DAX Edges Higher On Dovish Fed Expectations
(RTTNews) - German stocks were modestly higher on Thursday as a preliminary survey showed German business activity contracted in August for a second consecutive month and by more than expected, reinforcing investor bets on a September ECB rate cut.
Dovish Fed expectations also underpinned sentiment following the release of minutes from the Federal Reserve meeting and a downward revision to U.S. payrolls data.
The benchmark DAX was up 43 points, or 0.2 percent, at 18,492 after rising half a percent the previous day.
In corporate news, ticketing group CTS Eventim soared 7 percent after upgrading its full-year earnings outlook.
Lender Deutsche Bank rallied 2.6 percent after settling with over 80 plaintiffs in the Postbank AG litigation.
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NZ Dollar Slides Against Most Majors
The New Zealand dollar weakened against its most major counterparts in the New York session on Thursday.
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7h 41min ago
Swiss Market Closes Modestly Higher
The Switzerland market closed modestly higher on Thursday, staying positive right through the day's session, amid hopes global central banks will reduce interest rates further to boost growth.
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7h 47min ago
Major European Markets Close Slightly Higher
The major European markets closed slightly higher on Thursday with investors reacting positively to some quarterly earnings updates from a few major European and U.S. companies, and dovish comments from Bank of England Governor Andrew Bailey.
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8h 5min ago
Canadian Dollar Declines Against Most Majors
The Canadian dollar dropped against its most major counterparts in the New York session on Thursday.
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9h 22min ago
U.S. New Home Sales Surge More Than Expected To Highest Level In Over A Year
New home sales in the U.S. rebounded by much more than expected in the month of September, according to a report released by the Commerce Department on Thursday. The Commerce Department said new home sales surged by 4.1 percent to an annual rate of 738,000 in September after tumbling by 2.3 percent to a revised rate of 709,000 in August.
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10h 42min ago
Unilever Stock Up On Q3 Underlying Sales Growth, Outlook
Shares of Unilever Plc were gaining around 3 percent in the Amsterdam trading as well as on the NYSE on Thursday after the consumer goods major reported higher underlying sales growth in its third quarter, and maintained its fiscal 2024 growth forecast. The third-quarter sales, on a reported basis, remained flat.
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11h 2min ago
Intel Wins EU Court Battle As EUR 1.06 Bln Fine Annulled
Intel Corp. has won a long-running court battle in the European Union, where the Court of Justice, Europe's top court, upheld the annulment by the General Court of a 1.06 billion euros fine imposed by the Commission on the chipmaker. The European regulator had alleged an abuse of a dominant position on the part of Intel.
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11h 27min ago
U.S. Weekly Jobless Claims Unexpectedly See Further Downside
After reporting an unexpected pullback by first-time claims for U.S. unemployment benefits in the previous week, the Labor Department released a report on Thursday showing initial jobless claims saw further downside in the week ended October 19th. The report said initial jobless claims fell to 227,000, a decrease of 15,000 from the previous week's revised level of 242,000.
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11h 41min ago
