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DAX Extends Declines As Banks Drag

RTTNews | 814 days ago

DAX Extends Declines As Banks Drag

(RTTNews) - German stocks were moving lower on Monday, as banks extended declines amid concerns around the fallout from the Silicon Valley Bank (SVB) collapse.

The benchmark DAX was down 58 points, or 0.4 percent, at 15,369 after losing 1.3 percent on Friday.

Commerzbank fell 2.6 percent and Deutsche Bank dropped 1 percent amid increased concerns over the health of the U.S. banking sector and fears of contagion.

SAP declined 1.1 percent. The software group has agreed to sell all of its 423 million shares of Qualtrics International Inc. as part of the acquisition of Qualtrics by funds affiliated with Silver Lake as well as Canada Pension Plan Investment Board.

The dollar slipped lower in early European trade after bond yields have fallen in response to the SVB news.

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U.S. Private Sector Adds 37,000 Jobs In May, Much Fewer Than Expected

U.S. Private Sector Adds 37,000 Jobs In May, Much Fewer Than Expected

A report released by payroll processor ADP on Wednesday showed private sector employment in the U.S. increased by much less than expected in the month of May. ADP said private sector employment rose by 37,000 jobs in May after climbing by a downwardly revised 60,000 jobs in April. Economists had expected private sector employment to jump by 115,000 jobs.

RTTNews | 25 minutes ago

Eurozone Private Sector Expands For Fifth Month

Eurozone Private Sector Expands For Fifth Month

Euro area private sector expanded for the fifth straight month in May, but the upturn was only fractional and the slowest in three months, final results of the purchasing managers' survey by S&P Global showed on Wednesday. The HCOB composite output index fell to 50.2 in May from 50.4 in April. However, the score was above the threshold 50-mark and also the flash estimate of 49.5.

RTTNews | 48 minutes ago

U.S. Private Sector Employment Rises Much Less Than Expected In May

U.S. Private Sector Employment Rises Much Less Than Expected In May

A report released by payroll processor ADP on Wednesday showed private sector employment in the U.S. increased by much less than expected in the month of May.

RTTNews | 1h 0min ago

Bay Street May Open On Slightly Positive Note; BoC Rate Decision In Focus

Bay Street May Open On Slightly Positive Note; BoC Rate Decision In Focus

Canadian shares look headed for a positive start Wednesday morning, ahead of the Bank of Canada's interest rate decision. The Canadian central bank is widely expected to leave interest rate unchanged.

RTTNews | 1h 13min ago

FTSE 100 Up Marginally

FTSE 100 Up Marginally

U.K. stocks are up in positive territory on Wednesday even as investors assess the potential impact of the Trump administration's tariffs on steel and aluminum, in addition to digesting some corporate earnings updates and economic data.

RTTNews | 1h 35min ago

Pound Rises After Robust U.K. PMI Data

Pound Rises After Robust U.K. PMI Data

The British pound strengthened against other major currencies in the European session on Wednesday, following the release of PMI data that signaled a stronger than estimated growth in private sector in May.

RTTNews | 1h 47min ago

CAC 40 Up 0.5%; STMicroElectronics Rises Over 7%

CAC 40 Up 0.5%; STMicroElectronics Rises Over 7%

Despite lingering concerns about trade tensions, French stocks are gaining some ground in positive territory on Wednesday with investors expecting an interest rate cut from the European Central Bank on Thursday.

RTTNews | 1h 57min ago

Pound Rises Against Majors

Pound Rises Against Majors

The British pound strengthened against other major currencies in the European session on Wednesday.

RTTNews | 2h 12min ago

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