European stocks were broadly higher on Friday, rising for a fourth straight session as strong U.S. retail sales data and low weekly jobless claims figures soothed fears of an impending recession in the worlds largest economy. This weeks benign producer price and consumer price inflation reports also re-affirmed bets for a 25-bps rate cut by...
Supermarket chain Kroger Co., amid the ongoing regulatory hurdles in its proposed $25 billion merger with Albertsons Cos., now plans to cut grocery prices by $1 billion, upon the closure of the deal, Bloomberg reported. This is double the $500 million cut in prices the company announced, while the merger deal was revealed in 2022....
The euro area trade surplus surged in June driven by the increase in surplus for machineries and vehicles, chemicals and other manufactured goods. The trade surplus rose to EUR 22.3 billion in June from EUR 14.0 billion in May, data published by Eurostat showed on Friday. This was well above economists forecast of EUR 13.3...
Indian shares followed global peers higher on Friday as strong U.S. retail sales data and low weekly jobless claims figures soothed fears of an impending recession in the worlds largest economy. This weeks benign U.S. producer price and consumer price inflation reports also re-affirmed bets for a 25-bps rate cut by the Federal Reserve in...
Indian shares were flat to slightly higher on Monday, tracking mixed cues from global markets. The benchmark S&P/BSE Sensex was up 48 points at 80,485 in early trade while the broader NSE Nifty index was up 33 points at 24,574. Zomato rallied 3.4 percent after UBS raised its target price on the stock. BPCL added...
French stocks were seeing modest gains on Friday, after having rallied sharply the previous day on hopes of a soft landing for the worlds largest economy. The benchmark CAC 40 was up 15 points, or 0.2 percent, at 7,438 after climbing 1.2 percent on Thursday. Banks BNP Paribas, Credit Agricole and Societe Generale were up...
Drug giant Pfizer Inc. (PFE) and BioNTech SE (BNTX) announced Friday top-line results from their Phase 3 clinical trial to evaluate the companies combined mRNA vaccine candidate against influenza and COVID-19 in healthy individuals 18-64 years of age. The combination candidate consists of Pfizers mRNA-based influenza vaccine candidate with the companies licensed COVID-19 vaccine. The...
The Switzerland market ended modestly higher on Friday after a choppy session. The mood remained positive almost right through the days session thanks to data showing a sharp surge in the nations industrial output, and on hopes the Federal Reserve will start cutting interest rates in September. Lindt & Spruengli, Swiss Re, Julius Baer, Logitech...
The U.S. dollar weakened against its major counterparts in the New York session on Friday, as treasury yields fell amid expectations of rate cuts by the Federal Reserve. Recent economic data indicated a slowdown in inflation and re-affirmed bets for a 25-bps rate cut by the Fed in September. Market participants await Fed Chair Jerome...
The U.S. dollar turned in a weak performance against its major counterparts on Friday with traders betting on a few interest rate cuts by the Federal Reserve this year. Comments Atlanta Fed President Raphael Bostic and Chicago Fed President Goolsbee have bolstered market expectations that the central bank will begin cutting rates in September. In...