European Markets Mostly Higher As Commodity Stocks Surge On China Optimism

RTTNews | il y a 623

(RTTNews) - European markets were mostly higher on Friday despite the more cautious stances from the European Central Bank and the Bank of England.

ECB policymaker Francois Villeroy de Galhau told Boursorama television today that the next move should be lowering rates from record highs.

Commodity-related stocks surged after mixed economic data and positive signals from policymakers in China.

In economic releases, a survey showed the down in Eurozone business activity deepened in December.

The HCOB Flash Eurozone purchasing managers' index (PMI) published by S&P Global dropped to 47 from 47.6 in November.

Elsewhere, France's consumer price inflation slowed in November but exceeded the initial estimate, final data released by the statistical office INSEE showed.

Consumer price inflation eased to 3.5 percent in November from 4.0 percent in October. The initially estimated rate was 3.4 percent.

The latest inflation figure was the weakest since January 2022.

The pan European STOXX 600 was up 0.3 percent at 478.01 after rising 0.9 percent to close at a 22-month high on Thursday.

The German DAX climbed 0.6 percent and France's CAC 40 rose 0.3 percent while the U.K.'s FTSE 100 was marginally lower.

Symrise plunged nearly 9 percent after the German fragrance and flavour maker revised down its adjusted EBITDA margin target for the year.

Munich Re shares rose 1.4 percent. The reinsurance provider announced guidance for 2024, where it expects net profit of 5 billion euros, citing stable operational activities in all business segments.

Clothing major H&M Group gained 1 percent after reporting a rise in its preliminary net sales for the full year.

Swedish technology firm Sectra jumped over 15 percent after reporting better-than-expected second-quarter results.

Italian spirits group Campari lost 3 percent after it agreed to buy historic French cognac house Courvoisier from Beam Suntory for an initial price of $1.20 billion (€1.11 billion).

Telecom Italia SpA advanced 1.6 percent after extending a deadline for KKR's final offer for its submarine cable unit Sparkle.

Miners Anglo American, Antofagasta and Glencore all rose about 3 percent on news of relaxation of home purchase restrictions in Beijing and Shanghai.

Oil & gas giant BP Plc rose 0.8 percent and rival Shell added 0.9 percent as oil extended gains for a third consecutive session and remained on track to snap a seven-week losing streak.

Canadian Market Up In Positive Territory; BRP Rises Sharply On Strong Earnings

Despite weak GDP data, the Canadian market is up firmly in positive territory Friday afternoon with stocks from materials and healthcare sectors contributing significantly to the gains.

RTTNews | il y a 2h 7min

Swiss Market Ends Modestly Lower

Save for a very brief while early on in the session, and for less than an hour a little past mid afternoon, the Switzerland market stayed in negative territory on Friday with investors largely staying cautious due to a lack of positive triggers.

RTTNews | il y a 2h 43min

European Stocks Close Lower On Geopolitical Tensions

European stocks closed lower on Friday, weighed down by geopolitical concerns due to rising clashes in Gaza and Ukraine, and political uncertainty in France. Investors also digested the latest batch of economic data, including the closely watched U.S. personal consumption expenditure report.

RTTNews | il y a 3h 12min

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 | il y a 5h 56min

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 | il y a 6h 15min

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 | il y a 6h 58min

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 | il y a 7h 28min

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 | il y a 7h 40min

EURUSD	1.1696	GBPUSD	1.35127	AUDUSD	0.65442
USDJPY	147.002	USDCAD	1.37382	USDCHF	0.8002