European Shares Inch Higher On China Stimulus

RTTNews | 110 일 전

(RTTNews) - European stocks traded higher on Tuesday after China unleashed a swath of stimulus measures including cuts to its benchmark interest rate to put the economy out of its deflationary funk and back towards the government's growth target.

Markets gave up some early gains after a survey showed German business morale fell for a fourth straight month in September, adding to concerns the euro zone's biggest economy may have tipped into recession.

The pan European STOXX 600 was up 0.6 percent at 519.58 after rising 0.4 percent on Monday despite weak business activity readings from the euro zone and the U.K.

The German DAX climbed 0.6 percent, France's CAC 40 rallied 1.4 percent and the U.K.'s FTSE 100 was up 0.3 percent.

The British pound gained further against its peers after the Bank of England (BoE) Governor Andrew Bailey said he doesn't expect a return to low rates.

Bailey said he was "very encouraged" by the downwards path of inflation and therefore expects interest rates will fall gradually.

In corporate news, Dulux paint maker AkzoNobel rose about 1 percent after it announced plans to cut 2,000 jobs globally.

Miners Anglo American, Antofagasta and Glencore surged 5-7 percent as copper prices hit a two-month high supported by China's measures.

China-linked luxury companies such as LVMH, Kering and Hermes International surged 4-5 percent in Paris.

Energy giant BP Plc gained 1 percent and peer Shell added half a percent as oil prices rose on signs of escalating Middle East tensions and a weaker dollar.

Engineering firm Smiths Group slumped 7.4 percent after its FY24 results missed estimates.

CRH, a provider of building materials solutions, fell 1 percent after announcing a new CEO.

Johnson Matthey rallied 2.1 percent. The chemicals and sustainable technologies company said the second tranche of share buyback, announced in July, of up to 125 million pounds will commence today.

TotalEnergies advanced 1.4 percent. The integrated energy company said it has signed a Heads of Agreement (HoA) with South Korea's HD Hyundai Chemical to supply 200,000 tons of LNG per year for 7 years starting from 2027.

Nordex SE gained 1.5 percent. The German wind turbine maker announced that it has been tapped to supply and install 41 turbines for a 147.6-MW wind project in Poland.

Travel firm TUI AG rose half a percent after reaffirming its full-year earnings guidance.

TSX Ends Notably Lower As Stocks Drop On Interest Rate Concerns

The Canadian market closed notably lower on Friday, hurt by rising bond yields, and fading optimism about interest rate cuts by the Federal Reserve after data showed stronger-than-expected growth in U.S. non-farm payroll employment. Canadian employment data too came in stronger than expected, reducing prospects of any significant monetary easing by the Bank of Canada.

RTTNews | 2 일 전

Dollar Climbs Higher After Buoyant Jobs Data

The U.S. dollar firmed against its major counterparts on Friday amid fading hopes of further reductions in interest rates after data from the Labor Department showed stronger-than-expected growth in non-farm payroll employment in the month of December.

RTTNews | 2 일 전

U.S. Stocks Close Sharply Lower As Strong Jobs Data Raises Interest Rate Concerns

U.S. stocks tumbled on Friday due to heavy selling across the board as buoyant non-farm payroll data raised concerns that the Federal Reserve will likely hold interest rates at current levels or slow down the pace of reductions. Rising bond yields hurt as well.

RTTNews | 2 일 전

Swiss Market Ends Notably Lower

The Switzerland market settled notably lower on Friday, in line with markets across Europe, as upbeat U.S. jobs data raised concerns that the Federal Reserve will likely hold interest rates unchanged from current levels, or go slow on interest rate cuts this year. Data showing an increase in Swiss unemployment weighed as well.

RTTNews | 2 일 전

U.S. Dollar Firms As Strong Jobs Data Dampens Rate Cut Hopes

The U.S. dollar climbed against its most major counterparts in the New York session on Friday, as stronger-than-expected jobs data for December strengthened expectations that the Federal Reserve will hold rates steady for sometime.

RTTNews | 2 일 전

European Stocks Close Lower As Strong U.S. Jobs Data Fuels Interest Rate Concerns

European stocks closed lower on Friday after stronger-than-expected U.S. jobs data raised concerns that the Federal Reserve will hold interest rates at current levels for longer. Higher Euro zone bond yields, and potential tariff hikes by the U.S. weighed as well on investor sentiment.

RTTNews | 2 일 전

Canadian Stocks Tumble As Upbeat Jobs Data Raises Interest Rate Concerns

Canadian stocks are down sharply on Friday with stronger-than-expected U.S. jobs data raising concerns that the Federal Reserve will likely hold interest rates unchanged from current levels for sometime. Also, a buoyant Canadian employment reports has dimmed the prospects for further easing by the Canadian central bank for now.

RTTNews | 2 일 전

U.S. Consumer Sentiment Edges Lower In January As Inflation Expectations Surge

Consumer sentiment in the U.S. has unexpectedly seen a modest deterioration in the month of January, according to preliminary data released by the University of Michigan on Friday. The University of Michigan said its consumer sentiment index edged down to 73.2 in January from 74.0 in December. Economists had expected the index to inch up to 74.5.

RTTNews | 2 일 전

EURUSD	1.02441	GBPUSD	1.22097	AUDUSD	0.61461
USDJPY	157.737	USDCAD	1.44282	USDCHF	0.91664