DAX Gains Despite Weak Manufacturing Data
(RTTNews) - German stocks edged higher on Monday as optimism about the health of the U.S. economy and Fed pause hopes offset domestic data showing that German manufacturing activity shrank at the fastest rate in more than three years in June.
The HCOB final Purchasing Managers' Index (PMI) for manufacturing, which accounts for about a fifth of Germany's economy, dropped to 40.6 from 43.2 in May, marking the fifth consecutive monthly decline.
Meanwhile, the final Eurozone PMI Manufacturing reading for June has been finalized at 43.4 versus 43.6 preliminary as demand for goods fell sharply at the end of the second quarter.
The benchmark DAX was up 50 points, or 0.3 percent, at 16,198 after climbing 1.3 percent on Friday.
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Malaysia Stock Market May Find Traction On Monday
The Malaysia stock market has finished lower in three straight sessions, slipping more than 35 points or 2.4 percent in that span. The Kuala Lumpur Composite Index now sits just above the 1,665-point plateau although it may stop the bleeding on Monday.
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South Kore Stock Market May Spin Its Wheels On Monday
The South Korea stock market has finished higher in two of three trading days since the end of the four-day losing streak in which it had plunged more than 420 points or 5.9 percent. The KOSPI now sits just beneath the 6,900-point plateau although it may be stuck in neutral on Monday.
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China Loan Prime Rate Due On Monday
The People's Bank of China will on Monday announce its decision on its loan prime rate for September, highlighting a light day for Asia-Pacific economic activity. The loan rate is expected to be unchanged at 3.50 percent.
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1h 39min ago
U.S. Dollar Slips As Focus Shifts To Upcoming Trump's Meet With GCC Leaders
The U.S. Dollar value ticked lower on Friday after U.S. President Donald Trump hinted at returning to a possible military confrontation with Iran. Trump is planning to take a call after his upcoming meeting with the leaders of the Gulf Cooperation Council on Tuesday in New York.
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2 days ago
Canadian Stocks Turning In Mixed Performance In Cautious Trade
Canadian stocks are turning in a mixed performance on Friday with investors largely making cautious moves, assessing geopolitical situation and weighing recent policy moves and inflation outlook from major central banks.
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2 days ago
Swiss Market Ends On Weak Note
The Switzerland stock market closed notably lower on Friday, in line with markets across Europe as worries about inflation and uncertainty about central banks' monetary policy moves rendered the mood cautious.
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2 days ago
European Stocks Fall As Central Bank Signals Weigh On Sentiment
European stocks declined Friday amid caution over monetary policy and inflation outlooks from major central banks. The ECB survey showed Euro Zone inflation expectations rose to 3% from 2.9%, while the Bank of Japan raised rates by 25 basis points.
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2 days ago
U.S. Leading Economic Index Unexpectedly Edges Lower In August
A report released the Conference Board on Friday unexpectedly showed a modest decrease by its reading on leading U.S. economic indicators in the month of August. The Conference Board said its leading economic index edged down by 0.1 percent in August after rising by 0.2 percent in July. Economists had expected the index to inch up by 0.1 percent.
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2 days ago
