European Stocks Close Broadly Lower Ahead Of Key U.S. Economic Data

RTTNews | 127天前
European Stocks Close Broadly Lower Ahead Of Key U.S. Economic Data

(RTTNews) - European stocks closed broadly lower on Thursday amid concerns about inflation and lingering uncertainty about the outlook for Fed interest rates. Investors awaited the data on U.S. personal consumption expenditure for clues about Fed policy moves.

Investors also braced for the first round of French parliamentary elections due over the weekend. Higher bond yields weighed as well on markets.

The pan European Stoxx 600 ended down 0.43%. The U.K.'s FTSE 100 dropped 0.55%, and France's CAC 40 drifted down 1.03%, while Germany's DAX gained 0.3%. Switzerland's SMI edged down 0.09%.

Among other markets in Europe, Denmark, Greece, Portugal, Spain and Sweden ended weak.

Finland, Iceland, Netherlands, Norway, Poland and Turkiye closed higher. Austria and Belgium edged up

In the UK market, Burberry Group dropped about 6.5%. GSK ended down 4.6% after a U.S. public health agency narrowed its usage recommendation for all respiratory syncytial virus (RSV) vaccines.

Prudential, British American Tobacco and 3i Group lost 2.9 to 3.3%.

Hikma Pharmaceuticals, Associated British Foods, Diageo, AstraZeneca, Rio Tinto, B&M European Value Retail, Severn Trent, Rolls-Royce Holdings and Anglo American Plc ended down by 1.5 to 2.3%.

Smith (DS) Plc shares soared 15.7%. Mondi rallied 3.6%. Barclays Group, Admiral Group, Airtel Africa, Halma, Smiths Group, Relx, Diploma, Rentokil Initial, Intertek Group, Pearson, Auto Trader Group, Bunzl and Howden Joinery gained 1 to 2%.

In the German market, Rheinmetall, Sartorius, Beiersdorf and Zalando lost 2 to 3%. RWE, Mercedes-Benz, Porsche, Infineon and E.ON also ended notably lower.

MTU Aero Engines gained more than 5.5%. Siemens gained about 2.5%. HeidelbergCement and Vonovia also ended sharply higher.

In the French market, Stellantis, Edenred, L'Oreal, Vinci, Pernod Ricard and Bouygues ended lower by 2 to 4.3%. Veolia, Dassault Systemes, Engie, Essilor, LVMH, Publicis Groupe, STMicroElectronics, Danone and Carrefour also closed notably lower.

Kering gained 4.7%, and Unibail Rodamco climbed about 1.6%. Teleperformance and Safran posted modest gains.

Watches of Switzerland Group, a British retailer of Swiss watches and other luxury goods, soared 8.5%. The company said it is seeing signs of stability in the U.K. premium and luxury watch market following a post-COVID slump in sales.

Swedish clothing major Hennes & Mauritz AB tanked 13% after posting a smaller-than-expected increase in second quarter profits.

Eurozone economic confidence weakened unexpectedly in June, suggesting that the economy remains weak, survey data published by the European Commission showed.

The economic confidence index posted 95.9 in June, down from 96.1 in May. The reading was forecast to rise slightly to 96.2.

The score largely reflected broadly stable sentiment in industry, and among consumers and service providers, while confidence in construction and retail deteriorated from May.

UK car production declined for the third straight month in May, as factories continued to retool for an electric mobility future, the Society of Motor Manufacturers and Traders, or SMMT, said Thursday.

Car production declined 11.9 percent yearly to 69,652 units in May, data showed

read more
TSX Ends On Firm Note As Technology, Consumer Discretionary Stocks Rally

TSX Ends On Firm Note As Technology, Consumer Discretionary Stocks Rally

Canadian benchmark stock index ended with a modest gain on Friday, lifted by strong gains in technology and consumer discretionary sectors. Upbeat earnings updates from big name U.S. companies Intel and Amazon contributed significantly to the firm undertone on Bay Street.
RTTNews | 12小时48分钟前
Dollar Rises Against Major Counterparts Ahead Of Eventful Week

Dollar Rises Against Major Counterparts Ahead Of Eventful Week

The U.S. dollar suffered a mild setback in early New York session on Friday after data showing a much smaller than expected increase in non-farm payroll employment growth and an unexpected contraction in the nation's manufacturing activity last month.
RTTNews | 13小时18分钟前
Swiss Market Ends On Firm Note On Strong Economic Data

Swiss Market Ends On Firm Note On Strong Economic Data

The Switzerland market closed on a strong note on Friday, in line with markets across Europe, as upbeat results from top U.S. firms Intel and Amazon, and data showing an unexpected drop in Swiss consumer price inflation helped underpin sentiment.
RTTNews | 16小时2分钟前
Pound Firms Against Majors

Pound Firms Against Majors

The pound moved up against its major counterparts in the New York session on Friday.
RTTNews | 19小时3分钟前
U.S. Construction Spending Inches Slightly Higher In September

U.S. Construction Spending Inches Slightly Higher In September

Reflecting an increase in spending on public construction, the Commerce Department released a report on Friday showed an uptick by U.S. construction spending in the month of September. The report said construction spending crept up by 0.1 percent to an annual rate of $2.149 trillion in September after inching up by 0.1 percent to a revised rate of $2.146 trillion in August.
RTTNews | 19小时45分钟前
U.S. Manufacturing Index Unexpectedly Dips To Lowest Level In Over A Year

U.S. Manufacturing Index Unexpectedly Dips To Lowest Level In Over A Year

A report released by the Institute for Supply Management on Friday showed U.S. manufacturing activity unexpectedly contracted at a modestly faster rate in the month of October. The ISM said its manufacturing PMI fell to 46.5 in October from 47.2 in September, with a reading below 50 indicating contraction. Economists had expected the index to inch up to 47.6.
RTTNews | 20小时2分钟前