European Stocks Rise On Bargain Hunting, Optimism Over Nvidia Results

RTTNews | il y a 657

(RTTNews) - European stocks are up firmly in positive territory on Tuesday amid expectations of a good earnings update from U.S. technology major Nvidia, and preliminary reports on manufacturing activity in the month of August.

A drop in bond yields is contributing as well to the positive mood in the stock markets. Several stocks have moved higher on bargain hunting after recent sharp losses.

Investors are also looking ahead to the upcoming Jackson Hole Symposium in Wyoming, where central bankers are meeting on Thursday. Federal Reserve Chairman Jerome Powell is scheduled to speak on Friday.

The pan European Stoxx 600 is up 1.15%. The U.K.'s FTSE 100 is gaiing 0.63%, Germany's DAX is up 1.05% and France's CAC 40 is advancing 1.2%, while Switzerland's SMI is up 0.8%.

In the UK market, Anglo American Plc, Rio Tinto, JD Sports Fashion and Antofagasta are gaining 2 to 2.6%.

CRH, Fresnillo, Kingfisher, Glencore, Centrica, Land Securities, Royal Mail, Segro, Tayler Wimpey, Flutter Entertainment and M&G are advancing 1.2 to 1.8%. Vodafone, Barratt Developments and Smurfit Kappa Group are also notably higher.

In Paris, STMicroElectronics is up nearly 3%. Eurofins Scientific, ArcelorMittal, Essilor, Dassault Systemes, Renault, Veolia, Capgemini, Credit Agricole, Legrand and Alstom are rising 1.7 to 2.8%.

BNP Paribas, Societe Generale, Michelin, Carrefour, Kering, Bouygues, Air Liquide, Stellantis and Airbus are also up with strong gains.

In the German market, Infineon is rising nearly 3.5%. Vonovia is up 3.25%, while SAP, Puma and Siemens Energy are gaining 2.2 to 2.5%.

Adidas, Qiagen, Sartorius, HeidelbergCement, Symrise, BMW, Siemens, Allianz and Deutsche Bank are up 1 to 2%.

In economic news, data from the European Central Bank showed the eurozone recorded a current account surplus of EURO 36.8 billion in June, as against a revised EURO 4.4 billion deficit in the same month last year.

Data released by the Office for National Statistics showed public sector net borrowing in the UK was £3.5 billion in July 2023, up from £0.1 billion in the same month last year.

Public sector net borrowing excluding banks in the UK was £4.3 billion in July 2023, up from £0.9 billion in the same month last year and below market forecasts of £5.0 billion, the data showed.

Canadian Market Up Marginally In Cautious Trade

After a flat start and a subsequent drop to lower levels, the Canadian market emerged into positive territory about an hour past noon on Monday, but remains somewhat subdued with investors seeming reluctant to make significant moves. The mood is cautious as investors await U.S. - China trade talks in London.

RTTNews | il y a 35 minutes

European Stocks Close Weak After Cautious Session

European markets settled lower on Monday after a subdued performance as investors awaited the outcome of U.S.-China high-level trade talks in London. Also, a lack of regional economic data and earnings news contributed to the cautious mood in the markets.

RTTNews | il y a 1h 3min

FDA, CDC Probe Salmonella Outbreak As Around 1.70 Mln Dozen Brown Eggs Recalled

The U.S. Food and Drug Administration and the Centers for Disease Control and Prevention or CDC are investigating a Salmonella Enteritidis outbreak linked to brown eggs that sickened nearly 79 across 7 states. Associated with the ongoing probe, August Egg Co. recalled around 1.70 million dozen brown cage-free and brown certified organic eggs sold through Walmart and other retail locations.

RTTNews | il y a 4h 49min

Bay Street May Open Slightly Higher

Canadian shares may open slightly higher on Monday amid optimism about some positive progress in U.S.-China trade talks. Energy stocks are likely to find some support on higher crude oil prices.. The U.S.-China discussions will aim to resolve some major trade disputes between the two major economies.

RTTNews | il y a 6h 41min

FTSE 100 Down Marginally At Noon

The U.K. market is down marginally at noon on Monday with investors mostly making cautious moves amid a lack of triggers. The focus is on trade talks between the U.S. and Chinese officials in London. Weak Chinese exports data weighs on sentiment.

RTTNews | il y a 7h 53min

CAC 40 Down Slightly In Lackluster Trade

French stocks are down slightly in lackluster trade on Monday with investors refraining from making significant moves as they await the high-level trade talks between U.S. and Chinese officials in London later in the day.

RTTNews | il y a 8h 14min

DAX Down Over 0.5% In Cautious Trade

German stocks are down in negative territory on Monday as investors make cautious moves while awaiting crucial talks between U.S. and Chinese officials in London later in the day. The discussions will aim to resolve some major trade disputes between the two major economies. Treasury Secretary Scott Bessent leads the U.S. delegation in the high-level trade talks.

RTTNews | il y a 8h 35min

Sensex, Nifty End Modestly Higher; Banks And Financials Surge

Indian shares eked out modest gains on Monday as top officials from the U.S. and China meet in London later in the day to resolve their differences and ease rare-earth mineral tensions.

RTTNews | il y a 8h 45min

EURUSD	1.14262	GBPUSD	1.35622	AUDUSD	0.65247
USDJPY	144.546	USDCAD	1.36773	USDCHF	0.82131

Advertisement

European Stocks Rise On Bargain Hunting, Optimism Over Nvidia Results