European Shares Extend Losses For Fifth Day

RTTNews | 974天前
European Shares Extend Losses For Fifth Day

(RTTNews) - European stocks fell for a fifth consecutive session on Tuesday as investors fretted about the impact of higher interest rates on corporate profits.

The U.S. efforts to hobble China's semiconductor industry, an escalating conflict in Ukraine and China's COVID woes also added to worries over a possible global recession.

The leaders of the G7 group of nations will hold a virtual meeting today to discuss offering further support to Ukraine after Moscow launched retaliatory missile strikes that killed 19 people.

German government bond yields held near 11-year highs after reports Chancellor Olaf Scholz was prepared to back European Union-wide joint debt issuance to help the bloc's members tackle the energy crisis.

Meanwhile, to restore orderly market conditions, the Bank of England today expanded its emergency bond purchase program to include inflation-linked debt.

The pan European Stoxx 600 was down 0.9 percent at 386.63 after declining 0.4 percent on Monday.

The German DAX dropped 0.8 percent, France's CAC 40 index shed 0.7 percent and the U.K.'s FTSE 100 was down 1.3 percent.

Miners Anglo American, Antofagasta and Glencore lost 3-4 percent in London as commodity prices fell on demand worries due to a flare-up in China COVID-19 cases. Oil & gas firm BP Plc declined 3 percent and Shell gave up 2.1 percent.

Greencore shed 1.6 percent despite the convenience food manufacturer posting improved annual revenue and profits.

Ferrexpo, an iron ore pellet producer with operations in central Ukraine, plunged 10 percent.

The company said that production has been temporarily suspended at its operations due to damages to power supply caused by the Russian missile strikes across Ukraine on Monday.

Sanofi shares rose about 1 percent in Paris. Regeneron Pharmaceuticals Inc. and the French drug maker have presented late-breaking positive results from a Phase 3 trial evaluating the investigational use of Dupixent (dupilumab) in children aged 1 to 11 years with active eosinophilic esophagitis.

Givaudan AG, a Swiss maker of flavors, fragrances, and cosmetic ingredients, plummeted 7.4 percent after sales growth slowed in the third quarter.

On the data front, the U.K. jobless rate fell to 3.5 percent in three months to August from 3.6 percent in three months to July, the Office for National Statistics reported.

This was the lowest since December to February 1974. The unemployment rate was forecast to remain unchanged at 3.6 percent.

read more
Euro Rises Amid Risk-on Mood

Euro Rises Amid Risk-on Mood

The euro strengthened against other major currencies in the European session on Wednesday amid increased risk-on mood, as investors monitored the latest updates from Sino-U.S. talks and awaited crucial U.S. inflation data for direction. After two days of discussions in London, U.S. and Chinese officials have agreed on a limited framework to put their trade truce back on track.
RTTNews | 44分钟前
Euro Rises Against Majors

Euro Rises Against Majors

The euro strengthened against other major currencies in the European session on Wednesday.
RTTNews | 53分钟前
Sensex, Nifty End Modestly Higher; IT Stocks Lead Gains

Sensex, Nifty End Modestly Higher; IT Stocks Lead Gains

Indian shares eked out modest gains on Wednesday as markets assessed the outcome of high-level U.S.-China talks and awaited key U.S. inflation readings for additional clues on the Federal Reserve's rate trajectory.
RTTNews | 54分钟前
Tesla Shares Gain As Musk Sets Robotaxi Service Launch Tentatively On June 22

Tesla Shares Gain As Musk Sets Robotaxi Service Launch Tentatively On June 22

Tesla Inc. shares were gaining around 2.4 percent in the pre-market activity on the Nasdaq following a 6 percent jump on Tuesday's regular trading, after the founder and CEO Elon Musk confirmed that the much awaited robotaxi service is tentatively set to launch in Austin, Texas, on June 22. In a post on his social media platform X, Musk said, "Tentatively, June 22. We are being super paranoid...
RTTNews | 57分钟前
DAX Up Marginally In Cautious Trade As Traders Await U.S. Inflation Data

DAX Up Marginally In Cautious Trade As Traders Await U.S. Inflation Data

German stocks advanced Wednesday morning, reacting positively to the news about top U.S. and Chinese officials reaching a framework to implement the Geneva consensus. If approved, the Sino-U.S. deal will remove some restrictions on China's rare earth exports and unwind a few recent U.S. export bans.
RTTNews | 1小时5分钟前
Asian Shares Climb On Trade Talk Optimism

Asian Shares Climb On Trade Talk Optimism

Asian stocks advanced on Wednesday after top U.S. and Chinese officials said they have reached a framework to implement the Geneva consensus, following two days of discussions in London.
RTTNews | 2小时45分钟前
Commodity Currencies Slide Amid Crude Oil Price Drop

Commodity Currencies Slide Amid Crude Oil Price Drop

The commodity currencies such as the Australia, the New Zealand and the Canadian dollars weakened against their major currencies in the Asian session on Wednesday amid crude oil price drop, as markets awaited the outcome of US-China trade talks, which have yet to be approved by President Donald Trump, with China's poor oil demand and OPEC+ output increases weighing on the market.
RTTNews | 3小时12分钟前