DAX Slips Into Red After Tuesday's Rally
(RTTNews) - German stocks opened a tad lower on Wednesday after seeing a relief rally the previous day as concerns over the collapse of SVB and Signature Bank eased.
The benchmark DAX was down 55 points, or 0.4 percent, at 15,177 after climbing 1.8 percent in the previous session.
BMW rose about 1 percent. The automaker said it expects higher margins and deliveries in 2023.
Energy giant E.ON jumped 3.4 percent after reporting a rise in FY22 adjusted profit and sales.
Specialty chemicals group Lanxess slumped 4 percent after its slipped to a fourth-quarter loss of 21 million euros versus a profit of 29 million euros last year.
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TSX Remains Positive Despite Coming Off Early Highs
The Canadian market has pared most of its gains Wednesday afternoon, with investors largely reacting to earnings updates, and monitoring geopolitical developments.
Despite concerns about fresh tariffs, the market is positive as news about U.S. and Ukraine agreeing on a minerals deal is aiding sentiment.
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6h 26min ago
Swiss Market Ends Marginally Up
The Switzerland market pared some intraday gains and ended marginally up on Wednesday as stocks stayed a bit sluggish past mid afternoon.
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7h 37min ago
European Stocks Close On Firm Note On Results
European stocks closed higher on Wednesday, reacting to some strong earnings updates, and slightly easing geopolitical concerns following Ukraine and the U.S. agreeing on a minerals deal.
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8h 8min ago
U.S. New Home Sales Plunge Much More Than Expected In January
A report released by the Commerce Department on Wednesday showed a substantial pullback by new home sales in the U.S. in the month of January. The Commerce Department said new home sales plunged by 10.5 percent to an annual rate of 657,000 in January after spiking by 8.1 percent to an upwardly revised rate of 734,000 in December.
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10h 24min ago
Bay Street Likely To Open On Positive Note
Canadian shares are likely to open higher Wednesday morning, tracking positive global cues, and encouraging earnings from National Bank of Canada.
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12h 58min ago
German Consumer Confidence To Continue Negative Trend
Consumer sentiment in Germany is set to continue its negative trend as higher prices, economic and political uncertainty weigh on households' income expectations and their willingness to buy, a closely watched survey showed on Wednesday. The forward-looking consumer sentiment index unexpectedly fell to -24.7 in March from -22.6 in February, a survey jointly published GfK and NIM revealed.
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13h 32min ago
Thailand Cuts Key Interest Rate By 25 Bps
The Thai central bank reduced its key interest rate on Wednesday to address the increasing downside risks to the economy amid persistently low inflation. The Monetary Policy Committee of Bank of Thailand voted 6-1 to cut the policy rate by 25 basis points to 2.00 percent from 2.25 percent. One rate-setter preferred to keep the rate unchanged.
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14h 13min ago
Hong Kong Budget Focuses On Spending Cuts, Promoting AI
Hong Kong Financial Secretary Paul Chan unveiled the budget on Wednesday that largely focused on government spending cuts with minimal impact on people's livelihood and underscored the importance of artificial intelligence to enhance competitive edge. The government estimated a consolidated deficit of HK$87.2 billion for 2024-25, which was smaller than the HK$100 billion previous projection.
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14h 41min ago
