European Shares Flat To Slightly Higher On Positive German Data

RTTNews | 596 dagar sedan

(RTTNews) - European stocks were little changed in cautious trade on Tuesday, with prospects of escalation in the Middle East conflict and downbeat quarterly results from the likes of Ericsson and Lonza keeping weighing on sentiment.

Regional markets opened on a subdued note before seeing some recovery after Germany's ZEW economic sentiment index beat expectations - improving to -1.1 from -11.4 in September.

Elsewhere, official data showed the U.K. average earnings growth slowed in three months to August.

Average earnings excluding bonuses grew 7.8 percent in three months to August - coming in line with expectations but slower than the 7.9 percent increase seen in three months to July.

Nonetheless, this was one of the highest annual growth rates since comparable records began in 2001.

The pan European STOXX 600 was marginally higher at 450.30 after rising 0.2 percent on Monday.

The German DAX and France's CAC 40 were little changed with a positive bias while the U.K.'s FTSE 100 was up half a percent.

Swedish telecom equipment maker Ericsson slumped 8.2 percent after reporting a fall in third-quarter revenue.

Lonza plummeted 8.5 percent. The Swiss supplier for pharmaceutical and nutrition companies has warned on a hit to 2024 earnings due to lost revenue from an agreement with Moderna Inc.

Rolls-Royce Holdings rallied 2.3 percent after the British engineering company said it would cut up to 2,500 jobs in a bid to streamline group.

Homebuilder Bellway rose about 1 percent, reversing an early slide after forecasting an over 31 percent slump in annual home-building in the 2024 fiscal year.

Deutsche Post AG shares fell 1.2 percent. DHL Supply Chain, a logistic firm and a division of Germany's Deutsche Post announced today that it is planning to invest 350 million euros in Southeast Asia over the next five years to expand its warehousing capacity, workforce, and sustainability initiatives.

China-exposed LVMH, Kering and Hermes International were down between 0.6 percent and 1.3 percent in Paris ahead of the Chinese GDP growth report for the third quarter of the year due to be released on Wednesday. Chinese reports on retails sales and industrial production are also due.

Canadian Market Down In Negative Territory After BoC Holds Interest Rate

After opening slightly up and advancing a bit, Canadian stocks retreated Wednesday morning, with investors digesting the Bank of Canada's rate decision, and assessing the prospects of trade negotiations with the U.S. in the wake of U.S. President Donald Trump doubling tariffs on steel and aluminum.

RTTNews | 23 minuter sedan

U.S. Services Index Unexpectedly Indicates Slight Contraction In May

Service sector activity in the U.S. unexpectedly saw a slight contraction in the month of May, the Institute for Supply Management revealed in a report released on Wednesday. The ISM said its services PMI fell to 49.9 in May from 51.6 in April, with a reading below 50 indicating contraction. Economists had expected the index to inch up to 52.0.

RTTNews | 2h 15minuter sedan

Bank Of Canada Once Again Leaves Interest Rates Unchanged

The Bank of Canada on Wednesday announced its widely expected decision to leave interest rates unchanged for the second consecutive meeting. The Canadian central bank said it decided to maintain its target for the overnight rate at 2.75 percent, with the Bank Rate at 3 percent and the deposit rate at 2.70 percent.

RTTNews | 2h 38minuter sedan

FSIS Announces Recalls Of 22K Pounds Of Beef, Pork Products For Various Reasons

The U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS announced recalls of around 22 thousand pounds of select beef and pork products, citing various reasons including misbranding and undeclared allergens. Springville, Utah-based Springville Meat & Cold Storage Co., Inc. called back around 15,388 pounds of heat-treated shelf-stable ready-to-eat or RTE beef jerky/beef...

RTTNews | 3h 9minuter sedan

U.S. Private Sector Adds 37,000 Jobs In May, Much Fewer Than Expected

A report released by payroll processor ADP on Wednesday showed private sector employment in the U.S. increased by much less than expected in the month of May. ADP said private sector employment rose by 37,000 jobs in May after climbing by a downwardly revised 60,000 jobs in April. Economists had expected private sector employment to jump by 115,000 jobs.

RTTNews | 3h 35minuter sedan

Eurozone Private Sector Expands For Fifth Month

Euro area private sector expanded for the fifth straight month in May, but the upturn was only fractional and the slowest in three months, final results of the purchasing managers' survey by S&P Global showed on Wednesday. The HCOB composite output index fell to 50.2 in May from 50.4 in April. However, the score was above the threshold 50-mark and also the flash estimate of 49.5.

RTTNews | 3h 58minuter sedan

U.S. Private Sector Employment Rises Much Less Than Expected In May

A report released by payroll processor ADP on Wednesday showed private sector employment in the U.S. increased by much less than expected in the month of May.

RTTNews | 4h 10minuter sedan

Bay Street May Open On Slightly Positive Note; BoC Rate Decision In Focus

Canadian shares look headed for a positive start Wednesday morning, ahead of the Bank of Canada's interest rate decision. The Canadian central bank is widely expected to leave interest rate unchanged.

RTTNews | 4h 23minuter sedan

EURUSD	1.14288	GBPUSD	1.35666	AUDUSD	0.6501
USDJPY	142.701	USDCAD	1.36616	USDCHF	0.81727

Advertisement

European Shares Flat To Slightly Higher On Positive German Data