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DAX Edges Higher Despite Weak China Data
(RTTNews) - German stocks edged higher on Tuesday even as a slew of economic data showed China's economic recovery is losing momentum.
Closer home, the German ZEW economic sentiment survey results for May and Eurozone GDP data are awaited later in the day.
The benchmark DAX was up 23 points, or 0.2 percent, at 15,946 after edging up marginally in the previous session.
Automakers slipped, with Daimler, Mercedes Benz and Volkswagen all falling around 1 percent on China recovery concerns.
Infineon rallied 2.3 percent after the semiconductor company bought Stockholm-based startup Imagimob AB for an undisclosed sum.
Hornbach Holding plunged 8.5 percent after saying it expects sales to remain more or less flat in 2023/24.
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Swiss Shares Extend Losing Streak
The Swiss stock market closed under pressure again on Tuesday, stretching its losing streak to three sessions while giving up more than 130 points or 1.1 percent in that span.
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Eurozone Inflation Path Suggests ECB Unlikely To Cut Rates Further
Euro area inflation modestly accelerated to a four-month high, and the core figure was steady around the 2 percent target in August as a slight slowing in both food price growth and services inflation was offset by a smaller decline in energy prices, which suggests that the European Central Bank is set to hold interest rates steady in future policy sessions.
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European Markets Finish In The Red On Tuesday
The major European markets finished firmly under water on Tuesday after Eurostat data showed Eurozone inflation rose to 2.1 percent last month, climbing above the European Central Bank's 2 percent target for the first time since April driven by higher prices for food, alcohol and tobacco.
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U.S. Construction Spending Unexpectedly Edges Lower In July
A report released by the Commerce Department on Tuesday showed construction spending in the U.S. unexpectedly edged slightly lower in the month of July. The Commerce Department said construction spending slipped by 0.1 percent to an annual rate of $2.139 trillion in July after falling by 0.4 to a revised rate of $2.141 trillion in June.
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Domino's Launches Two New Delectable Bread Bites Flavors
Domino's Pizza, the largest pizza company in the world, announced the launch of two new Bread Bite flavors: Cinnamon and Garlic, to join Domino's Parmesan Bread Bites, adding to its line of oven-baked mouthwatering options for customers to enjoy.
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U.S. Manufacturing Index Inches Up In Line With Estimates In August
The Institute for Supply Management released a report on Tuesday showing a slight increase by its reading on U.S. manufacturing activity in the month of August, although the index still indicated the sixth consecutive month of contraction.
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FTSE 100 Slips As Yields Spike, Sterling Plunges
The FTSE 100 benchmark of the London Stock Exchange dropped close to a percent amidst renewed concerns about the fiscal situation in the U.K.
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CAC 40 Slips Amidst Fiscal Concerns
A renewed focus on the fiscal situation in France dampened sentiment for the CAC 40 benchmark that tracks the 40 largest French stocks based on the Euronext Paris.
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