European Stocks Extend Gains To 3rd Straight Day

RTTNews | 1056 hari yang lalu

(RTTNews) - European stocks closed sharply higher on Tuesday, extending gains to a third straight session, with investors focusing on earnings updates and looking ahead to the European Central Bank's monetary policy announcement, due later in the week.

Stocks turned in a somewhat sluggish performance earlier in the day, reacting to reports of a spending slowdown at tech giant Apple and a mixed earnings update from IBM, as well as on worries about rate hikes after data showed a an acceleration in eurozone inflation and stronger than expected jobs growth in the U.K.

However, a rally on Wall Street thanks to strong corporate earnings, and rising hopes the Fed will less aggressive with its policy stance at its upcoming meeting later this month, helped lift sentiment as the day progressed.

The pan European Stoxx 600 gained 1.38%. The U.K.'s FTSE 100 advanced 1.01%. Germany's DAX surged 2.69%, France's CAC 40 climbed 1.79%, while Switzerland's SMI gained 1.02%.

Among other markets in Europe, Austria, Belgium, Finland, Ireland, Netherlands, Spain, Sweden and Turkey closed with strong gains.

Greece, Iceland, Norway, Poland and Portugal ended modestly higher. Russia closed weak, while Czech Republic and Denmark closed flat.

In the UK market, Informa gained nearly 6%. Burberry Group, JD Sports Fashion, B&M European Value Retail, Harbour Journey, Natwest Group, Standard Chartered, Smurfit Kappa Group, Lloyds Banking Group and Associated British Foods advanced 3 to 4.5%.

WPP, M&G, CRH, Land Securities, Smith (DS), Airtel Africa, DCC and ABRDN were among the other major gainers.

Ocado Group drifted down 3.2%. Haleon and Aveva Group ended lower by 2.4% and 2.2%, respectively.

In the German market, Adidas climbed more than 6%. Covestro, BASF, Deutsche Bank, Siemens, Bayer, E.ON, HeidelbergCement and Volkswagen gained 4 to 5.4%.

RWE, Daimler, Merck, BMW, Infineon Technologies, Zalando, Vonovia, Deutsche Post, MTU Aero Engines, Brenntag, Siemens Healthineers, Porsche Automobil and HelloFresh also rose sharply.

In France, Faurecia surged 5.7%. Publicis Groupe, Renault, Societe Generale, Valeo, Engie, ArcelorMittal, Accor, BNP Paribas, Veolia, Kering, Hermes International, Essilor, Vinci, Credit Agricole, Schneider Electric and Sodexo gained 2.5 to 4.7%.

EDF shares soared nearly 15% after the French government offered 12 euros per share to take full control of the company in a 9.7 billion-euros (US$9.85 billion) buyout offer to nationalize Europe's biggest nuclear power operator.

The offer price represented a premium of 53%, to the closing price of EDF shares on July 5, the day before Prime Minister Elisabeth Borne announced the nationalization.

Alstom ended lower by about 2.5%. The train maker warned of challenges from inflation and the shortage in electronic components after reporting an 8% increase in first-quarter sales. The train maker warned of challenges from inflation and the shortage in electronic components after reporting an 8 percent increase in first-quarter sales.

Norwegian telecommunications provider Telenor ASA slumped more than 3% as it reported a second quarter net loss attributable to equity holders of 1.11 billion Norwegian Kroner compared to profit of 2.19 billion Kroner last year.

Eurostat data showed that the region's inflation accelerated as estimated in June to set a fresh record high, driven by higher energy and food prices. Headline consumer price inflation surged to 8.6% from 8.1% in May.

In the U.K., the ILO unemployment rate came in at 3.8% in three months to May, unchanged from three months to April but down by 0.1 percentage points on the quarter. The rate was forecast to rise to 3.9%.

Switzerland's trade surplus decreased in the second quarter, as imports rose and exports fell, data from the Federal Customs Administration showed.

Exports fell 0.5% sequentially in the June quarter, reversing a 1.5% rebound in the March quarter. Meanwhile, imports logged 0.6% growth in the second quarter, after a 1.1% gain in the previous quarter.

The trade surplus shrank to CHF 7.612 billion in the June quarter from CHF 8.376 billion in the previous three-month period.

Malaysia Shares Likely To Remain Rangebound

The Malaysia stock market ticked higher again on Monday, one session after snapping the two-day winning streak in which it had gained almost 15 points or 1 percent. The Kuala Lumpur Composite Index now sits just beneath the 1,520-point plateau and it's expected to remain in that neighborhood again on Tuesday. The global forecast for the Asian markets is murky ahead of key upcoming talks between the United States and China. The European markets were down and the U.S. bourses were flat and the Asian markets figure to split the difference. The KLCI finished slightly higher on Monday following gains from the plantation stocks and mixed performances from the financials and telecoms. For the day, the index perked 2.62 points or 0.17 percent to finish at 1,519.41 after trading between 1,518.03 and 1,521.64. Among the actives, 99 Speed Mart Retail rose 0.48 percent, while Axiata increased 0.50 percent, Celcomdigi shed 0.52 percent, CIMB Group advanced 0.73 percent, Gamuda stumbled 1.47 percent, Hong Leong Financial eased 0.12 percent, IHH Healthcare added 0.58 percent, IOI Corporation perked 0.27 percent, Maxis slumped 0.83 percent, Maybank dipped 0.21 percent, MISC spiked 1.32 percent, Nestle Malaysia tumbled 1.79 percent, Petronas Chemicals soared 3.08 percent, Petronas Dagangan retreated 1.71 percent, Petronas Gas fell 0.22 percent, PPB Group rallied 1.10 percent, Press Metal climbed 0.81 percent, QL Resources surged 3.66 percent, RHB Bank collected 0.16 percent, Sime Darby sank 0.56 percent, SD Guthrie gathered 0.44 percent, Sunway improved 0.62 percent, Telekom Malaysia dropped 0.61 percent, Tenaga Nasional gained 0.56 percent, YTL Corporation declined 1.46 percent, YTL Power lost 0.28 percent and Kuala Lumpur Kepong, MRDIY and Public Bank were unchanged.

RTTNews | 21 minit yang lalu

Japan Bourse May Spin Its Wheels On Tuesday

The Japan stock market has finished higher in two straight sessions, climbing more than 530 points or 1.7 percent along the way. The Nikkei 225 now sits just beneath the 38,090-point plateau although it may be stuck in neutral on Tuesday. The global forecast for the Asian markets is murky ahead of key upcoming talks between the United States and China. The European markets were down and the U.S. bourses were flat and the Asian markets figure to split the difference. The Nikkei finished modestly higher on Monday following gains from the financial shares and technology stocks, while the automobile producers were mixed. For the day, the index advanced 346.96 points or 0.92 percent to finish at 38,088.57 after trading between 38,018.22 and 38,178.01. Among the actives, Nissan Motor retreated 1.28 percent, while Mazda Motor advanced 0.96 percent, Toyota Motor shed 0.45 percent, Honda Motor eased 0.14 percent, Softbank Group soared 4.98 percent, Mitsubishi UFJ Financial and Sumitomo Mitsui Financial both climbed 1.02 percent, Mizuho Financial collected 2.13 percent, Mitsubishi Electric rallied 3.13 percent, Panasonic Holdings tumbled 1.95 percent, Hitachi accelerated 2.29 percent and Sony Group was unchanged. The lead from Wall Street is pedestrian as the major averages opened lower on Monday, moved into the green by midday but faded going into the close to end mixed and little changed.

RTTNews | 36 minit yang lalu

Rally May Stall For South Korea Stock Market

The South Korea stock market has finished higher in four straight sessions, collecting more than 160 points or 5.8 percent along the way. The KOSPI now rests just above the 2,855-point plateau although investors may lock in gains on Tuesday. The global forecast for the Asian markets is murky ahead of key upcoming talks between the United States and China. The European markets were down and the U.S. bourses were flat and the Asian markets figure to split the difference. The KOSPI finished sharply higher on Monday following gains from the financial shares, technology stocks and automobile producers. For the day, the index jumped 43.72 points or 1.55 percent to finish at 2,855.77 after trading between 2,841.39 and 2,867.27. Volume was 528.24 million shares worth 13.61 trillion won. There were 700 gainers and 200 decliners. Among the actives, Shinhan Financial collected 2.03 percent, while KB Financial rallied 4.14 percent, Hana Financial soared 5.58 percent, Samsung Electronics climbed 1.18 percent, Samsung SDI stumbled 2.01 percent, LG Electronics added 0.69 percent, SK Hynix jumped 2.00 percent, Naver improved 3.82 percent, Lotte Chemical advanced 0.82 percent, SK Innovation strengthened 1.30 percent, POSCO Holdings rose 0.39 percent, SK Telecom increased 0.95 percent, KEPCO surged 4.09 percent, Hyundai Mobis skyrocketed 10.04 percent, Hyundai Motor accelerated 4.32 percent, Kia Motors spiked 2.36 percent and LG Chem was unchanged.

RTTNews | 51 minit yang lalu

Australia Business Confidence Data Due On Tuesday

Australia will on Tuesday see May results for the indexes of business confidence and business conditions, highlighting a light day for Asia-Pacific economic activity. In April, their scores were -1 and +2, respectively.

RTTNews | 1j 51min yang lalu

Canadian Dollar Higher As US-China Trade Talks Lift Sentiment

The Canadian dollar was higher against its most major counterparts in the New York session on Monday, as investors awaited outcome of trade talks between the US and China that kicked off in London.

RTTNews | 2j 56min yang lalu

Canadian Market Up Marginally In Cautious Trade

After a flat start and a subsequent drop to lower levels, the Canadian market emerged into positive territory about an hour past noon on Monday, but remains somewhat subdued with investors seeming reluctant to make significant moves. The mood is cautious as investors await U.S. - China trade talks in London.

RTTNews | 5j 26min yang lalu

European Stocks Close Weak After Cautious Session

European markets settled lower on Monday after a subdued performance as investors awaited the outcome of U.S.-China high-level trade talks in London. Also, a lack of regional economic data and earnings news contributed to the cautious mood in the markets.

RTTNews | 5j 54min yang lalu

FDA, CDC Probe Salmonella Outbreak As Around 1.70 Mln Dozen Brown Eggs Recalled

The U.S. Food and Drug Administration and the Centers for Disease Control and Prevention or CDC are investigating a Salmonella Enteritidis outbreak linked to brown eggs that sickened nearly 79 across 7 states. Associated with the ongoing probe, August Egg Co. recalled around 1.70 million dozen brown cage-free and brown certified organic eggs sold through Walmart and other retail locations.

RTTNews | 9j 41min yang lalu

EURUSD	1.14267	GBPUSD	1.35555	AUDUSD	0.65175
USDJPY	144.566	USDCAD	1.3696	USDCHF	0.82128

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European Stocks Extend Gains To 3rd Straight Day