European Shares Seen Opening Up On China Optimism

RTTNews | 1360 days ago
European Shares Seen Opening Up On China Optimism

(RTTNews) - European stocks may open a tad higher on Thursday after Beijing used a series of meetings to underline the country's pivot towards a focus on growth.

China will speed up construction of major investment projects and equipment upgrading, state media quoted the cabinet as saying after a regular meeting.

Asian markets traded broadly higher, and the yen firmed towards its recent four-month peak against the dollar, while oil extended gains for a fourth day after data showed a larger-than-expected draw in U.S. crude stockpiles.

Traders also tracked the fallout from Group of Seven sanctions targeting Russia's crude exports and revenues.

Gold edged higher ahead of the latest weekly U.S. jobless claim numbers and the U.S. GDP data for the third quarter due out later in the day.

Closer home, the Office for National Statistics releases U.K. final GDP data for the third quarter.

The preliminary estimates showed that the economy contracted 0.2 percent sequentially, offsetting the 0.2 percent increase a quarter ago. The statistical office is set to confirm the preliminary estimate.

U.S. stocks rose for a second straight session overnight on the back of upbeat consumer confidence data and solid earnings from corporate giants Nike and FedEx.

The Dow surged 1.6 percent, while the S&P 500 and the Nasdaq Composite climbed around 1.5 percent each.

European stocks ended Wednesday's session on a buoyant note after a report showed improvement in German consumer sentiment.

The pan European STOXX 600 advanced 1.7 percent. The German DAX rallied 1.5 percent, France's CAC 40 index surged 2 percent and the U.K.'s FTSE 100 added 1.7 percent.

read more
TSX Climbs On Tech Rally, Looks Set To End 6-day Losing Streak

TSX Climbs On Tech Rally, Looks Set To End 6-day Losing Streak

The S&P/TSX Composite Index rose 0.36% Friday to 35,634.50 as technology stocks surged 3.5%, contributing significantly to gains. Oil prices fell following International Energy Agency's downward global oil demand forecast revision.
RTTNews | 18h 9min ago
Swiss Market Ends Modestly Higher

Swiss Market Ends Modestly Higher

The Switzerland stock market closed modestly higher on Friday, in line with markets across Europe, as a sharp drop in oil prices helped lift sentiment.
RTTNews | 18h 43min ago
European Markets Rise As Oil Prices Fall On IEA Demand Cut

European Markets Rise As Oil Prices Fall On IEA Demand Cut

European markets gained ground Friday after the International Energy Agency cut its global oil demand forecast, sending Brent crude futures down 3.5% to $103.50. The IEA now projects world oil demand will drop 2.5 million barrels per day this year versus its prior estimate of 1.6 million bpd.
RTTNews | 19h 6min ago
U.S. Consumer Sentiment Deteriorates Much More Than Expected In September

U.S. Consumer Sentiment Deteriorates Much More Than Expected In September

A report released by the University of Michigan on Friday showed consumer sentiment in the U.S. has deteriorated by much more than anticipated in the month of September. The University of Michigan said its consumer sentiment index slumped to 47.8 in September after tumbling to 51.7 in August. Economists had expected the index to edge down to 51.0.
RTTNews | 22h 27min ago
CPSC Recalls: 2.3 Mln Candy Bottles, Motorcycles, Dressers, Dual Fuel Ranges, Fire Spray Canisters

CPSC Recalls: 2.3 Mln Candy Bottles, Motorcycles, Dressers, Dual Fuel Ranges, Fire Spray Canisters

The U.S. Consumer Product safety Commission or CPSC has announced various recalls including more than 2.3 million sour crush candy bottles, motorcycles, six-drawer dressers, dual fuel ranges, hair dryer brushes, and fire spray canisters, among others. In most of the recalls, consumers are urged to immediately stop using the recalled product, and contact the respective firm for either a free repair
RTTNews | 22h 36min ago
U.S. Consumer Price Growth Matches Estimates, Core Prices Rise Slightly More Than Expected

U.S. Consumer Price Growth Matches Estimates, Core Prices Rise Slightly More Than Expected

A closely watched report released by the Labor Department on Friday showed consumer prices in the U.S. increased in line with economist estimates in the month of August, although core prices rose by slightly more than expected. The Labor Department said its consumer price index climbed by 0.4 percent in August after inching up by 0.1 percent in July.
RTTNews | 23h 16min ago