DAX Rallies As Banks Rebound

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DAX Rallies As Banks Rebound

(RTTNews) - German stocks were sharply higher on Wednesday as banks recovered from steep losses in the previous session.

The benchmark DAX was up 190 points, or 1.2 percent, at 15,964 after losing 1.1 percent in the previous session.

The euro edged up against the dollar ahead of U.S. inflation readings this week that might influence the Fed's rate trajectory.

Commerzbank climbed 1.7 percent and Deutsche Bank soared nearly 3 percent after the Italian government clarified that its 40 percent windfall tax on banks would not amount to more than 0.1 percent of their total assets.

Delivery Hero jumped almost 8 percent after the online takeaway food company upgraded its revenue guidance.

Automotive parts manufacturer Continental added 1.6 percent despite cutting its sales outlook for the year.

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Europe Car Sales Rebound In July

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Europe's new car sales rebounded in July on strong demand for battery electric and plug-in hybrid cars, the European Automobile Manufacturers' Association reported Thursday. Car registrations in the European Union advanced 7.4 percent year-on-year in July, offsetting June's 7.3 percent decrease. Data showed an annual rise of 39.1 percent for battery-electric and 14.3 percent for hybrid-electric
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European Shares Seen Higher At Open

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Sensex Nifty Decline On Tariff Worries

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Indian shares opened on a sluggish note on Thursday after U.S. President Donald Trump's 50 percent tariffs on Indian goods came into effect, impacting trade worth billions of dollars and risking Washington-New Delhi ties.
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European Economic News Preview: Eurozone Economic Sentiment Data Due

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Australian Market Trims Early Losses In Mid-market

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The Australian market is trimming early losses in mid-market moves on Thursday, giving up some of the gains in the previous session, despite the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling to near the 8,950 level, with weakness in iron ore miners, energy and technology stocks partially offset by gains in financial stocks.
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Asian Markets Trade Mostly Higher

Asian Markets Trade Mostly Higher

Asian stock markets are mostly higher on Thursday, following the broadly positive cues from Wall Street overnight, as traders remain optimistic the US Fed will cut interest rates at their next meeting in September. They also remain cautious ahead of the release of key US economic data later in the week, including second quarter GDP and the Fed's preferred readings on consumer price inflation.
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