European Shares Seen Tad Lower Amid China COVID Worries

RTTNews | 976 days ago
European Shares Seen Tad Lower Amid China COVID Worries

(RTTNews) - European stocks may open a tad lower on Wednesday as COVID-19 cases in China continued to surge despite harsh lockdowns and mass testing.

Cases hit the highest in more than five months in Beijing, with 78 new infections reported for Wednesday.

Traders were also tracking results of the U.S. mid-term elections, with the Democrats and Republicans fighting for control over the two chambers of Congress.

Republicans are expected to take control of the House and possibly the Senate.

Equity markets are riding high on the possibility of a divided government that could prevent major policy changes.

Asian markets traded mixed while the dollar remained under pressure ahead of the U.S. consumer price inflation report due on Thursday, which might suggest the path for interest rates ahead.

Economists expect a modest slowdown in the annual rate of consumer price growth, which could add to optimism about a slowdown in the pace of rate hikes.

Meanwhile, consumer prices in China were up 2.1 percent on year in October, the National Bureau of Statistics said earlier today. That was shy of expectations for an increase of 2.4 percent and down from 2.8 percent in September.

Producer prices slipped 1.3 percent on year in October, beneath expectations for a decline of 1.5 percent following the 0.9 percent increase in September.

Gold steadied near one-month high while oil prices fell for a third day after industry data pointed to rising U.S. inventories.

U.S. stocks rose for a third straight session overnight as traders awaited the outcome of the U.S. midterm elections, which could affect government spending, new taxes and regulations.

The Dow rallied 1 percent to reach over two-month highs, while the tech-heavy Nasdaq Composite rose half a percent and the S&P 500 gained 0.6 percent.

European stocks ended a lackluster session on a positive note Tuesday. The pan European Stoxx 600 advanced 0.8 percent.

The German DAX climbed 1.2 percent, France's CAC 40 index rose 0.4 percent and the U.K.'s FTSE 100 finished marginally higher.

read more
Swiss Market Ends Sharply Lower

Swiss Market Ends Sharply Lower

The Switzerland market closed weak on Friday, tracking weak global cues after U.S. President Donald Trump's latest tariff moves raised fears of a global trade war.
RTTNews | 1 day ago
European Stocks Close Weak As Trade War Fears Hurt Sentiment

European Stocks Close Weak As Trade War Fears Hurt Sentiment

European stocks closed lower on Friday as trade war fears resurfaced after U.S. President Donald Trump announced a 35% tariff on Canadian goods, effective August 1, 2025, and warned of a blanket tariff of 15-20% on most trading partners.
RTTNews | 1 day ago
Canadian Market Remains Weak On Tariff Concerns

Canadian Market Remains Weak On Tariff Concerns

After a weak start and a subsequent drop to lower levels, the Canadian market continues to languish in negative territory a little past noon on Friday. The mood is cautious amid escalating trade war fears following U.S. President Donald Trump announced a 35% tariff on all non-USMCA Canadian imports, effective August 1.
RTTNews | 1 day ago
Bay Street Likely To Open Lower

Bay Street Likely To Open Lower

Canadian shares look headed for a weak start on Friday due to trade war concerns, although fairly firm crude oil and bullion prices may help limit the market's downside. Data showing an increase in Canadian employment in the month of June and a drop in the unemployment rate may also aid sentiment a bit.
RTTNews | 1 day ago
Pound Falls As U.K. Economy Contracts For Second Straight Month

Pound Falls As U.K. Economy Contracts For Second Straight Month

The British pound weakened against other major currencies in the European session on Friday, as the UK economy shrank for the second consecutive month in May, adding challenges to Chancellor Rachel Reeves in achieving her self-imposed borrowing rules.
RTTNews | 1 day ago
Pound Falls Against Majors

Pound Falls Against Majors

The British pound weakened against other major currencies in the European session on Friday.
RTTNews | 1 day ago