DAX Tumbles On Growth Worries; Banks Worst Hit

RTTNews | 955 일 전
DAX Tumbles On Growth Worries; Banks Worst Hit

(RTTNews) - German stocks fell sharply on Monday and Eurozone bond yields rose as last week's red-hot inflation data stoked expectations of aggressive interest rate hikes by the European Central Bank.

Meanwhile, German manufacturing activity contracted for a third month in a row in September, a survey showed earlier today, adding to worries over a looming recession. S&P Global's final Purchasing Managers' Index (PMI) for manufacturing, which accounts for about a fifth of Germany's economy, dropped to 47.8, marking the lowest level since June 2020 and down from 49.1 in August.

The benchmark DAX fell 160 points, or 1.3 percent, to 11,954 after climbing 1.2 percent on Friday.

Lender Commerzbank lost 4.3 percent and Deutsche Bank plummeted 4.7 percent on concerns about Swiss bank Credit Suisse's liquidity and capital position.

United Internet fell about 1 percent despite the company confirming its FY sales forecast.

RWE AG, an energy firm, rose over 1 percent after it agreed to buy Con Edison's Clean Energy Businesses for an enterprise value of $6.8 billion.

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Philly Fed Index Jumps More Than Expected But Remains Negative In May

Philly Fed Index Jumps More Than Expected But Remains Negative In May

Philadelphia-area manufacturing activity remained weak in the month of May, according to a report released by the Federal Reserve Bank of Philadelphia on Thursday. The Philly Fed said its diffusion index for current general activity jumped to a negative 4.0 in May from a negative 26.4 in April, but a negative reading still indicates contraction.
RTTNews | 1 시간 4 분 전
U.S. Retail Sales Inch Up In Line With Estimates In April

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A report released by the Commerce Department on Thursday showed a slight increase by U.S. retail sales in the month of April. The Commerce Department said retail sales crept up by 0.1 percent in April after surging by an upwardly revised 1.7 percent in March. Economists had expected retail sales to inch up by 0.1 percent compared to the 1.4 percent jump originally reported for the previous month.
RTTNews | 1 시간 19 분 전
U.S. Producer Prices Unexpectedly Decrease In April

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Eurozone GDP Expands 0.3% In Q1; Employment Growth Improves

Euro area economic growth accelerated less than estimated in the first quarter and employment logged a faster increase, flash estimate from Eurostat showed on Thursday. Gross domestic product expanded 0.3 percent on a quarterly basis, which was revised down from the 0.4 percent growth estimated on April 30. This followed the fourth quarter's 0.2 percent expansion.
RTTNews | 1 시간 23 분 전
U.S. Weekly Jobless Claims Unchanged From Upwardly Revised Level

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The Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits came in unchanged in the week ended May 10th The report said initial jobless claims came in at 229,000 last week, unchanged from the previous week's revised level. Economists had expected jobless claims to tick up to 229,000 from the 228,000 originally reported for the previous week.
RTTNews | 1 시간 31 분 전
U.S. Industrial Production Unexpectedly Unchanged In April

U.S. Industrial Production Unexpectedly Unchanged In April

With a rebound by utilities output offset by decreases by manufacturing and mining output, the Federal Reserve released a report on Thursday showing industrial production in the U.S. came in unchanged in the month of April.
RTTNews | 2 시간 8 분 전
ThyssenKrupp Shares Hit On Weak Adj. Earnings, Orders In Q2; Backs Outlook

ThyssenKrupp Shares Hit On Weak Adj. Earnings, Orders In Q2; Backs Outlook

Shares of ThyssenKrupp AG were losing around 14 percent in German trading after the industrial conglomerate reported Thursday sharply lower adjusted operating profit in its second quarter amid weak revenues and orders due to market conditions, even as it truned around to a net profit. Further, the company maintained its fiscal 2025 forecast.
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