European Stocks Close Broadly Lower As U.S. Inflation Data Fuels Rate Concerns

RTTNews | 594天前
European Stocks Close Broadly Lower As U.S. Inflation Data Fuels Rate Concerns

(RTTNews) - European stocks closed broadly lower on Thursday as data showing a bigger than expected increase in U.S. consumer prices in the month of September raised concerns about interest rates.

Data showing a growth in UK's gross domestic product aided sentiment, and limited markets' downside.

The pan European Stoxx 600 edged up 0.1%. The U.K.'s FTSE 100 climbed 0.32%, while Germany's DAX and France's CAC 40 drifted down 0.23% and 0.37%, respectively. Switzerland's SMI ended lower by 0.53%.

Among other markets in Europe, Austria, Belgium, Finland, Iceland, Ireland, Poland, Portugal, Russia, Spain, Switzerland and Turkiye closed weak.

Denmark, Greece, Netherlands, Norway and Sweden ended higher.

In the UK market, EasyJet ended nearly 7% down despite the budget airline posting record fourth-quarter profit.

Taylor Wimpey ended lower by about 5%. Fresnillo, Barclays, Persimmon, Croda International, Antofagasta and TUI lost 2 to 3.1%.

BP climbed more than 3%. Hikma Pharmaceuticals, The Sage Group, CRH, Ferguson, Melrose Industries, AstraZeneca, BAE Systems, Royal Dutch Shell and Experian gained 1 to 2%.

In the German market, RWE, E.ON, Zalando, Puma, Siemens Energy, Vonvoia, Continental, Bayer, Siemens, Covestro, MTU Aero Engines and Commerzbank declined 1 to 2%.

Infineon, Hannover Rueck, HeidelbergCement, Fresenius, Munich RE and SAP posted moderate gains.

In Paris, ArcelorMittal dropped more than 4%. Kering ended lower by 2.6%. LVMH, Hermes International, BNP Paribas, WorldLine, Bouygues, Saint Gobain, Alstom and L'Oreal also ended notably lower.

Publicis Groupe surged 4.7%. After reporting improved revenue for Q3, the public relations and adverting company now expects its organic growth to be in the range of 5.5% to 6% for full year 2023 against its previous expectation for 5%.

Thales gained about 2.7% and Edenred climbed nearly 1.5%.

Gross domestic product grew 0.2% in August from July, when the economy contracted by revised 0.6%, the Office for National Statistics reported - matching expectations.

On a yearly basis, monthly GDP advanced 0.5%, in line with estimate. This was faster than the 0.3% growth registered in July.

UK housing market activity remained subdued in September with indicators on demand, sales, instructions and prices all in negative territory, the Royal Institution of Chartered Surveyors, or RICS, said on Thursday. The new buyer enquiries came in at -39% in September.

The U.S. Labor Department said its consumer price index climbed by 0.4% in September after increasing by 0.6% in August. Economists had expected consumer prices to rise by 0.3%.

The report also said the annual rate of consumer price growth was unchanged at 3.7%, while the annual rate of core consumer price growth slowed to 4.1% in September from 4.3% in August.

The data has contributed to a rebound by treasury yields, which are regaining ground following a two-day pullback but remain well off their recent sixteen years.

read more
CAC 40 Moderately Higher Amid Easing Trade Tensions

CAC 40 Moderately Higher Amid Easing Trade Tensions

Amid easing trade war concerns following a U.S. court ruling against the sweeping tariffs announced by President Donald Trump, French stocks are moving higher on Thursday, recovering well after previous session's weakness.
RTTNews | 1小时16分钟前
DAX Modestly Higher As Trade Tensions Ease After U.S. Court Ruling

DAX Modestly Higher As Trade Tensions Ease After U.S. Court Ruling

German stocks are up in positive territory on Thursday amid easing trade tensions following a U.S. Federal Court ruling that President Donald Trump had overstepped his authority by imposing across-the-board duties on imports from U.S. trade partners.
RTTNews | 1小时34分钟前
Sensex, Nifty End Lackluster Session Modestly Higher

Sensex, Nifty End Lackluster Session Modestly Higher

Indian shares ended higher on Thursday, recovering from losses earlier in the session due to concerns over liquidity drain amid a wave of block deals initiated by promoters or private equity funds in recent sessions.
RTTNews | 1小时45分钟前
NVIDIA Stock Gains On Q1 Results; Sees $8 Bln China Impact

NVIDIA Stock Gains On Q1 Results; Sees $8 Bln China Impact

Shares of Nvidia Corp. gained around 5 percent in the extended trading on Wednesday and is currently up around 6 percent in the pre-market activity on the Nasdaq, after the artificial intelligence chipmaker reported significantly higher earnings in its first quarter, despite an expected $4.5 billion charge associated with H20 AI chip export barring to China. Revenues were 69 percent higher...
RTTNews | 2小时17分钟前
Yen Falls As U.S. Court Blocks Trump's Tariffs

Yen Falls As U.S. Court Blocks Trump's Tariffs

The Japanese yen weakened against other major currencies in the Asian session on Thursday, after a U.S. federal court blocked U.S. President Donald Trump's attempt to impose sweeping reciprocal tariffs against its global trading partners under emergency powers, saying he exceeded his authority.
RTTNews | 5小时35分钟前