DAX Rallies On Fed Optimism

RTTNews | 662 dias atrás
DAX Rallies On Fed Optimism

(RTTNews) - German stocks climbed on Thursday amid optimism the Federal Reserve is nearing the end of its tightening cycle.

The benchmark DAX was up 158 points, or nearly 1 percent, at 16,290 ahead of the ECB rate announcement due later in the day.

The European Central Bank looks all but certain to hike the deposit rate by 25 bps but there is considerable uncertainty about the central bank's guidance for September's monetary policy.

In corporate news, automaker Volkswagen tumbled 3.4 percent after it cut 2023 deliveries outlook.

Peer Mercedes-Benz Group after lifting its full-year guidance.

Wind turbine manufacturer Nordex Group fell 2.6 percent after net loss grew in the first six months of the year.

Aixtron soared nearly 13 percent after the semiconductor-equipment company raised its outlook for 2023 revenue and orders in light of strong demand.

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Euro Retreats Against Majors

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Ryanair FY25 Profit Down, But Stock Climbs On Revenue And Traffic Growth, Positive Outlook

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The Conference Board released a report on Monday showing its reading on leading U.S. economic indicators slumped by more than expected in the month of April. The report said the leading economic index tumbled by 1.0 percent in April after sliding by a downwardly revised 0.8 percent in March.
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Eurozone economic growth outlook was downgraded substantially for 2025 due to the impact of higher trade tariffs and elevated uncertainty and disinflation would proceed more swiftly than anticipated with headline inflation set to hit the 2 percent target by the middle of this year, the European Commission said Monday.
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Dollar Index Extends Gains On Trade Deal Optimism

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Rising optimism surrounding trade deals between the U.S. and its trading partners, and in particular the significant easing in trade tensions between the U.S. and China bolstered the U.S. dollar during the week ended May 16.
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