DAX Edges Higher In Cautious Trade

RTTNews | 1193天前
DAX Edges Higher In Cautious Trade

(RTTNews) - German stocks edged up slightly on Tuesday, as investors snapped up bargains following a bruising selloff the previous day on concerns about high inflation and aggressive policy tightening by central banks.

German consumer price inflation accelerated to a record high in May, as initially estimated, driven by higher energy prices, final data from Destatis showed earlier today.

Consumer price inflation rose to 7.9 percent in May from 7.4 percent in April. The rate came in line with the flash estimate published on May 30.

Another report from Destatis showed that wholesale price inflation moderated from a record high in May. Nonetheless, wholesale prices logged a strong double-digit growth of 22.9 percent annually after rising 23.8 percent in April.

The benchmark DAX inched up 0.2 percent 13,450 after losing 2.4 percent in the previous session.

Banks topped the gainers list, with Commerzbank rising 1.3 percent and Deutsche Bank adding 1.1 percent.

Drug discovery and development company Evotec edged up slightly after entering into a collaboration with Janssen Pharmaceutica NV.

Business software group SAP rose half a percent after U.S. firm Oracle Corp exceeded estimates on the top and bottom lines for its fiscal fourth quarter.

read more
Pound Slides As UK Bond Yield Soars

Pound Slides As UK Bond Yield Soars

The British pound weakened against other major currencies in the European session on Friday, as long-dated UK bond yields rise sharply in response to increasing public sector borrowings in August.
RTTNews | 1小时18分钟前
Sensex, Nifty End Lower On Profit Taking

Sensex, Nifty End Lower On Profit Taking

Indian shares ended lower on Friday, with key benchmark indexes Sensex and Nifty snapping a three-day winning streak that was supported by GST reforms, encouraging progress in India-U.S. trade discussions and the Federal Reserve's first rate cut of the year.
RTTNews | 1小时38分钟前
DAX Pares Early Gains, Down Marginally

DAX Pares Early Gains, Down Marginally

German stocks pared early gains and are down in negative territory a little past noon on Friday with investors looking to take some profits after previous session's sharp upmove.
RTTNews | 1小时44分钟前
Pound Slides Against Majors

Pound Slides Against Majors

The British pound weakened against other major currencies in the European session on Friday.
RTTNews | 1小时50分钟前
Antipodean Currencies Fall Amid Fed Cautious Outlook

Antipodean Currencies Fall Amid Fed Cautious Outlook

The antipodean currencies Australia and the New dollar weakened against their major currencies in the Asian session on Friday, as traders continued to digest the U.S. Fed's interest rate cut by a quarter point and its impact on the markets. Fed officials' forecasts suggest two more rate cuts this year but just one next year, although there were significant differences of opinion about the outlook.
RTTNews | 2小时21分钟前
UK Budget Shortfall Overshoots Estimate

UK Budget Shortfall Overshoots Estimate

UK government borrowing increased more than expected and also exceeded the official estimate in August, adding pressure on Chancellor Rachel Reeves ahead of the November budget. Public sector net borrowing increased GBP 3.5 billion from the last year to GBP 18.0 billion in August, the Office for National Statistics said Friday.
RTTNews | 2小时58分钟前