European Shares Likely To See Cautious Start Ahead Of ECB Rate Decision

RTTNews | hace 957
European Shares Likely To See Cautious Start Ahead Of ECB Rate Decision

(RTTNews) - European stocks may open flat to slightly lower on Thursday as investors await today's ECB rate decision.

A 75-bps rate hike is expected for the second consecutive time despite political pressure to tread more carefully amid a looming recession.

Meanwhile, following disappointing earnings from Alphabet and Microsoft, Facebook parent Meta Platforms forecast a weak holiday quarter and significantly more costs next year, amid a broad slowdown in online ad spending, challenges from Apple's iOS privacy update and increased competition from TikTok.

Amazon and Apple will unveil their financial results later today, along with industrial bellwether Caterpillar and McDonald's.

On the data front, the latest economic data, including reports on weekly jobless claims, durable goods orders and third quarter GDP may offer additional clues on the economic and rate outlook.

Asian stocks traded mixed, and the dollar was pinned near one-month lows while oil extended gains after climbing over 3 percent on Wednesday.

U.S. stocks ended mostly lower overnight, as warnings from the tech behemoths overshadowed investor optimism over falling Treasury yields.

The tech-heavy Nasdaq Composite showed wild swings before closing 2 percent lower following negative earnings news from tech giants Microsoft and Alphabet.

The S&P 500 shed 0.7 percent while the Dow finished marginally higher to stretch its winning streak to a fourth session on the back of better-than-expected quarterly earnings from Visa.

European stocks hit five-week highs on Wednesday as a smaller-than-expected interest rate hike by the Bank of Canada signaled that central banks around the world are getting closer to the end of the tightening cycle.

The pan European STOXX 600 gained 0.7 percent. The German DAX rallied 1.1 percent, France's CAC 40 index rose 0.4 percent and the U.K.'s FTSE 100 added 0.6 percent.

read more
UK Jobless Rate Rises; Wage Growth Softens

UK Jobless Rate Rises; Wage Growth Softens

The UK unemployment rate rose slightly in the three months to April period and wage growth softened as the rise in social security contribution and the minimum wage started to weigh on the labor market activity. The ILO jobless rate rose to 4.6 percent in the three months to April, as expected, from 4.5 percent in the three months to March, data from the Office for National Statistics revealed T
RTTNews | hace 13 minutos
Asian Shares Rise As US-China Talks Gather Momentum

Asian Shares Rise As US-China Talks Gather Momentum

Asian stocks advanced on Tuesday ahead of a second day of talks in London between China and the U.S. to resolve tariff disputes and strengthen economic relations. U.S. officials expressed optimism after the first day of negotiations, boosting investor sentiment.
RTTNews | hace 1h 7min
Pound Slides On Weak U.K. Employment Data

Pound Slides On Weak U.K. Employment Data

The British pound weakened against other major currencies in the early European session on Tuesday, after the U.K. unemployment rate rose slightly in the three months to April period.
RTTNews | hace 2h 3min
Pound Slides Against Majors

Pound Slides Against Majors

The British pound weakened against other major currencies in the early European session on Tuesday.
RTTNews | hace 2h 25min
Australia NAB Business Conditions Ease; Confidence Improves

Australia NAB Business Conditions Ease; Confidence Improves

Australian business conditions eased in May amid ongoing profitability pressures and soft demand, while business confidence improved from the last month, survey data from NAB showed on Tuesday. A monthly survey conducted by Westpac showed that consumer confidence rose moderately in June, underpinned by interest rate cut and softening inflation.
RTTNews | hace 4h 16min