The European stock markets closed sharply lower in Friday trading as The Stoxx Europe 600 fell 1.8%, Germany's DAX dropped 2.5%, the FTSE 100 was down 0.7%, France's CAC decreased 2.9%, and the Swiss Market Index declined 0.8%. The annual inflation rate in the euro area was an estimated 2.0% in July, which is unchanged from June, according to a flash estimate from Eurostat, the EU's statistical office. Analysts had been expecting 1.9%, according to Bloomberg. Eurostat said food, alcohol, and tobacco are expected to have the highest annual rate in July at 3.3%, compared with 3.1% in...
European markets are heading for a positive open Wednesday as traders await the latest U.S. inflation data that will inform the Federal Reserve's decision-making on interest rate cuts. The U.K.'s FTSE 100 index is expected to open 25 points higher at 8,221, Germany's DAX up 20 points at 20,279, France's CAC up 15 points at 7,439 and Italy's FTSE MIB up 51 points at 35,218, according to data from IG. Trading updates are set to come from Experian and Hays on Wednesday, while data releases in focus are the latest U.K. inflation figures and German full-year gross domestic product. Global...
The Nikkei 225 Index rose 0.1% to around 38,510, while the broader Topix Index climbed 0.5% to 2,695 on Wednesday, snapping a four-day losing streak. The gains came after softer-than-expected US producer inflation data provided some relief for equities. However, investors remained cautious ahead of the US consumer inflation data, which could influence the Federal Reserve's monetary policy outlook. In Japan, a private survey revealed a rebound in manufacturer sentiment for January, driven mainly by improved conditions in materials industries. At the same time, speculation is growing that the...
The S&P 500 closed nearly unchanged while the Nasdaq dipped after a volatile session on Tuesday as investors gauged inflation data and braced for quarterly earnings reports to justify stock valuations and the strength of the U.S. economy. Stocks oscillated between gains and losses throughout the day. Equities received an initial lift from a Labor Department report that showed the producer price index rose less than expected in December, although the report failed to materially affect expectations about the Federal Reserve's likely path of monetary policy this year. But early gains...
European markets gave up earlier gains to close lower Tuesday, as global investors assessed a cooler-than-expected U.S. producer price index. The pan-European Stoxx 600 index provisionally closed 0.07% lower as sectors turned mixed. Oil and gas stocks were among the worst performers, down 0.76%, after oil giant BP said its fourth-quarter profit would be dented by up to $300 million in light of weakening refinery margins. Retail stocks were also pulled into negative territory, as British sportswear retailer JD Sports tumbled near the bottom of the Stoxx 600 after lowering its profit...
Wall Street's main indexes opened higher on Tuesday, as investors assessed softer-than-expected producer inflation to gauge the Federal Reserve's monetary policy trajectory this year. The Dow Jones Industrial Average rose 69.3 points, or 0.16%, at the open to 42,366.42. The S&P 500 rose 23.1 points, or 0.39%, at the open to 5,859.27, while the Nasdaq Composite rose 119.6 points, or 0.63%, to 19,207.748 at the opening bell. Source: Reuters