DAX Struggles For Direction As Rate Cut Hopes Fade

RTTNews | 553 days ago
DAX Struggles For Direction As Rate Cut Hopes Fade

(RTTNews) - German stocks were little changed on Thursday as U.S. rate uncertainty persisted and Israel vowed to press ahead with military offensive in Gaza until achieving "absolute victory."

The benchmark DAX was marginally lower at 16,907 after falling around 0.7 percent the previous day.

The euro rose against a basket of major rivals, extending gains for a third straight session against the dollar after several ECB officials warned central banks need to move carefully on cutting interest rates this year.

ECB member Isabel Schnabel said in an interview with the Financial Times that recent data and market bets on quick rate cuts mean the central bank needs to be patient before easing policies.

In corporate news, Siemens declined 1.6 percent after two of its largest investors called for the German engineering group to simplify its operations. Meanwhile, the company's Q1 net profit beat expectations.

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Swiss Market Ends Modestly Higher After Mild Struggle

Swiss Market Ends Modestly Higher After Mild Struggle

The Switzerland market recovered after a flat start on Thursday, and after staying positive till well past noon, suffered a setback but regained some strength to eventually end the day's session modestly higher.
RTTNews | 1h 53min ago
Major European Markets Close On Positive Note

Major European Markets Close On Positive Note

Amid expectations of a rate cut from the Federal Reserve in September, and hopes the meeting between the Presidents of the U.S. and Russia will help end the war in Ukraine, the major European markets closed on a positive note on Thursday, although the U.K. market underperformed other major markets in the region.
RTTNews | 2h 9min ago
U.S. Producer Price Growth Far Exceeds Estimates In July

U.S. Producer Price Growth Far Exceeds Estimates In July

Producer prices in the U.S. increased by much more than expected in the month of July, the Labor Department revealed in a report released on Thursday. The Labor Department said its producer price index for final demand shot up by 0.9 percent in July after coming in unchanged in June. Economists had expected producer prices to rise by 0.2 percent.
RTTNews | 4h 37min ago
U.S. Weekly Jobless Claims Unexpectedly Dip To 224,000

U.S. Weekly Jobless Claims Unexpectedly Dip To 224,000

The Labor Department released a report on Thursday unexpectedly showing a modest decrease by first-time claims for U.S. unemployment benefits in the week ended August 9th. The report said initial jobless claims dipped to 224,000, a decrease of 3,000 from the previous week's revised level of 227,000.
RTTNews | 5h 9min ago
UK GDP Rises More Than Expected

UK GDP Rises More Than Expected

The UK economy expanded more than expected in the second quarter but the overall growth softened as US frontloading propelled growth at the start of the year. Gross domestic product expanded 0.3 percent in the second quarter largely driven by growth in the service sector, the Office for National Statistics reported Thursday. Although the rate was stronger than the expected growth of 0.1 pe
RTTNews | 5h 50min ago
Bay Street Likely To Open On Mixed Note

Bay Street Likely To Open On Mixed Note

Canadian shares are likely to open on a mixed note Thursday morning, reacting to data showing a bigger than expected increase in U.S. producer price index, and mixed batch of earnings data from Canada. Oil prices are up, while metals are exhibiting weakness.
RTTNews | 6h 21min ago
S&P Sees Limited Impact From U.S. Tariffs On Indian Economy, Raises Ratings

S&P Sees Limited Impact From U.S. Tariffs On Indian Economy, Raises Ratings

S&P Global Ratings upgraded India's sovereign ratings on Thursday citing a buoyant economic growth, enhanced monetary policy conditions and the government's fiscal consolidation commitment, while the higher tariffs from the U.S. administration is estimated to have only limited impact on the economy. India's sovereign credit ratings were raised to 'BBB' from 'BBB-', with a 'stable' outlook.
RTTNews | 6h 25min ago