DAX Rallies Amid Rate Cut Bets

RTTNews | Pred 518 dňami
DAX Rallies Amid Rate Cut Bets

(RTTNews) - German stocks rallied on Friday, a day after the European Central Bank opened the door to a rate cut in June.

Meanwhile, German consumer price inflation eased to the lowest level in nearly three years, as initially estimated in March amid lower costs for food and energy, final data from Destatis revealed earlier today. Consumer price inflation slowed to 2.2 percent in March from 2.5 percent in February. That was in line with the flash data published earlier.

Moreover, the latest inflation was the weakest since May 2021, when prices had risen the same 2.2 percent.

Inflation, based on the harmonized index of consumer prices, or HICP, slowed to 2.3 percent from 2.7 percent.

The benchmark DAX jumped 204 points, or 1.1 percent, to 18,158 after falling 0.8 percent in the previous session.

Shares of ThyssenKrupp AG surged nearly 4 percent. The industrial engineering and steel company late Thursday announced its loss-making Steel division's structural realignment, including a significant cut in Duisburg's production capacity, as well as jobs that are yet to be quantified.

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European Markets Close Mostly Flat

European Markets Close Mostly Flat

The major European markets closed roughly flat on Friday as the mood turned cautious with investors awaiting Fitch's review of France's sovereign rating. Shares from automobile, banking and healthcare sectors were among the laggards, while mining stocks found fairly good support.
RTTNews | Pred 35 minútami
Canadian Market Drifts Lower On Profit Taking

Canadian Market Drifts Lower On Profit Taking

Despite rising odds of interest rate cuts by the Bank of Canada and the Federal Reserve next week, the Canadian market is down in negative territory on Friday, taking a breather after consistently hitting record highs over the past several sessions.
RTTNews | Pred 1 h 29 min
U.S. Consumer Sentiment Deteriorates Much More Than Expected In September

U.S. Consumer Sentiment Deteriorates Much More Than Expected In September

Preliminary data released by the University of Michigan on Friday showed consumer sentiment in the U.S. has deteriorated by much more than anticipated in the month of September. The University of Michigan said its consumer sentiment index fell to 55.4 in September from 58.2 in August. Economists had expected the index to edge down to 58.0.
RTTNews | Pred 3 h 10 min
UK Economy Flatlines In July

UK Economy Flatlines In July

The UK economy stagnated in July, posing further challenges to Chancellor Rachel Reeves as any tax hikes or spending cuts would again dampens activity. Real gross domestic product showed no growth in July, as expected, after rising 0.4 percent in June, the Office for National Statistics reported Friday.
RTTNews | Pred 4 h 43 min
Bay Street Likely To Open On Mixed Note

Bay Street Likely To Open On Mixed Note

Canadian shares may open on a mixed note Friday morning as investors are likely to take some profits after recent gains. Firm gold and oil prices may push up resources stocks.
RTTNews | Pred 5 h 22 min
Russia Central Bank Cuts Rate By 100 Bps

Russia Central Bank Cuts Rate By 100 Bps

Russia's central bank slashed its benchmark interest rate for the third time this year as higher lending rates weigh on business activity and damp economic recovery. The Board of Directors of Bank of Russia, governed by Elvira Nabiullina, decided to cut the key interest rate by 100 basis points to 17.00 percent from 18.00 percent.
RTTNews | Pred 5 h 35 min
Yen Falls Against Majors

Yen Falls Against Majors

The Japanese yen weakened against other major currencies in the European session on Friday.
RTTNews | Pred 5 h 54 min
FTSE 100 Modestly Higher As Miners Rise

FTSE 100 Modestly Higher As Miners Rise

The UK market is up in positive territory a little past noon on Friday, supported by solid gains in the mining sector thanks to higher metal prices. Investors are also digesting the data showing the UK economy stagnated in July as expansions in services and construction sectors were offset by the decline in industrial production.
RTTNews | Pred 6 h 35 min