European Shares Edge Higher Led By Commodity Stocks

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(RTTNews) - European stocks traded higher on Wednesday as stronger commodity prices on the back of a weaker dollar boosted mining and energy stocks.

The upside remained capped as investors awaited U.S. consumer inflation data as well as Fed minutes from the March meeting for clues on the monetary path of the central bank.

U.S. core inflation is forecast to ease both on a monthly and yearly basis in March.

Closer home, French central bank chief Francois Villeroy de Galhau on Tuesday said inflation in the euro zone is at risk of getting entrenched above 2 percent and that underlying inflation readings and the effectiveness of policy transmission will be the key factors in the next decisions.

Commentary from ECB Vice President Luis de Guindos is awaited later in the day.

The pan-European STOXX 600 edged up 0.2 percent to 462.71 after rising 0.6 percent in the previous session.

The German DAX, France's CAC 40 index and the U.K.'s FTSE 100 were up 0.2 percent, 0.3 percent and 0.6 percent, respectively.

Truck maker AB Volvo soared 7.6 percent after reporting record first-quarter profits on higher revenue and margins.

Zurich Insurance plummeted 5.4 percent to snap a four-day winning streak. Merck slumped 6.5 percent. The German pharmaceutical company said the FDA has placed a partial clinical hold on the initiation of new patients on evobrutinib and patients with less than 70 days exposure to study medication in the U.S.

Miners extended gains from the previous session on China stimulus hopes. Antofagasta rose 0.8 percent and Glencore added 1.3 percent.

Oil & gas firm BP Plc gained 0.8 percent, Shell advanced 1.4 percent and TotalEnergies added 0.9 percent after crude prices jumped nearly 2 percent overnight.

Petrofac plunged more than 16 percent. The oilfield services provider said it expects to report a full year Group EBIT loss of about US$150 million to US$170 million for 2022, including an EBIT loss of about US$240 million to US$260 million in Engineering & Construction.

French luxury group LVMH was marginally higher ahead of an update on its first-quarter sales.

Deutsche Bank shares rose 1.4 percent. The German bank is winding down its remaining software technology operations in Moscow and St Petersburg to end two decades of reliance on Russian IT expertise, the Financial Times reported.

Car manufacturer Mercedes Benz gained 0.7 percent after sales rose moderately in the first quarter of this year.

European Shares Slide As Auto Stocks Weigh

European stocks were broadly lower on Monday as investors awaited a key U.S. inflation reading as well as comments from several Federal Reserve officials this week for additional clues on the Federal Reserve's rate trajectory.

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Asian Shares Mixed As Investors Ponder Fed's Rate Path

Asian stocks turned in a mixed performance on Monday as investors wondered how U.S. President Donald Trump's crackdown on immigration will reshape the world's largest economy in the short and long term.

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Dollar Edges Up After Fed's Cautious Rate Cut

The six-currency Dollar Index which measures the U.S. dollar's strength against a basket of 6 currencies edged up during the week ended September 19 amidst a cautious rate cut by the Federal Reserve as well as status quo by Bank of England and Bank of Japan.

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European Shares Seen Mostly Lower In Cautious Trade

European stocks are seen opening flat to slightly lower on Monday as investors react to the Trump administration's immigration crackdown on H-1B visas and shift focus to a slew of U.S. economic data as well as speeches by Fed Chair Jerome Powell and other Fed officials due this week for additional clues on the future path of interest rates.

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China Leaves Key Interest Rates Unchanged

The People's Bank of China left its benchmark interest rates unchanged for the fourth straight month despite key indicators suggesting economic slowdown. The PBoC kept its one-year loan prime rate unchanged at 3.0 percent. Similarly, the five-year LPR, the benchmark for mortgage rates, was retained at 3.50 percent. The decision came in line with expectations.

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Sensex, Nifty Little Changed; IT Stocks Tumble After H-1B Visa Fee Increase

Indian shares were little changed on Monday despite U.S. President Donald Trump's decision to impose a hefty $100000 fee on H-1B visas to protect American jobs.

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Australian Market Trims Early Gains In Mid-market

The Australian stock market is trimming its early gains in mid-market trading on Monday, but adding to the gains in the previous session, following the broadly positive cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is moving above the 8,800.00 level, with gains across most sectors led by mining and financial stocks.

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Asian Markets Trade Mixed

Asian stock markets are trading mixed on Monday, following the positive cues from Wall Street on Friday, as the recent interest rate cut decision by the US Fed and the forecast by Fed officials of two more rate cuts this year but just one next year, continue to lift market sentiment. However, major currencies in the region weakened against the US dollar. Asian markets closed mixed on Friday.

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EURUSD	1.17749	GBPUSD	1.35014	AUDUSD	0.65969
USDJPY	147.872	USDCAD	1.38092	USDCHF	0.7944