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DAX Tumbles On Inflation, Growth Worries
(RTTNews) - German stocks fell sharply on Friday and bond yields extended their climb, as worries about inflation and interest-rate rises gripped markets.
U.S. social media company Snap Inc's bleak fourth-quarter outlook also reminded the risk of recession.
The benchmark DAX fell 205 points, or 1.6 percent, to 12,562 after rising 0.2 percent on Thursday.
METRO AG shares fell about 1 percent. After reporting a 11.8 percent increase in sales in the fourth quarter of its financial year, the wholesale giant warned that the next year continues to be challenging with high inflation and growing cost pressure.
Adidas plunged nearly 9 percent as the sporting goods maker cut its full-year outlook, citing weakening demand.
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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.
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49 minutes ago
European Shares Extend Gains On Trade Deal Optimism
European stocks rose for a fourth consecutive session on Thursday as optimism prevailed about a potential trade deal between the U.S. and the European Union.
EU trade chief Maros Sefcovic said there was good progress on a framework trade agreement and a deal may even be possible within days.
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1h 22min ago
Asian Shares Mostly Higher Despite Trump's Tariff Threats
Asian stocks ended Thursday's session mostly higher, unfazed by U.S. President Donald Trump's latest tariff salvos.
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1h 48min ago
U.S. Dollar Falls Against Majors
The U.S. dollar weakened against other major currencies in the Asian session on Thursday.
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1h 49min ago
Canadian Dollar Climbs Against Most Majors
The Canadian dollar strengthened against most major currencies in the early European session on Thursday.
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2h 3min ago
NZ Dollar Advances Against Most Majors
The New Zealand dollar strengthened against most major currencies in the early European session on Thursday.
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2h 12min ago
Australian Dollar Rises Against Majors
The Australian dollar strengthened against other major currencies in the early European session on Thursday.
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2h 22min ago
Bank Of Korea Keeps Rates Steady
The Bank of Korea maintained its interest rate on Thursday as rising house prices and household debt pose risks to the financial stability amid escalating trade tensions weighing on economic growth outlook. The Monetary Policy Board decided to leave the Base Rate unchanged at 2.50 percent.
The bank had previously reduced the benchmark rate by a quarter-point each in May and February.
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3h 55min ago
