European Stocks Fail To Hold Early Gains, End On Mixed Note

RTTNews | 1069 dagar sedan
European Stocks Fail To Hold Early Gains, End On Mixed Note

(RTTNews) - European stocks failed to hold early gains and ended on a mixed note on Friday with investors assessing the likely impact of the interest rate hikes announced by central banks including the Federal Reserve and the Bank of England, on global economic growth.

The Chinese cabinet's pledge to come out with required measures to ramp up support for the ailing economy, and comments by U.S. President Joe Biden that U.S. recession isn't inevitable and that the country was "in a stronger position than any nation in the world to overcome inflation," lifted sentiment early on in the session.

However, with the mood turning cautious past mid afternoon, stocks began to shed gains and eventually ended on a mixed note.

Following the Federal Reserve's announcement of a 75-basis point hike in interest rate on Wednesday, the Bank of England and the Swiss National Bank raised their lending rates today, aiming to fight the soaring inflation.

Taiwan's central bank also increased its benchmark rate by 0.125 percentage points on Thursday, raising rates for the second time in a row.

The pan European Stoxx 600 edged up 0.09%. The U.K.'s FTSE 100 ended down 0.41%, Germany's DAX gained 0.67%, France's CAC 40 ended 0.06% down, and Switzerland's SMI drifted down 0.23%.

DAX and CAC 40 both shed nearly 5% in the week, while the FTSE 100 shed about 4.1% and the pan European Stoxx 600 lost 4.6% in the week.

Among other markets in Europe, Belgium, Czech Republic, Denmark, Finland, Greece, Ireland, Norway, Spain and Turkey ended higher.

Netherlands, Poland, Portugal, Russia and Sweden closed weak, while Austria ended flat.

In the UK market, BP shed more than 6%. Rio Tinto, Shell, Harbour Energy, Antofagasta, Anglo American and Ashtead Group 3.8 to 6.2%. Fresenillo, Standard Chartered and London Stock Exchange also closed sharply lower.

Sage Group and Ocado Group both gained about 5.6%. ICP, Auto Trader Group, JD Sports Fashion, Avast, Pershing Square Holdings, Coca-Cola HBC, Aveva Group, IAG and Pearson gained 2.5 to 4%.

In the French market, WorldLine, Essilor, Danone, Michelin, Atos, Safran, Societe Generale, Cap Gemini, Renault, Airbus Group and Air France-KLM gained 1 to 4.3%.

Carrefour, Air Liquide, Kering, ArcelorMittal and Schneider Electric shed 1.3 to 2%.

In Germany, Deutsche Wohnen climbed more than 7%. Vonovia, Zalando, E.ON, Adidas, Deutsche Post and Symrise gained 2 to 3.5%. Deutsche Telekom, SAP, Bayer, HelloFresh and Infineon Technologies also posted strong gains.

Merck declined more than 3%. Brenntag, Porsche Automobil and Covestro shed 1 to 2%.

In European economic news today, Eurozone inflation accelerated to a fresh record high in May driven by surging energy prices, final data from Eurostat showed. Inflation rose to 8.1% in May, in line with flash estimate, from 7.4% in April. A year earlier, the rate was 2%.

Core inflation that excludes energy, food, alcohol and tobacco, increased to 3.8% from 3.5% in the previous month. The core rate also came in line with the estimate published on May 31.

read more
Australian Market Slightly Trims Early Losses In Mid-market

Australian Market Slightly Trims Early Losses In Mid-market

The Australian market is slightly trimming its early losses in mid-market moves on Thursday, reversing the gains in the previous two sessions, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 8,350 level, with weakness across most sectors led by and technology and energy stocks. Gold miners are the only bright spot.
RTTNews | 35 minuter sedan
Asian Markets Tracks Wall Street Lower

Asian Markets Tracks Wall Street Lower

Asian stock markets are trading mostly lower on Thursday, following the broadly negative cues from Wall Street overnight, amid rising treasury yields on concerns about the fiscal impact of a new U.S. tax bill on the country's deficit. The lack of clear progress on new trade deals is also weighing on the markets. Asian markets closed mostly higher on Wednesday.
RTTNews | 56 minuter sedan
Sensex, Nifty Set To Open Lower After US Selloff

Sensex, Nifty Set To Open Lower After US Selloff

Indian shares may open lower on Thursday as investors react to escalating geopolitical tensions, rising U.S. Treasury yields and a lack of progress on U.S. trade talks with partners.
RTTNews | 1h 22minuter sedan
Soft Start Anticipated For Thai Stock Market

Soft Start Anticipated For Thai Stock Market

The Thai stock market has alternated between positive and negative finishes through the last 11 trading days since the end of the five-day winning streak in which it had advanced more than 50 points or 4.3 percent. The Stock Exchange of Thailand now sits just beneath the 1,180-point plateau and it may tick lower again on Thursday.
RTTNews | 1h 55minuter sedan
Japanese Market Notably Lower

Japanese Market Notably Lower

The Japanese market is trading notably lower on Thursday, extending the losses in the previous session, following the broadly negative cues from Wall Street overnight. The Nikkei 225 is falling well below the 37,100 level, with weakness across most sectors led by index heavyweights and technology stocks.
RTTNews | 2h 25minuter sedan
Indonesia Bourse May Hand Back Wednesday's Gains

Indonesia Bourse May Hand Back Wednesday's Gains

The Indonesia stock market bounced higher again on Wednesday, one day after snapping the five-day winning streak in which it had rallied more than 310 points or 4.5 percent. The Jakarta Composite Index now rests just above the 7,140-point plateau, although it may head south again on Thursday. The global forecast for the Asian markets is negative on concerns over rising bond yields. The European markets were mixed and the U.S. bourses were sharply lower and the Asian markets also figure to open under pressure.
RTTNews | 2h 25minuter sedan
Lower Open Called For Hong Kong Stock Market

Lower Open Called For Hong Kong Stock Market

The Hong Kong stock market has finished higher in consecutive trading days, accelerating almost 500 points or 2.2 percent along the way. The Hang Seng Index now sits just above the 23,825-point plateau, although it's likely to run out of steam on Thursday.
RTTNews | 2h 40minuter sedan
Australian Market Notably Lower

Australian Market Notably Lower

The Australian market is trading notably lower on Thursday, reversing the gains in the previous two sessions, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling to near the 8,300 level, with weakness across most sectors led by and technology stocks. Gold miners are the only bright spot.
RTTNews | 2h 43minuter sedan