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DAX Dips On Weak Data
(RTTNews) - German stocks were slightly lower on Tuesday after a survey showed consumer confidence in the country weakened for a third consecutive month in November.
The forward-looking GfK index dropped to -28.1 from a revised -26.7 the previous month, as income expectations took a hit.
Meanwhile, the HCOB German manufacturing PMI improved to 40.7 in October from 39.6 in September - still deep in contraction territory. The services PMI fell to 48 from 50.3.
The benchmark DAX was down 47 points, or 0.3 percent, at 14,753 after finishing marginally higher the previous day.
In corporate news, Puma shares jumped nearly 4 percent after the sportswear brand stood by its full-year profit outlook.
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European Economic News Preview: UK Revised GDP Data Due
Revised GDP from the UK is the top economic news due on Monday, headlining a light day for the European economic news. At 2.00 am ET, the Office for National Statistics releases UK GDP data for the third quarter. The initial estimate showed that the economy grew 0.1 percent sequentially, following the prior quarter's 0.3 percent expansion.
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China Keeps Key Interest Rates Unchanged
China maintained its benchmark interest rates for the seventh straight month, as widely expected, on Monday. The People's Bank of China left its one-year loan prime rate unchanged at 3.0 percent on Monday. Likewise, the five-year LPR, the benchmark for mortgage rates, was retained at 3.50 percent. The bank had reduced its both LPRs by quarter points in October 2024.
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Australian Dollar Rises Against Majors
The Australian dollar strengthened against other major currencies in the Asian session on Monday.
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Australian Market Extends Early Gains In Mid-market
The Australian stock market is extending its early gains in mid-market trading on Monday, adding to the gains in the previous two sessions, following the broadly positive cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is moving well above the 8,650.00 level, with gains across most other sectors led by mining and technology stocks.
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Asian Markets Track Wall Street Higher
Asian stock markets are trading mostly higher on Monday, following the broadly positive cues from Wall Street on Friday, boosted by sharp gains in technology shares which mirrored their peers on the tech-heavy Nasdaq amid solid earnings news and easing concerns of a tech bubble. Optimism about more monetary easing by the US Fed following soft inflation data continues to lift the markets.
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Indian Shares Likely To Open On Firm Note
Fairly strong GIFT Nifty and firm Asian markets indicate a positive start for Indian shares on Monday.
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Thai Shares Tipped To Move Higher On Monday
The Thai stock market of Friday ended the three-day losing streak in which it had stumbled more than 20 points or 1.8 percent. The Stock Exchange of Thailand now sits just above the 1,250-point plateau and it's expected to open to the upside again on Monday.
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Indonesia Bourse Poised To Snap Losing Streak
The Indonesia stock market has moved lower in three straight sessions, shedding almost 80 points or 0.9 percent along the way. The Jakarta Composite Index now sits just beneath the 8,610-point plateau although it's due for support on Monday.
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