DAX Rallies On Optimism Fed Is Done With Rate Hikes

RTTNews | 574 days ago
DAX Rallies On Optimism Fed Is Done With Rate Hikes

(RTTNews) - German stocks rallied on Thursday after the U.S. Federal Reserve left interest rates unchanged and hinted at halting further interest rate hikes.

The benchmark DAX was up 85 points, or 1.2 percent, at 7,018 after gaining 0.8 percent the previous day.

Online fashion retailer Zalando rose 1.1 percent after narrowing its Q3 net loss. Fresenius Medical Care rose about half a percent after raising its FY operating income outlook. Hugo Boss jumped 4 percent. The fashion house confirmed its FY23 outlook after delivering Q3 sales in line with expectations.

Airline Lufthansa surged 6.4 percent after reporting higher Q3 profit and confirming the outlook for FY23 and FY24.

Klockner added 1.5 percent. The steel and metal distributing company said its U.S. subsidiary Kloeckner Metals Corp has agreed to acquire Industrial Manufacturing Services for an undisclosed amount.

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Yen Falls As U.S. Court Blocks Trump's Tariffs

Yen Falls As U.S. Court Blocks Trump's Tariffs

The Japanese yen weakened against other major currencies in the Asian session on Thursday, after a U.S. federal court blocked U.S. President Donald Trump's attempt to impose sweeping reciprocal tariffs against its global trading partners under emergency powers, saying he exceeded his authority.
RTTNews | 2h 55min ago
European Shares Set To Open On Buoyant Note

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Bank Of Korea Cuts Policy Rate By 25 Bps

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The Bank of Korea lowered its benchmark rate by a quarter-point to mitigate downside pressure on the economy. The monetary policy board, governed by Rhee Chang Yong, unanimously decided to cut the Base Rate by 25 basis points to 2.50 percent. The bank had previously reduced the benchmark rate by a quarter-point in February.
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Yen Falls Against Majors

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The Japanese yen weakened against other major currencies in the Asian session on Thursday.
RTTNews | 4h 28min ago
Sensex, Nifty Modestly Higher; IT Stocks Lead Gains

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Indian shares opened on a firm note Thursday after technology giant Nvidia buoyed investors with a bullish outlook for the growth in artificial intelligence and the U.S. Court of International Trade blocked President Trump's proposed "Liberation Day" tariffs, saying he had overstepped his authority.
RTTNews | 5h 0min ago
Australian Market Slightly Trims Early Gains In Mid-market

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The Australian market is slightly trimming its early gains in mid-market moves on Thursday, reversing the slight losses in the previous session, despite the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving above the 8,400 level, with gains in energy and technology stocks partially offset by a mixed performance in mining and financial stocks.
RTTNews | 5h 57min ago