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European Shares Extend Gains On ECB's Dovish Outlook

RTTNews | 174 days ago

European Shares Extend Gains On ECB's Dovish Outlook

(RTTNews) - European stocks hit new record highs on Friday, a day after the European Central Bank delivered a widely expected 25-basis point interest-rate cut and guided for a further reduction in March due to concerns about economic growth.

Meanwhile, investors shrugged off data that showed German retail sales unexpectedly contracted on a monthly basis in December.

Also, there has been a slight increase in the number of unemployed people in Germany, with the unemployment rate rising to 6.0 percent as of December 2024 in comparison to 5.7 percent during the same time in 2023.

Elsewhere, French consumer price increased slightly less than anticipated in January.

The pan European STOXX 600 was up 0.3 percent at 540.27 after climbing 0.9 percent in the previous session.

The German DAX was marginally higher, France's CAC 40 gained 0.2 percent and the U.K.'s FTSE 100 added 0.3 percent.

Swiss pharma giant Novartis AG rallied 3 percent after posting better-than-expected fourth-quarter sales and lifting dividend.

SKF AB fell nearly 1 percent after fourth-quarter organic sales fell by 3.1 percent, reflecting weaker demand.

ATOSS Software SE surged 4 percent. The company proposed higher dividend after reporting a rise in Q4 profit.

Smiths Group shares soared more than 12 percent in London. The engineering firm has announced a number of strategic actions, including a further increase in its share buyback program to enhance returns to shareholders.

Industrial technology group Hexagon jumped 7.4 percent after posting a surprise rise in its Q4 operating profit.

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Japanese Market Notably Lower

Japanese Market Notably Lower

Reversing some of the strong gains in the previous two sessions, the Japanese market is notably lower on Friday, following the mixed cues from Wall Street overnight. The Nikkei 225 is falling well above the 41,650 level, with weakness across most sectors led by exporters, automakers and financial stocks.

RTTNews | 31 minutes ago

Higher Open Called For Indonesia Stock Market

Higher Open Called For Indonesia Stock Market

The Indonesia stock market has moved higher in back-to-back sessions, advancing more than 180 points or 2.6 percent along the way. The Jakarta Composite Index now sits just above the 7,530-point plateau and it may open to the upside again on Friday.

RTTNews | 39 minutes ago

Hong Kong Shares May Be Stuck In Neutral On Friday

Hong Kong Shares May Be Stuck In Neutral On Friday

The Hong Kong stock market has moved higher in five straight sessions, gathering almost 1,300 points or 5.1 percent in that span. The Hang Seng Index now sits just beneath the 25,670-point plateau although it's expected to see profit taking on Friday.

RTTNews | 54 minutes ago

Australian Market Notably Lower

Australian Market Notably Lower

The Australian stock market is trading notably lower on Friday, extending the losses in the previous session, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 8,700 level, with weakness in mining and financial stocks partially offset by gains in energy and technology stocks.

RTTNews | 56 minutes ago

China Stock Market Due For Consolidation

China Stock Market Due For Consolidation

The China stock market has finished higher in six straight sessions, collecting more than 100 points or 2.8 percent along the way. The Shanghai Composite Index now sits just above the 3,600-point plateau although it's likely to see a downward correction on Friday.

RTTNews | 1h 9min ago

Taiwan Shares May Tick Higher Again On Friday

Taiwan Shares May Tick Higher Again On Friday

The Taiwan stock market has moved higher in consecutive trading days, gathering almost 400 points or 1.8 percent along the way. The Taiwan Stock Exchange now sits just beneath the 23,375-point plateau and it may see mild upside again on Friday.

RTTNews | 1h 39min ago

Japan Producer Prices Ease To 3.2% On Year In June

Japan Producer Prices Ease To 3.2% On Year In June

Producer prices in Japan were up 3.2 percent on year in June, the Bank of Japan said on Friday.

RTTNews | 2h 4min ago

Rally May Stall For Singapore Stock Market

Rally May Stall For Singapore Stock Market

The Singapore stock market has moved higher in 14 straight sessions, improving more than 250 points or 6.2 percent along the way. The Straits Times Index now rests just above the 4,270-point plateau although it's overdue for consolidation on Friday.

RTTNews | 2h 9min ago

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