DAX Tumbles With Inflation Worries In Focus

RTTNews | 980 days ago
DAX Tumbles With Inflation Worries In Focus

(RTTNews) - German stocks tumbled on Thursday as investor focus shifted to inflation and the possibility of a global recession.

The Swiss National Bank raised its policy interest rate for the first time in 15 years today, joining other central banks in tightening monetary policy to control inflation. Economists are looking for a 25bp hike from the Bank of England (BoE) later today, taking the Bank rate to 1.25 percent.

The benchmark DAX was down 262 points, or 1.9 percent, at 13,223 after climbing 1.4 percent the previous day.

Automakers BMW and Volkswagen fell over 1 percent after industry data showed European passenger car registrations declined for the tenth successive month in May, but at a slower pace.

Passenger car sales fell 11.2 percent year-over-year in May, following a 20.6 percent decrease in April.

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U.S. Dollar Declines After Higher Jobless Claims

U.S. Dollar Declines After Higher Jobless Claims

The U.S. dollar weakened against its major counterparts in the New York session on Thursday, following the release of higher-than-expected initial jobless claims for the week ended February 15.
RTTNews | 6h 30min ago
Swiss Market Ends Slightly Higher

Swiss Market Ends Slightly Higher

The Switzerland market closed slightly up on Thursday after a choppy session, as investors largely stayed cautious amid concerns about U.S. President Donald Trump's tariff threats, and geopolitical tensions.
RTTNews | 6h 30min ago
European Stocks Close Weak As Investors React To Earnings, Economic Data

European Stocks Close Weak As Investors React To Earnings, Economic Data

European stocks closed weak on Thursday with quarterly earnings updates influencing investors' moves. Worries about a trade war following U.S. President Donald Trump's persistent threats that his administration will levy 25% tariffs on several goods imported into America, and lingering geopolitical tensions rendered the mood cautious.
RTTNews | 6h 52min ago
U.S. Leading Economic Index Unexpectedly Decreases In January

U.S. Leading Economic Index Unexpectedly Decreases In January

Reversing most of the gains from the previous two months, the Conference Board released a report on Thursday showing an unexpected decrease by its reading on leading U.S. economic indicators in the month of January. The Conference Board said its leading economic index fell by 0.3 percent in January following a revised 0.1 percent uptick in December.
RTTNews | 9h 0min ago
Euro Area Consumer Confidence Improves More Than Expected To Highest In 4 Months

Euro Area Consumer Confidence Improves More Than Expected To Highest In 4 Months

Eurozone consumer confidence strengthened for a second straight month and at a faster than expected pace to its highest level in four months in February, suggesting that pessimism among households in the single currency bloc is easing despite the increasing threat of a tariff war with the U.S.
RTTNews | 9h 40min ago
Philly Fed Index Pulls Back Sharply But Still Indicates Growth In February

Philly Fed Index Pulls Back Sharply But Still Indicates Growth In February

Philadelphia-area manufacturing activity continued to expand in the month of February, according to a report released by the Federal Reserve Bank of Philadelphia on Thursday, although the index of activity in the sector pulled back sharply. The Philly Fed said its diffusion index for current general activity plunged to 18.1 in February after skyrocketing to 44.3 in January.
RTTNews | 9h 55min ago
U.S. Jobless Claims Rise More Than Expected To 219,000

U.S. Jobless Claims Rise More Than Expected To 219,000

A report released by the Labor Department showed a modest increase by first-time claims for U.S. unemployment benefits in the week ended February 15th. The Labor Department said initial jobless claims rose to 219,000, an increase of 5,000 from the previous week's revised level of 214,000. Economists had expected jobless claims to inch up to 215,000.
RTTNews | 9h 57min ago