European Shares Slip Into Red On Rate Hike Worries

RTTNews | il y a 580
European Shares Slip Into Red On Rate Hike Worries

(RTTNews) - European stocks fell on Friday as hawkish comments from Fed, ECB and BoE officials dented hopes that interest rate hikes are finished.

Investors were also reacting to data showing that the U.K. economy failed to grow between July to September but avoided the start of a recession.

GDP was flat in the third quarter for the first time this year, avoiding an expected decline, official data showed.

The pan European STOXX 600 dropped 0.7 percent to 444.49 after gaining 0.8 percent on Thursday.

The German DAX gave up 0.6 percent, France's CAC 40 shed 0.8 percent and the U.K.'s FTSE 100 lost 0.9 percent.

Danish pharmaceutical giant Novo Nordisk rose about 1 percent after it announced plans to invest $6 billion to boost output.

GN Store Nord soared 10.5 percent after posting better-than-expected third-quarter results.

Swiss luxury group Richemont tumbled 5.6 percent after reporting weaker-than-expected earnings.

Lower metal prices weighed on metal stocks, with Anglo American and Antofagasta both falling over 2 percent.

Drinks group Diageo plummeted 12 percent after a warning that growth in operating profits will slow in the first half.

Homebuilder Redrow tumbled 6.4 percent after saying it expects annual profit and revenue to be at the lower end of its forecast range.

SCOR SE, a tier 1 reinsurance company, plunged 9 percent in Paris after quarterly gross written premium declined to 4.87 billion euros from 5.14 billion euros last year.

German insurer Allianz rallied 2.5 percent after confirming its 2023 operating profit target.

read more
GameStop Shares Plunge After Plan To Raise $1.75 Bln

GameStop Shares Plunge After Plan To Raise $1.75 Bln

Shares of GameStop Corp. plunged around 11 percent in the extended trading on Wednesday and are currently trading 13 percent lower in the pre-market activity on the NYSE, after the company announced plan to raise $1.75 billion again in private offering, probably for Bitcoin purchase. GameStop's shares had declined sharply in March after the firm announced a $1.3 billion private offering.
RTTNews | il y a 56 minutes
DAX Down Sharply As Trade Concerns, Middle East Tensions Hurt Sentiment

DAX Down Sharply As Trade Concerns, Middle East Tensions Hurt Sentiment

German stocks are notably lower on Thursday, weighed down by trade tensions and escalating tensions in the Middle East. Amid a lack of specifics in the much talked about framework agreement, it is feared that the U.S.-China trade tensions may not subside any significantly for now.
RTTNews | il y a 1h 59min
UK Economy Contracts Most Since 2023

UK Economy Contracts Most Since 2023

The UK economy contracted at the fastest pace in 18 months in April as the end of stamp duty holiday, tax hike on businesses and higher US trade tariffs damped the positive momentum seen at the start of the year. Real gross domestic product declined 0.3 percent month-on-month in April, following a growth of 0.2 percent in March, the Office for National Statistics reported Thursday.
RTTNews | il y a 2h 29min
FDA Upgrades Medtronic Recall Of Newport Ventilators To Class I

FDA Upgrades Medtronic Recall Of Newport Ventilators To Class I

Medical devices maker Medtronic plc has urged customers to discontinue clinical use of the recently recalled certain Newport branded ventilators and certain related service parts after the U.S. Food and Drug Administration upgraded it to a Class I recall. According to the FDA, a Class I recall is the most serious type of recall, a situation where the use of, or exposure to, a violative product...
RTTNews | il y a 3h 47min