European Shares Gain After UK, Eurozone Inflation Data
(RTTNews) - European stocks traded higher on Wednesday after falling sharply the previous day on concerns about escalating geopolitical tensions and uncertainty about the outlook for U.S. rates.
In economic releases, data showed U.K. consumer price inflation rose by less than expected to 3.2 percent in March from 3.4 percent in February, making it likely that the Bank of England will lower its key interest rate later this year.
Final data from Eurostat revealed that inflation in the 20 nations sharing the euro currency slowed across the board last month, raising expectations for an ECB rate cut in June.
Euro zone inflation slowed to 2.4 percent from 2.6 percent in February, matching the preliminary estimate released earlier this month.
The pan European STOXX 600 rose half a percent to 500.77 after falling 1.5 percent in its worst session in nine months on Tuesday.
The German DAX gained half a percent, France's CAC 40 jumped 1.1 percent and the U.K.'s FTSE 100 was up 0.4 percent.
In corporate news, Swedish commercial vehicle major AB Volvo rose 2.4 percent after its Q1 adjusted operating profit beat forecasts.
Dutch semiconductor equipment maker ASML Holding N.V. slumped 4.1 percent after reporting weaker-than-expected new bookings in its first-quarter results.
Likewise, food delivery company Just Eat Takeaway.com lost 5.5 percent after orders slipped in the first quarter.
Mining giants Antofagasta, Glencore, Rio Tinto and Anglo American rallied 2-4 percent after iron ore futures climbed to their highest levels in more than five weeks.
Fast-fashion retailer ASOS climbed 2.5 percent after backing its guidance for the fiscal year and naming a new CFO.
Saga, a specialist in products and services for people over 50, declined 1.7 percent after it posted a loss before tax of 129.0 million pounds for the year ended 31 January 2024.
Gambling group Entain climbed 3 percent after delivering Q1 online gaming revenue ahead of expectation.
read more
China Bourse May Challenge Resistance At 3,200 Points
The China stock market has tracked higher in three straight sessions, gathering more than 50 points or 1.8 percent in that span. The Shanghai Composite Index now sits just above the 3,170-point plateau and it's tipped to open in the green again on Tuesday.
The global forecast for the Asian markets is cautiously optimistic, with strength likely from the technology shares. The European markets were up and the U.S. bourses were mixed and the Asian markets are tipped to open to the upside.
The SCI finished modestly higher again on Monday following gains from the resource and energy companies, while the financials were soft and the properties were mixed.
For the day, the index added 17.12 points or 0.54 percent to finish at 3,171.15 after trading between 3,155.99 and 3,174.27. The Shenzhen Composite Index gained 8.39 points or 0.47 percent to end at 1,793.98.
Among the actives, Industrial and Commercial Bank of China dipped 0.18 percent, while Bank of China shed 0.45 percent, China Construction Bank lost 0.42 percent, China Merchants Bank retreated 1.28 percent, Bank of Communications sank 0.57 percent, China Life Insurance advanced 1.00 percent, Jiangxi Copper skyrocketed 5.87 percent, Aluminum Corp of China (Chalco) surged 4.76 percent, Yankuang Energy soared 3.54 percent, PetroChina rallied 2.92 percent, China Petroleum and Chemical (Sinopec) climbed 1.10 percent, Huaneng Power jumped 1.70 percent, China Shenhua Energy accelerated 2.61 percent, Gemdale spiked 5.25 percent, Poly Developments slumped 1.07 percent and China Vanke was up 2.00 percent.
RTTNews
|
4h 14minuter sedan
Rebound Anticipated For Taiwan Stock Market
The Taiwan stock market ticked higher again on Monday, one session after ending the five-day winning streak in which it had surged more than 750 points or 3.8 percent. The Taiwan Stock Exchange now sits just above the 21,270-point plateau although it's likely to bounce higher again on Tuesday.
The global forecast for the Asian markets is cautiously optimistic, with strength likely from the technology shares. The European markets were up and the U.S. bourses were mixed and the Asian markets are tipped to open to the upside.
The TSE finished slightly higher on Monday following mixed performances from the financial shares, technology stocks and plastics and cement companies.
For the day, the index perked 13.16 points or 0.06 percent to finish at 21,271.63 after trading between 21,102.18 and 21,338.35.
Among the actives, Cathay Financial sank 0.71 percent, while Mega Financial dipped 0.12 percent, CTBC Financial collected 1.18 percent, First Financial surged 3.03 percent, Fubon Financial skidded 1.07 percent, E Sun Financial improved 1.38 percent, United Microelectronics Corporation added 0.57 percent, Hon Hai Precision retreated 1.47 percent, Largan Precision shed 0.43 percent, Catcher Technology shed 0.68 percent, MediaTek rallied 2.15 percent, Delta Electronics declined 1.40 percent, Novatek Microelectronics strengthened 1.49 percent, Formosa Plastics fell 0.29 percent, Nan Ya Plastics gained 1.24 percent, Asia Cement jumped 1.91 percent, Taiwan Cement slid 0.15 percent, China Steel advanced 0.80 percent and Taiwan Semiconductor Manufacturing Company was unchanged.
RTTNews
|
4h 44minuter sedan
Continued Support Predicted For Singapore Stock Market
The Singapore stock market has moved higher in three straight sessions, gathering almost 25 points or 0.6 percent along the way. The Straits Times Index now rests just beneath the 3,315-point plateau and it's expected to extend its gains again on Tuesday.
The global forecast for the Asian markets is cautiously optimistic, with strength likely from the technology shares. The European markets were up and the U.S. bourses were mixed and the Asian markets are tipped to open to the upside.
RTTNews
|
5h 14minuter sedan
Win Streak May Continue For Malaysia Stock Market
The Malaysia stock market has moved higher in three straight sessions, adding almost 25 points or 1.7 percent in that span. The Kuala Lumpur Composite Index now sits just above the 1,625-point plateau and it may add to its winnings again on Tuesday.
The global forecast for the Asian markets is cautiously optimistic, with strength likely from the technology shares. The European markets were up and the U.S. bourses were mixed and the Asian markets are tipped to open to the upside.
The KLCI finished modestly higher on Monday following gains from the financial shares, plantation stocks and telecoms.
For the day, the index gained 10.88 points or 0.67 percent to finish at 1,627.50 after trading between 1,618.28 and 1,629.81.
Among the actives, Axiata spiked 2.11 percent, while Celcomdigi soared 2.46 percent, CIMB Group gained 0.44 percent, Genting climbed 1.27 percent, Genting Malaysia improved 0.73 percent, IHH Healthcare increased 0.64 percent, Kuala Lumpur Kepong gathered 0.18 percent, Maxis accelerated 1.88 percent, Maybank collected 0.71 percent, MISC perked 0.12 percent, MRDIY tumbled 1.61 percent, Petronas Chemicals strengthened 1.29 percent, PPB Group rallied 1.32 percent, Press Metal surged 3.65 percent, QL Resources sank 0.30 percent, RHB Capital and Petronas Gas both added 0.55 percent, Sime Darby slumped 1.05 percent, Sime Darby Plantations rose 0.22 percent, Telekom Malaysia advanced 1.13 percent, Tenaga Nasional jumped 1.43 percent, YTL Corporation lost 0.26 percent and YTL Power, Public Bank, IOI Corporation and Hong Leong Bank were unchanged.
RTTNews
|
5h 44minuter sedan
South Korea Shares May Extend Monday's Gains
The South Korea stock market bounced higher again on Monday, one session after ending the two-day winning streak in which it had advanced more than 25 points or 1 percent. The KOSPI now sits just above the 2,740-point plateau and it may tick higher again on Tuesday.
The global forecast for the Asian markets is cautiously optimistic, with strength likely from the technology shares. The European markets were up and the U.S. bourses were mixed and the Asian markets are tipped to open to the upside.
The KOSPI finished modestly higher on Monday following gains from the financial shares and industrials, while the technology stocks were mixed.
For the day, the index added 17.52 points or 0.64 percent to finish at 2,742.14 after trading between 2,734.64 and 2,756.41. Volume was 572.2 million shares worth 12.1 trillion won. There were 474 decliners and 402 gainers.
Among the actives, Shinhan Financial soared 2.73 percent, while KB Financial collected 1.87 percent, Hana Financial rallied 1.90 percent, Samsung Electronics jumped 1.94 percent, Samsung SDI retreated 1.62 percent, LG Electronics sank 0.41 percent, SK Hynix perked 0.11 percent, Naver slumped 1.76 percent, LG Chem tumbled 1.63 percent, Lotte Chemical strengthened 2.10 percent, S-Oil surged 2.91 percent, SK Innovation added 0.37 percent, POSCO improved 0.75 percent, SK Telecom rose 0.39 percent, KEPCO climbed 1.01 percent, Hyundai Mobis was up 0.22 percent, Hyundai Motor accelerated 2.66 percent and Kia Motors spiked 1.95 percent.
RTTNews
|
6h 14minuter sedan
RBA Minutes On Tap For Tuesday
The Reserve Bank of Australia will on Tuesday release the minutes from its May 7 monetary policy meeting, highlighting a light day for Asia-Pacific economic activity.
RTTNews
|
7h 14minuter sedan
Dollar Stays Firm Against Major Counterparts
The U.S. dollar stayed largely positive on Monday with traders assessing the likely moves of the Federal Reserve with regard to interest rates.
RTTNews
|
8h 14minuter sedan
SMI Hits New 52-week High, Ends On Strong Note Again
The Switzerland market ended on a firm note on Monday, extending its long winning streak, as the mood continued to remain positive thanks to strong quarterly earnings, and expectations of interest rate cuts.
RTTNews
|
11h 36minuter sedan
