Major European Markets Close On Firm Note

RTTNews | 819 дней спустя

(RTTNews) - The major European markets closed higher on Thursday, as data showing a drop in eurozone inflation lifted investor sentiment and helped trim early losses.

Data showed eurozone inflation eased slightly to 8.5% in February, the slowest since May 2022, and down from 8.6% in the previous month.

Meanwhile, core inflation that excludes energy, food, alcohol and tobacco, accelerated to 5.6% from 5.3%. Core inflation was expected to remain unchanged at 5.3%.

Meanwhile, ECB President Christine Lagarde said that rates will have to rise higher and stay higher for some time to combat inflation.

The pan European Stoxx 600 climbed 0.51%. The U.K.'s FTSE 100 gained 0.37%, Germany's DAX advanced 0.15%, and France's CAC surged 0.69%, while Switzerland's SMI gained nearly 1%.

Among other markets in Europe, Austria, Denmark, Ireland, Netherlands, Norway and Portugal ended higher.

Belgium, Czech Republic, Finland, Greece, Iceland, Poland, Russia and Turkiye closed weak. Spain and Sweden ended flat.

In the UK market, CRH soared more than 8% after reporting a jump in 2022 profit and unveiling share buyback plans.

Croda International gained about 2.25%, while BP, Coca-Cola, BAE Systems, Diageo and Shell gained 1.5 to 2%.

Beazley dropped more than 5%. Haleon, Schrodders, Persimmon, HSBC Holdings and Barratt Developments lost 3 to 4%. Prudential, IAG, Hargreaves Lansdown, Barclays, Fresnillo and Lloyds Banking Group also ended notably lower.

In Paris, Eurofins Scientific surged more than 5.5%. Pernod Ricard, TotalEnergies, Kering, L'Oreal, LVMH, ArcelorMittal, Engie and Hermes International gained 1 to 2.2%.

STMicroElectronics ended more than 3% down. Unibail Rodamco drifted down by about 1%. Credit Agricole, Michelin and Societe Generale posted moderate losses.

In the German market, E.ON, Adidas, Beiersdorf, Merck and Symrise gained 1 to 1.6%.

Covestro tumbled nearly 6%. Deutsche Bank, Zalando, Commerzbank, Infineon Technologies, Siemens Energy and Fresenius lost 0.6 to 1.4%.

U.S. Economic Shrinks Slightly Less Than Previously Estimated In Q1

A report released by the Commerce Department on Thursday showed the U.S. economy shrank by slightly less than previously estimated in the first quarter of 2025. The Commerce Department said real gross domestic product edged down by a revised 0.2 percent in the first quarter compared to the previously reported 0.3 percent dip. Economists had expected the modest decrease to be unrevised.

RTTNews | 3ч 58мин назад

U.S. Weekly Jobless Claims Climb More Than Expected To 240,000

First-time claims for U.S. unemployment benefits rose by more than expected in the week ended May 24th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims climbed to 240,000, an increase of 14,000 from the previous week's revised level of 226,000. Economists had expected jobless claims to inch up to 230,000.

RTTNews | 4ч 1мин назад

Hormel Foods Recalls 256K Pounds Of Canned Beef Stew Product

Hormel Foods Corp. is recalling around 256,185 pounds of canned beef stew product that may be contaminated with foreign material, specifically wood, according to the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS. The Tucker, Georgia-based branded food major's recall involves 20-oz. metal cans containing "Dinty Moore BEEF STEW" with "BEST BY FEB 2028".

RTTNews | 4ч 35мин назад

UK Vehicle Manufacturing Logs Weakest Start To Year Since 2009: SMMT

UK automotive manufacturing registered its weakest start to a year since 2009, the Society of Motor Manufacturers & Traders, or SMMT, said Thursday. Car and commercial vehicle production decreased 15.8 percent on a yearly basis to 59,203 units in April. Auto production fell to the lowest level for the month since 1952, excluding 2020 when the first Covid lockdown effectively saw manufacturing c

RTTNews | 5ч 3мин назад

Bay Street Looks Set To Start On Firm Note

Canadian shares look headed for a firm start on Thursday, with encouraging earnings by Royal Bank of Canada and Canadian Imperial Bank of Commerce, and a U.S. court ruling against U.S. President Donald Trump's sweeping tariff moves set to lift sentiment.

RTTNews | 5ч 17мин назад