European Shares Gain Ahead Of Fed Decision

RTTNews | 807 hari yang lalu
European Shares Gain Ahead Of Fed Decision

(RTTNews) - European stocks traded higher on Wednesday, with Fed pause hopes and encouraging data from Germany and the U.K. helping underpin sentiment.

Signs of moderating U.S. inflation reinforced bets the Federal Reserve would skip a rate hike later in the day.

Eurozone industrial output rose more than expected in April, helping ease concerns surrounding the economic outlook.

Industrial production rose 1.0 percent in April compared with the previous month after an upwardly revised 3.8 percent fall in March, Eurostat reported.

Elsewhere, data showed retailers and the film industry helped Britain's economy inch higher in April as expected.

GDP grew by 0.2 percent month-on-month in April, the Office for National Statistics said, coming in line with analyst estimates.

The pan-European STOXX 600 rose half a percent to 465.34 after rising 0.6 percent on Tuesday.

The German DAX gained half a percent, France's CAC 40 climbed 0.7 percent and the U.K.'s FTSE 100 was up 0.3 percent.

German footwear conglomerate Puma rose about 1 percent. The company announced a reorganization to improve alignment across key business categories.

Machinery manufacturer Heidelberger Druckmaschinen slumped 4.7 percent after issuing a cautious outlook for the new financial year.

Construction equipment manufacturer Wacker Neuson jumped 6.3 percent after saying it aims to grow revenue by 78 percent by 2030 and increase profitability.

Ladbrokes-owner Entain plunged 11 percent on news it would buy Poland-based sports betting operator STS Holdings for 750 million pounds ($946 million).

Self-storage company Safestore Holdings fell more than 2 percent after its pre-tax profit declined 64 percent in the first half of fiscal 2023 despite higher revenue.

Oil & gas giant Shell gained half a percent after it announced plans to ramp up dividend and share buybacks.

Spanish drug maker Grifols soared 6.5 percent after it announced plans to divest shares in Shanghai RAAS for estimated proceeds of $1.5 billion.

Computer accessories maker Logitech plummeted over 9 percent on news its CEO and President Bracken Darrell is leaving for another job.

read more
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 | 49 minit yang lalu
FTSE 100 Weak Again, Looks Headed For Weekly Loss

FTSE 100 Weak Again, Looks Headed For Weekly Loss

U.K. stocks are trading lower on Friday, losing ground for a fourth straight session, weighed down to a large extent by the weakness in the financial sector, amid reports of likely imposition of windfall tax on banks.
RTTNews | 1j 21min yang lalu
Pound Falls Against Majors

Pound Falls Against Majors

The British pound weakened against other major currencies in the European session on Friday.
RTTNews | 1j 28min yang lalu
French Stocks Mostly Subdued In Cautious Trade

French Stocks Mostly Subdued In Cautious Trade

The French market is down in negative territory on Friday with investors digesting a slew of economic data, and look ahead to key consumer inflation report from the U.S.
RTTNews | 1j 40min yang lalu
French Inflation Cools; Economy Expands As Estimated

French Inflation Cools; Economy Expands As Estimated

France's consumer price inflation softened in August on weaker growth in transport costs and the economy logged a faster growth as estimated in the second quarter, official data revealed Friday. Consumer price inflation weakened marginally to 0.9 percent in August from 1.0 percent in July, provisional data from the statistical office INSEE showed.
RTTNews | 2j 5min yang lalu
DAX Down Nearly 0.5% As Investors Focus On Economic Data

DAX Down Nearly 0.5% As Investors Focus On Economic Data

German stocks are down in negative territory in cautious trade on Friday as investors digest the nation's import prices and retail sales data and await U.S. inflation data due later in the day,
RTTNews | 2j 14min yang lalu