European Shares Decline On Downbeat Earnings; ECB Decision Eyed

RTTNews | il y a 597
European Shares Decline On Downbeat Earnings; ECB Decision Eyed

(RTTNews) - European stocks fell on Thursday as downbeat earnings from the likes of WPP, Unilever, Mercedes Benz and BNP Paribas added to concerns around elevated bond yields and the Middle East tensions.

Investors also await the ECB rate decision and President Christine Lagarde' press conference for clarity on the outlook for rates.

The central bank is expected to keep its key interest rate unchanged at a record 4 percent high against the backdrop of cooling inflation and faltering growth.

The pan-European STOXX 600 was down 0.9 percent at 431.18 after ending little changed with a positive bias on Wednesday.

The German DAX gave up 1.4 percent, France's CAC 40 fell about 1 percent and the U.K.'s FTSE 100 was down 0.6 percent.

German luxury carmaker Mercedes-Benz slumped 5.3 percent after saying it expects pressure on car sales margins. Peer BMW tumbled 2.8 percent and Renault declined 2.5 percent.

Chip systems manufacturer Aixtron rose about 1 percent after reporting a significant increase in third-quarter net profit and revenue.

Meal-kit maker HelloFresh plummeted almost 12 percent after reporting revenue below expectations for the third quarter.

French lender BNP Paribas fell 3.8 percent after posting a fall in third-quarter net profit on higher expenses.

Food group Danone rose 2 percent after lifting its 2023 revenue growth forecast.

Sodexo jumped 6.3 percent. The catering and food services group said it plans to list its voucher and benefits division Pluxee early in 2024.

Carrefour, Europe's largest food retailer, surged 4 percent after reporting higher third-quarter sales and backing its full-year targets.

Energy stocks such as BP Plc and Shell were moving lower as crude prices declined amid diplomatic efforts to prevent the Israel-Gaza conflict from spreading.

British lender Standard Chartered plunged 11 percent after reporting a sharp drop in quarterly profit, partly due to $900mn of China-linked charges.

Precision instruments manufacturer Renishaw fell about 1 percent after a profit warning.

Consumer goods giant Unilever tumbled 3 percent after its new CEO laid out plans to simplify business.

Advertising giant WPP lost over 3 percent after cutting its outlook for the second time in as many quarters.

read more
Canadian Dollar Higher Amid Rising Oil Prices

Canadian Dollar Higher Amid Rising Oil Prices

The Canadian dollar advanced against its most major counterparts in the New York session on Friday amid a spike in oil prices after Israel launched fresh wave of attacks on Iran.
RTTNews | il y a 11h 47min
Swiss Stock Market Heads South On Friday

Swiss Stock Market Heads South On Friday

The Swiss stock market turned lower again on Friday, one day after snapping the two-day slide in which it had given up more than 50 points or 0.4 percent.
RTTNews | il y a 13h 45min
U.S. Consumer Sentiment Improves Much More Than Expected In June

U.S. Consumer Sentiment Improves Much More Than Expected In June

Preliminary data released by the University of Michigan on Friday showed a substantial improvement by consumer sentiment in the U.S. in the month of June. The University of Michigan said its consumer sentiment index surged to 60.5 in June after holding at 52.2 in May. Economists had expected the index to rise to 53.5.
RTTNews | il y a 17h 13min
CPSC Recalls: 1.2 Mln Anker Power Banks, Hedge Trimmers, High Chairs, Mattresses, Pool Covers

CPSC Recalls: 1.2 Mln Anker Power Banks, Hedge Trimmers, High Chairs, Mattresses, Pool Covers

The U.S. Consumer Product safety Commission or CPSC has announced various recalls including around 1.2 million Anker Power Banks, as well as hedge trimmers, high chairs, mattresses, pool covers and Skywalker Pro Via Ferrata Sets. China- based Anker Innovations Limited has called back about 1.16 million units of power banks citing fire and burn risks, and TTI Outdoor Power Equipment recalled...
RTTNews | il y a 17h 36min
FTSE 100 Falls Amidst Israel-Iran Conflict

FTSE 100 Falls Amidst Israel-Iran Conflict

Renewed geopolitical tensions from the Israel-Iran conflict weighed on sentiment for the FTSE 100 benchmark as it shed more than a quarter percent in Friday's trade.
RTTNews | il y a 19h 27min
Eurozone Trade Surplus Declines To 3-Month Low

Eurozone Trade Surplus Declines To 3-Month Low

Eurozone trade surplus declined to a three month low in April as demand from the US softened following tariff hikes, official data revealed on Friday. The trade surplus declined to EUR 9.9 billion in April from EUR 37.3 billion in March, Eurostat reported. This was the lowest surplus since January. In the same period last year, the surplus totalled EUR 13.6 billion.
RTTNews | il y a 19h 41min
Geopolitical Tensions Drag Down CAC 40

Geopolitical Tensions Drag Down CAC 40

An escalation in geopolitical tensions in the Middle East triggered by the Israel-Iran conflict weighed on market sentiment dragging down the CAC 40. Concerns about the trade dispute between the U.S. also weighed on sentiment.
RTTNews | il y a 20h 23min