DAX Falls On Growth Worries

RTTNews | 1148 dias atrás
DAX Falls On Growth Worries

(RTTNews) - German stocks fell sharply on Thursday as Federal Reserve chair Jerome Powell acknowledged the possibility of a recession and data showed German manufacturers saw business activity slump to its lowest level in 23 months in June.

The flash composite PMI, which tracks the manufacturing and services sectors that together account for more than two-thirds of the German economy, dropped to 51.3 from 53.7 in May.

The benchmark DAX fell 151 points, or 1.2 percent, to 12,993 after tumbling 1.1 percent the previous day.

Siemens Energy shares declined 2 percent. The German energy company and France's Air Liquide have announced a joint venture for the series production of industrial scale renewable hydrogen electrolyzers in Europe.

Real estate group Aroundtown plunged nearly 10 percent after J.P. Morgan downgraded the stock to "underweight".

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U.S. Producer Price Growth Far Exceeds Estimates In July

U.S. Producer Price Growth Far Exceeds Estimates In July

Producer prices in the U.S. increased by much more than expected in the month of July, the Labor Department revealed in a report released on Thursday. The Labor Department said its producer price index for final demand shot up by 0.9 percent in July after coming in unchanged in June. Economists had expected producer prices to rise by 0.2 percent.
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U.S. Weekly Jobless Claims Unexpectedly Dip To 224,000

U.S. Weekly Jobless Claims Unexpectedly Dip To 224,000

The Labor Department released a report on Thursday unexpectedly showing a modest decrease by first-time claims for U.S. unemployment benefits in the week ended August 9th. The report said initial jobless claims dipped to 224,000, a decrease of 3,000 from the previous week's revised level of 227,000.
RTTNews | 2 h 14 min atrás
UK GDP Rises More Than Expected

UK GDP Rises More Than Expected

The UK economy expanded more than expected in the second quarter but the overall growth softened as US frontloading propelled growth at the start of the year. Gross domestic product expanded 0.3 percent in the second quarter largely driven by growth in the service sector, the Office for National Statistics reported Thursday. Although the rate was stronger than the expected growth of 0.1 pe
RTTNews | 2 h 55 min atrás
Bay Street Likely To Open On Mixed Note

Bay Street Likely To Open On Mixed Note

Canadian shares are likely to open on a mixed note Thursday morning, reacting to data showing a bigger than expected increase in U.S. producer price index, and mixed batch of earnings data from Canada. Oil prices are up, while metals are exhibiting weakness.
RTTNews | 3 h 26 min atrás
S&P Sees Limited Impact From U.S. Tariffs On Indian Economy, Raises Ratings

S&P Sees Limited Impact From U.S. Tariffs On Indian Economy, Raises Ratings

S&P Global Ratings upgraded India's sovereign ratings on Thursday citing a buoyant economic growth, enhanced monetary policy conditions and the government's fiscal consolidation commitment, while the higher tariffs from the U.S. administration is estimated to have only limited impact on the economy. India's sovereign credit ratings were raised to 'BBB' from 'BBB-', with a 'stable' outlook.
RTTNews | 3 h 30 min atrás
Pound Rises On Upbeat U.K. GDP Data

Pound Rises On Upbeat U.K. GDP Data

The British pound strengthened against most major currencies in the European session on Thursday, as the U.K. economy rebounded at a faster-than-expected pace in June.
RTTNews | 5 h 0 min atrás