DAX Tumbles On Growth Worries; Banks Worst Hit

RTTNews | 954 dni temu
DAX Tumbles On Growth Worries; Banks Worst Hit

(RTTNews) - German stocks fell sharply on Monday and Eurozone bond yields rose as last week's red-hot inflation data stoked expectations of aggressive interest rate hikes by the European Central Bank.

Meanwhile, German manufacturing activity contracted for a third month in a row in September, a survey showed earlier today, adding to worries over a looming recession. S&P Global's final Purchasing Managers' Index (PMI) for manufacturing, which accounts for about a fifth of Germany's economy, dropped to 47.8, marking the lowest level since June 2020 and down from 49.1 in August.

The benchmark DAX fell 160 points, or 1.3 percent, to 11,954 after climbing 1.2 percent on Friday.

Lender Commerzbank lost 4.3 percent and Deutsche Bank plummeted 4.7 percent on concerns about Swiss bank Credit Suisse's liquidity and capital position.

United Internet fell about 1 percent despite the company confirming its FY sales forecast.

RWE AG, an energy firm, rose over 1 percent after it agreed to buy Con Edison's Clean Energy Businesses for an enterprise value of $6.8 billion.

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Australian Market Turns To Modest Gains In Mid-market

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Indian Market Likely To Open On Cautious Note

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RTTNews | 30 minut temu
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Asian Markets Mixed Amid Cautious Trades

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RTTNews | 1g 49 minut temu
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Japanese Market Significantly Lower

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RTTNews | 2g 10 minut temu
Indonesia Bourse May Test Resistance At 7,000 Points

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RTTNews | 2g 19 minut temu
Oversold Hang Seng Nonetheless Called Higher Again

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RTTNews | 2g 34 minut temu
Australian Market Slightly Lower

Australian Market Slightly Lower

The Australian market is trading slightly lower on Thursday, snapping a six-session winning streak, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is staying well below the 8,300 level, with weakness across most sectors led by gold miners and energy stocks.
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