DAX Rallies As Germany Faces Snap Election

RTTNews | 17 दिनों पहले
DAX Rallies As Germany Faces Snap Election

(RTTNews) - German stocks rose sharply on Thursday as investors digested the ramifications of political upheaval in the country.

The German coalition government collapsed today as Chancellor Olaf Scholz sacked his finance minister in a late-night move after a marathon of crisis meetings.

The three remaining ministers of the Free Democrats also resigned later at night, paving the way for a snap election.

Meanwhile, investors shrugged off data that showed Germany's industrial production declined more than expected in September.

Industrial production posted a monthly fall of 2.5 percent, partially offsetting the 2.6 percent increase in August, Destatis reported.

On a yearly basis, industrial production was down 4.6 percent in September after a 3.0 percent drop in the previous month.

The zigzagging of industrial data suggests that German industry has not yet entered a period of full bottoming out, ING economist Carsten Brzeski said.

The benchmark DAX was up 219 points, or 1.2 percent, at 19,257 after losing 1.1 percent in the previous session.

Banks traded higher, with Commerzbank and Deutsche Bank rising over 1 percent each.

SGL Carbon, a manufacturer of carbon-based products, rallied 2 percent despite posting lower profit and revenue for the third quarter.

read more
TSX Closes At New Record High

TSX Closes At New Record High

The Canadian market closed modestly higher on Friday, lifted by gains in industrials and energy stocks. Positive reaction to the nation's retails data and the recent announcement of a mini stimulus package contributed to the upside.
RTTNews | 1 दिन पहले
Swiss Stocks Close On Strong Note

Swiss Stocks Close On Strong Note

Swiss stocks closed on a bright note on Friday, in line with markets across Europe, as weak manufacturing and services sector data from major European countries such as the U.K., Germany and France raised hopes that central banks will cut interest rates further to help revive growth.
RTTNews | 2 दिनों पहले
Canadian Market Modestly Higher In Cautious Trade

Canadian Market Modestly Higher In Cautious Trade

The Canadian market is modestly higher a little past noon on Friday with stocks turning in a mixed performance in cautious trade. Investors are digesting the latest economic data from Canada and the U.S., while continuing to follow the developments on the geopolitical front.
RTTNews | 2 दिनों पहले
U.S. Consumer Sentiment Improves Less Than Previously Estimated In November

U.S. Consumer Sentiment Improves Less Than Previously Estimated In November

Consumer sentiment in the U.S. improved less than previously estimated in the month of November, according to revised data released by the University of Michigan on Friday. The University of Michigan said its consumer sentiment index for November was downwardly revised to 71.8 from the preliminary reading of 73.0.
RTTNews | 2 दिनों पहले
Bay Street Seen Opening Higher

Bay Street Seen Opening Higher

The Canadian market may open higher on Friday, with materials shares finding some support on firm metal prices. Investors will also be reacting to Canadian retails sales data and U.S. producer prices report.
RTTNews | 2 दिनों पहले
Regulator CFPB To Consider Apple Pay, Other Digital Payment Apps As Banks

Regulator CFPB To Consider Apple Pay, Other Digital Payment Apps As Banks

The US Consumer Financial Protection Bureau or CFPB has finalized a rule to supervise Apple Inc. and other major technology firms that offer digital funds transfer and payment wallet apps, and treat them more like banks. In a statement, the US consumer watchdog said the rule on federal oversight of popular digital payment apps by the largest non-bank companies is aimed to protect personal data...
RTTNews | 2 दिनों पहले