European Stocks Close Higher Again, End Week On Bright Note

RTTNews | hace 472

(RTTNews) - European stocks closed higher on Friday, with several markets hitting fresh record highs, as investors reacted to some positive economic data and earnings updates, and continued to remain optimistic about interest rate cuts by central banks in the coming months.

Bank of England's dovish rate decision on Thursday and better-than-expected U.K. GDP growth data released earlier today boosted investor sentiment.

The Bank of England held interest rates steady on Thursday but signaled it will cut rates this summer if inflation stays low.

Preliminary estimates from the Office for National Statistics showed that the UK economy exited a technical recession in the first quarter with the economic output growing better than expected led by a rebound in the services output and household spending.

The report showed gross domestic product grew 0.6% from the fourth quarter, when the economy shrunk 0.3%. Output had declined 0.1% in the third quarter last year. Economists had expected the first quarter growth to come in at 0.4%.

GDP rose 0.2% year-on-year in the first quarter, beating expectations for stagnation.

The pan European Stoxx 600 climbed 0.77%. The U.K.'s FTSE 100 gained 0.63%, Germany's DAX ended up by 0.46% and France's CAC 40 closed higher by 0.48%, while Switzerland's SMI settled with a gain of 1.31%. The FTSE 100 gained more than 2.5% in the week, while DAX and CAC 40 gained about 4.3% and 3.4%, respectively, in the week.

Among other markets in Europe, Austria, Belgium, Finland, Greece, Iceland, Netherlands, Norway, Portugal, Russia, Spain and Sweden closed higher.

Poland and Turkiye ended weak.

In the UK market, St. James's Place, Spirax-Sarco Engineering, Glencore, Standard Chartered, B&M European Value Retail, Vodafone Group, Prudential, WPP, IMI, Experian, Berkeley Group Holdings, Howden Joinery and Smiths Group gained 1.5 to 3.2%.

RightMove dropped about 5.5%. Rolls-Royce Holdings ended down 2.37%. Land Securities, Unite Group, Ocado Group, Intertek Group and Scottish Mortgage lost 1 to 2%.

In the German market, Siemens Energy, Fresenius Medical Care, Munich RE, HeidelbergCement, Siemens and Fresenius climbed 2.3 to 4.2%.

Zalando gained 3.3% as Berenberg upgraded its rating on the stock to "buy" from "hold." RWE, Hannover Rueck, Deutsche Post, Qiagen and Beiersdorf also ended notably higher.

Puma ended lower by about 3%. BASF, Symrise, Covestro, Sartorius and SAP also closed notably lower.

In the French market, Teleperformance rallied nearly 4%. Legrand, Societe Generale, Accor, Publics Groupe, Schneider Electric, Edenred and Sanofi gained 1.2 to 3%.

STMicroElectronics and Airbus Group ended sharply lower.

Japanese Market Significantly Lower

The Japanese stock market is trading significantly lower on Tuesday, reversing the gains in the previous two sessions, following the broadly negative cues from Wall Street overnight, with the Nikkei 225 falling below the 42,400 level, with weakness across most sectors led by index heavyweights, exporters and financial stocks.

RTTNews | hace 26 minutos

Indonesia Bourse May Hand Back Monday's Gains

The Indonesia stock market on Monday wrote a finish to the two-day slide in which it had fallen almost 85 points or 1.1 percent. The Jakarta Composite Index now sits just above the 7,925-point plateau although it's looking at a soft start on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

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Hong Kong Shares May Be Stuck In Neutral On Tuesday

The Hong Kong stock market has moved higher in two straight sessions, improving more than 825 points or 3.4 percent along the way. The Hang Seng Index now rests just beneath the 25,830-point plateau although it may open under pressure on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | hace 44 minutos

Australian Market Modestly Lower

The Australian stock market is trading modestly lower on Tuesday, recouping the slight gains in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 8,950 level, with weakness in iron ore miners, financial and technology stocks partially offset by gains gold miners.

RTTNews | hace 46 minutos

China Stock Market Due For Consolidation

The China stock market has moved higher in four straight sessions, advancing almost 160 points or 4.4 percent along the way. The Shanghai Composite Index now sits just above the 3,880-point plateau although it may see profit taking on Tuesday.

RTTNews | hace 59 minutos

Taiwan Bourse May Hand Back Monday's Gains

The Taiwan stock market bounced higher again on Monday, one session after ending the two-day winning streak in which it had gained more than 600 points or 2.6 percent. The Taiwan Stock Exchange now rests just above the 24,275-point plateau although it's expected to open to the downside on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water. For the day, the index surged 512.91 points or 2.16 points to finish at 24,277.38 after trading between 24,108.75 and 24,362.02. Among the actives, Mega Financial and United Microelectronics Corporation both eased 0.12 percent, while Fubon Financial jumped 1.93 percent, E Sun Financial and Formosa Plastics both sank 0.74 percent, Taiwan Semiconductor Manufacturing Company accelerated 3.08 percent, Hon Hai Precision rallied 2.47 percent, Largan Precision added 0.42 percent, MediaTek soared 3.30 percent, Novatek Microelectronics climbed 1.18 percent, Nan Ya Plastics surged 3.53 percent, Asia Cement gained 0.40 percent and Cathay Financial, CTBC Financial and Catcher Technology were unchanged.

RTTNews | hace 1h 29min

Singapore Stock Market Tipped To Open In The Red

The Singapore stock market has climbed higher in five straight sessions, improving almost 70 points or 1.6 percent along the way. The Straits Times Index now sits just above the 4,255-point plateau although investors may lock in gains on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | hace 1h 58min

Rally May Stall For Malaysia Stock Market

The Malaysia stock market has moved higher in three straight sessions, collecting almost 15 points or 0.9 percent along the way. The Kuala Lumpur Composite Index now sits just above the 1,600-point plateau although it's likely to open to the downside on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | hace 2h 28min

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