DAX Edges Higher In Cautious Trade Ahead Of US Jobs Data
(RTTNews) - German stocks were seeing modest gains in cautious trade on Friday ahead of the release of U.S. non-farm payroll report later in the day and next week's U.S. presidential election.
The benchmark DAX was up 60 points, or 0.3 percent, at 19,138 after losing 0.9 percent in the previous session.
In corporate news, Siemens rose about 1 percent on reports that the conglomerate is eyeing more acquisitions after its $10.6 billion purchase of U.S. industrial software company Altair.
Shares of Fielmann Group AG, an eyewear company, slumped 7.6 percent despite posting a rise in sales for the nine-month period and reaffirming its annual sales outlook.
Technology stocks such as SAP and Infineon Technologies were little changed.
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German Business Confidence Weakens In November
German business sentiment softened in November on a notable deterioration in current conditions as economic struggles deepened, survey results from ifo Institute showed on Monday. The business climate index fell to 85.7 in November from 86.5 in the previous month. The score was expected to fall moderately to 86.0. At 84.3, the current situation index dropped to the lowest since July 2020.
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5h 18min ago
European Shares Gain On Rate Cut Hopes
European stocks traded higher at two-week highs on Monday after Donald Trump nominated Scott Bessent, a billionaire hedge fund manager and an advocate for deficit reduction, to lead the U.S. Treasury Department.
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5h 40min ago
FTSE 100 Slightly Higher In Cautious Trade
U.K. stocks were slightly higher on Monday despite an ongoing row about tax rises by chancellor Rachel Reeves.
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5h 57min ago
CAC 40 Gains After Bessent's Appointment As US Treasury Secretary
French stocks traded higher on Monday after Donald Trump nominated Scott Bessent, a billionaire hedge fund manager and an advocate for deficit reduction, to lead the U.S. Treasury Department.
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6h 10min ago
DAX Rises Ahead Of Busy Data Week; Commerzbank Shares Slump 6%
German stocks opened higher on Monday ahead of the release of key inflation readings from the U.S. and Eurozone, U.S. GDP data and the minutes from the last FOMC meeting due this week.
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6h 20min ago
Asian Shares Mostly Higher On Bessent Pick For US Treasury
Most Asian stocks rose on Monday, the dollar dipped, and bond yields declined after U.S. President-elect Donald Trump has chosen wealthy hedge fund manager Scott Bessent to be his Treasury secretary.
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6h 44min ago
China Keeps Medium-Term Lending Facility Rate Unchanged
China's central bank left the rate on medium-term lending facility unchanged on Monday after cutting the rate in September. The People's Bank of China maintained the MLF rate at 2.0 percent. The bank offered CNY 900 billion via one-year policy loans. Following the operation, the outstanding balance of the MLF was CNY 6.239 trillion. Previously, the bank had reduced the rate on MLF by 30 basis.
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7h 24min ago
U.S. Dollar Falls Amid Risk Appetite
The U.S. dollar weakened against other major currencies in the Asian session on Monday amid risk appetite, following the broadly positive cues from Wall Street on Friday, boosted by strong gains in markets in Japan, Indonesia and South Korea as traders remain optimistic about a 25-basis point rate cut by the U.S. Fed in December after data showing consumer sentiment in the U.S. improved less than expected in November.
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7h 57min ago
