European Stocks Close Lower After Cautious Session

RTTNews | 848 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
Australian Market Trims Early Gains In Mid-market

Australian Market Trims Early Gains In Mid-market

The Australian stock market is trimming its early gains in mid-market moves on Wednesday, but extending the gains in the previous three sessions, with the benchmark S&P/ASX 200 staying just above 8,400 level, following the broadly positive cues from Wall Street overnight, with gains in energy and technology stocks and a mixed performance in mining and financial stocks.
RTTNews | 1घंटे 19 मिनट पहले
Asian Markets Mixed Amid Cautious Trades

Asian Markets Mixed Amid Cautious Trades

Asian stock markets are trading mixed on Wednesday, following the broadly positive cues from Wall Street overnight, as traders remain cautious amid the lack of concrete progress toward a broader trade agreement between the US and its trading partners, despite reaching temporary deals with some. The ongoing uncertainty surrounding the US-China trade relations continued to weigh on market sentiment.
RTTNews | 1घंटे 30 मिनट पहले
Sensex, Nifty Seen Opening On Cautious Note

Sensex, Nifty Seen Opening On Cautious Note

Indian shares may open on a flat note Wednesday as investors weigh global uncertainties and await cues from Nvidia's earnings results and the release of minutes from the Federal Reserve May meeting.
RTTNews | 2घंटे 12 मिनट पहले
Rebound Predicted For Thai Stock Market

Rebound Predicted For Thai Stock Market

The Thai stock market on Tuesday snapped the two-day winning streak in which it had gained more than 5 points or 0.5 percent. The Stock Exchange of Thailand now rests just above the 1,160-point plateau, although it's likely to open to the upside on Wednesday.
RTTNews | 2घंटे 44 मिनट पहले
Indonesia Stock Market Poised To Open To The Upside

Indonesia Stock Market Poised To Open To The Upside

The Indonesia stock market bounced higher again on Tuesday, one day after ending the three-day winning streak in which it had climbed more than 120 points or 1.7 percent. more than 120 points or 1.7 percent along the way. The Jakarta Composite Index now rests just beneath the 7,200-point plateau and it may extend its gains on Wednesday.
RTTNews | 3घंटे 14 मिनट पहले
Japanese Market Notably Higher

Japanese Market Notably Higher

The Japanese stock market is trading notably higher on Wednesday, extending the gains in the previous three sessions, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving above the 38,000 mark, with gains across most sectors led by index heavyweights and technology stocks.
RTTNews | 3घंटे 15 मिनट पहले
Higher Open Called For Hong Kong Stock Market

Higher Open Called For Hong Kong Stock Market

The Hong Kong stock market has alternated between positive and negative finishes through the last four trading days since the end of the two-day winning streak in which it had rallied almost 500 points or 2.2 percent. The Hang Seng Index now sits just above the 23,380-point plateau and it has a solid lead again for Wednesday's trade.
RTTNews | 3घंटे 29 मिनट पहले