DAX Moves In Tight Range; Earnings, Fed Policy Announcement In Focus

RTTNews | il y a 1

(RTTNews) - German stocks are turning in a mixed performance on Wednesday with investors mostly reacting to corporate earnings announcements and awaiting the Federal Reserve's interest rate decision due later in the day. The European Central Bank is scheduled to announce its monetary policy on Thursday.

Investors are also looking ahead to the meeting of U.S. President Donald Trump and Chinese President Xi Jinping, scheduled to take place tomorrow.

The benchmark DAX was down 3.19 points or 0.01% at 24,280.39 a little while ago.

Mercedes-Benz Group shares are up 5.3%. Mercedes-Benz Group's net profit dropped to 1.19 billion euros in the third quarter, down 30.8 from last year's 1.72 billion euros. Looking ahead, for fiscal 2025, the company continues to expect Group EBIT significantly below last year's 13.6 billion euros, and revenues significantly below last year's 145.6 billion euros.

BASF is gaining nearly 4% after the company announced a €1.5 billion share buyback and reported stronger-than-expected third-quarter earnings, helped by government grants and gains in its Surface Technologies division.

BMW is up 2.3%, Volkswagen, Porsche Automobil Holding, Commerzbank and Siemens Energy are gaining 1 to 1.35%.

Deutsche Bank is up marginally. The lender reported a net profit of 1.56 billion euros for the third quarter of its current fiscal year, up 7% compared to 1.46 billion euros in the year-ago quarter. Looking ahead, for fiscal 2025, the bank continues to expect revenues of around 32 billion euros.

Adidas is down by a little over 1%. The company has reported a marginal increase in third-quarter net income at 485 million euros, compared to 476 million euros, a year ago. Earlier this month, the company upgraded full-year financial guidance, saying it expects around 9% increase in revenue.

SAP is down 1.7%. MTU Aero Engines is declining by 1.6% and GEA Group is down by about 1%. Symrise, Rheinmetall, Allianz, Beiersdorf, Vonovia and Munich RE are down 0.5 to 0.7%.

ECB Holds Interest Rates Steady Amid Uncertain Outlook

The European Central Bank maintained its key interest rates unchanged for a third policy session in a row on Thursday, as expected, as policymakers assessed that the outlook was broadly unchanged, but still uncertain due to global trade conflicts and geopolitical tensions.

RTTNews | il y a 3h 28min

Eurozone GDP Growth Beats Expectations

The euro area economy expanded at a faster pace in the third quarter as France and Spain reported strong growth, while Germany and Italy experienced stagnation, amid a highly uncertain outlook due to the ongoing trade policies and political instability. Gross domestic product climbed 0.2 percent sequentially in the September quarter, preliminary flash estimate from Eurostat showed on Thursday.

RTTNews | il y a 4h 13min

Bay Street Likely To Open Weak

Weak commodity prices, lower European stocks and U.S. and Canadian futures point to a negative start for the Canadian market on Thursday. The Federal Reserve and Bank of Canada lowered interest rates on Wednesday but have ruled out the possibility of another cut this year.

RTTNews | il y a 5h 5min

German Economy Stagnates On Weaker Exports; Unemployment Falls

The German economy stagnated in the third quarter, narrowly dodging a recession as higher U.S. tariffs damped exports and the optimism about the fiscal stimulus faded, while unemployment logged an unexpected moderate fall. Gross domestic product remained unchanged, as expected, following a revised decline of 0.2 percent in the second quarter, the preliminary estimate from Destatis revealed on T

RTTNews | il y a 5h 9min

FTSE 100 Moderately Lower; WPP Tanks On Lower Earnings, Forecast

The UK stock market is down in negative territory on Thursday, mirroring the trend in other major European markets, as investors react to the latest batch of earnings announcements from the domestic and global front, and some regional economic data.

RTTNews | il y a 5h 57min

CAC 40 Drifts Lower; Investors React To Earnings And Await ECB Policy

France's benchmark index CAC 40 is down in negative territory on Thursday with investors reacting to a slew of earnings updates and regional economic data, the Federal Reserve's interest rate cut and the warning that no further reduction is likely this year.

RTTNews | il y a 6h 54min

Sensex, Nifty Decline On Hawkish Fed Remarks

Indian shares fell notably on Thursday as investors reacted to hawkish comments from Federal Reserve Chair Jerome Powell, mixed earnings results from mega-cap U.S. technology companies and the latest updates from U.S.-China trade negotiations.

RTTNews | il y a 7h 36min

DAX Down Nearly 6% On Mixed Earnings Updates

German stocks are showing some weakness on Thursday with investors mostly making cautious moves after Federal Reserve Chair Jerome Powell's caution that another interest rate cut by the central bank is unlikely this year.

RTTNews | il y a 7h 41min

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