European Shares Slide As Traders Eye Fed Verdict

RTTNews | vor 663 Tagen

(RTTNews) - European stocks were subdued on Wednesday as investors braced for another interest-rate hike from the Federal Reserve later in the day.

Odds are that Fed Chair Jerome Powell will signal additional rate hikes are not off the table, but the central bank will take a more gradual approach to rate rises based on incoming data.

Upcoming ECB and BOJ rate decisions also remained on investors' radar.

The pan European STOXX 600 was down 0.6 percent at 465.27 after gaining half a percent on Tuesday.

The German DAX slipped 0.6 percent, France's CAC 40 index fell 1.4 percent and the U.K.'s FTSE 100 was down 0.3 percent.

Amsterdam-based Just Eat Takeaway.com soared 8 percent after posting narrower losses in the first half of the year.

Mining giant Rio Tinto dropped 1.7 percent in London after reporting its lowest first-half year profits since the pandemic.

Lender Lloyds Banking Group lost 2.2 percent after first-half profit missed expectations.

NatWest gave up nearly 3 percent. CEO Alison Rose quit today after admitting a "serious error of judgment" in speaking to a reporter about the banking affairs of arch-Brexiteer Nigel Farage.

Aircraft-engine manufacturer Rolls-Royce jumped more than 18 percent after unexpectedly raising its full-year operating profit forecast by around 45 percent.

LVMH tumbled 4.3 percent after the French luxury goods giant reported a surprise drop in U.S. sales amid economic uncertainty.

Danone lost 2.7 percent. The maker of Activia yoghurt, Evian water and Aptamil infant milk announced that it would "deconsolidate" its Russia business in July, bringing the total impairments related to the country to almost 700 million euros.

Automaker Renault declined 1.1 percent after finalizing a revamped alliance with Nissan.

Telecom major Orange plummeted 3.4 percent after consolidated net income declined by 378 million euros to 1.09 billion euros in the first half of 2023 on an historical basis.

German utility RWE rallied 2 percent after raising its full-year earnings forecast.

Sportswear retailer PUMA jumped 3.3 percent after reporting 11 percent growth in second-quarter sales.

Aircraft engine maker MTU Aero Engines fell more than 3 percent after a warning that the Geared Turbofan inspection program will cause headwinds for its free cash flow.

Lender Deutsche Bank dropped 1.1 percent after reporting a decline in second-quarter earnings.

DAX Down Marginally In Cautious Trade

German stocks are exhibiting weakness on Monday in cautious trade after recent gains. Investors are assessing possible risks to global economic growth due to geopolitical tensions and tariff uncertainty, as well as a downgrade in U.S. sovereign debt.

RTTNews | vor 20 Minuten

European Shares Edge Lower On US Debt Concerns

European stocks traded lower on Monday as investors reacted to Moody's downgrade of U.S. credit rating and mixed economic data from China.

RTTNews | vor 1Std 4 Minuten

Asian Shares Drift Lower After US Credit Rating Downgrade

Asian stocks ended lower on Monday as Moody's downgrade of the U.S. credit rating reinforced Wall Street's growing worries over the U.S. sovereign bond market.

RTTNews | vor 1Std 25 Minuten

China Industrial Output Growth Tops Expectations; Retail Sales Disappoint

China's industrial production increased more than expected in April despite trade tariff hikes and the unemployment rate dropped marginally but growth in retail sales fell short of expectations signalling weaker domestic demand, official data revealed on Monday. Industrial output logged an annual growth of 6.1 percent in April after rising 7.7 percent in March.

RTTNews | vor 2Std 40 Minuten

Thai Downgrades GDP Growth Outlook

Thailand's economy is projected to expand less than the previous estimate this year as trade tariffs are likely to dampen exports in the second half of the year, the National Economic and Social Development Council said Monday. Southeast Asia's second largest economy is forecast to grow in the range of 1.3 percent to 2.3 percent this year. This was down from the previous outlook of 2.3 percent-

RTTNews | vor 4Std 14 Minuten

European Shares Likely To Drift Lower On Concerns About US Debt

European stocks may open on a sluggish note Monday after Moody's downgraded the U.S. credit rating by one notch to Aa1 from Aaa, citing rising levels of government debt and interest payments.

RTTNews | vor 4Std 36 Minuten

Fijian Import & Export Recalls Ready-To-Eat Meat Pie Products

Hayward, California-based Fijian Import & Export Co. Inc. is recalling around 127 pounds of ready-to-eat meat pie products from Australia that were not presented for import reinspection upon entry into the United States, according to the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS. The recall involves 5.6-oz. plastic packages...

RTTNews | vor 5Std 6 Minuten

Sensex, Nifty Marginally Lower As IT Stocks Drag

Indian shares were flat to slightly lower on Monday, with IT stocks leading losses after a U.S. credit rating downgrade.

RTTNews | vor 5Std 46 Minuten

EURUSD	1.12743	GBPUSD	1.33961	AUDUSD	0.6444
USDJPY	144.82	USDCAD	1.39481	USDCHF	0.83305

Advertisement

European Shares Slide As Traders Eye Fed Verdict