European Shares Hold Steady Ahead Of ECB Minutes

RTTNews | 565 dagar sedan

(RTTNews) - European stocks were seeing modest gains on Thursday after a survey showed the euro area economy continued to contract in November, albeit at a slower pace with improvements seen across all sectors.

Investors await the release of the minutes of the European Central Bank's October meeting for important clues on the rate outlook.

ECB Governing Council member Joachim Nagel indicated at an event in Milan that the European Central Bank might be nearing its terminal rate for interest rate hikes.

The pan European STOXX 600 was up 0.2 percent at 457.92 after closing up 0.3 percent to touch a two-month high in the previous session.

The German DAX was marginally higher, while France's CAC 40 and the U.K.'s FTSE 100 both edged up around 0.2 percent.

Spanish utility Endesa declined 2.7 percent after cutting its profit and dividend outlook.

Stellantis N.V., a Dutch automaker, gained 1 percent after repurchasing 50 million common shares from Dongfeng Motor for about 934 million euros ($1.02 billion).

Ericsson lost about 1 percent. The Swedish ICT solutions provider has raised EUR 500 billion (USD 545.5m) through the issuance of a green bond.

Oil and gas shares advanced, with BP Plc climbing 1.1 percent and Shell adding 0.7 percent, despite oil extending overnight losses on concerns over delayed OPEC+ meeting.

Virgin Money UK fell 1.6 percent after reporting a drop in its annual profit.

Travel company Jet2 tumbled 3 percent after reporting its half-year results.

PZ Cussons rose 1.2 percent. The consumer goods company said its performance continues to be in line with the board's expectations and consistent with its fiscal 2024 outlook.

Japan Producer Price Data Due On Wednesday

Japan will on Tuesday release May figures for producer prices, highlighting a light day for Asia-Pacific economic activity. In April, producer prices were up 0.2 percent on month and 4.0 percent on year.

RTTNews | 14 minuter sedan

Gold Dips As US-China Trade Talks Continue

Gold prices dipped on Tuesday, ahead of US inflation report and ongoing US-China official talks, which is now the focus of investors from all over the world. Front Month Comex Gold for June delivery lost $11.20 (or 0.34%) to $3320.90 per troy ounce on Tuesday. Front Month Comex Silver for June delivery lost $14.60 cents (or 0.40%) to $36.542 today. The much-anticipated high-level trade talks between the world's two largest economies, U.S. and China, began on Monday in London and continued for the second day today. On the economic data front, the US Labor Department will release Consumer Price Index (CPI) data on Wednesday, which may help to determine the Federal Reserve's monetary policy before the Fed's June 17-18 meeting. Meanwhile, the World Bank, in its biannual Global Economic Prospects, has cut the global growth forecast to 2.3% from 2.7% for the current year citing "trade barriers" as a reason behind the global slowdown.

RTTNews | 2h 1minuter sedan

Crude Oil Prices Fade As US-China Talks Progress

Crude oil prices were down on Tuesday amidst uncertainty over trade talks between China and the United States continued, although the outcome remains uncertain. WTI oil closed down by $0.31 to settle at $64.98 per barrel. August Brent crude was last seen down by $0.03 to $67.01. To ease the standstill created by the reciprocal tariffs imposed by U.S. President Donald Trump and China, high-level officials from both nations convened at London on Monday to discuss steps to soften the conflict. As the talks went on for the second day today, Trump told reporters at the White House that the talks were "going well" and that he was "only getting good reports." While U.S. Treasury Secretary Scott Bessent described Monday's talks as "good meeting," the Commerce Secretary Howard Lutnick called them as "fruitful." On the geopolitical front, however, Russia showed no sign of relenting on its war with Ukraine and continued its attacks. Limiting the downside, the U.S. Energy Information Administration has reported today that US crude oil production is likely to decline over the next 18 months - while the approach of the summer driving season is also good news.

RTTNews | 2h 7minuter sedan

Canadian Dollar Appreciates Amid Risk Appetite

The Canadian dollar climbed against its major counterparts in the New York session on Tuesday, as investors monitored trade talks between the U.S. and China that continued for a second day.

RTTNews | 2h 47minuter sedan

Swiss Market Ends Marginally Down

Save for a very brief while at the start, the Switzerland market stayed weak on Tuesday as investors refrained from making significant moves, choosing to wait for directional clues. Investors awaited the outcome of the high-level trade discussions between U.S. and Chinese officials in London.

RTTNews | 4h 12minuter sedan

European Stocks Close On Mixed Note

European stocks turned in a mixed performance on Tuesday with investors mostly making cautious moves as they awaited the outcome of the ongoing Sino-U.S. trade talks in London. German stocks are drifting lower on Tuesday as investors await the outcome of high-level U.S. - China trade talks in London.

RTTNews | 4h 28minuter sedan

TSX Up Marginally; Energy Stocks Rise

After a flat start and a subsequent climb up north, the Canadian market retreated Tuesday morning, and at a little past noon, was up marginally, led by gains in energy, consumer and communications sectors. Investors are cautiously optimistic about some positive progress in U.S.-China trade relations.

RTTNews | 5h 35minuter sedan

U.S. Stocks Mostly Subdued In Lackluster Trade

U.S. stocks are turning in a mixed performance in lackluster trade on Tuesday as traders await the outcome of the ongoing trade talks between China and the U.S. in London. Trade negotiations between the world's two largest economies commenced on Monday, and no big breakthrough seems to have been arrived as yet.

RTTNews | 6h 12minuter sedan

EURUSD	1.1428	GBPUSD	1.35017	AUDUSD	0.65238
USDJPY	144.871	USDCAD	1.36722	USDCHF	0.8226

Advertisement

European Shares Hold Steady Ahead Of ECB Minutes