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DAX Tumbles As Banks Drag On Contagion Fears
(RTTNews) - German stocks plunged on Friday, as banks suffered heavy losses on concerns over the collapse of pro-crypto Silvergate bank coupled with the hawkish stance taken by the U.S. Federal Reserve.
Investors waited for the release of monthly U.S. jobs report later in the day that could reinforce expectations of a bigger rate hike later this month.
The benchmark DAX was down 263 points, or 1.7 percent, at 15,370 after ending flat with a positive bias the previous day.
Commerzbank shares plummeted 5 percent and Deutsche Bank lost about 8 percent after U.S. tech-industry lender SVB Financial Group launched a share sale to shore up its balance sheet due to declining deposits from startups struggling for funding.
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Canadian Dollar Falls Against Most Majors
The Canadian dollar dropped against its most major counterparts in the New York session on Friday.
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Canadian Market Modestly Higher; Technology Stocks Among Notable Gainers
The Canadian market is up in positive territory Friday afternoon with investors largely reacting to quarterly earnings announcements, and the nation's jobs data, in addition to weighing the impact of tariffs on global economic growth.
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2 dias atrás
Swiss Market Ends Marginally Up
The Switzerland market ended marginally up on Friday despite exhibiting weakness for much of the time past noon. Investors continued to react to earnings and assess the economic impact of reciprocal tariffs, and stayed largely cautious with their moves.
A report showing a drop in Swiss consumer confidence in the month of July hurt sentiment.
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Major European Markets Close On Mixed Note
Major European markets turned in a mixed performance on Friday with investors largely staying cautious, assessing the impact of tariffs on global economic growth, and continuing to digest corporate earnings announcements and other data.
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2 dias atrás
Positive Start Seen For Canadian Stocks
Canadian stocks may edge up a bit in early trades Friday morning with some encouraging earnings announcements and firm commodity prices aiding sentiment.
Investors will also be reacting to the data showing a 41,000 jobs drop in Canadian employment in the month of July. Data from Statistics Canada also showed that the unemployment rate in Canada came in unchanged at 6.9%.
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UK Market Roughly Flat; Mining Stocks Move Higher
Amid a lack of economic and earnings data, U.K. stocks are moving in a tight range in somewhat lackluster trade on Friday. Investors are assessing the potential impact of the Trump administration's reciprocal tariffs on global economic growth. Optimism about a rate cut by the Fed next month is aiding sentiment a bit.
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CAC 40 Climbs Higher For 3rd Straight Day
French stocks are modestly higher on Friday, extending gains to a third straight session, with mostly encouraging corporate earnings announcements aiding sentiment.
Concerns about the potential impact of Trump's reciprocal tariffs limit market's upside a bit.
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2 dias atrás
Sensex Plunges 765 Points On Tariff Worries; Nifty Ends Below 24,400
Indian shares fell sharply on Friday amid concerns that steep 50 percent U.S. tariffs on Indian goods may hut the country's manufacture push and slow economic growth.
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