DAX Up Nearly 1% On Trade Deal Hopes; Auto Stocks Rally

RTTNews | 20天前
DAX Up Nearly 1% On Trade Deal Hopes; Auto Stocks Rally

(RTTNews) - German stocks are up on Wednesday, rebounding from recent losses, as prospects of a trade agreement between the U.S. and EU increased after U.S. President Donald Trump announced trade deals with Japan and Philippines.

"We have Europe coming in tomorrow, and the next day, we have some other ones coming in," Trump said late on Tuesday, without specifying details.

The benchmark DAX was up 234.79 points or 0.97% at 24,261.96 a little while ago.

Auto stocks are leading the charge up north. Porsche is gaining about 7.5%. Volkswagen is up 6.5%, Mercedes-Benz is climbing up 6%, Daimler Truck Holding is advancing 5.8%, Porsche Automobil Holding is rising 5.3% and BMW is rallying 5.2%.

Deutsche Post is gaining 3.75%. Brenntag, Deutsche Bank, Siemens, Continental, BASF, Beiersdorf, Qiagen, Henkel, Allianz, Hannover Rueck, Siemens Healthineers, Bayer, Munich RE and Heidelberg Materials are up 1.5 to 3%.

SAP is down more than 3%. The company maintained its full-year targets despite reporting higher quarterly sales and earnings.

E.ON is down nearly 2%, Infineon Technologies is down 1.7% and Adidas is lower by about 1%. RWE and Vonovia are also down in negative territory.

read more
Euro Slides On Downbeat German Economic Sentiment Data

Euro Slides On Downbeat German Economic Sentiment Data

The euro weakened against other major currencies in the European session on Tuesday, after German economic confidence deteriorated sharply in August due to disappointing EU-US trade deal.
RTTNews | 1小时19分钟前
CAC 40 Up Marginally In Cautious Trade

CAC 40 Up Marginally In Cautious Trade

The French market is slightly higher on Tuesday with stocks turning in a mixed performance as investors weigh the potential impact of tariffs. The decision of the U.S. government to extend its pause on higher tariffs for Chinese goods until November 10 is aiding sentiment a bit.
RTTNews | 1小时27分钟前
Pound Rises On Upbeat U.K. Employment Data

Pound Rises On Upbeat U.K. Employment Data

The British pound strengthened against other major currencies in the European session on Tuesday, following the release of the upbeat United Kingdom (UK) labor market data for the three-months ending June.
RTTNews | 1小时48分钟前
DAX Retreats After Positive Start, Down 0.3%

DAX Retreats After Positive Start, Down 0.3%

Despite opening on a positive note amid easing trade tensions, the German market is down in negative territory Tuesday afternoon, with investors turning cautious, looking ahead to U.S. consumer price inflation data due later in the day. Weak economic sentiment reading is also weighing on sentiment.
RTTNews | 2小时1分钟前
Pound Rises Against Majors

Pound Rises Against Majors

The British pound strengthened against other major currencies in the European session on Tuesday.
RTTNews | 2小时8分钟前
Australia Trims Key Interest Rate For Third Time This Year; Cuts Growth Outlook

Australia Trims Key Interest Rate For Third Time This Year; Cuts Growth Outlook

The Reserve Bank of Australia reduced its benchmark interest rate by a quarter-point for the third time this year as underlying inflation continued to moderate, while economic growth outlook was lowered due to weaker-than-expected recovery in public demand. The board decided to trim the cash rate target by 25 basis points to 3.60 percent. The decision was unanimous.
RTTNews | 2小时22分钟前