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DAX Plunges On Inflation Fears

RTTNews | 1533 days ago

DAX Plunges On Inflation Fears

(RTTNews) - German stocks plummeted on Thursday after global central bank chiefs said bringing down high inflation around the world will be painful and even dent economic growth.

The data's economic reports proved to be a mixed bag, with Germany's retail turnover recovering in May driven by non-food sales, while unemployment unexpectedly rose - snapping 15 straight months of decline.

Retail sales grew by real 0.6 percent in May, in contrast to a 5.4 percent fall in April. Economists had forecast a monthly growth of 0.5 percent.

Joblessness jumped by 133,000 in June, lifting the jobless rate to 5.3 percent -- the highest since November.

The benchmark DAX slumped 297 points, or 2.3 percent, to 12,706 after plunging 1.7 percent the previous day.

Uniper SE shares plunged 19 percent. The utility withdrew its outlook for the financial year 2022, due to gas supply restrictions by Russia's Gazprom.

BioNTech SE shares rose about 2 percent. The German drug maker along with Pfizer Inc. announced a new $3.2 billion vaccine supply deal with the U.S. government.

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No Help Yet For Hong Kong Stock Market

No Help Yet For Hong Kong Stock Market

The Hong Kong stock market has moved lower in three straight sessions, sliding more than 650 points or 2.6 percent along the way. The Hang Seg Index now sits just above the 24,950-point plateau and it's likely to extend its losses on Friday.

RTTNews | 20 minutes ago

Australian Market Sharply Lower

Australian Market Sharply Lower

The Australian stock market is trading sharply lower on Friday, extending the losses in the previous three sessions, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling well below the 8,750 level, with weakness in mining and technology stocks partially offset by gains in financial and energy stocks.

RTTNews | 27 minutes ago

Soft Start Anticipated For China Stock Market

Soft Start Anticipated For China Stock Market

The China stock market on Thursday ended the three-day winning streak in which it had risen more than 20 points or 0.5 percent. The Shanghai Composite Index now sits just above the 3,930-point plateau and it's expected to see continued consolidation on Friday.

RTTNews | 35 minutes ago

Lower Open Called For Taiwan Stock Market

Lower Open Called For Taiwan Stock Market

The Taiwan stock market has finished lower in two of three trading days since the end of the two-day winning streak in which it had advanced almost 1,475 points or 3.5 percent. The Taiwan Stock Exchange now sits just above the 46,940-point plateau and it's looking at another soft start again on Friday.

RTTNews | 1h 5min ago

Singapore Stock Market May Open In The Red

Singapore Stock Market May Open In The Red

The Singapore stock market has finished lower in four straight sessions, slumping almost 110 points or 3.4 percent in that span. The Straits Times Index now sits just beneath the 5,690-point plateau and it figures to open in the red again on Friday.

RTTNews | 1h 35min ago

Japan Producer Prices Sink 0.2% In August

Japan Producer Prices Sink 0.2% In August

Producer prices in Japan were down 0.2 percent on month in August, the Bank of Japan said on Friday.

RTTNews | 1h 38min ago

Malaysia Stock Market May Give Up Support At 1,700 Points

Malaysia Stock Market May Give Up Support At 1,700 Points

The Malaysia stock market has finished lower in three sessions, slipping almost 10 points in that span. The Kuala Lumpur Composite Index now sits just above the 1,700-point plateau and it may take further damage again on Friday.

RTTNews | 2h 5min ago

New Zealand Manufacturing Index Eases To 5.1 - BusinessNZ

New Zealand Manufacturing Index Eases To 5.1 - BusinessNZ

The manufacturing sector in New Zealand continued to expand, albeit at a slower rate, the latest survey from BusinessNZ revealed on Friday with a Performance of Manufacturing Index score of 53.1.

RTTNews | 2h 12min ago

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