European Shares Mostly Higher As Focus Shifts To ECB, Powell

RTTNews | 857 dagar sedan

(RTTNews) - European stocks rose in cautious trade on Thursday, as investors await the ECB rate decision and an announcement on U.K. Prime Minister Liz Truss's energy bill support package later in the day.

The European Central Bank is widely expected to go for a large, 50-basis-point rate hike or a record 75-basis-point one, given the record high inflation and the tightening stance of its global peers.

The central bank is set to release the outcome of the governing council meeting in Frankfurt at 8.15 am ET.

ECB Chief Christine Lagarde is set to hold customary press conference at 8.45 am ET.

Investors also await comments from Federal Reserve Chair Jerome Powell later in the day for additional clues on inflation and growth outlook.

The pan European Stoxx 600 was marginally higher at 412.39 after declining 0.6 percent on Wednesday.

France's CAC 40 index rose 0.2 percent and the U.K.'s FTSE 100 added 0.3 percent while the German DAX was little changed with a negative bias.

Philips fell about 1 percent after reports that French prosecutors have opened a preliminary investigation into a respiratory device recall by the Dutch medical device maker.

Valneva SE shares were down 1.3 percent in Paris. The vaccine maker focused on infectious diseases, and VBI Vaccines Inc. said that they have joined hands for the marketing and distribution of PreHevbri in select European countries.

Automakers BMW and Volkswagen fell around 1 percent each after the Chinese megacity of Chengdu extended a lockdown for a majority of its more than 21 million residents.

Higher iron ore prices helped lift miners, with Antofagasta rising 1.4 percent and BHP adding 0.9 percent in London.

Restaurant Group surged 2.8 percent after narrowing its half-year net loss.

Melrose, the turnaround specialist that owns British engineer GKN, fell about 1 percent. The company announced plans to separate its GKN Automotive and GKN Powder Metallurgy divisions and list them as a separate independent business.

Associated British Foods plunged over 7 percent after a profit warning.

TSX Ends Notably Lower As Stocks Drop On Interest Rate Concerns

The Canadian market closed notably lower on Friday, hurt by rising bond yields, and fading optimism about interest rate cuts by the Federal Reserve after data showed stronger-than-expected growth in U.S. non-farm payroll employment. Canadian employment data too came in stronger than expected, reducing prospects of any significant monetary easing by the Bank of Canada.

RTTNews | 1 dag sedan

Dollar Climbs Higher After Buoyant Jobs Data

The U.S. dollar firmed against its major counterparts on Friday amid fading hopes of further reductions in interest rates after data from the Labor Department showed stronger-than-expected growth in non-farm payroll employment in the month of December.

RTTNews | 1 dag sedan

U.S. Stocks Close Sharply Lower As Strong Jobs Data Raises Interest Rate Concerns

U.S. stocks tumbled on Friday due to heavy selling across the board as buoyant non-farm payroll data raised concerns that the Federal Reserve will likely hold interest rates at current levels or slow down the pace of reductions. Rising bond yields hurt as well.

RTTNews | 1 dag sedan

Swiss Market Ends Notably Lower

The Switzerland market settled notably lower on Friday, in line with markets across Europe, as upbeat U.S. jobs data raised concerns that the Federal Reserve will likely hold interest rates unchanged from current levels, or go slow on interest rate cuts this year. Data showing an increase in Swiss unemployment weighed as well.

RTTNews | 2 dagar sedan

U.S. Dollar Firms As Strong Jobs Data Dampens Rate Cut Hopes

The U.S. dollar climbed against its most major counterparts in the New York session on Friday, as stronger-than-expected jobs data for December strengthened expectations that the Federal Reserve will hold rates steady for sometime.

RTTNews | 2 dagar sedan

European Stocks Close Lower As Strong U.S. Jobs Data Fuels Interest Rate Concerns

European stocks closed lower on Friday after stronger-than-expected U.S. jobs data raised concerns that the Federal Reserve will hold interest rates at current levels for longer. Higher Euro zone bond yields, and potential tariff hikes by the U.S. weighed as well on investor sentiment.

RTTNews | 2 dagar sedan

Canadian Stocks Tumble As Upbeat Jobs Data Raises Interest Rate Concerns

Canadian stocks are down sharply on Friday with stronger-than-expected U.S. jobs data raising concerns that the Federal Reserve will likely hold interest rates unchanged from current levels for sometime. Also, a buoyant Canadian employment reports has dimmed the prospects for further easing by the Canadian central bank for now.

RTTNews | 2 dagar sedan

U.S. Consumer Sentiment Edges Lower In January As Inflation Expectations Surge

Consumer sentiment in the U.S. has unexpectedly seen a modest deterioration in the month of January, according to preliminary data released by the University of Michigan on Friday. The University of Michigan said its consumer sentiment index edged down to 73.2 in January from 74.0 in December. Economists had expected the index to inch up to 74.5.

RTTNews | 2 dagar sedan

EURUSD	1.02441	GBPUSD	1.22097	AUDUSD	0.61461
USDJPY	157.737	USDCAD	1.44282	USDCHF	0.91664