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DAX Rebounds As Credit Suisse Gets Lifeline
(RTTNews) - German stocks rebounded on Thursday, with banks leading the surge after Credit Suisse Group AG said it would borrow up to 50 billion Swiss Francs or around $53.7 billion from the Swiss National Bank to pre-emptively strengthen its liquidity.
Investors also awaited a European Central Bank rate decision later in the day.
The benchmark DAX was up 178 points, or 1.2 percent, at 14,910 after tumbling 3.3 percent the previous day.
Lender Commerzbank jumped 4 percent and Deutsche Bank added 2.5 percent after recent heavy losses.
Energy firm Siemens Energy advanced 1.5 percent after announcing a capital increase.
DEUTZ lost almost 4 percent despite more than doubling its FY22 adjusted EBIT.
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Swiss Market Closes On Buoyant Note
The Switzerland market closed on a strong note on Thursday, in line with most of the markets across Europe, amid rising expectations of a rate cut by the Federal Reserve, and easing concerns about tariffs.
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14 minutes ago
European Stocks Close Higher Ahead Of Crucial U.S. Jobs Data
European stocks closed mostly higher on Thursday, with most of the markets in the region gaining for a second straight day amid cooling bond markets. Still, the mood in the markets remained a bit cautious with investors looking ahead to crucial U.S. non-farm payroll data on Friday.
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49 minutes ago
U.S. Services Index Climbs To Six-Month High In August
Service sector growth in the U.S. accelerated by more than anticipated in the month of August, according to a report released by the Institute for Supply Management on Thursday. The ISM said its services PMI rose to 52.0 in August from 50.1 in July, with a reading above 50 indicating growth. Economists had expected the index to inch up to 50.5.
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3h 16min ago
U.S. Labor Productivity Surges 3.3% In Q2, Much More Than Previously Estimated
A report released by the Labor Department on Thursday showed labor productivity in the U.S. surged by much more than previously estimated in the second quarter of 2025. The Labor Department said labor productivity shot up by 3.3 percent in the second quarter compared to the previously reported 2.4 percent jump. Economists had expected the increase in labor productivity to be unrevised.
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3h 34min ago
U.S. Trade Deficit Widens More Than Expected As Imports Spike
With the value of imports spiking, the Commerce Department released a report on Thursday showing the U.S. trade deficit widened more than expected in the month of July. The Commerce Department said the trade deficit shot up to $78.3 billion in July from a revised $59.6 billion in June. Economists had expected the trade deficit to increase to $75.7 billion.
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4h 4min ago
U.S. Jobless Claims Rise More Than Expected To Two-Month High
A day ahead of the release of the more closely watched monthly jobs report, the Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits rose by more than expected in the week ended August 30th. The Labor Department said initial jobless claims climbed to 237,000, an increase of 8,000 from the previous week's unrevised level of 229,000.
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4h 8min ago
U.S. Private Sector Job Growth Slows More Than Expected In August
A report released by payroll processor ADP on Thursday showed private sector employment in the U.S. increased by less than expected in the month of August. ADP said private sector employment rose by 54,000 jobs in August after jumping by an upwardly revised 106,000 jobs in July. Economists had expected private sector employment to rise by 65,000 jobs.
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4h 26min ago
U.S. Labor Productivity Surges Much More Than Previously Estimated In Q2
A report released by the Labor Department showed labor productivity in the U.S. surged by much more than previously estimated in the second quarter of 2025.
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5h 8min ago
