European Shares Seen Slightly Higher Ahead Of BoE Rate Decision

RTTNews | 193 days ago

(RTTNews) - European stocks may see modest gains at open om Thursday as investors react to solid Chinese trade data.

China's imports climbed 8.4 percent in April to beat estimates while exports grew 1.5 percent year-on-year in U.S. dollar terms, matching expectations.

Elsewhere, inflation -adjusted real wages in Japan fell 2.5 percent year on year in March, marking a 24th straight month of decline.

Asian stocks traded mixed, with Chinese and Hong Kong markets rising after the release of trade data.

The yen steadied as Bank of Japan Governor Kazuo Ueda told parliament that sharp, one-sided yen falls are negative for the economy and therefore undesirable.

Gold treaded water ahead of U.S. CPI data due next week while oil extended overnight gains following mixed inventory data.

Investors awaited more clarity on a potential ceasefire between Israel and Hamas, with U.S. President Joe Biden warning that weapon transfers will stop if Israel invades overcrowded Rafah.

Later in the day, the Bank of England is set to keep its interest rate at a 16-year high against the backdrop of persistently high inflation.

The latest economic forecast to be unveiled alongside the interest rate announcement may shed light on future inflation trends and the trajectory of the U.K. economy.

Across the Atlantic, the Labour Department's report on initial jobless claims along with the latest earnings news may garner investor attention.

U.S. stocks ended mixed overnight as Treasury yields rose after a 10-year notes auction.

The Dow inched up 0.4 percent to extend gains for a sixth consecutive session and close above 39,000 points for the first time in five weeks.

The S&P 500 finished marginally lower and the tech-heavy Nasdaq Composite eased 0.2 percent.

European stocks rose for a fourth straight session on Wednesday as Sweden's central bank cut interest rates for the first time in eight years and signalled two more rate reductions during the second half of the year.

The pan European STOXX 600 gained 0.3 percent. The German DAX edged up 0.4 percent, France's CAC 40 added 0.7 percent and the U.K.'s FTSE 100 rose half a percent.

Taiwan Shares May Bounce Higher Again On Tuesday

The Taiwan stock market turned lower again on Monday, one session after ending the four-day losing streak in which it had tumbled almost 850 points or 3.6 percent. The Taiwan Stock Exchange now rests just beneath the 22,550-point plateau and it may see additional support on Tuesday.

RTTNews | 5h 8min ago

Rebound Anticipated For Singapore Stock Market

The Singapore stock market on Monday ended the three-day winning streak in which it had collected more than 30 points or 0.8 percent. The Straits Times Index now sits just above the 3,730-point plateau although it's likely to bounce higher again on Tuesday. The global forecast for the Asian markets is cautiously optimistic, with technology and oil stocks expected to lead the way higher. The European and U.S. markets were mostly higher and the Asian bourses are also likely to open to the upside. The STI finished modestly lower on Monday following mixed performances from the financial shares, property stocks and industrial issues. For the day, the index lost 12.15 points or 0.32 percent to finish at 3,732.55 after trading between 3,727.94 and 3,754.82. Among the actives, CapitaLand Integrated Commercial Trust skidded 1.01 percent, while CapitaLand Investment advanced 0.72 percent, City Developments added 0.39 percent, DBS Group retreated 1.26 percent, DFI Retail surged 3.42 percent, Hongkong Land tanked 2.14 percent, Keppel DC REIT sank 0.45 percent, Keppel Ltd rose 0.30 percent, Mapletree Pan Asia Commercial Trust, Mapletree Industrial Trust rallied 0.81 percent, SATS plunged 2.60 percent, Seatrium Limited declined 1.08 percent, SembCorp Industries tumbled 1.37 percent, Singapore Technologies Engineering plummeted 5.52 percent, SingTel dropped 0.63 percent, Thai Beverage jumped 0.97 percent, Wilmar International spiked 1.31 percent, Yangzijiang Shipbuilding slumped 0.79 percent and Emperador, Genting Singapore, Yangzijiang Financial, Frasers Logistics & Commercial Trust, Oversea-Chinese Banking Corporation, Frasers Centrepoint Trust, Mapletree Logistics Trust and Comfort DelGro were unchanged.

RTTNews | 5h 38min ago

Malaysia Stock Market Poised To Open To The Upside On Tuesday

The Malaysia stock market on Monday snapped the two-day slide in which it had slumped almost 20 points or 1.2 percent. The Kuala Lumpur Composite Index now sits just above the 1,600-point plateau and it's tipped to open in the green again on Tuesday. The global forecast for the Asian markets is cautiously optimistic, with technology and oil stocks expected to lead the way higher. The European and U.S. markets were mostly higher and the Asian bourses are also likely to open to the upside. The KLCI finished modestly higher on Monday following gains from the telecoms and plantations, while the financial and industrial sectors were mixed. For the day, the index improved 11.60 points or 0.73 percent to finish at 1,604.04 after trading between 1,591.49 and 1,605.41. Among the actives, Axiata rallied 1.34 percent, while Celcomdigi strengthened 1.20 percent, CIMB Group was up 0.24 percent, Genting gained 0.53 percent, Genting Malaysia jumped 1.42 percent, IHH Healthcare eased 0.14 percent, IOI Corporation accelerated 1.53 percent, Kuala Lumpur Kepong gathered 0.46 percent, Maxis surged 3.78 percent, Maybank dipped 0.19 percent, MISC sank 0.66 percent, MRDIY added 0.55 percent, Nestle Malaysia slid 0.20 percent, Petronas Chemicals fell 0.22 percent, PPB Group dropped 0.70 percent, Press Metal skyrocketed 6.59 percent, Public Bank collected 0.67 percent, QL Resources improved 0.84 percent, RHB Bank rose 0.47 percent, Sime Darby perked 0.45 percent, SD Guthrie soared 2.29 percent, Sunway spiked 1.72 percent, Telekom Malaysia increased 0.48 percent, Tenaga Nasional climbed 1.13 percent, YTL Corporation shed 0.51 percent and YTL Power was unchanged. The lead from Wall Street suggests mild upside as the major averages opened on opposite sides of the line on Monday and maintained a fairly narrow trading range before ending mixed.

RTTNews | 6h 8min ago

South Korea Shares May Add To Their Winnings On Tuesday

The South Korea stock market has finished higher in two of three trading days since the end of the four-day losing streak in which it had plunged almost 250 points or 5.8 percent. The KOSPI now sits just beneath the 2,470-point plateau and it may tick higher again on Tuesday.

RTTNews | 6h 38min ago

Energy, Mining Stocks Lift TSX

The Canadian market closed on a firm note on Monday, lifted by gains in energy and materials stocks as commodity prices climbed higher amid an escalation in the Russia - Ukraine war.

RTTNews | 6h 42min ago

RBA Minutes On Tap For Tuesday

The Reserve Bank of Australia will on Tuesday release the minutes from its November 5 monetary policy meeting, highlighting a light day for Asia-Pacific economic activity.

RTTNews | 7h 8min ago

Dollar Slips Against Major Counterparts

The U.S. dollar drifted lower on Monday as bond yields fell, and the Euro gained in strength after European Central Bank Governing Council member Nagel said central banks may have to raise rates in the event of inflationary pressures rise.

RTTNews | 7h 29min ago

Canadian Market Modestly Higher, Looks Headed For Positive Close

The Canadian market is up in positive territory Monday afternoon with energy and materials shares recording strong gains thanks to higher commodity prices. The mood remains a bit cautious amid concerns about geopolitical tensions, and uncertainty about the Federal Reserve's monetary policy moves.

RTTNews | 9h 44min ago

EURUSD	1.059	GBPUSD	1.26721	AUDUSD	0.64993
USDJPY	154.424	USDCAD	1.40251	USDCHF	0.88345