European Shares Struggle For Direction; Defense Stocks Decline

RTTNews | 67 days ago
Stocktwits
European Shares Struggle For Direction; Defense Stocks Decline

(RTTNews) - European stocks struggled for direction on Monday after gaining for four days in a row on optimism over potential U.S. rate cuts.

The pan European STOXX 600 was marginally higher at 511.68 after logging its best week since May 6 on Friday.

The German DAX dipped 0.1 percent and the U.K.'s FTSE 100 shed 0.2 percent while France's CAC 40 traded flat with a positive bias.

Aerospace and defense stocks inched lower after reports suggested that Germany, the second largest contributor of aid to Ukraine, plans to halve its military aid to Kyiv in 2025 due to spending cuts.

BAE Systems, Rolls-Royce Holdings, Rheinmetall and Saab AB fell 2-6 percent.

Plus500 jumped 4.1 percent after the online trading platform announced a strong set of interim results and forecast its annual results to be above market view.

British housebuilder Barratt Developments gained 0.8 percent and rival Redrow rallied 2.3 percent. The two companies announced in a joint statement that a merger deal between them will be completed later this week.

Stocktwits
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German Business Confidence Improves For First Time In 5 Months

German Business Confidence Improves For First Time In 5 Months

German business confidence improved for the first time in five months in October but remained at a low level suggesting weaker economic activity, survey results from the ifo Institute showed Friday. The business climate index climbed to 86.5 in October from 85.4 in the previous month. The score was forecast to rise to 85.6. This was the first rise in five months.
RTTNews | 4h 2min ago
Tokyo Inflation Falls Below 2%

Tokyo Inflation Falls Below 2%

Inflation in Japan's capital Tokyo fell below 2 percent for the first time since May, data from the Ministry of Internal Affairs and Communications showed Friday. Excluding fresh food, consumer price inflation weakened to 1.8 percent in October from 2.0 percent in September. Inflation was seen at 1.7 percent. The rate fell below 2.0 percent for the first time in five months.
RTTNews | 6h 13min ago
China Keeps Medium-Term Lending Facility Rate Unchanged

China Keeps Medium-Term Lending Facility Rate Unchanged

China's central bank left the rate on medium-term lending facility unchanged on Friday after lowering the rate by 30 basis points last month. The People's Bank of China maintained the medium-term lending facility rate at 2.0 percent. The central bank today conducted a seven-day reverse repo operations of CNY 292.6 billion at an interest rate of 1.5 percent.
RTTNews | 7h 1min ago
Antipodean Currencies Fall Ahead Of U.S. Presidential Election

Antipodean Currencies Fall Ahead Of U.S. Presidential Election

The Antipodean currencies such as the Australia and the New Zealand dollars weakened against their major currencies in the Asian session on Friday, as investors are awaiting the outcome of the U.S. presidential election on Sunday.
RTTNews | 7h 20min ago
European Economic News Preview: German Ifo Business Confidence Data Due

European Economic News Preview: German Ifo Business Confidence Data Due

Business confidence from Germany and monetary aggregates from the euro area are the top economic news due on Friday. At 2.45 am ET, France's consumer confidence survey data is due. Economists expect the confidence index to fall slightly to 94 in October from 95 in the previous month.
RTTNews | 7h 31min ago
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