European Shares Mixed Ahead Of The Harris-Trump Presidential Debate

RTTNews | 41 days ago

(RTTNews) - European stocks were mixed on Monday after having snapped a five-day losing streak the previous day.

A cautious undertone prevailed ahead of the televised U.S. presidential debate later today and U.S. inflation readings due later in the week that could influence expectations for the interest rate outlook.

Upcoming ECB and Fed meetings also remained on investors' radar.

Analysts remain divided over whether the Federal Reserve would deliver a regular 25 basis point (bps) rate cut or an outsized 50 bps one at its Sept. 17-18 policy meeting.

Meanwhile, Germany's consumer price inflation weakened, as initially estimated, in August due to falling energy prices, final data from Destatis showed today.

Consumer price inflation softened to 1.9 percent in August from 2.3 percent in July. The rate matched the provisional estimate published on August 29.

The British pound edged up versus the euro and dollar as new data supported the view that the British economy was on a solid footing.

Official data revealed that the U.K. unemployment rate dropped in the three months to July and the wage growth softened to a two-year low.

The unemployment rate fell to 4.1 percent in the three months to July from 4.2 percent in the preceding period.

Annual growth in average earnings, excluding bonuses, was 5.1 percent in the three months to July, as expected, but weaker than the 5.4 percent posted in the prior period. This was the weakest since 2022.

Capital Economics' economist Ashley Webb said that further easing in wage growth is a welcome sign but will not be enough to prompt a back-to-back 25 basis points interest rate cut, from 5.00 percent to 4.75 percent in September.

The pan-European STOXX 600 slid 0.1 percent to 09.98 after rising 0.8 percent on Monday.

The German DAX dipped 0.4 percent and the U.K.'s FTSE 100 shed 0.6 percent while France's CAC 40 was up 0.1 percent.

In corporate news, AstraZeneca slumped 4.5 percent after its lung cancer drug showed mixed results in a late-stage trial.

Gamma Communications, a provider of voice, data, mobile, and other communication services, soared 7 percent after posting a rise in earnings and revenue for the first half, supported by acquisitions.

Centamin jumped nearly 24 percent after AngloGold Ashanti made a $2.5 billion (about R44.6 billion) bid in a mix of shares and cash to acquire the gold miner.

Hearing aid maker Amplifon plummeted 6.2 percent after Apple announced that its latest AirPods earbuds will come with built-in hearing aids.

Capgemini soared 7 percent in Paris after Oracle beat on the top and bottom lines for the first quarter and announced it would bring database services to cloud infrastructure market leader Amazon Web Services.

Asian Markets Trade Mostly Lower

Asian stock markets are trading mostly lower on Tuesday, following the mixed cues from Wall Street overnight, as bond yields surged on cooling expectations on US Fed interest rate cuts. Traders also booked some profits after the recent up surge in the markets. The uncertainty over wars in the Middle East and Europe as well as the U.S. presidential election is weighing on market sentiment.

RTTNews | 4h 25min ago

Japanese Market Sharply Lower

The Japanese stock market is sharply lower on Tuesday, adding to the slight losses in the previous session, with the Nikkei 225 falling to stay a tad above the 38,400 level, following the mixed cues from Wall Street overnight, with weakness across most sectors led by index heavyweights and technology stocks.

RTTNews | 4h 58min ago

Sensex, Nifty Seen Lower As Bond Yields Surge

Indian shares are likely to open lower on Tuesday as investors react to weak global cues and an uptrend in oil prices overnight amid heightened tensions in the Middle East.

RTTNews | 5h 0min ago

Thai Stock Market May Take Further Damage On Tuesday

The Thai stock market has tracked lower in two straight sessions, slipping more than 6 points or 0.4 percent along the way. The Stock Exchange of Thailand now sits just shy of the 1,490-point plateau and it's looking at another soft start again on Tuesday.

RTTNews | 5h 24min ago

Australian Market Sharply Lower

Reversing the gains in the previous session, the Australian stock market is trading sharply lower on Tuesday, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling well below the 8,300 level, with weakness across most sectors led by energy and technology stocks. Gold miner stocks were the only bright spot.

RTTNews | 5h 49min ago

Indonesia Stock Market Due For Consolidation On Tuesday

The Indonesia stock market has tracked higher in seven straight sessions, climbing more than 285 points or 3.9 percent along the way. The Jakarta Composite Index now rests just above the 7,770-point plateau although investors figure to lock in gains on Tuesday. The global forecast for the Asian markets is negative with profit taking likely for many of the regions. The European and U.S. markets were mostly lower and the Asian bourses figure to follow that lead. The JCI finished slightly higher on Monday following mixed performances from the financial shares and resource stocks. For the day, the index added 12.54 points or 0.16 percent to finish at 7,772.60 after trading between 7,739.89 and 7,795.09. Among the actives, Bank CIMB Niaga dipped 0.26 percent, while Bank Mandiri collected 0.35 percent, Bank Danamon Indonesia rose 0.38 percent, Bank Negara Indonesia fell 0.44 percent, Bank Central Asia shed 0.70 percent, Bank Rakyat Indonesia added 0.40 percent, Bank Maybank Indonesia advanced 0.88 percent, Indosat Ooredoo Hutchison improved 0.82 percent, Indocement tumbled 1.92 percent, Semen Indonesia stumbled 2.43 percent, Indofood Sukses Makmur slid 0.34 percent, Astra International soared 3.66 percent, Energi Mega Persada spiked 3.45 percent, Astra Agro Lestari sank 0.74 percent, Aneka Tambang surged 4.00 percent, Vale Indonesia rallied 3.16 percent, Timah jumped 1.87 percent, Bumi Resources dropped 0.72 percent and United Tractors and Jasa Marga were unchanged.

RTTNews | 5h 54min ago

Hong Kong Shares Tipped To Open In The Red

The Hong Kong stock market headed south again on Monday, one session after halting the four-day losing streak in which it had stumbled almost 1,100 points or 5.2 percent. The Hang Seng Index now sits just above the 20,475-point plateau and it's looking at another soft start again on Tuesday. The global forecast for the Asian markets is negative with profit taking likely for many of the regions. The European and U.S. markets were mostly lower and the Asian bourses figure to follow that lead.

RTTNews | 6h 9min ago

Soft Start Predicted For China Stock Market

The China stock market has finished higher in back-to-back sessions, gathering almost 100 points or 3 percent along the way. The Shanghai Composite now sits just beneath the 3,270-point plateau although it may open under pressure on Tuesday. The global forecast for the Asian markets is negative with profit taking likely for many of the regions. The European and U.S. markets were mostly lower and the Asian bourses figure to follow that lead. The SCI finished slightly higher on Monday following mixed performances from the property stocks and resource companies, while the financials and oil companies were down. For the day, the index rose 6.55 points or 0.20 percent to finish at 3,268.11 after trading between 3,239.10 and 3,300.66. The Shenzhen Composite Index jumped 30.10 points or 1.58 percent to end at 1,936.97. Among the actives, Industrial and Commercial Bank of China tanked 2.53 percent, while Bank of China declined 1.98 percent, China Construction Bank dropped 1.93 percent, China Merchants Bank lost 0.51 percent, Agricultural Bank of China stumbled 2.42 percent, China Life Insurance rose 0.21 percent, Jiangxi Copper jumped 1.90 percent, Aluminum Corp of China (Chalco) rallied 2.46 percent, Yankuang Energy strengthened 1.83 percent, PetroChina sank 0.94 percent, China Petroleum and Chemical (Sinopec) fell 0.30 percent, Huaneng Power shed 0.57 percent, China Shenhua Energy retreated 1.57 percent, Gemdale soared 2.43 percent, Poly Developments spiked 2.77 percent and China Vanke tumbled 1.92 percent.

RTTNews | 6h 24min ago

EURUSD	1.08162	GBPUSD	1.2991	AUDUSD	0.66778
USDJPY	150.959	USDCAD	1.38309	USDCHF	0.86523