DAX Recovers After Early Setback

RTTNews | 105 dias atrás
DAX Recovers After Early Setback

(RTTNews) - German stocks are recovering from an early setback Tuesday morning with select counters attracting some strong buying interest. The early weakness was due to data showing a contraction in the nation's GDP, and concerns about the potential impact of the Trump administration's tariff moves and U.S. - China tensions on global economic growth.

Investors are also focusing the political developments in the country as the Christian Democratic Union (CDU), led by Friedrich Merz, looks to form a coalition governement.

The benchmark DAX, which opened at 22,279.01 and dropped to 22,255.57 subsequently, recovered well and was up 19.96 points or 0.09% at 22,441.32 a little while ago.

Rheinmetall is rising 3.6% on reports Germany's chancellor-in-waiting Friedrich Merz has opened talks with the Social Democrats to quickly approve as much as €200 billion ($210 billion) in special defense spending.

Thyssenkrupp AG is soaring nearly 13% after reports that it will hold an extraordinary general meeting to conclude a spin-off of a minority stake in its warship division this calendar year.

Freseniuis Medical Care is gaining 1.3% on stronger than expected earnings update.

Deutsche Bank is up 1.4% and RWE is advancing 1.3%, while Vonovia, Bayer and Commerzbank are up 1.1%, 1% and 0.8%, respectively. HeidelbergCement is up nearly 1%

MTU Aero, Deutsche Telekom, Fresenius and Siemens Healthineers are up with modest gains.

Infineon is declining nearly 2%. Siemens Energy is down 1.7%, and Henkel is down 1.3%. Brenntag, Beiersdorf, Continental, Deutsche Post, Volkswagen, Daimler Truck Holding and Symrise are moderately lower.

Data from Destatis showed Germany's gross domestic product declined 0.2% in the fourth-quarter from a quarter ago, reversing a 0.1% sequential growth in the third quarter.

On a yearly basis, GDP dropped by calendar-adjusted 0.2%, as estimated, after falling 0.3% a quarter ago.

Price-adjusted GDP was down 0.4% year-on-year in the fourth quarter, in contrast to the 0.1% growth logged each in the preceding two quarters.

Exports of goods and services were down 2.2% sequentially, while imports of goods and services grew 0.5%.

Final consumption expenditure registered a quarterly increase of 0.2%, with the 0.4% rise in government spending outpacing household final consumption expenditure growth of 0.1%.

For the whole year of 2024, the statistical office confirmed the year-on-year decline of 0.2%.

read more
UK Jobless Rate Rises; Wage Growth Softens

UK Jobless Rate Rises; Wage Growth Softens

The UK unemployment rate rose slightly in the three months to April period and wage growth softened as the rise in social security contribution and the minimum wage started to weigh on the labor market activity. The ILO jobless rate rose to 4.6 percent in the three months to April, as expected, from 4.5 percent in the three months to March, data from the Office for National Statistics revealed T
RTTNews | 16 minutos atrás
Asian Shares Rise As US-China Talks Gather Momentum

Asian Shares Rise As US-China Talks Gather Momentum

Asian stocks advanced on Tuesday ahead of a second day of talks in London between China and the U.S. to resolve tariff disputes and strengthen economic relations. U.S. officials expressed optimism after the first day of negotiations, boosting investor sentiment.
RTTNews | 1 h 10 min atrás
Pound Slides On Weak U.K. Employment Data

Pound Slides On Weak U.K. Employment Data

The British pound weakened against other major currencies in the early European session on Tuesday, after the U.K. unemployment rate rose slightly in the three months to April period.
RTTNews | 2 h 6 min atrás
Pound Slides Against Majors

Pound Slides Against Majors

The British pound weakened against other major currencies in the early European session on Tuesday.
RTTNews | 2 h 27 min atrás
Australia NAB Business Conditions Ease; Confidence Improves

Australia NAB Business Conditions Ease; Confidence Improves

Australian business conditions eased in May amid ongoing profitability pressures and soft demand, while business confidence improved from the last month, survey data from NAB showed on Tuesday. A monthly survey conducted by Westpac showed that consumer confidence rose moderately in June, underpinned by interest rate cut and softening inflation.
RTTNews | 4 h 19 min atrás