European stocks were set to wrap up September with the best performance since 2019, as optimism around resilient US economic growth and lower interest rates lifted risk appetite. The Stoxx Europe 600 Index was little changed by 8:17 a.m. in London. The gauge has gained nearly 1% in September during a typically weak seasonal period. Financial services and media sectors outperformed, while energy and chemicals shares were the biggest laggards. In individual stocks, Asos Plc dropped 10% as it warned full-year earnings would be at the lower end of expectations as the online fast...
European markets closed higher Thursday, with luxury stocks soaring on strong results from Cartier owner Richemont The regional Stoxx 600 index provisionally ended the day 0.93% higher, with most sectors in positive territory. Retail stocks pared earlier gains to fall 0.2%. Luxury sector bellwether Richemont jumped 16% after reporting a better-than-expected 10% increase in fiscal third-quarter sales, while France's LVMH, Kering and Christian Dior all rising. Retailers Moncler, Burberry, Swatch and Hermes also crowded around the top of the Stoxx index. Technology stocks closed 1.9% higher,...
US stocks rose slightly on Thursday, with the three major indexes up about 0.1%, following strong gains the previous day. Traders digested the latest economic data while remaining optimistic that the Federal Reserve has room to implement further interest rate cuts this year. Retail sales rose less than anticipated last month and initial claims came in above estimates. Tech stocks such as Nvidia (1.5%) and Super Micro Computer (2.7%) rose, supported by a positive outlook from Taiwan Semiconductor Manufacturing. Meanwhile, earnings season continued with Bank of America shares rising 0.1%...
The STOXX 50 rose 0.9% and the STOXX 600 gained 0.6% on Thursday, in line with a rise in global equities. The rally was driven by optimism following the U.S. CPI report, which reinforced expectations that the Federal Reserve has room to continue cutting interest rates this year. Meanwhile, traders were also focused on corporate results, with Richemont shares jumping more than 15% after the luxury company reported a 10% jump in Q3 sales. The luxury sector received a boost from the news, with LVMH (8%), Kering (9%), Moncler (7.6%) and Hermes (5.1%) surging. ASML Holding (3.5%), L'Oreal (2.6%)...
The Hang Seng rose 237 points, or 1.2%, to close at 19,523 on Thursday (16/1), marking its third straight day of gains after a strong session on Wall Street on Wednesday, amid growing bets on a potential Fed rate cut this year following a slowdown in U.S. core inflation. The index was at its highest in a week after dropping to a nearly four-month low last week, boosted by reports from Chinese state media that the central bank may cut RRRs for commercial banks before the Spring Festival in late January, providing more liquidity for the economy. Traders shrugged off news that the U.S....
Japanese stocks rose after the close on Thursday, as gains in the Banking, Services and Electricity/Machinery sectors helped stocks advance. At the close in Tokyo, the Nikkei 225 gained 0.32%. The best performers on the Nikkei 225 were Hino Motors, Ltd. (TYO:7205), which rose 9.49%, or 48.40 points, to trade at 558.60 at the close. Meanwhile, Furukawa Electric Co., Ltd. (TYO:5801) gained 7.68%, or 507.00 points, to close at 7,110.00 and Dainippon Screen Mfg. Co., Ltd. (TYO:7735) rose 5.48% or 550.00 points to close at 10,585.00 in the last trade. The worst performers on the session were...