Major European Markets Down In Negative Territory Around Noon

RTTNews | 695天前
Major European Markets Down In Negative Territory Around Noon

(RTTNews) - European stocks are down in negative territory around noon on Tuesday amid lingering concerns about global economic slowdown and uncertainty about the outlook for interest rates.

Markets are also weighed down by recent comments from ECB officials that the fight against inflation is not over yet. With several crucial economic data from the region and Europe due this week, investors appear a bit reluctant to make significant moves.

The pan European Stoxx 600 is down 0.57%. The U.K.'s FTSE 100 is lower by 0.38%, Germany's DAX is down 0.08% and France's CAC 40 is declining 0.55%, while Switzerland's SMI is down 0.72%.

On the economic front, a report from market research group Gfk showed the GfK Consumer Climate Indicator for Germany edged up to -27.8 heading into December 2023 from a downwardly revised -28.3 in November, compared with market forecasts of -27.9.

Still, consumer sentiment remains very weak characterized by uncertainty and concern, with no signs of a sustainable recovery in the coming months, the report says.

According to a report from INSEE, the consumer confidence in France rose to 87 in November, the highest reading since April last year, from 84 in the previous month.

A report from European Central Bank said lending to companies in the Euro area dropped by 0.3% year-on-year in October, marking the first decline since July 2015. Meanwhile, loans to households in the eurozone rose by 0.6% year-on-year in October, the slowest pace since June 2015.

The report from ECB also said M3 money supply in the Euro area dropped for the fourth consecutive month, falling by 1% year-on-year to EUR 16 trillion in October, after a 1.2% decrease in the prior month.

In the UK market, Entain is down more than 4%. Burberry Group, Just Eat Takeaway.com, Pearson, Royal Mail and ITV are down 2 to 3%.

RightMove, Rentokil Initial, Prudential, BT, Diageo, WPP, TUI, Croda International, Segro, Rio Tinto and Antofagasta are also notably lower.

Rolls-Royce Holdings is climbing 6.5%. Rolls-Royce has set out ambitious new profit targets and said it plans to sell it electric aircraft division, aiming to turn around the company.

Smurfit Kappa Group is surging nearly 4%, and Ds Smith gained 1.1%. EasyJet ended higher by 2%, lifted by strong earnings and guidance.

In the German market, Siemens Energy is down 2.6%. Bayer is down nearly 2%, while Porsche, Zalando, BASF, Vonovia, Volkswagen and Merck are lower by 1 to 1.5%.

RWE is surging 3%. Fresenius Medical Care and Infineon are gaining 1.2% and 1%, respectively. Fresenius, Hannover Rueck, Commerzbank, Deutsche Bank, Deutsche Post and E.On are up with modest gains.

In Paris, Pernod Ricard, Kering and LVMH are declining 2.5 to 3%. WorldLine, Alstom, Hermes International, Edenred and L'Oreal are down 1 to 2%.

TotalEnergies, Safran, Orange, Airbus Group, Engie, Air Liquide and Capgemini are gaining 0.5 to 1%.

read more
European Economic News Preview: French Business Confidence Data Due

European Economic News Preview: French Business Confidence Data Due

Business sentiment from France and industrial trends survey from the UK are the top economic news due on Thursday. At 2.45 am ET, France's statistical office INSEE is scheduled to issue business confidence survey data is due. The manufacturing sentiment index is forecast to remain unchanged at 96 in October.
RTTNews | 1小时5分钟前
European Shares Seen Lower With US-China Tensions In Focus

European Shares Seen Lower With US-China Tensions In Focus

European stocks are seen opening a tad lower on Thursday after reports emerged that the Trump administration is considering a plan to curb a dizzying array of software-powered exports to China, stoking fresh trade tensions.
RTTNews | 1小时20分钟前
Yen Falls Against Majors

Yen Falls Against Majors

The Japanese yen weakened against other major currencies in the Asian session on Thursday.
RTTNews | 1小时27分钟前
Sensex, Nifty Open On Buoyant Note Amid Trade Deal Hopes

Sensex, Nifty Open On Buoyant Note Amid Trade Deal Hopes

Indian shares opened on a buoyant note on Thursday after reports suggested that India and the United States are close to finalizing a long-awaited bilateral trade deal that could sharply lower tariffs on Indian exports to about 15-16 percent from the current average of 50 percent.
RTTNews | 2小时29分钟前
Australian Market Swings To Modest Gains In Mid-market

Australian Market Swings To Modest Gains In Mid-market

The Australian market is swinging to modest gains in mid-market moves on Thursday, reversing some of the losses in the previous two sessions, despite the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is staying well above the 9,000 mark, with gains in gold miners and energy stocks partially offset by weakness in iron ore miners, financial and technology stocks.
RTTNews | 3小时25分钟前
Asian Markets Trade Mostly Higher

Asian Markets Trade Mostly Higher

Asian markets are trading mostly higher on Thursday, despite the broadly negative cues from Wall Street overnight, amid optimism about the outlook for interest rates as markets are pricing in another rate cut by the U.S. Fed at its upcoming October 28-29 monetary policy meeting, despite the absence of vital data to gauge the trajectory of the economy. Asian markets closed mostly lower on Wednesday
RTTNews | 3小时34分钟前
Japanese Market Sharply Lower

Japanese Market Sharply Lower

The Japanese market is sharply lower on Thursday, extending the losses in the previous session, following the broadly negative cues from Wall Street overnight. The Nikkei 225 is falling well below the 48,700 level, with weakness across most sectors led by index heavyweights and technology stocks.
RTTNews | 5小时22分钟前