European Shares Edge Higher; Economy-sensitive Stocks Shine

RTTNews | il y a 1118

(RTTNews) - European stocks edged higher in cautious trade on Monday, with economy-sensitive stocks leading advances following some positive data from China and the United States.

Sentiment was also underpinned after a survey showed investor morale in the euro zone edged up slightly in August from the previous month.

Sentix's index for the 19-country currency block rose to -25.2 points from -26.4 in July.

"The economic situation in the Eurozone remains difficult. A recession is still very likely amid weak consumer confidence, inflation and high energy prices," Sentix noted.

After the July surge in U.S. non-farm payroll employment raised the odds of a third 75 basis-point rate hike in September, investors now looked ahead to the release of U.S. inflation data and U.K. GDP data this week for further direction.

The pan European Stoxx 600 rose half a percent to 438 after losing 0.8 percent on Friday. The German DAX gained 0.3 percent, France's CAC 40 index climbed 0.6 percent and the U.K.'s FTSE 100 added 0.3 percent.

Miners traded mixed despite robust exports data from China.

Oil & gas firm BP Plc rose half a percent and Shell added 0.3 percent.

Page Group slumped 7 percent in London after the recruiter noted a "slight slowing in time to hire" in July across some of its markets.

Joules jumped 50 percent after saying that it is in discussion with larger rival Next for the latter to take a strategic stake in the struggling British fashion chain.

French utility Veolia gained 1 percent after it confirmed a deal to sell Suez's U.K. waste business to Australia's Macquarie Group for around 2.4 billion euros ($2.4 billion).

German engineering-services company Bertrandt added 1 percent after reporting higher net profit and revenue in the first nine months of fiscal year.

Telecommunications provider Q.beyond fell about 1 percent after reporting a loss in the second quarter.

Siemens Energy, the supplier of equipment to the power industry, lost 1.5 percent after widening its quarterly loss.

U.S. Dollar Falls Against Most Majors

The U.S. dollar weakened against its most major counterparts in the New York session on Friday.

RTTNews | il y a 13h 52min

German Inflation Accelerates To 2.2% In August

Consumer price inflation in Germany climbed in August to its highest level in five months, while the core figure was steady amid an acceleration in food price growth, and weakened chances for further easing from the European Central Bank in the near term.

RTTNews | il y a 15h 11min

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 17h 25min

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 18h 1min

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 18h 30min

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 21h 14min

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 21h 33min

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 22h 16min

EURUSD	1.1684	GBPUSD	1.34987	AUDUSD	0.6538
USDJPY	147.04	USDCAD	1.3741	USDCHF	0.80047