European Shares Decline On Downbeat Earnings; ECB Decision Eyed

RTTNews | Pred 580 dňami
European Shares Decline On Downbeat Earnings; ECB Decision Eyed

(RTTNews) - European stocks fell on Thursday as downbeat earnings from the likes of WPP, Unilever, Mercedes Benz and BNP Paribas added to concerns around elevated bond yields and the Middle East tensions.

Investors also await the ECB rate decision and President Christine Lagarde' press conference for clarity on the outlook for rates.

The central bank is expected to keep its key interest rate unchanged at a record 4 percent high against the backdrop of cooling inflation and faltering growth.

The pan-European STOXX 600 was down 0.9 percent at 431.18 after ending little changed with a positive bias on Wednesday.

The German DAX gave up 1.4 percent, France's CAC 40 fell about 1 percent and the U.K.'s FTSE 100 was down 0.6 percent.

German luxury carmaker Mercedes-Benz slumped 5.3 percent after saying it expects pressure on car sales margins. Peer BMW tumbled 2.8 percent and Renault declined 2.5 percent.

Chip systems manufacturer Aixtron rose about 1 percent after reporting a significant increase in third-quarter net profit and revenue.

Meal-kit maker HelloFresh plummeted almost 12 percent after reporting revenue below expectations for the third quarter.

French lender BNP Paribas fell 3.8 percent after posting a fall in third-quarter net profit on higher expenses.

Food group Danone rose 2 percent after lifting its 2023 revenue growth forecast.

Sodexo jumped 6.3 percent. The catering and food services group said it plans to list its voucher and benefits division Pluxee early in 2024.

Carrefour, Europe's largest food retailer, surged 4 percent after reporting higher third-quarter sales and backing its full-year targets.

Energy stocks such as BP Plc and Shell were moving lower as crude prices declined amid diplomatic efforts to prevent the Israel-Gaza conflict from spreading.

British lender Standard Chartered plunged 11 percent after reporting a sharp drop in quarterly profit, partly due to $900mn of China-linked charges.

Precision instruments manufacturer Renishaw fell about 1 percent after a profit warning.

Consumer goods giant Unilever tumbled 3 percent after its new CEO laid out plans to simplify business.

Advertising giant WPP lost over 3 percent after cutting its outlook for the second time in as many quarters.

read more
U.S. Dollar Rises As Traders Await FOMC Minutes

U.S. Dollar Rises As Traders Await FOMC Minutes

The U.S. dollar strengthened against other major currencies in the Asian session on Wednesday, as traders await the minutes from May's FOMC meeting due later in the day.
RTTNews | Pred 57 minútami
NZ Dollar Rises After RBNZ Rate Decision

NZ Dollar Rises After RBNZ Rate Decision

The New Zealand dollar recovered from recent lows against other major currencies in the Asian session on Wednesday, after the Reserve Bank of New Zealand reduced its benchmark rate by a quarter-point, as widely expected.
RTTNews | Pred 1 h 59 min
European Economic News Preview: Germany Unemployment Data Due

European Economic News Preview: Germany Unemployment Data Due

Unemployment from Germany and revised GDP and consumer spending from France are due on Wednesday, headlining a light day for the European economic news. At 2.00 am ET, Destatis is scheduled to issue Germany's import prices for April. Import prices are forecast to fall 1.4 percent month-on-month, faster than the 1.0 percent decrease in March.
RTTNews | Pred 2 h 45 min
European Shares Seen Flat To Lower At Open

European Shares Seen Flat To Lower At Open

European stocks are seen opening flat to slightly lower on Wednesday, with Nvidia earnings and minutes from May's FOMC meeting likely to be in focus.
RTTNews | Pred 2 h 56 min
New Zealand Cuts Interest Rate By 25 Bps As Expected

New Zealand Cuts Interest Rate By 25 Bps As Expected

The Reserve Bank of New Zealand reduced its benchmark rate by a quarter-point, as widely expected on Wednesday, as higher trade tariffs and increased policy uncertainties overseas are set to weigh on domestic economic outlook. The Monetary Policy Committee, led by acting governor Christian Hawkesby, decided to cut the Official Cash Rate by 25 basis points to 3.25 percent. The decision was passed
RTTNews | Pred 3 h 18 min
NZ Dollar Recovers Against Majors

NZ Dollar Recovers Against Majors

The New Zealand dollar recovered from recent lows against other major currencies in the Asian session on Wednesday.
RTTNews | Pred 3 h 48 min