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DAX Dips On BoJ Policy Shift
(RTTNews) - German stocks fell sharply on Tuesday after the Bank of Japan expanded its 10-year Japanese government bond yield target band - raising fears of an eventual tightening in policy.
Hawkish comments on interest rates from former Federal Reserve official William Dudley also fueled worries about a worldwide recession.
The benchmark DAX dropped 143 points, or 1.0 percent, to 13,799 after gaining 0.4 percent in the previous session. Klöckner fell about 1 percent. The steel and metal company has agreed to acquire National Material of Mexico for US$340 million on a cash and debt free basis.
Pfeiffer Vacuum, a manufacturer of vacuum pumps, rose over 1 percent after raising its FY sales outlook.
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Swiss Franc Recovers Against Majors
The Swiss franc recovered against its major counterparts in the New York session on Friday.
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Euro Advances Against Most Majors
The euro climbed against its most major counterparts in the New York session on Friday.
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Canadian Market Slightly Lower In Cautious Trade
After three successive days of gains, the Canadian market is exhibiting weakness on Friday and looks set to end the day's session on a negative note.
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Swiss Market Ends Modestly Higher
The Swiss market closed modestly higher on Friday after moving in a tight bandwith investors digesting earnings updates and continuing to track the developments on the tariff front.
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European Stocks Close Higher
Despite lingering uncertainty about U.S. government's trade policy, European stocks closed higher on Friday, with German and French markets gaining for a fourth straight session, and the U.K. moving up for the tenth consecutive session, as investors focused on earnings.
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U.S. Consumer Sentiment Deteriorates Modestly Less Than Estimated In April
A report released by the University of Michigan on Friday showed consumer sentiment in the U.S. deteriorated modestly less than previously estimated in the month of April. The University of Michigan said its consumer sentiment index for April was upwardly revised to 52.2 from a preliminary reading of 50.8. Economists had expected the index to be unrevised.
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Russia Holds Key Interest Rate As Expected
The Bank of Russia left its interest rate unchanged as widely expected on Friday, despite high inflationary pressures. The board of directors, governed by Elvira Nabiullina, maintained the key interest rate at a record high 21.00 percent. The Russian central bank has raised the key interest rate by 1,350 basis points since July 2023.
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UK Retail Sales Rise; Consumer Sentiment Weakens
UK retail sales grew unexpectedly in March as good weather boosted demand for clothing and garden supplies, but U.S. President Donald Trump's tariff threats and concerns of higher inflation dampened consumer sentiment, data showed Friday. Retail sales grew 0.4 percent on a monthly basis, confounding expectations for a decline of 0.3 percent.
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