European Shares Extend Losses On Rate Worries, Mixed China Data

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(RTTNews) - European stocks extended declines on Friday after having snapped a nine-day winning streak the previous day.

Interest-rate worries were back in focus after three Federal Reserve officials said the U.S. central bank should keep borrowing costs high for longer.

China reported mixed economic data, but the country's central bank moved again to help the struggling property sector, helping ease concerns around economic recovery. Closer home, Eurozone CPI was finalized at 2.4 percent year-on-year in April, unchanged from March's reading.

Earlier today, ECB Vice-President Luis de Guindos said that inflation in the Eurozone will move near its target of 2 percent in 2025.

Elsewhere, delivering a speech on the state of the economy, U.K. chancellor Jeremy Hunt promised further tax cuts if the Conservatives win the general election.

The pan European STOXX 600 was down 0.3 percent at 522.10 after declining 0.2 percent on Thursday.

The German DAX shed 0.4 percent, France's CAC 40 dropped half a percent and the U.K.'s FTSE 100 was down 0.3 percent.

In corporate news, Swiss luxury goods maker Richemont surged 5.3 percent after announcing several changes to its board and management team.

Electrolux dropped 1 percent. The consumer electronics major has reannounced its previous recall of Frigidaire and Kenmore electric ranges following multiple reports of fires and injuries.

British property development firm Land Securities fell 2.3 percent after annual earnings from rental income dropped to £371 million from £393 million in 2023.

Consumer goods giant Unilever rose half a percent after launching its €1.5bn share buyback program.

French re-insurer SCOR SE slumped 8 percent after first-quarter Group net income fell 36.8 percent to 196 million euros from last year's 311 million euros.

ENGIE declined 1.6 percent. The utility reported a marginal decline in EBIT earnings for the first quarter, hit by declining sales in almost all segments.

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 | il y a 10 minutes

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 | il y a 40 minutes

Japan Stock Market May Spin Its Wheels On Tuesday

The Japan stock market has moved higher in back-to-back sessions, gathering almost 200 points or 0.5 percent along the way. The Nikkei 225 now rests just above the 42,800-point plateau although it may be stuck in neutral 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. The Nikkei finished modestly higher on Monday following gains from the financial shares, weakness from the technology stocks and a mixed picture from the automobile companies. For the day, the index advanced 174.53 points or 0.41 percent to finish at 42,807.82 after trading between 42,681.37 and 43,201.42. Among the actives, Nissan Motor accelerated 3.15 percent, while Mazda Motor shed 0.55 percent, Toyota Motor eased 0.10 percent, Honda Motor climbed 1.01 percent, Softbank Group soared 3.53 percent, Mitsubishi UFJ Financial dipped 0.11 percent, Mizuho Financial collected 0.79 percent, Sumitomo Mitsui Financial added 0.41 percent, Mitsubishi Electric rose 0.35 percent, Sony Group slumped 1.11 percent, Panasonic Holdings lost 0.49 percent and Hitachi fell 0.24 percent.

RTTNews | il y a 55 minutes

KOSPI May Run Out Of Steam On Tuesday

The South Korea stock market has tracked higher in three straight sessions, collecting almost 80 points or 2.6 percent along the way. The KOSPI now sits just shy of the 3,210-point plateau although it's due for consolidation 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 | il y a 1h 10min