, one session after ending the two-day winning streak in which it had gained more than 600 points or 2.6 percent. The Taiwan Stock Exchange now rests just above the 24,275-point plateau although it's expected to open to the downside on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water. For the day, the index surged 512.91 points or 2.16 points to finish at 24,277.38 after trading between 24,108.75 and 24,362.02. Among the actives, Mega Financial and United Microelectronics Corporation both eased 0.12 percent, while Fubon Financial jumped 1.93 percent, E Sun Financial and Formosa Plastics both sank 0.74 percent, Taiwan Semiconductor Manufacturing Company accelerated 3.08 percent, Hon Hai Precision rallied 2.47 percent, Largan Precision added 0.42 percent, MediaTek soared 3.30 percent, Novatek Microelectronics climbed 1.18 percent, Nan Ya Plastics surged 3.53 percent, Asia Cement gained 0.40 percent and Cathay Financial, CTBC Financial and Catcher Technology were unchanged.

RTTNews | vor 48 Minuten

Singapore Stock Market Tipped To Open In The Red

The Singapore stock market has climbed higher in five straight sessions, improving almost 70 points or 1.6 percent along the way. The Straits Times Index now sits just above the 4,255-point plateau although investors may lock in gains on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | vor 1Std 18 Minuten

Rally May Stall For Malaysia Stock Market

The Malaysia stock market has moved higher in three straight sessions, collecting almost 15 points or 0.9 percent along the way. The Kuala Lumpur Composite Index now sits just above the 1,600-point plateau although it's likely to open to the downside on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | vor 1Std 48 Minuten

Japan Stock Market May Spin Its Wheels On Tuesday

The Japan stock market has moved higher in back-to-back sessions, gathering almost 200 points or 0.5 percent along the way. The Nikkei 225 now rests just above the 42,800-point plateau although it may be stuck in neutral on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water. The Nikkei finished modestly higher on Monday following gains from the financial shares, weakness from the technology stocks and a mixed picture from the automobile companies. For the day, the index advanced 174.53 points or 0.41 percent to finish at 42,807.82 after trading between 42,681.37 and 43,201.42. Among the actives, Nissan Motor accelerated 3.15 percent, while Mazda Motor shed 0.55 percent, Toyota Motor eased 0.10 percent, Honda Motor climbed 1.01 percent, Softbank Group soared 3.53 percent, Mitsubishi UFJ Financial dipped 0.11 percent, Mizuho Financial collected 0.79 percent, Sumitomo Mitsui Financial added 0.41 percent, Mitsubishi Electric rose 0.35 percent, Sony Group slumped 1.11 percent, Panasonic Holdings lost 0.49 percent and Hitachi fell 0.24 percent.

RTTNews | vor 2Std 3 Minuten

KOSPI May Run Out Of Steam On Tuesday

The South Korea stock market has tracked higher in three straight sessions, collecting almost 80 points or 2.6 percent along the way. The KOSPI now sits just shy of the 3,210-point plateau although it's due for consolidation on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | vor 2Std 18 Minuten

RBA Minutes On Tap For Tuesday

The Reserve Bank of Australia will on Tuesday release the minutes from its August 12 monetary policy meeting, highlighting a modest day for Asia-Pacific economic activity.

RTTNews | vor 3Std 18 Minuten

U.S. Dollar Climbs Against Majors

The U.S. dollar strengthened against its major counterparts in the New York session on Monday.

RTTNews | vor 4Std 30 Minuten

EURUSD	1.1638	GBPUSD	1.34708	AUDUSD	0.64876
USDJPY	147.33	USDCAD	1.38506	USDCHF	0.80435