DAX Gains As Investors Digest Fed Minutes

RTTNews | 918 days ago
DAX Gains As Investors Digest Fed Minutes

(RTTNews) - German stocks rose on Thursday as investors reacted to the FOMC meeting minutes released overnight and a slew of encouraging earnings results.

Following the release of the minutes from the U.S. central bank's Jan 31-Feb 1 policy meeting, Fed funds futures now price in three more quarter-percentage-point rate hikes at upcoming meetings this year

The benchmark DAX was up 0.7 percent at 15,510 after finishing marginally higher on Wednesday.

Freenet AG, a telecommunications and web content provider, rose about 1 percent after posting EBITDA growth of 7.0 percent in financial year 2022.

Reinsurer Munich Re plunged 5.2 percent despite delivering a surprisingly strong annual profit in a difficult year for the industry.

Krones AG added 2 percent after reporting a rise in preliminary earnings and revenue.

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German Inflation Accelerates To 2.2% In August

German Inflation Accelerates To 2.2% In August

Consumer price inflation in Germany climbed in August to its highest level in five months, while the core figure was steady amid an acceleration in food price growth, and weakened chances for further easing from the European Central Bank in the near term.
RTTNews | 4h 46min ago
Swiss Market Ends Modestly Lower

Swiss Market Ends Modestly Lower

Save for a very brief while early on in the session, and for less than an hour a little past mid afternoon, the Switzerland market stayed in negative territory on Friday with investors largely staying cautious due to a lack of positive triggers.
RTTNews | 7h 36min ago
European Stocks Close Lower On Geopolitical Tensions

European Stocks Close Lower On Geopolitical Tensions

European stocks closed lower on Friday, weighed down by geopolitical concerns due to rising clashes in Gaza and Ukraine, and political uncertainty in France. Investors also digested the latest batch of economic data, including the closely watched U.S. personal consumption expenditure report.
RTTNews | 8h 4min ago
Chicago Business Barometer Slumps Much More Than Expected In August

Chicago Business Barometer Slumps Much More Than Expected In August

MNI Indicators released a report on Friday showing a sharp pullback by its reading on Chicago-area business activity in the month of August. The report said the Chicago business barometer tumbled to 41.5 in August after jumping to 47.1 in July, with a reading below 50 indicating contraction. Economists had expected the business barometer to edge down to 46.0.
RTTNews | 11h 8min ago
U.S. Consumer Prices Increase In Line With Estimates In July

U.S. Consumer Prices Increase In Line With Estimates In July

Consumer prices in the U.S. increased in line with economist estimates in the month of July, according to closely watched data released by the Commerce Department on Friday. The Commerce Department said its personal consumption expenditures (PCE) price index rose by 0.2 percent in July after climbing 0.3 percent in June. The uptick matched expectations.
RTTNews | 11h 51min ago