DAX Slips Into Red On Recession Woes

RTTNews | 835 days ago
Stocktwits
DAX Slips Into Red On Recession Woes

(RTTNews) - German stocks fell sharply on Wednesday as the latest data showed a narrowing in the country's surplus and a weakening services sector.

The trade surplus shrank to 1.2 billion euros in August in a possible sign of a slowdown in external demand for goods.

Services sector activity fell slightly more than initially expected in September, adding to signs that Europe's biggest economy is heading for a recession.

The benchmark DAX dropped 129 points, or a little over 1 percent, to 12,541 after climbing 3.8 percent in the previous session.

Nordex SE shares were 2 percent higher. Exilion Tuuli Ky, Finland's largest wind power producer, has selected Nordex to supply and install 17 N163/5.X turbines for the Isokangas and Palokangas wind farms. The orders include a Premium Service for the turbines covering a period of 30 years.

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UK Retail Sales Drop Unexpectedly On Weak Food Store Sales

UK Retail Sales Drop Unexpectedly On Weak Food Store Sales

UK retail sales declined unexpectedly in December despite the festive season as food sales logged its worst performance since 2013, data from the Office for National Statistics showed Friday. Retail sales volume decreased 0.3 percent on a monthly basis in December, in contrast to the revised 0.1 percent gain in November. The decline confounded expectations for an increase of 0.4 percent.
RTTNews | 6h 2min ago
Malaysia Economy Logs Slower Growth

Malaysia Economy Logs Slower Growth

Malaysia's economy logged a softer growth in the fourth quarter as expansions in manufacturing and construction weakened but the overall growth for 2024 came within the government forecast. Gross domestic product climbed 4.8 percent from a year ago in the fourth quarter, advance estimates from the Department of Statistics showed on Friday. But this was weaker than the 5.3 percent expansion.
RTTNews | 9h 26min ago
European Shares Extend Gains On Rate Cut Bets

European Shares Extend Gains On Rate Cut Bets

European stocks extended gains on Friday, after having hit their highest level in a month the previous day on the back of strong results from Cartier owner Richemont and renewed rate-cut hopes.
RTTNews | 9h 32min ago
FTSE 100 Rallies On BoE Rate-cut Bets

FTSE 100 Rallies On BoE Rate-cut Bets

U.K. stocks rose sharply on Friday while the British pound weakened against other major currencies after data showed British retail sales declined unexpectedly in December on falling food store sales.
RTTNews | 9h 45min ago
CAC 40 Edges Higher Ahead Of Eurozone Inflation Data

CAC 40 Edges Higher Ahead Of Eurozone Inflation Data

French stocks were moving higher on Friday after a Federal Reserve official said the U.S. central bank could cut rates three or four times this year if inflation data cooperates, with a first cut possible before July.
RTTNews | 9h 55min ago
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