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DAX Edges Up Slightly Ahead Of Inflation Data
(RTTNews) - German stocks edged up slightly on Monday as preliminary data showed inflation rose in four important German states in April.
National inflation data due out later in the day may influence trading sentiment, heading into the release of the euro zone inflation data on Tuesday.
The benchmark DAX was up 32 points, or 0.2 percent, at 18,193 after climbing 1.4 percent on Friday.
In corporate news, Deutsche Bank shares slumped 5.2 percent.
The lender has provided updates on the ongoing litigation concerning its acquisition of Postbank, revealing that a legal provision will affect its second-quarter and full-year profitability as well as capital ratios.
The total estimated amount of all claims, inclusive of accumulated interest, stands at about 1.3 billion euros.
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Swiss Market Ends On Weak Note
The Switzerland market closed notably lower on Tuesday, in line with most of the major markets across Europe, as the mood remained cautious ahead of monetary policy announcements from the Federal Reserve and the Bank of England, due on Wednesday and Thursday, respectively.
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European Markets Close On Weak Note Ahead Of Fed, BoE Policy Decisions
European markets closed notably lower on Tuesday as investors, digesting a slew of economic data from the region, remained reluctant to pick up stocks ahead of Federal Reserve's interest rate decision due on Wednesday.
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U.S. Business Inventories Rise 0.2% In July, In Line With Estimates
The Commerce Department released a report on Tuesday showing business inventories in the U.S. increased in line with expectations in the month of July. The report said business inventories rose by 0.2 percent in July, matching the increase seen June as well as economist estimates.
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U.S. Homebuilder Confidence Holds Steady In September
Homebuilder confidence in the U.S. held steady in the month of September, according to a report released by the National Association of Home Builders on Tuesday. The report said the NAHB/Wells Fargo Housing Market Index came in at 32 in September, unchanged from August. Economists had expected the index to inch up to 33.
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U.S. Industrial Production Unexpectedly Inches Slightly Higher In August
Industrial production in the U.S. unexpectedly edged slightly higher in the month of August, according to a report released by the Federal Reserve on Tuesday. The Fed said industrial production crept up by 0.1 percent in August after falling by a downwardly revised 0.4 percent in July. Economists had expected industrial production to slip by 0.1 percent.
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U.S. Import Prices Unexpectedly Increase In August
A report released by the Labor Department on Tuesday showed import prices in the U.S. unexpectedly increased in the month of August. The Labor Department said import prices rose by 0.3 percent in August after inching up by a downwardly revised 0.2 percent in July. Economists had expected import prices to edge down by 0.1 percent.
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Canadian Market Drifts Lower In Cautious Trade
The Canadian market is down in negative territory Tuesday morning, as data showing an increase in the nation's consumer price inflation dimmed the extent of rate cuts this year although the Canadian central bank is widely expected to lower interest rate by 25 basis points on Wednesday.
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U.S. Retail Sales Climb 0.6% In August, Much More Than Expected
The Commerce Department released a report on Tuesday showing retail sales in the U.S. rose by much more than expected in the month of August. The report said retail sales climbed by 0.6 percent in August, matching an upwardly revised increase in July. Economists had expected retail sales to inch up by 0.2 percent compared to the 0.5 percent growth originally reported for the previous month.
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