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European Shares Gain Ahead Of UK Budget

RTTNews | hace 646

European Shares Gain Ahead Of UK Budget

(RTTNews) - European stocks advanced on Wednesday despite the latest FOMC minutes offering no indication of possible rate cuts.

Hamas and Israel have agreed to a Qatar-mediated pause in fighting, helping ease Middle East tensions.

The deal includes the release of 150 Palestinian prisoners held in Israeli jails in exchange for 50 people held captive by Hamas in Gaza since the armed group that rules the enclave stormed southern Israel on October 7.

On a light day on the economic front, investors looked ahead to U.K. finance minister's budget update for direction.

Chancellor of the Exchequer Jeremy Hunt will deliver the 2023 Autumn Statement later today, outlining the government's fiscal plan for the year ahead. The announcement is due at around 7.30 am ET.

The pan European STOXX 600 was up half a percent at 458.26 after ending marginally lower on Tuesday.

The German DAX gained half a percent, France's CAC 40 climbed 0.6 percent and the U.K.'s FTSE 100 was up 0.1 percent.

British software firm Sage jumped 10 percent after reporting strong revenue growth in its full-year results and launching a share buyback.

Home improvement retailer Kingfisher slumped 7 percent after cutting its profit outlook for the second time in three months.

Retail company Casino Group fell about 1 percent after it warned of likely 2023 losses for its core French business.

Germany's Fresenius Medical Care added 1.6 percent after raising its annual earnings outlook.

Also, the world's leading provider of products and services for individuals with renal diseases has resolved a legal dispute with the U.S. government.

Thyssenkrupp jumped 7 percent. After reporting fiscal 2023 net loss of 2.0 billion euros, the industrial engineering and steel company said it sees profit and higher sales in RY24.

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U.S. Consumer Sentiment Deteriorates Slightly More Than Initially Estimated In August

U.S. Consumer Sentiment Deteriorates Slightly More Than Initially Estimated In August

The University of Michigan released a report on Friday showing consumer sentiment in the U.S. deteriorated by slightly more than previously estimated in the month of August. The report said the consumer sentiment index for August was downwardly revised to 58.2 from the preliminary reading of 58.6.

RTTNews | hace 2h 16min

Chicago Business Barometer Slumps Much More Than Expected In August

Chicago Business Barometer Slumps Much More Than Expected In August

MNI Indicators released a report on Friday showing a sharp pullback by its reading on Chicago-area business activity in the month of August. The report said the Chicago business barometer tumbled to 41.5 in August after jumping to 47.1 in July, with a reading below 50 indicating contraction. Economists had expected the business barometer to edge down to 46.0.

RTTNews | hace 2h 34min

U.S. Consumer Prices Increase In Line With Estimates In July

U.S. Consumer Prices Increase In Line With Estimates In July

Consumer prices in the U.S. increased in line with economist estimates in the month of July, according to closely watched data released by the Commerce Department on Friday. The Commerce Department said its personal consumption expenditures (PCE) price index rose by 0.2 percent in July after climbing 0.3 percent in June. The uptick matched expectations.

RTTNews | hace 3h 18min

German Unemployment Exceeds 3 Mln

German Unemployment Exceeds 3 Mln

Germany's unemployment exceeded the three million-mark for the first time in a decade in August as the prolonged period of subdued economic activity weighed on the labor market. The number of unemployed persons increased by 46,000 from the previous year to 3.025 million in August. However, unemployment fell by adjusted 9,000 compared to the previous month, while it was forecast to increase by 1

RTTNews | hace 3h 47min

U.S. PCE Price Index Increased In Line With Estimates In July

U.S. PCE Price Index Increased In Line With Estimates In July

Consumer prices in the U.S. increased in line with economist estimates in the month of July, according to closely watched data released by the Commerce Department on Friday.

RTTNews | hace 4h 0min

Slightly Weak Start Seen For U.S. Stocks; PCE Data In Focus

Slightly Weak Start Seen For U.S. Stocks; PCE Data In Focus

Lower U.S. futures point to a slightly negative start on Wall Street Friday morning.

RTTNews | hace 4h 16min

Lower Futures Pointing To Weak Start On Bay Street; Canadian GDP, US PCE Data In Focus

Lower Futures Pointing To Weak Start On Bay Street; Canadian GDP, US PCE Data In Focus

Lower Canadian and U.S. futures ahead of Canadian GDP data and U.S. personal consumption expenditure report, point to a weak start on Bay Street Friday morning.

RTTNews | hace 4h 54min

Pound Slides Against Majors

Pound Slides Against Majors

The British pound weakened against other major currencies in the European session on Friday, weighed down to a large extent by the weakness in the financial sector, amid reports of likely imposition of windfall tax on banks.

RTTNews | hace 5h 1min

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