European Shares Inch Higher In Cautious Trade

RTTNews | 981 days ago

(RTTNews) - European stocks rose on Monday after China unveiled a sweeping rescue package to salvage its real estate market.

The upside, however, remained limited after a top Federal Reserve official warned against bets of the U.S. central bank turning too dovish.

The U.S. Federal Reserve may consider slowing the pace of rate increases at its next meeting but that should not be seen as a "softening" of its battle against inflation, Federal Reserve Gov. Christopher Waller said on Sunday.

The pan European STOXX 600 edged up 0.2 percent to 432.97 after finishing marginally higher on Friday.

The German DAX gained 0.3 percent, while France's CAC 40 index and the U.K.'s FTSE 100 both added around 0.4 percent.

The British pound eased ahead of the U.K. Chancellor's Autumn Statement on Thursday where he is expected to set out tax rises and spending cuts.

Swiss pharmaceutical company Roche tumbled 3.9 percent after its much-awaited drug for Alzheimer's disease failed two long-awaited trials.

Rheinmetall AG, a German automotive and arms maker, jumped 2.9 percent.

The company announced its agreement with Spain's MaxamCorp. Holding S.L. to acquire Expal Systems S.A, a Madrid-based ammunition maker.

Orange, a French telecom major, rose 1 percent. The company said that its cyber-security arm, Orange Cyberdefense, has acquired SCRT and Telsys, two Swiss sister firms with expertise in cyber-security and related services for an undisclosed amount.

Miners Antofagasta and Glencore rose 1-2 percent as London copper prices hovered near a five-month high on China demand hopes.

John Wood Group, an engineering and consulting firm, plunged 5 percent after saying it has reached a settlement agreement with Enterprise Products Operating LLC on legacy lawsuit.

Indivior gained nearly 1 percent after it inked a deal to acquire Opiant for $20 per share or around $145 million in cash.

Informa, a publishing, business intelligence, and exhibitions company, jumped 5.2 percent after raising its full-year earnings guidance.

Singapore Inflation Data Due On Wednesday

Singapore will on Wednesday release June figures for consumer prices, highlighting a light day for Asia-Pacific economic activity. In May, overall inflation was up 0.6 percent on month and 0.8 percent on year, while core CPI rose an annual 0.6 percent.

RTTNews | 1h 4min ago

South Korea Consumer Confidence Index Improves In July - BoK

Consumer confidence in South Korea strengthened in July, the latest survey from the Bank of Korea showed on Wednesday with an index score of 110.8 - up from 108.7 in June.

RTTNews | 1h 43min ago

U.S. Dollar Falls On Tariff Uncertainty

The U.S. dollar fell against its major counterparts in the New York session on Tuesday, amid fading hopes of a trade deal between the country and Europe.

RTTNews | 2h 21min ago

Swiss Market Ends Lower Again

The Switzerland market ended on a weak note on Tuesday, in line with market across Europe, as uncertainty over U.S. - EU trade talks and a lack of positive data rendered the mood cautious.

RTTNews | 5h 40min ago

European Stocks Close Weak On Trade Deal Concerns, Weak Earnings Updates

European stocks closed weak on Tuesday, extending previous session's losses, amid growing uncertainty over U.S.- EU trade talks, and some disappointing earnings updates. Investors were largely cautious, assessing the possible move of the U.S. and the European Union in the event of the ongoing trade negotiations failing to result in any meaningful solution to the tariff issues.

RTTNews | 6h 16min ago

Bay Street Likely To Open On Weak Note

Canadian shares are likely to open lower on Tuesday, tracking weak European markets amid growing uncertainty over U.S. - EU trade talks. Weak crude oil and bullion prices may hurt as well. The economic calendar is blank and there are no big earnings news as well. The mood in the market is likely to remain cautious.

RTTNews | 10h 28min ago

GM Q2 Results Down, Yet Beat Market; Backs FY25 View; Shares Hit

Automajor General Motors Co. on Tuesday maintained its fiscal 2025 earnings outlook, after reporting weak profit and revenues in its second quarter. However, adjusted earnings and top line beat market estimates. In the pre-market activity on the NYSE, General Motors shares were losing around 3.7 percent.

RTTNews | 11h 51min ago

FTSE Flat At Noon; Compass Group, Centrica Post Strong Gains

U.K. stocks are turning in a mixed performance in cautious trade on Tuesday with investors reacting to some earnings updates, and assessing the possible move of the U.S. and the European Union in the event of the ongoing trade negotiations failing to result in any meaningful solution to the tariff issues.

RTTNews | 11h 51min ago

EURUSD	1.17493	GBPUSD	1.35264	AUDUSD	0.65538
USDJPY	146.633	USDCAD	1.36031	USDCHF	0.79258

Advertisement

European Shares Inch Higher In Cautious Trade