DAX Drifts Lower As Fed Flags Slower Rate Cuts

RTTNews | 7h 41min ago
DAX Drifts Lower As Fed Flags Slower Rate Cuts

(RTTNews) - German stocks drifted lower on Thursday after the Federal Reserve signalled a slower pace of interest rate cuts next year, citing inflation risks.

The benchmark DAX was down 156 points, or 0.8 percent, at 20,086 after finishing marginally lower the previous day.

Perfume and cosmetics maker Douglas Holding AG tumbled 4 percent despite reporting a turnaround to net profit for the fourth quarter.

BMW fell slightly and Mercedes Benz was little changed as industry data showed new car sales in the EU decreased in November after rebounding in the previous month.

New car registrations dropped 1.9 percent year-over-year to 869,816 units in November, reversing a 1.1 percent rise in October, according to the European Automobile Manufacturers' Association.

Volkswagen edged up slightly amid ongoing talks with labor leaders over German plant closures and pay cuts.

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Philippines Cuts Policy Rate To 5.75%

Philippines Cuts Policy Rate To 5.75%

The Philippine central bank decided to reduce its benchmark rate by 25 basis points on Thursday as inflation is projected to remain within the target range and, hinted at further policy easing next year. The Monetary Board of the Bangko Sentral ng Pilipinas lowered the target reverse repurchase rate to 5.75 percent from 6.00 percent.
RTTNews | 6h 4min ago
Pound Rises As Traders' Await BoE Rate Decision

Pound Rises As Traders' Await BoE Rate Decision

The British pound strengthened against other major currencies in the European session on Thursday, as investors braced for the Bank of England's last meeting of the year later in the day.
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Pound Rises Against Majors

Pound Rises Against Majors

The British pound strengthened against other major currencies in the European session on Thursday.
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German GfK Consumer Sentiment To Rise In January

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German consumer confidence recovered marginally towards the end of the year and it is forecast to rise again in January, survey data jointly published by the market research group GfK and the Nuremberg Institute for Market Decisions showed on Thursday. The forward-looking consumer sentiment index posted -21.3 in January, up from -23.1 in December. The score was expected to rise to -22.6.
RTTNews | 7h 40min ago