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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Chicago Business Barometer Unexpectedly Indicates Faster Contraction In May
Chicago-area business activity unexpectedly contracted at an accelerated rate in the month of May, according to a report released by MNI Indicators on Friday. MNI Indicators said its Chicago business barometer fell to 35.4 in May from 37.9 in April, with a reading below 50 indicating contraction. Economists had expected the business barometer to rise to 41.0.
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U.S. Consumer Prices Rise In Line With Estimates, Core Prices Edge Up Less Than Expected
A highly anticipated report released by the Commerce Department on Friday showed consumer prices in the U.S. increased in line with economist estimates in the month of April, although core consumer prices edged up by slightly less than expected.
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Soho House Rejects Recent Takeover Offer; Dissolves Special Committee
Soho House & Co Inc. (SHCO) said Friday that it received interest from a party that conditioned a proposal on certain Class B holders rolling over their equity interests in the Company as part of a transaction.
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Eurozone Inflation Rises Ahead Of ECB Meeting
Eurozone headline and core inflation accelerated in May largely driven by higher services costs ahead of the European Central Bank's governing council meeting next week, when it is widely expected to cut interest rates. The harmonized index of consumer prices posted a faster-than-expected increase of 2.6 percent, following the 2.4 percent rise in April, flash data from Eurostat showed on Friday
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U.S. Consumer Prices Increase In Line With Estimates In April
A highly anticipated report released by the Commerce Department on Friday showed consumer prices in the U.S. increased in line with economist estimates in the month of April, although core consumer prices edged up by slightly less than expected.
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UBS Group Closes Takeover Of Credit Suisse
UBS Group AG (UBS) announces Friday that it has completed the merger of UBS AG and Credit Suisse AG. The completion of the merger within the expected timeline was facilitated by the strong support from regulators across the globe.
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German Retail Sales Fall More Than Forecast, Price Expectations Rise
Retail sales in Germany declined more than expected in April, largely led by a slump in sales of food, while a survey showed that more companies plan to raise prices in the coming months. On a calendar and seasonally adjusted basis, retail sales slumped 1.2 percent from March, when they grew an upwardly revised 2.6 percent, preliminary data from the statistical office Destatis showed Friday. Econ
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Novartis Reports Positive Results From Phase III ASC4FIRST Trial; Meets Both Primary Endpoints
Novartis AG (NVS) reported Friday positive results from the pivotal Phase III ASC4FIRST trial, which met both primary endpoints with clinically meaningful and statistically significant results.
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