DAX Recovers After Early Setback

RTTNews | 107 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
Canadian Market Up Slightly In Cautious Trade

Canadian Market Up Slightly In Cautious Trade

After a flat start and a subsequent drop, the Canadian market moved into positive territory Thursday morning, led by gains in materials and communications sectors. The mood remains cautious amid uncertainty about U.S.-China trade deal and easing prospects of he European Union arriving at a pact with the U.S. before the July 8 deadline. Middle East tensions also weigh on sentiment.
RTTNews | 1 h 29 min atrás
U.S. Producer Prices Inch Up 0.1% In May, Less Than Expected

U.S. Producer Prices Inch Up 0.1% In May, Less Than Expected

After reporting an unexpected decrease by U.S. producer prices in the previous month, the Labor Department released a report Thursday showing producer prices crept slightly higher in the month of May. The Labor Department said its producer price index for final demand inched up by 0.1 percent after slipping by a revised 0.2 percent in April.
RTTNews | 4 h 17 min atrás
U.S. Weekly Jobless Claims Unexpectedly Unchanged At Eight-Month High

U.S. Weekly Jobless Claims Unexpectedly Unchanged At Eight-Month High

The Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits came in flat in the week ended June 7th. The report said initial jobless claims in at 248,000, unchanged from the previous week's revised level. Economists had expected jobless claims to dip to 240,000 from the 247,000 originally reported for the previous week.
RTTNews | 4 h 20 min atrás
Bay Street Likely To Open On Negative Note

Bay Street Likely To Open On Negative Note

Canadian shares are likely to open with a negative bias on Thursday as trade concerns, and Middle East tensions may weigh on sentiment. A lack of specifics in the framework agreed to by U.S. and Chinese officials on Tuesday has raised uncertainty about the two nations reaching an agreement anytime soon.
RTTNews | 5 h 3 min atrás
U.S. Producer Prices Inch Up Less Than Expected In May

U.S. Producer Prices Inch Up Less Than Expected In May

After reporting an unexpected decrease by U.S. producer prices in the previous month, the Labor Department released a report Thursday showing producer prices crept slightly higher in the month of May.
RTTNews | 5 h 29 min atrás
Boeing Shares Hit After 787-8 Dreamliner With 242 Onboard Crashes In India

Boeing Shares Hit After 787-8 Dreamliner With 242 Onboard Crashes In India

Boeing Co. shares are currently down around 8 percent in the pre-market activity on the NYSE after an Air India aircraft headed to London with 242 people onboard crashed immediately after take-off in the Indian city of Ahmedabad. The plane, a Boeing 787-8 Dreamliner headed to Gatwick Airport in the UK, crashed in a civilian area near the Sardar Vallabhbhai Patel International Airport.
RTTNews | 5 h 48 min atrás
FTSE 100 Recovers After Weak Start, Up Marginally

FTSE 100 Recovers After Weak Start, Up Marginally

After opening on a negative note amid trade tensions and data showing a contraction in the nation's GDP growth in April, U.K. stocks recovered some lost ground on Thursday. Still, amid uncertainty about China and the U.S. agreeing on a concrete trade deal anytime soon, and lingering concerns about the European Union finalizing a trade deal before the July 8 deadline, the mood in the market remain
RTTNews | 5 h 59 min atrás