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European Shares Rally Led By Banks And Miners

RTTNews | 733 days ago

(RTTNews) - European stocks rebounded on Wednesday, with banks and miners leading the surge.

The pan European STOXX 600 rose about 1 percent to 462.96 after declining 0.2 percent on Tuesday.

The German DAX climbed 1.2 percent, France's CAC 40 added 1.4 percent and the U.K.'s FTSE 100 was up 0.8 percent.

The euro edged up against the dollar ahead of U.S. inflation readings due this week that might influence the Fed's rate trajectory.

Italian lenders Intesa Sanpaolo and UniCredit jumped 3-4 percent after the country's finance ministry clarified that that the new windfall tax on banks would not amount to more than 0.1 percent of their assets.

Monte dei Paschi di Siena and Banco BPM jumped around 4 percent each while Commerzbank, Deutsche Bank and BNP Paribas were up 2-3 percent.

Dutch lender ABN Amro fell 2.3 percent after delaying a decision on share buybacks to the last quarter.

Miners Anglo American, Antofagasta and Glencore climbed 1-2 percent in London after data showed China's consumer prices slipped into deflation territory in July amid weakening domestic demand, raising hopes for more policy stimulus.

Flutter Entertainment shares fell over 5 percent despite the online betting firm reporting a return to profitability for the first half of the year.

Coca-Cola HBC rose nearly 2 percent after the bottling firm lifted its FY23 organic revenue growth view and backed EBIT forecast.

Infrastructure products group Hill & Smith soared 7 percent after delivering a record trading performance in its first half.

Vestas Wind Systems, the world's leading manufacturer of wind turbines, rallied 2.6 percent after narrowing its Q2 loss and maintaining FY23 outlook.

Delivery Hero jumped 9.5 percent after the German online takeaway food company upgraded its revenue guidance.

Automotive parts manufacturer Continental added 1.8 percent despite cutting its sales outlook for the year.

European Economic News Preview: UK Unemployment Data Due

Unemployment from the UK and economic confidence from Germany are the top economic news due on Tuesday. At 2.00 am ET, the Office for National Statistics publishes UK unemployment data. The jobless rate is forecast to remain unchanged at 4.7 percent in the second quarter. At 3.00 am ET, retail sales figures are due from Turkey.

RTTNews | 19 minutes ago

Sensex, Nifty Slightly Higher In Early Trade

Indian shares were slightly higher on Tuesday despite mixed cues from global markets.

RTTNews | 1h 8min ago

Australian Market Trims Early Gains In Mid-market

The Australian stock market is trimming its early gains in mid-market trading on Tuesday, but extending the gains in the previous session, despite the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving above the 8,850 level to fresh all-time high, with gains in financial and energy stocks partially offset by weakness in mining and technology stocks.

RTTNews | 1h 55min ago

Asian Markets Trade Mostly Higher

Asian stock markets are trading mostly higher on Tuesday, despite the broadly negative cues from Wall Street overnight, with the Australian and the Japanese markets hitting record all-time highs, as the U.S. and China agreed to extend their tariff truce for another 90 days. Optimism about the US Fed cutting interest rate at its next meeting is also aiding market sentiment.

RTTNews | 2h 34min ago

Sensex, Nifty Set For Muted Open On Mixed Global Cues

Indian shares are seen opening flat to slightly lower on Tuesday after rising sharply in the previous session as the announcement of a meeting between Russian President Vladimir Putin and U.S. President Donald Trump has fueled expectations of a potential end to sanctions limiting supply of Russian oil to other markets.

RTTNews | 3h 6min ago

Japanese Market Sharply Higher; Up 2%

The Japanese stock market is trading sharply higher on Tuesday, extending the gains in the previous five sessions, despite the broadly negative cues from Wall Street overnight, with the Nikkei 225 surging over 2 percent near the 42,700 level to record all-time highs, with gains across all sectors led by index heavyweights, technology and financial stocks.

RTTNews | 4h 0min ago

Indonesia Stock Market May Be Stuck In Neutral On Tuesday

The Indonesia stock market has tracked higher in back-to-back sessions, improving more than 115 points or 15 percent along the way. The Jakarta Composite Index now sits just above the 7,600-point plateau although it's expected to open in the red on Tuesday. The global forecast for the Asian markets is soft ahead of key U.S. inflation data. The European markets were mixed and the U.S. bourses were down and the Asian markets also figure to track into the red.

RTTNews | 4h 8min ago

Renewed Consolidation Likely For Hong Kong Stock Market

The Hong Kong stock market moved higher again on Monday, one session after snapping the four-day winning streak in which it had rallied more than 570 points or 2.4 percent. The Hang Seng Index now rests just above the 24,900-point plateau although it may hand back those gains on Tuesday. The global forecast for the Asian markets is soft ahead of key U.S. inflation data. The European markets were mixed and the U.S. bourses were down and the Asian markets also figure to track into the red.

RTTNews | 4h 23min ago

EURUSD	1.16187	GBPUSD	1.34281	AUDUSD	0.65032
USDJPY	148.268	USDCAD	1.37768	USDCHF	0.81075