European Shares Struggle For Direction Amid Lingering Recession Worries

RTTNews | 943天前

(RTTNews) - European stocks struggled for direction on Wednesday as investors awaited corporate earnings from several U.S. and European companies for directional cues.

Mass layoffs by tech companies, signs of slowing global growth and weak growth outlook from prominent companies fueled fears of a possible recession.

The pan European STOXX 600 was down 0.1 percent at 452.76 after closing 0.2 percent lower on Tuesday.

The German DAX and France's CAC 40 index were marginally lower while the U.K.'s FTSE 100 traded flat with a positive bias.

Swiss drug contract manufacturer Lonza edged down slightly despite delivering strong 2022 performance and announcing a share buyback.

British insurer Aviva rallied 2.7 percent after reiterating its guidance for dividends and capital returns.

Airline EasyJet soared 10 percent as it forecast a return to an annual profit after three years of pandemic losses. Wizz Air shares traded up more than 6 percent.

Russia-focused gold miner Polymetal International slumped 4.6 percent after unveiling its production results for Q4 and FY 2022.

Fresnillo dropped 1.4 percent despite reporting a solid operating result in the fourth quarter.

Alstom SA was up nearly 1 percent in Paris. The rolling stock maker reported that its sales for the third quarter 2022/23 rose to 4.22 billion euros from 3.92 billion euros in third quarter 2021/22.

Jungheinrich AG, a German manufacturer of advanced materials handling equipment, rallied 4.4 percent after announcing that it has signed a deal to buy Indiana-based Storage Solutions group for approximately $375 million.

In economic releases, official data showed that U.K. producer price inflation fell to its lowest rate in almost a year last month.

The corresponding index rose 16.5 percent in the year to December 2022, down from 18 percent in the year to November, and 20.2 percent in the year to October.

Separately, the IFO data from Germany showed that business sentiment improved modestly to hit a seven-month high in January.

Japan Stock Market May Spin Its Wheels On Tuesday

The Japan stock market has moved higher in back-to-back sessions, gathering almost 200 points or 0.5 percent along the way. The Nikkei 225 now rests just above the 42,800-point plateau although it may be stuck in neutral on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water. The Nikkei finished modestly higher on Monday following gains from the financial shares, weakness from the technology stocks and a mixed picture from the automobile companies. For the day, the index advanced 174.53 points or 0.41 percent to finish at 42,807.82 after trading between 42,681.37 and 43,201.42. Among the actives, Nissan Motor accelerated 3.15 percent, while Mazda Motor shed 0.55 percent, Toyota Motor eased 0.10 percent, Honda Motor climbed 1.01 percent, Softbank Group soared 3.53 percent, Mitsubishi UFJ Financial dipped 0.11 percent, Mizuho Financial collected 0.79 percent, Sumitomo Mitsui Financial added 0.41 percent, Mitsubishi Electric rose 0.35 percent, Sony Group slumped 1.11 percent, Panasonic Holdings lost 0.49 percent and Hitachi fell 0.24 percent.

RTTNews | 12分钟前

KOSPI May Run Out Of Steam On Tuesday

The South Korea stock market has tracked higher in three straight sessions, collecting almost 80 points or 2.6 percent along the way. The KOSPI now sits just shy of the 3,210-point plateau although it's due for consolidation on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | 27分钟前

RBA Minutes On Tap For Tuesday

The Reserve Bank of Australia will on Tuesday release the minutes from its August 12 monetary policy meeting, highlighting a modest day for Asia-Pacific economic activity.

RTTNews | 1小时27分钟前

U.S. Dollar Climbs Against Majors

The U.S. dollar strengthened against its major counterparts in the New York session on Monday.

RTTNews | 2小时39分钟前

Swiss Market Ends Moderately Lower

After a weak start and a subsequent long spell in negative territory, the Switzerland market briefly moved slightly above the flat line in late afternoon trades on Monday, but quickly tumbled again to eventually settle on a weak note.

RTTNews | 5小时25分钟前

European Markets Close Weak After Cautious Session

European stocks closed on a weak note on Monday after a cautious session as investors awaited key inflation data from major economies in the region, and looked for more details about U.S. - EU trade deal.

RTTNews | 5小时46分钟前

Canadian Market Down More Than 0.5% On Profit Taking

After opening slightly down, the Canadian market slipped deeper into the red on Monday, weighed down by losses in healthcare, consumer staples, utilities and materials sectors.

RTTNews | 6小时26分钟前

U.S. New Home Sales Pull Back From Upwardly Revised Level In July

New home sales in the U.S. decreased from an upwardly revised level in the month of July, according to a report released by the Commerce Department on Monday. The Commerce Department said new home sales fell by 0.6 percent to an annual rate of 652,000 in July after surging by 4.1 percent to an upwardly revised rate of 656,000 in June.

RTTNews | 8小时10分钟前

EURUSD	1.16151	GBPUSD	1.34518	AUDUSD	0.64807
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