European Shares Pause After Last Week's Rally

RTTNews | hace 569
European Shares Pause After Last Week's Rally

(RTTNews) - European stocks were mostly lower in lackluster trade on Monday after last week's sharp rally on expectations that falling inflation across industrialized countries will prompt global central banks to start cutting interest rates next year.

Investors await comments from a number of central bankers later today, including Bank of France Governor de Galhau, Bank of Spain Governor de Cos and Bank of England Governor Bailey for direction.

Minutes from the Federal Reserve's last meeting earlier this month are due to be released Tuesday and could shed further light on the central bank's considerations.

The minutes could influence a potential rebound or continuation of the rally in U.S. bond yields.

Meanwhile, Germany's producer prices declined for the fourth straight month in October due to the decrease in energy prices, Destatis reported earlier today.

Producer prices dropped 11.0 percent from a year ago in October, in line with expectations. The annual decline in September was 14.7 percent, which was the biggest fall since records began in 1949.

The pan European STOXX 600 was marginally lower at 455.64 after climbing nearly 3 percent last week on dovish Fed bets.

The German DAX was marginally lower and the U.K.'s FTSE 100 was down 0.2 percent while France's CAC 40 rose 0.2 percent.

Swiss private lender Julius Baer plunged 9 percent after lowering profit expectations.

Energy stocks were subdued, with BP Plc and Shell trading marginally lower in London despite oil prices extending Friday's rally following reports that Saudi Arabia is preparing to prolong oil production cuts into next year.

Ashtead Group shares plummeted 10 percent after the British equipment rental firm warned that annual profits will fall short of forecasts.

Catering group Compass Group fell more than 5 percent after annual profit missed expectations.

Halma rose nearly 2 percent after the safety, health and environmental-technology company bought the TeDan group of companies for an initial $89.1 million on a cash-free, debt free basis.

German agrichemical company Bayer AG slumped 20 percent after stopping the main study of its top experimental medicine and losing a key U.S. trial against its weed killer Roundup.

read more
New Zealand Card Retail Sales Data Due On Thursday

New Zealand Card Retail Sales Data Due On Thursday

New Zealand will on Thursday release May figures for electronic card retail sales, highlighting a light day for Asia-Pacific economic activity. In April, sales were flat on month and down 0.3 percent on year.
RTTNews | hace 59 minutos
Swiss Market Fails To Hold Early Gains, Settle Modestly Lower

Swiss Market Fails To Hold Early Gains, Settle Modestly Lower

The Switzerland market ended modestly lower on Wednesday despite spending much of the day's trading session in positive territory. Although the market gained some ground in positive territory, reacting to news about U.S. and Chinese officials reaching a framework to implement the Geneva consensus following two days of discussions in London, the mood turned cautious later on in the session.
RTTNews | hace 4h 53min
European Stocks Pare Early Gains, Close Mostly Lower

European Stocks Pare Early Gains, Close Mostly Lower

Despite U.S. and Chinese officials announcing an agreement in principle on a framework to ease trade disputes, European stocks failed to hold early gains and closed mostly lower on Wednesday, with the mood turning cautious as the plan is subject to approval by the presidents of the two nations.
RTTNews | hace 5h 13min
ECB Indicator Shows Eurozone Wage Growth To Slow Sharply To 3.1% This Year

ECB Indicator Shows Eurozone Wage Growth To Slow Sharply To 3.1% This Year

A measure, based on the collective bargaining agreements in the euro area, suggested that negotiated wage growth is set to ease significantly this year, the European Central Bank said on Wednesday, which adds to expectations of inflation staying near the 2 percent target.
RTTNews | hace 8h 9min
U.S. Consumer Prices Inch Up 0.1% In May, Slightly Less Than Expected

U.S. Consumer Prices Inch Up 0.1% In May, Slightly Less Than Expected

A closely watched report released by the Labor Department on Wednesday showed a slight increase by consumer prices in the U.S. in the month of May. The Labor Department said its consumer price index inched up by 0.1 percent in May after rising by 0.2 percent in April. Economists had expected another 0.2 percent increase.
RTTNews | hace 9h 20min
Bay Street Seen Opening On Mixed Note

Bay Street Seen Opening On Mixed Note

It's likely to be a mixed start for Canadian shares on Wednesday with investors reacting to the crucial U.S. consumer price inflation data, and the developments on the trade front where U.S. and Chinese official reached a framework to implement the Geneva consensus following two days of discussions in London.
RTTNews | hace 10h 7min