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European Shares Drift Lower As Trump Threatens Fed Independence

RTTNews | 14h 24min ago

European Shares Drift Lower As Trump Threatens Fed Independence

(RTTNews) - European stocks traded lower on Tuesday as U.S. President Donald Trump's remarks on Federal Reserve Chair Jerome Powell reignited concerns about Fed independence and political interference.

Trump's message about non-tariff barriers also added to concerns over the trade war. The pan-European STOXX 600 dropped 0.45 percent to 504.12 as traders returned to their desks after a long holiday weekend for Good Friday and Easter.

The German DAX slipped 0.3 percent and France's CAC 40 shed half a percent while the U.K.'s FTSE 100 was up 0.2 percent.

Roche Holding AG fell about 1 percent after the Swiss pharmaceutical giant unveiled plans to invest USD 50 billion in pharmaceuticals and diagnostics in the United States over the next five years.

Danish drug maker Novo Nordisk slumped 8 percent after U.S. rival Eli Lilly released promising trial results for its experimental obesity pill, orforglipron, in a trial of diabetes patients.

Germany's ProSiebenSat.1 rallied 2.7 percent after extending Bert Habets' contract as Group CEO for another three years.

J Sainsbury shares jumped 2.6 percent in London. The merchandise retail company has confirmed the launch of a share buyback program worth up to 200 million pounds.

Sales and marketing services provider DCC tumbled nearly 3 percent following the announcement of its healthcare division's sale to HealthCo Investment Limited for £1,050 million.

Biotage AB shares soared 56 percent after KKR made a cash offer for the Swedish biotechnology firm, valuing it at around 11.6 billion Swedish crowns ($1.22 billion).

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Japanese Shares May Find Traction On Wednesday

Japanese Shares May Find Traction On Wednesday

The Japanese stock market has moved lower in consecutive trading days, slumping almost 210 points or 0.7 percent along the way. The Nikkei 225 now sits just above the 34,220-point plateau although it figures to stop the bleeding on Wednesday.

RTTNews | 13 minutes ago

Australia Manufacturing PMI Drops To 51.7 In April - S&P Global

Australia Manufacturing PMI Drops To 51.7 In April - S&P Global

The manufacturing sector in Australia continued to expand in April, albeit at a slower rate, the latest survey from S&P Global revealed on Wednesday with a manufacturing PMI score of 51.7.

RTTNews | 21 minutes ago

KOSPI May Crack Resistance At 2,500 Points

KOSPI May Crack Resistance At 2,500 Points

The South Korea stock market on Tuesday ended the three-day winning streak in which it had climbed more than 40 points or 1.6 percent. The KOSPI now sits just shy of the 2,490-point plateau although it's expected to bounce higher again on Wednesday.

RTTNews | 28 minutes ago

Indonesia Interest Rate Decision Due On Wednesday

Indonesia Interest Rate Decision Due On Wednesday

The central bank in Indonesia will wrap up its monetary policy meeting on Wednesday and then announce its decision on interest rates, highlighting a busy day for Asia-Pacific economic activity. The benchmark lending rate (5.75 percent), deposit facility rate (5.00 percent) and lending facility rate (6.50 percent) are all seen to be unchanged.

RTTNews | 1h 28min ago

IMF Warns Of Tariff War Impact As Global Growth Projections Slashed

IMF Warns Of Tariff War Impact As Global Growth Projections Slashed

The International Monetary Fund slashed the global growth forecasts for this year and next on Tuesday, citing the potential impact of the trade tariffs imposed by U.S. President Donald Trump and cautioned against significant adverse effect on the world economy if the current trade tensions persist.

RTTNews | 3h 13min ago

Canadian Dollar Climbs Amid Risk Appetite

Canadian Dollar Climbs Amid Risk Appetite

The Canadian dollar advanced against its major counterparts in the New York session on Tuesday, as investor sentiment improved after Treasury Secretary Scott Bessent said that the trade war between the US and China may de-escalate.

RTTNews | 3h 44min ago

Swiss Market Ends Marginally Down

Swiss Market Ends Marginally Down

The Switzerland market ended marginally down on Tuesday after languishing in negative territory right through the day's trading session.

RTTNews | 5h 36min ago

European Stocks Close Higher Despite Trade Jitters

European Stocks Close Higher Despite Trade Jitters

The major European markets closed higher on Tuesday, recovering well from early losses, as investors picked up stocks despite lingering concerns about U.S. trade policy and President Donald Trump's criticism of Federal Reserve Chair Jerome Powell.

RTTNews | 5h 53min ago

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