European Shares Edge Higher With Focus On Upcoming Powell Speech

RTTNews | 655 dias atrás

(RTTNews) - European stocks traded higher on Friday after the release of some encouraging regional data.

Destatis reported that the German economy stabilized in spring after slight declines in the previous two quarters.

Gross domestic product posted nil growth in the second quarter after a 0.1 percent fall in the first quarter and a 0.4 percent decline in the fourth quarter of 2022.

With the latest flat growth, the biggest euro area economy ended a short period of recession.

Elsewhere, a survey revealed Britons are now less downbeat about the outlook for their personal finances.

The GfK consumer sentiment indicator rose to -25 in August from a three-month low of -30 in July, marking its biggest rise since April.

The pan European STOXX 600 was up 0.3 percent at 452.74 after declining 0.4 percent on Thursday.

The German DAX edged up 0.2 percent, France's CAC 40 added half a percent and the U.K.'s FTSE 100 gained 0.3 percent.

The euro fell to its lowest level since mid-June on expectations that the European Central Bank could soon pause rate hikes to support weakening growth.

Euro zone bond yields edged up after longer-dated U.S. Treasury yields soared to a 16-year high.

Higher metal prices helped lift miners, with Anglo American and Antofagasta climbing 1-2 percent.

Oil & gas giant BP Plc rose over 1 percent and Shell added 0.8 percent as crude prices advanced ahead of Fed Chair Jerome Powell's upcoming speech in Jackson Hole.

CMC Markets, a provider of online retail and institutional platform technology, plunged more than 10 percent after the company said that it sees lower net revenue trends for the fiscal 2024, on continued subdued market conditions.

Swedish telecom gear maker Ericsson was marginally lower after an announcement that it has renewed a multi-year global patent cross-licensing deal with Chinese electronic company, Huawei Technologies Co., Ltd.

Gold Dips As US-China Trade Talks Continue

Gold prices dipped on Tuesday, ahead of US inflation report and ongoing US-China official talks, which is now the focus of investors from all over the world. Front Month Comex Gold for June delivery lost $11.20 (or 0.34%) to $3320.90 per troy ounce on Tuesday. Front Month Comex Silver for June delivery lost $14.60 cents (or 0.40%) to $36.542 today. The much-anticipated high-level trade talks between the world's two largest economies, U.S. and China, began on Monday in London and continued for the second day today. On the economic data front, the US Labor Department will release Consumer Price Index (CPI) data on Wednesday, which may help to determine the Federal Reserve's monetary policy before the Fed's June 17-18 meeting. Meanwhile, the World Bank, in its biannual Global Economic Prospects, has cut the global growth forecast to 2.3% from 2.7% for the current year citing "trade barriers" as a reason behind the global slowdown.

RTTNews | 1 h 36 min atrás

Crude Oil Prices Fade As US-China Talks Progress

Crude oil prices were down on Tuesday amidst uncertainty over trade talks between China and the United States continued, although the outcome remains uncertain. WTI oil closed down by $0.31 to settle at $64.98 per barrel. August Brent crude was last seen down by $0.03 to $67.01. To ease the standstill created by the reciprocal tariffs imposed by U.S. President Donald Trump and China, high-level officials from both nations convened at London on Monday to discuss steps to soften the conflict. As the talks went on for the second day today, Trump told reporters at the White House that the talks were "going well" and that he was "only getting good reports." While U.S. Treasury Secretary Scott Bessent described Monday's talks as "good meeting," the Commerce Secretary Howard Lutnick called them as "fruitful." On the geopolitical front, however, Russia showed no sign of relenting on its war with Ukraine and continued its attacks. Limiting the downside, the U.S. Energy Information Administration has reported today that US crude oil production is likely to decline over the next 18 months - while the approach of the summer driving season is also good news.

RTTNews | 1 h 42 min atrás

Canadian Dollar Appreciates Amid Risk Appetite

The Canadian dollar climbed against its major counterparts in the New York session on Tuesday, as investors monitored trade talks between the U.S. and China that continued for a second day.

RTTNews | 2 h 22 min atrás

Swiss Market Ends Marginally Down

Save for a very brief while at the start, the Switzerland market stayed weak on Tuesday as investors refrained from making significant moves, choosing to wait for directional clues. Investors awaited the outcome of the high-level trade discussions between U.S. and Chinese officials in London.

RTTNews | 3 h 47 min atrás

European Stocks Close On Mixed Note

European stocks turned in a mixed performance on Tuesday with investors mostly making cautious moves as they awaited the outcome of the ongoing Sino-U.S. trade talks in London. German stocks are drifting lower on Tuesday as investors await the outcome of high-level U.S. - China trade talks in London.

RTTNews | 4 h 3 min atrás

TSX Up Marginally; Energy Stocks Rise

After a flat start and a subsequent climb up north, the Canadian market retreated Tuesday morning, and at a little past noon, was up marginally, led by gains in energy, consumer and communications sectors. Investors are cautiously optimistic about some positive progress in U.S.-China trade relations.

RTTNews | 5 h 10 min atrás

U.S. Stocks Mostly Subdued In Lackluster Trade

U.S. stocks are turning in a mixed performance in lackluster trade on Tuesday as traders await the outcome of the ongoing trade talks between China and the U.S. in London. Trade negotiations between the world's two largest economies commenced on Monday, and no big breakthrough seems to have been arrived as yet.

RTTNews | 5 h 47 min atrás

Eurozone Investor Confidence Strongest In A Year: Sentix

Euro area investor morale rose to the highest level in a year in June, driven by the economic recovery in Germany, survey data from the behavioral research institute Sentix showed Tuesday. The investor sentiment index rose to +0.2 in June from -8.1 in May. This was the highest reading since June 2024 and remained well above economists' forecast of -6.0.

RTTNews | 8 h 41 min atrás

EURUSD	1.14225	GBPUSD	1.3495	AUDUSD	0.65228
USDJPY	144.845	USDCAD	1.36701	USDCHF	0.82218

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European Shares Edge Higher With Focus On Upcoming Powell Speech