European Shares Mostly Higher As Powell Hints At Smaller Rate Hikes

RTTNews | 1008天前

(RTTNews) - European stocks were broadly higher on Thursday, with Fed Chair Jerome Powell's dovish remarks on the pace of rate hikes and signs of easing COVID curbs in China helping underpin investor sentiment.

Powell said on Wednesday it was time to slow down U.S. rate rises but warned that interest rates could peak at higher-than-expected levels due to stubborn inflation in the country.

The pan European STOXX 600 climbed 0.6 percent to 442.74, the German DAX rose 0.3 percent and the U. K's FTSE 100 edged up 0.2 percent while France's CAC 40 index was marginally lower, giving up earlier gains.

Tech stocks led the surge, with Infineon Technologies rising 2 percent and ASM International climbing 5 percent.

Valneva SE shares jumped nearly 4 percent in Paris. Pfizer Inc. and the French biotech company reported today six-month antibody persistence data for Lyme disease vaccine candidate VLA15 in both children and adults.

Belgian biopharmaceutical company UCB lost 5 percent after JPMorgan cut its target price on the stock.

Energy stocks fell as oil prices dipped amid uncertainty about OPEC's decision on production at the Sunday meeting. BP Plc dropped 1 percent and Shell lost 1.4 percent.

Lender HSBC declined 1.2 percent after it agreed to sell its business in Canada to Royal Bank of Canada.

Online grocer Ocado jumped almost 7 percent after launching a new supplier insights product to help drive sales and increase revenue.

Components maker Essentra rose over 2 percent after buying Wixroyd Group, a supplier of industrial parts for the engineering sector.

In economic releases, investors looked past data showing that German retail sales fell more than expected in October as a result of concerns surrounding inflation.

Retail sales contracted by 5 percent year-on-year in October, the federal statistics office said. That was well below forecasts for a 2.8 percent decline. Sales fell 2.8 percent month-on-month.

U.K. house prices fell the most since June 2020 reflecting the loss of momentum in the property market amid the stretched housing affordability, data published from the Nationwide Building Society showed.

House prices dropped by a more-than-expected 1.4 percent on a monthly basis in November, after easing 0.9 percent in October.

The Eurozone manufacturing PMI stood at 47.1 in November, up from October's 46.4 but down from a preliminary estimate of 47.3.

Swiss Franc Falls Against Majors

The Swiss franc dropped against its major counterparts in the New York session on Thursday.

RTTNews | 56分钟前

Canadian Market Looks Headed For Another Positive Close

The Canadian market is firmly placed in positive territory Thursday afternoon, thanks largely to a fine performance by several technology stocks, and a few frontline stocks from consumer discretionary, real estate, communications and financials sectors.

RTTNews | 3小时31分钟前

Swiss Market Closes On Buoyant Note

The Switzerland market closed on a strong note on Thursday, in line with most of the markets across Europe, amid rising expectations of a rate cut by the Federal Reserve, and easing concerns about tariffs.

RTTNews | 4小时5分钟前

European Stocks Close Higher Ahead Of Crucial U.S. Jobs Data

European stocks closed mostly higher on Thursday, with most of the markets in the region gaining for a second straight day amid cooling bond markets. Still, the mood in the markets remained a bit cautious with investors looking ahead to crucial U.S. non-farm payroll data on Friday.

RTTNews | 4小时41分钟前

U.S. Services Index Climbs To Six-Month High In August

Service sector growth in the U.S. accelerated by more than anticipated in the month of August, according to a report released by the Institute for Supply Management on Thursday. The ISM said its services PMI rose to 52.0 in August from 50.1 in July, with a reading above 50 indicating growth. Economists had expected the index to inch up to 50.5.

RTTNews | 7小时8分钟前

U.S. Labor Productivity Surges 3.3% In Q2, Much More Than Previously Estimated

A report released by the Labor Department on Thursday showed labor productivity in the U.S. surged by much more than previously estimated in the second quarter of 2025. The Labor Department said labor productivity shot up by 3.3 percent in the second quarter compared to the previously reported 2.4 percent jump. Economists had expected the increase in labor productivity to be unrevised.

RTTNews | 7小时26分钟前

U.S. Trade Deficit Widens More Than Expected As Imports Spike

With the value of imports spiking, the Commerce Department released a report on Thursday showing the U.S. trade deficit widened more than expected in the month of July. The Commerce Department said the trade deficit shot up to $78.3 billion in July from a revised $59.6 billion in June. Economists had expected the trade deficit to increase to $75.7 billion.

RTTNews | 7小时56分钟前

U.S. Jobless Claims Rise More Than Expected To Two-Month High

A day ahead of the release of the more closely watched monthly jobs report, the Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits rose by more than expected in the week ended August 30th. The Labor Department said initial jobless claims climbed to 237,000, an increase of 8,000 from the previous week's unrevised level of 229,000.

RTTNews | 8小时0分钟前

EURUSD	1.1646	GBPUSD	1.34302	AUDUSD	0.6515
USDJPY	148.4	USDCAD	1.3818	USDCHF	0.80512