DAX Rises On Rate Cut Hopes, Adidas' Upbeat Results

RTTNews | 11 일 전
DAX Rises On Rate Cut Hopes, Adidas' Upbeat Results

(RTTNews) - Despite lingering concerns about potential trade tariffs, German stocks are up firmly in positive territory Wednesday morning, reacting to upbeat earnings updates from Adidas, and U.S. President Donald Trump's announcement of a big investment in AI infrastructure in the United States.

Optimism about an interest rate cut by the European Central Bank next week is also supporting the market. In an interview with Bloomberg TV's Francine Lacqua in Davos, Switzerland today, ECB policymaker Klaas Knot backed the idea of near-term cuts.

Knot said that investor bets for interest-rate cuts in January and March are reasonable, but any commitment beyond is difficult due to heightened global uncertainty.

The benchmark DAX was up 225.55 points or 1.08% at 21,267.07, slightly off a new record high of 21,273.93 touched a little while ago.

Adidas is gaining nearly 6.5% after reporting a 24% jump in revenues to €5,965 million in the fourth quarter of 2024, up from €4,812 million last year. The company's operating profit reached €57 million in the quarter, compared to operating loss of €377 million last year.

Siemens Energy, which fell sharply in the previous session following rating downgrades, is gaining 6.8%. Munich RE is climbing 3.2%, while Hannover Rueck, Rheinmetall, SAP, Siemens, Sartorius, Daimler Truck Holding, BMW, Puma and Siemens Healthineers are up 1 to 2.3%.

Porsche AG shares are down 2.3%. Deutsche Telekom, Commerzbank, Infineon, Deutsche Post, Bayer and RWE are down 0.3 to 1%.

read more
TSX Tumbles More Than 1% As Stocks Fall On Tariff Concerns

TSX Tumbles More Than 1% As Stocks Fall On Tariff Concerns

After posting a record close the previous day, the Canadian market opened marginally up and edged higher Friday morning, but kept losing ground as the day progressed with stocks from across several sectors reeling under selling pressure as Trump administration confirmed that it would begin imposing 25% tariffs on imports from Canada from February 1.
RTTNews | 1 일 전
German Inflation Unexpectedly Eases In January

German Inflation Unexpectedly Eases In January

Consumer price pressures in Germany slowed unexpected at the start of the year amid a sharp slowdown in food inflation, offering some relief for the European Central Bank that lowered interest rates a day earlier and plan to continue easing to boost the single currency economy that came to a standstill in the final three months of 2024.
RTTNews | 1 일 전
Swiss Markets Ends Slightly Weak

Swiss Markets Ends Slightly Weak

The Swiss market edged down marginally on Friday with stocks paring gains in late afternoon trade as investors chose to take some profits following a long winning streak. Data showing a stronger than expected jump in the nation's retail sales aided sentiment.
RTTNews | 1 일 전
Major European Markets Close Slightly Higher

Major European Markets Close Slightly Higher

European stocks saw some profit taking in late afternoon trades on Friday, but the major markets in the region still managed to close slightly up. Investors assessed recent economic data, earnings news, and monetary policy announcements of the Federal Reserve and the European Central Bank.
RTTNews | 1 일 전
Canadian Market Down Marginally In Cautious Trade; Tech Stocks Move Higher

Canadian Market Down Marginally In Cautious Trade; Tech Stocks Move Higher

The Canadian market is up in positive territory a little past noon on Friday with the benchmark S&P/TSX Composite Index hovering near record high, thanks largely to strong buying in the technology sector after encouraging earnings updates from big name U.S. companies such as Apple Inc. and Meta Platforms.
RTTNews | 1 일 전
U.S. Dollar Advances Amid Trump's Tariff Threats

U.S. Dollar Advances Amid Trump's Tariff Threats

The U.S. dollar firmed against its most major counterparts in the New York session on Friday amid concerns about President Donald Trump's renewed pledge to slap 25 percent tariffs on imports from Canada and Mexico on February 1.
RTTNews | 1 일 전
ECB Surveys Show Rising Eurozone Inflation Expectations

ECB Surveys Show Rising Eurozone Inflation Expectations

Euro area consumers' inflation expectations for the next 12 months increased for a third straight month in December, while professional forecasters revised up the projections for this year and next, separate surveys by the European Central Bank showed on Friday.
RTTNews | 1 일 전
Chicago Business Barometer Increases But Still Indicates Contraction

Chicago Business Barometer Increases But Still Indicates Contraction

MNI Indicators released a report on Friday showing its reading on Chicago-area business activity increased in the month of January but continued to indicate contraction. The report said the Chicago business barometer rose to 39.5 in January from 36.9 in December, although a reading below 50 still indicates contraction. Economists had expected the index to climb to 40.0.
RTTNews | 1 일 전