European Stocks Close Notably Higher On Bargain Hunting

RTTNews | 1033 일 전

(RTTNews) - European stocks closed notably higher on Monday, reacting to new British finance minister Jereme Hunt's decision to scrap most of the policies announced in Prime Minister Liz Truss's budget on September 23.

UK finance minister Jeremy Hunt said income tax cuts the government had planned would be shelved indefinitely, and he reversed plans to slash dividend tax rates and scrap alcohol duties.

The measures announced by Hunt reverse more of Prime Minister Liz Truss's growth program, which prompted a selloff in UK assets after it was unveiled by her then-chancellor Kwasi Kwarteng. Hunt took over as finance minister after Truss fired Kwarteng on Friday.

Hectic bargain hunting at several counters following recent sharp losses contributed as well to the jump in stock prices.

Worries about rising interest rates, slowing growth and geopolitical tensions continued to linger, but that did not deter investors from picking up stocks.

The pan European Stoxx 600 climbed 1.83%. The U.K.'s FTSE 100 gained 0.9%, Germany's DAX moved up 1.7% and France's CAC 40 surged 1.83%. Switzerland's SMI gained 1.64%.

Among other markets in Europe, Austria, Belgium, Finland, Greece, Ireland, Netherlands, Norway, Poland, Portugal, Russia, Spain, Sweden and Turkiye closed sharply higher.

Denmark and Iceland posted modest gains, while Czech Republic ended weak.

In the UK market, British Land Co., Persimmon, Land Securities, IAG, United Utilities, ICP, Severn Trent and National Grid gained 4 to 5.2%.

Taylor Wimpey, Barratt Developments, Ocado Group, Segro, Smurfit Kappa Group, Legal & General, Schroders, Melrose Industries, JD Sports Fashion, Smith (DS), Whitbread and Unite Group were among the other major gainers.

Hargreaves Lansdown shed nearly 2%. The company is facing a £100 million ($113 million) lawsuit from thousands of investors. Haleon, BP and Pearson lost 1 to 2%.

ASOS plummeted 8%. The online fashion retailer confirmed reports suggesting that it is in negotiations with its lenders over changing the terms of its 350 million pound ($394 million) borrowing facility.

In Paris, Atos and Faurecia rallied 5.7% and 5.2%, respectively. Renault, Publicis Groupe, Kering, Safran, Dassault Systemes, Air France-KLM, BNP Paribas, Michelin, Thales, WorldLine, Capgemini, Airbus Group, Hermes International and Teleperformance gained 2.5 to 4%.

In the German market, HelloFresh, Vonovia, Deutsche Wohnen, Zalando, Adidas, Continental, MTU Aero Engines, Volkswagen, Siemens, Porsche Automobil, Puma and Infineon Technologies moved up 2.5 to 5.5%.

Euro Higher Against Majors

The euro appreciated against its major counterparts in the New York session on Friday.

RTTNews | 9 시간 9 분 전

TSX Down Marginally In Lackluster Trade

Canadian stocks are turning in a mixed performance in somewhat lackluster trade on Friday, with investors focusing on the upcoming US - Russia summit that could help end the war in Ukraine.

RTTNews | 11 시간 59 분 전

Swiss Market Ends On Firm Note

The Switzerland market ended on a firm note on Friday with stocks from across several sectors gaining ground on sustained buying support. The mood remained positive right through the day's session, amid some expectations about an end to the Ukraine war.

RTTNews | 12 시간 27 분 전

European Stocks Close Mixed After Cautious Session

European stocks closed on a mixed note on Friday with investors largely staying cautious, awaiting the meeting of the Presidents of the U.S. and Russia, and continuing to assess Trump administration's tariff moves and their impact on global economic growth.

RTTNews | 12 시간 46 분 전

U.S. Business Inventories Rise In Line With Estimates In June

A report released by the Commerce Department on Friday showed business inventories in the U.S. increased in line with economist estimates in the month of June. The Commerce Department said business inventories rose by 0.2 percent in June after coming in unchanged in May. The uptick matched expectations.

RTTNews | 14 시간 23 분 전

U.S. Consumer Sentiment Unexpectedly Deteriorates In August

Consumer sentiment in the U.S. has unexpectedly deteriorated in the month of August, according to preliminary data released by the University of Michigan on Friday. The University of Michigan said its consumer sentiment index fell to 58.6 in August from 61.7 in July. Economists had expected the index to inch up to 62.0.

RTTNews | 14 시간 41 분 전

U.S. Industrial Production Pulls Back Slightly In July

A report released by the Federal Reserve on Friday showed a modest decrease by U.S. industrial production in the month of July. The Fed said industrial production edged down by 0.1 percent in July after climbing by an upwardly revised 0.4 percent in June. Economists had expected industrial production to come in unchanged.

RTTNews | 15 시간 10 분 전

New York Manufacturing Index Unexpectedly Climbs To Nine-Month High In August

The Federal Reserve Bank of New York released a report on Friday showing regional manufacturing activity unexpectedly grew at a faster rate in the month of August. The New York Fed said its general business conditions index climbed to 11.9 in August from 5.5 in July, with a positive reading indicating growth. Economists had expected the index to fall to 0.5.

RTTNews | 15 시간 35 분 전

EURUSD	1.1698	GBPUSD	1.3551	AUDUSD	0.6504
USDJPY	147.18	USDCAD	1.38173	USDCHF	0.8063