DAX Edges Higher In Cautious Trade
(RTTNews) - German stocks edged up slightly on Monday after a brutal sell-off last week on concerns over rising inflation and slowing global growth.
German producer price inflation rose to a fresh record high in May, driven by energy prices, data from Destatis showed earlier today.
Producer prices logged a double-digit growth of 33.6 percent year-on-year in May, following April's 33.5 percent increase. The rate was forecast to grow again by 33.5 percent.
On a monthly basis, producer prices gained 1.6 percent after rising 2.8 percent in April. Economists had forecast prices to climb 1.5 percent.
The benchmark DAX rose 47 points, or 0.4 percent, to 13,173 after rising 0.7 percent on Friday.
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Dollar Drifts Lower Against Major Counterparts
The U.S. Dollar shed ground against its major counterparts on bets the Federal Reserve will cut interest rates in the first quarter.
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TSX Ends On Firm Note Again, Gains 1.1% In Week
The Canadian market closed on a firm note on Friday, lifted by gains in real estate, communications and technology stocks.
The benchmark S&P/TSX Composite Index ended the session with a gain of 175.51 points or 0.7% at 25,073.54. The index gained 1.12% in the holiday-shortened week.
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Canadian Market Remains Positive, Looks On Course For Another Firm Close
The Canadian market looks set to end on a firm note for the third consecutive session, with stocks from communications, real estate and industrial sectors recording strong gains.
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Swiss Market Ends Modestly Higher
After a positive start, Swiss stocks retreated and moved along the flat line right till the end of the day's trading session on Friday, as investors, returning to the market after New Year holidays, refrained from making significant moves.
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European Stocks Close Weak After Cautious Session
European stocks closed weak on Friday, retreating after scoring strong gains on the first session of Year 2024. Losses in automobile, luxury and travel sectors weighed on the markets on a day when investors largely stayed cautious, looking for directional clues.
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Australian Dollar Drops Against Most Majors
The Australian dollar fell against its most major counterparts in the New York session on Friday.
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Canadian Dollar Falls Against Majors
The Canadian dollar weakened against its major counterparts in the New York session on Friday.
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U.S. Manufacturing Index Indicates Modestly Slower Contraction In December
Manufacturing activity in the U.S. contracted at a slower rate in the month of December, according to a report released by the Institute for Supply Management on Friday. The ISM said its manufacturing PMI inched up to 49.3 in December from 48.4 in November, although a reading below 50 still indicates contraction. Economists had expected the index to come in unchanged.
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