DAX Rallies As Banks Climb After Record ECB Rate Hike

RTTNews | 1035 days ago
Stocktwits
DAX Rallies As Banks Climb After Record ECB Rate Hike

(RTTNews) - German stocks rallied on Friday, a day after the European Central Bank (ECB) reinforced its fight against inflation by delivering a 75-basis-point rate hike.

The ECB must raise interest rates further to prevent record euro-zone inflation from spilling over into wages, Governing Council member Klaas Knot said.

Separately, Slovakia's Peter Kazimir called for "resolute hikes" to tackle "painfully" high inflation.

The benchmark DAX jumped 195 points, or 1.5 percent, to 13,099 after finishing marginally lower the previous day.

Banks, which would benefit from higher interest rates, advanced on expectations that the ECB will deliver another supersized interest rate increase in October.

Commerzbank soared 5.5 percent and Deutsche Bank climbed 3.1 percent.

Stocktwits
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U.S. Jobless Claims Unexpectedly Slip To 227,000

U.S. Jobless Claims Unexpectedly Slip To 227,000

First-time claims for U.S. unemployment benefits unexpectedly edged modestly lower in the week ended July 5th, according to a report released by the Labor Department on Thursday.
RTTNews | 1h 51min ago
U.S. Weekly Jobless Claims Unexpectedly Edge Lower

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First-time claims for U.S. unemployment benefits unexpectedly edged modestly lower in the week ended July 5th, according to a report released by the Labor Department on Thursday.
RTTNews | 3h 4min ago
Bay Street Seen Opening On Mixed Note

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RTTNews | 3h 6min ago
FTSE 100 Rises To Record High As Mining Stocks Rally

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RTTNews | 4h 16min ago
CAC 40 Moderately Higher On Trade Deal Hopes

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RTTNews | 4h 50min ago
DAX Modestly Up After Hitting Fresh Record High

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RTTNews | 5h 10min ago
Commodity Currencies Rise Amid Renewed Tariff Concerns; USD Slide

Commodity Currencies Rise Amid Renewed Tariff Concerns; USD Slide

The commodity currencies such as Australia, the New Zealand and the Canadian dollars strengthened against their major counterparts in the early European session on Thursday, as traders are optimistic about an end to the tariff uncertainty after U.S. President Donald Trump made it clear that he will not extend the August 1 deadline for trade deals, though he gets aggressive with tariff imposition. They are also optimistic about a potential trade deal between the U.S. and the European Union.
RTTNews | 6h 5min ago
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