DAX Holds Steady As Factory Orders Unexpectedly Rise
(RTTNews) - German stocks held steady on Thursday after official data revealed Germany's factory orders grew unexpectedly in July largely due to the surge in demand for transport equipment.
Incoming new orders advanced 2.9 percent on a monthly basis in July following June's revised 4.6 percent expansion, Destatis reported. Orders were forecast to fall 1.6 percent.
On a yearly basis, new orders climbed 3.7 percent, in contrast to the 11.2 percent increase in the prior month.
The benchmark DAX was marginally higher at 18,606 after declining 0.8 percent in the previous session.
Specialty chemicals company Lanxess AG rose nearly 2 percent after Morgan Stanley raised its rating on the stock to "Overweight" from "Underweight".
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German Industrial Output & Exports Recover
Germany's industrial production and exports rebounded in November but the underlying picture remained pretty grim amid job cuts in manufacturing and the possible hike in trade tariffs by the U.S. Industrial output increased a more-than-expected 1.5 percent on a monthly basis, in contrast to the revised 0.4 percent decrease in October, data from Destatis revealed Thursday.
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6h 7min ago
Resources Stocks May Edge Higher As Bay Street Looks Headed For Mixed Open
Canadian shares are likely to turn in a mixed performance on Thursday, with investors looking ahead to U.S. and Canadian jobs data, due on Friday. Energy and materials stocks may find some support thanks to higher commodity prices.
Volume of business is likely to be a bit thin as U.S. markets are closed today in honor of former U.S. President Jimmy Carter, who died in late December at age 100.
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7h 13min ago
Pound Slides As U.K. Borrowing Costs Soar
The British pound weakened against other major currencies in the European session on Thursday, on worries about the rising borrowing costs in the U.K. and the stagflation threat.
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8h 12min ago
FTSE 100 Moderately Higher As Mining Stocks Move Up
The U.K. market is up in positive territory Thursday morning, led by gains in the mining sector, even as stocks from the retail sector are reeling under selling pressure, despite several big name retailers reporting a surge in sales. A weak pound is contributing significantly to market's upmove.
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8h 56min ago
Eurozone Retail Sales Rise Less Than Forecast
Driven by food and auto fuel turnover, Eurozone retail sales registered a marginal growth, which was weaker than expected in November, reflecting subdued household consumption towards the end of 2024. Retail sales grew 0.1 percent on month in November after easing 0.3 percent in October, data from Eurostat showed Thursday. Sales were expected to climb 0.3 percent.
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9h 12min ago
Pound Slides Against Majors
The British pound weakened against other major currencies in the European session on Thursday.
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9h 22min ago
Sensex, Nifty Extend Declines For Second Day, Auto And FMCG Stocks Outperform
Indian shares fell notably on Thursday as new data underscored persistent deflationary pressure in China and U.S. President-elect Donald Trump's tariff plans fueled uncertainty.
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9h 36min ago
CAC 40 Recovers After Weak Start, Up Marginally
French stocks are turning in a mixed performance Thursday morning as investors make largely cautious moves amid a lack of fresh data.
Higher U.S. bond yields, and concerns about potential tariffs under Trump's presidency as well the outlook for interest rate cuts appear to be weighing on stocks.
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9h 42min ago
