DAX Extends Losses As Investors Weigh Trump Win
(RTTNews) - German stocks edged lower on Wednesday as Donald Trump's pick of Senator JD Vance as his running mate hardened the Republican party's shift toward trade protectionism.
Trump is promising to escalate the trade war with 60 percent tariffs on goods from China and a 10 percent global tariff.
The benchmark DAX dipped 26 points, or 0.3 percent, to 18,472 after losing 0.4 percent in the previous session.
Allianz dropped half a percent after the insurer agreed to buy a majority stake in Singapore's Income Insurance for about $1.6 billion.
Adidas jumped nearly 4 percent. The sportswear maker raised its full-year guidance after reporting a 11 percent increase in revenue during second quarterly of FY24.
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Pound Falls Against Majors
The British pound weakened against other major currencies in the European session on Wednesday.
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Euro Rises As German Economy Expands Unexpectedly
The euro strengthened against other major currencies in the European session on Wednesday, after the German economy expanded unexpected in the third quarter, underpinned by household and government consumption.
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Sensex, Nifty End Lower On Weak Global Cues
Indian shares ended Wednesday's session lower, with mixed earnings and caution ahead of next week's U.S. presidential election and Federal Reserve rate decision keeping investors anxious.
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Euro Rises Against Majors
The euro strengthened against other major currencies in the European session on Wednesday.
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European Shares Decline Ahead Of Key GDP Data
European stocks traded lower on Wednesday as investors assessed a batch of mixed earnings and awaited regional growth data as well as the U.K. government's budget for direction.
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FTSE 100 Slides Ahead Of Budget
U.K. stocks traded lower on Wednesday ahead of the first Labour party budget in 14 years.
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CAC 40 Falls As Earnings Dampen Mood
French stocks fell sharply on Wednesday, with mixed earnings from U.S. big technology companies and uncertainty around the upcoming U.S. presidential election weighing on markets.
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Spain GDP Expands More Than Forecast
The Spanish economy logged a faster-than-expected growth in the third quarter on domestic demand, advance estimates from the statistical office INE showed on Wednesday.
Gross domestic product grew 0.8 percent on a sequential basis, the same rate of growth as seen in the second quarter. Growth was forecast to ease to 0.6 percent.
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