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DAX Edges Higher As Exports Rebound

RTTNews | 541 days ago

DAX Edges Higher As Exports Rebound

(RTTNews) - German stocks traded slightly higher on Wednesday after data showed Germany's exports rebounded at a faster-than-expected pace in January.

Exports posted a monthly growth of 6.3 percent in January after falling 4.5 percent in the previous month. This was also far better than economists' forecast of 1.5 percent increase.

Imports advanced 3.6 percent on month, in contrast to the 6.7 percent decrease in December.

Separately, survey results from S&P Global revealed that Germany's construction sector shrank sharply in February, but the pace of decline slowed from the previous month.

The construction Purchasing Manages' Index hit a five-month high of 39.1 in February, up from 36.3 in January.

The benchmark DAX was up 26 points, or 0.2 percent, at 17,724 after closing 0.1 percent lower the previous day.

Symrise AG, a maker of flavors and fragrances, jumped 4.2 percent after its 2023 core profit beat estimates.

DHL owner Deutsche Post lost 4.7 percent after a warning that earnings could remain relatively flat this year.

BASF rose more than 2 percent. The company said it is changing the name of two dispersions plants in China.

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

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 | 2h 43min ago

Chicago Business Barometer Slumps Much More Than Expected In August

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 | 3h 2min ago

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

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 | 3h 45min ago

German Unemployment Exceeds 3 Mln

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 | 4h 15min ago

U.S. PCE Price Index Increased In Line With Estimates In July

U.S. PCE Price Index Increased 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.

RTTNews | 4h 27min ago

Slightly Weak Start Seen For U.S. Stocks; PCE Data In Focus

Slightly Weak Start Seen For U.S. Stocks; PCE Data In Focus

Lower U.S. futures point to a slightly negative start on Wall Street Friday morning.

RTTNews | 4h 43min ago

Lower Futures Pointing To Weak Start On Bay Street; Canadian GDP, US PCE Data In Focus

Lower Futures Pointing To Weak Start On Bay Street; Canadian GDP, US PCE Data In Focus

Lower Canadian and U.S. futures ahead of Canadian GDP data and U.S. personal consumption expenditure report, point to a weak start on Bay Street Friday morning.

RTTNews | 5h 21min ago

Pound Slides Against Majors

Pound Slides Against Majors

The British pound weakened against other major currencies in the European session on Friday, weighed down to a large extent by the weakness in the financial sector, amid reports of likely imposition of windfall tax on banks.

RTTNews | 5h 28min ago

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