European Shares Struggle For Direction Amid Data Deluge

RTTNews | 816 hari yang lalu

(RTTNews) - European stocks struggled for direction on Monday as investors digested a raft of mixed economic data.

Data showed earlier in the day that German trade surplus widened to €18.4 billion from €14.9 billion as exports unexpectedly rose 1.2 percent and imports fell 1.7 percent in April.

Eurozone business growth slowed in May. HCOB's final Composite Purchasing Managers' Index (PMI), compiled by S&P Global, dropped to a three-month low 52.8 in May from April's 54.1.

Eurozone PPI came in at -3.2 percent month-on-month in April versus -2.7 percent expected.

The Eurozone Sentix Investor Confidence index came in a -17.1 in June, dropping from -13.1 booked in May and -9.2 expected.

There was little change to the initial estimates of U.K. service sector activity in May.

The pan European STOXX 600 was marginally higher at 462.45 after rallying 1.5 percent on Friday.

The German DAX edged up marginally and the U.K.'s FTSE 100 was up around half a percent, while France's CAC 40 slipped 0.1 percent.

Swiss investment bank UBS rose 1.4 percent after saying it would complete its takeover of Credit Suisse by "as early as June 12".

SBB shares jumped 6 percent. The company's CEO said the Swedish property group won't sell off its assets at a discount.

Commodity stocks traded higher after a private survey showed stronger-than-expected growth in China's services sector in May on improved demand.

Miners Anglo American and Glencore rose around half a percent each in London while oil & gas firm BP Plc rallied 1.2 percent and Shell added 1 percent.

Sirius Real Estate rallied 3 percent. The company lifted dividend despite reporting a slump in annual profit.

Hunting rose over 2 percent after it entered into a 10-year Strategic Partnership with Zhejiang Jiuli Hi-Tech Metals Co.

Polymetal tumbled 3.6 percent after saying it was considering divestment of its Russian business.

Further, the chief executive officer and chief financial officer have resigned from their positions at the Russian subsidiary.

U.S. Consumer Sentiment Deteriorates Slightly More Than Initially Estimated In August

The University of Michigan released a report on Friday showing consumer sentiment in the U.S. deteriorated by slightly more than previously estimated in the month of August. The report said the consumer sentiment index for August was downwardly revised to 58.2 from the preliminary reading of 58.6.

RTTNews | 2j 47min yang lalu

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 | 3j 6min yang lalu

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 | 3j 49min yang lalu

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 | 4j 19min yang lalu