DAX Up Sharply As Stocks Rally On Hopes Of An End To U.S. Government Shutdown

RTTNews | 1 day ago

(RTTNews) - German stocks are up firmly in positive territory on Monday, rebounding strongly after falling to multi-week lows in the previous session. The mood is quite bullish today following the United States moving a step closer towards ending the historic government shutdown.

The U.S. Senate voted 60-40 to end the longest-running government shutdown, which entered its 40th day on Sunday.

The bipartisan legislation, which would fund most federal agencies through January and guarantee back pay for federal employees affected by the closure, would now go to the House of Representatives for consideration.

The benchmark DAX was up 436.53 points or 1.85% at 23,992.27 a little while ago.

Commerzbank is surging 5.3% after Deutsche Bank upgraded the stock's rating to 'buy'. Siemens Energy is gaining about 5% following a rating upgrade by Jeffereis. Daimler Truck Holding is up 4.5%, Siemens is rising 3.35% and Heidelberg Materials is up 3%.

Hannover Re is up more than 3% after raising its fiscal 2025 outlook. Hannover Re reported lower earnings for the third-quarter of its current financial year. However, nine-month profit increased from last year and the company raised fiscal 2025 outlook. The firm also issued fiscal 2026 profit guidance, expecting growth. For fiscal 2025, the company now expects Group net income of around 2.6 billion euros, higher than previous estimate of around 2.4 billion euros.

Infineon Technologies, Rheinmetall, Zalando, MTU Aero Engines, BASF, Bayer, Munich RE, Deutsche Post, Continental and SAP are also up sharply.

Eurozone investor confidence weakened in November as the economy struggles to emerge from the slump, survey results from the behavioral research institute Sentix showed on Monday.

The investor confidence index fell unexpectedly to -7.4 in November from -5.4 in October. The score was forecast to improve to -3.9.

There is little sign of an autumn upturn in the eurozone, Sentix said.

Both current situation and expectations indices declined at a similar rate. The current situation indicator posted -17.5, down from -16.0 in October. The expectations indicator dropped to 3.3 from 5.8 a month ago.

Swiss Market Ends On Buoyant Note Amid Hopes Of Striking Deal For Lower Tariffs

The Switzerland market closed on a strong note on Tuesday, gaining in strength consistently after opening modestly higher. Investors picked up stocks amid hopes Switzerland will strike a deal with the U.S. to lower tariffs.

RTTNews | 3h 42min ago

European Markets Close On Firm Note

European stocks closed on a positive note on Tuesday as the passage of a short-term funding bill late Monday raised the possibility of the longest government shutdown in U.S. history coming to an end soon.

RTTNews | 4h 4min ago

Bay Street May Open Higher Again

Canadian stocks may open higher on Tuesday, riding on firm commodity prices. The passage of a short-term funding bill late Monday to end the longest government shutdown in U.S. history, is likely to aid sentiment.

RTTNews | 8h 11min ago

UK Unemployment Rate Highest Since 2021

The UK unemployment rate increased to the highest since early 2021 in the third quarter, raising chances of an interest rate cut, official data revealed on Tuesday. The ILO jobless rate rose to 5.0 percent in the third quarter from 4.8 percent in the three months to August, the Office for National Statistics said. The rate was above economists' forecast of 4.9 percent.

RTTNews | 9h 6min ago

FTSE 100 Rises On Rate Cut Hopes; Vodafone Group Moves Up Sharply

U.K.'s FTSE 100 index has moved up sharply on Tuesday, amid hopes of a rate cut by the Bank of England next month after data showed an increase in the nation's unemployment rate in the third quarter. The passage of a short-term funding bill late Monday to end the longest government shutdown in U.S. history is also aiding sentiment.

RTTNews | 9h 23min ago

CAC 40 Up 0.6%; Hermes International, LVMH Among Top Gainers

French stocks are up firmly in positive territory on Tuesday, extending gains from the previous session, following the passage of a short-term funding bill late Monday to end the longest government shutdown in U.S. history.

RTTNews | 9h 50min ago

DAX Up Marginally As Mood Remains Positive After Passage Of U.S. Short-term Spending Bill

The German market is up in positive territory on Tuesday, as the undertone remains firm following the U.S. Senate passing a short-term funding bill late Monday to end the longest government shutdown in U.S, history.

RTTNews | 10h 15min ago

German Economic Confidence Weakens In November

German economic confidence weakened moderately in November as investors became concerned about the ability of economic policies to address its key issues, a monthly survey conducted by the think tank ZEW showed Tuesday. The economic sentiment index fell unexpectedly to 38.5 in November from 39.3 in the previous month. The reading was forecast to rise to 41.0.

RTTNews | 10h 47min ago

EURUSD	1.15826	GBPUSD	1.31609	AUDUSD	0.65287
USDJPY	154.119	USDCAD	1.40092	USDCHF	0.80036