European Stocks Extend Gains To 3rd Straight Day

RTTNews | 1057 วันที่ผ่านมา
European Stocks Extend Gains To 3rd Straight Day

(RTTNews) - European stocks closed sharply higher on Tuesday, extending gains to a third straight session, with investors focusing on earnings updates and looking ahead to the European Central Bank's monetary policy announcement, due later in the week.

Stocks turned in a somewhat sluggish performance earlier in the day, reacting to reports of a spending slowdown at tech giant Apple and a mixed earnings update from IBM, as well as on worries about rate hikes after data showed a an acceleration in eurozone inflation and stronger than expected jobs growth in the U.K.

However, a rally on Wall Street thanks to strong corporate earnings, and rising hopes the Fed will less aggressive with its policy stance at its upcoming meeting later this month, helped lift sentiment as the day progressed.

The pan European Stoxx 600 gained 1.38%. The U.K.'s FTSE 100 advanced 1.01%. Germany's DAX surged 2.69%, France's CAC 40 climbed 1.79%, while Switzerland's SMI gained 1.02%.

Among other markets in Europe, Austria, Belgium, Finland, Ireland, Netherlands, Spain, Sweden and Turkey closed with strong gains.

Greece, Iceland, Norway, Poland and Portugal ended modestly higher. Russia closed weak, while Czech Republic and Denmark closed flat.

In the UK market, Informa gained nearly 6%. Burberry Group, JD Sports Fashion, B&M European Value Retail, Harbour Journey, Natwest Group, Standard Chartered, Smurfit Kappa Group, Lloyds Banking Group and Associated British Foods advanced 3 to 4.5%.

WPP, M&G, CRH, Land Securities, Smith (DS), Airtel Africa, DCC and ABRDN were among the other major gainers.

Ocado Group drifted down 3.2%. Haleon and Aveva Group ended lower by 2.4% and 2.2%, respectively.

In the German market, Adidas climbed more than 6%. Covestro, BASF, Deutsche Bank, Siemens, Bayer, E.ON, HeidelbergCement and Volkswagen gained 4 to 5.4%.

RWE, Daimler, Merck, BMW, Infineon Technologies, Zalando, Vonovia, Deutsche Post, MTU Aero Engines, Brenntag, Siemens Healthineers, Porsche Automobil and HelloFresh also rose sharply.

In France, Faurecia surged 5.7%. Publicis Groupe, Renault, Societe Generale, Valeo, Engie, ArcelorMittal, Accor, BNP Paribas, Veolia, Kering, Hermes International, Essilor, Vinci, Credit Agricole, Schneider Electric and Sodexo gained 2.5 to 4.7%.

EDF shares soared nearly 15% after the French government offered 12 euros per share to take full control of the company in a 9.7 billion-euros (US$9.85 billion) buyout offer to nationalize Europe's biggest nuclear power operator.

The offer price represented a premium of 53%, to the closing price of EDF shares on July 5, the day before Prime Minister Elisabeth Borne announced the nationalization.

Alstom ended lower by about 2.5%. The train maker warned of challenges from inflation and the shortage in electronic components after reporting an 8% increase in first-quarter sales. The train maker warned of challenges from inflation and the shortage in electronic components after reporting an 8 percent increase in first-quarter sales.

Norwegian telecommunications provider Telenor ASA slumped more than 3% as it reported a second quarter net loss attributable to equity holders of 1.11 billion Norwegian Kroner compared to profit of 2.19 billion Kroner last year.

Eurostat data showed that the region's inflation accelerated as estimated in June to set a fresh record high, driven by higher energy and food prices. Headline consumer price inflation surged to 8.6% from 8.1% in May.

In the U.K., the ILO unemployment rate came in at 3.8% in three months to May, unchanged from three months to April but down by 0.1 percentage points on the quarter. The rate was forecast to rise to 3.9%.

Switzerland's trade surplus decreased in the second quarter, as imports rose and exports fell, data from the Federal Customs Administration showed.

Exports fell 0.5% sequentially in the June quarter, reversing a 1.5% rebound in the March quarter. Meanwhile, imports logged 0.6% growth in the second quarter, after a 1.1% gain in the previous quarter.

The trade surplus shrank to CHF 7.612 billion in the June quarter from CHF 8.376 billion in the previous three-month period.

read more
Sensex, Nifty Marginally Higher In Lackluster Trade

Sensex, Nifty Marginally Higher In Lackluster Trade

Indian shares were marginally higher on Wednesday after top U.S. and Chinese officials agreed on a "framework" to move forward on trade, following two days of high-level talks in London.
RTTNews | 28 นาทีที่ผ่านมา
Australian Market Trims Early Gains In Mid-market

Australian Market Trims Early Gains In Mid-market

The Australian market is trimming its early gains in mid-market moves on Wednesday, but extending the gains in the previous session, with the benchmark S&P/ASX 200 moving above the 8,600 level to fresh all-time highs, following the positive cues from Wall Street overnight, with gains in iron ore miners, energy and financial stocks partially offset by weakness in gold miners and technology stocks.
RTTNews | 1 ชม. 29 นาทีที่ผ่านมา
Asian Markets Track Wall Street Higher

Asian Markets Track Wall Street Higher

Asian stock markets are trading mostly higher on Wednesday, following the broadly positive cues from Wall Street overnight, amid easing trade war tensions after top U.S. and Chinese officials agreed upon a "framework" to move forward on trade, following two days of high-level talks in London. The framework will first need to be approved by leaders in Washington and Beijing.
RTTNews | 1 ชม. 53 นาทีที่ผ่านมา
Sensex, Nifty Set For Muted Start

Sensex, Nifty Set For Muted Start

Indian shares are seen opening little changed on Wednesday despite top U.S. and Chinese officials agreeing on a "framework" to move forward on trade, following two days of high-level talks in London.
RTTNews | 2 ชม. 22 นาทีที่ผ่านมา
Thai Bourse May Extend Tuesday's Gains

Thai Bourse May Extend Tuesday's Gains

The Thai stock market on Tuesday ended the two-day slide in which it had slipped more than 5 points or 0.4 percent. The Stock Exchange of Thailand now rests just beneath the 1,140-point plateau and it may tick higher again on Wednesday.
RTTNews | 2 ชม. 54 นาทีที่ผ่านมา
Japanese Market Modestly Higher

Japanese Market Modestly Higher

The Japanese stock market is trading modestly higher on Wednesday, extending the gains in the previous three sessions, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving above the 38,300 level, with gains across most sectors led by index heavyweights and technology stocks. Financial stocks are a weak spot.
RTTNews | 3 ชม. 19 นาทีที่ผ่านมา
Indonesia Shares May Open To The Upside

Indonesia Shares May Open To The Upside

The Indonesia stock market has moved higher in three straight sessions, gathering almost 190 points or 2.7 percent along the way. The Jakarta Composite Index now rests just above the 7,230-point plateau and it's looking at a firm lead again for Wednesday's trade.
RTTNews | 3 ชม. 24 นาทีที่ผ่านมา
Higher Open Expected For Hong Kong Shares

Higher Open Expected For Hong Kong Shares

The Hong Kong stock market has moved lower in two of three trading days since the end of the three-day winning streak in which it had rallied almost 750 points or 3.5 percent. The Hang Seng Index now sits just above the 24,160-point plateau and it's likely to remain rangebound on Wednesday.
RTTNews | 3 ชม. 39 นาทีที่ผ่านมา