European Shares Edge Higher As Eurozone Inflation Holds Steady

RTTNews | hace 721
European Shares Edge Higher As Eurozone Inflation Holds Steady

(RTTNews) - European stocks traded mostly higher on Thursday amid hopes that the Federal Reserve is nearing the end of its tightening cycle.

China reported downbeat PMI data, adding pressure on policymakers to roll out more stimulus measures.

Investors shrugged off official data showing that German retail sales declined more than expected in July on falling food turnover.

Retail sales fell 2.2 percent on a yearly basis in July compared to economists' forecast of 1.0 percent decrease - Destatis said.

On a monthly basis, retail sales slid 0.8 percent in July, confounding expectations for an increase of 0.3 percent.

Eurozone inflation remained unchanged at 5.3 percent in August, the European Central Bank (ECB) announced today, while the region's jobless rate stayed stable at 6.4 percent in July.

The pan European STOXX 600 rose 0.3 percent to 460.41 after declining 0.2 percent on Wednesday.

The German DAX climbed 0.7 percent and France's CAC 40 edged up 0.2 percent while the U.K.' FTSE 100 was marginally lower.

Swiss banking major UBS Group AG jumped 5.6 percent after it posted significantly higher profit in its second quarter primarily reflecting a $29 billion negative goodwill on the acquisition of Credit Suisse Group, as well as higher revenues.

Building materials supplier Grafton Group rallied 2.5 percent in London after it lifted dividend and announced a new share buyback program for up to 50.0 million pounds.

Sportswear group Frasers rose about 1 percent after raising its stake in online fashion retailer Boohoo to 9.1 percent from 7.8 percent. Shares of the latter advanced 1.2 percent.

French drug manufacturer Sanofi edged up slightly after shuffling its executive committee.

Pernod Ricard lost more than 4 percent. The spirits giant warned that sales would decline in the key Chinese and U.S. markets in the first quarter through September.

read more
Swiss Market Ends Weak

Swiss Market Ends Weak

The Switzerland market ended modestly lower on Thursday after languishing in negative territory right through the day's trading session, as the mood remained cautious with investors looking ahead to speeches from central bank chiefs at Federal Reserve's Jackson Hole Symposium.
RTTNews | hace 7h 27min
European Stocks Close On Mixed Note Again

European Stocks Close On Mixed Note Again

European stocks turned in another mixed performance as investors stayed a bit cautious on Thursday, looking ahead to Federal Reserve's symposium at Jackson Hole, Wyoming, and largely shrugging off trade concerns. Investors also digested the latest batch of regional economic data, including flash estimates of manufacturing and services sector activity in the major economies.
RTTNews | hace 7h 43min
U.S. Leading Economic Index Edges Down In Line With Estimates In July

U.S. Leading Economic Index Edges Down In Line With Estimates In July

A reading on leading U.S. economic indicators edged slightly lower in the month of July, according to a report released by the Conference Board on Thursday. The Conference Board said leading economic index slipped by 0.1 percent in July after falling by 0.3 percent in June. The modest decrease matched economist estimates.
RTTNews | hace 10h 26min
U.S. Existing Home Sales Unexpectedly Rebound In July

U.S. Existing Home Sales Unexpectedly Rebound In July

The National Association of Realtors released a report on Thursday showing an unexpected rebound by existing home sales in the U.S. in the month of July. The report said existing home sales jumped by 2.0 percent to an annual rate of 4.01 million in July after tumbling by 2.7 percent to an annual rate of 3.93 million in June.
RTTNews | hace 10h 37min