European Shares Edge Higher As Draghi Speaks

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European Shares Edge Higher As Draghi Speaks

(RTTNews) - European stocks were seeing modest gains on Wednesday as worries about gas supplies eased and U.S. streaming giant Netflix posted better than expected results for the June quarter.

Italian Prime Minister Mario Draghi said in a speech to the Senate that he was willing to put together a new coalition.

The European Central Bank is seen raising interest rates for the first time in 11 years at Thursday's meeting of the governing council. In economic releases, Germany's producer price inflation eased unexpectedly in June from a record high in May, while U.K. consumer inflation hit a new 40-year high in June on rising motor fuel and food prices, separate reports showed.

The pan European Stoxx 600 was up 0.3 percent at 424.74 after rallying 1.4 percent in the previous session.

The German DAX, Franc's CAC 40 index and the U.K.'s FTSE 100 rose between 0.2 percent and 0.3 percent.

Commodity-related stocks climbed as recession worries ebbed. Miners Anglo American and Glencore rallied 1-2 percent, while oil & gas firm BP Plc advanced 1.7 percent and Shell added 1 percent.

Advertising firm WPP jumped 2.4 percent after U.S. rival Omnicom Group reported second-quarter earnings that beat analysts' forecasts.

Postal service and courier company Royal Mail tumbled 4.7 percent after its fiscal first-quarter group revenue fell 11.5 percent year-on-year.

Morses Club shares plunged 43 percent after the subprime lender said it was looking at a potential program to settle customer redress claims.

Uniper shares jumped 19 percent. The company is nearing a bailout deal that may see the German government inject billions of euros and take a direct stake in the energy giant, the Bloomberg said, citing people familiar with the matter.

ASML Holding N.V. shares were moving lower after the Dutch semiconductor equipment maker trimmed its revenue growth forecast for fiscal 2022.

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Sensex, Nifty Marginally Higher In Lackluster Trade

Sensex, Nifty Marginally Higher In Lackluster Trade

Indian shares were marginally higher on Wednesday after top U.S. and Chinese officials agreed on a "framework" to move forward on trade, following two days of high-level talks in London.
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Australian Market Trims Early Gains In Mid-market

Australian Market Trims Early Gains In Mid-market

The Australian market is trimming its early gains in mid-market moves on Wednesday, but extending the gains in the previous session, with the benchmark S&P/ASX 200 moving above the 8,600 level to fresh all-time highs, following the positive cues from Wall Street overnight, with gains in iron ore miners, energy and financial stocks partially offset by weakness in gold miners and technology stocks.
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Asian Markets Track Wall Street Higher

Asian Markets Track Wall Street Higher

Asian stock markets are trading mostly higher on Wednesday, following the broadly positive cues from Wall Street overnight, amid easing trade war tensions after top U.S. and Chinese officials agreed upon a "framework" to move forward on trade, following two days of high-level talks in London. The framework will first need to be approved by leaders in Washington and Beijing.
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Sensex, Nifty Set For Muted Start

Sensex, Nifty Set For Muted Start

Indian shares are seen opening little changed on Wednesday despite top U.S. and Chinese officials agreeing on a "framework" to move forward on trade, following two days of high-level talks in London.
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Thai Bourse May Extend Tuesday's Gains

Thai Bourse May Extend Tuesday's Gains

The Thai stock market on Tuesday ended the two-day slide in which it had slipped more than 5 points or 0.4 percent. The Stock Exchange of Thailand now rests just beneath the 1,140-point plateau and it may tick higher again on Wednesday.
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Japanese Market Modestly Higher

Japanese Market Modestly Higher

The Japanese stock market is trading modestly higher on Wednesday, extending the gains in the previous three sessions, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving above the 38,300 level, with gains across most sectors led by index heavyweights and technology stocks. Financial stocks are a weak spot.
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Indonesia Shares May Open To The Upside

Indonesia Shares May Open To The Upside

The Indonesia stock market has moved higher in three straight sessions, gathering almost 190 points or 2.7 percent along the way. The Jakarta Composite Index now rests just above the 7,230-point plateau and it's looking at a firm lead again for Wednesday's trade.
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Higher Open Expected For Hong Kong Shares

Higher Open Expected For Hong Kong Shares

The Hong Kong stock market has moved lower in two of three trading days since the end of the three-day winning streak in which it had rallied almost 750 points or 3.5 percent. The Hang Seng Index now sits just above the 24,160-point plateau and it's likely to remain rangebound on Wednesday.
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