European Shares Edge Higher Led By Commodity Stocks

RTTNews | 895 days ago

(RTTNews) - European stocks traded higher on Wednesday as stronger commodity prices on the back of a weaker dollar boosted mining and energy stocks.

The upside remained capped as investors awaited U.S. consumer inflation data as well as Fed minutes from the March meeting for clues on the monetary path of the central bank.

U.S. core inflation is forecast to ease both on a monthly and yearly basis in March.

Closer home, French central bank chief Francois Villeroy de Galhau on Tuesday said inflation in the euro zone is at risk of getting entrenched above 2 percent and that underlying inflation readings and the effectiveness of policy transmission will be the key factors in the next decisions.

Commentary from ECB Vice President Luis de Guindos is awaited later in the day.

The pan-European STOXX 600 edged up 0.2 percent to 462.71 after rising 0.6 percent in the previous session.

The German DAX, France's CAC 40 index and the U.K.'s FTSE 100 were up 0.2 percent, 0.3 percent and 0.6 percent, respectively.

Truck maker AB Volvo soared 7.6 percent after reporting record first-quarter profits on higher revenue and margins.

Zurich Insurance plummeted 5.4 percent to snap a four-day winning streak. Merck slumped 6.5 percent. The German pharmaceutical company said the FDA has placed a partial clinical hold on the initiation of new patients on evobrutinib and patients with less than 70 days exposure to study medication in the U.S.

Miners extended gains from the previous session on China stimulus hopes. Antofagasta rose 0.8 percent and Glencore added 1.3 percent.

Oil & gas firm BP Plc gained 0.8 percent, Shell advanced 1.4 percent and TotalEnergies added 0.9 percent after crude prices jumped nearly 2 percent overnight.

Petrofac plunged more than 16 percent. The oilfield services provider said it expects to report a full year Group EBIT loss of about US$150 million to US$170 million for 2022, including an EBIT loss of about US$240 million to US$260 million in Engineering & Construction.

French luxury group LVMH was marginally higher ahead of an update on its first-quarter sales.

Deutsche Bank shares rose 1.4 percent. The German bank is winding down its remaining software technology operations in Moscow and St Petersburg to end two decades of reliance on Russian IT expertise, the Financial Times reported.

Car manufacturer Mercedes Benz gained 0.7 percent after sales rose moderately in the first quarter of this year.

European Shares Seen Flat To Higher At Open

European stocks are seen opening broadly higher on Tuesday, even as the upside may remain capped amid ongoing volatility in the bond markets due to political uncertainty in France and Germany's plans to ramp up debt issuance.

RTTNews | 1h 24min ago

European Economic News Preview: Eurozone Flash PMI Data Due

Flash composite purchasing managers' survey results from the euro area and the UK are the top economic news due on Tuesday. At 3.15 am ET, France's flash composite PMI survey results are due. The composite output index is forecast to edge up to 49.9 in September from 49.8 in the previous month.

RTTNews | 1h 40min ago

Sensex, Nifty Extend Losses In Cautious Trade

Indian shares were a tad lower on Tuesday, with tariff worries and escalating tensions in Europe and the Middle East keeping investors on edge.

RTTNews | 2h 20min ago

Australian Market Extends Early Gains In Mid-market

The Australian stock market is extending its early gains in mid-market trading on Tuesday, adding to the gains in the previous two sessions, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving above the 8,850 level, with gains across most sectors led by mining and technology shares.

RTTNews | 3h 28min ago

Asian Markets Mixed Amid Cautious Trades

Asian markets are trading mixed on Tuesday, following the positive cues from Wall Street overnight, as traders remain optimistic about the outlook for the markets amid expectations of further interest rate cuts by the US Fed. Some traders are also looking to cash in on the recent strength in the markets. However, escalating tensions in Europe and the Middle East are weighing on market sentiment.

RTTNews | 3h 53min ago

Sensex, Nifty Seen Lower At Open

Indian shares look set to open on a weak note on Tuesday as investors keep a close eye on ongoing trade talks with the U.S. as well as escalating tensions in Europe and the Middle East, with EU targeting Russian supplies and Ukraine intensifying its attacks on Russian energy infrastructure.

RTTNews | 4h 24min ago

Higher Open Called For Thai Stock Market

The Thai stock market has moved lower in four straight sessions, shedding more than 25 points or 1.9 percent along the way. The Stock Exchange of Thailand now sits just above the 1,280-point plateau although it's due for support on Tuesday. The global forecast for the Asian markets continued to be mildly positive on optimism over the outlook for interest rates. The European markets were mixed and the U.S. bourses were up and the Asian markets figure to split the difference. The SET finished modestly lower on Monday following losses from the food, finance, industrial, property, resource, service and technology sectors. For the day, the index lost 10.18 points or 0.79 percent to finish at the daily low of 1,282.54 after peaking at 1,296.42. Volume was 8.171 billion shares worth 31.595 billion baht. There were 356 decliners and 128 gainers, with 167 stocks finishing unchanged. Among the actives, Advanced Info lost 0.68 percent, while Thailand Airport crashed 0.64 percent, Asset World sank 0.83 percent, Banpu plunged 2.48 percent, Bangkok Bank collected 0.68 percent, Bangkok Expressway eased 0.97 percent, BTS Group gave up 1.24 percent, CP All Public dipped 0.52 percent, Charoen Pokphand Foods dropped 0.86 percent, Energy Absolute declined 1.64 percent, Gulf weakened 1.63 percent, Kasikornbank and PTT Global Chemical both slumped 0.91 percent, Krung Thai Bank skidded 0.99 percent, Krung Thai Card retreated 1.64 percent, PTT Oil & Retail fell 0.72 percent, PTT slid 0.75 percent, PTT Exploration and Production was down 0.87 percent, SCG Packaging tanked 2.69 percent, Siam Commercial Bank added 0.40 percent, Siam Concrete tumbled 1.77 percent, Thai Oil plummeted 2.70 percent, True Corporation contracted 0.93 percent, TTB Bank shed 0.53 percent and B. Grimm and Bangkok Dusit Medical were unchanged.

RTTNews | 4h 55min ago

Indonesia Bourse Likely To Remain Rangebound

The Indonesia stock market has finished lower in two of three trading days since the end of the seven-day winning streak in which it had surged almost 400 points or 5 percent. The Jakarta Composite Index sits just above the 8,040-point plateau and it figures to hold steady in that neighborhood again on Tuesday. The global forecast for the Asian markets continued to be mildly positive on optimism over the outlook for interest rates. The European markets were mixed and the U.S. bourses were up and the Asian markets figure to split the difference. The JCI finished slightly lower on Monday as losses from the financial shares and telecoms were mitigated by support from the resource and cement companies. For the day, the index dipped 11.08 points or 0.14 percent to finish at 8,040.04 after trading between 8,005.35 and 8,087.93. Among the actives, Bank CIMB Niaga fell 0.29 percent, while Bank Mandiri advanced 0.91 percent, Bank Danamon Indonesia collected 0.85 percent, Bank Negara Indonesia retreated 1.41 percent, Bank Central Asia and Astra Agro Lestari both dropped 0.96 percent, Bank Rakyat Indonesia tanked 2.12 percent, Indosat Ooredoo Hutchison retreated 1.59 percent, Indocement improved 0.72 percent, Semen Indonesia strengthened 1.39 percent, Indofood Sukses Makmur rose 0.32 percent, Astra International shed 0.44 percent, Energi Mega Persada surged 7.14 percent, Aneka Tambang rallied 3.77 percent, Vale Indonesia soared 3.71 percent, Timah spiked 5.00 percent, Bumi Resources skyrocketed 6.14 percent and United Tractors was unchanged.

RTTNews | 5h 25min ago

EURUSD	1.17983	GBPUSD	1.35176	AUDUSD	0.65919
USDJPY	147.701	USDCAD	1.38298	USDCHF	0.79231