European Stocks Losing Ground Again As Recession Fears Weigh On Sentiment

RTTNews | 890天前
European Stocks Losing Ground Again As Recession Fears Weigh On Sentiment

(RTTNews) - European stocks are sliding on Friday, posting sharp losses for a second straight session, as rising fears of a recession following the latest rate hikes by global central banks and the hawkish tone of the Federal Reserve and a few other banks weigh on sentiment.

Investors are also reacting to the latest batch of economic data from Europe, and closely following Covid - related reports from China.

In the UK market, Segro, Unite Group, Bunzl, Land Securities, British Land Co., ICP, Schrodders, Rolls-Royce Holdings, Persimmon, AstraZeneca Pharma and Experian are down 2 to 4%. Standard Chartered shares are gaining about 1.5%. Natwest Group is up nearly 0.5%.

In the French market, Eurofins Scientific, Unibail Rodamco and Teleperformance are down more than 3%.

Carrefour, Alstom, Saint Gobain, ArcelorMittal, Essilor, Kering, Dassault Systemes and LVMH are lower by 2 to 2.8%.

In the German market, Sartorius, Deutsche Wohnen, Vonovia, Bayer, Brenntage, Merck and Symerise are down 2 to 4.3%.

Infineon Technologies, E.ON, RWE, Fresenius Medical Care, Continental, SAP and HeidelbergCement are also notably lower.

The pan European Stoxx 600 is down 1.1%, The U.K.'s FTSE 100 is drifting down 1.21%, Germany's DAX is lower by 0.77% and France's CAC 40 is declining 1.25%, while Switzerland's SMI is down 0.8%.

In economic news, data from the Office for National Statistics showed UK retail sales declined unexpectedly in November, falling 0.4% from a month earlier, as the rising cost of living and weak consumer sentiment dragged down consumer spending. Sales were expected to rise by 0.3% in November, after increasing by an upwardly revised 0.9% in October.

France's private sector contracted for the second consecutive month, ending the year at the weakest pace in nearly two years, flash survey results from S&P Global showed on Friday.

The composite output index unexpectedly fell to 48.0 in December from 48.7 a month ago. The score was forecast to rise to 48.9.At 48.1, the flash services Purchasing Managers' Index was down from 49.3 in November and also below economists' forecast of 49.1. The manufacturing PMI improved to 48.9 from 48.3. The expected score was 48.2.

Germany's flash composite output index rose to 48.9 in December from 46.3 in November. The index was forecast to rise slightly to 46.5.

The services Purchasing Managers' Index climbed to a 5-month high of 49.0 in December from 46.1 in the prior month. The score was forecast to increase to 46.3. The manufacturing PMI rose to a 3 -month high of 47.4 in December from 46.2 in November. The expected score was 46.3.

Final data from Eurostat showed Eurozone inflation slowed for the first time since the middle of 2021, easing to 10.1% in November from 10.6% in October. However, inflation was slightly above the flash estimate of 10%.

read more
Euro Slips On Trump's Tariff Proposal

Euro Slips On Trump's Tariff Proposal

The euro fell against its major counterparts on Friday, as President Donald Trump proposed tariffs on imports from the European Union starting on June 1.
RTTNews | 1天前
Swiss Market Ends Weak On Tariff Concerns

Swiss Market Ends Weak On Tariff Concerns

After opening on a positive note and staying above the flat line till about an hour past noon, the Switzerland market tumbled on Friday, hurt by U.S. President Donald Trump's threat that imports from the European Union will face 50% tariffs from June 1st.
RTTNews | 1天前
European Stocks Closed Weak On Trump's Fresh Tariff Threat

European Stocks Closed Weak On Trump's Fresh Tariff Threat

European stocks closed on a weak note on Friday despite staging a fairly strong recovery past mid afternoon. After staying modestly higher till noon, the major European markets tumbled after U.S. President Donald Trump threatened to impose 50% tariffs on imports from the European Union from June 1st.
RTTNews | 1天前
TSX Recovers After Early Setback; Materials Stocks Move Higher

TSX Recovers After Early Setback; Materials Stocks Move Higher

After a weak start and a subsequent drop to lower levels, the Canadian market recovered well and is down just marginally a little past noon on Friday. The early setback was due to U.S. President Donald Trump's threat that 50% tariffs will be imposed on imports from the European Union beginning June 1st.
RTTNews | 1天前
U.S. New Home Sales Spike From Downwardly Revised Level In April

U.S. New Home Sales Spike From Downwardly Revised Level In April

The Commerce Department released a report on Friday showing new home sales in the U.S. in the month of April spiked compared to a significantly downwardly revised level in March. The report said new home sales soared by 10.9 percent to an annual rate of 743,000 in April after jumping by 2.6 percent to a downwardly revised rate of 670,000 in March.
RTTNews | 1天前
Germany Logs Stronger Growth On Tariff Threats

Germany Logs Stronger Growth On Tariff Threats

The German economy grew at a stronger-than-estimated pace in the first quarter as higher tariff threats by the U.S. administration led to the frontloading of orders for the country's goods, lifting exports and industrial production. Gross domestic product grew 0.4 percent, which was double the initial estimate of 0.2 percent, a detailed report from Destatis revealed on Friday.
RTTNews | 1天前
Bay Street Likely To Open On Negative Note On Tariff Concerns

Bay Street Likely To Open On Negative Note On Tariff Concerns

Canadian shares look headed for a weak start Friday morning as tariff concerns resurfaced after U.S. President Donald Trump threatened 50% tariffs on EU goods from June 1. Weak oil prices could hurt energy stocks and add to market's downside.
RTTNews | 1天前
FTSE Pares Early Gains, Up Marginally In Cautious Trade

FTSE Pares Early Gains, Up Marginally In Cautious Trade

U.K. stocks moved higher Friday morning, reacting to data showing a notable rise in retail sales, and survey showing strong consumer confidence. However, stocks pared gains subsequently in cautious trade and the market was up just marginally a little past noon.
RTTNews | 1天前