European Shares Tumble On Tariff Jitters

RTTNews | 146 dias atrás
European Shares Tumble On Tariff Jitters

(RTTNews) - European stocks fell sharply on Thursday as investors fretted about the potential repercussions of the new tariffs announced by U.S. President Donald Trump.

There is apprehension that the new levies could fuel inflationary pressures, cause disruptions in global supply chains and lead to trade wars.

In economic releases, HCOB's final composite Purchasing Managers' Index for the euro zone, compiled by S&P Global, rose to 50.9 in March from 50.2 the previous month.

The U.K. Services Purchasing Managers' Index (PMI) rose to its highest since August 2024 at 52.5 from 51.0 in February.

The pan European STOXX 600 was down 1.3 percent at 529.97 after falling half a percent in the previous session.

The German DAX tumbled 1.4 percent, France's CAC 40 plummeted 1.8 percent and the U.K.'s FTSE 100 lost 1 percent.

Banks led losses, with BNP Paribas, Commerzbank and Deutsche Bank falling 3-5 percent.

Automakers pared steep early losses to trade on a flat note.

Healthcare stocks clung to marginal gains as the Trump administration exempted pharmaceuticals from reciprocal tariffs.

German sportswear retailer Adidas plunged more than 10 percent and shipping giant Maersk tumbled 7 percent.

China-linked luxury goods makers faced selling pressure in Paris, with LVMH down nearly 4 percent.

read more
Australian Dollar Rises On Strong Monthly CPI Data

Australian Dollar Rises On Strong Monthly CPI Data

The Australian dollar strengthened against other major currencies in the Asian session on Wednesday, following the release of Australia's consumer price inflation accelerating more than expected to a one-year high in July.
RTTNews | 46 minutos atrás
Australia Inflation Accelerates To 1-Year High

Australia Inflation Accelerates To 1-Year High

Australia's consumer price inflation accelerated more than expected to a one-year high in July, indicating a more gradual approach to monetary policy easing. The CPI indicator advanced 2.8 percent year-on-year in July, following June's 1.9 percent rise, the Australian Bureau of Statistics reported. This was the strongest since July 2024.
RTTNews | 2 h 26 min atrás
European Economic News Preview: German GfK Consumer Confidence Due

European Economic News Preview: German GfK Consumer Confidence Due

Consumer sentiment survey data from Germany is the top economic news due on Wednesday, headlining a light day for the European economic news. At 2.00 am ET, the market research group GfK publishes Germany's monthly consumer confidence survey results. The consumer sentiment indicator is forecast to fall to -22 in September from -21.5 in August.
RTTNews | 3 h 1 min atrás
Australian Market Extends Early Gains In Mid-market

Australian Market Extends Early Gains In Mid-market

The Australian stock market is extending it early gains in mid-market moves on Wednesday, recouping the losses in the previous session, with the benchmark S&P/ASX 200 moving above the 8,950 level, following the broadly positive cues from Wall Street overnight, with gains across most sectors led by mining and financial stocks.
RTTNews | 3 h 50 min atrás
Asian Markets Mixed In Cautious Trades

Asian Markets Mixed In Cautious Trades

Asian stock markets are trading mixed on Wednesday, following the broadly positive cues from Wall Street overnight, as traders remain cautious and seem reluctant to make significant moves ahead of the release of key US economic data later in the week, including second quarter GDP and the US Fed's preferred readings on consumer price inflation, which could impact the outlook for interest rates.
RTTNews | 3 h 54 min atrás
Mild Upside Seen For Thai Stock Market

Mild Upside Seen For Thai Stock Market

The Thai stock market on Tuesday ended the two-day winnings streak in which it had picked up almost 20 points or 1.6 percent. The Stock Exchange of Thailand now sits just above the 1,250-point plateau although it figures to move back to the upside again on Wednesday.
RTTNews | 5 h 20 min atrás
Japanese Market Slightly Lower

Japanese Market Slightly Lower

The Japanese stock market is slightly lower in choppy trading on Wednesday, extending the losses in the previous session, despite the broadly positive cues from Wall Street overnight. The Nikkei 225 is staying below the 42,400 level, with a mixed performance across all sectors.
RTTNews | 5 h 39 min atrás