DAX Drifts Lower As Investors React To Results, Geopolitical News

RTTNews | 6 ngày trước

(RTTNews) - The German market is showing weakness on Thursday, as investors remain cautious, reacting to a slew of earnings announcements, and continuing to watch the developments on U.S.-China trade front, as well as news from the geopolitical front.

EU countries today formally adopted a 19th package of sanctions against Russia for its war against Ukraine that includes a ban on Russian liquefied natural gas imports.

"It's a significant package that targets main Russian revenue streams through new energy, financial, and trade measures," the Danish rotating presidency of the EU said.

The benchmark DAX was down 100.32 points or 0.42% at 24,057.45 a little while ago.

SAP is down 2.5%. On Wednesday, the company announced that it posted earnings of EUR2.051 billion, or EUR1.71 per share, in the third quarter of the current financial year, compared with EUR1.441 billion, or EUR1.24 per share in the year-ago quarter.

Infineon Technologies is down 1.8% and Heidelberg Materials is losing about 1.7%. Vonovia, Brenntag, Merck, Siemens, GEA Group, Fresenius Medical Care, Deutsche Post, E.ON, Siemens Healthineers and RWE are down 0.7 to 1.25%.

Siemens Energy is gaining 2.7%. MTU Aero Engines, Rheinmetall, Mercedes-Benz and Fresenius are up 1 to 1.5%.

Commerzbank, Volkswagen, Deutsche Boerse and BMW are up 0.4 to 0.75%.

MTU Aero Engines is rising 1.5% on higher earnings. The aircraft engine manufacturers reported a net income of EUR 250 million, or EUR 4.63 per share, for the third quarter, compared to EUR 211 million, or EUR 3.90 per share, in the year-ago quarter.

The company now anticipates a mid-twenties percentage increase in adjusted EBIT for 2025, hitting the upper end of the previous guidance range, and free cash flow of between 350 million euros and 400 million euros.

Beiersdorf is up nearly 1%. The company's total sales in the third quarter were 2.35 billion euros, a drop of 0.9% from last year, but a growth of 1.7% organically.

Rheinmetall, Mercedes-Benz and Fresenius are up 1 to 1.25%. Commerzbank, Volkswagen, Deutsche Boerse and Deutsche Bank are up with modest gains.

Swiss Market Ends On Weak Note

After spending a few minutes in positive territory at the start, Switzerland stock market's benchmark SMI drifted down and then stayed weak right through the trading session on Wednesday, with investors digesting corporate earnings updates and looking ahead to the Federal Reserve's rate decision due later in the day.

RTTNews | 1h 30phút trước

Fed Announces Widely Expected Decision To Cut Rates By Another Quarter Point

After cutting interest rates for the first time this year in September, the Federal Reserve on Wednesday announced its widely expected decision to lower rates by another quarter point. The Fed said it decided to lower the target range for the federal funds rate by 25 basis points to 3.75 percent to 4.0 percent in support of its dual goals.

RTTNews | 1h 58phút trước

Major European Markets Close On Mixed Note Ahead Of Fed Rate Decision

European stocks turned in a mixed performance on Wednesday with investors reacting to a slew of earnings announcements, and looking ahead to the monetary policy announcement from the Federal Reserve later in the day, and the upcoming meeting between U.S. President Donald Trump and his Chinese counterpart Xi Jinping. Investors also looked ahead to the ECB's policy announcement due tomorrow.

RTTNews | 1h 59phút trước

Canadian Market Drifts Lower After BoC Rate Decision; Energy, Materials Shares Rise

The Canadian market is down in negative territory around noon on Wednesday, weighed down by losses in consumer, healthcare, industrials and real estate sectors. Investors are digesting the Bank of Canada's rate cut decision, and looking ahead to the Federal Reserve's interest rate announcement due later in the day.

RTTNews | 4h 8phút trước

U.S. Pending Home Sales Unexpectedly Unchanged In September

After reporting a sharp increase by pending home sales in the U.S. in the previous month, the National Association of Realtors released a report on Wednesday showing pending home sales unexpectedly came in flat in the month of September. NAR said its pending homes sales index was unchanged at 74.8 in September after surging by 4.2 percent in August.

RTTNews | 6h 11phút trước

Bank Of Canada Cuts Interest Rates By Another Quarter Point

The Bank of Canada on Wednesday announced its widely expected decision to lower interest rates once again, cutting rates by a quarter point for the second consecutive meeting. The Canadian central bank said it reduced its target for the overnight rate by 25 basis points to 2.25 percent, with the Bank Rate at 2.5 percent and the deposit rate at 2.20 percent.

RTTNews | 6h 13phút trước

Bay Street Likely To Open Higher; BoC, Fed Rate Announcements Eyed

Canadian stocks are likely to open on a positive note on Wednesday, tracking firm oil and metal prices. Expectations of interest rate cuts by the Bank of Canada and the Federal Reserve may also contribute to a steady open on Bay Street.

RTTNews | 7h 51phút trước

FTSE 100 Advances As Miners, Pharma Stocks Rally

The U.K. market is up firmly in positive territory on Wednesday, led by gains in mining and pharmaceutical sectors, thanks to a rebound in metal prices and stronger than expected earnings from drug major GSK.

RTTNews | 8h 29phút trước

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