DAX Slips Into Red Ahead Of PMI Data

RTTNews | 2 days ago
DAX Slips Into Red Ahead Of PMI Data

(RTTNews) - German stocks traded slightly lower on Monday ahead of manufacturing Purchasing Managers' survey results from Germany and the euro area, due out later in the day.

The euro declined versus a strengthening dollar as investors fretted about the latest political developments in France.

France's far-right National Rally (RN) party, led by Jordan Bardella and Marine Le Pen, is poised to back a no-confidence motion against Prime Minister Michel Barnier's government due to disagreements over budget demands.

The benchmark DAX was down 24 points, or 0.1 percent, at 19,602 after rallying 1 percent on Friday.

Delivery Hero SE shares slumped 7 percent. Under pressure from the Spanish authorities and to avoid further legal uncertainties, the food delivery company said that Glovo is moving from a freelance model to an employment model.

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European Economic News Preview: Eurozone Final Composite PMI Due

European Economic News Preview: Eurozone Final Composite PMI Due

Final composite and services Purchasing Managers' survey results from the euro area and the UK are due on Wednesday, headlining a busy day for the European economic news. At 3.15 am ET, Spain's services Purchasing Managers' survey data is due. Economists expect the index to fall to 53.6 in November from 54.9 in the previous month.
RTTNews | 8h 22min ago
Aussie Falls As Weaker GDP Growth Spurs RBA Rate Cut Speculation

Aussie Falls As Weaker GDP Growth Spurs RBA Rate Cut Speculation

The Australian dollar weakened against other major currencies in the Asian session on Wednesday, as slower domestic growth spurred bets that the Reserve Bank of Australia (RBA) is likely to cut interest rates in early 2025. Also, a private survey showed that China's services sector grew less than expected in November.
RTTNews | 8h 53min ago
Asian Markets Trade Mixed

Asian Markets Trade Mixed

Asian stock markets are trading mixed on Wednesday, following the mixed cues from Wall Street overnight, as traders react to the political turmoil in South Korea, a deepening political crisis in France and faltering economic growth in China, with the South Korean market plunging over 2 percent. They also remain optimistic about an interest rate cut by the US Fed in December.
RTTNews | 10h 13min ago
Sensex, Nifty Set To Follow Asian Peers Lower

Sensex, Nifty Set To Follow Asian Peers Lower

Indian shares look set to open on a weak note Wednesday as investors await this week's key U.S. jobs report and Fed Chair Jerome Powell's remarks for clues on whether officials will cut interest rates in December.
RTTNews | 11h 9min ago