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DAX Rises As Fed Hike Bets Ease
(RTTNews) - German stocks advanced on Friday after U.S. producer price gains slowed in July, adding to expectations the Federal Reserve will slow the pace of rate hikes going forward.
The benchmark DAX climbed 83 points, or 0.6 percent, to 13,777 after closing marginally lower in the previous session.
Shopping center investor Deutsche EuroShop slumped 5.6 percent after reporting flat revenue for the first half of 2022.
Freenet, a telecommunications and web content provider, added 1.6 percent after lifting its FY EBITDA outlook.
Knorr-Bremse gave up 2.8 percent. The manufacturer of braking systems for rail and commercial vehicles reported that its operating EBIT for the first half of 2022 declined to 365 million euros from the prior year's 495 million euros.
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German Inflation Accelerates To 2.2% In August
Consumer price inflation in Germany climbed in August to its highest level in five months, while the core figure was steady amid an acceleration in food price growth, and weakened chances for further easing from the European Central Bank in the near term.
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1ч 18мин назад
Canadian Market Up In Positive Territory; BRP Rises Sharply On Strong Earnings
Despite weak GDP data, the Canadian market is up firmly in positive territory Friday afternoon with stocks from materials and healthcare sectors contributing significantly to the gains.
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3ч 32мин назад
Swiss Market Ends Modestly Lower
Save for a very brief while early on in the session, and for less than an hour a little past mid afternoon, the Switzerland market stayed in negative territory on Friday with investors largely staying cautious due to a lack of positive triggers.
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4ч 8мин назад
European Stocks Close Lower On Geopolitical Tensions
European stocks closed lower on Friday, weighed down by geopolitical concerns due to rising clashes in Gaza and Ukraine, and political uncertainty in France. Investors also digested the latest batch of economic data, including the closely watched U.S. personal consumption expenditure report.
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4ч 37мин назад
U.S. Consumer Sentiment Deteriorates Slightly More Than Initially Estimated In August
The University of Michigan released a report on Friday showing consumer sentiment in the U.S. deteriorated by slightly more than previously estimated in the month of August. The report said the consumer sentiment index for August was downwardly revised to 58.2 from the preliminary reading of 58.6.
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7ч 21мин назад
Chicago Business Barometer Slumps Much More Than Expected In August
MNI Indicators released a report on Friday showing a sharp pullback by its reading on Chicago-area business activity in the month of August. The report said the Chicago business barometer tumbled to 41.5 in August after jumping to 47.1 in July, with a reading below 50 indicating contraction. Economists had expected the business barometer to edge down to 46.0.
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7ч 40мин назад
U.S. Consumer Prices Increase In Line With Estimates In July
Consumer prices in the U.S. increased in line with economist estimates in the month of July, according to closely watched data released by the Commerce Department on Friday. The Commerce Department said its personal consumption expenditures (PCE) price index rose by 0.2 percent in July after climbing 0.3 percent in June. The uptick matched expectations.
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8ч 23мин назад
German Unemployment Exceeds 3 Mln
Germany's unemployment exceeded the three million-mark for the first time in a decade in August as the prolonged period of subdued economic activity weighed on the labor market. The number of unemployed persons increased by 46,000 from the previous year to 3.025 million in August. However, unemployment fell by adjusted 9,000 compared to the previous month, while it was forecast to increase by 1
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8ч 53мин назад
