European Markets Close Lower On Concerns Over Potential Banking Crisis

RTTNews | 837 days ago
European Markets Close Lower On Concerns Over Potential Banking Crisis

(RTTNews) - Despite some troubled U.S. and European banks securing some lifelines, European stocks closed lower on Friday as worries about a potential banking crisis rendered the mood quite bearish.

The pan European Stoxx 600 ended 1.21% down. The U.K.'s FTSE 100 declined 1.01%, Germany's DAX fell 1.33% and France's CAC 40 dropped 1.43%, while Switzerland's SMI shed 0.98%.

Among other markets in Europe, Austria, Belgium, Denmark, Finland, Greece, Ireland, Netherlands, Norway, Poland, Portugal, Spain, Sweden and Turkiye ended with sharp to moderate losses.

Iceland and Russia posted gains, while Czech Republic ended flat.

In the UK market, BT Group tumbled more than 6%. ABRDN ended 5.55% down. Hiscox, Ocado Group, Rolls-Royce Holdings, Prudential, Smurfit Kappa Group, Legal & General Group, Melrose Industries and Aviva ended lower by 3 to 5%.

Persimmon, HSBC Holdings, Mondi, Beazley, Kingfisher, Next, Lloyds Banking Group, Standard Chartered and B&M European Value Retail lost 2.5 to 3%.

Endeavour Mining, Glencore, Fresenillo, Imperial Brands, Anglo American Plc and GSK gained 1 to 2.5%.

In Paris, Renault ended nearly 5% down. Engie, Veolia, BNP Paribas, AXA, Publicis Groupe, Hermes International, Airbus Group, Saint Gobain, Carrefour and Credit Agricole lost 2 to 3%.

In the German market, Siemens Energy, Commerzbank, Vonovia, Continental, RWE, E.ON, Siemens, Puma, Munich RE, Hannover Rueck, MTU Aero Engines, HeidelbergCement, Allianz and Volkswagen lost 2 to 4.5%.

Covestro and Infineon Technologies ended sharply higher. Siemens Healthineers, Deutsche Post and Bayer posted modest gains.

On the economic front, Eurozone harmonized prices logged a slower increase in February, while core inflation accelerated to a record as estimated initially. The underlying inflation is likely to remain sticky with wage growth gaining strength towards the end of 2022.

The harmonized index of consumer prices, or HICP, increased 8.5 percent on a yearly basis. That was slightly slower than the 8.6% gain in January, final data from Eurostat showed. The rate also matched the initial estimate published on March 2.

Meanwhile, core inflation that excludes the volatile prices of energy, food, alcohol and tobacco, accelerated to a record 5.6%, matching the preliminary estimate, from 5.3% in January.

On a monthly basis, the HICP gained 0.8% in February, which also matched the initial estimate.

read more
Australian Market Trims Early Gains In Mid-market

Australian Market Trims Early Gains In Mid-market

The Australian stock market is trimming its early gains in mid-market moves on Wednesday, reversing the slight losses in the previous session, with the benchmark S&P/ASX 200 well moving above the 8,550 level, following the mixed cues from Wall Street overnight, with gains in iron ore miners and energy stocks as well as a mixed performance in all other sectors.
RTTNews | 1h 41min ago
Asian Markets Mixed In Cautious Trades

Asian Markets Mixed In Cautious Trades

Asian stock markets are trading mixed on Wednesday, following the mixed cues from Wall Street overnight, as traders cautiously watch developments on the tariff front as the deadline of July 9 set by the US President Donald Trump nears. US Fed Chair Jerome Powell stated that the looming threat of a global trade war stopped the Fed from slashing interest rates. Asian markets closed mixed on Tuesday.
RTTNews | 1h 53min ago
Sensex, Nifty Seen Flat To Higher At Open

Sensex, Nifty Seen Flat To Higher At Open

Indian shares look set to open higher on Wednesday as reports suggest that the India-U.S. trade deal is in its final stages of negotiations.
RTTNews | 2h 45min ago
Japanese Market Significantly Lower

Japanese Market Significantly Lower

The Japanese stock market is significantly lower on Wednesday, extending the sharp losses in the previous session, following the mixed cues from Wall Street overnight. The Nikkei 225 is falling well below the 39,650 level, with weakness in technology and financial stocks as well as mixed performance in most other sectors.
RTTNews | 3h 2min ago
Rally May Stall For Thai Stock Market

Rally May Stall For Thai Stock Market

The Thai stock market has moved higher in two straight sessions, collecting almost 30 points or 2.8 percent along the way. The Stock Exchange of Thailand now sits just above the 1,110-point plateau although it may run out of steam on Wednesday.
RTTNews | 3h 19min ago
Australian Market Notably Higher

Australian Market Notably Higher

Australian shares are trading notably higher on Wednesday, reversing the slight losses in the previous session, with the benchmark S&P/ASX 200 moving above the 8,550 level, following the mixed cues from Wall Street overnight, with gains in iron ore miners and energy stocks as well as a mixed performance in all other sectors.
RTTNews | 3h 45min ago
Soft Start Called For Indonesia Stock Market

Soft Start Called For Indonesia Stock Market

The Indonesia stock market on Tuesday ended the two-day winning streak in which it had added almost 100 points or 1.3 percent. The Jakarta Composite Index now sits just above the 6,915-point plateau and the losses may accelerate on Wednesday.
RTTNews | 3h 49min ago