European Shares Seen Up As Commodities Face Heat

RTTNews | 1103 days ago
European Shares Seen Up As Commodities Face Heat

(RTTNews) - European stocks are likely to open higher on Friday as investors finally see some relief in surging commodity prices.

Asian markets followed Wall Street higher as traders looked ahead to U.S. inflation data due next week.

Data showed earlier in the day that Japan's annual core consumer inflation topped the central bank's target for a second straight month in May but wage growth was subdued, casting doubt over the sustainability of cost-push inflation.

The dollar traded firm and U.S. 10-year Treasury yields edged up, denting demand for gold.

Oil prices extended recent declines on fears of slower demand and amid mounting pressure on OPEC to boost output.

Retail sales data from the U.K. and business confidence figures from Germany are the major economic reports due later in the day.

Across the Atlantic, trading may be impacted by reaction to a report on new home sales as well as a revised reading on consumer sentiment.

U.S. stocks posted solid gains overnight and U.S. Treasury yields hit two-week lows as commodity prices continued to ease on worries about a possible global recession.

The Dow rose 0.6 percent, the tech-heavy Nasdaq Composite climbed 1.6 percent and the S&P 500 added 1 percent.

European stocks fell on Thursday, as factory activity data released in Japan, Britain, the euro zone and United States all pointed to signs of slowing growth and the Norwegian central bank surprised markets with a bigger than expected 50 basis point rate hike.

The pan-European STOXX 600 index declined 0.8 percent. The German DAX tumbled 1.8 percent, France's CAC 40 index shed 0.6 percent and the U.K.'s FTSE 100 dipped 1 percent.

read more
Eurozone Manufacturing Sector Contraction Slows In June

Eurozone Manufacturing Sector Contraction Slows In June

Eurozone manufacturing activity contracted at a slower pace in June as output showed a sustained expansion and total new work stabilized ending a 37-month period of decline, final survey data from S&P Global showed on Tuesday. The HCOB manufacturing Purchasing Managers' Index posted 49.5 in June, up from 49.4 in May. This was the highest score since August 2022.
RTTNews | 22 minutes ago
CAC 40 Drifts Lower As Investors Digest Economic Data, Await Tariff Moves

CAC 40 Drifts Lower As Investors Digest Economic Data, Await Tariff Moves

French stocks are exhibiting weakness on Tuesday amid uncertainty about trade negotiations between the U.S. and major nations in Europe and elsewhere ahead of the July 9 deadline for reciprocal tariffs. Investors are also digesting the region economic data, including reports on eurozone inflation and French manufacturing PMI reading.
RTTNews | 35 minutes ago
Yen Rises As Japan Tankan Data Adds To BOJ Rate-Hike Prospects

Yen Rises As Japan Tankan Data Adds To BOJ Rate-Hike Prospects

The Japanese yen strengthened against other major currencies in the European session on Tuesday, following the Bank of Japan's Tankan survey indicating that business sentiment among major Japanese firms has improved slightly, which increased the likelihood of additional rate hikes by the Japanese central bank.
RTTNews | 55 minutes ago
Yen Rises Against Majors

Yen Rises Against Majors

The Japanese yen strengthened against other major currencies in the European session on Tuesday. The yen rose to a 6-day high of 168.46 against the euro and an 8-day high of 196.80 against the pound, from early lows of 169.66 and 197.76, respectively.
RTTNews | 1h 24min ago
Sensex, Nifty Close Higher After Choppy Session

Sensex, Nifty Close Higher After Choppy Session

Indian shares ended on a positive note on Tuesday after a choppy ride as investors tracked the developments on the trade front ahead of a July 9 deadline for Trump administration's reciprocal tariffs. According to reports, India is on track to finalise an interim trade agreement with the US as soon as this week.
RTTNews | 1h 34min ago
Mixed Sentiment In Asian Markets

Mixed Sentiment In Asian Markets

Sentiment in Asian markets remains mixed amidst uncertainty about U.S. tariffs that kept investor sentiment fragile.
RTTNews | 2h 26min ago
DAX Down Nearly 0.5% As Investors Eye Trade Talks

DAX Down Nearly 0.5% As Investors Eye Trade Talks

German stocks are down in negative territory on Tuesday with investors digesting the latest batch of regional economic data, and closely following news about negotiations with the U.S. ahead of a July 9 deadline for reciprocal tariffs.
RTTNews | 2h 28min ago