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DAX Rises Despite Weak Retail Sales Data
(RTTNews) - German stocks rose on Thursday as Fed Chair Jerome Powell signaled a potential slowing of interest rate hikes and two major Chinese cities relaxed some COVID restrictions in efforts to reduce public discontent.
Investors looked past data showing that German retail sales fell more than expected in October as a result of concerns surrounding inflation.
Retail sales contracted by 5 percent year-on-year in October, the federal statistics office said. That was well below forecasts for a 2.8 percent decline. Sales fell 2.8 percent month-on-month.
The benchmark DAX was up 76 points, or half a percent, at 14,473 after gaining 0.3 percent the previous day.
Tech stocks led the surge, with Infineon Technologies rising more than 3 percent.
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Australian Dollar Falls Against Majors
The Australian dollar weakened against other major currencies in the Asian session on Thursday.
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4h 25min ago
European Shares Set To Fall As Trump Imposes Sweeping New Tariffs
European stocks are seen opening deep in the red on Thursday after U.S. President Donald Trump announced a 20 percent levies on European goods.
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4h 26min ago
European Economic News Preview: Eurozone Final Composite PMI Data Due
Final composite Purchasing Managers' survey results from the euro area and the UK are the top economic news due at Thursday. At 3.15 AM ET, S&P Global publishes Spain's services and composite PMI survey data. The services indicator is forecast to fall to 55.6 in March from 56.2 in the previous month. At 3.45 am ET, services and composite PMI data is due from Italy.
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4h 30min ago
Sensex, Nifty Open Lower; IT And Auto Stocks Drag
Indian shares were slightly lower on Thursday after U.S. President Donald Trump announced 26 percent reciprocal tariff on India - half the rate India imposes on U.S. imports, leaving some room for negotiation.
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5h 43min ago
Asian Markets Trades Mostly Lower
Asian stock markets are trading mostly lower on Thursday, despite the positive cues from Wall Street overnight, after US President Donald Trump announced steeper-than-expected tariffs on US trade partners, heightening concerns over a global trade war that could destabilize major economies. White House press secretary Karoline Leavitt indicated the new levies will be "effective immediately."
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6h 34min ago
Australian Market Trims Early Losses In Mid-market
The Australian market is trimming its early losses in mid-market moves on Thursday, giving up the gains in the previous two sessions, despite the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling well below the 7,900 level, with weakness across most sectors led by mining and technology stocks.
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7h 22min ago
Sensex, Nifty Likely To See Gap-down Open As Trade War Fears Mount
Indian shares look set to open sharply lower on Thursday after U.S. President Donald Trump announced reciprocal tariffs affecting over 180 countries, including a 26 percent tariff on India - half the rate India imposes on U.S. imports, leaving some room for negotiation.
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7h 32min ago
Thai Stock Market May Spin Its Wheels On Thursday
The Thai stock market has moved higher in back-to-back sessions, advancing almost 15 points or 1.2 percent along the way. The Stock Exchange of Thailand now sits just above the 1,170-point plateau, although it may run out of steam on Thursday.
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8h 30min ago
