European Stocks Closed On Mixed Note After Choppy Ride

RTTNews | 912 dagar sedan
European Stocks Closed On Mixed Note After Choppy Ride

(RTTNews) - European stocks closed on a mixed note on Tuesday after swinging between gains and losses in cautious trade as investors reacted to Covid-related news from China and the latest batch of European economic data, and looked ahead to some crucial data, including the monthly jobs report, from the U.S., due later in the week.

Mainland China reported the first decrease in new Covid infections in more than a week on Monday, generating some positive sentiment.

Chinese health officials also released a plan to boost vaccinations for elderly people and said they are "closely watching" the virus as it evolves and mutates.

The officials defended China's zero-Covid policy at a press briefing on Tuesday but said lockdowns would be lifted "as quickly as possible."

The pan European Stoxx 600 ended down 0.13%. The U.K.'s FTSE 100 climbed 0.51%, France's CAC 40 edged up 0.06% and Germany's DAX dropped 0.19%, while Switzerland's SMI ended lower by 0.76%.

Among other markets in Europe, Austria, Denmark, Finland, Greece, Norway, Poland, Portugal, Russia and Turkiye closed higher.

Belgium, Czech Republic, Iceland, Ireland, Netherlands and Sweden ended weak, while Spain settled flat.

In the UK market, Standard Chartered is gaining more than 5%, HSBC Holdings is climbing nearly 4.5% and Prudential is up almost 4%.

Rio Tinto, Anglo American Plc, Airtel Africa, Antofagasta, Glencore, Natwest Group, Barclays, BP, Shell, GSK and DCC are up 1.5 to 3.75%.

Halma ended more than 6% down. Sage Group drifted down 3.7%. Croda International, Ocado Group, Rentokil Initial, Experian, Intertek Group, Dechra Pharmaceuticals, Severn Trent and Relx lost 2 to 2.8%.

In Paris, ArcelorMittal and TotalEnergies surged 3% and 2.65%, respectively. Kering, Airbus Group, BNP Paribas, Stellantis and Renault gained 1 to 1.5%.

Capgemini and Worldline both ended nearly 3% down. Dassault Systemes, Eurofins Scientific, STMicroElectronics, Schneider Electric, Air Liquide, L'Oreal, Michelin, Veolia and Vivendi lost 1 to 2.2%.

In the German market, Zalando rallied nearly 4%. Covestro gained about 3.5%, while Munich RE, Fresenius, Volkswagen, Daimler, BMW and Continental gained 1.3 to 2%.

HelloFresh ended lower by about 4.2%. Sartorius, Linde, Symrise, Merck and Brenntag shed 2 to 2.8%. Brenntag confirmed a Bloomberg News report that it's mulling the acquisition of U.S. distributor Univar Solutions In.

In economic news, Germany's consumer price inflation slowed in November amid a sharp easing in energy price growth, which still remains strong, while economists cautioned that it is too early to say inflation has embarked on a downward trend in the biggest euro area economy.

The consumer price index, or CPI, rose 10.0 percent year-on-year following a 10.4 percent increase in October, preliminary data from the statistical office Destatis in Wiesbaden showed. Economists had expected the inflation rate to remain steady.

Survey results published by the European Commission revealed that Eurozone economic confidence improved for the first time in nine months in November driven by the rebound in consumer sentiment.

The economic sentiment index rose more-than-expected to 93.7 in November from 92.7 in October. The expected score was 93.5.

The industrial confidence index unexpectedly fell to -2.0 from -1.2 in the previous month. The reading was weaker than the expected -0.5 and hit the lowest since January 2021.

Meanwhile, services sentiment halted its persistent decline since March. The corresponding index advanced to 2.3 from 2.1 a month ago and was also above economists' forecast of 2.0.

Switzerland's economy expanded at a slower-than-expected pace in the third quarter as high inflation weighed on consumer spending, official data showed Tuesday.

The economy registered a sequential growth of 0.2% in the three months to September, following the second quarter's downwardly revised 0.1% rise, the State Secretariat for Economic Affairs, or SECO, in Bern reported.

Economists had forecast the gross domestic product to grow 0.3%, the same as the second quarter's initially estimated expansion.

read more
U.S. Economic Shrinks Slightly Less Than Previously Estimated In Q1

U.S. Economic Shrinks Slightly Less Than Previously Estimated In Q1

A report released by the Commerce Department on Thursday showed the U.S. economy shrank by slightly less than previously estimated in the first quarter of 2025. The Commerce Department said real gross domestic product edged down by a revised 0.2 percent in the first quarter compared to the previously reported 0.3 percent dip. Economists had expected the modest decrease to be unrevised.
RTTNews | 1h 17minuter sedan
U.S. Weekly Jobless Claims Climb More Than Expected To 240,000

U.S. Weekly Jobless Claims Climb More Than Expected To 240,000

First-time claims for U.S. unemployment benefits rose by more than expected in the week ended May 24th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims climbed to 240,000, an increase of 14,000 from the previous week's revised level of 226,000. Economists had expected jobless claims to inch up to 230,000.
RTTNews | 1h 19minuter sedan
Hormel Foods Recalls 256K Pounds Of Canned Beef Stew Product

Hormel Foods Recalls 256K Pounds Of Canned Beef Stew Product

Hormel Foods Corp. is recalling around 256,185 pounds of canned beef stew product that may be contaminated with foreign material, specifically wood, according to the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS. The Tucker, Georgia-based branded food major's recall involves 20-oz. metal cans containing "Dinty Moore BEEF STEW" with "BEST BY FEB 2028".
RTTNews | 1h 53minuter sedan
UK Vehicle Manufacturing Logs Weakest Start To Year Since 2009: SMMT

UK Vehicle Manufacturing Logs Weakest Start To Year Since 2009: SMMT

UK automotive manufacturing registered its weakest start to a year since 2009, the Society of Motor Manufacturers & Traders, or SMMT, said Thursday. Car and commercial vehicle production decreased 15.8 percent on a yearly basis to 59,203 units in April. Auto production fell to the lowest level for the month since 1952, excluding 2020 when the first Covid lockdown effectively saw manufacturing c
RTTNews | 2h 21minuter sedan
Bay Street Looks Set To Start On Firm Note

Bay Street Looks Set To Start On Firm Note

Canadian shares look headed for a firm start on Thursday, with encouraging earnings by Royal Bank of Canada and Canadian Imperial Bank of Commerce, and a U.S. court ruling against U.S. President Donald Trump's sweeping tariff moves set to lift sentiment.
RTTNews | 2h 36minuter sedan
U.S. Weekly Jobless Claims Rise More Than Expected

U.S. Weekly Jobless Claims Rise More Than Expected

First-time claims for U.S. unemployment benefits rose by more than expected in the week ended May 24th, according to a report released by the Labor Department on Thursday.
RTTNews | 2h 55minuter sedan