European Stocks Fail To Hold Early Gains, Close Broadly Lower

RTTNews | 654 dagar sedan
European Stocks Fail To Hold Early Gains, Close Broadly Lower

(RTTNews) - European stocks failed to hold early gains and settled lower on Thursday, facing stiff resistance at higher levels as investors turned a bit cautious ahead of the Jackson Hole Symposium.

US chipmaker Nvidia's upbeat results triggered strong buying in the technology space and lifted the markets earlier in the day. Slightly easing worries about policy tightening after data showed contraction in manufacturing activity in several major economies contributed as well to the early surge.

The pan European Stoxx 600 fell 0.41%. Germany's DAX dropped 0.68% and France's CAC 40 declined 0.44%, while the U.K.'s FTSE 100 gained 0.18%. Switzerland's SMI edged up 0.03%.

Among other markets in Europe, Austria, Czech Republic, Denmark, Finland, Iceland, Netherlands, Poland, Russia, Sweden and Turkiye closed weak.

Belgium, Greece, Ireland, Portugal and Spain ended higher, while Norway settled flat.

In the UK market, Aviva and Legal & General both shed more than 2.5%. Mondi, St. James's Place, Whitbread, Land Securities, CRH, BT Group, Antofagasta, IHG and Glencore lost 1 to 2%.

JD Sports Fashion rallied more than 5%. Ocado Group, Convatec, Croda International, Fresnillo, Halma, B&M European Value Retail, Severn Trent, Compass Group, British American Tobacco, Barclays and Beazley gained 1 to 1.8%.

In the German market, Daimler Truck Holding ended down 3.3%. Infineon lost about 2.5% and SAP ended lower by 2.2%.

Zalando, BMW, Volkswagen, Deutsche Post and Siemens lost 1 to 1.7%.

Covestro climbed more than 3.5%. Symrise and Hannover Rueck gained about 1.9% and 1.3%, respectively. Deutsche Bank and Munich RE advanced 1% and 0.8%, respectively.

In Paris, STMicroElectronics, Renault, Kering, WorldLine, Hermes International, Capgemini, Saint Gobain and Stellantis lost 1 to 2.5%.

In the Swiss market, UBS Group shares gained nearly 3%. Swiss lender Credit Suisse, now part of UBS Group, said it has dropped its plan for initial public offering of real-estate fund citing low trading volumes for listed Swiss real-estate funds.

In economic news, a survey showed France's manufacturing confidence deteriorated to the lowest since early 2021 on weak assessment of order books and past production.

The manufacturing sentiment index slid to 96 in August from 101 in July - according to survey results published by the statistical office INSEE. This was the lowest reading since January 2021 and also below economists' forecast of 99.

read more
Yen Rises After Japan GDP Data

Yen Rises After Japan GDP Data

The Japanese yen strengthened against other major currencies in the Asian session on Monday, after data showed that an upward revision to Japan's first quarter GDP supporting the interest rate hike expectations.
RTTNews | 1h 1minuter sedan
China Consumer Prices Fall For Fourth Month; Exports Rise

China Consumer Prices Fall For Fourth Month; Exports Rise

China's consumer prices declined for the fourth consecutive month and the decline in producer prices worsened in May, deepening deflation worries among policymakers as domestic demand remained weak despite taking enormous measures to boost consumption. Another report showed an increase in exports in May despite a sharp decline in shipments to the US due to trade tariff uncertainties.
RTTNews | 1h 33minuter sedan
Yen Rises Against Majors

Yen Rises Against Majors

The Japanese yen strengthened against other major currencies in the Asian session on Monday.
RTTNews | 2h 3minuter sedan
Australian Dollar Rises As Traders Focus On US-China Trade Talks

Australian Dollar Rises As Traders Focus On US-China Trade Talks

The Australian dollar strengthened against other major currencies in the Asian session on Monday, as traders will be closely watching the US-China trade discussions because they will impact the next move in the Australian Dollar (AUD).
RTTNews | 2h 31minuter sedan
European Shares Likely To Open On Soft Note

European Shares Likely To Open On Soft Note

European stocks are seen opening broadly lower on Monday as investors react to Trump-Elon Musk feud over the president's tax-and-spending plan and await the high-level U.S.-China trade talks.
RTTNews | 3h 1minuter sedan
Sensex, Nifty Open Higher On Strong US Jobs Data

Sensex, Nifty Open Higher On Strong US Jobs Data

Indian shares traded higher on Monday, with underlying sentiment supported by firm cues from global markets after the release of better-than-expected monthly jobs report from the U.S.
RTTNews | 4h 28minuter sedan
Asian Markets Track Wall Street Higher

Asian Markets Track Wall Street Higher

Asian stock markets are trading mostly higher on Monday, following the broadly positive cues from Wall Street on Friday, amid easing trade war tensions after leaders of the U.S. and China agreed to further talks aimed at reaching a deal. Slightly stronger than expected U.S. job growth in May also helped offset concerns about the strength of the economy following some recent downbeat data.
RTTNews | 5h 25minuter sedan