DAX Rises 1.5% As Stocks Move Higher On Ukraine Ceasefire Hopes

RTTNews | 169 dias atrás

(RTTNews) - After three successive days of declines, German stocks are up in positive territory Wednesday morning with investors reacting to news that Ukraine has signaled its readiness to accept a U.S. proposal for an "immediate, interim 30-day ceasefire" with Russia.

"A while ago, Ukraine has agreed to the ceasefire. Now we go to Russia and hopefully President Putin will agree to it also," U.S. President Trump said soon after the Jeddah announcement.

On the tariff fron, Russia and the European Union have announced retaliatory tariffs on U.S. imports of steel and aluminum.

The benchmark DAX was up 334.34 points or 1.5% at 22,651.20 a little while ago.

Siemens Energy is climbing up 5.3% and Rheinmetall is rising nearly 5%. Heidelberg Materials is up 3.5%, while Siemens, Commerzbank, MTU Aero Engines, Muench. Rueckvers, Hannover Rueck, Deutsche Bank and Allianz are up 2 to 3%.

Fresenius, RWE, BASF, Deutsche Post, Fresenius Medical Care, Deutsche Boerse and SAP are also noably higher.

Shares of sportswear maker PUMA SE are down 22.7% as the group gave a cautious outlook for the 2025 fiscal year, citing global trade tariffs and currency volatility.

Looking ahead, for fiscal 2025, the company projects adjusted EBIT excluding one-time costs in a range between 520 million euros and 600 million euros. Currency-adjusted sales growth is projected at low- to mid-single digit percentage rate.

In fiscal 2024, EBIT was 622 million euros with an EBIT margin of 7.1%, and currency-adjusted sales growth was 4.4%.

Porsche is down 3.7% after slashing profit targets for fiscal 2025. The company reported weak operating profit in fiscal 2024 amid lower sales and deliveries. The lower results were mainly due to the continuing market challenges in China.

In fiscal 2024, operating profit was 5.64 billion euros, down 22.6% from last year's 7.28 billion euros. Operating return on sales was 14.1%, lower than prior year's 18.0%.

Henkel and Zalando are down 1.5% and 1.3%, respectively. Brenntag is down marginally. The chemical maker said that its profit attributable to shareholders for financial year 2024 declined to 536.2 million euros or 3.71 euros per share from 714.9 million euros or 4.73 euros per share in the prior year.

European Shares Seen Higher At Open

European stocks are seen opening broadly higher on Thursday even as Nvidia's disappointing sales forecast raised concerns about the AI spending boom.

RTTNews | 1 h 22 min atrás

Sensex Nifty Decline On Tariff Worries

Indian shares opened on a sluggish note on Thursday after U.S. President Donald Trump's 50 percent tariffs on Indian goods came into effect, impacting trade worth billions of dollars and risking Washington-New Delhi ties.

RTTNews | 2 h 15 min atrás

European Economic News Preview: Eurozone Economic Sentiment Data Due

Economic confidence and monetary aggregates from the euro area and flash GDP from Switzerland are the top economic news due on Thursday. At 3.00 am ET, the State Secretariat for Economic Affairs is slated to release Swiss GDP data for the second quarter. The economy is expected to grow 0.1 percent sequentially after rising 0.5 percent in the first quarter.

RTTNews | 2 h 16 min atrás

Australian Market Trims Early Losses In Mid-market

The Australian market is trimming early losses in mid-market moves on Thursday, giving up some of the gains in the previous session, despite the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling to near the 8,950 level, with weakness in iron ore miners, energy and technology stocks partially offset by gains in financial stocks.

RTTNews | 3 h 42 min atrás

Asian Markets Trade Mostly Higher

Asian stock markets are mostly higher on Thursday, following the broadly positive cues from Wall Street overnight, as traders remain optimistic the US Fed will cut interest rates at their next meeting in September. They also remain cautious ahead of the release of key US economic data later in the week, including second quarter GDP and the Fed's preferred readings on consumer price inflation.

RTTNews | 3 h 57 min atrás

Sensex, Nifty Set To Open Lower As New U.S. Tariffs Take Effect

Indian shares may open on a weak note on Thursday after U.S. President Donald Trump's 50 percent tariffs on Indian goods came into effect on Wednesday.

RTTNews | 4 h 27 min atrás

Swiss Market Settles Modestly Higher

The Switzerland market closed modestly higher on Wednesday after staying firm right through the day's session, thanks to fairly strong buying at several counters. The benchmark SMI closed up by 46.23 points or 0.38% at 12,207.12. The index moved between 12,166.23 and 12,226.36 during the session.

RTTNews | 4 h 39 min atrás

Japanese Market Notably Higher

The Japanese market is trading notably higher on Thursday after opening in the red, extending the gains in the previous session, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving well above the 42,650 level, with gains in index heavyweights, automakers and financial stocks.

RTTNews | 4 h 47 min atrás

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