European Shares Decline Ahead Of Key GDP Data

RTTNews | 9h 41minuter sedan

(RTTNews) - European stocks traded lower on Wednesday as investors assessed a batch of mixed earnings and awaited regional growth data as well as the U.K. government's budget for direction.

U.K. Chancellor of the Exchequer will present her Autumn Budget 2024 to Parliament at 8.30 am ET.

The pan European STOXX 600 dropped 0.7 percent to 514.17 after falling 0.6 percent on Tuesday.

The German DAX dipped half a percent, France's CAC 40 lost 1.1 percent and the U.K.'s FTSE 100 was down 0.4 percent.

UBS gained 1.3 percent. The Swiss banking giant reported a significant uptick in its third-quarter performance, driven by cost-cutting and robust loan income.

Bearings maker SKF surged 5.2 percent after selling its Hanover, Pennsylvania ring and seal operation, via subsidiary PCTI, to Carco PRP for 2.3 billion Swedish crowns ($215.98 million).

GSK shares tumbled 3.4 percent in London. The pharmaceutical company swung into a loss in the third quarter and lowered its 2024 vaccine sales forecast.

Standard Chartered rallied 3 percent. The lender upgraded its 2024 income guidance after profits in the third quarter beat market estimates.

Miner Glencore added 1.7 percent as it maintained production forecast for the current year.

Retail bellwether Next gained 1.6 percent after raising outlook for third time in three months.

Luxury stocks fell, with LVMH, Kering and Hermes falling 1-3 percent in Paris on concerns about demand growth in China.

Energy-management and automation group Schneider Electric rose about 1 percent after third-quarter revenue rose to record levels.

Capgemini plunged 7.6 percent as the IT consulting group cut its 2024 revenue target for the second time this year.

German automaker Volkswagen rallied 2 percent after backing its annual sales guidance.

Daimler Truck Holding fell 1.3 percent after an announcement that it is writing off some of its receivables in China.

U.S. Pending Home Sales Spike Much More Than Expected In September

Pending home sales in the U.S. spiked by much more than expected in the month of September, according to a report released by the National Association of Realtors on Wednesday. NAR said its pending home sales index soared by 7.4 percent to 75.8 in September after climbing by 0.6 percent to 70.6 in August. Economists had expected pending home sales to jump by 1.1 percent.

RTTNews | 4h 46minuter sedan

GSK Q3 Results Down, Sees FY24 Outlook At Mid Range; Stock Drops

Shares of GSK plc were losing more than 4 percent on the London Stock Exchange as well as in the early morning trading on the NYSE after the British drug maker reported Wednesday sharply lower profit in its third quarter on $2.3 billion charge on Zantac settlement, as well as weak revenues. Further, GSK confirmed its fiscal 2024 outlook for earnings, core profit and sales.

RTTNews | 5h 18minuter sedan

U.S. Economic Growth Unexpectedly Slows Modestly In Q3

A report released by the Commerce Department on Wednesday showed U.S. economic growth unexpectedly slowed in the third quarter. The Commerce Department said gross domestic product shot up by 2.8 percent in the third quarter after surging by 3.0 percent in the second quarter. Economists had expected another 3.0 percent jump.

RTTNews | 5h 46minuter sedan

Euroarea Logs Faster GDP Growth In Q3 Despite Recession Worries

The Eurozone economic growth improved unexpectedly in the third quarter, easing fears of an imminent recession as Germany, France and Spain registered better-than-expected growth. Gross domestic product increased 0.4 percent on a quarterly basis, the preliminary flash estimate from Eurostat showed Wednesday. GDP was expected to log 0.2 percent growth, the same rate as seen in the second quarter.

RTTNews | 5h 48minuter sedan

U.S. Private Sector Employment Surges By 233,000 Jobs In October, Much More Than Expected

Payroll processor ADP released a report on Wednesday showing private sector employment in the U.S. shot up by much more than anticipated in the month of October. ADP said private sector employment surged by 233,000 jobs in October after jumping by an upwardly revised 159,000 jobs in September. Economists had expected private sector employment to climb by 115,000 jobs.

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U.S. Gross Domestic Product Jumps Less Than Expected In Q3

A report released by the Commerce Department on Wednesday showed U.S. economic growth unexpectedly slowed in the third quarter.

RTTNews | 6h 41minuter sedan

Bay Street Likely To Open On Mixed Note

Canadian shares are likely to open on a mixed note Wednesday morning, reacting to corporate earnings updates and key economic data from the U.S. Energy stocks may move up on firm crude oil prices.

RTTNews | 6h 41minuter sedan

German Economy Avoids Recession In Q3

The German economy avoided a technical recession in the third quarter, thanks to household and government consumption, preliminary estimate from Destatis showed Wednesday. Gross domestic product grew 0.2 percent from a quarter ago, confounding expectations for a contraction of 0.1 percent. However, the statistical office downwardly revised the fall for the second quarter to 0.3 percent from 0.1 p

RTTNews | 6h 58minuter sedan

EURUSD	1.08576	GBPUSD	1.30055	AUDUSD	0.6578
USDJPY	153.346	USDCAD	1.392	USDCHF	0.86667