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DAX Rebounds As Credit Suisse Gets Lifeline
(RTTNews) - German stocks rebounded on Thursday, with banks leading the surge after Credit Suisse Group AG said it would borrow up to 50 billion Swiss Francs or around $53.7 billion from the Swiss National Bank to pre-emptively strengthen its liquidity.
Investors also awaited a European Central Bank rate decision later in the day.
The benchmark DAX was up 178 points, or 1.2 percent, at 14,910 after tumbling 3.3 percent the previous day.
Lender Commerzbank jumped 4 percent and Deutsche Bank added 2.5 percent after recent heavy losses.
Energy firm Siemens Energy advanced 1.5 percent after announcing a capital increase.
DEUTZ lost almost 4 percent despite more than doubling its FY22 adjusted EBIT.
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Canadian Dollar Eases Against Most Majors
The Canadian dollar retreated against its most major counterparts in the New York session on Friday.
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Swiss Market Ends Sharply Lower
The Switzerland market closed weak on Friday, tracking weak global cues after U.S. President Donald Trump's latest tariff moves raised fears of a global trade war.
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European Stocks Close Weak As Trade War Fears Hurt Sentiment
European stocks closed lower on Friday as trade war fears resurfaced after U.S. President Donald Trump announced a 35% tariff on Canadian goods, effective August 1, 2025, and warned of a blanket tariff of 15-20% on most trading partners.
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Canadian Market Remains Weak On Tariff Concerns
After a weak start and a subsequent drop to lower levels, the Canadian market continues to languish in negative territory a little past noon on Friday. The mood is cautious amid escalating trade war fears following U.S. President Donald Trump announced a 35% tariff on all non-USMCA Canadian imports, effective August 1.
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Bay Street Likely To Open Lower
Canadian shares look headed for a weak start on Friday due to trade war concerns, although fairly firm crude oil and bullion prices may help limit the market's downside. Data showing an increase in Canadian employment in the month of June and a drop in the unemployment rate may also aid sentiment a bit.
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Pound Falls As U.K. Economy Contracts For Second Straight Month
The British pound weakened against other major currencies in the European session on Friday, as the UK economy shrank for the second consecutive month in May, adding challenges to Chancellor Rachel Reeves in achieving her self-imposed borrowing rules.
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Wall Street Likely To Open On Weak Note
Lower futures and escalating fears of a global trade war point to a weak start for U.S. stocks Friday morning.
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Pound Falls Against Majors
The British pound weakened against other major currencies in the European session on Friday.
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