DAX Rallies As Banks Climb After Record ECB Rate Hike

RTTNews | 1083 days ago
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.

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Australian Market Trims Early Losses In Mid-market

Australian Market Trims Early Losses In Mid-market

The Australian market is trimming early losses in mid-market moves on Thursday, giving up some of the gains in the previous session, despite the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling to near the 8,950 level, with weakness in iron ore miners, energy and technology stocks partially offset by gains in financial stocks.
RTTNews | 1h 22min ago
Asian Markets Trade Mostly Higher

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RTTNews | 1h 38min ago
Swiss Market Settles Modestly Higher

Swiss Market Settles Modestly Higher

The Switzerland market closed modestly higher on Wednesday after staying firm right through the day's session, thanks to fairly strong buying at several counters. The benchmark SMI closed up by 46.23 points or 0.38% at 12,207.12. The index moved between 12,166.23 and 12,226.36 during the session.
RTTNews | 2h 20min ago
Japanese Market Notably Higher

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The Japanese market is trading notably higher on Thursday after opening in the red, extending the gains in the previous session, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving well above the 42,650 level, with gains in index heavyweights, automakers and financial stocks.
RTTNews | 2h 28min ago
Thai Bourse May Halt Losing Streak On Thursday

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The Thai stock market has moved lower in back-to-back sessions, slipping almost 15 points or 1.2 percent along the way. The Stock Exchange of Thailand now sits just beneath the 1,250-point plateau although it may stop the bleeding on Thursday.
RTTNews | 2h 37min ago
Australian Market Slightly Lower

Australian Market Slightly Lower

The Australian market is slightly lower in choppy trading on Thursday, giving up some of the gains in the previous session, despite the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 8,950 level, with weakness in iron ore miners, energy and technology stocks partially offset by gains in financial stocks.
RTTNews | 2h 45min ago
Indonesia Shares Tipped To Open In The Green

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RTTNews | 3h 7min ago