European Stocks Close Lower After Cautious Session

RTTNews | 837 दिनों पहले
European Stocks Close Lower After Cautious Session

(RTTNews) - Despite coming off early lows, European stocks closed broadly lower on Monday with investors focusing on corporate earnings updates and looking ahead to the upcoming policy meetings of central banks.

The Federal Reserve is scheduled to announce its monetary policy on Wednesday. The bank is widely expected to raise rates by 25 or 50 basis points.

The Bank of England and the European Central Bank are also set to announce their policy statements this week. Both these banks are likely to hike rates by 50 basis points.

The pan European Stoxx 600 ended down 0.17%. Germany's DAX edged down 0.16% and France's CAC 40 ended lower by 0.21%, while the U.K.'s FTSE 100 gained 0.25%. Switzerland's SMI ended 0.42% up.

Among other markets in Europe, Austria, Belgium, Finland, Iceland, Ireland, Netherlands, Norway, Poland, Portugal and Turkiye ended weak.

Spain edged down marginally. Denmark, Greece and Russia closed higher, while Czech Republic and Sweden ended flat.

In the UK market, Standard Chartered ended 3.45% down. Fresnillo drifted down 2.65%, while Prudential, Scottish Mortgage, Legal & General, Barratt Developments, Antofagasta, Persimmon, BT Group, IAG, Ocado Group and Anglo American Plc lost 1 to 2%.

888 Holdings plunged nearly 28%. The betting and gaming company announced the departure of Itai Pazner, its chief executive officer (CEO) and executive director.

The company also said it has suspended VIP activities in some of its .com markets pending the outcome of an internal compliance investigation.

Sainsbury (J) climbed more than 4%. Auto Trader Group, Kingfisher, Reckitt Benckiser, B&M European Value Retail, Halma, Experian, Sage Group, Unilever, Frasers Group, Burberry Group and British American Tobacco gained 1 to 3%.

British IT services company Computacenter climbed nearly 10% after an announcement that it sees 2022 results slightly ahead of guidance.

In Paris, Renault ended more than 4% down. The automaker has agreed with Japanese automotive firm Nissan Motor for a new collaboration to boost their ties.

Stellantis, Arcelor Mittal, Saint Gobain and Alstom lost 0.9 to 1.6%.

TotalEnergies ended notably lower. The energy firm and its Italian partner Eni S.p.A. have completed the transfer of a 30% interest in exploration Blocks 4 and 9 off the coast of Lebanon to QatarEnergy.

Thales, Danone, Kering and Pernod Ricard gained 1 to 1.6%. Orange, Publicis Groupe, Sanofi and Hermes International also closed higher.

In the German market, Continental, Infineon Technologies, Zalando, Mercede Benz and Vonovia lost 2 to 4%. Deutsche Post, BMW and Brenntag also ended notably lower.

SAP, Beiersdorf, HeidelbergCement, Bayer, Merck, Fresenius Medical Care, Puma, Henkel and Siemens Healthineers ended higher by 1 to 2.2%.

Philips surged nearly 7%. The Dutch health technology company said it would scrap another 6000 jobs worldwide after fresh losses caused by a massive recall of faulty sleep respirators.

On the economic front, Eurozone economic confidence strengthened to a seven-month high in January as there were strong improvements across all sectors except construction, survey data from the European Commission showed Monday.

The economic confidence index rose to 99.9 in January from revised 97.1 in the previous month. Sentiment improved for the third consecutive month to hit the highest level since last June, when the reading was 103.1.

At 10.7, the services confidence index reached the highest since June. The score rose from 7.7 in December and economists' forecast of 7.9.

The German economy contracted at the end of the year, damping the possibility of the euro area skirting a technical recession, as suggested by recent surveys.

Gross domestic product logged an unexpected quarterly fall of 0.2%, reversing the revised 0.5% expansion in the third quarter, preliminary data from Destatis revealed Monday. GDP was forecast to remain flat.

A leading indicator for Switzerland's economy rose at the start of the year, for a second month in a row, to its highest level in seven months reflecting a less gloomier outlook, survey data from the Zurich-based KOF Swiss Economic Institute showed Monday.

The KOF Economic Barometer gained 5.7 points to reach a level of 97.2 in January. Economists had forecast a score of 93.3. The December reading was revised to 91.5 from 92.2.

The January score was the highest since June last year, when the reading was 98.1.

read more
U.S. Dollar Higher On Trade Hopes

U.S. Dollar Higher On Trade Hopes

The U.S. dollar appreciated against its major counterparts in the New York session on Friday, as investors focused on developments on the trade front.
RTTNews | 1घंटे 17 मिनट पहले
Swiss Market Ends On Firm Note On Upbeat Industrial Production Data

Swiss Market Ends On Firm Note On Upbeat Industrial Production Data

After a positive start and a subsequent rise to higher levels Friday morning, the Switzerland market remained firm despite paring some gains, and ended the day's session on a bright note. Data showing a sharp jump in Swiss industrial production in the first-quarter aided sentiment.
RTTNews | 3घंटे 6 मिनट पहले
European Stocks Close Week On Positive Note

European Stocks Close Week On Positive Note

European stocks closed higher on Friday thanks to easing trade tensions following the announcement of the U.S.-China deal earlier in the week, and reports that the EU bloc's talks with the U.S. for a reduction in tariffs are making positive progress.
RTTNews | 3घंटे 29 मिनट पहले
Canadian Market Recovers After Weak Start; TSX Up Marginally

Canadian Market Recovers After Weak Start; TSX Up Marginally

Canadian stocks are turning in a mixed performance a little past noon on Friday after recovering from an early setback. Investors appear to be making cautious moves after eight straight days of gains that saw the market climb to a new record high on Thursday.
RTTNews | 4घंटे 17 मिनट पहले
U.S. Consumer Sentiment Unexpectedly Continues To Deteriorate In May

U.S. Consumer Sentiment Unexpectedly Continues To Deteriorate In May

Consumer sentiment in the U.S. has unexpectedly continued to deteriorate in the month of May, according to preliminary data released by the University of Michigan on Friday. The University of Michigan said its consumer sentiment index dipped to 50.8 in May after slumping to 52.2 in April. Economists had expected the index to inch up to 53.4.
RTTNews | 6घंटे 23 मिनट पहले
U.S. Import, Export Prices Unexpectedly Inch Higher In April

U.S. Import, Export Prices Unexpectedly Inch Higher In April

The Labor Department released a report on Friday unexpectedly showing modest increases by both U.S. import and export prices in the month of April. The report said import prices crept up by 0.1 percent in April after falling by a downwardly revised 0.4 percent in March.
RTTNews | 6घंटे 26 मिनट पहले
Eurozone Trade Surplus Surges On Exports To US

Eurozone Trade Surplus Surges On Exports To US

The euro area trade surplus grew strongly in March as exports to the U.S increased sharply ahead of the expected increase in trade tariffs. The trade balance showed a surplus of EUR 36.8 billion compared to a EUR 22.8 billion surplus in the same period last year, Eurostat reported Friday.
RTTNews | 7घंटे 16 मिनट पहले