European Shares Edge Higher; Economy-sensitive Stocks Shine

RTTNews | 1117 दिनों पहले

(RTTNews) - European stocks edged higher in cautious trade on Monday, with economy-sensitive stocks leading advances following some positive data from China and the United States.

Sentiment was also underpinned after a survey showed investor morale in the euro zone edged up slightly in August from the previous month.

Sentix's index for the 19-country currency block rose to -25.2 points from -26.4 in July.

"The economic situation in the Eurozone remains difficult. A recession is still very likely amid weak consumer confidence, inflation and high energy prices," Sentix noted.

After the July surge in U.S. non-farm payroll employment raised the odds of a third 75 basis-point rate hike in September, investors now looked ahead to the release of U.S. inflation data and U.K. GDP data this week for further direction.

The pan European Stoxx 600 rose half a percent to 438 after losing 0.8 percent on Friday. The German DAX gained 0.3 percent, France's CAC 40 index climbed 0.6 percent and the U.K.'s FTSE 100 added 0.3 percent.

Miners traded mixed despite robust exports data from China.

Oil & gas firm BP Plc rose half a percent and Shell added 0.3 percent.

Page Group slumped 7 percent in London after the recruiter noted a "slight slowing in time to hire" in July across some of its markets.

Joules jumped 50 percent after saying that it is in discussion with larger rival Next for the latter to take a strategic stake in the struggling British fashion chain.

French utility Veolia gained 1 percent after it confirmed a deal to sell Suez's U.K. waste business to Australia's Macquarie Group for around 2.4 billion euros ($2.4 billion).

German engineering-services company Bertrandt added 1 percent after reporting higher net profit and revenue in the first nine months of fiscal year.

Telecommunications provider Q.beyond fell about 1 percent after reporting a loss in the second quarter.

Siemens Energy, the supplier of equipment to the power industry, lost 1.5 percent after widening its quarterly loss.

U.S. Consumer Sentiment Deteriorates Slightly More Than Initially Estimated In August

The University of Michigan released a report on Friday showing consumer sentiment in the U.S. deteriorated by slightly more than previously estimated in the month of August. The report said the consumer sentiment index for August was downwardly revised to 58.2 from the preliminary reading of 58.6.

RTTNews | 1घंटे 21 मिनट पहले

Chicago Business Barometer Slumps Much More Than Expected In August

MNI Indicators released a report on Friday showing a sharp pullback by its reading on Chicago-area business activity in the month of August. The report said the Chicago business barometer tumbled to 41.5 in August after jumping to 47.1 in July, with a reading below 50 indicating contraction. Economists had expected the business barometer to edge down to 46.0.

RTTNews | 1घंटे 39 मिनट पहले

U.S. Consumer Prices Increase In Line With Estimates In July

Consumer prices in the U.S. increased in line with economist estimates in the month of July, according to closely watched data released by the Commerce Department on Friday. The Commerce Department said its personal consumption expenditures (PCE) price index rose by 0.2 percent in July after climbing 0.3 percent in June. The uptick matched expectations.

RTTNews | 2घंटे 23 मिनट पहले

German Unemployment Exceeds 3 Mln

Germany's unemployment exceeded the three million-mark for the first time in a decade in August as the prolonged period of subdued economic activity weighed on the labor market. The number of unemployed persons increased by 46,000 from the previous year to 3.025 million in August. However, unemployment fell by adjusted 9,000 compared to the previous month, while it was forecast to increase by 1

RTTNews | 2घंटे 52 मिनट पहले