DAX Rises On China Data

RTTNews | 912 days ago
DAX Rises On China Data

(RTTNews) - German stocks opened higher on Wednesday as better-than-expected Chinese data helped investors shrug off recent concerns about inflation and interest-rate rises.

The dollar index extended losses while the German 10-year Bund yield climbed by 6.1 basis points to 2.710 percent, tracking higher U.S. yields.

The benchmark DAX was up 46 points, or 0.3 percent, at 15,411 after closing 0.1 percent lower on Tuesday.

Sportswear maker PUMA fell 1.3 percent after saying it expects cost pressure on margins to persist in 2023.

Nordex Group jumped 2.2 percent on bagging two orders for a combined total of almost 110MW in Sweden and Finland from wpd.

Nivea maker Beiersdorf fell around 1 percent after warning of lower organic growth sales this year.

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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 | 3h 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 | 3h 51min ago
German Unemployment Exceeds 3 Mln

German Unemployment Exceeds 3 Mln

Germany's unemployment exceeded the three million-mark for the first time in a decade in August as the prolonged period of subdued economic activity weighed on the labor market. The number of unemployed persons increased by 46,000 from the previous year to 3.025 million in August. However, unemployment fell by adjusted 9,000 compared to the previous month, while it was forecast to increase by 1
RTTNews | 4h 21min ago
Pound Slides Against Majors

Pound Slides Against Majors

The British pound weakened against other major currencies in the European session on Friday, weighed down to a large extent by the weakness in the financial sector, amid reports of likely imposition of windfall tax on banks.
RTTNews | 5h 35min ago