DAX Declines With Middle East Tensions And PMI Data In Focus

RTTNews | 14 days ago
Stocktwits
DAX Declines With Middle East Tensions And PMI Data In Focus

(RTTNews) - German stocks fell notably on Thursday, with weak service sector activity data and the risk of escalating conflict in the Middle East denting sentiment.

Growth in Germany's services sector slowed for a fourth consecutive month in September due to a sharp drop in incoming orders, a survey showed.

The HCOB final services Purchasing Managers' Index fell to a six-month low of 50.6 from 51.2 in August.

The benchmark DAX was down 146 points, or 0.8 percent, at 19,018 after falling 0.3 percent in the previous session.

In corporate news, software maker SAP SE dropped 1.3 percent after a U.S. price-fixing probe into the company.

Lufthansa edged down slightly. The flag carrier said that it is resuming certain flights to destinations in the Middle East but will not use Iranian and Iraqi airspace as a precautionary measure due to the ongoing conflict, until further notice.

LANXESS tumbled 3.3 percent. The specialty chemicals company has signed a contract to sell its Urethane Systems business to Japanese UBE Corporation.

Residential landlord Vonovia fell 1.8 percent after saying it expects a total liquidity inflow of around 4 billion euros for 2024, same as the previous year's level.

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Asian Markets Trade Mostly Higher

Asian Markets Trade Mostly Higher

Asian stock markets are trading mostly higher on Friday, following the mixed cues from Wall Street overnight, as traders remain cautious ahead of the release of economic data from China, including GDP figures. A rate cut by the European Central Bank and expectations of interest rate cuts by the US Fed and the Bank of Canada are aiding market sentiment. Asian markets ended mixed on Thursday.
RTTNews | 5h 5min ago
Japanese Market Modestly Higher

Japanese Market Modestly Higher

Recouping some of the losses in the previous two sessions, the Japanese stock market is modestly higher on Friday, following the mixed cues from Wall Street overnight. The benchmark Nikkei 225 is moving above the 39,000 mark, with gains in some index heavyweights and financial stocks partially offset by weakness in technology stocks.
RTTNews | 5h 35min ago
Australian Market Significantly Lower

Australian Market Significantly Lower

The Australian stock market is significantly lower on Friday, reversing the gains in the previous session, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling a tad below the 8,300 level, with weakness across most sectors led by mining, energy and technology stocks.
RTTNews | 6h 0min ago
Thai Bourse May Take Another Crack At 1,500-Point Level

Thai Bourse May Take Another Crack At 1,500-Point Level

The Thai stock market has moved higher in two straight sessions, collecting almost 30 points or 2.1 percent in that span. The Stock Exchange of Thailand now rests just above the 1,495-point plateau and it's expected to open to the upside again on Friday.
RTTNews | 6h 20min ago
Rally May Stall For Indonesia Stock Market

Rally May Stall For Indonesia Stock Market

The Indonesia stock market has tracked higher in five straight sessions, climbing more than 250 points or 3.4 percent along the way. The Jakarta Composite Index now rests just above the 7,735-point plateau although it may be stuck in neutral on Friday.
RTTNews | 6h 50min ago
Hong Kong Shares Poised To End Losing Streak

Hong Kong Shares Poised To End Losing Streak

The Hong Kong stock market has moved lower in four straight sessions, stumbling almost 1,100 points or 5.2 percent along the way. The Hang Seng Index now sits just shy of the 20,080-point plateau although it's due for support on Friday.
RTTNews | 7h 5min ago
China Shares May Tick Higher Again On Friday

China Shares May Tick Higher Again On Friday

The China stock market has alternated between positive and negative finishes through the last seven trading days since the end of the 10-day winning streak in which it had skyrocketed more than 780 points or 27.9 percent. The Shanghai Composite now sits just beneath the 3,170-point plateau and it nay bounce higher again on Friday.
RTTNews | 7h 20min ago
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