European Shares Set For Soft Start As China Trade Data Disappoints

RTTNews | 255 dias atrás
European Shares Set For Soft Start As China Trade Data Disappoints

(RTTNews) - European stocks look set to open lower on Tuesday after data showed China's exports growth slowed in November and imports declined the most in 14 months, fueling worries about the health of the world's second-largest economy.

Exports rose 6.7 percent in U.S. dollar terms from a year ago, sharply lower than the 12.7 percent growth in the previous month while imports surprised with a decline of 3.9 percent.

Investors also await cues from upcoming U.S. CPI data for November and the ECB policy meeting.

Reports on U.S. consumer and producer price inflation are due to be released on Wednesday and Thursday, respectively, while economists expect the European Central Bank to cut interest rates by 25 bps for the third time in a row when it meets on Thursday.

Traders are also leaning towards rate cuts in Canada and Switzerland later this week.

The Federal Reserve's rate decision is due on Dec. 18, with analysts expecting a 25-bps cut. That said, there is some uncertainty about whether the U.S. central bank will continue cutting rates early next year.

According to Chicago Federal Reserve president Austan Goolsbee, the Fed may reach the neutral rate by the end of 2025.

Asian markets were mostly higher, a day after China's top leaders pledged to loosen monetary policy and provide more support for the slowing economy.

South Korean stocks rebounded from recent declines amid efforts by authorities to calm market jitters.

The U.S. dollar edged to the highest level this month against the yen as the conflict in Syria escalates.

The Australian dollar sank towards a four-month low after the central bank softened its tone on the policy outlook.

Gold ticked higher while oil prices declined after rising sharply in the previous session.

U.S. stocks ended lower overnight after climbing to record highs Friday. The Dow dipped half a percent while the tech-heavy Nasdaq Composite and the S&P 500 both shed around 0.6 percent as the Middle East conflict escalated and key inflation data loomed.

European stocks closed higher for an eighth straight session on Monday as investors weighed the prospect for bolder Chinese monetary and fiscal stimulus next year.

The pan European STOXX 600 edged up by 0.1 percent. France's CAC 40 climbed 0.7 percent and the U.K.'s FTSE 100 added half a percent while the German DAX slid 0.2 percent.

read more
Swiss Market Ends Weak

Swiss Market Ends Weak

The Switzerland market ended modestly lower on Thursday after languishing in negative territory right through the day's trading session, as the mood remained cautious with investors looking ahead to speeches from central bank chiefs at Federal Reserve's Jackson Hole Symposium.
RTTNews | 7 h 27 min atrás
European Stocks Close On Mixed Note Again

European Stocks Close On Mixed Note Again

European stocks turned in another mixed performance as investors stayed a bit cautious on Thursday, looking ahead to Federal Reserve's symposium at Jackson Hole, Wyoming, and largely shrugging off trade concerns. Investors also digested the latest batch of regional economic data, including flash estimates of manufacturing and services sector activity in the major economies.
RTTNews | 7 h 43 min atrás
Eurozone Consumer Confidence Weakens More Than Expected In August

Eurozone Consumer Confidence Weakens More Than Expected In August

Euro area consumer sentiment deteriorated more than expected in August to a four-month low, after a strong improvement in the previous month, preliminary results of the monthly survey by the European Commission revealed on Thursday.
RTTNews | 8 h 31 min atrás
U.S. Leading Economic Index Edges Down In Line With Estimates In July

U.S. Leading Economic Index Edges Down In Line With Estimates In July

A reading on leading U.S. economic indicators edged slightly lower in the month of July, according to a report released by the Conference Board on Thursday. The Conference Board said leading economic index slipped by 0.1 percent in July after falling by 0.3 percent in June. The modest decrease matched economist estimates.
RTTNews | 10 h 26 min atrás
U.S. Existing Home Sales Unexpectedly Rebound In July

U.S. Existing Home Sales Unexpectedly Rebound In July

The National Association of Realtors released a report on Thursday showing an unexpected rebound by existing home sales in the U.S. in the month of July. The report said existing home sales jumped by 2.0 percent to an annual rate of 4.01 million in July after tumbling by 2.7 percent to an annual rate of 3.93 million in June.
RTTNews | 10 h 36 min atrás